Board Change • 27m
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. President, CEO, Secretary & Director Simon Hitzig was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • May 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 66% per year over the past 5 years. Market cap is less than US$10m (CA$10.4m market cap, or US$7.50m). Minor Risks High level of debt (230% net debt to equity). Share price has been volatile over the past 3 months (14% average weekly change). Announcement • May 16
Accord Financial Corp. Announces Resignation of David Beutel as Director, Effective May 14, 2026 Accord Financial Corp. announced that Mr. David Beutel resigned from the board of directors on May 14, 2026. New Risk • Apr 04
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: CA$6.8m (US$4.9m) This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (2.0% operating cash flow to total debt). Earnings have declined by 62% per year over the past 5 years. Market cap is less than US$10m (CA$12.8m market cap, or US$9.21m). Minor Risk Revenue is less than US$5m (CA$6.8m revenue, or US$4.9m). New Risk • Mar 26
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.7m (US$9.89m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 52% per year over the past 5 years. Market cap is less than US$10m (CA$13.7m market cap, or US$9.89m). Announcement • Mar 17
Accord Financial Corp., Annual General Meeting, May 12, 2026 Accord Financial Corp., Annual General Meeting, May 12, 2026. Location: ontario, toronto Canada New Risk • Dec 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 15% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 52% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (CA$14.7m market cap, or US$10.7m). New Risk • Dec 17
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.5m (US$9.80m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 52% per year over the past 5 years. Market cap is less than US$10m (CA$13.5m market cap, or US$9.80m). Board Change • May 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 3 highly experienced directors. Independent Director Burt Feinberg was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Mar 18
Accord Financial Corp., Annual General Meeting, May 14, 2025 Accord Financial Corp., Annual General Meeting, May 14, 2025. Location: ontario, toronto Canada Announcement • Oct 01
An undisclosed buyer acquired Portfolio Assets of Accord Equipment Finance from Accord Financial Corp. (TSX:ACD) for CAD 63.2 million. An undisclosed buyer acquired Portfolio Assets of Accord Equipment Finance from Accord Financial Corp. (TSX:ACD) for CAD 63.2 million on September 30, 2024. The acquirer is one of the largest privately held factor and finance companies in the United States, now expanding into equipment leasing. AEF’s team of professionals are joining the acquirer along with the portfolio of leases. Net proceeds will be used to pay down Accord Financial Corp.'s primary banking facility. Hovde Group, LLC acted as financial advisor for Accord Financial Corp.
An undisclosed buyer completed the acquisition of Portfolio Assets of Accord Equipment Finance from Accord Financial Corp. (TSX:ACD) on September 30, 2024. New Risk • Mar 28
New major risk - Revenue and earnings growth Earnings have declined by 36% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 36% per year over the past 5 years. Minor Risk Market cap is less than US$100m (CA$42.1m market cap, or US$31.1m). Announcement • Mar 16
Accord Financial Corp., Annual General Meeting, May 14, 2024 Accord Financial Corp., Annual General Meeting, May 14, 2024. New Risk • Aug 13
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 4.7% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risk Market cap is less than US$100m (CA$54.8m market cap, or US$40.7m). Announcement • Aug 03
Accord Financial Corp. Declares Regular Quarterly Dividend, Payable on September 1, 2023 Accord Financial Corp. announced that its Board of Directors has declared a quarterly dividend of $0.075 per share, payable September 1, 2023, to shareholders of record at the close of business August 15, 2023. Announcement • Jun 29
Accord Financial Corp. Announces the Launch of Accord|EDC Trade Expansion Lending Program Accord Financial Corp. announced the launch of Accord|EDC Trade Expansion Lending Program ("Accord|EDC TELP"), the Company's latest financing innovation supported by Export Development Canada (EDC). Accord|EDC TELP builds on Accord's success in tailoring EDC programs specifically for the Canadian small business sector. Accord is the first non-bank, or non-credit union, financial institution to partner with EDC in directly financing Canadian SMEs with TELP. Accord|EDC TEL P supports companies engaged all the way along the export supply chain (including companies supporting exporters with goods and services). As fast and flexible as Accord's previous AccordExpress programs, qualified businesses can win a working capital approval for up to $250,000 within two business days, and can also provide financing up to $3 million by adding a modest level of ongoing reporting to Accord. Accord|EDC TelP offers a unique, flexible revolving facility to finance operations and growth, or term loans to purchase equipment. Accord|EDC TelP is supported by EDC's Trade Expansion Lending Program (TELP); sharing credit risk with EDC allows Accord to offer simpler approvals, supporting a wider range of SMEs based on credit score. Since 2021 Accord has lent $250 million to more than 1,500 Canadian small businesses, supported by EDC's Business Credit Availability Program ("BCAP") Guarantee and Trade Recovery Guarantee ("TRG"). Accord|EDC TELp builds on this success, continuing to finance a diverse cross-section of the Canadian business community. Accord|EDC TELP is aimed at companies selling raw materials, manufactured goods and services outside of Canada (direct exporters), companies supplying goods and services to exporters (indirect exporters), as well as companies with a defined export expansion plan ready for action (future exporters). As an exporting nation, thousands of Canadian companies are involved directly and indirectly in export-related activities. Announcement • May 05
Accord Financial Corp. Declares Quarterly Dividend, Payable on June 1, 2023 Accord Financial Corp. announced that its Board of Directors has declared a quarterly dividend of $0.075 per share, payable June 1, 2023, to shareholders of record at the close of business May 15, 2023. Buying Opportunity • Mar 01
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 3.4%. The fair value is estimated to be CA$9.38, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 36%. Announcement • Feb 08
Accord Financial Corp. Declares Regular Quarterly Dividend, Payable on March 1, 2023 Accord Financial Corp. announced that its Board of Directors has declared a quarterly dividend of $0.075 per share, payable March 1, 2023, to shareholders of record at the close of business February 15, 2023. Upcoming Dividend • Nov 07
Upcoming dividend of CA$0.075 per share Eligible shareholders must have bought the stock before 14 November 2022. Payment date: 01 December 2022. Payout ratio is a comfortable 5.0% but the company is not cash flow positive. Trailing yield: 3.7%. Lower than top quartile of Canadian dividend payers (6.0%). Higher than average of industry peers (1.8%). Announcement • Nov 03
Accord Financial Corp. Declares a Quarterly Dividend, Payable December 1, 2022 Accord Financial Corp.'s Board of Directors declared a quarterly dividend of 7.5 cents per common share, payable December 1, 2022, to shareholders of record November 15, 2022. Announcement • Oct 12
Accord Financial Corp. Appoints Karim Habib Joins as Managing Director, Business Development Accord Financial Corp., has expanded their Canadian Asset Based Finance/Factoring senior management team to include Karim Habib as Managing Director, Business Development Ontario and Western Canada. His responsibilities will include expanding Accord's brand presence as well as developing long-term business growth strategies. Karim will work closely with Accord's leadership team developing client relationships, leading new transaction opportunities and representing Accord at various industry events. Based in Toronto, Karim brings expertise working with small and medium size companies facilitating a full range of corporate finance and investment banking services. His long career includes business development, expansion capital, factoring, and asset-based lending. Most recently with eCapital Corp. as Managing Director, he held key management positions at Wells Fargo Capital Finance and RBC Capital Markets, as well as Laurentian Bank of Canada. He is a graduate of the International MBA program at Niagara University and has an undergraduate degree from Wilfrid Laurier University. About Accord Financial Corp. Announcement • Oct 06
Accord Financial Corp. Announces the Promotion of Irene Eddy as Chief Financial Officer Accord Financial Corp. announced the promotion of Irene Eddy as its Chief Financial Officer effective October 1, 2022. As CFO, Eddy will lead Accord's finance organization, responsible for providing strategic and operational leadership and supporting business unit leaders in all areas of finance, capital, reporting and strategy. Eddy joined Accord in 2019 as Senior Vice President, Capital Markets, and as a member of the executive leadership team, helped guide corporate strategy and planning. Since joining Accord, she has handled all aspects of the company's financing requirements, including sourcing, closing, and managing its key banking relationships. She has also been responsible for diversifying Accord's sources of capital through the addition of several strategic funding partners. Eddy was named interim CFO earlier this year. Prior to joining Accord, Eddy spent over 20 years at GE Capital building innovative structured financing platforms. She has her law degree from Fordham University and is a certified public accountant. Announcement • Aug 04
Accord Declares Regular Quarterly Dividend, Payable on September 1, 2022 Accord Financial Corp.'s Board of Directors declared a quarterly dividend of 7.5 cents per common share, payable September 1, 2022 to shareholders of record August 15, 2022. Announcement • Jun 03
Accord Financial Corp. Announces Executive Changes Accord Financial Corp. announced the appointment of Irene Eddy as interim CFO effective June 15, 2022 alongside the departure of Stuart Adair, the company's long-time CFO. Eddy joined Accord in 2019 as Senior Vice President, Capital Markets, and as a member of the executive leadership team, helped guide corporate strategy and planning. Since joining Accord, she has handled all aspects of the company's financing requirements, including managing its key banking relationship and diversifying its sources of capital through the addition of several strategic funding partners. After almost twenty years with Accord, Stuart Adair is moving on to a new challenge as of June 15th. During his long tenure, he oversaw the company's public company obligations and delivered financial reporting at the standard expected of a highly respected company such as Accord. In addition to her experience at Accord, Eddy has her law degree from Fordham University and is a certified public accountant (inactive). Upcoming Dividend • May 05
Upcoming dividend of CA$0.075 per share Eligible shareholders must have bought the stock before 12 May 2022. Payment date: 01 June 2022. Payout ratio is a comfortable 14% but the company is not cash flow positive. Trailing yield: 3.5%. Lower than top quartile of Canadian dividend payers (4.8%). Higher than average of industry peers (2.6%). Announcement • Apr 22
Accord Declares Regular Quarterly Dividend, Payable on June 1, 2022 Accord Financial Corp. announced that its Board of Directors has declared a quarterly dividend of $0.075 per common share, payable June 1, 2022, to shareholders of record at the close of business May 13, 2022. Announcement • Mar 03
Accord Financial Corp., Annual General Meeting, May 04, 2022 Accord Financial Corp., Annual General Meeting, May 04, 2022. Upcoming Dividend • Feb 07
Upcoming dividend of CA$0.075 per share Eligible shareholders must have bought the stock before 14 February 2022. Payment date: 01 March 2022. Payout ratio is a comfortable 17% but the company is not cash flow positive. Trailing yield: 3.7%. Lower than top quartile of Canadian dividend payers (4.8%). Lower than average of industry peers (17%). Announcement • Jan 30
Accord Financial Corp Declares Quarterly Dividend, Payable March 1, 2022 Accord Financial Corp. announced that its Board of Directors has declared a quarterly dividend of $0.075 per common share, payable March 1, 2022, to shareholders of record at the close of business February 15, 2022. This represents a 50% increase from $0.05 per share paid in recent quarters. Upcoming Dividend • Nov 05
Upcoming dividend of CA$0.05 per share Eligible shareholders must have bought the stock before 12 November 2021. Payment date: 01 December 2021. Trailing yield: 2.4%. Lower than top quartile of Canadian dividend payers (4.5%). Higher than average of industry peers (1.7%). Recent Insider Transactions • Oct 31
Insider recently sold CA$642k worth of stock On the 26th of October, Austin Beutel sold around 79k shares on-market at roughly CA$8.12 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$641k more than they bought in the last 12 months. Upcoming Dividend • Aug 06
Upcoming dividend of CA$0.05 per share Eligible shareholders must have bought the stock before 13 August 2021. Payment date: 01 September 2021. Trailing yield: 2.2%. Lower than top quartile of Canadian dividend payers (4.6%). Higher than average of industry peers (1.7%). Announcement • Jun 09
Accord Financial Corp. Announces Launch of AccordExpress Factoring Accord Financial Corp. announced the launch of AccordExpress Factoring, simplifying access to capital for Canadian small and medium sized enterprises (SMEs). With businesses stretched to the limit with pandemic-related debt and the costs of gearing back up as the economy reopens, AccordExpress Factoring unlocks cash tied up in receivables creating an ideal solution for companies preparing to reopen and grow. No other company in Canada can match the speed and flexibility of Accord's new program. While factoring is a popular cash flow tool, Accord's financial strength has allowed it to enhance the solution. Term sheets are delivered in 48 hours and funding up to $2 million arrives within ten business days. AccordExpress Factoring provides immediate access of up to 90% cash advance on accounts receivable, either one debtor or all receivables with no setup fee or long-term contract, allowing clients to easily sign up and use the program for as long as they want. The new program follows on the successful launch of AccordExpress BCAP, Accord's unique pandemic relief small business loan program. Upcoming Dividend • May 07
Upcoming dividend of CA$0.05 per share Eligible shareholders must have bought the stock before 13 May 2021. Payment date: 01 June 2021. Trailing yield: 2.3%. Lower than top quartile of Canadian dividend payers (4.7%). Higher than average of industry peers (1.7%). Announcement • Mar 04
Accord Financial Corp., Annual General Meeting, May 05, 2021 Accord Financial Corp., Annual General Meeting, May 05, 2021. Is New 90 Day High Low • Jan 05
New 90-day high: CA$6.98 The company is up 26% from its price of CA$5.53 on 06 October 2020. The Canadian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Diversified Financial industry, which is up 19% over the same period. Announcement • Dec 18
Accord Financial Corp. Announces the Launch of AccordExpress Accord Financial Corp. announced the launch of AccordExpress, a financing solution aimed at bridging Canadian small businesses through to the economic recovery. AccordExpress offers a simple, twenty-minute online application process with a unique proprietary credit model to approve and fund loans within two business days. This industry first solution delivers up to $250,000 for qualified businesses, with flexible terms designed to manage cash flows through the current challenging business environment. AccordExpress is ideal for business owners committed to staying the course and coming through the downturn ready to grow again. The technology behind AccordExpress accelerates the entire process, so that clients can focus on today's challenges and tomorrow's opportunities. Announcement • Dec 12
Accord Financial Corp. Announces Appointments Accord Financial Corp. announced two new members of the executive leadership. Barrett Carlson, Senior Vice President, Corporate Development, will oversee all aspects of the company's growth, development and marketing. Eric Starr, Senior Vice President, Program Operations and Risk, is spearheading Accord's strategic and digital transformation. Barrett Carlson's responsibilities include both corporate development and brand management. His entrepreneurial background gives him a strong understanding of many of the issues facing Accord's clients. Prior to joining the Accord family as a partner in CapX Partners, Barrett was a founding or managing partner at Capital Concepts Holdings, LLC and Waterstone Consulting, a high growth management consulting and technology services firm. He is a graduate of the University of Illinois. Eric Starr is an ardent problem-solver who combines data and technology with a human touch to transform complicated processes into easy solutions. He brings a spirit of innovation to Accord having been a founder or partner at quantitative hedge funds including Aventine Investment Management, Starr Capital Management and Forest Investment Management before joining CapX Partners, a member of the Accord family. He is a graduate of Brandeis University and holds an MBA from New York University. With a new, streamlined organizational structure bringing all commercial lending businesses under the Accord Financial brand, Accord's systems seamlessly integrate both clients and financial partners resulting in fast and flexible financing. Its new brand is focused on simplifying access to capital for both small businesses and medium sized enterprises across the U.S. and Canada and recently launched a new brand image and website offering simple navigation to solutions and people designed to help connect companies in need with the right funding at the right time. Is New 90 Day High Low • Dec 05
New 90-day high: CA$6.96 The company is up 18% from its price of CA$5.90 on 04 September 2020. The Canadian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Diversified Financial industry, which is up 21% over the same period. Is New 90 Day High Low • Nov 17
New 90-day high: CA$6.18 The company is up 5.0% from its price of CA$5.91 on 19 August 2020. The Canadian market is up 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Diversified Financial industry, which is up 14% over the same period. Upcoming Dividend • Nov 05
Upcoming Dividend of CA$0.05 Per Share Will be paid on the 1st of December to those who are registered shareholders by the 12th of November. The trailing yield of 3.8% is below the top quartile of Canadian dividend payers (5.9%), but it is higher than industry peers (2.0%). Is New 90 Day High Low • Oct 19
New 90-day low: CA$5.31 The company is down 11% from its price of CA$6.00 on 21 July 2020. The Canadian market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Diversified Financial industry, which is up 20% over the same period. 
