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EQB TSX:EQB Stock Report

Last Price


Market Cap







10 Aug, 2022


Company Financials +
EQB fundamental analysis
Snowflake Score
Future Growth3/6
Past Performance4/6
Financial Health4/6

EQB Stock Overview

EQB Inc., through its subsidiary, Equitable Bank, provides personal and commercial banking services to retail and commercial customers in Canada.

EQB Competitors

Price History & Performance

Summary of all time highs, changes and price drops for EQB
Historical stock prices
Current Share PriceCA$55.14
52 Week HighCA$84.78
52 Week LowCA$50.68
1 Month Change3.28%
3 Month Change-2.39%
1 Year Change-28.51%
3 Year Change19.61%
5 Year Change95.81%
Change since IPO386.89%

Recent News & Updates

Jun 30
Do EQB's (TSE:EQB) Earnings Warrant Your Attention?

Do EQB's (TSE:EQB) Earnings Warrant Your Attention?

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...

Shareholder Returns

EQBCA MortgageCA Market

Return vs Industry: EQB underperformed the Canadian Mortgage industry which returned -20.8% over the past year.

Return vs Market: EQB underperformed the Canadian Market which returned -2% over the past year.

Price Volatility

Is EQB's price volatile compared to industry and market?
EQB volatility
EQB Average Weekly Movement4.9%
Mortgage Industry Average Movement3.2%
Market Average Movement10.8%
10% most volatile stocks in CA Market19.4%
10% least volatile stocks in CA Market4.3%

Stable Share Price: EQB is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: EQB's weekly volatility (5%) has been stable over the past year.

About the Company

19701,219Andrew R. Moor

EQB Inc., through its subsidiary, Equitable Bank, provides personal and commercial banking services to retail and commercial customers in Canada. The company accepts term deposits and guaranteed investment certificates, high interest savings accounts, tax-free savings accounts, and institutional deposit notes, as well as specialized financing solutions. Its loan products include residential mortgages; equipment loans; home equity, cash surrender value, and commercial equity lines of credit; business enterprise solutions comprising mixed use, multi-residential properties, retail spaces, office condominiums, and industrial buildings; and asset repositioning, inventory, term, and construction loans.

EQB Fundamentals Summary

How do EQB's earnings and revenue compare to its market cap?
EQB fundamental statistics
Market CapCA$1.88b
Earnings (TTM)CA$306.90m
Revenue (TTM)CA$687.38m


P/E Ratio


P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
EQB income statement (TTM)
Cost of RevenueCA$0
Gross ProfitCA$0
Other ExpensesCA$0

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Aug 10, 2022

Earnings per share (EPS)8.98
Gross Margin100.00%
Net Profit Margin44.65%
Debt/Equity Ratio602.4%

How did EQB perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio
We’ve recently updated our valuation analysis.


Is EQB undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score


Valuation Score 6/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for EQB?

Other financial metrics that can be useful for relative valuation.

EQB key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio0.4x

Price to Earnings Ratio vs Peers

How does EQB's PE Ratio compare to its peers?

EQB PE Ratio vs Peers
The above table shows the PE ratio for EQB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average10.9x
FN First National Financial
HCG Home Capital Group
MKP MCAN Mortgage
TF Timbercreek Financial

Price-To-Earnings vs Peers: EQB is good value based on its Price-To-Earnings Ratio (6.1x) compared to the peer average (10.9x).

Price to Earnings Ratio vs Industry

How does EQB's PE Ratio compare vs other companies in the North American Mortgage Industry?

Price-To-Earnings vs Industry: EQB is good value based on its Price-To-Earnings Ratio (6.1x) compared to the Canadian Mortgage industry average (7.9x)

Price to Earnings Ratio vs Fair Ratio

What is EQB's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

EQB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.1x
Fair PE Ratio13.4x

Price-To-Earnings vs Fair Ratio: EQB is good value based on its Price-To-Earnings Ratio (6.1x) compared to the estimated Fair Price-To-Earnings Ratio (13.4x).

Share Price vs Fair Value

What is the Fair Price of EQB when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: EQB (CA$55.14) is trading below our estimate of fair value (CA$184.77)

Significantly Below Fair Value: EQB is trading below fair value by more than 20%.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Future Growth

How is EQB forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

Future Growth Score


Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: EQB's forecast earnings growth (13.7% per year) is above the savings rate (1.6%).

Earnings vs Market: EQB's earnings (13.7% per year) are forecast to grow faster than the Canadian market (7.8% per year).

High Growth Earnings: EQB's earnings are forecast to grow, but not significantly.

Revenue vs Market: EQB's revenue (14.7% per year) is forecast to grow faster than the Canadian market (6.3% per year).

High Growth Revenue: EQB's revenue (14.7% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: EQB's Return on Equity is forecast to be low in 3 years time (14.8%).

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Past Performance

How has EQB performed over the past 5 years?

Past Performance Score


Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: EQB has high quality earnings.

Growing Profit Margin: EQB's current net profit margins (44.6%) are lower than last year (45.6%).

Past Earnings Growth Analysis

Earnings Trend: EQB's earnings have grown by 16.2% per year over the past 5 years.

Accelerating Growth: EQB's earnings growth over the past year (16.9%) exceeds its 5-year average (16.2% per year).

Earnings vs Industry: EQB earnings growth over the past year (16.9%) exceeded the Mortgage industry 4%.

Return on Equity

High ROE: EQB's Return on Equity (15.3%) is considered low.

Discover strong past performing companies

Financial Health

How is EQB's financial position? (This company is analysed differently as a bank or financial institution)

Financial Health Score


Financial Health Score 4/6

  • Asset Level

  • Allowance for Bad Loans

  • Low Risk Liabilities

  • Loan Level

  • Low Risk Deposits

  • Level of Bad Loans

Financial Position Analysis

Debt to Equity History and Analysis

Balance Sheet

Financial Institutions Analysis

Asset Level: EQB's Assets to Equity ratio (18.2x) is moderate.

Allowance for Bad Loans: EQB has a low allowance for bad loans (62%).

Low Risk Liabilities: 63% of EQB's liabilities are made up of primarily low risk sources of funding.

Loan Level: EQB has an appropriate level of Loans to Assets ratio (92%).

Low Risk Deposits: EQB's Loans to Deposits ratio (155%) is high.

Level of Bad Loans: EQB has an appropriate level of bad loans (0.2%).

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What is EQB current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 5/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: EQB's dividend (2.1%) is higher than the bottom 25% of dividend payers in the Canadian market (1.93%).

High Dividend: EQB's dividend (2.1%) is low compared to the top 25% of dividend payers in the Canadian market (5.39%).

Stability and Growth of Payments

Stable Dividend: EQB's dividends per share have been stable in the past 10 years.

Growing Dividend: EQB's dividend payments have increased over the past 10 years.

Current Payout to Shareholders

Earnings Coverage: With its low payout ratio (9.2%), EQB's dividend payments are thoroughly covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: EQB's dividends in 3 years are forecast to be well covered by earnings (15.1% payout ratio).

Discover strong dividend paying companies


How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Andrew R. Moor (62 yo)





Mr. Andrew R. G. Moor serves as Independent Director at Sleep Country Canada Holdings Inc. since July 16, 2015. Mr. Moor joined EQB Inc. (formerly known as Equitable Group Inc.)orporated and Equitable Bank...

CEO Compensation Analysis

Compensation vs Market: Andrew R.'s total compensation ($USD2.50M) is about average for companies of similar size in the Canadian market ($USD2.30M).

Compensation vs Earnings: Andrew R.'s compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: EQB's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.

Board Members

Experienced Board: EQB's board of directors are considered experienced (8.3 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

EQB Inc.'s employee growth, exchange listings and data sources

Key Information

  • Name: EQB Inc.
  • Ticker: EQB
  • Exchange: TSX
  • Founded: 1970
  • Industry: Thrifts and Mortgage Finance
  • Sector: Banks
  • Implied Market Cap: CA$1.884b
  • Shares outstanding: 34.16m
  • Website:

Number of Employees


  • EQB Inc.
  • Equitable Bank Tower
  • Suite 700
  • Toronto
  • Ontario
  • M4V 3A1
  • Canada


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/10 00:00
End of Day Share Price2022/08/10 00:00
Annual Earnings2021/12/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.