Exchange Income Future Growth

Future criteria checks 4/6

Exchange Income is forecast to grow earnings and revenue by 23.2% and 8.8% per annum respectively. EPS is expected to grow by 17.1% per annum. Return on equity is forecast to be 13.7% in 3 years.

Key information

23.2%

Earnings growth rate

17.07%

EPS growth rate

Airlines earnings growth	12.6%
Revenue growth rate	8.8%
Future return on equity	13.70%
Analyst coverage	Good
Last updated	03 Mar 2026

Recent future growth updates

Recent updates

Long Term Defense And Infrastructure Demand Will Support This Undervalued Aviation And Manufacturing Group

Feb 26Catalysts About Exchange Income Exchange Income Corporation operates a diversified group of aviation and manufacturing businesses across essential air services, aerospace, defense, environmental access solutions and precision manufacturing. What are the underlying business or industry changes driving this perspective?

Exchange Income (TSE:EIF) Takes On Some Risk With Its Use Of Debt

Dec 31

At CA$79.55, Is It Time To Put Exchange Income Corporation (TSE:EIF) On Your Watch List?

Dec 01

Exchange Income Corporation Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions

May 15

Exchange Income Corporation's (TSE:EIF) Popularity With Investors Is Clear

May 08

Exchange Income (TSE:EIF) Has Affirmed Its Dividend Of CA$0.22

Apr 20

Exchange Income (TSE:EIF) Will Pay A Dividend Of CA$0.22

Mar 21

Solid Earnings May Not Tell The Whole Story For Exchange Income (TSE:EIF)

Mar 06

Is There An Opportunity With Exchange Income Corporation's (TSE:EIF) 48% Undervaluation?

Feb 07

US Expansion And Spartan Acquisition Will Strengthen Future Market Position

Jan 18 The acquisition of Spartan and product diversification into new regions are key growth strategies, enhancing revenue and market expansion opportunities.

Does Exchange Income (TSE:EIF) Have A Healthy Balance Sheet?

Jan 09

Exchange Income (TSE:EIF) Will Pay A Dividend Of CA$0.22

Dec 21

Exchange Income's (TSE:EIF) Returns Have Hit A Wall

Dec 11

Exchange Income (TSE:EIF) Is Due To Pay A Dividend Of CA$0.22

Nov 19

Earnings Beat: Exchange Income Corporation Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models

Nov 09

Earnings and Revenue Growth Forecasts

TSX:EIF - Analysts future estimates and past financials data (CAD Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2028	4,292	N/A	401	735	3
12/31/2027	4,017	268	347	716	12
12/31/2026	3,747	213	293	603	12
12/31/2025	3,277	168	-82	648	N/A
9/30/2025	3,036	144	-58	508	N/A
6/30/2025	2,786	131	-60	448	N/A
3/31/2025	2,726	124	-125	395	N/A
12/31/2024	2,660	121	-133	357	N/A
9/30/2024	2,629	122	-135	386	N/A
6/30/2024	2,607	116	-111	379	N/A
3/31/2024	2,573	120	-104	415	N/A
12/31/2023	2,498	122	-153	353	N/A
9/30/2023	2,385	120	-94	353	N/A
6/30/2023	2,284	120	-67	341	N/A
3/31/2023	2,186	113	-91	299	N/A
12/31/2022	2,059	110	-31	335	N/A
9/30/2022	1,906	106	-95	244	N/A
6/30/2022	1,720	79	-102	238	N/A
3/31/2022	1,513	65	-34	242	N/A
12/31/2021	1,413	69	6	285	N/A
9/30/2021	1,325	59	24	270	N/A
6/30/2021	1,222	54	76	253	N/A
3/31/2021	1,143	40	132	283	N/A
12/31/2020	1,150	28	114	260	N/A
9/30/2020	1,211	40	88	262	N/A
6/30/2020	1,269	52	43	256	N/A
3/31/2020	1,351	71	-6	228	N/A
12/31/2019	1,341	84	-38	217	N/A
9/30/2019	1,294	77	N/A	252	N/A
6/30/2019	1,247	72	N/A	196	N/A
3/31/2019	1,234	70	N/A	184	N/A
12/31/2018	1,203	71	N/A	165	N/A
9/30/2018	1,152	69	N/A	88	N/A
6/30/2018	1,097	69	N/A	127	N/A
3/31/2018	1,056	75	N/A	134	N/A
12/31/2017	1,013	72	N/A	124	N/A
9/30/2017	971	69	N/A	140	N/A
6/30/2017	942	66	N/A	117	N/A
3/31/2017	896	57	N/A	125	N/A
12/31/2016	891	61	N/A	137	N/A
9/30/2016	894	58	N/A	137	N/A
6/30/2016	882	53	N/A	145	N/A
3/31/2016	851	49	N/A	106	N/A
12/31/2015	807	40	N/A	107	N/A
9/30/2015	722	13	N/A	116	N/A
6/30/2015	652	2	N/A	105	N/A
3/31/2015	590	-10	N/A	117	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: EIF's forecast earnings growth (23.2% per year) is above the savings rate (2.9%).

Earnings vs Market: EIF's earnings (23.2% per year) are forecast to grow faster than the Canadian market (12% per year).

High Growth Earnings: EIF's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: EIF's revenue (8.8% per year) is forecast to grow faster than the Canadian market (6.4% per year).

High Growth Revenue: EIF's revenue (8.8% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: EIF's Return on Equity is forecast to be low in 3 years time (13.7%).

Discover growth companies

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/03/08 03:17
End of Day Share Price	2026/03/06 00:00
Earnings	2025/12/31
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

Exchange Income Corporation is covered by 15 analysts. 12 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
Christopher Murray	ATB Cormark
Michael Goldie	BMO Capital Markets Equity Research
Matthew Lee	Canaccord Genuity

Exchange Income Future Growth

Future criteria checks 4/6

Key information

Recent future growth updates

Consensus EPS estimates fall by 13%, revenue upgraded

Price target increased by 16% to CA$121

Price target increased by 7.3% to CA$100

Consensus EPS estimates fall by 14%, revenue upgraded

Price target increased by 7.2% to CA$89.54

Price target increased by 9.2% to CA$79.38

Recent updates

Exchange Income Corporation announced that it has received CAD 600 million in funding

Consensus EPS estimates fall by 13%, revenue upgraded

Price target increased by 16% to CA$121

Long Term Defense And Infrastructure Demand Will Support This Undervalued Aviation And Manufacturing Group

Full year 2025 earnings: EPS and revenues exceed analyst expectations

Dividend of CA$0.23 announced

Exchange Income Corporation Declares Dividend for the Month Ended February 28, 2026, Payable March 13, 2026

Price target increased by 7.3% to CA$100

Exchange Income Corporation to Report Q4, 2025 Results on Feb 24, 2026

Dividend of CA$0.23 announced

Exchange Income Corporation Announces January 2026 Dividend, Payable on February 13, 2026

New minor risk - Shareholder dilution

Executive Vice Chairman recently sold CA$588k worth of stock

Exchange Income (TSE:EIF) Takes On Some Risk With Its Use Of Debt

Dividend of CA$0.23 announced

Exchange Income Corporation Announces Dividend for Month Ended December 31, 2025, Payable January 15, 2026

At CA$79.55, Is It Time To Put Exchange Income Corporation (TSE:EIF) On Your Watch List?

Dividend of CA$0.23 announced

Exchange Income Corporation Announces Dividend for Month Ended November 30, 2025, Payable December 15, 2025

Impressive Earnings May Not Tell The Whole Story For Exchange Income (TSE:EIF)

Consensus EPS estimates fall by 14%, revenue upgraded

Price target increased by 7.2% to CA$89.54

Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind

Exchange Income (TSE:EIF) Will Pay A Dividend Of CA$0.22

Dividend of CA$0.22 announced

Exchange Income Corporation Announces Dividend for Month Ended October 31, 2025, Payable November 14, 2025

Exchange Income Corporation to Report Q3, 2025 Results on Nov 06, 2025

Exchange Income (TSE:EIF) Is Due To Pay A Dividend Of CA$0.22

Dividend of CA$0.22 announced

Exchange Income Corporation Announces Dividend for the Month Ended September 30, 2025 , Payable on October 15, 2025

Dividend of CA$0.22 announced

Exchange Income Corporation Announces Dividend for the Month of August 2025, Payable on September 15, 2025

Price target increased by 9.2% to CA$79.38

Second quarter 2025 earnings: EPS and revenues miss analyst expectations

Exchange Income (TSE:EIF) Is Paying Out A Dividend Of CA$0.22

Dividend of CA$0.22 announced

Exchange Income Corporation Announces Dividend for July 2025, Payable July 31, 2025

Exchange Income Corporation to Report Q2, 2025 Results on Aug 11, 2025

We Think Exchange Income (TSE:EIF) Is Taking Some Risk With Its Debt

Exchange Income Corporation (TSX:EIF) completed the acquisition of Bradley Air Services Limited from Makivik Corporation, Air NorTerra Inc., and sellers.

Exchange Income (TSE:EIF) Will Pay A Dividend Of CA$0.22

Dividend of CA$0.22 announced

Exchange Income Corporation Declares Dividend for the Month Ended June 30, 2025, Payable on July 15, 2025

Now 21% undervalued

Exchange Income (TSE:EIF) Has Affirmed Its Dividend Of CA$0.22

Consensus EPS estimates fall by 10%

Dividend of CA$0.22 announced

Exchange Income Corporation Declares Dividend for the Month Ended May 31, 2025 Payable June 13, 2025

Executive Vice Chairman recently sold CA$291k worth of stock

Exchange Income Corporation Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions

First quarter 2025 earnings: EPS exceeds analyst expectations

Exchange Income Corporation's (TSE:EIF) Popularity With Investors Is Clear

Exchange Income (TSE:EIF) Has Affirmed Its Dividend Of CA$0.22

Dividend of CA$0.22 announced

Exchange Income Corporation Declares Dividend for the Month Ending April 30, 2025, Payable May 15, 2025

Exchange Income Corporation to Report Q1, 2025 Results on May 12, 2025

Exchange Income (TSE:EIF) Will Pay A Dividend Of CA$0.22

Dividend of CA$0.22 announced

Exchange Income Corporation Declares Dividend for the Month Ended March 31, 2025; Payable on April 15, 2025

Exchange Income Corporation, Annual General Meeting, May 13, 2025

Solid Earnings May Not Tell The Whole Story For Exchange Income (TSE:EIF)

Consensus EPS estimates fall by 14%

Full year 2024 earnings: EPS misses analyst expectations

Exchange Income Corporation (TSX:EIF) signed a binding purchase agreement to acquire Bradley Air Services Limited from Makivik Corporation for approximately CAD 210 million.

Dividend of CA$0.22 announced

Exchange Income Corporation Declares Dividend for the Month Ended February 28, 2025 Payable on March 14, 2025

Is There An Opportunity With Exchange Income Corporation's (TSE:EIF) 48% Undervaluation?

Dividend of CA$0.22 announced

Exchange Income Corporation to Report Q4, 2024 Results on Feb 26, 2025