Findev Inc. provides real estate financing secured by investment properties and real estate developments.
Undervalued with acceptable track record.
Share Price & News
How has Findev's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: TNSG.F has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: TNSG.F underperformed the US Mortgage industry which returned 7.3% over the past year.
Return vs Market: TNSG.F underperformed the US Market which returned 20.1% over the past year.
Price Volatility Vs. Market
How volatile is Findev's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Is Findev undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: TNSG.F ($0.32) is trading below our estimate of fair value ($0.61)
Significantly Below Fair Value: TNSG.F is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: TNSG.F is good value based on its PE Ratio (8.3x) compared to the Mortgage industry average (13.7x).
PE vs Market: TNSG.F is good value based on its PE Ratio (8.3x) compared to the US market (18.4x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate TNSG.F's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: TNSG.F is good value based on its PB Ratio (0.8x) compared to the US Mortgage industry average (1.1x).
How is Findev forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
Forecasted Banks industry annual growth in earnings
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Findev has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.
- Examine whether Findev is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
- While we do not consider unaudited financials to be a reliable enough to include in our analysis, you can access them on the OTC Markets Website. If you are looking for more of a qualitative research into the company, you can access Findev's filings and announcements here.
- Explore growth companies in the Banks industry.
How has Findev performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: TNSG.F has high quality earnings.
Growing Profit Margin: TNSG.F's current net profit margins (-19.9%) are lower than last year (12.3%).
Past Earnings Growth Analysis
Earnings Trend: TNSG.F has become profitable over the past 5 years, growing earnings by 64.7% per year.
Accelerating Growth: TNSG.F's earnings growth over the past year (12.7%) is below its 5-year average (64.7% per year).
Earnings vs Industry: TNSG.F earnings growth over the past year (12.7%) exceeded the Mortgage industry 11.1%.
Return on Equity
High ROE: TNSG.F's Return on Equity (9.4%) is considered low.
Return on Assets
Return on Capital Employed
How is Findev's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Inventory Level: TNSG.F has a low level of unsold assets or inventory.
Debt Coverage by Assets: Insufficient data to determine if TNSG.F's debt is covered by short term assets.
Cash Runway Analysis
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: TNSG.F is profitable, therefore cash runway is not a concern.
Forecast Cash Runway: TNSG.F is profitable, therefore cash runway is not a concern.
Financial Institutions Analysis
Asset Level: TNSG.F's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if TNSG.F has a sufficient allowance for bad loans.
Low Risk Liabilities: TNSG.F reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if TNSG.F has an acceptable proportion of non-loan assets held.
Low Risk Deposits: TNSG.F has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if TNSG.F has an appropriate level of bad loans.
What is Findev's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: TNSG.F's dividend (6.45%) is higher than the bottom 25% of dividend payers in the US market (1.44%).
High Dividend: TNSG.F's dividend (6.45%) is in the top 25% of dividend payers in the US market (3.69%)
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, TNSG.F has been paying a dividend for less than 10 years.
Growing Dividend: TNSG.F has only been paying a dividend for 3 years, and since then payments have not increased.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (53.3%), TNSG.F's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
How experienced are the management team and are they aligned to shareholders interests?
Average board tenure
Yisroel Weinreb (39yo)
Mr. Sruli Weinreb, also known as Yisroel, has been the Chief Executive Officer of Findev Inc., since September 23, 2016. He serves as Director of Senternet Phi Gamma Inc. since June 13, 2018. Mr. Weinreb i ...
CEO Compensation Analysis
Compensation vs Market: Yisroel's total compensation ($USD68.03K) is below average for companies of similar size in the US market ($USD521.92K).
Compensation vs Earnings: Yisroel's compensation has been consistent with company performance over the past year.
|CEO & Director||3.4yrs||CA$90.00k||0.096% CA$9.7k|
|Independent Director||3.4yrs||CA$750.00||0.58% CA$58.6k|
|Chairman of the Board||4.3yrs||CA$1.00k||0.59% CA$59.8k|
|Independent Director||3.4yrs||CA$750.00||no data|
|Independent Director||3.4yrs||CA$750.00||0.24% CA$24.0k|
Experienced Board: TNSG.F's board of directors are considered experienced (3.4 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Findev Inc.'s company bio, employee growth, exchange listings and data sources
- Name: Findev Inc.
- Ticker: TNSG.F
- Exchange: OTCPK
- Founded: 2001
- Industry: Thrifts and Mortgage Finance
- Sector: Banks
- Market Cap: CA$13.321m
- Listing Market Cap: CA$10.069m
- Shares outstanding: 28.65m
- Website: https://www.findev.ca
Number of Employees
- Findev Inc.
- 10 Wanless Avenue
- Suite 201
- M4N 1V6
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|FDI||TSXV (TSX Venture Exchange)||Yes||Class A Common Shares||CA||CAD||Nov 2005|
|TNSG.F||OTCPK (Pink Sheets LLC)||Yes||Class A Common Shares||US||USD||Nov 2005|
|0T41||DB (Deutsche Boerse AG)||Yes||Class A Common Shares||DE||EUR||Nov 2005|
Findev Inc. provides real estate financing secured by investment properties and real estate developments. It primarily focuses on lending to residential and retail development projects. The company was formerly known as TransGaming Inc. and changed its name to Findev Inc. in October 2016. Findev Inc. was founded in 2001 and is headquartered in Toronto, Canada.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/02/18 00:48|
|End of Day Share Price||2020/02/13 00:00|
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.