TSX Value Stocks Trading Below Estimated Worth In September 2026
As Canadian investors navigate the complexities of September 2026, they find themselves buoyed by a clearer understanding of AI demand and Federal Reserve policies, even as potential U.S. tariffs loom on the horizon. In this landscape, identifying undervalued stocks on the TSX requires a keen eye for companies that demonstrate strong fundamentals and resilience amidst evolving market conditions.
Top 10 Undervalued Stocks Based On Cash Flows In Canada
| Name | Current Price | Fair Value (Est) | Discount (Est) |
| Tantalus Systems Holding (TSX:GRID) | CA$3.75 | CA$7.16 | 47.6% |
| Santacruz Silver Mining (TSXV:SCZ) | CA$14.01 | CA$27.67 | 49.4% |
| Pason Systems (TSX:PSI) | CA$15.25 | CA$29.97 | 49.1% |
| Pan American Silver (TSX:PAAS) | CA$71.33 | CA$139.67 | 48.9% |
| NFI Group (TSX:NFI) | CA$23.25 | CA$43.59 | 46.7% |
| Martinrea International (TSX:MRE) | CA$10.23 | CA$20.41 | 49.9% |
| Groupe Dynamite (TSX:GRGD) | CA$60.17 | CA$115.33 | 47.8% |
| Constellation Software (TSX:CSU) | CA$3047.11 | CA$5935.37 | 48.7% |
| Celestica (TSX:CLS) | CA$384.25 | CA$699.56 | 45.1% |
| Aritzia (TSX:ATZ) | CA$128.51 | CA$246.91 | 48% |
Let's dive into some prime choices out of the screener.
Pason Systems (TSX:PSI)
Overview: Pason Systems Inc. offers instrumentation and data management systems for oil and gas drilling operations in Canada, the United States, and internationally, with a market cap of CA$1.15 billion.
Operations: The company generates revenue from providing instrumentation and data management systems tailored for the oil and gas drilling sector across Canada, the United States, and other international markets.
Estimated Discount To Fair Value: 49.1%
Pason Systems is trading at CA$15.25, significantly below its estimated future cash flow value of CA$29.97, indicating it may be undervalued based on cash flows. Despite a decline in profit margins from 17.4% to 11.5%, earnings are projected to grow at an impressive 24.6% annually, outpacing the Canadian market's growth rate of 11.1%. However, its dividend track record remains unstable and return on equity is forecasted to be modest at 12.8%.
- Our growth report here indicates Pason Systems may be poised for an improving outlook.
- Unlock comprehensive insights into our analysis of Pason Systems stock in this financial health report.
SSR Mining (TSX:SSRM)
Overview: SSR Mining Inc. is involved in the acquisition, exploration, and development of precious metal resource properties across the United States, Türkiye, Canada, and Argentina with a market cap of CA$10.15 billion.
Operations: The company's revenue is derived from its operations at Puna ($570.33 million), Seabee ($162.06 million), Marigold ($619.61 million), and Cripple Creek & Victor Gold Mine (CC&V) ($581.15 million).
Estimated Discount To Fair Value: 27.5%
SSR Mining, priced at CA$52.22, trades well below its future cash flow value of CA$72.02, reflecting potential undervaluation. Despite a forecasted revenue growth of 9.7% annually—outpacing the Canadian market's 4%—production costs remain high with all-in sustaining costs at US$2,622 per ounce in Q2 2026. Earnings are expected to grow faster than the market at 17.1%, though recent production declines in gold and silver may pose challenges.
- Upon reviewing our latest growth report, SSR Mining's projected financial performance appears quite optimistic.
- Click to explore a detailed breakdown of our findings in SSR Mining's balance sheet health report.
Kraken Robotics (TSXV:PNG)
Overview: Kraken Robotics Inc. is a marine technology company that designs, manufactures, and sells sonar and optical sensors, batteries, and underwater robotic equipment for military and commercial applications, with a market cap of CA$1.56 billion.
Operations: The company's revenue is derived from two main segments: Products, contributing CA$66.67 million, and Services, adding CA$42.05 million.
Estimated Discount To Fair Value: 27.5%
Kraken Robotics, trading at CA$5.10, is undervalued compared to its future cash flow value of CA$7.04. Forecasted revenue growth of 60.1% annually significantly exceeds the Canadian market's growth rate, with expectations for profitability within three years. However, recent insider selling and a net loss of CA$10.84 million for the first half of 2026 highlight potential risks despite strong order momentum in maritime defense and offshore energy sectors.
- Our earnings growth report unveils the potential for significant increases in Kraken Robotics' future results.
- Delve into the full analysis health report here for a deeper understanding of Kraken Robotics.
Where To Now?
- Get an in-depth perspective on all 32 Undervalued TSX Stocks Based On Cash Flows by using our screener here.
- Have a stake in these businesses? Integrate your holdings into Simply Wall St's portfolio for notifications and detailed stock reports.
- Join a community of smart investors by using Simply Wall St. It's free and delivers expert-level analysis on worldwide markets.
Ready For A Different Approach?
- Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
- Diversify your portfolio with solid dividend payers offering reliable income streams to weather potential market turbulence.
- Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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