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Firan Technology Group

TSX:FTG
Snowflake Description

Flawless balance sheet and undervalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FTG
TSX
CA$76M
Market Cap
  1. Home
  2. CA
  3. Tech
Company description

Firan Technology Group Corporation manufactures and sells printed circuit boards, illuminated cockpit display panels, and keyboards in Canada, the United States, Asia, Europe, and internationally. The last earnings update was 74 days ago. More info.


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FTG Share Price and Events
7 Day Returns
1.5%
TSX:FTG
2%
CA Electronic
1.2%
CA Market
1 Year Returns
55.8%
TSX:FTG
-22.2%
CA Electronic
-2.6%
CA Market
FTG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Firan Technology Group (FTG) 1.5% 5.3% 5.7% 55.8% 45.7% 597.9%
CA Electronic 2% 2% -8.6% -22.2% -8.9% -13.7%
CA Market 1.2% 1.3% 1% -2.6% 12.8% 2.2%
1 Year Return vs Industry and Market
  • FTG outperformed the Electronic industry which returned -22.2% over the past year.
  • FTG outperformed the Market in Canada which returned -2.6% over the past year.
Price Volatility
FTG
Industry
5yr Volatility vs Market

FTG Value

 Is Firan Technology 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 Firan Technology 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 Firan Technology Group.

TSX:FTG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.6%
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:FTG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Electronic Unlevered Beta Simply Wall St/ S&P Global 1.1
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.101 (1 + (1- 26.5%) (10.42%))
1.124
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.12
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.124 * 5.96%)
8.65%

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

The calculations below outline how an intrinsic value for Firan Technology 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:FTG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 8.65%)
2019 11.30 Analyst x1 10.40
2020 13.90 Analyst x1 11.78
2021 15.98 Est @ 15% 12.46
2022 17.76 Est @ 11.08% 12.74
2023 19.24 Est @ 8.34% 12.71
2024 20.47 Est @ 6.42% 12.45
2025 21.51 Est @ 5.08% 12.04
2026 22.40 Est @ 4.14% 11.54
2027 23.18 Est @ 3.48% 10.99
2028 23.89 Est @ 3.02% 10.42
Present value of next 10 years cash flows CA$117.52
TSX:FTG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CA$23.89 × (1 + 1.95%) ÷ (8.65% – 1.95%)
CA$363.35
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$363.35 ÷ (1 + 8.65%)10
CA$158.52
TSX:FTG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$117.52 + CA$158.52
CA$276.04
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$276.04 / 22.72
CA$12.15
TSX:FTG Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$12.15
Current discount Discount to share price of CA$3.35
= -1 x (CA$3.35 - CA$12.15) / CA$12.15
72.4%

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

Current Discount
Amount off the current price Firan Technology Group is available for.
Intrinsic value
>50%
Share price is CA$3.35 vs Future cash flow value of CA$12.15
Current Discount Checks
For Firan Technology Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Firan Technology Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Firan Technology Group'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 Firan Technology Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Firan Technology Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:FTG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-01) in CAD CA$0.19
TSX:FTG Share Price ** TSX (2019-06-21) in CAD CA$3.35
Canada Electronic Industry PE Ratio Median Figure of 7 Publicly-Listed Electronic Companies 17.35x
Canada Market PE Ratio Median Figure of 542 Publicly-Listed Companies 15.1x

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

** Primary Listing of Firan Technology Group.

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

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

= 3.35 ÷ 0.19

17.35x

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

  • Firan Technology Group is good value based on earnings compared to the CA Electronic industry average.
  • Firan Technology Group is overvalued based on earnings compared to the Canada market.
Price based on expected Growth
Does Firan Technology Group's expected growth come at a high price?
Raw Data
TSX:FTG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.35x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
29%per year
North America Electronic Industry PEG Ratio Median Figure of 62 Publicly-Listed Electronic Companies 1.27x
Canada Market PEG Ratio Median Figure of 248 Publicly-Listed Companies 1.18x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 17.35x ÷ 29%

0.6x

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

  • Firan Technology Group is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Firan Technology Group's assets?
Raw Data
TSX:FTG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-01) in CAD CA$1.77
TSX:FTG Share Price * TSX (2019-06-21) in CAD CA$3.35
Canada Electronic Industry PB Ratio Median Figure of 21 Publicly-Listed Electronic Companies 2.71x
Canada Market PB Ratio Median Figure of 2,425 Publicly-Listed Companies 1.43x
TSX:FTG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 3.35 ÷ 1.77

1.9x

* Primary Listing of Firan Technology Group.

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

  • Firan Technology Group is good value based on assets compared to the CA Electronic industry average.
X
Value checks
We assess Firan Technology 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 Electronic 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 Electronic industry average (and greater than 0)? (1 check)
  5. Firan Technology Group has a total score of 5/6, 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.

FTG Future Performance

 How is Firan Technology Group expected to perform in the next 1 to 3 years based on estimates from 2 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
29%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Firan Technology Group expected to grow at an attractive rate?
  • Firan Technology Group's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
  • Firan Technology Group's earnings growth is expected to exceed the Canada market average.
  • Firan Technology Group's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:FTG Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:FTG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 29%
TSX:FTG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 12.6%
Canada Electronic Industry Earnings Growth Rate Market Cap Weighted Average 3.6%
Canada Electronic Industry Revenue Growth Rate Market Cap Weighted Average 6.1%
Canada Market Earnings Growth Rate Market Cap Weighted Average 14.9%
Canada Market Revenue Growth Rate Market Cap Weighted Average 5.9%

*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:FTG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:FTG Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-11-30 133 8 1
2019-11-30 115 7 2
TSX:FTG Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-03-01 107 10 4
2018-11-30 109 12 3
2018-08-31 104 5 2
2018-06-01 98 6 1
2018-03-02 95 4 0
2017-11-30 95 6 1
2017-09-01 99 6 2
2017-06-02 103 2 5
2017-03-03 97 -2 6
2016-11-30 87 -4 6
2016-08-26 79 -2 12
2016-05-27 74 2 10

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Firan Technology Group's earnings are expected to grow significantly at over 20% yearly.
  • Firan Technology Group's revenue is expected to grow by 12.6% 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:FTG 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 2 Analyst Estimates (S&P Global) See Below

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

TSX:FTG Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-11-30 0.29 0.29 0.29 1.00
2019-11-30 0.28 0.30 0.25 2.00
TSX:FTG Past Financials Data
Date (Data in CAD Millions) EPS *
2019-03-01 0.19
2018-11-30 0.13
2018-08-31 0.08
2018-06-01 0.06
2018-03-02 0.01
2017-11-30 0.06
2017-09-01 0.08
2017-06-02 0.23
2017-03-03 0.30
2016-11-30 0.29
2016-08-26 0.62
2016-05-27 0.54

*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 Firan Technology Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Firan Technology 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.
Firan Technology Group has a total score of 4/6, 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.

FTG Past Performance

  How has Firan Technology 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 Firan Technology Group's growth in the last year to its industry (Electronic).
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.
  • Firan Technology Group's year on year earnings growth rate has been positive over the past 5 years.
  • Firan Technology Group's 1-year earnings growth exceeds its 5-year average (2234.5% vs 1.2%)
  • Firan Technology Group's earnings growth has exceeded the CA Electronic industry average in the past year (2234.5% vs 63.5%).
Earnings and Revenue History
Firan Technology 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 Firan Technology Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:FTG Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-01 107.28 4.39 13.39 3.64
2018-11-30 109.42 2.88 13.17 3.72
2018-08-31 104.27 1.84 12.76 3.82
2018-06-01 98.42 1.35 12.39 4.55
2018-03-02 95.05 0.18 11.90 5.35
2017-11-30 94.70 1.27 12.51 5.62
2017-09-01 99.06 1.71 12.74 5.30
2017-06-02 103.11 5.04 12.55 4.39
2017-03-03 97.36 6.27 12.40 3.36
2016-11-30 87.11 5.92 11.14 2.64
2016-08-26 78.62 11.71 10.43 -3.50
2016-05-27 73.66 9.86 10.50 -2.61
2016-02-26 72.67 9.57 10.10 -2.13
2015-11-30 72.05 9.54 10.02 -1.67
2015-08-28 69.79 4.30 9.92 4.66
2015-05-29 66.38 2.89 9.46 4.00
2015-02-27 63.02 2.47 9.71 3.60
2014-11-30 60.70 2.19 9.43 3.36
2014-08-29 59.64 1.20 9.20 3.33
2014-05-30 58.14 0.43 9.15 2.94
2014-02-28 56.97 -0.16 8.77 2.95
2013-11-30 56.00 -1.00 8.75 2.77
2013-08-30 54.29 -1.09 8.37 2.32
2013-05-31 55.03 -0.39 8.24 2.61
2013-03-01 55.19 0.20 8.19 2.56
2012-11-30 55.65 0.93 8.26 2.53
2012-08-31 55.91 1.74 8.47 2.30

*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.
  • Firan Technology Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Firan Technology Group used its assets more efficiently than the CA Electronic industry average last year based on Return on Assets.
  • Firan Technology Group's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Firan Technology 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 Electronic 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.
Firan Technology Group has a total score of 4/6, 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.

FTG Health

 How is Firan Technology 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 Firan Technology Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Firan Technology Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Firan Technology Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Firan Technology 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 6.3x 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 Firan Technology Group Company Filings, last reported 3 months ago.

TSX:FTG Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-01 43.49 7.93 3.63
2018-11-30 42.31 7.43 5.03
2018-08-31 41.36 10.40 2.48
2018-06-01 41.11 12.11 3.80
2018-03-02 39.94 14.44 2.64
2017-11-30 40.11 14.21 2.75
2017-09-01 39.86 11.53 2.44
2017-06-02 39.79 13.63 3.64
2017-03-03 39.53 12.54 2.80
2016-11-30 38.08 14.57 3.15
2016-08-26 37.24 12.85 3.10
2016-05-27 27.87 8.21 1.77
2016-02-26 25.94 5.09 2.23
2015-11-30 25.09 5.29 3.16
2015-08-28 17.69 4.93 2.30
2015-05-29 16.35 5.27 0.20
2015-02-27 14.58 5.23 0.52
2014-11-30 15.10 5.70 0.64
2014-08-29 14.35 6.15 1.55
2014-05-30 14.00 6.01 1.86
2014-02-28 12.86 7.16 1.74
2013-11-30 12.94 7.03 1.00
2013-08-30 12.83 8.58 3.72
2013-05-31 13.19 7.15 0.56
2013-03-01 13.24 5.04 0.70
2012-11-30 14.02 5.01 1.45
2012-08-31 13.86 4.39 0.72
  • Firan Technology Group's level of debt (18.2%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (55.4% vs 18.2% today).
  • Debt is well covered by operating cash flow (127%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 20x coverage).
X
Financial health checks
We assess Firan Technology 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. Firan Technology Group has a total score of 6/6, 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.

FTG Dividends

 What is Firan Technology 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
0%
Current annual income from Firan Technology Group dividends.
If you bought CA$2,000 of Firan Technology Group shares you are expected to receive CA$0 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?
  • Unable to evaluate Firan Technology Group's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Firan Technology Group's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:FTG 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 2 Analyst Estimates (S&P Global) See Below
North America Electronic Industry Average Dividend Yield Market Cap Weighted Average of 38 Stocks 1.6%
Canada Market Average Dividend Yield Market Cap Weighted Average of 335 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.1%
Canada Bottom 25% Dividend Yield 25th Percentile 2.1%
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:FTG Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2020-11-30
2019-11-30

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

  • Unable to perform a dividend volatility check as Firan Technology Group has not reported any payouts.
  • Unable to verify if Firan Technology Group's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Firan Technology Group's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Firan Technology Group has not reported any payouts.
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 Firan Technology Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - 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 Firan Technology Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Firan Technology Group has a total score of 0/6, see the detailed checks below.


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

FTG Management

 What is the CEO of Firan Technology 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
Brad Bourne
COMPENSATION CA$439,789
AGE 59
TENURE AS CEO 15.4 years
CEO Bio

Mr. Bradley C. Bourne, also known as Brad, has been the Chief Executive Officer of Firan Technology Group Corporation (formerly Circuit World Corporation) since January 09, 2004 and has been its President since 2002. Mr. Bourne joined Circuit World in July 2003 through ity's acquisition of the Firan Technology Group (FTG), where, as President, he led FTG's return to profitability in 2002 and consistently strong performance thereafter. Prior to joining FTG, Mr. Bourne was President and General Manager for Flow Automation. He also spent 17 years at Spar Aerospace Limited in increasingly senior roles, including vice presidential positions for strategic development and marketing. He has been a Director of Firan Technology Group Corporation since June 30, 2003. He holds a degree in Mechanical Engineering from the University of Toronto and a Masters in Business Administration from the Ivey School of Business.

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

Average tenure of the Firan Technology Group management team in years:

4.8
Average Tenure
  • The tenure for the Firan Technology Group management team is about average.
Management Team

Brad Bourne

TITLE
President
COMPENSATION
CA$440K
AGE
59
TENURE
15.4 yrs

Melinda Diebel

TITLE
VP, CFO & Corporate Secretary
COMPENSATION
CA$252K
TENURE
2.8 yrs

Hardeep Heer

TITLE
VP of Engineering & CTO
COMPENSATION
CA$245K
TENURE
10.2 yrs

Brandon Kuecker

TITLE
President of FTG Aerospace Tianjin Inc.
TENURE
1.2 yrs

Byran Clark

TITLE
Director of Corporate Quality
COMPENSATION
CA$181K
TENURE
2.8 yrs

Chris Woodland

TITLE
VP & GM of FTG Aerospace - Toronto
COMPENSATION
CA$238K
TENURE
6.8 yrs
Board of Directors Tenure

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

15.2
Average Tenure
58
Average Age
  • The average tenure for the Firan Technology Group board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Robert Beutel

TITLE
Chairman
COMPENSATION
CA$31K
AGE
58
TENURE
4.2 yrs

Brad Bourne

TITLE
President
COMPENSATION
CA$440K
AGE
59
TENURE
16 yrs

Ed Hanna

TITLE
Independent Director
COMPENSATION
CA$26K
AGE
71
TENURE
16 yrs

David Masotti

TITLE
Independent Director
COMPENSATION
CA$26K
AGE
54
TENURE
15.2 yrs

Mike Andrade

TITLE
Independent Director
COMPENSATION
CA$23K
AGE
54
TENURE
2.9 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Firan Technology Group insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
30. May 19 Buy Bradley Bourne Individual 29. May 19 29. May 19 21,300 CA$3.20 CA$68,000
29. May 19 Buy Bradley Bourne Individual 21. May 19 21. May 19 5,000 CA$3.28 CA$16,400
29. May 19 Sell Bradley Bourne Individual 21. May 19 21. May 19 -4,800 CA$3.28 CA$-15,744
15. May 19 Buy Hiteshkumar Talati Individual 14. May 19 14. May 19 10,000 CA$3.26 CA$32,600
08. May 19 Buy Hiteshkumar Talati Individual 06. May 19 06. May 19 10,000 CA$3.38 CA$33,800
23. Oct 18 Buy Bradley Bourne Individual 22. Oct 18 22. Oct 18 22,000 CA$2.45 CA$53,900
X
Management checks
We assess Firan Technology 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. Firan Technology 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.

FTG News

Simply Wall St News

What Kind Of Shareholder Appears On The Firan Technology Group Corporation's (TSE:FTG) Shareholder Register?

The big shareholder groups in Firan Technology Group Corporation (TSE:FTG) have power over the company. … Check out our latest analysis for Firan Technology Group TSX:FTG Ownership Summary, June 20th 2019 What Does The Institutional Ownership Tell Us About Firan Technology Group? … Insider Ownership Of Firan Technology Group The definition of company insiders can be subjective, and does vary between jurisdictions.

Simply Wall St -

Does Firan Technology Group Corporation’s (TSE:FTG) ROCE Reflect Well On The Business?

The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Firan Technology Group: 0.18 = CA$8.9m ÷ (CA$69m - CA$19m) (Based on the trailing twelve months to March 2019.) So, Firan Technology Group has an ROCE of 18%. … What Are Current Liabilities, And How Do They Affect Firan Technology Group's ROCE? … Our Take On Firan Technology Group's ROCE Overall, Firan Technology Group has a decent ROCE and could be worthy of further research.

Simply Wall St -

A Closer Look At Firan Technology Group Corporation's (TSE:FTG) Uninspiring ROE

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Firan Technology Group: 10% = CA$4.4m ÷ CA$43m (Based on the trailing twelve months to March 2019.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … Does Firan Technology Group Have A Good Return On Equity? … Combining Firan Technology Group's Debt And Its 10% Return On Equity Firan Technology Group has a debt to equity ratio of 0.18, which is far from excessive.

Simply Wall St -

Is Firan Technology Group Corporation's (TSE:FTG) ROE Of 10% Concerning?

To keep the lesson grounded in practicality, we'll use ROE to better understand Firan Technology Group Corporation (TSE:FTG). … Our data shows Firan Technology Group has a return on equity of 10% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Did You Miss Firan Technology Group's (TSE:FTG) Whopping 556% Share Price Gain?

Then look at the Firan Technology Group Corporation (TSE:FTG) share price. … During the five years of share price growth, Firan Technology Group moved from a loss to profitability. … Sometimes, the start of profitability is a major inflection point that can signal fast earnings growth to come, which in turn justifies very strong share price gains.

Simply Wall St -

Does Firan Technology Group Corporation's (TSE:FTG) CEO Salary Reflect Performance?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Brad Bourne's Compensation Compare With Similar Sized Companies. … According to our data, Firan Technology Group Corporation has a market capitalization of CA$69m, and pays its CEO total annual compensation worth CA$623k.

Simply Wall St -

What Type Of Shareholder Owns Firan Technology Group Corporation's (TSE:FTG)?

If you want to know who really controls Firan Technology Group Corporation (TSE:FTG), then you'll have to look at the makeup of its share registry. … Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … Firan Technology Group is a smaller company with a market capitalization of CA$66m, so it may still be flying under the radar of many institutional investors.

Simply Wall St -

Why I Like Firan Technology Group Corporation (TSE:FTG)

Firan Technology Group Corporation (TSE:FTG) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … is a company that has been able to sustain great financial health, trading at an attractive share price

Simply Wall St -

Should You Worry About Firan Technology Group Corporation’s (TSE:FTG) ROCE?

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … What is Return On Capital Employed (ROCE)? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

Firan Technology Group Corporation (TSE:FTG): Time For A Financial Health Check

Investors are always looking for growth in small-cap stocks like Firan Technology Group Corporation (TSE:FTG), with a market cap of CA$50m. … However, an important fact which most ignore is: how financially healthy is the business?

Simply Wall St -

FTG Company Info

Description

Firan Technology Group Corporation manufactures and sells printed circuit boards, illuminated cockpit display panels, and keyboards in Canada, the United States, Asia, Europe, and internationally. It operates in two segments, FTG Circuits and FTG Aerospace. The FTG Circuits segment provides microvia technologies; buried capacitance, and blind and buried vias; multilayer boards; conducive filled vias; custom millings; cavity boards; metal core constructions; multiple sequential laminations; tented, filled, and flushed plugged vias; differential and controlled impedance products; and embedded filters and inductors, as well as mixed dielectric boards and back planes. It also provides design assistance and 3D modelling; controlled depth drilling; buried resistor layer; performance testing; and back drilling services, as well as engineering services for avionic, military, telecom, medical, advanced test and measurement, contract manufacturer, and power markets. The FTG Aerospace segment provides panels, bezels, keyboards, caution warning annunciators, electro luminescent lamps, lighting power supplies, and electro mechanical subassemblies; and lighting technologies that are applied in commercial aerospace and military applications. The company was formerly known as Circuit World Corporation and changed its name to Firan Technology Group Corporation in May 2004. Firan Technology Group Corporation was founded in 1983 and is headquartered in Toronto, Canada.

Details
Name: Firan Technology Group Corporation
FTG
Exchange: TSX
Founded: 1983
CA$76,099,273
22,716,201
Website: http://www.ftgcorp.com
Address: Firan Technology Group Corporation
250 Finchdene Square,
Toronto,
Ontario, M1X 1A5,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX FTG Common Shares The Toronto Stock Exchange CA CAD 06. Aug 2002
OTCPK FTGF.F Common Shares Pink Sheets LLC US USD 06. Aug 2002
BST 22F Common Shares Boerse-Stuttgart DE EUR 06. Aug 2002
Number of employees
Current staff
Staff numbers
488
Firan Technology Group employees.
Industry
Electronic Manufacturing Services
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/23 23:55
End of day share price update: 2019/06/21 00:00
Last estimates confirmation: 2019/04/12
Last earnings filing: 2019/04/10
Last earnings reported: 2019/03/01
Last annual earnings reported: 2018/11/30


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.