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Westaim
(AVTS)
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Rating:55Neutral
Price Target:
C$21.00
▲(6.33% Upside)
Action:Reiterated
Date:09/24/26
Overall score reflects (1) solid financial flexibility from a very low-leverage balance sheet and improved cash generation, offset by (2) sharply deteriorated earnings with declining revenue and deep TTM losses. Technicals are broadly neutral-to-weak versus longer-term averages, and valuation is constrained by negative earnings (negative P/E) with no dividend yield data to provide support.
Positive Factors
Very low leverage
Minimal leverage gives Westaim substantial financial flexibility relative to a heavily indebted investment company. A sizable equity base and modest debt burden can help it withstand volatility in portfolio values while preserving capacity to manage or support investments over the next several quarters.
Negative Factors
Revenue deterioration
A roughly 22% TTM revenue decline indicates that the current earnings base has weakened materially. For an investment company whose results depend on portfolio performance and investment activity, lower revenue reduces operating support and makes it harder to establish a dependable medium-term growth trajectory.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage
Minimal leverage gives Westaim substantial financial flexibility relative to a heavily indebted investment company. A sizable equity base and modest debt burden can help it withstand volatility in portfolio values while preserving capacity to manage or support investments over the next several quarters.
Read all positive factors
Westaim (AVTS) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$668.22M
Dividend Yield5.14%
Average Volume (3M)15.72K
Price to Earnings (P/E)―
Beta (1Y)0.45
Revenue Growth49.20%
EPS Growth-207.59%
CountryCA
Employees7
SectorGeneral
Sector StrengthN/A
IndustryAsset Management
Share Statistics
EPS (TTM)-4.31
Shares Outstanding33,244,550
10 Day Avg. Volume22,587
30 Day Avg. Volume15,724
Financial Highlights & Ratios
PEG Ratio-0.21
Price to Book (P/B)0.87
Price to Sales (P/S)7.03
P/FCF Ratio-43.72
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-1.87
Revenue Forecast (FY)N/A
Westaim Business Overview & Revenue Model
Company Description
The Westaim Corporation is a private equity and venture capital firm specializing in direct and indirect investments through acquisitions, joint ventures, secondary investments both direct and indirect, fund of fund investments, and other arrangem...
How the Company Makes Money
Westaim makes money primarily through investment returns generated from its portfolio of interests in financial services and insurance-related businesses. Its earnings are typically driven by (a) changes in the fair value of its investments (unrea...
Westaim Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
78
Positive
Cash Flow
64
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 73.35M | 80.58M | 39.23M | 212.28M | 27.57M | 33.69M |
| Gross Profit | 60.48M | 70.48M | 39.23M | 211.27M | 25.67M | 31.70M |
| EBITDA | -137.99M | -39.02M | -19.36M | 186.42M | 17.75M | 28.58M |
| Net Income | -142.80M | -38.67M | -16.18M | 183.98M | 17.96M | 28.21M |
Balance Sheet | ||||||
| Total Assets | 1.15B | 818.89M | 523.22M | 551.82M | 413.29M | 401.66M |
| Cash, Cash Equivalents and Short-Term Investments | 377.82M | 296.62M | 301.91M | 135.03M | 3.43M | 6.56M |
| Total Debt | 7.43M | 7.24M | 0.00 | 128.00K | 261.00K | 413.00K |
| Total Liabilities | 611.50M | 162.23M | 25.80M | 33.48M | 50.22M | 53.98M |
| Stockholders Equity | 539.94M | 651.96M | 497.41M | 518.35M | 363.07M | 347.68M |
Cash Flow | ||||||
| Free Cash Flow | 323.28M | -12.95M | -46.57M | -3.09M | -2.46M | -5.13M |
| Operating Cash Flow | 335.23M | -4.91M | -46.57M | -3.09M | -2.46M | -5.12M |
| Investing Cash Flow | -479.55M | -218.21M | 223.11M | 198.89M | 1.90M | 3.99M |
| Financing Cash Flow | -6.90M | 194.12M | -9.67M | -64.20M | -2.56M | -1.05M |
Westaim Technical Analysis
Negative
19.75
Price Trends
20.77
Negative
21.85
Negative
23.21
Negative
Market Momentum
0.07
Negative
46.88
Neutral
14.93
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:AVTS, the sentiment is Negative. The current price of 19.75 is below the 20-day moving average (MA) of 20.17, below the 50-day MA of 20.77, and below the 200-day MA of 23.21, indicating a bearish trend. The MACD of 0.07 indicates Negative momentum. The RSI at 46.88 is Neutral, neither overbought nor oversold. The STOCH value of 14.93 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:AVTS.
Westaim Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | C$1.06B | 1.72 | 28.64% | ― | -18.31% | 265.83% | |
81 Outperform | C$1.06B | 7.73 | 11.06% | 1.20% | -93.61% | 24.49% | |
79 Outperform | C$764.49M | 2.16 | 47.52% | 2.52% | 33.16% | ― | |
73 Outperform | C$1.01B | 6.92 | 11.46% | 3.46% | 12.19% | 26.48% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | C$668.22M | -3.22 | -23.01% | 5.14% | 49.20% | -207.59% | |
52 Neutral | C$445.97M | 22.82 | 7.95% | 10.29% | -1.48% | -47.10% |
* General Sector Average
TSE:AVTS
Westaim
20.12
-8.64
-30.04%
TSE:AGF.B
AGF Management B NV
15.31
1.34
9.55%
TSE:QRC
Queen's Road Capital Investment
14.10
5.73
68.56%
TSE:CVG
Clairvest
80.30
10.13
14.43%
TSE:FSZ
Fiera Capital A
4.20
-1.73
-29.15%
TSE:SEC
Senvest Capital
440.00
88.75
25.27%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.