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goeasy

TSX:GSY
Snowflake Description

Exceptional growth potential established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GSY
TSX
CA$680M
Market Cap
  1. Home
  2. CA
  3. Diversified Financials
Company description

goeasy Ltd. provides loans and other financial services to consumers in Canada. The last earnings update was 72 days ago. More info.


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GSY Share Price and Events
7 Day Returns
1.7%
TSX:GSY
0.5%
CA Consumer Finance
0.8%
CA Market
1 Year Returns
25.8%
TSX:GSY
9.9%
CA Consumer Finance
4.2%
CA Market
GSY Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
goeasy (GSY) 1.7% 13.3% 19.9% 25.8% 148% 156.7%
CA Consumer Finance 0.5% 4.3% 8.1% 9.9% 68.8% 30.8%
CA Market 0.8% 3.3% 8.7% 4.2% 16% 7.3%
1 Year Return vs Industry and Market
  • GSY outperformed the Consumer Finance industry which returned 9.9% over the past year.
  • GSY outperformed the Market in Canada which returned 4.2% over the past year.
Price Volatility
GSY
Industry
5yr Volatility vs Market

Value

 Is goeasy 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 goeasy 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 goeasy.

TSX:GSY Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 4 analysts.
= Stable Book Value * Return on Equity
= CA$28.06 * 26.4%
CA$7.41
Book Value of Equity per Share Weighted future Book Value estimates from 4 analysts. CA$28.06
Discount Rate (Cost of Equity) See below 9.7%
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:GSY
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Consumer Finance Unlevered Beta Simply Wall St/ S&P Global 0.83
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.83 (1 + (1- 26.5%) (101.67%))
1.302
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.3
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.302 * 5.96%)
9.7%

Discounted Cash Flow Calculation for TSX:GSY using Excess Returns Model Model

The calculations below outline how an intrinsic value for goeasy is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

TSX:GSY Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (26.4% – 9.7%) * CA$28.06)
CA$4.69
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CA$4.69 / (9.7% - 1.95%)
CA$60.46
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CA$28.06 + CA$60.46
CA$88.51
TSX:GSY Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$88.51
Current discount Discount to share price of CA$46.90
= -1 x (CA$46.90 - CA$88.51) / CA$88.51
47%

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

Current Discount
Amount off the current price goeasy is available for.
Intrinsic value
47%
Share price is CA$46.9 vs Future cash flow value of CA$88.51
Current Discount Checks
For goeasy to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • goeasy's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • goeasy's share price is below the future cash flow value, and 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 goeasy's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are goeasy's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:GSY PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CAD CA$3.78
TSX:GSY Share Price ** TSX (2019-04-25) in CAD CA$46.9
North America Consumer Finance Industry PE Ratio Median Figure of 31 Publicly-Listed Consumer Finance Companies 9.88x
Canada Market PE Ratio Median Figure of 558 Publicly-Listed Companies 15.06x

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

** Primary Listing of goeasy.

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

= TSX:GSY Share Price ÷ EPS (both in CAD)

= 46.9 ÷ 3.78

12.4x

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

  • goeasy is overvalued based on earnings compared to the North America Consumer Finance industry average.
  • goeasy is good value based on earnings compared to the Canada market.
Price based on expected Growth
Does goeasy's expected growth come at a high price?
Raw Data
TSX:GSY PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.4x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
24.7%per year
North America Consumer Finance Industry PEG Ratio Median Figure of 25 Publicly-Listed Consumer Finance Companies 0.65x
Canada Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.21x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.4x ÷ 24.7%

0.5x

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

  • goeasy is good value based on expected growth next year.
Price based on value of assets
What value do investors place on goeasy's assets?
Raw Data
TSX:GSY PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CAD CA$20.93
TSX:GSY Share Price * TSX (2019-04-25) in CAD CA$46.9
Canada Consumer Finance Industry PB Ratio Median Figure of 6 Publicly-Listed Consumer Finance Companies 1.52x
Canada Market PB Ratio Median Figure of 2,382 Publicly-Listed Companies 1.48x
TSX:GSY PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:GSY Share Price ÷ Book Value per Share (both in CAD)

= 46.9 ÷ 20.93

2.24x

* Primary Listing of goeasy.

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

  • goeasy is overvalued based on assets compared to the CA Consumer Finance industry average.
X
Value checks
We assess goeasy'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 Consumer Finance 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 Consumer Finance industry average (and greater than 0)? (1 check)
  5. goeasy 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.

Future Performance

 How is goeasy expected to perform in the next 1 to 3 years based on estimates from 6 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
24.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is goeasy expected to grow at an attractive rate?
  • goeasy's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
  • goeasy's earnings growth is expected to exceed the Canada market average.
  • goeasy's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:GSY Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:GSY Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 24.7%
TSX:GSY Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 32%
North America Consumer Finance Industry Earnings Growth Rate Market Cap Weighted Average 4.5%
North America Consumer Finance Industry Revenue Growth Rate Market Cap Weighted Average 10.3%
Canada Market Earnings Growth Rate Market Cap Weighted Average 18.6%
Canada Market Revenue Growth Rate Market Cap Weighted Average 7.2%

*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:GSY Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:GSY Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31
2020-12-31 703 -76 94 6
2019-12-31 618 -149 83 6
TSX:GSY Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2018-12-31 341 -212 53
2018-09-30 333 -186 43
2018-06-30 327 -185 40
2018-03-31 315 -128 37
2017-12-31 305 -89 36
2017-09-30 295 -96 39
2017-06-30 286 -66 32
2017-03-31 283 -39 34
2016-12-31 274 -23 31
2016-09-30 269 12 30
2016-06-30 264 -4 32
2016-03-31 253 -11 26

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • goeasy's earnings are expected to grow significantly at over 20% yearly.
  • goeasy's revenue is expected to grow significantly at over 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:GSY Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from goeasy Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:GSY Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31 6.27 6.81 5.77 3.00
2019-12-31 5.33 5.43 5.25 3.00
TSX:GSY Past Financials Data
Date (Data in CAD Millions) EPS *
2018-12-31 3.78
2018-09-30 3.10
2018-06-30 2.92
2018-03-31 2.72
2017-12-31 2.67
2017-09-30 2.90
2017-06-30 2.40
2017-03-31 2.52
2016-12-31 2.29
2016-09-30 2.23
2016-06-30 2.32
2016-03-31 1.92

*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.
  • goeasy is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess goeasy'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 North America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the North America 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.
goeasy has a total score of 6/6, 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.

Past Performance

  How has goeasy 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 goeasy's growth in the last year to its industry (Consumer Finance).
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.
  • goeasy has delivered over 20% year on year earnings growth in the past 5 years.
  • goeasy's 1-year earnings growth exceeds its 5-year average (47% vs 22.4%)
  • goeasy's earnings growth has exceeded the North America Consumer Finance industry average in the past year (47% vs 32.4%).
Earnings and Revenue History
goeasy'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 goeasy Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:GSY Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 341.41 53.12 186.29
2018-09-30 333.41 42.60 174.09
2018-06-30 326.76 39.87 172.61
2018-03-31 315.18 36.94 167.49
2017-12-31 305.26 36.13 168.73
2017-09-30 295.25 39.11 153.44
2017-06-30 286.09 32.43 148.88
2017-03-31 282.97 34.07 144.91
2016-12-31 273.79 31.05 142.20
2016-09-30 268.93 30.24 139.26
2016-06-30 263.74 31.56 137.52
2016-03-31 252.90 26.06 133.58
2015-12-31 247.01 23.73 132.65
2015-09-30 242.59 23.31 131.62
2015-06-30 235.18 20.52 128.99
2015-03-31 230.74 20.04 126.15
2014-12-31 226.09 19.75 121.51
2014-09-30 217.64 16.97 115.74
2014-06-30 211.11 17.32 110.48
2014-03-31 204.89 15.90 106.61
2013-12-31 198.38 14.18 103.54
2013-09-30 193.90 13.61 102.40
2013-06-30 191.07 12.43 114.65
2013-03-31 188.01 11.35 99.82
2012-12-31 187.25 11.06 99.51
2012-09-30 186.55 9.91 97.71
2012-06-30 184.59 9.17 83.46

*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.
  • goeasy has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • goeasy used its assets less efficiently than the North America Consumer Finance industry average last year based on Return on Assets.
  • Unable to establish if goeasy improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess goeasy'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 Consumer Finance 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.
goeasy 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.

Health

 How is goeasy'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 goeasy's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • goeasy is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • goeasy's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of goeasy'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.4x 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 goeasy Company Filings, last reported 3 months ago.

TSX:GSY Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 301.53 691.06 135.28
2018-09-30 251.32 674.87 141.45
2018-06-30 231.43 518.39 23.56
2018-03-31 220.10 471.96 57.29
2017-12-31 228.24 460.32 109.37
2017-09-30 224.09 323.55 22.37
2017-06-30 211.86 322.24 44.83
2017-03-31 203.57 276.28 24.19
2016-12-31 196.03 263.29 24.93
2016-09-30 188.07 248.65 29.75
2016-06-30 186.17 235.92 20.49
2016-03-31 179.72 223.02 18.27
2015-12-31 176.06 211.72 11.39
2015-09-30 168.83 197.52 22.26
2015-06-30 164.31 155.22 4.79
2015-03-31 159.23 136.62 0.33
2014-12-31 153.97 121.60 1.17
2014-09-30 147.15 99.70 6.06
2014-06-30 143.79 74.04 0.29
2014-03-31 140.01 70.04 5.33
2013-12-31 135.63 61.37 2.33
2013-09-30 112.80 58.65 1.80
2013-06-30 109.78 54.16 4.73
2013-03-31 107.13 52.55 6.33
2012-12-31 105.01 39.61 4.63
2012-09-30 101.72 32.21 1.04
2012-06-30 100.19 32.92 1.20
  • goeasy's level of debt (229.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (45.3% vs 229.2% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Unable to confirm if the interest payments on goeasy's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess goeasy'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. goeasy 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.

Dividends

 What is goeasy'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
2.64%
Current annual income from goeasy dividends. Estimated to be 2.99% next year.
If you bought CA$2,000 of goeasy shares you are expected to receive CA$53 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?
  • goeasy's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.04%).
  • goeasy's dividend is below the markets top 25% of dividend payers in Canada (5.54%).
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:GSY 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 6 Analyst Estimates (S&P Global) See Below
North America Consumer Finance Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 1.8%
Canada Market Average Dividend Yield Market Cap Weighted Average of 331 Stocks 3.4%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.2%
Canada Bottom 25% Dividend Yield 25th Percentile 2%
Canada Top 25% Dividend Yield 75th Percentile 5.5%

Industry and Market average data is calculated daily.

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

TSX:GSY Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31 1.56 3.00
2019-12-31 1.24 3.00
TSX:GSY Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2019-02-13 1.240 2.796
2018-11-07 0.900 2.345
2018-08-07 0.900 1.836
2018-05-01 0.900 2.186
2018-02-20 0.900 2.413
2017-11-06 0.720 2.011
2017-11-01 0.720 2.185
2017-08-01 0.720 2.512
2017-02-15 0.720 2.356
2016-11-03 0.500 1.981
2016-08-02 0.500 2.245
2016-05-02 0.500 2.750
2016-02-17 0.500 2.630
2015-11-03 0.400 2.118
2015-07-30 0.400 2.447
2015-05-04 0.400 2.063
2015-02-18 0.400 1.865
2014-08-05 0.340 1.580
2014-05-08 0.340 1.660
2014-05-07 0.340 1.780
2013-11-06 0.340 2.056
2013-08-08 0.340 2.439
2013-03-11 0.340 3.314
2012-08-14 0.340 4.260
2012-05-07 0.340 5.166
2012-03-05 0.340 4.644
2011-11-09 0.340 5.403
2011-08-03 0.340 4.821
2011-05-31 0.340 4.386
2011-03-29 0.340 3.944
2010-11-16 0.340 3.766
2010-08-05 0.340 3.239
2010-04-30 0.340 3.969
2010-03-09 0.340 4.276
2009-11-10 0.340 4.214
2009-08-11 0.340 3.728
2009-05-07 0.340 3.820

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of goeasy's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (4.1x coverage).
X
Income/ dividend checks
We assess goeasy'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 goeasy afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. goeasy has a total score of 5/6, see the detailed checks below.


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

Management

 What is the CEO of goeasy'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
Jason Mullins
COMPENSATION CA$1,285,017
TENURE AS CEO 0.3 years
CEO Bio

Mr. Jason Mullins serves as the President of goeasy Ltd. since April 2, 2018 and its Chief Executive Officer since January 1, 2019 and served as Chief Operating Officer until December 31, 2018. Mr. Mullis served as an Executive Vice President at goeasy Ltd. from January 05, 2015 to April 2018. Mr. Mullins has 10 years of financial services experience. Mr. Mullis served as the Senior Vice President of Easyfinancial Services Operations at goeasy Ltd. since April 2011. Previously, Mr. Mullis served as the Vice President of Operations and New Business Development at goeasy Ltd. Mr. Mullins joined goeasy Ltd. in August 2010 from Mogo Financial, where he served as a Vice President of Sales and Operations and held previous management roles at CIBC as well as Allied International Credit. Mr. Mullins has an MBA from the Ivey School of Business at the University of Western Ontario.

CEO Compensation
  • Jason's compensation has increased by more than 20% in the past year.
  • Jason's remuneration is about average for companies of similar size in Canada.
Management Team Tenure

Average tenure of the goeasy management team in years:

3.3
Average Tenure
  • The tenure for the goeasy management team is about average.
Management Team

David Ingram

TITLE
Executive Chairman
COMPENSATION
CA$3M
AGE
52

Jason Mullins

TITLE
President & CEO
COMPENSATION
CA$1M
TENURE
0.3 yrs

Shadi Khatib

TITLE
Senior VP & Chief Information Officer
COMPENSATION
CA$710K
TENURE
3.3 yrs

Andrea Fiederer

TITLE
Executive VP & Chief Marketing Officer
COMPENSATION
CA$1M
TENURE
4.3 yrs

David Yeilding

TITLE
Senior VP of Finance & Interim CFO
TENURE
0.8 yrs

Anzini Sabrina

TITLE
Vice President of Legal

David Cooper

TITLE
Senior Vice President of Human Resources

Jason Appel

TITLE
Executive VP & Chief Risk Officer
COMPENSATION
CA$501K
TENURE
4.3 yrs

Shane Pennell

TITLE
Senior Vice President of Operations & Shared Services
TENURE
4.3 yrs

Steven Poole

TITLE
Senior Vice President of Operations & Merchandising
TENURE
1.3 yrs
Board of Directors Tenure

Average tenure and age of the goeasy board of directors in years:

4.4
Average Tenure
55
Average Age
  • The tenure for the goeasy board of directors is about average.
Board of Directors

Don Johnson

TITLE
Chairman Emeritus & Lead Director
COMPENSATION
CA$192K
AGE
82
TENURE
0.3 yrs

David Ingram

TITLE
Executive Chairman
COMPENSATION
CA$3M
AGE
52
TENURE
0.3 yrs

David Appel

TITLE
Director
COMPENSATION
CA$161K
AGE
76
TENURE
8.7 yrs

David Thomson

TITLE
Director
COMPENSATION
CA$144K
AGE
78
TENURE
7.3 yrs

Karen Basian

TITLE
Director
COMPENSATION
CA$134K
AGE
55
TENURE
4.4 yrs

Sean Morrison

TITLE
Director
COMPENSATION
CA$123K
AGE
48
TENURE
7.3 yrs

Susan Doniz

TITLE
Director
COMPENSATION
CA$120K
AGE
48
TENURE
2.9 yrs
Who owns this company?
Recent Insider Trading
  • goeasy insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
18. Mar 19 Sell David Ingram Individual 13. Mar 19 15. Mar 19 -40,650 CA$44.19 CA$-1,785,978
15. Mar 19 Sell David Ingram Individual 11. Mar 19 11. Mar 19 -13,500 CA$44.30 CA$-598,050
08. Mar 19 Sell David Cooper Individual 08. Mar 19 08. Mar 19 -3,028 CA$45.12 CA$-136,623
08. Mar 19 Sell Steven Poole Individual 08. Mar 19 08. Mar 19 -3,743 CA$45.12 CA$-168,884
08. Mar 19 Sell Shane Pennell Individual 08. Mar 19 08. Mar 19 -7,953 CA$45.12 CA$-358,839
08. Mar 19 Sell Jason Appel Individual 08. Mar 19 08. Mar 19 -8,710 CA$45.12 CA$-392,995
08. Mar 19 Sell Andrea Fiederer Individual 08. Mar 19 08. Mar 19 -15,479 CA$45.12 CA$-698,412
08. Mar 19 Sell Jason Mullins Individual 08. Mar 19 08. Mar 19 -25,543 CA$45.12 CA$-1,152,500
08. Mar 19 Sell David Yeilding Individual 08. Mar 19 08. Mar 19 -8,049 CA$45.12 CA$-363,171
08. Mar 19 Sell David Ingram Individual 08. Mar 19 08. Mar 19 -75,562 CA$45.12 CA$-3,409,357
10. Dec 18 Buy James' First Co Assets Ltd Company 26. Nov 18 06. Dec 18 21,629 CA$40.27 CA$840,124
10. Dec 18 Buy David Appel Investment Consultants Ltd Company 26. Nov 18 06. Dec 18 3,000 CA$38.49 CA$113,363
10. Dec 18 Buy Shadi Khatib Individual 22. Nov 18 22. Nov 18 750 CA$38.00 CA$28,498
10. Dec 18 Buy David Appel Individual 26. Nov 18 06. Dec 18 2,030 CA$40.27 CA$78,405
30. Nov 18 Buy James' First Co Assets Ltd Company 16. Nov 18 23. Nov 18 19,603 CA$39.05 CA$762,383
30. Nov 18 Buy David Appel Individual 16. Nov 18 23. Nov 18 3,017 CA$39.05 CA$116,844
23. Nov 18 Buy James' First Co Assets Ltd Company 21. Nov 18 21. Nov 18 2,850 CA$38.78 CA$110,532
23. Nov 18 Buy David Appel Investment Consultants Ltd Company 16. Nov 18 16. Nov 18 2,000 CA$38.76 CA$77,520
23. Nov 18 Buy David Appel Individual 21. Nov 18 21. Nov 18 150 CA$38.78 CA$5,817
21. Nov 18 Buy David Appel Individual 20. Nov 18 20. Nov 18 850 CA$38.35 CA$32,593
21. Nov 18 Buy James' First Co Assets Ltd Company 20. Nov 18 20. Nov 18 16,150 CA$38.35 CA$619,272
21. Nov 18 Buy David Appel Investment Consultants Ltd Company 20. Nov 18 20. Nov 18 3,000 CA$38.19 CA$114,490
18. Nov 18 Buy James' First Co Assets Ltd Company 12. Nov 18 15. Nov 18 43,563 CA$40.84 CA$1,749,966
18. Nov 18 Buy David Appel Investment Consultants Ltd Company 12. Nov 18 15. Nov 18 11,755 CA$41.50 CA$486,304
18. Nov 18 Buy David Appel Individual 14. Nov 18 15. Nov 18 45,107 CA$41.42 CA$1,824,429
18. Nov 18 Buy David Yeilding Individual 16. Nov 18 16. Nov 18 500 CA$38.62 CA$19,310
15. Nov 18 Buy Susan Doniz Individual 12. Nov 18 15. Nov 18 1,900 CA$41.35 CA$76,906
15. Nov 18 Buy Donald Johnson Individual 14. Nov 18 15. Nov 18 27,391 CA$39.80 CA$1,089,020
15. Nov 18 Buy David Ingram Individual 12. Nov 18 12. Nov 18 400 CA$40.47 CA$16,188
14. Nov 18 Buy Karen Basian Individual 12. Nov 18 12. Nov 18 1,000 CA$40.78 CA$40,780
13. Nov 18 Buy Steven Poole Individual 12. Nov 18 12. Nov 18 1,500 CA$40.70 CA$61,055
12. Nov 18 Buy Shane Pennell Individual 12. Nov 18 12. Nov 18 1,000 CA$40.77 CA$40,770
12. Nov 18 Buy Jason Appel Individual 12. Nov 18 12. Nov 18 500 CA$40.90 CA$20,450
12. Nov 18 Buy Andrea Fiederer Individual 12. Nov 18 12. Nov 18 750 CA$40.50 CA$30,375
12. Nov 18 Buy Jason Mullins Individual 12. Nov 18 12. Nov 18 2,000 CA$40.77 CA$81,540
12. Nov 18 Buy David Ingram Individual 12. Nov 18 12. Nov 18 1,600 CA$40.47 CA$64,752
12. Sep 18 Buy Jason Appel Individual 12. Sep 18 12. Sep 18 200 CA$51.25 CA$10,250
22. Aug 18 Buy David Ingram Individual 17. Aug 18 17. Aug 18 1,000 CA$51.92 CA$51,920
14. Jun 18 Buy Jason Appel Individual 14. Jun 18 14. Jun 18 300 CA$40.50 CA$12,150
04. Jun 18 Sell Lorna Poole Individual 29. May 18 29. May 18 -450 CA$42.53 CA$-19,140
25. May 18 Sell Sean Morrison Individual 25. May 18 25. May 18 -3,500 CA$43.30 CA$-151,550
24. May 18 Sell Sean Morrison Individual 24. May 18 24. May 18 -2,500 CA$43.20 CA$-107,900
23. May 18 Sell Sean Morrison Individual 17. May 18 23. May 18 -19,000 CA$43.25 CA$-807,200
X
Management checks
We assess goeasy'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. goeasy 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.

News

Simply Wall St News

If You Had Bought goeasy (TSE:GSY) Shares Three Years Ago You'd Have Made 158%

(TSE:GSY) share price has flown 158% in the last three years. … In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. … goeasy was able to grow its EPS at 29% per year over three years, sending the share price higher.

Simply Wall St -

What Kind Of Investor Owns Most Of goeasy Ltd. (TSE:GSY)?

Generally speaking, as a company grows, institutions will increase their ownership. … goeasy is a smaller company with a market capitalization of CA$611m, so it may still be flying under the radar of many institutional investors. … Our analysis of the ownership of the company, below, shows that.

Simply Wall St -

Should We Worry About goeasy Ltd.'s (TSE:GSY) P/E Ratio?

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … We'll look at goeasy Ltd.'s (TSE:GSY) P/E ratio and reflect on what it tells us about the company's share price. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Is goeasy Ltd. (TSE:GSY) A Volatile Stock?

Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market.

Simply Wall St -

Why goeasy Ltd. (TSE:GSY) Is A Top Dividend Stock

The stock currently pays out a dividend yield of 2.8%, and has a market cap of CA$634m. … Does goeasy tick all the boxes of a great dividend stock? … See our latest analysis for goeasy

Simply Wall St -

A Look At goeasy Ltd.'s (TSE:GSY) Exceptional Fundamentals

Help shape the future of investing tools and you could win a $250 gift card! … (TSE:GSY) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective.

Simply Wall St -

Need To Know: goeasy Ltd. (TSE:GSY) Insiders Have Been Buying Shares

We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. … So we'll take a look at whether insiders have been buying or selling shares in goeasy Ltd. … But insiders sold 25.45k shares worth CA$1.1m

Simply Wall St -

Investors Are Undervaluing goeasy Ltd (TSE:GSY) By 12.1%

Pricing GSY, a financial stock, can be difficult since consumer finance businesses have cash flows that are affected by regulations that are not imposed upon other sectors. … For example, businesses that deal with loans are required to hold more capital to reduce the risk to shareholders.

Simply Wall St -

Does The goeasy Ltd (TSE:GSY) Share Price Fall With The Market?

The second type is the broader market volatility, which you cannot diversify away, since it arises from macroeconomic factors which directly affects all the stocks on the market. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … While we should keep in mind that Warren Buffett has cautioned that 'Volatility is far from synonymous with risk', beta is still a useful factor to consider.

Simply Wall St -

What Does goeasy Ltd's (TSE:GSY) P/E Ratio Tell You?

This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … goeasy has a price to earnings ratio of 14.86, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Company Info

Description

goeasy Ltd. provides loans and other financial services to consumers in Canada. It also leases household products to consumers. The company operates through two segments, Easyfinancial and Easyhome. The Easyfinancial segment provides unsecured and real estate secured installment loans, and secured saving loans; loan protection plans; and an optional home and auto benefits product, which offers road side assistance and a suite of other support services, as well as credit monitoring services. The Easyhome segment leases furniture, appliances, electronics, and computers. As of December 31, 2018 it operated 241 easyfinancial locations that include 33 kiosks, as well as 165 easyhome stores that include 31 franchises and 1 consolidated franchise location. The company was formerly known as easyhome Ltd. and changed its name to goeasy Ltd. in September 2015. goeasy Ltd. was founded in 1990 and is headquartered in Mississauga, Canada.

Details
Name: goeasy Ltd.
GSY
Exchange: TSX
Founded: 1990
CA$679,685,024
14,492,218
Website: http://www.goeasy.com
Address: goeasy Ltd.
33 City Centre Drive,
Suite 510,
Mississauga,
Ontario, L5B 2N5,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX GSY Common Shares The Toronto Stock Exchange CA CAD 12. Nov 1993
OTCPK EHME.F Common Shares Pink Sheets LLC US USD 12. Nov 1993
Number of employees
Current staff
Staff numbers
1,841
goeasy employees.
Industry
Consumer Finance
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/26 01:44
End of day share price update: 2019/04/25 00:00
Last estimates confirmation: 2019/02/15
Last earnings filing: 2019/02/13
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


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.