TSX:TVA.B - Analysts future estimates and past financials data (CAD Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2027	451	N/A	13	N/A	1
12/31/2026	471	N/A	12	N/A	1
3/31/2026	539	31	97	106	N/A
12/31/2025	541	15	50	63	N/A
9/30/2025	502	-18	52	65	N/A
6/30/2025	508	-24	21	37	N/A
3/31/2025	523	-22	13	36	N/A
12/31/2024	532	-19	46	67	N/A
9/30/2024	537	-34	4	22	N/A
6/30/2024	543	-37	21	34	N/A
3/31/2024	538	-42	-82	-78	N/A
12/31/2023	545	-48	-72	-69	N/A
9/30/2023	565	-32	-38	-31	N/A
6/30/2023	577	-24	-63	-52	N/A
3/31/2023	586	-19	31	48	N/A
12/31/2022	594	-9	7	28	N/A
9/30/2022	594	3	5	29	N/A
6/30/2022	615	15	27	52	N/A
3/31/2022	627	22	4	25	N/A
12/31/2021	623	31	23	43	N/A
9/30/2021	599	46	2	20	N/A
6/30/2021	567	35	-39	-23	N/A
3/31/2021	512	29	15	30	N/A
12/31/2020	508	32	22	38	N/A
9/30/2020	525	21	11	29	N/A
6/30/2020	531	26	65	83	N/A
3/31/2020	573	22	52	72	N/A
12/31/2019	570	16	N/A	51	N/A
9/30/2019	556	10	N/A	51	N/A
6/30/2019	558	11	N/A	40	N/A
3/31/2019	552	7	N/A	32	N/A
12/31/2018	552	9	N/A	30	N/A
9/30/2018	557	9	N/A	27	N/A
6/30/2018	570	-21	N/A	51	N/A
3/31/2018	582	-13	N/A	47	N/A
12/31/2017	590	-16	N/A	33	N/A
9/30/2017	604	-19	N/A	36	N/A
6/30/2017	595	-37	N/A	24	N/A
3/31/2017	586	-40	N/A	25	N/A
12/31/2016	591	-40	N/A	42	N/A
9/30/2016	587	-47	N/A	45	N/A
6/30/2016	594	-51	N/A	26	N/A
3/31/2016	609	-48	N/A	65	N/A
12/31/2015	590	-55	N/A	95	N/A
9/30/2015	554	-58	N/A	96	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if TVA.B's forecast earnings growth is above the savings rate (3%).

Earnings vs Market: Insufficient data to determine if TVA.B's earnings are forecast to grow faster than the Canadian market

High Growth Earnings: Insufficient data to determine if TVA.B's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: TVA.B's revenue is expected to decline over the next 3 years (-10% per year).

High Growth Revenue: TVA.B's revenue is forecast to decline over the next 3 years (-10% per year).

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if TVA.B's Return on Equity is forecast to be high in 3 years time

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/07/06 04:38
End of Day Share Price	2026/07/03 00:00
Earnings	2026/03/31
Annual Earnings	2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

TVA Group Inc. is covered by 5 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
David McFadgen	ATB Cormark Historical (Cormark Securities)
Robert Bek	CIBC Capital Markets
Adam Shine	National Bank Financial

TVA Group Future Growth

Future criteria checks 0/6

Key information

Recent future growth updates

Price target decreased by 75% to CA$0.25

Price target decreased by 22% to CA$1.25

Price target decreased to CA$2.00

Price target increased to CA$3.50

Price target raised to CA$5.25

Recent updates

Investor sentiment improves as stock rises 16%

Investor sentiment improves as stock rises 21%

First quarter 2026 earnings: Revenues exceed analyst expectations

TVA Group Inc. Approves the Election of Marie-Pierre Simard as Director

Investor sentiment improves as stock rises 38%

TVA Group Inc., Annual General Meeting, May 12, 2026

Investor sentiment deteriorates as stock falls 16%

Insufficient new directors

Quebecor and TVA Group Announce TVA Films' Activities to Be Centralized Under Newly Created Quebecor Films

TVA Group Cuts Positions in its Broadcasting Segment

Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind

Second quarter 2025 earnings released: CA$0.11 loss per share (vs CA$0.067 loss in 2Q 2024)

Insufficient new directors

Price target decreased by 75% to CA$0.25

First quarter 2025 earnings released: CA$0.47 loss per share (vs CA$0.41 loss in 1Q 2024)

Insufficient new directors

TVA Group Inc., Annual General Meeting, May 06, 2025

New major risk - Share price stability

Full year 2024 earnings released: CA$0.45 loss per share (vs CA$1.11 loss in FY 2023)

New minor risk - Share price stability

Price target decreased by 22% to CA$1.25

Third quarter 2024 earnings released: EPS: CA$0.06 (vs CA$0.015 loss in 3Q 2023)

Second quarter 2024 earnings released: CA$0.067 loss per share (vs CA$0.18 loss in 2Q 2023)

TVA Group Inc. Reports Goodwill Impairment for the Second Quarter Ended June 30, 2024

Investor Optimism Abounds TVA Group Inc. (TSE:TVA.B) But Growth Is Lacking

First quarter 2024 earnings released: CA$0.41 loss per share (vs CA$0.55 loss in 1Q 2023)

Why Investors Shouldn't Be Surprised By TVA Group Inc.'s (TSE:TVA.B) Low P/S

Full year 2023 earnings released: CA$1.11 loss per share (vs CA$0.20 loss in FY 2022)

TVA Group Inc., Annual General Meeting, May 07, 2024

Now 26% undervalued after recent price drop

Insufficient new directors

TVA Group Announces Reorganization Plan

Third quarter 2023 earnings released: CA$0.015 loss per share (vs CA$0.18 profit in 3Q 2022)

New major risk - Revenue and earnings growth

Second quarter 2023 earnings: EPS and revenues exceed analyst expectations

First quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

Is TVA Group (TSE:TVA.B) Weighed On By Its Debt Load?

Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

TVA Group Inc., Annual General Meeting, May 09, 2023

Investor sentiment improves as stock rises 17%

Price target decreased to CA$2.00

Third quarter 2022 earnings: EPS in line with expectations, revenues disappoint

Here's Why TVA Group (TSE:TVA.B) Has A Meaningful Debt Burden

Second quarter 2022 earnings released: CA$0.074 loss per share (vs CA$0.089 profit in 2Q 2021)

First quarter 2022 earnings: EPS exceeds analyst expectations

Price target increased to CA$3.50

Insufficient new directors

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

TVA Group Inc., Annual General Meeting, May 10, 2022

TVA Group (TSE:TVA.B) Has A Pretty Healthy Balance Sheet

Insufficient new directors

Third quarter 2021 earnings released: EPS CA$0.44 (vs CA$0.20 in 3Q 2020)

Second quarter 2021 earnings released: EPS CA$0.089 (vs CA$0.064 loss in 2Q 2020)

Independent Corporate Director has left the company

Is TVA Group (TSE:TVA.B) Using Too Much Debt?

First quarter 2021 earnings released: CA$0.10 loss per share (vs CA$0.017 loss in 1Q 2020)

If You Had Bought TVA Group's (TSE:TVA.B) Shares Five Years Ago You Would Be Down 49%

New 90-day high: CA$2.22

Price target raised to CA$5.25

Full year 2020 earnings released

Earnings beat expectations, revenue disappoints

TVA Group Inc., Annual General Meeting, May 11, 2021

TVA Group (TSE:TVA.B) Has A Pretty Healthy Balance Sheet

New 90-day high: CA$2.20

What We Learned About TVA Group's (TSE:TVA.B) CEO Compensation

New 90-day high: CA$2.16

Market bids up stock over the past week

Market bids up stock over the past week

A Look At TVA Group's (TSE:TVA.B) Share Price Returns

New 90-day high: CA$1.80