Fairfax India SV USF (FIH.U) AI Stock Analysis

Fairfax India SV USF

(TSX:FIH.U)

Select Model

Rating:59Neutral

Action:reiterated

Date:11/01/26

The score is primarily constrained by weak recent cash conversion (negative operating/free cash flow) and high volatility in results/revenue, despite a conservatively levered balance sheet and periods of strong profitability. Valuation is supportive given the modest P/E, while technicals could not be assessed due to missing indicator data.

Positive Factors

Conservative leverageLow and stable leverage gives Fairfax India financial flexibility to withstand weaker investment periods without excessive debt service pressure. The substantial equity base also supports continued capital allocation and reduces the risk that balance-sheet constraints will limit long-term investment opportunities.

Negative Factors

Weak cash conversionPersistent negative operating and free cash flow shows that reported profitability has not consistently translated into cash available for reinvestment or distributions. If this pattern continues, Fairfax India may have less internally generated funding and greater dependence on asset realizations or other financing sources.

Fairfax India SV USF Business Overview & Revenue Model

Company Description

Fairfax India Holdings Corporation functions as an investment holding entity, dedicating its capital deployment to the Indian market. Its portfolio encompasses both public and private equity stakes, alongside various debt instruments. The company str...

Fairfax India SV USF Financial Statement Overview

Summary

Mixed fundamentals: profitability has been strong in several annual periods and leverage is low (solid balance sheet flexibility), but recent cash generation is weak with negative operating and free cash flow in 2024, 2025, and TTM. Results are also volatile (including a 2024 net loss and highly inconsistent revenue trends), reducing earnings quality and predictability.

Income Statement

58Neutral

Balance Sheet

74Positive

Cash Flow

34Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	-364.00M	111.14M	59.65M	490.09M	234.97M	567.57M
Gross Profit	-400.31M	68.24M	34.65M	465.09M	209.97M	542.26M
EBITDA	336.73M	568.73M	26.21M	451.90M	195.97M	533.53M
Net Income	200.19M	417.71M	-41.17M	371.77M	191.44M	494.51M
Balance Sheet
Total Assets	3.76B	4.04B	3.63B	3.82B	3.37B	3.58B
Cash, Cash Equivalents and Short-Term Investments	36.20M	8.10M	59.32M	174.62M	147.45M	30.38M
Total Debt	498.53M	497.96M	498.35M	497.83M	497.31M	496.79M
Total Liabilities	820.72M	813.46M	673.52M	736.76M	608.80M	681.91M
Stockholders Equity	2.78B	3.07B	2.83B	2.96B	2.64B	2.77B
Cash Flow
Free Cash Flow	-32.07M	-31.66M	-103.44M	66.61M	152.34M	61.09M
Operating Cash Flow	-32.07M	-31.66M	-103.44M	66.61M	152.34M	61.09M
Investing Cash Flow	55.20M	-9.18M	0	0	0	0
Financing Cash Flow	-11.60M	-10.62M	-8.42M	-37.25M	-35.58M	-51.30M

Fairfax India SV USF Peers Comparison

Overall Rating

UnderperformOutperform

Sector (68)

Financial Indicators

TSE:FIH.U against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TSE:SEC	86Outperform	CAD 1.07B	1.73	28.64%	―	-18.31%	265.83%
TSE:CVG	81Outperform	CAD 1.15B	8.32	11.06%	1.13%	-93.61%	24.49%
TSE:URB	80Outperform	CAD 346.16M	3.41	20.19%	1.56%	-115.29%	38.46%
TSE:AGF.B	73Outperform	CAD 931.71M	6.69	11.46%	3.62%	12.19%	26.48%
TSE:URB.A	69Neutral	CAD 346.16M	3.41	20.19%	1.71%	-115.29%	38.46%
Sector *	68Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
TSE:FIH.U	59Neutral	―	11.59	7.14%	―	-112.20%	264.37%

* Financial Sector Average

Performance Comparison

TSE:FIH.U and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TSE:URB.A	Urbana Corp CL A	8.18	0.41	5.24%
TSE:AGF.B	Agf Management B Nv	14.65	1.00	7.31%
TSE:CVG	Clairvest Group Inc	85.80	15.69	22.37%
TSE:SEC	Senvest Capital	442.20	57.20	14.86%
TSE:URB	Urbana Corporation	8.95	1.06	13.48%

Fairfax India SV USF Corporate Events

Business Operations and StrategyM&A Transactions

Fairfax Chosen as Strategic Buyer for Majority Stake in IDBI Bank

Positive

Oct 14, 2026

Fairfax has been selected by the Government of India as the strategic buyer for a 60.72% stake in IDBI Bank Limited, agreeing to pay INR 81 per share, or about INR 528.78 billion, a 23% premium to book value. The deal, valued at roughly US$5.6 billio...

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: Nov 01, 2026

Fairfax India SV USF AI Stock Analysis