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NFI Group

TSX:NFI
Snowflake Description

Good value with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NFI
TSX
CA$2B
Market Cap
  1. Home
  2. CA
  3. Capital Goods
Company description

NFI Group Inc., together with its subsidiaries, manufactures heavy-duty transit buses, medium-duty buses, low-floor cutaway buses, and motor coaches in the United States and Canada. The last earnings update was 16 days ago. More info.


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NFI Share Price and Events
7 Day Returns
-0.5%
TSX:NFI
3.3%
CA Machinery
0.6%
CA Market
1 Year Returns
-42.5%
TSX:NFI
-19.1%
CA Machinery
-1.2%
CA Market
NFI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
NFI Group (NFI) -0.5% -0.8% -12.2% -42.5% -22.3% 159.1%
CA Machinery 3.3% 1.8% 3.3% -19.1% 14.7% 1.4%
CA Market 0.6% -1.6% 1.6% -1.2% 12.2% 5.5%
1 Year Return vs Industry and Market
  • NFI underperformed the Machinery industry which returned -19.1% over the past year.
  • NFI underperformed the Market in Canada which returned -1.2% over the past year.
Price Volatility
NFI
Industry
5yr Volatility vs Market

NFI Value

 Is NFI Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of NFI Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for NFI Group.

TSX:NFI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.5%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:NFI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Machinery Unlevered Beta Simply Wall St/ S&P Global 0.99
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.985 (1 + (1- 26.5%) (56.85%))
1.266
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.27
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.266 * 5.96%)
9.49%

Discounted Cash Flow Calculation for TSX:NFI using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for NFI Group is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

TSX:NFI DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.49%)
2019 157.19 Analyst x6 143.56
2020 182.69 Analyst x6 152.39
2021 172.00 Analyst x1 131.03
2022 165.75 Est @ -3.64% 115.32
2023 162.49 Est @ -1.96% 103.26
2024 161.21 Est @ -0.79% 93.56
2025 161.26 Est @ 0.03% 85.48
2026 162.24 Est @ 0.61% 78.54
2027 163.88 Est @ 1.01% 72.46
2028 165.99 Est @ 1.29% 67.03
Present value of next 10 years cash flows $1,042.64
TSX:NFI DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $165.99 × (1 + 1.95%) ÷ (9.49% – 1.95%)
$2,242.95
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $2,242.95 ÷ (1 + 9.49%)10
$905.75
TSX:NFI Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,042.64 + $905.75
$1,948.39
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,948.39 / 60.86
$32.01
TSX:NFI Discount to Share Price
Calculation Result
Exchange Rate USD/CAD
(Reporting currency to currency of TSX:NFI)
1.347
Value per Share
(CAD)
= Value per Share in USD x Exchange Rate (USD/CAD)
= $32.01 x 1.347
CA$43.11
Value per share (CAD) From above. CA$43.11
Current discount Discount to share price of CA$31.77
= -1 x (CA$31.77 - CA$43.11) / CA$43.11
26.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price NFI Group is available for.
Intrinsic value
26%
Share price is CA$31.77 vs Future cash flow value of CA$43.11
Current Discount Checks
For NFI Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • NFI Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • NFI Group's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for NFI Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are NFI Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:NFI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $2.35
TSX:NFI Share Price ** TSX (2019-05-23) in CAD CA$31.77
TSX:NFI Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.743 $23.59
Canada Machinery Industry PE Ratio Median Figure of 10 Publicly-Listed Machinery Companies 19.66x
Canada Market PE Ratio Median Figure of 542 Publicly-Listed Companies 15.02x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of NFI Group.

TSX:NFI PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:NFI Share Price ÷ EPS (both in USD)

= 23.59 ÷ 2.35

10.02x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • NFI Group is good value based on earnings compared to the CA Machinery industry average.
  • NFI Group is good value based on earnings compared to the Canada market.
Price based on expected Growth
Does NFI Group's expected growth come at a high price?
Raw Data
TSX:NFI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.02x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
7.2%per year
North America Machinery Industry PEG Ratio Median Figure of 86 Publicly-Listed Machinery Companies 1.46x
Canada Market PEG Ratio Median Figure of 249 Publicly-Listed Companies 1.17x

*Line of best fit is calculated by linear regression .

TSX:NFI PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.02x ÷ 7.2%

1.39x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • NFI Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on NFI Group's assets?
Raw Data
TSX:NFI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $12.93
TSX:NFI Share Price * TSX (2019-05-23) in CAD CA$31.77
TSX:NFI Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.743 $23.59
Canada Machinery Industry PB Ratio Median Figure of 23 Publicly-Listed Machinery Companies 2.36x
Canada Market PB Ratio Median Figure of 2,403 Publicly-Listed Companies 1.44x
TSX:NFI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:NFI Share Price ÷ Book Value per Share (both in USD)

= 23.59 ÷ 12.93

1.82x

* Primary Listing of NFI Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • NFI Group is good value based on assets compared to the CA Machinery industry average.
X
Value checks
We assess NFI Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Machinery industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Machinery industry average (and greater than 0)? (1 check)
  5. NFI Group has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

NFI Future Performance

 How is NFI Group expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
7.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is NFI Group expected to grow at an attractive rate?
  • NFI Group's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
  • NFI Group's earnings growth is positive but not above the Canada market average.
  • NFI Group's revenue growth is positive but not above the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:NFI Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:NFI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 7.2%
TSX:NFI Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 1.1%
Canada Machinery Industry Earnings Growth Rate Market Cap Weighted Average 17.2%
Canada Machinery Industry Revenue Growth Rate Market Cap Weighted Average 6.7%
Canada Market Earnings Growth Rate Market Cap Weighted Average 14.3%
Canada Market Revenue Growth Rate Market Cap Weighted Average 6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:NFI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:NFI Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 2,599 1
2020-12-31 2,601 243 158 7
2019-12-31 2,576 217 144 7
TSX:NFI Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 2,507 151 146
2018-12-30 2,519 175 160
2018-09-30 2,512 115 193
2018-07-01 2,448 90 191
2018-04-01 2,388 99 184
2017-12-31 2,382 172 191
2017-10-01 2,350 199 157
2017-07-02 2,320 212 148
2017-04-02 2,293 212 140
2017-01-01 2,274 150 125
2016-10-02 2,071 140 97
2016-07-03 1,924 122 88
2016-04-03 1,712 41 66

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • NFI Group's earnings are expected to grow by 7.2% yearly, however this is not considered high growth (20% yearly).
  • NFI Group's revenue is expected to grow by 1.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:NFI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from NFI Group Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:NFI Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 2.39 2.39 2.39 1.00
2020-12-31 2.66 2.96 2.40 4.00
2019-12-31 2.34 2.46 2.24 4.00
TSX:NFI Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 2.35
2018-12-30 2.56
2018-09-30 3.09
2018-07-01 3.05
2018-04-01 2.93
2017-12-31 3.06
2017-10-01 2.53
2017-07-02 2.41
2017-04-02 2.31
2017-01-01 2.10
2016-10-02 1.68
2016-07-03 1.55
2016-04-03 1.18

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if NFI Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess NFI Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
NFI Group has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

NFI Past Performance

  How has NFI Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare NFI Group's growth in the last year to its industry (Machinery).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • NFI Group has delivered over 20% year on year earnings growth in the past 5 years.
  • NFI Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • NFI Group's 1-year earnings growth is negative, it can't be compared to the CA Machinery industry average.
Earnings and Revenue History
NFI Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from NFI Group Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:NFI Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 2,507.38 145.74 203.89
2018-12-30 2,519.02 159.94 204.08
2018-09-30 2,511.56 193.25 200.64
2018-07-01 2,447.94 190.79 199.60
2018-04-01 2,388.35 183.82 201.37
2017-12-31 2,381.86 191.37 195.96
2017-10-01 2,349.83 156.81 186.25
2017-07-02 2,319.59 148.23 181.60
2017-04-02 2,293.10 140.21 177.99
2017-01-01 2,274.18 124.89 185.89
2016-10-02 2,070.55 97.45 175.33
2016-07-03 1,923.75 88.00 156.38
2016-04-03 1,711.83 65.63 135.00
2015-12-27 1,538.90 53.89 103.90
2015-09-27 1,539.99 47.21 91.22
2015-06-28 1,536.06 40.90 86.25
2015-03-29 1,507.54 32.09 83.39
2014-12-28 1,451.10 26.72 81.29
2014-09-28 1,412.32 33.02 76.83
2014-06-29 1,358.06 30.61 74.44
2014-03-30 1,278.15 28.73 67.43
2013-12-29 1,199.42 26.76 63.55
2013-09-29 1,020.43 16.96 57.26
2013-06-30 922.34 10.65 50.84
2013-03-31 882.74 12.36 46.49
2012-12-30 865.25 9.29 43.09
2012-09-30 919.96 19.92 39.30
2012-07-01 940.85 33.47 41.88

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • NFI Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • NFI Group used its assets more efficiently than the CA Machinery industry average last year based on Return on Assets.
  • NFI Group has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess NFI Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Machinery industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
NFI Group has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

NFI Health

 How is NFI Group's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up NFI Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • NFI Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • NFI Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of NFI Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from NFI Group Company Filings, last reported 1 month ago.

TSX:NFI Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 787.24 816.30 9.64
2018-12-30 797.49 666.46 10.82
2018-09-30 813.40 645.24 1.63
2018-07-01 811.53 636.84 15.57
2018-04-01 784.94 636.51 15.29
2017-12-31 767.83 604.79
2017-10-01 712.85 490.12 15.41
2017-07-02 692.90 489.63 32.08
2017-04-02 659.57 513.02 25.98
2017-01-01 630.17 574.13 13.05
2016-10-02 583.16 583.39
2016-07-03 554.67 610.05 1.69
2016-04-03 536.54 687.00 39.80
2015-12-27 483.86 728.19 24.88
2015-09-27 474.13 256.28 6.51
2015-06-28 463.54 258.21 8.82
2015-03-29 457.29 220.72 7.55
2014-12-28 452.62 246.97 17.46
2014-09-28 452.30 251.91 8.66
2014-06-29 449.86 236.22 4.31
2014-03-30 453.57 234.00 14.18
2013-12-29 455.18 239.12 11.90
2013-09-29 447.54 216.10 13.52
2013-06-30 447.44 222.77 16.47
2013-03-31 391.18 232.13 6.63
2012-12-30 343.99 223.89 11.18
2012-09-30 345.59 200.63 3.07
2012-07-01 354.63 258.23 67.20
  • NFI Group's level of debt (103.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (51.6% vs 103.7% today).
  • Debt is not well covered by operating cash flow (18.5%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.6x coverage).
X
Financial health checks
We assess NFI Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. NFI Group has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

NFI Dividends

 What is NFI Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.34%
Current annual income from NFI Group dividends. Estimated to be 5.33% next year.
If you bought CA$2,000 of NFI Group shares you are expected to receive CA$107 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • NFI Group's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.03%).
  • NFI Group's dividend is below the markets top 25% of dividend payers in Canada (5.68%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:NFI Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
Canada Machinery Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 4.4%
Canada Market Average Dividend Yield Market Cap Weighted Average of 331 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.2%
Canada Bottom 25% Dividend Yield 25th Percentile 2%
Canada Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:NFI Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31 1.26 3.00
2019-12-31 1.25 3.00
TSX:NFI Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-15 1.260 5.234
2018-12-17 1.099 4.458
2018-09-17 1.116 3.574
2018-05-09 1.125 2.937
2018-03-15 0.993 2.225
2017-12-15 0.997 2.305
2017-11-08 1.009 2.548
2017-06-15 0.977 2.472
2017-05-10 0.947 2.335
2017-03-15 0.691 1.935
2016-12-15 0.701 2.252
2016-09-15 0.699 2.371
2016-05-12 0.718 2.301
2015-12-18 0.479 2.354
2015-12-15 0.445 2.285
2015-11-10 0.509 2.675
2015-10-15 0.466 3.174
2015-09-15 0.462 3.190
2015-07-15 0.467 3.482
2015-06-15 0.480 4.046
2015-05-15 0.494 4.007
2015-04-15 0.472 4.035
2015-03-16 0.458 4.118
2015-02-17 0.457 4.253
2015-01-15 0.461 4.360
2014-12-15 0.490 4.471
2014-11-17 0.503 4.590
2014-10-15 0.512 4.505
2014-09-15 0.518 4.474
2014-08-15 0.528 4.271
2014-07-15 0.533 4.478
2014-06-16 0.538 4.759
2014-04-15 0.530 4.924
2014-03-17 0.520 5.168
2014-02-18 0.525 5.194
2014-01-15 0.523 5.313
2013-12-16 0.535 5.501
2013-11-15 0.547 5.559
2013-10-15 0.557 5.329
2013-09-16 0.562 5.182
2013-08-15 0.555 5.360
2013-07-15 0.561 5.137
2013-06-17 0.553 5.416
2013-05-15 0.564 5.794
2013-04-15 0.569 5.991
2013-03-15 0.569 5.763
2013-02-15 0.568 5.701
2013-01-15 0.580 6.050
2012-12-17 0.587 6.736
2012-11-15 0.582 7.327
2012-10-15 0.583 7.514
2012-03-21 0.561 8.135
2012-03-15 0.866 10.684
2012-02-15 0.860 10.919
2012-01-16 0.845 12.786
2011-12-15 0.829 14.822
2011-11-15 0.820 14.994
2011-10-17 0.840 14.207
2011-09-15 0.810 13.912

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, NFI Group has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but NFI Group only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of NFI Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.1x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess NFI Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can NFI Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. NFI Group has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

NFI Management

 What is the CEO of NFI Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Paul Soubry
COMPENSATION $3,047,573
AGE 55
TENURE AS CEO 10.3 years
CEO Bio

Mr. Paul Soubry, Jr., ICD.D, has been the Chief Executive Officer and President of New Flyer Industries Inc. and New Flyer Holdings, Inc. since January 19, 2009. He has been the Chief Executive Officer and President at Motor Coach Industries International, Inc. since December 18, 2015. Mr. Soubry serves as the President and Chief Executive Officer of New Flyer Industries Inc. at New Flyer of America, Inc. He has been Chief Executive Officer, President, and Director of New Flyer Industries Inc. at New Flyer Industries Canada ULC since January 19, 2009. He serves as Chief Executive Officer and President of NFI ULC. He serves as Chief Executive Officer and President of New Flyer Holdings, Inc. Mr. Soubry has deep knowledge and operational expertise in the transportation maintenance and services sector. He served as the President of Standard Aero Limited from 2005 to 2008, Chief Executive Officer from 2007 to August 2008, Chief Operating Officer from 2005 to 2007 and in other senior executive capacities from 1991 to 2005. He served as President of Aviation MRO Services of Standard Aero Holdings, Inc. since December 2004. He served as the President of Aviation Maintenance Repair and Overhaul operations (MRO) Services of Standard Aero Holdings, Inc. since December 2004. He served as the Chief Operating Officer of Standard Aero Holdings, Inc. since November 2006. He served as the Head of global Maintenance, Repair and Overhaul operations of StandardAero Business Aviation Services, LLC (Standard Aero Ltd). Mr. Soubry joined Standard Aero Ltd., a subsidiary of Dunlop Standard Aerospace Group (formerly Dunlop Standard Aerospace Holdings PLC) in 1985 as Manager. Since 1989, he served as the Vice-President of Sales and Marketing at Standard Aero Ltd. and served as President of Standard Aero Canadian Operations of Dunlop Standard Aerospace Holdings PLC from March 2001. He served as President of Standard Aero Commercial Aviation Services since January 2004. He serves as a Director of New Flyer Industries Canada ULC. Mr. Soubry has been a Nominee Director of Winnipeg Airports Authority Inc., since February 2011. He has been Non-Independent Director at New Flyer Industries Inc. since May 11, 2009. He serves as a Director of New Flyer Holdings, Inc. and New Flyer of America Inc. (NFAI ). He serves as Board of the Mondetta Clothing Company, The Smartpark Development Corporation, the Associates of the I.H. Asper School of Business at the University of Manitoba and Destination Winnipeg. In 2003, he was named one of the recipients of Canada's Top 40 under 40 award. He is a member of the Institute of Corporate Directors and serves as Directors Education Program. Mr. Soubry holds a Bachelor of Commerce (Honours) degree from the University of Manitoba and completed the executive development program at Harvard Business School.

CEO Compensation
  • Paul's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Paul's remuneration is about average for companies of similar size in Canada.
Management Team Tenure

Average tenure of the NFI Group management team in years:

10
Average Tenure
  • The average tenure for the NFI Group management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Paul Soubry

TITLE
President
COMPENSATION
$3M
AGE
55
TENURE
10.3 yrs

Glenn Asham

TITLE
Executive VP of Finance
COMPENSATION
$999K
TENURE
14.3 yrs

Ian Smart

TITLE
President of Motor Coach Business
COMPENSATION
$1M
TENURE
7.6 yrs

Brian Dewsnup

TITLE
President of Parts Business
COMPENSATION
$1M
TENURE
2.3 yrs

Wayne Joseph

TITLE
COMPENSATION
$2M
TENURE
0.3 yrs

Stephen King

TITLE
Group Director of Corporate Development & Investor Relations
TENURE
0.8 yrs

Colin Pewarchuk

TITLE
Executive VP
TENURE
13.3 yrs

Paul Smith

TITLE
Executive Vice President of Sales
COMPENSATION
$649K
TENURE
19.3 yrs

Janice Harper

TITLE
Executive Vice President of Human Resources
TENURE
9.6 yrs

David White

TITLE
Executive Vice President of Supply Management
COMPENSATION
$1M
TENURE
13.3 yrs
Board of Directors Tenure

Average tenure and age of the NFI Group board of directors in years:

7
Average Tenure
63
Average Age
  • The tenure for the NFI Group board of directors is about average.
Board of Directors

Brian Tobin

TITLE
Chairperson of the Board
COMPENSATION
$409K
AGE
63

Paul Soubry

TITLE
President
COMPENSATION
$3M
AGE
55
TENURE
10 yrs

Phyllis Cochran

TITLE
Independent Director
COMPENSATION
$266K
AGE
66
TENURE
4 yrs

John Marinucci

TITLE
Independent Director
COMPENSATION
$246K
AGE
61
TENURE
13.9 yrs

Larry Edwards

TITLE
Independent Director
COMPENSATION
$246K
AGE
68
TENURE
10.7 yrs

Adam Gray

TITLE
Independent Director
COMPENSATION
$246K
AGE
53
TENURE
7 yrs

Krystyna Hoeg

TITLE
Independent Director
COMPENSATION
$246K
AGE
68
TENURE
4 yrs

Paulo da Silva Nunes

TITLE
Independent Director
COMPENSATION
$246K
AGE
65
TENURE
3.8 yrs

Katherine Winter

TITLE
Independent Director
AGE
55
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by NFI Group insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
26. Mar 19 Sell Vincent Sardo Individual 26. Mar 19 26. Mar 19 -2,000 CA$32.40 CA$-64,800
19. Mar 19 Buy Alexander Kirshner Individual 18. Mar 19 18. Mar 19 6,600 CA$30.20 CA$199,320
18. Mar 19 Sell Brian Tobin Individual 18. Mar 19 18. Mar 19 -1,650 CA$30.18 CA$-49,795
28. Dec 18 Sell Vincent Sardo Individual 28. Dec 18 28. Dec 18 -2,000 CA$33.15 CA$-66,285
26. Dec 18 Buy Coliseum Capital Management, LLC Company 21. Dec 18 21. Dec 18 48,500 CA$32.46 CA$1,574,310
18. Dec 18 Buy Janice Harper Individual 18. Dec 18 18. Dec 18 2,000 CA$33.96 CA$67,920
17. Dec 18 Buy Ian Smart Individual 14. Dec 18 14. Dec 18 1,727 CA$34.75 CA$60,013
17. Dec 18 Buy John Marinucci Individual 11. Dec 18 11. Dec 18 3,000 CA$33.95 CA$101,850
13. Dec 18 Buy Steven Young Individual 12. Dec 18 12. Dec 18 600 CA$34.65 CA$20,790
13. Dec 18 Buy Coliseum Capital Management, LLC Company 07. Dec 18 10. Dec 18 160,000 CA$34.99 CA$5,523,016
11. Dec 18 Buy Paul Soubry Individual 10. Dec 18 10. Dec 18 5,000 CA$33.29 CA$166,431
11. Dec 18 Buy Larry Edwards Individual 11. Dec 18 11. Dec 18 5,000 CA$34.17 CA$170,835
07. Dec 18 Buy Coliseum Capital Management, LLC Company 04. Dec 18 06. Dec 18 510,400 CA$36.91 CA$18,769,438
04. Dec 18 Buy Ian Smart Individual 04. Dec 18 04. Dec 18 2,750 CA$37.00 CA$101,750
19. Nov 18 Buy Coliseum Capital Management, LLC Company 14. Nov 18 14. Nov 18 100,000 CA$37.00 CA$3,700,000
15. Nov 18 Buy John Marinucci Individual 15. Nov 18 15. Nov 18 5,000 CA$36.98 CA$184,897
13. Nov 18 Buy Steven Young Individual 13. Nov 18 13. Nov 18 700 CA$37.25 CA$25,861
27. Sep 18 Sell John Marinucci Individual 26. Sep 18 26. Sep 18 -7,500 CA$51.69 CA$-387,596
27. Jun 18 Sell Vincent Sardo Individual 27. Jun 18 27. Jun 18 -1,500 CA$48.06 CA$-72,090
03. Jul 18 Buy Paul Alexander Individual 29. Jun 18 29. Jun 18 200 CA$37.29 CA$7,457
03. Jul 18 Buy Steven Young Individual 28. Jun 18 28. Jun 18 300 CA$49.00 CA$14,700
X
Management checks
We assess NFI Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. NFI Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

NFI News

Simply Wall St News

Is NFI Group Inc.'s (TSE:NFI) P/E Ratio Really That Good?

NFI Group has a price to earnings ratio of 10.14, based on the last twelve months. … The formula for price to earnings is: Price to Earnings Ratio = Price per Share (in the reporting currency) ÷ Earnings per Share (EPS) Or for NFI Group: P/E of 10.14 = $23.86 (Note: this is the share price in the reporting currency, namely, USD ) ÷ $2.35 (Based on the year to March 2019.) Is A High Price-to-Earnings Ratio Good? … Hypothetically, a company could reduce its future P/E ratio by spending its cash (or taking on debt) to achieve higher earnings.

Simply Wall St -

Is NFI Group Inc.’s (TSE:NFI) 15% ROCE Any Good?

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … What is Return On Capital Employed (ROCE)? … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.

Simply Wall St -

Are Investors Undervaluing NFI Group Inc. (TSE:NFI) By 50%?

by estimating the company's future cash flows and discounting them to their present value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model. … The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period.

Simply Wall St -

Why NFI Group Inc. (TSE:NFI) Looks Like A Quality Company

This article is for those who would like to learn about Return On Equity (ROE). … That means that for every CA$1 worth of shareholders' equity, it generated CA$0.20 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Why NFI Group Inc.'s (TSE:NFI) CEO Pay Matters To You

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Paul Soubry's Compensation Compare With Similar Sized Companies. … is worth CA$2.0b, and total annual CEO compensation is US$3.1m.

Simply Wall St -

What You Should Know About NFI Group Inc.'s (TSE:NFI) Financial Strength

(TSE:NFI) with its market cap of CA$2.0b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … Evaluating financial health as part of your investment thesis is. … We'll look at some basic checks that can form a snapshot the company’s financial strength.

Simply Wall St -

Is NFI Group Inc. (TSE:NFI) A Smart Pick For Income Investors?

A large part of investment returns can be generated by dividend-paying stock given their role in compounding returns over time. … (TSE:NFI) has been paying a dividend to shareholders. … 5 questions to ask before buying a dividend stock

Simply Wall St -

The NFI Group Share Price Is Up 209% And Shareholders Are Boasting About It

(TSE:NFI) which saw its share price drive 209% higher over five years. … During five years of share price growth, NFI Group achieved compound earnings per share (EPS) growth of 55% per year. … The EPS growth is more impressive than the yearly share price gain of 25% over the same period.

Simply Wall St -

Do You Like NFI Group Inc. (TSE:NFI) At This P/E Ratio?

NFI Group has a price to earnings ratio of 8.84, based on the last twelve months. … Price to Earnings Ratio = Share Price (in reporting currency) ÷ Earnings per Share (EPS) … P/E of 8.84 = $27.3 (Note: this is the share price in the reporting currency, namely, USD ) ÷ $3.09

Simply Wall St -

A Look At NFI Group Inc.'s (TSE:NFI) Exceptional Fundamentals

Help shape the future of investing tools and you could win a $250 gift card! … As an investor, I look for investments which does not compromise one fundamental factor for another. … By this I mean, I look at stocks holistically, from their financial health to their future outlook.

Simply Wall St -

NFI Company Info

Description

NFI Group Inc., together with its subsidiaries, manufactures heavy-duty transit buses, medium-duty buses, low-floor cutaway buses, and motor coaches in the United States and Canada. The company operates through two segments, Manufacturing Operations and Aftermarket Operations. It also provides bus and coach parts and support services. NFI Group Inc. distributes its products under the New Flyer, MCI, ARBOC, and NFI Parts brands. The company was formerly known as New Flyer Industries Inc. and changed its name to NFI Group Inc. in May 2018. NFI Group Inc. was founded in 1930 and is headquartered in Winnipeg, Canada.

Details
Name: NFI Group Inc.
NFI
Exchange: TSX
Founded: 1930
CA$1,933,654,394
60,864,161
Website: http://www.nfigroup.com
Address: NFI Group Inc.
711 Kernaghan Avenue,
Winnipeg,
Manitoba, R2C 3T4,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX NFI Common Shares The Toronto Stock Exchange CA CAD 19. Aug 2011
OTCPK NFYE.F Common Shares Pink Sheets LLC US USD 19. Aug 2011
DB 9NF Common Shares Deutsche Boerse AG DE EUR 19. Aug 2011
Number of employees
Current staff
Staff numbers
6,000
NFI Group employees.
Industry
Construction Machinery and Heavy Trucks
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/24 00:23
End of day share price update: 2019/05/23 00:00
Last estimates confirmation: 2019/05/11
Last earnings filing: 2019/05/08
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.