CIX Stock Overview
CI Financial Corp. is a publicly owned asset management holding company.
CI Financial Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||CA$29.39|
|52 Week High||CA$30.88|
|52 Week Low||CA$14.91|
|1 Month Change||3.05%|
|3 Month Change||19.72%|
|1 Year Change||68.42%|
|3 Year Change||46.07%|
|5 Year Change||8.85%|
|Change since IPO||2,311.49%|
Recent News & Updates
CI Financial (TSE:CIX) Has Announced A Dividend Of CA$0.18
The board of CI Financial Corp. ( TSE:CIX ) has announced that it will pay a dividend on the 14th of January, with...
|CIX||CA Capital Markets||CA Market|
Return vs Industry: CIX exceeded the Canadian Capital Markets industry which returned 46.8% over the past year.
Return vs Market: CIX exceeded the Canadian Market which returned 22.1% over the past year.
|CIX Average Weekly Movement||2.9%|
|Capital Markets Industry Average Movement||5.0%|
|Market Average Movement||9.4%|
|10% most volatile stocks in CA Market||17.1%|
|10% least volatile stocks in CA Market||3.5%|
Stable Share Price: CIX is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: CIX's weekly volatility (3%) has been stable over the past year.
About the Company
CI Financial Corp. is a publicly owned asset management holding company. Through its subsidiaries, the firm manages separate client focused equity, fixed income, and alternative investments portfolios. It also manages mutual funds, hedge funds, and fund of funds for its clients through its subsidiaries.
CI Financial Fundamentals Summary
|CIX fundamental statistics|
Is CIX overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|CIX income statement (TTM)|
|Cost of Revenue||CA$943.36m|
Last Reported Earnings
Sep 30, 2021
Next Earnings Date
|Earnings per share (EPS)||1.99|
|Net Profit Margin||15.44%|
How did CIX perform over the long term?See historical performance and comparison
2.4%Current Dividend Yield
Does CIX pay a reliable dividends?See CIX dividend history and benchmarks
|CI Financial dividend dates|
|Ex Dividend Date||Dec 30 2021|
|Dividend Pay Date||Jan 14 2022|
|Days until Ex dividend||31 days|
|Days until Dividend pay date||46 days|
Does CIX pay a reliable dividends?See CIX dividend history and benchmarks
Is CI 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: CIX (CA$29.39) is trading below our estimate of fair value (CA$42.52)
Significantly Below Fair Value: CIX is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: CIX is poor value based on its PE Ratio (14.8x) compared to the Canadian Capital Markets industry average (8.2x).
PE vs Market: CIX is poor value based on its PE Ratio (14.8x) compared to the Canadian market (12.5x).
Price to Earnings Growth Ratio
PEG Ratio: CIX is good value based on its PEG Ratio (0.5x)
Price to Book Ratio
PB vs Industry: CIX is overvalued based on its PB Ratio (3.8x) compared to the CA Capital Markets industry average (1.8x).
How is CI Financial forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CIX's forecast earnings growth (28.2% per year) is above the savings rate (1.6%).
Earnings vs Market: CIX's earnings (28.2% per year) are forecast to grow faster than the Canadian market (10.6% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: CIX's revenue (12.4% per year) is forecast to grow faster than the Canadian market (5.6% per year).
High Growth Revenue: CIX's revenue (12.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: CIX's Return on Equity is forecast to be high in 3 years time (32.1%)
How has CI Financial performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CIX has a large one-off loss of CA$152.3M impacting its September 30 2021 financial results.
Growing Profit Margin: CIX's current net profit margins (15.4%) are lower than last year (25.7%).
Past Earnings Growth Analysis
Earnings Trend: CIX's earnings have declined by 2.9% per year over the past 5 years.
Accelerating Growth: CIX's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: CIX had negative earnings growth (-24.7%) over the past year, making it difficult to compare to the Capital Markets industry average (32.3%).
Return on Equity
High ROE: Whilst CIX's Return on Equity (25.15%) is high, this metric is skewed due to their high level of debt.
How is CI Financial's financial position?
Financial Position Analysis
Short Term Liabilities: CIX's short term assets (CA$2.3B) exceed its short term liabilities (CA$2.1B).
Long Term Liabilities: CIX's short term assets (CA$2.3B) do not cover its long term liabilities (CA$4.1B).
Debt to Equity History and Analysis
Debt Level: CIX's net debt to equity ratio (166.9%) is considered high.
Reducing Debt: CIX's debt to equity ratio has increased from 37.9% to 217.4% over the past 5 years.
Debt Coverage: CIX's debt is not well covered by operating cash flow (17%).
Interest Coverage: CIX's interest payments on its debt are well covered by EBIT (9.2x coverage).
What is CI Financial current dividend yield, its reliability and sustainability?
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: CIX's dividend (2.45%) is higher than the bottom 25% of dividend payers in the Canadian market (1.59%).
High Dividend: CIX's dividend (2.45%) is low compared to the top 25% of dividend payers in the Canadian market (4.6%).
Stability and Growth of Payments
Stable Dividend: CIX's dividend payments have been volatile in the past 10 years.
Growing Dividend: CIX's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (37.7%), CIX's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: CIX's dividends in 3 years are forecast to be well covered by earnings (18.6% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Kurt MacAlpine (39 yo)
Mr. Kurt MacAlpine serves as Chief Executive Officer and Director of CI Financial Corp. since September 1, 2019. Mr. MacAlpine is Executive Vice President and Chief Distribution Officer at WisdomTree Inves...
CEO Compensation Analysis
Compensation vs Market: Kurt's total compensation ($USD4.70M) is above average for companies of similar size in the Canadian market ($USD2.75M).
Compensation vs Earnings: Kurt's compensation has been consistent with company performance over the past year.
Experienced Management: CIX's management team is not considered experienced ( 1.6 years average tenure), which suggests a new team.
Experienced Board: CIX's board of directors are considered experienced (3.4 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: CIX insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
CI Financial Corp.'s employee growth, exchange listings and data sources
- Name: CI Financial Corp.
- Ticker: CIX
- Exchange: TSX
- Founded: 1965
- Industry: Asset Management and Custody Banks
- Sector: Diversified Financials
- Market Cap: CA$5.780b
- Shares outstanding: 196.66m
- Website: https://www.cifinancial.com
Number of Employees
- CI Financial Corp.
- 15 York Street,
- Second Floor
- M5J 0A3
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/11/27 23:06|
|End of Day Share Price||2021/11/26 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.