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Big Banc Split (BNK) AI Stock Analysis

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TSE:BNK

Big Banc Split

(TSX:BNK)

Select Model
Rating:63Neutral
Price Target:CAD 15.50â–²(5.87% Upside)
Action:initiatedcoverage
Date:09/24/26

The score is held back mainly by uneven financial quality—especially negative recent operating/free cash flow despite strong reported earnings and higher leverage in 2025—while the very attractive valuation (low P/E and high dividend yield) provides a significant offset. Technical signals are neutral to slightly bearish and do not meaningfully improve the near-term outlook.

Positive Factors
Strong reported profitabilityStrong reported profitability provides evidence that the business can generate substantial earnings in favorable periods. The exceptionally high 2025 net margin supports financial strength over the next several months, although its sustainability depends on whether the underlying earnings base becomes more consistent.
Negative Factors
Negative recent cash conversionNegative operating and free cash flow across the two most recent annual periods shows that reported earnings have not translated reliably into cash. This weakens confidence in earnings quality, limits internally generated funding, and makes financial performance more dependent on volatile working-capital or other cash-flow movements.

Big Banc Split (BNK) vs. iShares MSCI Canada ETF (EWC)

-10%0%10%20%30%40%50%60%TSE:BNK+40.95%EWC+21.27%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
CAD 23.54M
Dividend Yield
8.31%
Average Volume (3M)
3,714
Price to Earnings (P/E)
1.5
Beta (1Y)
0.58
Revenue Growth
288.09%
EPS Growth
138.83%
Country
Canada
Employees
―
Sector
Financial
Sector Strength
68
Industry
Asset Management

Big Banc Split Business Overview & Revenue Model

Company Description

Big Banc Split Corp. is an equity-focused investment fund, established and managed by Purpose Investments Inc. This Canadian-based entity commenced operations on May 15, 2020, primarily investing its capital across Canada's public equity markets.

Big Banc Split Financial Statement Overview

Summary

Reported profitability is strong (Income Statement score 78) and equity remains positive, but the overall quality is weakened by very poor recent cash conversion (Cash Flow score 38 with negative operating/free cash flow in 2024–2025) and a meaningful step-up in leverage in 2025 (Balance Sheet score 63). The year-to-year volatility across revenue/earnings and cash flows further reduces confidence in consistency.

Income Statement

78Positive

Balance Sheet

63Positive

Cash Flow

38Negative
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue13.35M8.14M5.09M2.14M-3.96M13.36M
Gross Profit13.01M7.84M5.09M2.14M-3.96M13.36M
EBITDA15.67M9.41M4.96M1.97M-7.97M13.27M
Net Income15.67M9.41M4.96M1.97M-4.10M13.27M
Balance Sheet
Total Assets46.62M39.12M30.40M28.52M32.27M44.90M
Cash, Cash Equivalents and Short-Term Investments1.46M2.04M57.86K765.52K0242.01K
Total Debt15.81M13.43M00200.87K0
Total Liabilities16.57M16.24M13.87M13.90M14.42M16.40M
Stockholders Equity30.05M22.88M16.53M14.62M17.86M28.51M
Cash Flow
Free Cash Flow-410.88K-263.23K-140.73K5.22M5.19M1.98M
Operating Cash Flow-410.88K-263.23K-140.73K5.22M5.19M1.98M
Investing Cash Flow3.55M4.17M1.36M000
Financing Cash Flow-1.84M-1.93M-1.93M-4.25M-5.64M-5.77M

Big Banc Split Technical Analysis

Technical Analysis SentimentPositive
Last Price14.64

Price Trends

50DMA14.19Positive
100DMA14.41Positive
200DMA13.18Positive

Market Momentum

MACD0.18Negative
RSI55.87Neutral
STOCH69.52Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:BNK, the sentiment is Positive. The current price of 14.64 is above the 20-day moving average (MA) of 14.21, above the 50-day MA of 14.19, and above the 200-day MA of 13.18, indicating a bullish trend. The MACD of 0.18 indicates Negative momentum. The RSI at 55.87 is Neutral, neither overbought nor oversold. The STOCH value of 69.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:BNK.

Big Banc Split Peers Comparison

Overall Rating

UnderperformOutperform
Sector (68)

Financial Indicators

TSE:BNK against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TSE:IGMTSE:IGM81OutperformCAD 18.85B16.5312.91%2.95%19.92%20.90%
TSE:AGF.BTSE:AGF.B73OutperformCAD 931.71M6.6911.46%3.62%12.19%26.48%
Sector *68Neutral$18.00B11.429.92%3.81%9.73%1.22%
TSE:BNKTSE:BNK63NeutralCAD 28.27M1.4959.22%8.31%288.09%138.83%
TSE:FSZTSE:FSZ47NeutralCAD 298.73M15.397.95%15.32%-1.48%-47.10%

* Financial Sector Average

Performance Comparison

-50%0%50%TSE:BNKTSE:IGMTSE:AGF.BTSE:FSZDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
TSE:BNK and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TSE:BNKBig Banc Split Corp.14.644.0638.40%
TSE:IGMIGM Financial82.1529.2855.38%
TSE:AGF.BAgf Management B Nv14.651.007.31%
TSE:FSZFiera Capital A2.82-3.02-51.75%

Big Banc Split Corporate Events

Business Operations and StrategyDividends

Purpose Investments Sets September 2026 ETF and Fund Distributions

Positive
Sep 18, 2026

Purpose Investments Inc. has declared its regular September 2026 cash distributions for a wide range of its open-end ETFs and closed-end funds, spanning equity yield mandates, credit strategies, global bond products, digital asset yield ETFs and mult...

Business Operations and StrategyDividends

Purpose Investments Sets August 2026 ETF and Fund Distributions

Positive
Aug 27, 2026

Purpose Investments Inc. announced its August 2026 cash distributions for a wide slate of open-end ETFs and closed-end funds, detailing per-unit payouts and record dates across equity, credit, bond, digital asset, and multi-asset income strategies. E...

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.

Date of analysis: Sep 24, 2026