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Financial 15 Split Corp
(TSX:FTN)
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Rating:65Neutral
Price Target:
C$13.00
▲(9.98% Upside)
Action:Reiterated
Date:08/19/26
The score is driven primarily by very attractive valuation (low P/E and high dividend yield). This is tempered by mixed financial quality—strong recent profitability and improving leverage, but highly volatile results and inconsistent operating/free cash flow—and a largely neutral technical setup with some near-term weakness.
Positive Factors
Large-Cap Financial Portfolio
Exposure to established Canadian financial institutions gives the vehicle access to mature businesses with recurring financial-sector earnings. The portfolio structure can provide diversified participation across major companies rather than relying on one operating business.
Negative Factors
Inconsistent Cash Generation
Persistent operating-cash-flow deficits mean reported profits have not consistently translated into cash available for distributions or portfolio support. This weakens earnings quality and creates longer-term uncertainty around the sustainability of shareholder payments.
Read all positive and negative factors
Positive Factors
Negative Factors
Large-Cap Financial Portfolio
Exposure to established Canadian financial institutions gives the vehicle access to mature businesses with recurring financial-sector earnings. The portfolio structure can provide diversified participation across major companies rather than relying on one operating business.
Read all positive factors
Financial 15 Split Corp (FTN) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$895.49M
Dividend Yield11.85%
Average Volume (3M)200.30K
Price to Earnings (P/E)2.1
Beta (1Y)1.09
Revenue Growth92.53%
EPS Growth113.60%
CountryCA
EmployeesN/A
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)5.50
Shares Outstanding76,603,290
10 Day Avg. Volume217,181
30 Day Avg. Volume200,298
Financial Highlights & Ratios
PEG Ratio-0.06
Price to Book (P/B)0.77
Price to Sales (P/S)2.06
P/FCF Ratio22.42
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
Financial 15 Split Corp Business Overview & Revenue Model
Company Description
Financial 15 Split Corp. is a closed-end equity mutual fund, initially established by Quadravest Inc., with Quadravest Capital Management Inc. serving as its investment manager. The fund's strategy involves allocating capital to publicly traded eq...
How the Company Makes Money
Financial 15 Split Corp. makes money primarily through investment income and portfolio gains generated by its underlying holdings, and then allocates cash flows according to the split-share structure. Key sources include: (1) Dividends received fr...
Financial 15 Split Corp Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
63
Positive
Cash Flow
34
Negative
| Breakdown | TTM | Nov 2025 | Nov 2024 | Nov 2023 | Nov 2022 | Nov 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 472.90M | 293.76M | 372.13M | -1.65M | 128.77K | 121.26M |
| Gross Profit | 461.66M | 283.65M | 372.13M | -1.65M | -4.85M | 115.67M |
| EBITDA | 460.38M | 280.45M | 368.88M | 0.00 | 0.00 | 115.01M |
| Net Income | 412.11M | 231.70M | 368.88M | -3.60M | -5.95M | 97.98M |
Balance Sheet | ||||||
| Total Assets | 1.60B | 1.50B | 1.25B | 813.07M | 670.92M | 508.99M |
| Cash, Cash Equivalents and Short-Term Investments | 89.59M | 143.21M | 159.86M | 805.83M | 129.12M | 28.12M |
| Total Debt | 708.95M | 699.52M | 595.08M | 473.58M | 346.49M | 236.22M |
| Total Liabilities | 727.26M | 715.80M | 609.20M | 503.67M | 361.02M | 241.55M |
| Stockholders Equity | 872.42M | 788.82M | 645.09M | 309.39M | 309.90M | 267.44M |
Cash Flow | ||||||
| Free Cash Flow | 25.34M | 27.01M | -66.14M | -127.75M | -59.68M | -34.41M |
| Operating Cash Flow | 25.34M | 27.01M | -66.14M | -127.75M | -59.68M | -34.41M |
| Investing Cash Flow | 50.15M | -11.58M | -92.14M | -148.57M | -70.33M | -37.20M |
| Financing Cash Flow | -89.86M | -30.82M | 91.50M | 132.74M | 160.75M | -178.38M |
Financial 15 Split Corp Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | C$755.48M | 2.18 | 47.52% | 2.40% | 33.16% | ― | |
75 Outperform | C$63.64M | 3.56 | 27.77% | 8.77% | 233.57% | 28.65% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | C$895.49M | 2.13 | 49.62% | 10.22% | 92.53% | 113.60% | |
62 Neutral | C$8.05M | 2.35 | 47.78% | 6.59% | -3.86% | 84.88% | |
56 Neutral | C$113.18M | 5.49 | 17.87% | 14.46% | 95.81% | 37.32% | |
54 Neutral | C$28.33M | 1.49 | 59.22% | 8.54% | 288.09% | 116.67% |
* Financial Sector Average
TSE:FTN
Financial 15 Split Corp
11.69
4.71
67.41%
TSE:QRC
Queen's Road Capital Investment
14.00
6.47
85.82%
TSE:PDV
Prime Dividend Cl A
15.93
7.64
92.26%
TSE:RS
Real Estate & E-Commerce Split Corp. Class A
9.70
1.18
13.86%
TSE:BNK
Big Banc Split
14.61
4.06
38.54%
TSE:PWI
Sustainable Power & Infrastructure Split
11.80
2.93
33.05%
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.