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CI FINANCIAL CORP (CIX.CA) Stock Fundamental Analysis

TSX:CIX - Toronto Stock Exchange - CA1254911003 - Common Stock - Currency: CAD

31.38  +0.07 (+0.22%)

Fundamental Rating

4

Taking everything into account, CIX scores 4 out of 10 in our fundamental rating. CIX was compared to 82 industry peers in the Capital Markets industry. While CIX is still in line with the averages on profitability rating, there are concerns on its financial health. A decent growth rate in combination with a cheap valuation! Better keep an eye on CIX.


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

In the past year CIX was profitable.
CIX had a positive operating cash flow in the past year.
Each year in the past 5 years CIX has been profitable.
In the past 5 years CIX always reported a positive cash flow from operatings.
CIX.CA Yearly Net Income VS EBIT VS OCF VS FCFCIX.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M

1.2 Ratios

With a Return On Assets value of -0.67%, CIX is not doing good in the industry: 67.57% of the companies in the same industry are doing better.
CIX's Return On Equity of -8.59% is on the low side compared to the rest of the industry. CIX is outperformed by 79.73% of its industry peers.
CIX's Return On Invested Capital of 5.75% is amongst the best of the industry. CIX outperforms 81.08% of its industry peers.
The Average Return On Invested Capital over the past 3 years for CIX is in line with the industry average of 9.06%.
Industry RankSector Rank
ROA -0.67%
ROE -8.59%
ROIC 5.75%
ROA(3y)2.62%
ROA(5y)5.54%
ROE(3y)14.96%
ROE(5y)22.2%
ROIC(3y)8.46%
ROIC(5y)11.06%
CIX.CA Yearly ROA, ROE, ROICCIX.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 10 20 30 40

1.3 Margins

CIX's Profit Margin has declined in the last couple of years.
CIX has a Operating Margin of 14.36%. This is comparable to the rest of the industry: CIX outperforms 40.54% of its industry peers.
In the last couple of years the Operating Margin of CIX has declined.
With an excellent Gross Margin value of 82.54%, CIX belongs to the best of the industry, outperforming 81.08% of the companies in the same industry.
In the last couple of years the Gross Margin of CIX has declined.
Industry RankSector Rank
OM 14.36%
PM (TTM) N/A
GM 82.54%
OM growth 3Y-19.72%
OM growth 5Y-13.26%
PM growth 3Y-79.82%
PM growth 5Y-63.02%
GM growth 3Y-1.7%
GM growth 5Y-2.2%
CIX.CA Yearly Profit, Operating, Gross MarginsCIX.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 20 40 60 80

2

2. Health

2.1 Basic Checks

The number of shares outstanding for CIX has been reduced compared to 1 year ago.
Compared to 5 years ago, CIX has less shares outstanding
CIX has a better debt/assets ratio than last year.
CIX.CA Yearly Shares OutstandingCIX.CA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M 200M 250M
CIX.CA Yearly Total Debt VS Total AssetsCIX.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B 8B

2.2 Solvency

Based on the Altman-Z score of 0.19, we must say that CIX is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of CIX (0.19) is worse than 82.43% of its industry peers.
The Debt to FCF ratio of CIX is 9.93, which is on the high side as it means it would take CIX, 9.93 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of CIX (9.93) is better than 70.27% of its industry peers.
A Debt/Equity ratio of 4.60 is on the high side and indicates that CIX has dependencies on debt financing.
CIX has a worse Debt to Equity ratio (4.60) than 63.51% of its industry peers.
Industry RankSector Rank
Debt/Equity 4.6
Debt/FCF 9.93
Altman-Z 0.19
ROIC/WACCN/A
WACCN/A
CIX.CA Yearly LT Debt VS Equity VS FCFCIX.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B 4B

2.3 Liquidity

CIX has a Current Ratio of 0.32. This is a bad value and indicates that CIX is not financially healthy enough and could expect problems in meeting its short term obligations.
CIX's Current ratio of 0.32 is on the low side compared to the rest of the industry. CIX is outperformed by 87.84% of its industry peers.
A Quick Ratio of 0.32 indicates that CIX may have some problems paying its short term obligations.
With a Quick ratio value of 0.32, CIX is not doing good in the industry: 87.84% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 0.32
Quick Ratio 0.32
CIX.CA Yearly Current Assets VS Current LiabilitesCIX.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B 4B 5B

5

3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 10.97% over the past year.
Measured over the past 5 years, CIX shows a small growth in Earnings Per Share. The EPS has been growing by 5.48% on average per year.
The Revenue has grown by 9.85% in the past year. This is quite good.
Measured over the past years, CIX shows a small growth in Revenue. The Revenue has been growing by 3.27% on average per year.
EPS 1Y (TTM)10.97%
EPS 3Y8.24%
EPS 5Y5.48%
EPS Q2Q%19.75%
Revenue 1Y (TTM)9.85%
Revenue growth 3Y8.64%
Revenue growth 5Y3.27%
Sales Q2Q%27.4%

3.2 Future

Based on estimates for the next years, CIX will show a quite strong growth in Earnings Per Share. The EPS will grow by 9.79% on average per year.
The Revenue is expected to grow by 7.01% on average over the next years.
EPS Next Y19.82%
EPS Next 2Y15.98%
EPS Next 3Y13.44%
EPS Next 5Y9.79%
Revenue Next Year21.14%
Revenue Next 2Y10.95%
Revenue Next 3Y7.9%
Revenue Next 5Y7.01%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
CIX.CA Yearly Revenue VS EstimatesCIX.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 1B 2B 3B 4B
CIX.CA Yearly EPS VS EstimatesCIX.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 2 4 6

7

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 8.86, which indicates a very decent valuation of CIX.
Compared to the rest of the industry, the Price/Earnings ratio of CIX is on the same level as its industry peers.
CIX's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 30.43.
A Price/Forward Earnings ratio of 7.48 indicates a rather cheap valuation of CIX.
Based on the Price/Forward Earnings ratio, CIX is valued a bit cheaper than the industry average as 64.86% of the companies are valued more expensively.
CIX's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 23.78.
Industry RankSector Rank
PE 8.86
Fwd PE 7.48
CIX.CA Price Earnings VS Forward Price EarningsCIX.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of CIX is on the same level as its industry peers.
Based on the Price/Free Cash Flow ratio, CIX is valued cheaply inside the industry as 86.49% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 11.01
EV/EBITDA 13.46
CIX.CA Per share dataCIX.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 -20 -40

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
CIX's earnings are expected to grow with 13.44% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.45
PEG (5Y)1.62
EPS Next 2Y15.98%
EPS Next 3Y13.44%

3

5. Dividend

5.1 Amount

CIX has a Yearly Dividend Yield of 2.56%.
CIX's Dividend Yield is a higher than the industry average which is at 3.19.
CIX's Dividend Yield is comparable with the S&P500 average which is at 2.30.
Industry RankSector Rank
Dividend Yield 2.56%

5.2 History

The dividend of CIX decreases each year by -8.32%.
CIX has paid a dividend for at least 10 years, which is a reliable track record.
The dividend of CIX decreased recently.
Dividend Growth(5Y)-8.32%
Div Incr Years1
Div Non Decr Years1
CIX.CA Yearly Dividends per shareCIX.CA Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1

5.3 Sustainability

CIX has negative earnings and hence a negative payout ratio. The dividend may be in danger.
DP-173.55%
EPS Next 2Y15.98%
EPS Next 3Y13.44%
CIX.CA Yearly Income VS Free CF VS DividendCIX.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M

CI FINANCIAL CORP

TSX:CIX (2/14/2025, 7:00:00 PM)

31.38

+0.07 (+0.22%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)11-14 2024-11-14/bmo
Earnings (Next)02-21 2025-02-21/amc
Inst Owners17.41%
Inst Owner ChangeN/A
Ins Owners9.43%
Ins Owner ChangeN/A
Market Cap4.53B
Analysts48.33
Price Target31.37 (-0.03%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.56%
Yearly Dividend0.74
Dividend Growth(5Y)-8.32%
DP-173.55%
Div Incr Years1
Div Non Decr Years1
Ex-Date03-31 2025-03-31 (0.2)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)6.05%
Min EPS beat(2)3.94%
Max EPS beat(2)8.15%
EPS beat(4)3
Avg EPS beat(4)2.96%
Min EPS beat(4)-0.57%
Max EPS beat(4)8.15%
EPS beat(8)5
Avg EPS beat(8)2.38%
EPS beat(12)7
Avg EPS beat(12)1.32%
EPS beat(16)9
Avg EPS beat(16)2.07%
Revenue beat(2)2
Avg Revenue beat(2)19.4%
Min Revenue beat(2)4.06%
Max Revenue beat(2)34.74%
Revenue beat(4)3
Avg Revenue beat(4)8.96%
Min Revenue beat(4)-8.7%
Max Revenue beat(4)34.74%
Revenue beat(8)6
Avg Revenue beat(8)5.47%
Revenue beat(12)7
Avg Revenue beat(12)-0.01%
Revenue beat(16)9
Avg Revenue beat(16)-0.69%
PT rev (1m)0%
PT rev (3m)55.98%
EPS NQ rev (1m)0%
EPS NQ rev (3m)4.18%
EPS NY rev (1m)0.08%
EPS NY rev (3m)2.94%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)6%
Revenue NY rev (1m)0%
Revenue NY rev (3m)3.68%
Valuation
Industry RankSector Rank
PE 8.86
Fwd PE 7.48
P/S 1.6
P/FCF 11.01
P/OCF 8.65
P/B 5.62
P/tB N/A
EV/EBITDA 13.46
EPS(TTM)3.54
EY11.28%
EPS(NY)4.2
Fwd EY13.37%
FCF(TTM)2.85
FCFY9.08%
OCF(TTM)3.63
OCFY11.57%
SpS19.64
BVpS5.58
TBVpS-48.47
PEG (NY)0.45
PEG (5Y)1.62
Profitability
Industry RankSector Rank
ROA -0.67%
ROE -8.59%
ROCE 7.99%
ROIC 5.75%
ROICexc 5.96%
ROICexgc N/A
OM 14.36%
PM (TTM) N/A
GM 82.54%
FCFM 14.5%
ROA(3y)2.62%
ROA(5y)5.54%
ROE(3y)14.96%
ROE(5y)22.2%
ROIC(3y)8.46%
ROIC(5y)11.06%
ROICexc(3y)8.84%
ROICexc(5y)11.99%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)11.75%
ROCE(5y)15.37%
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3Y-18.61%
ROICexc growth 5Y-17.51%
OM growth 3Y-19.72%
OM growth 5Y-13.26%
PM growth 3Y-79.82%
PM growth 5Y-63.02%
GM growth 3Y-1.7%
GM growth 5Y-2.2%
F-Score4
Asset Turnover0.27
Health
Industry RankSector Rank
Debt/Equity 4.6
Debt/FCF 9.93
Debt/EBITDA 5.94
Cap/Depr 51.85%
Cap/Sales 3.97%
Interest Coverage 2.23
Cash Conversion 83.89%
Profit Quality N/A
Current Ratio 0.32
Quick Ratio 0.32
Altman-Z 0.19
F-Score4
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)22.06%
Cap/Depr(5y)36.83%
Cap/Sales(3y)1.36%
Cap/Sales(5y)1.26%
Profit Quality(3y)2748.06%
Profit Quality(5y)1690.49%
High Growth Momentum
Growth
EPS 1Y (TTM)10.97%
EPS 3Y8.24%
EPS 5Y5.48%
EPS Q2Q%19.75%
EPS Next Y19.82%
EPS Next 2Y15.98%
EPS Next 3Y13.44%
EPS Next 5Y9.79%
Revenue 1Y (TTM)9.85%
Revenue growth 3Y8.64%
Revenue growth 5Y3.27%
Sales Q2Q%27.4%
Revenue Next Year21.14%
Revenue Next 2Y10.95%
Revenue Next 3Y7.9%
Revenue Next 5Y7.01%
EBIT growth 1Y-22.64%
EBIT growth 3Y-12.78%
EBIT growth 5Y-10.42%
EBIT Next Year53.44%
EBIT Next 3Y15.66%
EBIT Next 5Y16.16%
FCF growth 1Y-26.61%
FCF growth 3Y-8.09%
FCF growth 5Y-7.63%
OCF growth 1Y-10.65%
OCF growth 3Y-6.05%
OCF growth 5Y-5.87%