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M Split Corp. 14 Cap
(TSX:XMF.A)
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Rating:51Neutral
Price Target:
C$1.50
▲(28.21% Upside)
Action:Reiterated
Date:09/23/26
The score is held back mainly by elevated financial risk from extremely high leverage and a thin/unstable equity base, plus a sharp 2025 decline in free cash flow. Technicals are mixed-to-neutral with mild positive momentum but some near-term weakness versus short moving averages. Valuation is a relative positive due to the very low P/E.
Positive Factors
Structured portfolio investment model
The fund structure gives investors access to a managed portfolio while separating preferred and residual capital-share exposures. This differentiated financing model can support flexible risk and return profiles and allows the corporation to generate value from dividends, realized gains, and portfolio appreciation.
Negative Factors
Extremely high leverage
Debt is exceptionally large relative to the equity base, leaving limited capital protection against declines in portfolio value. This leverage increases financial risk, places greater pressure on investment income and asset realizations, and can constrain the corporation’s ability to absorb weaker results over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Structured portfolio investment model
The fund structure gives investors access to a managed portfolio while separating preferred and residual capital-share exposures. This differentiated financing model can support flexible risk and return profiles and allows the corporation to generate value from dividends, realized gains, and portfolio appreciation.
Read all positive factors
M Split Corp. 14 Cap (XMF.A) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$3.75M
Dividend Yield28.18%
Average Volume (3M)3.80K
Price to Earnings (P/E)3.3
Beta (1Y)-0.65
Revenue Growth-83.91%
EPS GrowthN/A
CountryCA
EmployeesN/A
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)0.50
Shares Outstanding2,275,548
10 Day Avg. Volume1,638
30 Day Avg. Volume3,802
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)2.47
Price to Sales (P/S)0.42
P/FCF Ratio6.30
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
M Split Corp. 14 Cap Business Overview & Revenue Model
Company Description
M Split Corp. is a closed-end equity mutual fund managed by Quadravest Capital Management Inc. Established in Canada on February 12, 2007, this fund focuses its investments exclusively within the Canadian public equity markets, specifically target...
How the Company Makes Money
M Split Corp. 14 Cap primarily generates economic value from (1) investment income and (2) portfolio capital gains, and uses this to support distributions/obligations associated with its share structure and to cover expenses. Key components includ...
M Split Corp. 14 Cap Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
24
Negative
Cash Flow
41
Neutral
| Breakdown | TTM | Nov 2025 | Nov 2024 | Nov 2023 | Nov 2022 | Nov 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 963.92K | 4.34M | 1.70M | 1.88M | 1.28M | 810.41K |
| Gross Profit | 874.66K | 4.25M | 1.57M | 1.88M | 1.26M | 894.88K |
| EBITDA | 1.99M | 1.16M | 8.99M | 1.64M | 853.46K | 853.46K |
| Net Income | 1.15M | 431.43K | 304.30K | 1.61M | 1.09M | 598.35K |
Balance Sheet | ||||||
| Total Assets | 14.43M | 14.04M | 23.25M | 15.14M | 14.51M | 14.13M |
| Cash, Cash Equivalents and Short-Term Investments | 14.31M | 13.92M | 23.08M | 14.95M | 14.33M | 13.93M |
| Total Debt | 13.15M | 13.15M | 22.76M | 15.00M | 14.24M | 14.01M |
| Total Liabilities | 13.28M | 13.30M | 22.95M | 71.12K | 71.12K | 71.12K |
| Stockholders Equity | 1.15M | 735.68K | 304.30K | 0.00 | 14.44M | 14.06M |
Cash Flow | ||||||
| Free Cash Flow | 248.67K | 288.81K | 3.54M | 488.68K | 1.77M | 999.27K |
| Operating Cash Flow | 248.67K | 288.81K | 3.54M | 488.68K | 1.77M | 999.27K |
| Investing Cash Flow | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financing Cash Flow | -819.55K | -10.40M | -853.46K | -853.46K | -853.46K | -853.46K |
M Split Corp. 14 Cap Technical Analysis
Positive
1.17
Price Trends
1.63
Positive
1.63
Positive
1.30
Positive
Market Momentum
-0.01
Positive
49.38
Neutral
8.59
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:XMF.A, the sentiment is Positive. The current price of 1.17 is below the 20-day moving average (MA) of 1.83, below the 50-day MA of 1.63, and below the 200-day MA of 1.30, indicating a neutral trend. The MACD of -0.01 indicates Positive momentum. The RSI at 49.38 is Neutral, neither overbought nor oversold. The STOCH value of 8.59 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:XMF.A.
M Split Corp. 14 Cap Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | C$54.34M | 3.23 | 27.77% | 10.80% | 233.57% | 28.65% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
63 Neutral | C$26.26M | 1.38 | 59.22% | 8.67% | 288.09% | 138.83% | |
56 Neutral | C$107.80M | 4.74 | 17.87% | 18.64% | 95.81% | 37.32% | |
51 Neutral | C$3.75M | 3.30 | 122.00% | 28.18% | -83.91% | ― |
* Financial Sector Average
TSE:XMF.A
M Split Corp. 14 Cap
1.65
1.10
200.00%
TSE:RS
Real Estate & E-Commerce Split Corp. Class A
8.37
-0.13
-1.58%
TSE:BNK
Big Banc Split
13.61
2.98
28.05%
TSE:PWI
Sustainable Power & Infrastructure Split
10.69
1.40
15.11%
M Split Corp. 14 Cap Corporate Events
Dividends
M Split Corp. Declares Monthly Dividends on Class I and II Preferred Shares
Positive
Sep 18, 2026
M Split Corp. has declared a monthly dividend of $0.03125 per share, or $0.375 annually, for both its Class I and Class II Preferred Shares, continuing its income distribution strategy for investors. The Class I Preferred dividends are paid at an ...
Dividends
M Split Corp. Declares Monthly Dividends on Preferred Shares
Positive
Aug 19, 2026
M Split Corp., which invests in Manulife Financial Corporation common shares to deliver structured income exposure to the life insurance and wealth management sectors, focuses on preferred share offerings designed to provide predictable yields to ...
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.