Financials WELL Health Technologies Corp.

Equities

WELL

CA94947L1022

Healthcare Facilities & Services

Market Closed - Toronto S.E. Other stock markets 04:00:00 2025-12-05 pm EST			5-day change	1st Jan Change
3.960 ^CAD	-0.75%		+2.86%	-42.27%

Nov. 26	Stifel Keeps Buy Rating, $9 Target on Well Health Amid Competition Bureau Investigation	MT
Nov. 21	Stifel Canada on WELL Health Q3 Organic Growth Figures	MT

Projected Income Statement: WELL Health Technologies Corp.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	50.24	302.3	569.1	776.1	919.7	1,401	1,559	1,670
Change	-	501.76%	88.25%	36.36%	18.51%	52.38%	11.22%	7.16%
EBITDA ¹	-0.092	60.36	104.6	113.4	46.66	199.9	208	231.3
Change	-	65,704.83%	73.22%	8.45%	-58.85%	328.38%	4.06%	11.18%
EBIT ¹	-10.41	-12.79	23.31	35.16	-30.2	86.37	97.76	131
Change	-	-22.92%	282.23%	50.82%	-185.89%	386.04%	13.19%	34%
Interest Paid ¹	-1.935	-8.992	-25.29	-33.6	-37.62	-53	-48.97	-40
Earnings before Tax (EBT) ¹	-6.986	-24.97	17.92	19.5	8.992	7.08	40.89	36
Change	-	-257.47%	171.76%	8.79%	-53.88%	-21.26%	477.48%	-11.95%
Net income ¹	-3.686	-43.79	1.369	0.082	32.61	-16.27	22.25	52.17
Change	-	-1,087.78%	103.13%	-94.01%	39,667.07%	-149.89%	236.79%	134.43%
Announcement Date	3/18/21	3/31/22	3/21/23	3/21/24	4/15/25	-	-	-

¹CAD in Million

Estimates

Fiscal Period: December	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3
Net sales ¹	17.19	25.56	61.79	99.29	115.7	126.5	140.3	145.8	156.5	169.4	170.9	204.5	231.2	231.6	243.1	251.7	234.8	294.1	356.7	364.6	385.2	373	388.7	392.3	404.2	389.3	411.9	402.2
Change	-	48.7%	141.76%	60.68%	16.51%	9.36%	10.92%	3.89%	7.36%	8.25%	0.88%	19.62%	13.1%	0.14%	5%	3.53%	-6.75%	25.29%	21.26%	2.22%	5.66%	-3.16%	4.19%	0.92%	3.04%	-3.68%	5.81%	-2.35%
EBITDA ¹	0.7652	0.527	11.88	22.28	25.68	23.49	26.43	27.46	27.17	26.68	27.79	28.17	30.75	28.31	30.88	32.74	-3.749	27.58	49.74	59.92	62.37	52.26	51.94	51.53	52.58	42.6	52.4	49.3
Change	-	-31.13%	2,154.65%	87.47%	15.28%	-8.51%	12.51%	3.88%	-1.03%	-1.81%	4.14%	1.38%	9.15%	-7.92%	9.06%	6.02%	-111.45%	835.58%	80.35%	20.47%	4.1%	-16.21%	-0.62%	-0.79%	2.03%	-18.98%	23%	-5.92%
EBIT ¹	-4.35	-5.639	-11.14	-2.856	6.848	7.374	6.324	8.578	2.288	8.759	10.11	7.079	9.209	8.853	9.884	14.97	-63.9	7.643	27.14	17.1	31.83	27.76	23	15.98	17.39	-	-	-
Change	-	-29.64%	-97.64%	74.37%	339.78%	7.68%	-14.24%	35.64%	-73.33%	282.82%	15.42%	-29.98%	30.09%	-3.87%	11.65%	51.45%	-526.89%	111.96%	255.07%	-36.99%	86.15%	-12.8%	-17.12%	-30.52%	8.81%	-	-	-
Charge d'intérêts ¹	-0.335	-0.458	-1.351	-3.124	-4.059	-5.154	-5.254	-7.122	-7.761	-7.774	-7.828	-8.966	-9.035	-9.541	-9.689	-9.103	-9.283	-11.41	-12.91	-	-12.8	-11	-11	-11	-11	-	-	-
Earnings before Tax (EBT) ¹	1.606	-6.654	-13	-9.486	2.287	-0.039	-3.025	3.785	18.36	-10.44	-0.127	-4.507	34.57	19.42	115	-74.66	-50.78	-43.12	22.92	6.909	17.55	11.5	5.4	1.6	4.1	-	-	-
Change	-	-514.32%	-95.33%	27.01%	124.11%	-101.71%	-7,656.41%	225.12%	385.15%	-156.83%	98.78%	-3,448.82%	866.94%	-43.81%	492.2%	-164.92%	31.99%	15.1%	153.16%	-69.86%	153.99%	-34.47%	-53.04%	-70.37%	156.25%	-	-	-
Net income ¹	5.451	-7.071	-15.6	-12.34	-8.803	-8.019	-5.903	-4.419	20.63	-14.36	-5.767	-7.606	27.81	15.09	111.7	-81.19	-13	-46.57	12.15	4.172	11.79	7.966	4.303	3.684	-2.007	-	-	-
Change	-	-229.73%	-120.69%	20.92%	28.66%	8.91%	26.39%	25.14%	566.8%	-169.6%	59.83%	-31.89%	465.67%	-45.76%	640.49%	-172.68%	83.98%	-258.18%	126.09%	-65.67%	182.62%	-32.44%	-45.98%	-14.38%	-154.47%	-	-	-
Announcement Date	3/18/21	5/11/21	8/12/21	11/10/21	3/31/22	5/11/22	8/11/22	11/10/22	3/21/23	5/12/23	8/10/23	11/14/23	3/21/24	5/8/24	8/14/24	11/7/24	4/15/25	5/14/25	8/14/25	11/6/25	-	-	-	-	-	-	-	-

¹CAD in Million

Estimates

Forecast Balance Sheet: WELL Health Technologies Corp.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-	275	244	302	341	521	446	346
Change	-	-	-11.27%	23.77%	12.91%	52.57%	-14.4%	-22.42%
Announcement Date	3/18/21	3/31/22	3/21/23	3/21/24	4/15/25	-	-	-

¹CAD in Million

Estimates

Cash Flow Forecast: WELL Health Technologies Corp.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	1.135	2.682	6.404	8.107	16.23	25.03	25.63	25.1
Change	-	136.37%	138.78%	26.59%	100.15%	54.28%	2.4%	-2.08%
Free Cash Flow (FCF) ¹	-6.517	19.59	70.14	58.33	-6.704	84.16	96.98	123.6
Change	-	400.55%	258.12%	-16.84%	-111.49%	1,355.37%	15.23%	27.5%
Announcement Date	3/18/21	3/31/22	3/21/23	3/21/24	4/15/25	-	-	-

¹CAD in Million

Estimates

Forecast Financial Ratios: WELL Health Technologies Corp.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	-	-0.18%	19.97%	18.37%	14.61%	5.07%	14.26%	13.35%	13.85%
EBIT Margin (%)	-	-20.71%	-4.23%	4.1%	4.53%	-3.28%	6.16%	6.27%	7.84%
EBT Margin (%)	-	-13.91%	-8.26%	3.15%	2.51%	0.98%	0.51%	2.62%	2.16%
Net margin (%)	-	-7.34%	-14.48%	0.24%	0.01%	3.55%	-1.16%	1.43%	3.12%
FCF margin (%)	-	-12.97%	6.48%	12.32%	7.52%	-0.73%	6.01%	6.22%	7.4%
FCF / Net Income (%)	-	176.78%	-44.73%	5,123.59%	71,134.15%	-20.56%	-517.35%	435.82%	237.03%
Profitability
ROA	-9.47%	-2.8%	0.16%	1.59%	1.88%	-0.4%	-	-	-
ROE	-36.98%	-2.56%	-6.67%	2.45%	2%	3.28%	-	-	-
Financial Health
Leverage (Debt/EBITDA)	-	-	4.55x	2.34x	2.66x	7.32x	2.61x	2.14x	1.5x
Debt / Free cash flow	-	-	14.02x	3.48x	5.17x	-50.94x	6.19x	4.6x	2.8x
Capital Intensity
CAPEX / Current Assets (%)	-	2.26%	0.89%	1.13%	1.04%	1.76%	1.79%	1.64%	1.5%
CAPEX / EBITDA (%)	-	-1,233.17%	4.44%	6.12%	7.15%	34.77%	12.52%	12.32%	10.85%
CAPEX / FCF (%)	-	-17.41%	13.69%	9.13%	13.9%	-242.03%	29.74%	26.43%	20.3%
Items per share
Cash flow per share ¹	-	-0.0402	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-
Dividend per Share ¹	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-
Book Value Per Share ¹	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-
EPS ¹	-	-0.03	-0.23	-	-	0.13	-0.0967	0.05	0.1767
Change	-	-	-666.67%	-	-	-	-174.36%	151.72%	253.34%
Nbr of stocks (in thousands)	-	162,404	208,166	230,153	241,428	249,092	253,882	253,882	253,882
Announcement Date	-	3/18/21	3/31/22	3/21/23	3/21/24	4/15/25	-	-	-