{"id":748757,"date":"2021-03-09T12:21:25","date_gmt":"2021-03-09T17:21:25","guid":{"rendered":"https:\/\/www.fool.ca\/?page_id=748757"},"modified":"2024-09-16T15:49:52","modified_gmt":"2024-09-16T19:49:52","slug":"how-to-find-undervalued-stocks","status":"publish","type":"page","link":"https:\/\/www.fool.ca\/investing\/how-to-find-undervalued-stocks\/","title":{"rendered":"Top Undervalued Canadian Stocks of 2024"},"content":{"rendered":"\n<p>An undervalued stock is a stock whose trading price appears to be lower than the company\u2019s intrinsic value. The company underlying the stock is typically in good financial standing, with both a solid earnings history and future growth prospects still ahead.<\/p>\n\n\n\n<p>But whether from poor investor sentiment or an overall <a href=\"https:\/\/www.fool.ca\/investing\/stock-market-correction\/\">market correction<\/a>, the share price appears to be wrong \u2013 that is, it does not reflect the company\u2019s true value. This mispricing might give astute value investors a chance to buy a high-quality stock at a significant discount. <\/p>\n\n\n\n<p>As good as that sounds for <a href=\"https:\/\/www.fool.ca\/investing\/best-investing-strategies-canadians\/\">your investment strategy<\/a>, investing in undervalued stocks comes with a steep challenge: you must find them first. Below, we\u2019re going to show you how to find undervalued stocks, as well as name a few stocks that are currently trading under their intrinsic value.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-an-undervalued-stock\">What is an undervalued stock?<\/h2>\n\n\n\n<p>An undervalued stock is a stock whose underlying company appears to have a solid financial record\u2014for example, the company is profitable, with low or no debt, healthy free cash flow, and a stable earnings history\u2014but whose trading price is much lower than what analysts and investors might expect.<\/p>\n\n\n\n<p>Undervalued stocks are sometimes developing companies with long-term growth prospects, but whose prices are trading below that of its peers and competitors. More often they\u2019re well-established companies whose stocks are underestimated or underappreciated by investors, even though their underlying revenue and earnings haven\u2019t changed.<\/p>\n\n\n\n<p>Generally speaking, a good value stock will have the following characteristics:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A well-established brand or well-known name with a track record of long-term growth.<\/li>\n\n\n\n<li>Unwavering profitability with stable cash flow and low or no debt.<\/li>\n\n\n\n<li>A clean record, that is, the company isn\u2019t involved in a scandal that threatens its financial future, nor does it depend on technology that\u2019s nearly obsolete.&nbsp;<\/li>\n\n\n\n<li>An intrinsic value that\u2019s higher than its share price.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-what-is-intrinsic-value\">What is intrinsic value?<\/h3>\n\n\n\n<p id=\"h-intrinsic-value-is-a-company-s-fundamental-worth-you-can-calculate-it-by-subtracting-a-company-s-assets-both-tangible-and-intangible-by-its-liabilities-or-you-can-use-financial-metrics-such-as-p-e-ratios-to-compare-stock-prices-to-things-like-earnings-and-revenue\">Intrinsic value is a company\u2019s fundamental worth. You can calculate it by subtracting a company\u2019s assets (both tangible and intangible) by its liabilities. Or you can use financial metrics (such as <a href=\"https:\/\/www.fool.ca\/investing\/what-is-price-to-earning-ratio\/\">P\/E ratios<\/a>) to compare stock prices to things like earnings and revenue.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-undervalued-vs-overvalued-stocks\">Undervalued vs. Overvalued Stocks<\/h3>\n\n\n\n<p id=\"h-value-investors-believe-a-stock-s-intrinsic-value-is-lower-than-its-trading-price-when-they-calculate-the-intrinsic-value-they-can-see-if-the-stock-price-matches-the-company-s-fundamentals-not-just-the-whims-of-the-market-a-stock-that-trades-higher-than-its-intrinsic-value-could-be-considered-overvalued-which-might-be-a-red-flag-when-the-intrinsic-value-is-lower-however-the-stock-could-be-undervalued-which-could-signal-a-bargain\">Value investors believe a stock\u2019s intrinsic value is lower than its trading price. When they calculate the intrinsic value, they can see if the stock price matches the company\u2019s fundamentals, not just the whims of the market. A stock that trades <em>higher <\/em>than its intrinsic value could be considered <em>overvalued<\/em>, which might be a red flag<em>. <\/em>When the intrinsic value is lower than the stock price, however, the stock could be <em>undervalued<\/em>, which could signal a bargain. &nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-best-undervalued-canadian-stocks\">Best undervalued Canadian stocks<\/h2>\n\n\n\n<p>There are plenty of undervalued stocks in Canada: you just have to know where to look. To help you get started, here are five of the best undervalued stocks trading today in Canada. &nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Undervalued Stocks&nbsp;<\/strong><\/td><td><strong>Market Cap<\/strong><\/td><td><strong>P\/E Ratio<\/strong><\/td><td><strong>P\/B Ratio<\/strong><\/td><td><strong>Possible Reasons for Price Drop<\/strong><\/td><\/tr><tr><td>Shopify (<a class=\"tickerized-link\" href=\"https:\/\/www.fool.ca\/company\/tsx-shop-shopify-inc\/371149\/\">TSX:SHOP<\/a>) (<a class=\"tickerized-link\" href=\"https:\/\/www.fool.ca\/company\/nyse-shop-shopify\/371150\/\">NYSE:SHOP<\/a>)<\/td><td>$543 billion<\/td><td>253.5<\/td><td>4.1<\/td><td>High inflation or concerns over a possible market recession.<\/td><\/tr><tr><td>Royal Bank of Canada (<a class=\"tickerized-link\" href=\"https:\/\/www.fool.ca\/company\/tsx-ry-royal-bank-of-canada\/369813\/\">TSX:RY<\/a>) (<a class=\"tickerized-link\" href=\"https:\/\/www.fool.ca\/company\/nyse-ry-royal-bank-of-canada\/369812\/\">NYSE:RY<\/a>)<\/td><td>$139 billion<\/td><td>11<\/td><td>1.8<\/td><td>Interest rate hikes, higher borrowing costs, or high inflation.<\/td><\/tr><tr><td>Constellation Software (<a class=\"tickerized-link\" href=\"https:\/\/www.fool.ca\/company\/tsx-csu-constellation-software-inc\/343181\/\">TSX:CSU<\/a>)<\/td><td>$39 billion<\/td><td>75.8<\/td><td>21.9<\/td><td>High inflation, an overall market correction, or poor investor sentiment over tech stocks.<\/td><\/tr><tr><td>Air Canada (<a class=\"tickerized-link\" href=\"https:\/\/www.fool.ca\/company\/tsx-ac-air-canada\/335179\/\">TSX:AC<\/a>)<\/td><td>$6.24 billion<\/td><td>-5.4<\/td><td>-5.4<\/td><td>Air travel restrictions (e.g., COVID-19 pandemic) or decline (e.g., recession).<\/td><\/tr><tr><td>CIBC (<a class=\"tickerized-link\" href=\"https:\/\/www.fool.ca\/company\/tsx-cm-canadian-imperial-bank-of-commerce\/342163\/\">TSX:CM<\/a>) (<a class=\"tickerized-link\" href=\"https:\/\/www.fool.ca\/company\/nyse-cm-canadian-imperial-bank-of-commerce\/342162\/\">NYSE:CM<\/a>)<\/td><td>$58 billion<\/td><td>9.2<\/td><td>1.3<\/td><td>Interest rate hikes (e.g., making mortgages more expensive) or a recession (e.g., a decline in loans).<\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\"><em>Data updated as of October 5, 2022.<\/em><\/figcaption><\/figure>\n\n\n\n<p><strong>RELATED:<\/strong> <a href=\"https:\/\/www.fool.ca\/investing\/best-canadian-stocks-to-buy\/\">Best Canadian Stocks to Buy<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-why-would-a-stock-be-undervalued\">Why would a stock be undervalued?<\/h2>\n\n\n\n<p>Stocks become undervalued for a few main reasons:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-1-bad-news-or-quarterly-reports\"><strong>1. Bad news or quarterly reports<\/strong>&nbsp;<\/h3>\n\n\n\n<p>If a company misses quarterly earnings expectations, shares could plummet. Additionally, if a company has a massive recall on their products, or an executive is involved in a public scandal, share prices could drop considerably in a short period of time.<\/p>\n\n\n\n<p>Depending on the&nbsp;news or earnings reports, these could be the easiest forms of undervaluing to diagnose. Be sure to do your own homework though to understand just how serious the bad news is, as not all companies can recover from a public scandal.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-2-sector-cyclicality\"><strong>2. Sector cyclicality<\/strong>&nbsp;<\/h3>\n\n\n\n<p>Some stocks are cyclical, meaning their earnings and revenue follow economic cycles of expansion and contraction.<\/p>\n\n\n\n<p>These cycles are an inevitable part of a healthy economy, but investors aren\u2019t always aware of this. When an economic downturn causes a company to lose revenue, investors might sell out, even if the company\u2019s intrinsic value hasn\u2019t changed much.<\/p>\n\n\n\n<p>Examples of cyclical stocks include travel companies (airline and hotel), automakers, restaurants, retail stores, and tech companies.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-3-market-crashes-and-corrections\"><strong>3. Market crashes and corrections<\/strong><\/h3>\n\n\n\n<p>When there\u2019s a <a href=\"https:\/\/www.fool.ca\/investing\/stock-market-crash\/\">stock market crash<\/a>, <a href=\"https:\/\/www.fool.ca\/investing\/what-is-a-bear-market\/\">bear market<\/a>, or market correction, high-quality companies often start selling for lower prices. Because investors are sheepish during market downturns, they\u2019re reluctant to buy these stocks, even if the company still has intrinsic value.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-to-find-undervalued-stocks\">How to find undervalued stocks<\/h2>\n\n\n\n<p>Finding undervalued stocks requires research, fundamental analysis, and patience\u2014<em>lots <\/em>of patience. It can get tedious at times\u2014especially when you\u2019re using financial metrics and ratios\u2014and you\u2019ll often have to analyze numerous companies before you find a true value stock. To help you get there, here are three important steps to keep in mind.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-1-start-with-what-you-know\">1. Start with what you know<\/h3>\n\n\n\n<p>When you\u2019re evaluating stocks for the first time, it\u2019s a good idea to start with a handful of <a href=\"https:\/\/www.fool.ca\/investing\/what-is-a-stock-market-sector\/\">market sectors or industries<\/a> you\u2019re already familiar with. For example, if you\u2019re a biologist, you might want to consider stocks that are within your field of expertise (or even adjacent to it) like genomics or biotech.<\/p>\n\n\n\n<p>Not only does this give you a head start in your analysis, but it also groups companies with similar business models and products. This will make your evaluation more accurate. For example, two genomics companies will likely have similar debt ratios than, say, a genomics company and a mining company or bank.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-2-use-financial-metrics-to-find-intrinsic-value\">2. Use financial metrics to find intrinsic value<\/h3>\n\n\n\n<p id=\"h-perhaps-the-most-popular-way-to-find-value-stocks-is-to-use-a-handful-of-financial-metrics-or-valuation-tools-to-figure-out-the-stock-s-intrinsic-value-once-you-have-a-good-idea-of-the-intrinsic-value-you-can-compare-it-to-the-stock-s-price-to-determine-if-it-is-undervalued\">Perhaps the most popular way to find <a href=\"https:\/\/www.fool.ca\/investing\/top-canadian-value-stocks\/\">value stocks<\/a> is to use a handful of financial metrics, or valuation tools, to figure out the stock\u2019s intrinsic value. Once you have a good idea of the intrinsic value, you can compare it to the stock\u2019s price to determine if it is undervalued.<\/p>\n\n\n\n<p id=\"h-a-slew-of-financial-metrics-can-be-used-to-find-a-company-s-true-value-but-here-s-a-quick-break-down-of-the-three-most-popular\">A <em>slew <\/em>of financial metrics can be used to find a company\u2019s \u2018true\u2019 value. But here\u2019s a quick breakdown of the three most popular.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Financial Metrics<\/strong><\/td><td><strong>What it is<\/strong><\/td><td><strong>How to Calculate it<\/strong><\/td><td><strong>How to Use it<\/strong><\/td><td><strong>Shortcomings<\/strong><\/td><\/tr><tr><td><strong>Price-to-earnings (P\/E) ratio<\/strong><\/td><td>A valuation tool that compares a company\u2019s stock price with its earnings per share (EPS).<\/td><td>Divide the stock\u2019s current share price by its most recent earnings per share (EPS).<\/td><td>Find the average P\/E ratio for whatever sector your stock falls in. If your stock has a lower P\/E than the average, it could mean it\u2019s undervalued. A higher P\/E could mean it\u2019s overvalued.<\/td><td>P\/E ratios have many limitations. It doesn\u2019t factor in debt, nor does it tell value investors about a company\u2019s growth prospects. To compensate for these shortcomings, use it with other financial metrics.<\/td><\/tr><tr><td><strong>Price-to-book (P\/B) ratio<\/strong><\/td><td>A ratio that compares the stock\u2019s price with its book value (assets minus liabilities).<\/td><td>Divide the stock\u2019s current share price by book value per share.<\/td><td>You\u2019ll need a few comparable companies to make this work. Find the P\/B ratio for the company you\u2019re evaluating along with some competitors. If your company has a lower P\/B than others, it could be a sign it\u2019s undervalued.<\/td><td>Be sure to research the context of the type of company you\u2019re evaluating (i.e., it may be \u201ccheap for a reason\u201d). The P\/B ratio can be quite useful for asset-heavy companies, like banks; it\u2019s less useful for companies with light assets, like tech companies.<\/td><\/tr><tr><td><strong>Debt-to-equity (D\/E) ratio<\/strong><\/td><td>A ratio that compares a company\u2019s debts with its assets. It can tell you how effectively a company is using debt financing (i.e., if a company has too much or too little debt).<\/td><td>Divide a company\u2019s total debts by its shareholder\u2019s equity (assets minus liabilities).<\/td><td>A low debt-to-equity ratio means the company uses less debt to finance its assets, whereas a higher ratio means the company uses more debt. Again, you should compare your company with similar ones, as a single debt-to-equity ratio won\u2019t mean much without a benchmark. If your company has a lower debt-to-equity ratio than similar companies, that could be a good sign it\u2019s undervalued.<\/td><td>Debt isn\u2019t always a bad thing. Often debt is used to finance growth and research, which could bring in more revenue in the future. A company could have a high debt-to-equity ratio while still being a good value.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Again, these are only three financial metrics you can use. Others include return on equity (ROE), earnings yield, dividend yield, current ratio, price\/earnings-to-growth ratio (PEG), and cash flow. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-3-be-sure-it-s-not-a-value-trap\">3. Be sure it\u2019s not a value trap<\/h3>\n\n\n\n<p>Finally, pay close attention to value traps. These are stocks that appear to be on sale, but their lower prices <em>actually<\/em> reflect their deteriorating business. For example, a big-name retailer may be slow to adapt new technology, causing their business model to be outdated.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-why-would-someone-buy-undervalued-stocks\">Why would someone buy undervalued stocks?<\/h2>\n\n\n\n<p>Investors buy undervalued stocks in the hopes that the market will eventually recognize the stock\u2019s intrinsic value. By buying the stock when the price is low, investors can make handsome gains when the stock price reflects the company\u2019s true value.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-should-you-invest-in-undervalued-stocks-in-canada\">Should you invest in undervalued stocks in Canada?<\/h2>\n\n\n\n<p>Now is a great time to look for undervalued stocks in Canada. With the recent market correction in the Canadian stock market, as well as the bear markets in popular U.S. indexes, many high-quality companies have seen their stock prices tumble. While other stock investors are timid about buying, value investors are having a field day, gobbling up stocks that are trading far below their intrinsic worth.<\/p>\n\n\n\n<p>But be cautious: finding undervalued stocks is one thing; for the market to recognize the stock is undervalued is another. Be sure the value stocks you\u2019re buying correspond to companies with solid financial footing, whose share prices are likely to rebound later. Use <a href=\"https:\/\/www.fool.ca\/investing\/what-is-fundamental-analysis\/\">fundamental analysis<\/a> with the financial metrics mentioned above to analyze the stock\u2019s revenue, earnings, assets, and debt. If the company appears to be in solid financial condition, the low stock price might be a bargain.<\/p>\n\n\n\n<p>For investors who want more upside potential, you could also <a href=\"https:\/\/www.fool.ca\/investing\/how-to-choose-growth-stocks\/\">invest in growth stocks<\/a>. These stocks are companies that are growing faster than the average company in their industry. They come with more risk, but also more reward: when you buy these stocks at a low price, and the company explodes in value, you can earn some handsome returns.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>An undervalued stock is a stock whose trading price appears to be lower than the company\u2019s intrinsic value. The company &hellip;<\/p>\n","protected":false},"author":147463,"featured_media":836231,"parent":441,"menu_order":2,"comment_status":"closed","ping_status":"closed","template":"templates\/evergreen.php","meta":{"_acf_changed":false,"ep_exclude_from_search":false,"footnotes":""},"tickers_global":[342162,369812,371150,335179,342163,343181,369813,371149],"class_list":["post-748757","page","type-page","status-publish","has-post-thumbnail","hentry","tickers_global-nyse-cm","tickers_global-nyse-ry","tickers_global-nyse-shop","tickers_global-tsx-ac","tickers_global-tsx-cm","tickers_global-tsx-csu","tickers_global-tsx-ry","tickers_global-tsx-shop"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v23.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Top Undervalued Canadian Stocks of 2024 | The Motley Fool Canada<\/title>\n<meta name=\"description\" content=\"See the top undervalued Canadian stocks and learn how to find undervalued stocks through your own research.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fool.ca\/investing\/how-to-find-undervalued-stocks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Top Undervalued Canadian Stocks of 2024\" \/>\n<meta property=\"og:description\" content=\"See the top undervalued Canadian stocks and learn how to find undervalued stocks through your own research.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.fool.ca\/investing\/how-to-find-undervalued-stocks\/\" \/>\n<meta property=\"og:site_name\" content=\"The Motley Fool Canada\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/MotleyFoolCanada\/\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-16T19:49:52+00:00\" \/>\n<meta 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