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EXCHANGE INCOME CORP (EIF-DB-M.CA) Stock Overview

TSX:EIF-DB-M - CA301283AP29

121.77 CAD
-1.73 (-1.4%)
Last: 8/29/2025, 7:00:00 PM
Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to EIF-DB-M. EIF-DB-M was compared to 8 industry peers in the Passenger Airlines industry. Both the profitability and the financial health of EIF-DB-M get a neutral evaluation. Nothing too spectacular is happening here. While showing a medium growth rate, EIF-DB-M is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

EIF-DB-M had positive earnings in the past year.
In the past year EIF-DB-M had a positive cash flow from operations.
EIF-DB-M had positive earnings in each of the past 5 years.
In the past 5 years EIF-DB-M always reported a positive cash flow from operatings.
EIF-DB-M.CA Yearly Net Income VS EBIT VS OCF VS FCFEIF-DB-M.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 2024 0 100M -100M 200M 300M

1.2 Ratios

The Return On Assets of EIF-DB-M (2.75%) is better than 75.00% of its industry peers.
EIF-DB-M has a Return On Equity of 9.07%. This is in the better half of the industry: EIF-DB-M outperforms 75.00% of its industry peers.
EIF-DB-M's Return On Invested Capital of 5.96% is fine compared to the rest of the industry. EIF-DB-M outperforms 62.50% of its industry peers.
The Average Return On Invested Capital over the past 3 years for EIF-DB-M is in line with the industry average of 5.44%.
Industry RankSector Rank
ROA 2.75%
ROE 9.07%
ROIC 5.96%
ROA(3y)2.91%
ROA(5y)2.52%
ROE(3y)9.73%
ROE(5y)8.37%
ROIC(3y)5.98%
ROIC(5y)5.34%
EIF-DB-M.CA Yearly ROA, ROE, ROICEIF-DB-M.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8 10

1.3 Margins

Looking at the Profit Margin, with a value of 4.71%, EIF-DB-M is in the better half of the industry, outperforming 75.00% of the companies in the same industry.
In the last couple of years the Profit Margin of EIF-DB-M has declined.
EIF-DB-M has a better Operating Margin (11.97%) than 87.50% of its industry peers.
EIF-DB-M's Operating Margin has been stable in the last couple of years.
The Gross Margin of EIF-DB-M (37.29%) is worse than 62.50% of its industry peers.
In the last couple of years the Gross Margin of EIF-DB-M has declined.
Industry RankSector Rank
OM 11.97%
PM (TTM) 4.71%
GM 37.29%
OM growth 3Y5.55%
OM growth 5Y0.17%
PM growth 3Y-2.07%
PM growth 5Y-6.07%
GM growth 3Y-0.42%
GM growth 5Y-1.74%
EIF-DB-M.CA Yearly Profit, Operating, Gross MarginsEIF-DB-M.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

4

2. Health

2.1 Basic Checks

EIF-DB-M has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
EIF-DB-M has more shares outstanding than it did 1 year ago.
EIF-DB-M has more shares outstanding than it did 5 years ago.
EIF-DB-M has a worse debt/assets ratio than last year.
EIF-DB-M.CA Yearly Shares OutstandingEIF-DB-M.CA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M
EIF-DB-M.CA Yearly Total Debt VS Total AssetsEIF-DB-M.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B

2.2 Solvency

An Altman-Z score of 2.12 indicates that EIF-DB-M is not a great score, but indicates only limited risk for bankruptcy at the moment.
The Altman-Z score of EIF-DB-M (2.12) is better than 62.50% of its industry peers.
EIF-DB-M has a Debt/Equity ratio of 1.67. This is a high value indicating a heavy dependency on external financing.
The Debt to Equity ratio of EIF-DB-M (1.67) is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 1.67
Debt/FCF N/A
Altman-Z 2.12
ROIC/WACC0.69
WACC8.62%
EIF-DB-M.CA Yearly LT Debt VS Equity VS FCFEIF-DB-M.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B 1.5B 2B

2.3 Liquidity

A Current Ratio of 2.24 indicates that EIF-DB-M has no problem at all paying its short term obligations.
The Current ratio of EIF-DB-M (2.24) is better than 87.50% of its industry peers.
EIF-DB-M has a Quick Ratio of 1.47. This is a normal value and indicates that EIF-DB-M is financially healthy and should not expect problems in meeting its short term obligations.
With an excellent Quick ratio value of 1.47, EIF-DB-M belongs to the best of the industry, outperforming 87.50% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 2.24
Quick Ratio 1.47
EIF-DB-M.CA Yearly Current Assets VS Current LiabilitesEIF-DB-M.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

6

3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 12.95% over the past year.
The Earnings Per Share has been decreasing by -0.27% on average over the past years.
Looking at the last year, EIF-DB-M shows a small growth in Revenue. The Revenue has grown by 6.87% in the last year.
The Revenue has been growing by 14.67% on average over the past years. This is quite good.
EPS 1Y (TTM)12.95%
EPS 3Y9.61%
EPS 5Y-0.27%
EPS Q2Q%14.29%
Revenue 1Y (TTM)6.87%
Revenue growth 3Y23.47%
Revenue growth 5Y14.67%
Sales Q2Q%8.99%

3.2 Future

The Earnings Per Share is expected to grow by 13.84% on average over the next years. This is quite good.
The Revenue is expected to grow by 15.17% on average over the next years. This is quite good.
EPS Next Y27.78%
EPS Next 2Y24.79%
EPS Next 3Y22.7%
EPS Next 5Y13.84%
Revenue Next Year13.98%
Revenue Next 2Y12.86%
Revenue Next 3Y11.35%
Revenue Next 5Y15.17%

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 stable.
EIF-DB-M.CA Yearly Revenue VS EstimatesEIF-DB-M.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 1B 2B 3B 4B 5B
EIF-DB-M.CA Yearly EPS VS EstimatesEIF-DB-M.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 1 2 3 4 5

3

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 38.78, the valuation of EIF-DB-M can be described as expensive.
Based on the Price/Earnings ratio, EIF-DB-M is valued a bit cheaper than the industry average as 62.50% of the companies are valued more expensively.
Compared to an average S&P500 Price/Earnings ratio of 27.13, EIF-DB-M is valued a bit more expensive.
With a Price/Forward Earnings ratio of 26.51, EIF-DB-M can be considered very expensive at the moment.
Based on the Price/Forward Earnings ratio, EIF-DB-M is valued a bit cheaper than 62.50% of the companies in the same industry.
EIF-DB-M is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 22.76, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 38.78
Fwd PE 26.51
EIF-DB-M.CA Price Earnings VS Forward Price EarningsEIF-DB-M.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

The rest of the industry has a similar Enterprise Value to EBITDA ratio as EIF-DB-M.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 12.77
EIF-DB-M.CA Per share dataEIF-DB-M.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30 40 50

4.3 Compensation for Growth

EIF-DB-M's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
EIF-DB-M has a very decent profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as EIF-DB-M's earnings are expected to grow with 22.70% in the coming years.
PEG (NY)1.4
PEG (5Y)N/A
EPS Next 2Y24.79%
EPS Next 3Y22.7%

4

5. Dividend

5.1 Amount

EIF-DB-M has a Yearly Dividend Yield of 3.65%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 2.83, EIF-DB-M pays a better dividend. On top of this EIF-DB-M pays more dividend than 87.50% of the companies listed in the same industry.
EIF-DB-M's Dividend Yield is rather good when compared to the S&P500 average which is at 2.32.
Industry RankSector Rank
Dividend Yield 3.65%

5.2 History

The dividend of EIF-DB-M has a limited annual growth rate of 3.39%.
EIF-DB-M does not have a reliable dividend history as it only pays dividend since a couple or years.
Dividend Growth(5Y)3.39%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

EIF-DB-M pays out 99.73% of its income as dividend. This is not a sustainable payout ratio.
The dividend of EIF-DB-M is growing, but earnings are growing more, so the dividend growth is sustainable.
DP99.73%
EPS Next 2Y24.79%
EPS Next 3Y22.7%
EIF-DB-M.CA Yearly Income VS Free CF VS DividendEIF-DB-M.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M -50M 100M -100M -150M
EIF-DB-M.CA Dividend Payout.EIF-DB-M.CA Dividend Payout, showing the Payout Ratio.EIF-DB-M.CA Dividend Payout.PayoutRetained Earnings

EXCHANGE INCOME CORP

TSX:EIF-DB-M (8/29/2025, 7:00:00 PM)

121.77

-1.73 (-1.4%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryPassenger Airlines
Earnings (Last)08-11 2025-08-11/amc
Earnings (Next)11-05 2025-11-05
Inst Owners10.86%
Inst Owner ChangeN/A
Ins Owners6.1%
Ins Owner ChangeN/A
Market Cap6.29B
Analysts81.18
Price Target140.57 (15.44%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.65%
Yearly Dividend2.6
Dividend Growth(5Y)3.39%
DP99.73%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-6.59%
Min EPS beat(2)-10.57%
Max EPS beat(2)-2.6%
EPS beat(4)0
Avg EPS beat(4)-5.53%
Min EPS beat(4)-10.57%
Max EPS beat(4)-2.6%
EPS beat(8)1
Avg EPS beat(8)-4.98%
EPS beat(12)2
Avg EPS beat(12)-5.38%
EPS beat(16)6
Avg EPS beat(16)7.57%
Revenue beat(2)0
Avg Revenue beat(2)-1.67%
Min Revenue beat(2)-2.71%
Max Revenue beat(2)-0.64%
Revenue beat(4)0
Avg Revenue beat(4)-3.34%
Min Revenue beat(4)-5.7%
Max Revenue beat(4)-0.64%
Revenue beat(8)2
Avg Revenue beat(8)-1.98%
Revenue beat(12)6
Avg Revenue beat(12)0.28%
Revenue beat(16)10
Avg Revenue beat(16)3.05%
PT rev (1m)10.68%
PT rev (3m)1.01%
EPS NQ rev (1m)6.51%
EPS NQ rev (3m)-36.77%
EPS NY rev (1m)1%
EPS NY rev (3m)1%
Revenue NQ rev (1m)7.27%
Revenue NQ rev (3m)25.53%
Revenue NY rev (1m)3%
Revenue NY rev (3m)2.9%
Valuation
Industry RankSector Rank
PE 38.78
Fwd PE 26.51
P/S 2.26
P/FCF N/A
P/OCF 14.05
P/B 4.34
P/tB 22.31
EV/EBITDA 12.77
EPS(TTM)3.14
EY2.58%
EPS(NY)4.59
Fwd EY3.77%
FCF(TTM)-1.16
FCFYN/A
OCF(TTM)8.67
OCFY7.12%
SpS53.94
BVpS28.03
TBVpS5.46
PEG (NY)1.4
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 2.75%
ROE 9.07%
ROCE 8.1%
ROIC 5.96%
ROICexc 6.32%
ROICexgc 9.02%
OM 11.97%
PM (TTM) 4.71%
GM 37.29%
FCFM N/A
ROA(3y)2.91%
ROA(5y)2.52%
ROE(3y)9.73%
ROE(5y)8.37%
ROIC(3y)5.98%
ROIC(5y)5.34%
ROICexc(3y)6.18%
ROICexc(5y)5.52%
ROICexgc(3y)9.03%
ROICexgc(5y)8.05%
ROCE(3y)8.13%
ROCE(5y)7.25%
ROICexcg growth 3Y4.16%
ROICexcg growth 5Y1.41%
ROICexc growth 3Y5.19%
ROICexc growth 5Y0.27%
OM growth 3Y5.55%
OM growth 5Y0.17%
PM growth 3Y-2.07%
PM growth 5Y-6.07%
GM growth 3Y-0.42%
GM growth 5Y-1.74%
F-Score5
Asset Turnover0.58
Health
Industry RankSector Rank
Debt/Equity 1.67
Debt/FCF N/A
Debt/EBITDA 3.63
Cap/Depr 152.1%
Cap/Sales 18.22%
Interest Coverage 2.68
Cash Conversion 67.08%
Profit Quality N/A
Current Ratio 2.24
Quick Ratio 1.47
Altman-Z 2.12
F-Score5
WACC8.62%
ROIC/WACC0.69
Cap/Depr(3y)171.71%
Cap/Depr(5y)149%
Cap/Sales(3y)18.83%
Cap/Sales(5y)17.8%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)12.95%
EPS 3Y9.61%
EPS 5Y-0.27%
EPS Q2Q%14.29%
EPS Next Y27.78%
EPS Next 2Y24.79%
EPS Next 3Y22.7%
EPS Next 5Y13.84%
Revenue 1Y (TTM)6.87%
Revenue growth 3Y23.47%
Revenue growth 5Y14.67%
Sales Q2Q%8.99%
Revenue Next Year13.98%
Revenue Next 2Y12.86%
Revenue Next 3Y11.35%
Revenue Next 5Y15.17%
EBIT growth 1Y14.84%
EBIT growth 3Y30.33%
EBIT growth 5Y14.87%
EBIT Next Year98.94%
EBIT Next 3Y32.31%
EBIT Next 5Y28.71%
FCF growth 1Y11.09%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y31.27%
OCF growth 3Y7.79%
OCF growth 5Y10.45%