Trisura Group Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: TSU (CA$40.31) is trading below our estimate of fair value (CA$88.54)

Significantly Below Fair Value: TSU is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for TSU?

Key metric: As TSU is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for TSU. This is calculated by dividing TSU's market cap by their current earnings.
What is TSU's PE Ratio?
PE Ratio17.3x
EarningsCA$110.98m
Market CapCA$1.92b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for TSU vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average11.5x
DFY Definity Financial
12.4x-10.3%CA$6.7b
IFC Intact Financial
23x6.4%CA$47.6b
FFH Fairfax Financial Holdings
7.8x-13.4%CA$43.6b
ELF E-L Financial
2.8xn/aCA$5.0b
TSU Trisura Group
17.3x19.0%CA$1.9b

Price-To-Earnings vs Peers: TSU is expensive based on its Price-To-Earnings Ratio (17.3x) compared to the peer average (11.5x).


Price to Earnings Ratio vs Industry

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

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
TSU 17.3xIndustry Avg. 13.4xNo. of Companies15PE01020304050+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: TSU is expensive based on its Price-To-Earnings Ratio (17.3x) compared to the North American Insurance industry average (13.4x).


Price to Earnings Ratio vs Fair Ratio

What is TSU'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.

TSU PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio17.3x
Fair PE Ratio14.6x

Price-To-Earnings vs Fair Ratio: TSU is expensive based on its Price-To-Earnings Ratio (17.3x) compared to the estimated Fair Price-To-Earnings Ratio (14.6x).


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst TSU forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$40.31
CA$56.78
+40.9%
10.2%CA$67.00CA$49.00n/a9
Nov ’25CA$41.83
CA$57.89
+38.4%
9.3%CA$67.00CA$52.00n/a9
Oct ’25CA$43.32
CA$57.89
+33.6%
9.3%CA$67.00CA$52.00n/a9
Sep ’25CA$41.82
CA$58.78
+40.5%
8.4%CA$67.00CA$52.00n/a9
Aug ’25CA$44.60
CA$58.44
+31.0%
8.7%CA$67.00CA$52.00n/a9
Jul ’25CA$41.38
CA$58.11
+40.4%
8.5%CA$67.00CA$52.00n/a9
Jun ’25CA$40.33
CA$58.11
+44.1%
8.5%CA$67.00CA$52.00n/a9
May ’25CA$42.26
CA$55.11
+30.4%
11.9%CA$65.00CA$44.00n/a9
Apr ’25CA$41.47
CA$55.50
+33.8%
11.4%CA$65.00CA$44.00n/a8
Mar ’25CA$44.14
CA$55.50
+25.7%
11.4%CA$65.00CA$44.00n/a8
Feb ’25CA$37.73
CA$51.75
+37.2%
11.2%CA$62.00CA$40.00n/a8
Jan ’25CA$34.00
CA$51.89
+52.6%
11.0%CA$62.00CA$40.00n/a9
Dec ’24CA$33.88
CA$53.38
+57.5%
7.7%CA$62.00CA$49.00CA$40.318
Nov ’24CA$30.33
CA$52.86
+74.3%
7.5%CA$60.00CA$49.00CA$41.837
Oct ’24CA$30.13
CA$54.43
+80.6%
6.2%CA$60.00CA$49.00CA$43.327
Sep ’24CA$31.81
CA$54.43
+71.1%
6.2%CA$60.00CA$49.00CA$41.827
Aug ’24CA$33.68
CA$53.86
+59.9%
6.2%CA$60.00CA$49.00CA$44.607
Jul ’24CA$37.57
CA$53.71
+43.0%
6.0%CA$60.00CA$49.00CA$41.387
Jun ’24CA$34.52
CA$53.71
+55.6%
6.0%CA$60.00CA$49.00CA$40.337
May ’24CA$31.31
CA$53.57
+71.1%
7.2%CA$62.00CA$49.00CA$42.267
Apr ’24CA$33.09
CA$54.00
+63.2%
7.5%CA$62.00CA$49.00CA$41.477
Mar ’24CA$37.12
CA$55.79
+50.3%
10.8%CA$69.00CA$49.00CA$44.147
Feb ’24CA$43.20
CA$57.79
+33.8%
8.2%CA$68.00CA$52.00CA$37.737
Jan ’24CA$45.29
CA$57.71
+27.4%
8.3%CA$68.00CA$52.00CA$34.007
Dec ’23CA$43.80
CA$57.71
+31.8%
8.3%CA$68.00CA$52.00CA$33.887

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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