IBG CN -- IBI Group Inc.

[Kokomo]

anyone have any familiarity with IBI Group (IBG CN) based in Toronto?  Seems like a fairly high quality company on its face that is cheap. 

 

architecture and engineering services firm that claims to have some disruptive technology and processes.  20% of revenue comes from an "intelligence" practice with 20% ebitda margins. 

 

ROIC is pretty consistently 15-20%, decent FCF, net debt balance sheet, though.

 

Stock goes out at ~9x earnings and ~6x ev/ebitda.  trading below its 2004 IPO price despite significant growth on top and bottom line.