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Canoe EIT Income Fund
(TSX:EIT.UN)
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Rating:74Outperform
Price Target:
C$20.00
▲(12.04% Upside)
Action:Upgraded
Date:08/06/26
The score is driven primarily by solid financial positioning but tempered by weak cash conversion versus reported earnings. Technicals add support with a clear uptrend and positive momentum, while valuation contributes positively due to a moderate P/E and a high dividend yield.
Positive Factors
Conservative balance sheet
Low leverage (debt-to-equity ~0.10 in 2024) and rising equity/assets give the fund flexibility to maintain distributions and absorb market drawdowns. A conservatively levered balance sheet reduces refinancing risk and preserves capacity to deploy capital or increase hedging over the medium term.
Negative Factors
Weak cash conversion
Despite reported profitability, cash generation has been historically weak and volatile, with free cash flow declining materially in 2025. Poor cash conversion limits genuinely distributable cash, increasing dependence on realized gains or return of capital and weakening payout sustainability.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low leverage (debt-to-equity ~0.10 in 2024) and rising equity/assets give the fund flexibility to maintain distributions and absorb market drawdowns. A conservatively levered balance sheet reduces refinancing risk and preserves capacity to deploy capital or increase hedging over the medium term.
Read all positive factors
Canoe EIT Income Fund (EIT.UN) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$3.40B
Dividend Yield6.8%
Average Volume (3M)114.85K
Price to Earnings (P/E)5.9
Beta (1Y)0.52
Revenue Growth48.02%
EPS Growth-4.25%
CountryCA
Employees108
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)3.01
Shares Outstanding192,676,270
10 Day Avg. Volume126,040
30 Day Avg. Volume114,852
Financial Highlights & Ratios
PEG Ratio-0.18
Price to Book (P/B)0.95
Price to Sales (P/S)7.62
P/FCF Ratio297.00
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)N/A
Revenue Forecast (FY)N/A
Canoe EIT Income Fund Business Overview & Revenue Model
Company Description
The Canoe EIT Income Fund is a closed-ended balanced fund, primarily administered by Canoe Financial LP, with co-management responsibilities also held by Haber Trilix Advisors, LP. Its investment mandate spans the public equity and fixed income ma...
How the Company Makes Money
Canoe EIT Income Fund does not generate operating revenue like a traditional company; instead, it earns investment income and returns from its portfolio, and its unitholders receive distributions funded from those sources. The fund’s economic infl...
Canoe EIT Income Fund Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
34
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 577.61M | 379.15M | 360.02M | 148.57M | 215.74M | 287.69M |
| Gross Profit | 536.90M | 342.22M | 325.82M | 148.57M | 188.45M | 267.18M |
| EBITDA | 584.49M | 380.26M | 652.65M | 141.10M | 268.16M | 587.37M |
| Net Income | 565.85M | 367.14M | 637.59M | 124.73M | 255.37M | 575.86M |
Balance Sheet | ||||||
| Total Assets | 3.98B | 3.32B | 3.09B | 2.66B | 2.51B | 2.24B |
| Cash, Cash Equivalents and Short-Term Investments | 25.21M | 76.77M | 109.97M | 14.77M | 98.23M | 145.48M |
| Total Debt | 559.26M | 256.12M | 269.83M | 95.99M | 98.09M | 91.64M |
| Total Liabilities | 584.38M | 279.15M | 292.17M | 338.30M | 337.22M | 327.44M |
| Stockholders Equity | 3.40B | 3.04B | 2.80B | 2.32B | 2.17B | 1.91B |
Cash Flow | ||||||
| Free Cash Flow | 8.77M | 9.72M | 20.14M | -112.77M | -50.13M | -12.09M |
| Operating Cash Flow | 8.77M | 9.72M | 20.14M | -112.77M | -50.13M | -12.09M |
| Investing Cash Flow | -164.26M | 89.01M | 294.98M | -138.50M | -73.46M | -21.14M |
| Financing Cash Flow | 219.24M | -136.59M | -211.83M | 27.59M | 8.68M | 115.42M |
Canoe EIT Income Fund Technical Analysis
Neutral
17.85
Price Trends
17.56
Positive
17.18
Positive
16.46
Positive
Market Momentum
0.03
Positive
50.10
Neutral
28.43
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:EIT.UN, the sentiment is Neutral. The current price of 17.85 is above the 20-day moving average (MA) of 17.69, above the 50-day MA of 17.56, and above the 200-day MA of 16.46, indicating a neutral trend. The MACD of 0.03 indicates Positive momentum. The RSI at 50.10 is Neutral, neither overbought nor oversold. The STOCH value of 28.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:EIT.UN.
Canoe EIT Income Fund Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | C$3.40B | 5.86 | 17.58% | 6.80% | 48.02% | -4.25% | |
71 Outperform | C$1.07B | 6.35 | 14.64% | 6.20% | -5.14% | 25.79% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | C$104.98M | 5.61 | 21.53% | 9.15% | 104.68% | -24.74% | |
46 Neutral | C$88.99M | -21.55 | -5.04% | ― | -63.35% | -113.24% |
* Financial Sector Average
TSE:EIT.UN
Canoe EIT Income Fund
17.65
3.26
22.70%
TSE:AD.UN
Alaris Royalty
23.53
5.53
30.72%
TSE:BGI.UN
Brookfield Global Infrastructure Securities Income Fund
6.56
0.63
10.59%
TSE:PGI.UN
PIMCO Global Income Opportunities Fund Trust Units
7.01
0.25
3.64%
TSE:PNP
Pinetree Capital
9.48
-3.52
-27.08%
TSE:WI
The Western Investment Company of Canada Ltd
1.07
0.49
84.48%
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.