I've decided to take a different look at the comparisons of these 2 companies. In calculating enterprise value I've decided to use interest bearing debt + pension obligations but I've omitted lease liabilities(pre ifrs-16)

I examined the twelve trailing months of operating cash flow before changes in non cash working capital. In addition to this, I've added restructuring expenses and finance costs for both companies which includes interest bearing debt + lease interest but ive subtracted lease repayment for the year. (Pre-ifrs-16) 

Lastly, we know the governments have had a big financial impact on many companies so I've decided to subtract the government subsidies to have a clearer picture of the cash flows going forward. Let's call this number "adjusted ebitda." 

EV= enterprise value 
k= * 1000


                            Adjusted ebitda             EV


DCM                    $21,162k                  $94,477k

Sxp                      $22,279k.                 $113,494k

Additional info: 
 

DCM 

cash flow ttm = $33,048k (before changes in non cash)
lease interest expense is included in this calculation
interest expense(non lease) = $2,317k
restructuring expense = $6,138k
gov't grant = ($8,572k)
lease payment = ($11,769k) 

adjusted ebitda = $21,162k 

SXP 

cash flow ttm = $26,020,992
restructuring= $1,836,425
total interest = $2,412,346 (includes lease + regular debt)
Govn't assistance= ($3,557,825)
lease repayment= ($ 4,431,978) 

adjusted ebitda = $22,279.960k 


It is interesting to note the "adjusted ebitda" numbers are very close but Data Communication has the lower enterprise value. Put another way, DCM appears to be trading at a cheaper valuation using Ev to ebitda. Supremex has the higher depreciation expense which comes in at $5,659k compared to DCM which has a depreciation expense of $3,254 for the last 12 months. 

In my opinion, both companies are trading at attractive valuations and will likely surprise many in the coming years. DCM has lower interest bearing debt, higher lease payments and lower reinvestment requirements. In addition to this, we will likely see further cost reductions from sg&a which is expected to be in the 18-20% of sales going forward. If we use Q2 as any indication, the expected cost savings would add at least $3,878k *4 = $15,530k to operating income on an annualized basis. This would be impressive. It would not be a bad strategy to allocate some money in either of these companies. I think both could be big winners down the road.

Hope this information helps. Have a nice day.