TSX · Metal Fabrication · CAD

ADF Group Inc. (DRX.TO) Stock Analysis

ADF Group Inc. (DRX.TO) is a Metal Fabrication stock listed on TSX and quoted in Canadian Dollar.

Last Updated: October 21, 2026

DRX.TO

CA$16.00

+CA$0.05 (+0.31%)

Oct 21, 2026 · Market close

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Price History

Hover for the daily close. The dotted line marks the period open.

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DRX.TO Key Statistics

As of Oct 21, 2026

Trading

Open: CA$15.90
Previous Close: CA$15.95
Day's Range: 15.80–15.98
52-Week Range: 6.90–18.44
Volume: 10.38K
Beta: −0.55

Valuation

P/E Ratio: 14.41
PEG Ratio: 6.02
EPS (ttm): 1.11

Financials (FY)

Revenue (FY): CA$258.74M−23.82%
Net Income (FY): CA$26.31M−53.67%
Profit margin: 9.19%
1-Year Return: +114.06%

Dividend and dates

Dividend: CA$0.04+0.25%
Ex-Dividend Date: September 25, 2026
Earnings Date: December 10, 2026estimated
Avg Volume: 43.29K

Only metrics the company reports are shown. Data provided by Yahoo Finance via yfinance. Updated daily.

Key facts

As of October 21, 2026, DRX.TO closed at CA$16.00, +114.06% over 1 year.

In fiscal 2025, DRX.TO reported revenue of CA$258.74M.

DRX.TO Stock Return by Calendar Year

ADF Group Inc. (DRX.TO) 10-year return: what CA$10,000 became

1 year: CA$10,000 CA$21,406; +114.06%
5 years: CA$10,000 CA$101,029; +910.29%
10 years: CA$10,000 CA$58,800; +488.00%

If you had invested CA$10,000 in ADF Group Inc. (DRX.TO) 10 years ago, at the close on October 21, 2016, it would have been worth CA$58,800 at the close on October 21, 2026: +488.00% in total, +19.38% a year, with dividends reinvested. A historical calculation from closing prices adjusted for splits and dividends, before fees and taxes.

Calendar-year returns computed from daily closing prices. Partial years are shown muted and marked with an asterisk.

−51.53%+231.77%+74.09%

2016*2017201820192020202120222023202420252026*

Year	Return
2026 (partial year)	+74.09%
2025	−4.88%
2024	+41.10%
2023	+231.77%
2022	+31.95%
2021	+9.42%
2020	+16.92%
2019	+28.41%
2018	−51.53%
2017	−25.32%
2016 (partial year)	+14.13%

As of October 21, 2026.

DRX.TO Revenue and Earnings by Fiscal Year

FY ends January

RevenueNet income

2022202320242025

Fiscal year	Revenue	Net income	Net margin
2025	CA$258.74M	CA$26.31M	10.2%
2024	CA$339.63M	CA$56.79M	16.7%
2023	CA$331.02M	CA$37.62M	11.4%
2022	CA$250.89M	CA$14.94M	6.0%

Fiscal year	Revenue	Gross profit	Operating income	Net income	Net margin
2025	CA$258.74M	CA$59.77M	CA$36.58M	CA$26.31M	10.2%
2024	CA$339.63M	CA$107.24M	CA$85.13M	CA$56.79M	16.7%
2023	CA$331.02M	CA$72.92M	CA$50.14M	CA$37.62M	11.4%
2022	CA$250.89M	CA$35.57M	CA$20.80M	CA$14.94M	6.0%

Annual figures as reported, in the company's reporting currency. As of January 31, 2026.

DRX.TO Dividend History

’17’18’19’20’21’22’23’24’25’26*

CA$0.04+33.3% vs 2024

Dividends per share, 2025 · 2 payments

Year	Dividends per share	Payments	Change
2026*	CA$0.02	1	—
2025	CA$0.04	2	+33.3%
2024	CA$0.03	2	+50.0%
2023	CA$0.02	2	+0.0%

Year	Dividends per share	Payments	Change
2026 (partial year)	CA$0.02	1	—
2025	CA$0.04	2	+33.3%
2024	CA$0.03	2	+50.0%
2023	CA$0.02	2	+0.0%
2022	CA$0.02	2	+0.0%
2021	CA$0.02	2	+0.0%
2020	CA$0.02	2	+0.0%
2019	CA$0.02	2	+0.0%
2018	CA$0.02	2	+0.0%
2017	CA$0.02	2	—

Most recent payment: CA$0.02 per share, ex-dividend April 27, 2026. Per-share amounts summed by calendar year from ex-dividend dates. Partial years are shown muted and marked with an asterisk.

DRX.TO Valuation vs Metal Fabrication Median

Median of 19 stocks

Metric	DRX.TO	Metal Fabrication median	vs median
P/E	14.41	17.96	20% below
Profit margin	9.19%	5.14%	4.0 pts above

Medians across 19 Metal Fabrication stocks that report the metric. Medians, not averages, so one outlier cannot move them. As of October 21, 2026.

Analysis

Data-derived

Company Overview

The record here covers ADF Group Inc., ticker DRX.TO. It is classified in the Metal Fabrication industry, within the Industrials sector. Headcount on file is 754.

The most recent close on file for DRX.TO is CA$16.00, dated October 21, 2026. That is +CA$0.05 (+0.31%) against the previous close. The 52-week range on file runs from CA$6.90 to CA$18.44. The latest close sits 131.88% above that 52-week low.

Financial Health

In fiscal 2025, ADF Group Inc. reported revenue of CA$258.74M. That is −23.82% against the prior fiscal year, when revenue was CA$339.63M. Net income for the same year was CA$26.31M. That is −53.67% against the prior fiscal year. Profit margin runs at 9.19%. That is 4 percentage points above the Metal Fabrication median of 5.14%. Trailing earnings per share are 1.11.

Across the 4 fiscal years on file, revenue moves from CA$250.89M in 2022 to CA$258.74M in 2025. Of those 4 years, 4 report positive net income.

Valuation Assessment

The trailing P/E ratio stands at 14.41. That is 19.77% below the Metal Fabrication median of 17.96. The PEG ratio, which sets the P/E against expected earnings growth, reads 6.02. The medians here are taken across 19 Metal Fabrication companies that report the metric.

The trailing one-year total return is +114.06%. Across 10 years the annualized return works out at +19.38%. The reported beta is −0.55. Daily returns over the trailing 10 years annualize to a volatility of 57.98%.

Growth & Income

Shareholders receive a dividend, yielding 0.25% on the latest price. That is 0.7 percentage points below the Metal Fabrication median yield of 0.99%. The indicated annual rate is CA$0.04 a share. The ex-dividend date on file is September 25, 2026. Dividends are recorded for 10 calendar years; 2026 shows 1 payments totalling CA$0.02 a share. The year before, 2025, totalled CA$0.04 a share.

The strongest complete calendar year on file is 2023 at +231.77%; the weakest is 2018 at −51.53%. Of the 9 complete calendar years on file, 6 finished higher. 2026 is still running; the total return is +74.09% year to date.

Peer Comparison

ADF Group Inc. (DRX.TO) operates in the Metal Fabrication industry. Here is how it compares to its closest peers by market capitalization:

Company	Ticker	Market Cap	P/E Ratio
ADF Group Inc.	DRX.TO	—	14.4
ATI Inc.	ATI	$24.60B	53.0
Carpenter Technology Corporation	CRS	$18.25B	35.0
Mueller Industries, Inc.	MLI	$12.73B	14.8

The Metal Fabrication industry average P/E ratio is 18.0x. ADF Group Inc. trades at a P/E of 14.4.

Every figure above is read from this page's own data on each daily rebuild. Informational only, not financial advice. As of October 21, 2026.

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About ADF Group Inc.

ADF Group Inc. engages in the design and engineering of connections including industrial coatings in Canada and the United States. It also fabricates and installs complex steel structures; heavy steel built up components; and miscellaneous and architectural metalwork services. In addition, the company offers products and services for various segments of the non-residential construction industry, such as office towers and high-rises, commercial and recreational buildings, airport facilities, industrial complexes, and transport infrastructures and energy. Further, it operates in the field of machining, welding and industrial mechanics and offers design, fabrication, and installation of welded steel structures; and customized overhead crane solutions for heavy industry. It serves general contractors, project owners, engineering firms and project architects, structural steel erectors, and other steel structure fabricators. The company was formerly known as Les Entreprises El Drago Ltée and changed its name to ADF Group Inc. in August 1998. ADF Group Inc. was founded in 1956 and is headquartered in Terrebonne, Canada.

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