Planet Based Foods Global Inc. (PBF.CN)

Planet Based Foods Global Inc. (PBF.CN) — VMCI valuation read

Headline read on PBF.CN: VMCI of 35/100 versus a Healthcare sector median of 50. The 15-point below-median position is what makes Planet Based Foods Global Inc. a relative-value laggard in the mid-cap cohort, before any pillar-level review.

Form 4 filings on PBF.CN: zero in the trailing 30 days. The absence of insider transactions is itself a data point, just a low-information one. The thesis runs on financials and price action until that changes.

**Investor frame.** Three reads on PBF.CN: value (PBF.CN trades at 27.0x earnings, 50% above the Healthcare median of 18.0x), quality (ROIC of 19.0% sits 9.0pp above the Healthcare median (10.0%)), and risk (net debt to EBITDA of 3.2x is the binding constraint on the bear case). The value read also implies an EV/EBITDA gap of +4.0x against the Healthcare 12.0x baseline.

PBF.CN fell 3.7% over the trailing 7 days, with a +0.2% read on a 30-day basis.