One-glance verdict
Undervalued
$340.83 our estimate vs market $90.40
Wall Street consensus: $157.94 (-53.7% lower than our fair-value estimate)
73% below our estimate, below the bear case
Fundamentals snapshot
Boyd Group Services Inc.
BGSI · NYQ · Consumer Cyclical · Auto & Truck Dealerships
Current price
$90.40
52-week range
$81.39 - $183.10
Market cap
$2.52B
Balance sheet
Stretched
1.90x Concerning
Net debt $2.00B. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
1 Risk
3 rewards · 1 risks
- Reward Revenue grew 2.4% last year.
- Reward Free cash flow was positive in 4/10 years.
- Reward Dividend yield is 0.5% with 1-year payout history.
- Risk Insider ownership is only 0.1% (peer median: 2.3%).
What this company does
Boyd Group Services Inc.
Boyd Group Services runs car collision repair shops across North America, such as Gerber Collision & Glass, that fix vehicles after an accident. The company's money comes mostly from insurance companies and individual car owners paying for these repairs. This is important because the need for car repairs tends to stay steady whether the economy is doing well or not, creating consistent business.
How the company got here
Boyd Group Services started with a single collision repair shop in Winnipeg, Canada, in 1990. Its founder focused on clean, professional shops and great customer service, which helped the company grow across Canada. A key turning point was entering the U.S. market in 2004 by buying a company called Gerber Collision & Glass. Since then, Boyd has grown by acquiring (buying) other repair shops, including a major expansion in 2026 with the purchase of Joe Hudson's Collision Centers. This strategy of buying smaller shops has made it one of the largest non-franchised collision repair operators in North America.
What it actually does
Boyd Group Services operates auto body and glass repair shops that you would take your car to after an accident or for a cracked windshield. They don't sell cars, but instead provide the services needed to fix them, working with both individual car owners and insurance companies. The company operates under different names you might recognize, such as Boyd Autobody & Glass and Assured Automotive in Canada, and Gerber Collision & Glass in the United States. They also have a business that helps manage insurance claims for glass repair and roadside assistance.
Collision Repair
This is the company's main business, making up the vast majority of its revenue (the total money it brings in). When a car is in an accident, these shops handle the repairs, from fixing dents and repainting to more significant structural work. Their primary customers are insurance companies, who pay for the repairs on behalf of their policyholders, as well as individual vehicle owners. This segment has grown significantly by acquiring smaller, independent repair shops across North America.
Auto Glass Repair and Replacement
A smaller but important part of the business focuses on fixing or replacing cracked and broken vehicle glass. This service is often performed at their collision centers but also through dedicated auto glass brands they own, like Glass America and Auto Glass Service in the U.S. Like the collision business, they serve both individual customers and insurance companies who cover the cost of glass damage. This part of the company has also grown by acquiring other auto glass businesses.
Claims Management Services
Boyd operates a business called Gerber National Claims Services, which acts as a third-party administrator (a company that manages services for other companies). This segment doesn't repair cars directly but instead manages glass repair claims, emergency roadside assistance, and initial accident reports for insurance companies. It's a service-based part of the company that supports its main repair businesses and provides a steady stream of revenue.
What management is betting on now
Management's current strategy is focused on continued growth by acquiring more independent repair shops and opening new locations in key markets. They are also implementing a plan called 'Project 360' to make their existing shops more efficient and cut costs, aiming to improve their profit margins (the portion of sales that turns into profit). A major priority is successfully integrating the large acquisition of Joe Hudson's Collision Centers to realize cost savings. The company is also investing in new technologies like vehicle scanning and calibration to service the increasingly complex computer systems in modern cars.
Price history
How the share price has moved
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Is it cheap or expensive?
Fair value $340.83 vs current price $90.40
Wall Street consensus is the average analyst price target: $157.94 (-53.7% lower than our fair-value estimate).
Our most-likely fair value is $340.83 a share — about 277.0% above today's price of $90.40, so the stock currently looks cheap (undervalued).
Is it drowning in debt?
Stretched
Net debt $2.0B. Interest coverage 1.9x.
Net debt
$2.00B
Interest coverage
1.90x
Boyd Group Services Inc.'s profit covers its interest bill about 1.9 times over.
Stretched
Worse cushion
Baseline
Better cushion
BGSI
BASELINE
Boyd Group Services Inc.
Total debt $2.03B Interest coverage 1.90x This is the baseline the peer rows are being compared against.
Total debt $2.22B Interest coverage 2.14x +13% vs BGSI Has roughly the same debt cushion as BGSI.
Total debt $5.31B Interest coverage 4.85x +155% vs BGSI Carries about 2.6x more debt cushion than BGSI.
Total debt $1.38B Interest coverage 1.32x -30% vs BGSI Carries about 1.4x less debt cushion than BGSI.
Total debt $4.67B Interest coverage 2.86x +51% vs BGSI Carries about 1.5x more debt cushion than BGSI.
Total debt $5.53B Interest coverage 3.59x +89% vs BGSI Carries about 1.9x more debt cushion than BGSI.
What you should know
The case for and against BGSI
3 Rewards
1 Risk
Rewards
-
Revenue grew 2.4% last year.
-
Free cash flow was positive in 4/10 years.
-
Dividend yield is 0.5% with 1-year payout history.
Risks
-
Insider ownership is only 0.1% (peer median: 2.3%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
180.80x
Forward P/E
18.67x
P/B
1.45x
P/S
0.70x
EV/EBITDA
14.74x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
46.7%
Operating margin
4.3%
Net margin
0.2%
ROE
0.7%
ROA
3.0%
Health
Liquidity and balance-sheet strength
Debt / equity
1.17x
Current ratio
0.58x
Quick ratio
0.35x
Total debt
$2.03B
Total cash
$22.97M
Growth
How the business has been compounding
Revenue TTM
$3.59B
Revenue 5Y CAGR
8.9%
EPS TTM
0.50
EPS 5Y CAGR
-24.6%
Cash flow
How much cash the business throws off
Operating CF TTM
$352.99M
Free CF TTM
$290.59M
FCF margin
8.1%
Dividend
Shareholder payout
Yield
0.5%
Payout ratio
99.0%
Last ex-div date
2026-06-30