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Canaccord Genuity
(TSX:CF)
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Rating:55Neutral
Price Target:
C$14.50
▼(-0.21% Downside)
Action:Reiterated
Date:08/10/26
Overall score reflects a tug-of-war between improving operating momentum (strong earnings-call quarter, margin improvement guidance, and record client assets) and weaker underlying financial statements (ongoing TTM net loss, negative margins/ROE, and higher leverage). Technicals are broadly neutral and valuation is constrained by losses despite a moderate dividend yield.
Positive Factors
Broad-Based Revenue Growth
Growth across wealth management and capital markets reduces reliance on one revenue stream. Continued expansion in advisory, investment banking and wealth services could support stronger operating leverage over the next several months.
Negative Factors
Persistent Net Losses and Negative Returns
Reported losses and negative shareholder returns indicate that recent adjusted improvement has not yet translated into durable GAAP profitability. Thin operating margins leave earnings vulnerable if transaction activity or market conditions weaken.
Read all positive and negative factors
Positive Factors
Negative Factors
Broad-Based Revenue Growth
Growth across wealth management and capital markets reduces reliance on one revenue stream. Continued expansion in advisory, investment banking and wealth services could support stronger operating leverage over the next several months.
Read all positive factors
Canaccord Genuity (CF) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$1.48B
Dividend Yield2.5%
Average Volume (3M)124.26K
Price to Earnings (P/E)―
Beta (1Y)1.24
Revenue Growth32.06%
EPS Growth-63.54%
CountryCA
Employees3,121
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)-1.05
Shares Outstanding103,020,480
10 Day Avg. Volume176,685
30 Day Avg. Volume124,263
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)1.52
Price to Sales (P/S)0.53
P/FCF Ratio1.36
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$17.58Price Target Upside21.01% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)1.35
Revenue Forecast (FY)C$2.27B
Canaccord Genuity Business Overview & Revenue Model
Company Description
Canaccord Genuity Group Inc. functions as a diversified financial services enterprise, delivering a broad spectrum of investment products, along with specialized investment banking and brokerage solutions, to a diverse clientele including institut...
How the Company Makes Money
Canaccord Genuity makes money primarily by earning fees and commissions across investment banking/capital markets, brokerage/trading-related activities, and wealth management. (1) Investment banking and capital markets: The firm earns advisory fee...
Canaccord Genuity Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q1-2027)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The call presented a strong operational and financial quarter with significant revenue and profitability gains, record client assets, and effective expense discipline. Growth was broad-based across wealth management and capital markets with particularly large percentage increases in advisory, investment banking, and Australian revenue following the Wilsons integration. Notable risks include an elevated compensation ratio driven by share-based accruals, the divestiture-related reduction in principal trading revenue, structural weakness and limited new-issue activity in the U.K. capital markets, and the timing uncertainty of future deal flow. Management emphasized liquidity, strategic optionality, employee alignment and a new dividend, indicating confidence despite market sensitivity.Positive Updates
Strong Firm-Wide Revenue Growth
Firm-wide revenue rose 29% year-over-year to $577 million, driven by broad-based strength across wealth management and capital markets.
Negative Updates
Elevated Compensation Ratio
Firm-wide compensation ratio was elevated at 62% for the quarter, primarily reflecting the fair value charge on share-based payment awards; excluding this charge the ratio would have been 59.5%.
Read all updates
Q1-2027 Updates
Positive
Negative
Strong Firm-Wide Revenue Growth
Firm-wide revenue rose 29% year-over-year to $577 million, driven by broad-based strength across wealth management and capital markets.
Read all positive updates
Company Guidance
Guidance: management said the firm is “comfortably on track” to deliver a low single‑digit improvement in firm‑wide pretax operating margin this fiscal year, while pursuing positive net inflows, higher fee‑based assets and greater scale in wealth management and expecting gradually improving financing and advisory activity in capital markets (though timing remains sensitive to market conditions). They pointed to Q1 results underpinning this outlook: firm‑wide revenue +29% YoY to $577M, adjusted net income +120% to $57M, adjusted diluted EPS $0.36 (+177%), adjusted pretax net income +128% and a pretax operating margin improvement of 5.7 percentage points. Cost discipline was highlighted with non‑compensation expenses down $4M to $142M (25% of revenue vs 33% a year ago) even as the compensation ratio was elevated at 62% (59.5% ex‑PSU charge). Business‑specific metrics supporting the plan include wealth revenue $305M (+26%), average book per adviser +37% to $428M, record client assets $160B (+28%); capital markets revenue $261M (+30%), adjusted pretax income $37M and margin 14.3% (+11.5pp), investment banking +40% and advisory +123% (U.S. advisory $57M, +162%). The company closed the quarter with $1.2B cash, $817M working capital, approved a $0.10 quarterly dividend, and noted employee ownership at 14.31% (15.33% as‑converted), all of which support liquidity and strategic optionality.Canaccord Genuity Financial Statement Overview
Summary
Income Statement
42
Neutral
Balance Sheet
48
Neutral
Cash Flow
55
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.36B | 2.24B | 1.77B | 1.51B | 2.05B | 2.01B |
| Gross Profit | 1.82B | 1.98B | 634.09M | 477.44M | 694.99M | 657.64M |
| EBITDA | 253.72M | 199.54M | 260.45M | 88.08M | 453.35M | 449.46M |
| Net Income | -93.41M | -132.87M | -17.50M | -90.10M | 246.31M | 263.79M |
Balance Sheet | ||||||
| Total Assets | 7.21B | 7.78B | 6.72B | 6.30B | 7.25B | 7.63B |
| Cash, Cash Equivalents and Short-Term Investments | 1.66B | 2.59B | 1.90B | 1.72B | 2.84B | 2.92B |
| Total Debt | 1.40B | 816.43M | 770.83M | 433.86M | 285.09M | 348.83M |
| Total Liabilities | 5.99B | 6.57B | 5.36B | 4.90B | 5.83B | 6.52B |
| Stockholders Equity | 781.05M | 780.61M | 959.79M | 1.05B | 1.18B | 1.11B |
Cash Flow | ||||||
| Free Cash Flow | 190.20M | 872.67M | 396.40M | -612.77M | 248.59M | 1.09B |
| Operating Cash Flow | 204.52M | 881.35M | 475.61M | -584.42M | 263.25M | 1.10B |
| Investing Cash Flow | -196.02M | 100.90M | -151.12M | -288.11M | -202.00M | -86.13M |
| Financing Cash Flow | -103.23M | -138.99M | -9.82M | 71.22M | -142.86M | -117.64M |
Canaccord Genuity Technical Analysis
Positive
14.53
Price Trends
14.58
Positive
13.60
Positive
12.65
Positive
Market Momentum
-0.02
Negative
56.03
Neutral
67.45
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:CF, the sentiment is Positive. The current price of 14.53 is above the 20-day moving average (MA) of 14.45, below the 50-day MA of 14.58, and above the 200-day MA of 12.65, indicating a bullish trend. The MACD of -0.02 indicates Negative momentum. The RSI at 56.03 is Neutral, neither overbought nor oversold. The STOCH value of 67.45 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:CF.
Canaccord Genuity Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | C$178.36M | 40.33 | 5.77% | ― | -10.69% | 23.60% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
55 Neutral | C$1.48B | -14.18 | -17.40% | 2.42% | 32.06% | -63.54% | |
46 Neutral | C$89.08M | -22.43 | -5.04% | ― | -63.35% | -113.24% | |
42 Neutral | C$2.22M | -1.16 | 79.27% | ― | ― | 41.89% | |
42 Neutral | C$2.25M | -1.01 | -92.13% | ― | -16.24% | 17.37% |
* Financial Sector Average
TSE:CF
Canaccord Genuity
14.67
4.77
48.18%
TSE:CXI
Currency Exchange International
29.26
6.84
30.51%
TSE:RICH
Raffles Financial Group
2.85
0.00
0.00%
TSE:PNP
Pinetree Capital
9.75
-4.27
-30.46%
TSE:DELX
DelphX Capital Markets
0.01
-0.05
-83.33%
TSE:FRNT
FRNT Financial, Inc.
0.06
-0.31
-83.78%
Canaccord Genuity Corporate Events
Business Operations and StrategyShareholder Meetings
Canaccord Genuity Shareholders Back Board, Auditor and Pay Approach at AGM
Positive
Aug 7, 2026
Canaccord Genuity Group Inc., a TSX-listed independent financial services firm, operates in wealth management and capital markets, providing investment solutions, brokerage and investment banking services to clients across North America, Europe, A...
Business Operations and StrategyDividendsFinancial Disclosures
Canaccord Genuity posts surging profit and record client assets in Q1 fiscal 2027
Positive
Aug 6, 2026
Canaccord Genuity Group Inc. reported a strong start to fiscal 2027, with first-quarter adjusted revenue rising 28.8% to $577.4 million and net income before taxes more than doubling, driven by improved operating leverage and robust performance in...
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.