Want to see TSE:ELF full AI Analyst Report?
Top Page
E-L Financial
(TSX:ELF)
Select Model
Select Model
Rating:83Outperform
Price Target:
C$22.50
â–²(27.55% Upside)
Action:Reiterated
Date:08/17/26
The score is driven primarily by attractive valuation (low P/E and high dividend yield) and strong financial strength (high profitability and low leverage). Technicals add support with an established uptrend and positive momentum. The key constraint is cash flow quality, where cash conversion versus earnings has been inconsistent.
Positive Factors
Strong profitability and growth
Very strong recent profitability and robust TTM revenue growth indicate substantial earnings power and operating effectiveness. If these results remain supported by the underlying insurance and investment businesses, ELF should have meaningful capacity to reinvest, strengthen capital, and support shareholder returns over the next several quarters.
Negative Factors
Inconsistent cash conversion
Positive free cash flow is constructive, but operating cash flow covering only a modest portion of reported earnings raises questions about earnings quality and repeatability. Choppy cash generation could limit internally funded growth, distributions, or investment flexibility if the conversion gap persists.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong profitability and growth
Very strong recent profitability and robust TTM revenue growth indicate substantial earnings power and operating effectiveness. If these results remain supported by the underlying insurance and investment businesses, ELF should have meaningful capacity to reinvest, strengthen capital, and support shareholder returns over the next several quarters.
Read all positive factors
E-L Financial (ELF) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$6.68B
Dividend Yield6.26%
Average Volume (3M)32.04K
Price to Earnings (P/E)3.6
Beta (1Y)1.21
Revenue Growth31.77%
EPS Growth48.87%
CountryCA
Employees1,250
SectorFinancial
Sector Strength70
IndustryInsurance - Life
Share Statistics
EPS (TTM)5.38
Shares Outstanding345,496,900
10 Day Avg. Volume41,971
30 Day Avg. Volume32,036
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.61
Price to Sales (P/S)1.93
P/FCF Ratio14.32
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
E-L Financial Business Overview & Revenue Model
Company Description
E-L Financial Corporation Limited operates as an investment and insurance holding company in Canada. It operates in two segments, E-L Corporate and Empire Life. The company owns investments in equities and fixed income securities directly and indi...
How the Company Makes Money
ELF makes money through a combination of (1) insurance underwriting income, (2) investment income and gains on invested assets, and (3) investment/holding-company returns from its controlled or significant holdings.
1) Insurance operations (prope...
E-L Financial Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
88
Very Positive
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.91B | 2.87B | 3.35B | 3.00B | -1.18B | 2.32B |
| Gross Profit | 2.46B | 1.74B | 2.14B | 1.42B | -758.24M | 1.61B |
| EBITDA | 2.43B | 1.70B | 2.12B | 1.31B | -525.74M | 1.54B |
| Net Income | 1.83B | 1.23B | 1.57B | 955.28M | -331.44M | 1.17B |
Balance Sheet | ||||||
| Total Assets | 31.98B | 29.96B | 28.12B | 25.76B | 23.49B | 26.79B |
| Cash, Cash Equivalents and Short-Term Investments | 607.50M | 580.12M | 374.25M | 445.82M | 2.04B | 2.60B |
| Total Debt | 848.86M | 599.57M | 598.87M | 733.37M | 702.91M | 602.16M |
| Total Liabilities | 20.65B | 19.31B | 18.38B | 17.50B | 15.75B | 18.20B |
| Stockholders Equity | 9.77B | 9.07B | 8.47B | 7.11B | 6.71B | 7.32B |
Cash Flow | ||||||
| Free Cash Flow | 523.68M | 387.31M | 459.55M | 736.01M | 380.95M | 344.42M |
| Operating Cash Flow | 523.68M | 387.31M | 459.55M | 736.01M | 397.83M | 348.10M |
| Investing Cash Flow | -203.33M | 295.19M | -76.82M | -386.56M | -437.24M | 202.91M |
| Financing Cash Flow | -102.14M | -491.51M | -450.18M | -211.54M | -293.75M | -319.12M |
E-L Financial Technical Analysis
Positive
17.64
Price Trends
17.94
Positive
17.44
Positive
16.93
Positive
Market Momentum
0.56
Negative
63.03
Neutral
62.66
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ELF, the sentiment is Positive. The current price of 17.64 is below the 20-day moving average (MA) of 18.50, below the 50-day MA of 17.94, and above the 200-day MA of 16.93, indicating a bullish trend. The MACD of 0.56 indicates Negative momentum. The RSI at 63.03 is Neutral, neither overbought nor oversold. The STOCH value of 62.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:ELF.
E-L Financial Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | C$6.68B | 3.59 | 19.97% | 6.26% | 31.77% | 48.87% | |
78 Outperform | C$102.86B | 16.71 | 12.98% | 3.06% | 18.31% | 18.90% | |
78 Outperform | C$18.26B | 16.01 | 12.91% | 3.04% | 19.92% | 20.90% | |
76 Outperform | C$61.60B | 18.68 | 13.89% | 3.39% | -0.59% | 5.22% | |
76 Outperform | C$57.83B | 22.49 | 10.91% | 2.83% | 9.74% | -3.94% | |
74 Outperform | C$80.40B | 18.42 | 15.48% | 2.91% | 4.29% | 21.91% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
TSE:ELF
E-L Financial
19.34
4.23
27.98%
TSE:MFC
Manulife Financial
61.99
17.59
39.63%
TSE:SLF
Sun Life Financial
110.78
26.98
32.20%
TSE:IGM
IGM Financial
79.59
27.00
51.34%
TSE:GWO
Great-West Lifeco
89.89
32.76
57.35%
TSE:POW
Power Corp of Canada
92.42
30.68
49.69%
E-L Financial Corporate Events
Business Operations and StrategyFinancial Disclosures
E-L Financial Delivers Surge in Investment-Driven Earnings and Higher Net Equity Value
Positive
Aug 6, 2026
E-L Financial reported strong results for the quarter ended June 30, 2026, with net equity value per common share rising 7.5% since year-end 2025 and 17.5% year-over-year. Consolidated shareholders’ net income surged to $1,011 million for th...
Dividends
E-L Financial Declares Eligible Dividends Across Preferred and Common Shares
Positive
Aug 6, 2026
E-L Financial Corporation Limited has declared cash dividends on its First Preference Shares Series 1, 2 and 3, its Series A Preference Shares, and its common shares, all with a record date of September 29, 2026, and a payable date of October 16, ...
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.