Pineapple Financial (PAPL)
XASE:PAPL
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Pineapple Financial
(NYSE MKT:PAPL)
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Rating:44Neutral
Price Target:
$0.60
▼(-62.38% Downside)
Action:ReiteratedDate:03/19/26
The score is held down primarily by weak financial fundamentals—large losses, negative equity, and continued cash burn. Technicals also remain bearish with the price below key moving averages and a negative MACD. Corporate governance developments are a modest positive, but valuation is not compelling given the company is still unprofitable and offers no dividend.
Positive Factors
Rebound in Revenue and High Gross Margin
A sharp TTM revenue rebound and ~59% gross margin indicate the core mortgage-brokerage economics can be highly profitable at scale. Sustained high gross margins provide structural leverage to operating profitability as origination volumes normalize, supporting durable unit economics if revenue growth persists.
Negative Factors
Negative Stockholders' Equity
A negative equity position (~-$5.5M) materially weakens financial flexibility and elevates perceived leverage despite modest nominal debt. It constrains strategic options, can hinder lender and counterparty confidence, and increases the risk of dilutive capital raises or covenant pressure over the coming months.
Read all positive and negative factors
Positive Factors
Negative Factors
Rebound in Revenue and High Gross Margin
A sharp TTM revenue rebound and ~59% gross margin indicate the core mortgage-brokerage economics can be highly profitable at scale. Sustained high gross margins provide structural leverage to operating profitability as origination volumes normalize, supporting durable unit economics if revenue growth persists.
Read all positive factors
Pineapple Financial (PAPL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$16.20M
Dividend YieldN/A
Average Volume (3M)176.40K
Price to Earnings (P/E)―
Beta (1Y)-1.00
Revenue Growth6.26%
EPS Growth50.57%
CountryUS
Employees55
SectorFinancial
Sector Strength70
IndustryFinancial - Mortgages
Share Statistics
EPS (TTM)N/A
Shares Outstanding26,088,652
10 Day Avg. Volume70,466
30 Day Avg. Volume176,398
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)2.95
Price to Sales (P/S)0.90
P/FCF Ratio-1.42
Enterprise Value/Market Cap0.04
Enterprise Value/Revenue0.10
Enterprise Value/Gross Profit0.50
Enterprise Value/Ebitda-0.08
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.31
Revenue Forecast (FY)$4.00M
Pineapple Financial Business Overview & Revenue Model
Company Description
Pineapple Financial Inc. operates as a mortgage technology and brokerage company in Canada. The company offers mortgage brokerage services and technology solutions to Canadian mortgage agents, brokers, sub-brokers, brokerages, and consumers throug...
How the Company Makes Money
Pineapple Financial primarily makes money by earning fees and commissions tied to the successful arrangement and funding of mortgages for its clients. Key revenue streams typically include: (1) lender-paid commissions: compensation paid by banks a...
Pineapple Financial Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
22
Negative
Cash Flow
24
Negative
| Breakdown | Nov 2025 | Nov 2024 | Nov 2023 | Aug 2022 | Aug 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.99M | 2.69M | 2.50M | 3.60M | 16.12M |
| Gross Profit | 1.34M | 252.20K | 172.14K | 1.24M | 2.87M |
| EBITDA | -2.43M | -3.17M | -2.31M | -2.46M | -180.18K |
| Net Income | -3.64M | -4.10M | -2.81M | -2.81M | -234.68K |
Balance Sheet | |||||
| Total Assets | 5.42M | 4.10M | 4.63M | 6.43M | 7.58M |
| Cash, Cash Equivalents and Short-Term Investments | 2.12M | 580.36K | 720.37K | 3.90M | 7.01M |
| Total Debt | 1.33M | 977.11K | 1.54M | 1.02M | 263.24K |
| Total Liabilities | 4.51M | 2.75M | 2.84M | 1.80M | 662.56K |
| Stockholders Equity | 906.68K | 1.35M | 1.79M | 4.63M | 6.92M |
Cash Flow | |||||
| Free Cash Flow | -1.89M | -2.83M | -3.48M | -2.89M | 606.92K |
| Operating Cash Flow | -946.82K | -1.71M | -2.12M | -1.83M | 668.55K |
| Investing Cash Flow | -944.19K | -1.12M | -1.36M | -1.05M | -101.35K |
| Financing Cash Flow | 3.45M | 2.91M | 349.01K | -61.47K | 6.27M |
Pineapple Financial Technical Analysis
Negative
1.60
Price Trends
0.71
Negative
1.53
Negative
2.87
Negative
Market Momentum
-0.03
Negative
43.96
Neutral
60.94
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PAPL, the sentiment is Negative. The current price of 1.6 is above the 20-day moving average (MA) of 0.67, above the 50-day MA of 0.71, and below the 200-day MA of 2.87, indicating a bearish trend. The MACD of -0.03 indicates Negative momentum. The RSI at 43.96 is Neutral, neither overbought nor oversold. The STOCH value of 60.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PAPL.
Pineapple Financial Risk Analysis
Pineapple Financial disclosed 58 risk factors in its most recent earnings report. Pineapple Financial reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Pineapple Financial Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $251.38M | 3.56 | 8.71% | ― | 3.25% | -37.79% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
62 Neutral | $732.13M | 7.28 | 16.95% | ― | 36.73% | 27.50% | |
53 Neutral | $74.23M | 17.89 | 3.21% | ― | ― | -30.69% | |
49 Neutral | $21.81M | -0.19 | -1.25% | ― | ― | ― | |
46 Neutral | $114.24M | -20.98 | -2.01% | 18.74% | -12.56% | -69.72% | |
44 Neutral | $16.20M | -0.17 | 1255.72% | ― | 6.26% | 50.57% |
* Financial Sector Average
PAPL
Pineapple Financial
0.62
-5.03
-89.01%
GHI
Greystone Housing Impact Investors
4.91
-5.36
-52.20%
SNFCA
Security National Financial
9.70
0.53
5.77%
CNF
CNFinance Holdings
3.18
-3.86
-54.83%
IOR
Income Opportunity Realty Investors
18.26
0.77
4.37%
VEL
Velocity Financial
18.66
1.01
5.72%
Pineapple Financial Corporate Events
Executive/Board ChangesShareholder Meetings
Pineapple Financial Shareholders Reelect Board, Confirm Auditor
Positive
Mar 18, 2026
At its annual meeting of stockholders held on March 13, 2026, Pineapple Financial Inc. shareholders elected six directors, including Shubha Dasgupta and Kendall Marin, to serve until the 2027 annual meeting or until successors are chosen. Voting r...
Business Operations and StrategyExecutive/Board Changes
Pineapple Financial Formalizes Executive Contracts, Strengthens Governance Framework
Positive
Feb 10, 2026
On February 5, 2026, Pineapple Financial’s board approved new three-year employment agreements for Chief Executive Officer Shubha Dasgupta and President and Chief Operating Officer Kendall Marin, each with an annual base salary of $280,000, ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.