TSX · Specialty Industrial Machinery · CAD

Velan Inc. (VLN.TO) Stock Analysis

Velan Inc. (VLN.TO) is a Specialty Industrial Machinery stock listed on TSX and quoted in Canadian Dollar.

Last Updated: October 21, 2026

VLN.TO

CA$17.10

−CA$0.20 (−1.16%)

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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VLN.TO Key Statistics

As of Oct 21, 2026

Trading

Open: CA$17.25
Previous Close: CA$17.30
Day's Range: 17.10–17.25
52-Week Range: 13.61–19.50
Volume: 1.21K
Beta: 0.15

Valuation

Market Cap: CA$369.11M
P/E Ratio: unprofitable
P/S ratio: 1.36
EPS (ttm): −1.64

Financials (FY)

Revenue (FY): CA$296.41M+0.41%
Net Income (FY): CA$73.91M
Profit margin: −9.32%
Shares Outstanding: 8.31M
1-Year Return: +8.49%

Dividend and dates

Dividend: CA$0.40+2.31%
Ex-Dividend Date: November 13, 2025
Avg Volume: 5.31K

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

Key facts

As of October 21, 2026, VLN.TO closed at CA$17.10, +8.49% over 1 year.

Velan Inc. (VLN.TO) has a market capitalization of CA$369.11M.

In fiscal 2025, VLN.TO reported revenue of CA$296.41M.

VLN.TO Stock Return by Calendar Year

Velan Inc. (VLN.TO) 10-year return: what CA$10,000 became

1 year: CA$10,000 CA$10,849; +8.49%
5 years: CA$10,000 CA$21,670; +116.70%
10 years: CA$10,000 CA$10,943; +9.43%

If you had invested CA$10,000 in Velan Inc. (VLN.TO) 10 years ago, at the close on October 21, 2016, it would have been worth CA$10,943 at the close on October 21, 2026: +9.43% in total, +0.90% 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.

−50.07%+101.49%−8.31%

2016*2017201820192020202120222023202420252026*

Year	Return
2026 (partial year)	−8.31%
2025	+79.46%
2024	+101.49%
2023	+0.61%
2022	−34.64%
2021	+17.14%
2020	−15.98%
2019	−4.10%
2018	−50.07%
2017	+6.66%
2016 (partial year)	+2.97%

As of October 21, 2026.

VLN.TO Revenue and Earnings by Fiscal Year

FY ends February

RevenueNet income

2022202320242025

Fiscal year	Revenue	Net income	Net margin
2025	CA$296.41M	CA$73.91M	24.9%
2024	CA$295.20M	−CA$75.50M	−25.6%
2023	CA$258.65M	−CA$19.74M	−7.6%
2022	CA$370.43M	−CA$55.45M	−15.0%

Fiscal year	Revenue	Gross profit	Operating income	Net income	Net margin
2025	CA$296.41M	CA$81.09M	CA$11.25M	CA$73.91M	24.9%
2024	CA$295.20M	CA$84.92M	CA$18.15M	−CA$75.50M	−25.6%
2023	CA$258.65M	CA$54.63M	−CA$8.42M	−CA$19.74M	−7.6%
2022	CA$370.43M	CA$112.47M	CA$23.81M	−CA$55.45M	−15.0%

Annual figures as reported, in the company's reporting currency. As of February 28, 2026.

VLN.TO Dividend History

’16’17’18’19’20’22’23’25

CA$0.56

Dividends per share, 2025 · 4 payments

Year	Dividends per share	Payments	Change
2025	CA$0.56	4	—
2023	CA$0.03	1	+0.0%
2022	CA$0.03	1	—
2020	CA$0.03	1	−75.0%

Year	Dividends per share	Payments	Change
2025	CA$0.56	4	—
2023	CA$0.03	1	+0.0%
2022	CA$0.03	1	—
2020	CA$0.03	1	−75.0%
2019	CA$0.12	4	−36.8%
2018	CA$0.19	4	−52.5%
2017	CA$0.40	4	+300.0%
2016	CA$0.10	1	—

Most recent payment: CA$0.14 per share, ex-dividend November 13, 2025. Per-share amounts summed by calendar year from ex-dividend dates. Partial years are shown muted and marked with an asterisk.

VLN.TO Valuation vs Specialty Industrial Machinery Median

Median of 84 stocks

Metric	VLN.TO	Specialty Industrial Machinery median	vs median
P/S ratio	1.36	2.75	51% below
Profit margin	−9.32%	8.01%	17.3 pts below

Medians across 84 Specialty Industrial Machinery 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 market values Velan Inc. (VLN.TO) at CA$369.11M. It is classified in the Specialty Industrial Machinery industry, within the Industrials sector. The company reports 1,300 employees.

VLN.TO last closed at CA$17.10 on October 21, 2026. That is −CA$0.20 (−1.16%) against the previous close. The 52-week range on file runs from CA$13.61 to CA$19.50. The latest close sits 25.64% above that 52-week low.

Financial Health

The most recent full year on file, fiscal 2025, shows revenue of CA$296.41M. That is +0.41% against the prior fiscal year, when revenue was CA$295.20M. Net income for the same year was CA$73.91M. The reported profit margin is −9.32%. That is 17.3 percentage points below the Specialty Industrial Machinery median of 8.01%. Earnings per share on a trailing basis come to −1.64.

Across the 4 fiscal years on file, revenue moves from CA$370.43M in 2022 to CA$296.41M in 2025. Of those 4 years, 1 report positive net income.

Valuation Assessment

No trailing P/E applies: the last reported earnings figure is negative. Measured against sales, the shares trade at 1.36 times revenue. On price-to-sales that is 50.65% below the Specialty Industrial Machinery median of 2.75. The medians here are taken across 84 Specialty Industrial Machinery companies that report the metric.

The reported beta is 0.15. Annualized volatility over the trailing 10 years is 51.57%. The trailing one-year total return is +8.49%. Across 10 years the annualized return works out at +0.90%.

Growth & Income

VLN.TO pays a dividend yielding 2.31%. That is 1.2 percentage points above the Specialty Industrial Machinery median yield of 1.15%. The indicated annual rate is CA$0.40 a share. The ex-dividend date on file is November 13, 2025. Dividends are recorded for 8 calendar years; 2025 shows 4 payments totalling CA$0.56 a share.

Across the complete calendar years on file, 2024 returned +101.49% and 2018 returned −50.07%. Of the 9 complete calendar years on file, 5 finished higher. 2026 is still running; the total return is −8.31% year to date.

Peer Comparison

Velan Inc. (VLN.TO) operates in the Specialty Industrial Machinery industry. Here is how it compares to its closest peers by market capitalization:

Company	Ticker	Market Cap	P/E Ratio
Velan Inc.	VLN.TO	CA$369.11M	—
GE Vernova Inc.	GEV	$246.60B	26.6
Eaton Corporation plc	ETN	$153.01B	40.1
Parker-Hannifin Corporation	PH	$120.84B	33.7

Market caps are shown in each company's own trading currency, without conversion, and the peers are listed in order of these unconverted figures.

The Specialty Industrial Machinery industry average P/E ratio is 30.3x. Velan Inc. has no P/E ratio because it is not currently profitable.

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 Velan Inc.

Velan Inc. designs, manufactures, and markets industrial valves worldwide. It provides quarter-turn valves; gate, globe, and check valves; API 600 cast steel gate, globe, and check valves; corrosion-resistant steel gate, globe, and check valves; API 602 small forged gate, globe, and check valves; API 6D/API 6A through conduit and double expanding gate valves; large forged pressure seal and bolted bonnet gate, globe, and check valves; y-pattern valves; proquip dual-plate check valves; API 6D/API 6A non slam and swing check valves; quarter-turn valves; resilient-seated ball valves; securaseal metal-seated ball valves; coker ball valves; API 6D/API 6A pipeline ball valves; modular double block and bleed ball valves; torqseal triple-offset butterfly valves; and other products. The company also offers bimetallic steam traps, trap stations, and manifolds; engineering solutions; and cable drive actuators. The company was formerly known as Velan Engineering Ltd. and changed its name to Velan Inc. in February 1981. Velan Inc. was founded in 1950 and is headquartered in Montreal, Canada.

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