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

FN is expensive based on its Price-To-Earnings Ratio (14.3x) compared to the peer average (10.7x).

How does FN's PE Ratio compare vs other companies in the North American Diversified Financial Industry?

FN is good value based on its Price-To-Earnings Ratio (14.3x) compared to the North American Diversified Financial industry average (14.8x).

What is FN'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.

FN is expensive based on its Price-To-Earnings Ratio (14.3x) compared to the estimated Fair Price-To-Earnings Ratio (13.9x).

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

FN (CA$43.03) is trading below our estimate of [[fair value]] (CA$72.13)

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

Target price is less than 20% higher than the current share price.

First National Financial (TSX:FN) - Stock Price, News & Analysis

FN Stock Overview

First National Financial Corporation, together with its subsidiaries, originates, underwrites, and services commercial and residential mortgages in Canada. More details

FN fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	3/6
Past Performance	2/6
Financial Health	2/6
Dividends	5/6

Rewards

Trading at 40.3% below our estimate of its fair value

Earnings are forecast to grow 15.86% per year

Pays a reliable dividend of 5.69%

Risk Analysis

Debt is not well covered by operating cash flow

First National Financial Corporation Competitors

MCAN Mortgage

TSX:MKP

CA$756.0m

Atrium Mortgage Investment

TSX:AI

CA$525.9m

Timbercreek Financial

TSX:TF

CA$645.8m

Firm Capital Mortgage Investment

TSX:FC

CA$419.9m

Price History & Performance

Summary of all time highs, changes and price drops for First National Financial
Historical stock prices
Current Share Price	CA$43.03
52 Week High	CA$43.48
52 Week Low	CA$35.15
Beta	1.06
11 Month Change	7.71%
3 Month Change	15.64%
1 Year Change	13.27%
33 Year Change	-4.06%
5 Year Change	-3.52%
Change since IPO	329.87%

Recent updates

Insufficient Growth At First National Financial Corporation (TSE:FN) Hampers Share Price

Jul 17

First National Financial's (TSE:FN) Shareholders Will Receive A Bigger Dividend Than Last Year

Nov 23

First National Financial (TSE:FN) Is Increasing Its Dividend To CA$0.75

Nov 09

First National Financial (TSE:FN) Has Affirmed Its Dividend Of CA$0.20

Oct 20

First National Financial (TSE:FN) Is Paying Out A Dividend Of CA$0.20

Sep 26

First National Financial (TSE:FN) Has Affirmed Its Dividend Of CA$0.20

Aug 26

First National Financial's (TSE:FN) Dividend Will Be CA$0.20

Jul 20

First National Financial (TSE:FN) Is Paying Out A Dividend Of CA$0.20

Jun 23

First National Financial (TSE:FN) Has Announced A Dividend Of CA$0.20

Apr 21

Industry Analysts Just Upgraded Their First National Financial Corporation (TSE:FN) Revenue Forecasts By 36%

Mar 03

First National Financial (TSE:FN) Has Announced A Dividend Of CA$0.20

Feb 19

Shareholder Returns

	FN	CA Diversified Financial	CA Market
7D	-0.4%	2.4%	-0.7%
1Y	13.3%	19.0%	20.2%

Return vs Industry: FN underperformed the Canadian Diversified Financial industry which returned 19.2% over the past year.

Return vs Market: FN underperformed the Canadian Market which returned 20.4% over the past year.

Price Volatility

Is FN's price volatile compared to industry and market?
FN volatility
FN Average Weekly Movement	2.0%
Diversified Financial Industry Average Movement	4.6%
Market Average Movement	8.3%
10% most volatile stocks in CA Market	17.5%
10% least volatile stocks in CA Market	2.9%

Stable Share Price: FN has not had significant price volatility in the past 3 months compared to the Canadian market.

Volatility Over Time: FN's weekly volatility (2%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1988	1,745	Jason Ellis	www.firstnational.ca

First National Financial Corporation, together with its subsidiaries, originates, underwrites, and services commercial and residential mortgages in Canada. It operates in two segments, Residential and Commercial segments. The company offers single-family and multi-unit residential, and commercial mortgages.

First National Financial Corporation Fundamentals Summary

How do First National Financial's earnings and revenue compare to its market cap?
FN fundamental statistics
Market cap	CA$2.58b
Earnings (TTM)	CA$180.66m
Revenue (TTM)	CA$639.29m

14.3x

P/E Ratio

4.0x

P/S Ratio

Is FN overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
FN income statement (TTM)
Revenue	CA$639.29m
Cost of Revenue	CA$89.27m
Gross Profit	CA$550.02m
Other Expenses	CA$369.36m
Earnings	CA$180.66m

Last Reported Earnings

Sep 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	3.01
Gross Margin	86.04%
Net Profit Margin	28.26%
Debt/Equity Ratio	6,645.5%

How did FN perform over the long term?

See historical performance and comparison

Dividends

5.7%

Current Dividend Yield

81%

Payout Ratio

Does FN pay a reliable dividends?

See FN dividend history and benchmarks

When do you need to buy FN by to receive an upcoming dividend?
First National Financial dividend dates
Ex Dividend Date	Nov 29 2024
Dividend Pay Date	Dec 13 2024
Days until Ex dividend	11 days
Days until Dividend pay date	25 days

Does FN pay a reliable dividends?

See FN dividend history and benchmarks

FN Stock Overview

Rewards

Risk Analysis

First National Financial Corporation Competitors

TSX:MKP

CA$756.0m

TSX:AI

CA$525.9m

TSX:TF

CA$645.8m

TSX:FC

CA$419.9m

Price History & Performance

Recent News & Updates

Co-Founder & Executive Chairman recently bought CA$4.7m worth of stock

First National Financial Corporation Announces Dividend for the Month of November 2024, Payable on December 13, 2024

Consensus EPS estimates fall by 10%

Third quarter 2024 earnings: EPS and revenues miss analyst expectations

First National Financial Corporation Announces Special Dividend, Payable on December 13, 2024

Dividend of CA$0.20 announced

Recent updates

Co-Founder & Executive Chairman recently bought CA$4.7m worth of stock

First National Financial Corporation Announces Dividend for the Month of November 2024, Payable on December 13, 2024

Consensus EPS estimates fall by 10%

Third quarter 2024 earnings: EPS and revenues miss analyst expectations

First National Financial Corporation Announces Special Dividend, Payable on December 13, 2024

Dividend of CA$0.20 announced

First National Financial Corporation Announces October 2024 Dividend, Payable on November 15, 2024

Co-Founder & Executive Chairman recently bought CA$1.0m worth of stock

First National Financial Corporation to Report Q3, 2024 Results on Oct 29, 2024

Co-Founder & Executive Chairman recently bought CA$650k worth of stock

Dividend of CA$0.20 announced

First National Financial Corporation Announces Monthly Dividend on Common Share for the Period September 1 to September 30, 2024, Payable on October 15, 2024

Dividend of CA$0.20 announced

First National Financial Corporation Announces its Monthly Dividend Payment for the Period August 1 to August 31, 2024, Payable on September 16, 2024

Second quarter 2024 earnings: EPS and revenues miss analyst expectations

Dividend of CA$0.20 announced

Insufficient Growth At First National Financial Corporation (TSE:FN) Hampers Share Price

Co-Founder & Executive Chairman recently bought CA$1.5m worth of stock

First National Financial Corporation to Report Q2, 2024 Results on Jul 30, 2024

First National Financial (TSE:FN) Will Pay A Dividend Of CA$0.2042

Dividend of CA$0.20 announced

First National Financial Corporation Announces Monthly Dividend Payment for the Period June 1 to June 30, 2024, Payable on July 15, 2024

Dividend of CA$0.20 announced

First National Financial Corporation Announces Dividend for the Month Ended May 31, 2024, Payable on June 14, 2024

Independent Director recently bought CA$368k worth of stock

New major risk - Revenue and earnings growth

First quarter 2024 earnings: EPS and revenues miss analyst expectations

First National Financial (TSE:FN) Is Paying Out A Dividend Of CA$0.2042

Upcoming dividend of CA$0.20 per share

Dividend of CA$0.20 announced

First National Financial Corporation Announces Dividend for the Month Ended April 30, 2024, Payable on May 15, 2024

First National Financial Corporation to Report Q1, 2024 Results on Apr 30, 2024

First National Financial (TSE:FN) Is Paying Out A Dividend Of CA$0.2042

First National Financial Corporation announced that it expects to receive CAD 199.999998 million in funding

Dividend of CA$0.20 announced

Full year 2023 earnings: EPS misses analyst expectations

Upcoming dividend of CA$0.20 per share

Dividend of CA$0.20 announced

First National Financial Corporation, Annual General Meeting, May 02, 2024

Co-Founder & Executive Chairman recently bought CA$1.0m worth of stock

Upcoming dividend of CA$0.20 per share at 6.1% yield

First National Financial's (TSE:FN) Dividend Will Be CA$0.2042

Dividend of CA$0.20 announced

First National Financial Corporation Announces January Month Dividend, Payable on February 15, 2024

First National Financial Corporation to Report Q4, 2023 Results on Mar 05, 2024

Co-Founder & Executive Chairman recently bought CA$1.3m worth of stock

First National Financial Corporation Announces December Month Dividend, Payable on January 15, 2024

Co-Founder & Executive Chairman recently bought CA$2.0m worth of stock

Upcoming dividend of CA$0.95 per share at 6.4% yield

First National Financial's (TSE:FN) Shareholders Will Receive A Bigger Dividend Than Last Year

Co-Founder & Executive Chairman recently bought CA$4.9m worth of stock

First National Financial (TSE:FN) Is Increasing Its Dividend To CA$0.75

First National Financial Corporation Announces Special Dividend, Payable on December 15, 2023

Co-Founder & Executive Chairman recently bought CA$9.8m worth of stock

Upcoming dividend of CA$0.20 per share at 7.1% yield

First National Financial (TSE:FN) Has Affirmed Its Dividend Of CA$0.20

First National Financial Corporation Announces Dividend for the Period October 1 to October 31, 2023, Payable on November 15, 2023

Co-Founder & Executive Chairman recently bought CA$1.4m worth of stock

First National Financial (TSE:FN) Is Paying Out A Dividend Of CA$0.20