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FDI

Findev TSXV:FDI Stock Report

Last Price

CA$0.42

Market Cap

CA$12.0m

7D

-8.7%

1Y

-14.3%

Updated

01 Oct, 2022

Data

Company Financials
FDI fundamental analysis
Snowflake Score
Valuation4/6
Future Growth0/6
Past Performance5/6
Financial Health1/6
Dividends3/6

FDI Stock Overview

Findev Inc., real estate finance company, provides real estate financing secured by investment properties and real estate developments in Canada.

Findev Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Findev
Historical stock prices
Current Share PriceCA$0.42
52 Week HighCA$0.54
52 Week LowCA$0.40
Beta0.42
1 Month Change-17.65%
3 Month Changen/a
1 Year Change-14.29%
3 Year Change-16.00%
5 Year Change-16.00%
Change since IPO-92.00%

Recent News & Updates

Jan 01
Findev (CVE:FDI) Has Announced A Dividend Of CA$0.0075

Findev (CVE:FDI) Has Announced A Dividend Of CA$0.0075

Findev Inc. ( CVE:FDI ) will pay a dividend of CA$0.0075 on the 15th of April. Based on this payment, the dividend...

Sep 30
Findev (CVE:FDI) Will Pay A Dividend Of CA$0.0075

Findev (CVE:FDI) Will Pay A Dividend Of CA$0.0075

Findev Inc. ( CVE:FDI ) will pay a dividend of CA$0.0075 on the 14th of January. This makes the dividend yield 6.1...

Jul 29
Findev's (CVE:FDI) Dividend Will Be CA$0.0075

Findev's (CVE:FDI) Dividend Will Be CA$0.0075

The board of Findev Inc. ( CVE:FDI ) has announced that it will pay a dividend of CA$0.0075 per share on the 15th of...

Jul 01
Findev (CVE:FDI) Is Due To Pay A Dividend Of CA$0.0075

Findev (CVE:FDI) Is Due To Pay A Dividend Of CA$0.0075

The board of Findev Inc. ( CVE:FDI ) has announced that it will pay a dividend of CA$0.0075 per share on the 15th of...

Shareholder Returns

FDICA MortgageCA Market
7D-8.7%-0.9%-0.008%
1Y-14.3%-28.1%-6.6%

Return vs Industry: FDI exceeded the Canadian Mortgage industry which returned -28.1% over the past year.

Return vs Market: FDI underperformed the Canadian Market which returned -6.6% over the past year.

Price Volatility

Is FDI's price volatile compared to industry and market?
FDI volatility
FDI Average Weekly Movementn/a
Mortgage Industry Average Movement2.9%
Market Average Movement9.9%
10% most volatile stocks in CA Market18.1%
10% least volatile stocks in CA Market3.8%

Stable Share Price: Insufficient data to determine FDI's volatility over the past 3 months.

Volatility Over Time: Insufficient data to determine FDI's volatility change over the past year.

About the Company

FoundedEmployeesCEOWebsite
n/an/aSruli Weinrebhttps://findev.ca

Findev Inc., real estate finance company, provides real estate financing secured by investment properties and real estate developments in Canada. It targets real estate projects that include condominiums, purpose-built rentals, townhouses, low-rise/subdivisions, and retail developments. The company was formerly known as TransGaming Inc. and changed its name to Findev Inc. in October 2016.

Findev Fundamentals Summary

How do Findev's earnings and revenue compare to its market cap?
FDI fundamental statistics
Market CapCA$12.03m
Earnings (TTM)CA$5.29m
Revenue (TTM)CA$2.88m

2.3x

P/E Ratio

0.5x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
FDI income statement (TTM)
RevenueCA$2.88m
Cost of RevenueCA$0
Gross ProfitCA$2.88m
Other Expenses-CA$2.41m
EarningsCA$5.29m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.18
Gross Margin100.00%
Net Profit Margin183.72%
Debt/Equity Ratio0.0%

How did FDI perform over the long term?

See historical performance and comparison

Dividends

7.1%

Current Dividend Yield

16%

Payout Ratio

Does FDI pay a reliable dividends?

See FDI dividend history and benchmarks
When do you need to buy FDI by to receive an upcoming dividend?
Findev dividend dates
Ex Dividend DateDec 28 2022
Dividend Pay DateJan 13 2023
Days until Ex dividend87 days
Days until Dividend pay date103 days

Does FDI pay a reliable dividends?

See FDI dividend history and benchmarks
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • 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 FDI?

Other financial metrics that can be useful for relative valuation.

FDI 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/Revenue4.1x
Enterprise Value/EBITDAn/a
PEG Ration/a

Price to Earnings Ratio vs Peers

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

FDI PE Ratio vs Peers
The above table shows the PE ratio for FDI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average10x
TII Terra Firma Capital
7.1xn/aCA$26.6m
MKP MCAN Mortgage
9.5x16.8%CA$462.2m
FC Firm Capital Mortgage Investment
12.7xn/aCA$397.3m
AI Atrium Mortgage Investment
10.8x2.8%CA$460.2m
FDI Findev
2.3xn/aCA$12.0m

Price-To-Earnings vs Peers: FDI is good value based on its Price-To-Earnings Ratio (2.3x) compared to the peer average (10x).


Price to Earnings Ratio vs Industry

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

Price-To-Earnings vs Industry: FDI is good value based on its Price-To-Earnings Ratio (2.3x) compared to the North American Mortgage industry average (11x)


Price to Earnings Ratio vs Fair Ratio

What is FDI'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.

FDI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio2.3x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate FDI's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

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

Below Fair Value: FDI (CA$0.42) is trading below our estimate of fair value (CA$1.68)

Significantly Below Fair Value: FDI 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: Insufficient data to show price forecast.


Discover undervalued companies

Future Growth

How is Findev forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


14.1%

Forecasted Banks industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Findev has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Discover growth companies

  • Examine whether Findev is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  • Findev competitive advantages and company strategy can generally be found in its financial reports archived here.

Past Performance

How has Findev performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


35.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: FDI has a high level of non-cash earnings.

Growing Profit Margin: FDI's current net profit margins are higher than last year (86.3%).


Past Earnings Growth Analysis

Earnings Trend: FDI's earnings have grown significantly by 35.4% per year over the past 5 years.

Accelerating Growth: FDI's earnings growth over the past year (145.2%) exceeds its 5-year average (35.4% per year).

Earnings vs Industry: FDI earnings growth over the past year (145.2%) exceeded the Mortgage industry 1.4%.


Return on Equity

High ROE: FDI's Return on Equity (22.4%) is considered high.


Discover strong past performing companies

Financial Health

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

Financial Health Score

1/6

Financial Health Score 1/6

  • 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: FDI's Assets to Equity ratio (1x) is low.

Allowance for Bad Loans: Insufficient data to determine if FDI has a sufficient allowance for bad loans.

Low Risk Liabilities: FDI reports no customer deposits, 100% of its liabilities are made up of higher risk sources of funding.

Loan Level: Insufficient data to determine if FDI has an appropriate level of Loans to Assets ratio.

Low Risk Deposits: FDI reports no customer deposits, loans are made up entirely of externally borrowed funds.

Level of Bad Loans: Insufficient data to determine if FDI has an appropriate level of bad loans.


Discover healthy companies

Dividend

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

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


7.14%

Current Dividend Yield

Upcoming Dividend Payment

TodayOct 01 2022Ex Dividend DateDec 28 2022Dividend Pay DateJan 13 202316 days from Ex DividendBuy in the next 87 days to receive the upcoming dividend

Dividend Yield vs Market

Findev Dividend Yield vs Market
How does Findev dividend yield compare to the market?
SegmentDividend Yield
Company (Findev)7.1%
Market Bottom 25% (CA)2.0%
Market Top 25% (CA)6.1%
Industry Average (Mortgage)5.3%
Analyst forecast in 3 Years (Findev)n/a

Notable Dividend: FDI's dividend (7.14%) is higher than the bottom 25% of dividend payers in the Canadian market (2.01%).

High Dividend: FDI's dividend (7.14%) is in the top 25% of dividend payers in the Canadian market (6.08%)


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, FDI has been paying a dividend for less than 10 years.

Growing Dividend: FDI has only been paying a dividend for 6 years, and since then payments have not increased.


Current Payout to Shareholders

Earnings Coverage: With its low payout ratio (16.3%), FDI's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years or that it will be covered by earnings.


Discover strong dividend paying companies

Management

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

6.0yrs

Average board tenure


CEO

Sruli Weinreb (42 yo)

6yrs

Tenure

CA$90,000

Compensation

Mr. Yisroel Weinreb, also known as Sruli, is the Founder and Managing Partner at Plaza Capital Ltd. He is the Co-Founder of Novamind Inc. and has served as its Director since December 22, 2020 and serves a...


CEO Compensation Analysis

Sruli Weinreb's Compensation vs Findev Earnings
How has Sruli Weinreb's remuneration changed compared to Findev's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

CA$5m

Mar 31 2022n/an/a

CA$5m

Dec 31 2021CA$90kCA$90k

CA$5m

Sep 30 2021n/an/a

CA$2m

Jun 30 2021n/an/a

CA$2m

Mar 31 2021n/an/a

CA$2m

Dec 31 2020CA$91kCA$90k

CA$2m

Sep 30 2020n/an/a

CA$2m

Jun 30 2020n/an/a

CA$2m

Mar 31 2020n/an/a

CA$2m

Dec 31 2019CA$90kCA$90k

CA$2m

Sep 30 2019n/an/a

CA$2m

Jun 30 2019n/an/a

CA$2m

Mar 31 2019n/an/a

CA$2m

Dec 31 2018CA$90kCA$90k

CA$2m

Sep 30 2018n/an/a

CA$1m

Jun 30 2018n/an/a

CA$1m

Mar 31 2018n/an/a

CA$1m

Dec 31 2017CA$90kCA$90k

CA$891k

Dec 31 2016CA$18kCA$18k

-CA$323k

Compensation vs Market: Sruli's total compensation ($USD65.55K) is below average for companies of similar size in the Canadian market ($USD176.17K).

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


Board Members

Experienced Board: FDI's board of directors are considered experienced (6 years average tenure).


Ownership

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.


Ownership Breakdown

What is the ownership structure of FDI?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders803,7382.8%
Private Companies1,988,5006.9%
General Public25,855,20390.3%

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


Top Shareholders

Top 6 shareholders own 9.75% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
6.94%
Plazacorp Holdings Limited
1,988,500CA$835.2k0%no data
1.23%
Anthony Heller
351,000CA$147.4k0%no data
0.59%
Brice Scheschuk
170,238CA$71.5k0%no data
0.58%
David Roff
166,666CA$70.0k0%no data
0.31%
Devon Cranson
88,334CA$37.1k0%no data
0.096%
Yisroel Weinreb
27,500CA$11.6k0%no data

Company Information

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


Key Information

  • Name: Findev Inc.
  • Ticker: FDI
  • Exchange: TSXV
  • Founded: NaN
  • Industry: Thrifts and Mortgage Finance
  • Sector: Banks
  • Implied Market Cap: CA$12.032m
  • Shares outstanding: 28.65m
  • Website: https://findev.ca

Location

  • Findev Inc.
  • 10 Wanless Avenue
  • Suite 201
  • Toronto
  • Ontario
  • Canada


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FDITSXV (TSX Venture Exchange)YesClass A Common SharesCACADNov 2005
TNSG.FOTCPK (Pink Sheets LLC)YesClass A Common SharesUSUSDNov 2005

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/01 00:00
End of Day Share Price2022/09/26 00:00
Earnings2022/06/30
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.