Timbercreek Financial Corp., a mortgage investment company, provides shorter-duration structured financing solutions to commercial real estate investors in Canada.
Questionable track record unattractive dividend payer.
Share Price & News
How has Timbercreek Financial's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: TF's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: TF underperformed the Canadian Mortgage industry which returned -21.5% over the past year.
Return vs Market: TF matched the Canadian Market which returned -23.7% over the past year.
Price Volatility Vs. Market
How volatile is Timbercreek Financial's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall StA Sliding Share Price Has Us Looking At Timbercreek Financial Corp.'s (TSE:TF) P/E Ratio
1 month ago | Simply Wall StHere's Why We're Wary Of Buying Timbercreek Financial Corporation's (TSE:TF) For Its Upcoming Dividend
1 month ago | Simply Wall StIs Timbercreek Financial Corporation (TSE:TF) A Strong Dividend Stock?
Is Timbercreek Financial undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: TF (CA$7.09) is trading below our estimate of fair value (CA$7.31)
Significantly Below Fair Value: TF is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: TF is poor value based on its PE Ratio (10.7x) compared to the Mortgage industry average (6.7x).
PE vs Market: TF is poor value based on its PE Ratio (10.7x) compared to the Canadian market (10.4x).
Price to Earnings Growth Ratio
PEG Ratio: TF's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: TF is overvalued based on its PB Ratio (0.8x) compared to the CA Mortgage industry average (0.7x).
How is Timbercreek Financial forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: TF's earnings are forecast to decline over the next 3 years (-1.6% per year).
Earnings vs Market: TF's earnings are forecast to decline over the next 3 years (-1.6% per year).
High Growth Earnings: TF's earnings are forecast to decline over the next 3 years.
Revenue vs Market: TF's revenue (17% per year) is forecast to grow faster than the Canadian market (3.7% per year).
High Growth Revenue: TF's revenue (17% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: TF's Return on Equity is forecast to be low in 3 years time (7.6%).
How has Timbercreek Financial performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: TF has high quality earnings.
Growing Profit Margin: TF's current net profit margins (77.9%) are lower than last year (78.7%).
Past Earnings Growth Analysis
Earnings Trend: TF's earnings have grown by 16.4% per year over the past 5 years.
Accelerating Growth: TF's earnings growth over the past year (3.2%) is below its 5-year average (16.4% per year).
Earnings vs Industry: TF earnings growth over the past year (3.2%) underperformed the Mortgage industry 12.7%.
Return on Equity
High ROE: TF's Return on Equity (7.5%) is considered low.
How is Timbercreek Financial's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Inventory Level: TF has a low level of unsold assets or inventory.
Debt Coverage by Assets: TF's debt is covered by short term assets (assets are 1.6x debt).
Financial Institutions Analysis
Asset Level: TF's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if TF has a sufficient allowance for bad loans.
Low Risk Liabilities: TF reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if TF has an acceptable proportion of non-loan assets held.
Low Risk Deposits: TF has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if TF has an appropriate level of bad loans.
What is Timbercreek Financial's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: TF's dividend (9.73%) is higher than the bottom 25% of dividend payers in the Canadian market (2.69%).
High Dividend: TF's dividend (9.73%) is in the top 25% of dividend payers in the Canadian market (8.66%)
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, TF has been paying a dividend for less than 10 years.
Growing Dividend: TF's dividend payments have increased, but the company has only paid a dividend for 4 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (104.2%), TF's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: TF's dividends in 3 years are not forecast to be well covered by earnings (99.4% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Mr. Cameron Goodnough, also known as Cam, is the Chief Executive Officer of Timbercreek Financial Corporation since January 1, 2018 and has been its Director since November 7, 2018. Mr. Goodnough has been ...
CEO Compensation Analysis
Compensation vs Market: Cam's total compensation ($USD231.49K) is below average for companies of similar size in the Canadian market ($USD1.22M).
Compensation vs Earnings: Cam's compensation has been consistent with company performance over the past year.
|CEO, President & Non-Independent Director||2.25yrs||CA$328.13k||0.0043% CA$25.2k|
|Chief Financial Officer||2.42yrs||CA$120.00k||0.0025% CA$14.8k|
|Managing Director of Global Debt Investments||1.25yrs||no data||0.0036% CA$21.3k|
|VP & Corporate Secretary||no data||no data||no data|
|Executive Director & Head of Origination - Canada||1.25yrs||no data||no data|
Experienced Management: TF's management team is considered experienced (2.3 years average tenure).
|CEO, President & Non-Independent Director||2.25yrs||CA$328.13k||0.0043% CA$25.2k|
|Independent Director||3.83yrs||CA$64.20k||0.055% CA$325.7k|
|Independent Director||3.83yrs||CA$46.58k||0.042% CA$249.0k|
|Non-Independent Director||3.83yrs||CA$149.76k||0.055% CA$325.0k|
|Lead Independent Director||no data||CA$67.66k||0.015% CA$89.8k|
|Non-Independent Chairman||3.83yrs||CA$120.00k||0.075% CA$445.1k|
|Independent Director||1.25yrs||no data||0.0068% CA$40.4k|
|Independent Director||3.83yrs||CA$61.72k||0.052% CA$310.2k|
Experienced Board: TF's board of directors are considered experienced (3.8 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: TF insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 4.2%.
Timbercreek Financial Corp.'s company bio, employee growth, exchange listings and data sources
- Name: Timbercreek Financial Corp.
- Ticker: TF
- Exchange: TSX
- Founded: 2016
- Industry: Thrifts and Mortgage Finance
- Sector: Banks
- Market Cap: CA$591.107m
- Shares outstanding: 83.37m
- Website: https://www.timbercreekfinancial.com
- Timbercreek Financial Corp.
- 25 Price Street
- M4W 1Z1
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|TF||TSX (The Toronto Stock Exchange)||Yes||Common Shares||CA||CAD||Jul 2016|
Timbercreek Financial Corp., a mortgage investment company, provides shorter-duration structured financing solutions to commercial real estate investors in Canada. It focuses on lending against income-producing commercial real estate properties, such as multi-residential, office, and retail buildings located in urban markets. The company was founded in 2016 and is headquartered in Toronto, Canada.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/04/01 14:54|
|End of Day Share Price||2020/03/31 00:00|
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.