Wajax (WJX) Investor presentation summary

Financial performance and growth

• Revenue reached $2,145.3M in FY 2025, a 2.3% increase from the previous year, with a 5.5% CAGR since 2019.

• Net earnings grew 81% over five years, from $31.7M in 2020 to $57.5M in 2025.

• Adjusted basic earnings per share rose 66% over five years, reaching $2.90 in 2025.

• Gross profit margin improved by 80bps to 19.2% since 2020.

• Total shareholder return from 2020 to 2025 was 103%.

Business segments and revenue mix

• Heavy equipment accounted for 59% of FY 2025 revenue, with industrial parts and ERS making up 41%.

• Product support and equipment sales were the largest revenue sources, with $684.7M and $527.1M respectively in 2025.

• Revenue by end market in 2025 was diversified: construction (14%), oil sands (14%), mining (13%), oil and gas (11%), forestry (9%), and others.

• Industrial parts and ERS revenue grew at a 9.4% CAGR from 2019 to 2025.

Strategic priorities and capital allocation

• 2026 priorities include building a people-first culture, focusing on parts, service, and margin improvement, and leveraging the direct Hitachi relationship.

• Capital priorities: organic growth, increasing shareholder returns, debt management (target leverage 1.5–2.0x), and strategic acquisitions in industrial parts and ERS.

• Over $200M deployed in acquisitions since 2018, focusing on market leaders with strong technical expertise.