Canaccord Genuity (TSE:CF)
TSX:CF
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Canaccord Genuity
(TSX:CF)
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Rating:53Neutral
Price Target:
C$13.00
▲(0.62% Upside)
Action:Reiterated
Date:03/26/26
The score is held back primarily by weak financial quality (net losses and a sharp increase in leverage) and bearish technical momentum. These are partly offset by a solid valuation/dividend profile and a positive latest earnings call showing strong quarterly operating momentum, though management expects some moderation and noted regulatory and concentration risks.
Positive Factors
Free Cash Flow Strength
Sustained trailing‑12‑month operating and free cash flow of roughly $544M/$531M gives the firm durable internal funding for dividends, M&A and working capital. Strong FCF enhances financial flexibility to support strategic initiatives despite volatile earnings.
Negative Factors
Elevated Leverage and Losses
A sharp rise to ~2.33x TTM debt‑to‑equity coupled with ongoing net losses materially increases balance‑sheet sensitivity to market shocks. High leverage constrains capital allocation, raises refinancing risk and limits the firm's buffer during cyclical downturns in capital‑markets activity.
Read all positive and negative factors
Positive Factors
Negative Factors
Free Cash Flow Strength
Sustained trailing‑12‑month operating and free cash flow of roughly $544M/$531M gives the firm durable internal funding for dividends, M&A and working capital. Strong FCF enhances financial flexibility to support strategic initiatives despite volatile earnings.
Read all positive factors
Canaccord Genuity (CF) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$1.25B
Dividend Yield2.96%
Average Volume (3M)124.26K
Price to Earnings (P/E)12.7
Beta (1Y)1.34
Revenue Growth21.34%
EPS Growth-505.84%
CountryCA
Employees2,892
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)-2.18
Shares Outstanding102,734,160
10 Day Avg. Volume176,685
30 Day Avg. Volume124,263
Financial Highlights & Ratios
PEG Ratio0.84
Price to Book (P/B)0.82
Price to Sales (P/S)0.55
P/FCF Ratio-21.21
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.23
Revenue Forecast (FY)C$2.21B
Canaccord Genuity Business Overview & Revenue Model
Company Description
Canaccord Genuity Group Inc., a full-service financial services company, provides investment products, and investment banking and brokerage services to institutional, corporate, and private clients. It operates in two segments, Canaccord Genuity C...
How the Company Makes Money
Canaccord Genuity primarily makes money through a mix of capital markets and wealth management revenues. In its Capital Markets segment, revenue is generated from (1) investment banking fees for advising on mergers and acquisitions and other corpo...
Canaccord Genuity Earnings Call Summary
Earnings Call Date:Feb 13, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Jun 10, 2026
Earnings Call Sentiment Positive
The call highlighted robust top-line growth, materially higher profitability and margin expansion driven by strong capital markets and wealth management activity, record client assets, strategic M&A and targeted cost reductions. Key risks include regulatory uncertainty in the U.S., concentration of recent revenue in commodity-driven sectors that may moderate, and temporary margin pressure in the U.K. business. Overall, the company’s positive operating momentum and strategic actions outweigh the noted execution and market risks in the near term.Positive Updates
Record Quarterly Revenue
Firm-wide revenue of $616 million for the quarter, up 37% year-over-year and 16% sequentially, representing the company's second-highest quarterly revenue on record.
Negative Updates
Regulatory Uncertainty in U.S.
Ongoing engagement with U.S. regulators on previously disclosed enforcement matters; timing and final terms of a potential unified resolution remain uncertain and have taken longer than expected.
Read all updates
Q3-2026 Updates
Positive
Negative
Record Quarterly Revenue
Firm-wide revenue of $616 million for the quarter, up 37% year-over-year and 16% sequentially, representing the company's second-highest quarterly revenue on record.
Read all positive updates
Company Guidance
Management's guidance acknowledged that while Q3 delivered exceptionally strong results—firm‑wide revenue of $616 million (up 37% YoY, 16% sequential), Capital Markets revenue of $301 million (up 43% YoY) and Wealth Management revenue of $304 million (up 30% YoY), adjusted pretax net income of $81 million (up 103% YoY) and EPS of $0.36—they expect some moderation from those elevated levels even as market conditions remain broadly supportive. They pointed to record commodity prices and healthier small/mid‑cap equity markets as drivers likely to continue to underpin capital‑raising and advisory activity, and signaled regionally that Canadian Capital Markets should remain solid, U.S. and U.K. Capital Markets are expected to improve, and Australia may be seasonally slower; they also expect Wealth Management to sustain client‑asset growth (client assets at $145 billion, +26% YoY) with positive net flows. Management expects U.S. Capital Markets margins to improve following the sale of the U.S. market‑making business and the CRC‑IB acquisition, reiterated their single‑digit growth objective for the fiscal year (9‑month YTD performance has already exceeded that target), noted continued working‑capital flexibility, announced a quarterly dividend of $0.085, and confirmed they will retain control (>50% ownership) of the Australian business after the planned rights offering.Canaccord Genuity Financial Statement Overview
Summary
Income Statement
42
Neutral
Balance Sheet
38
Negative
Cash Flow
67
Positive
| Breakdown | TTM | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.08B | 1.48B | 1.51B | 2.05B | 2.01B | 1.22B |
| Gross Profit | 1.07B | 535.65M | 477.44M | 694.99M | 657.64M | 401.59M |
| EBITDA | 119.03M | 217.81M | 88.08M | 453.35M | 449.46M | 189.16M |
| Net Income | -205.29M | -13.16M | -90.10M | 246.31M | 263.79M | 86.49M |
Balance Sheet | ||||||
| Total Assets | 6.61B | 6.13B | 6.30B | 7.25B | 7.63B | 5.96B |
| Cash, Cash Equivalents and Short-Term Investments | 2.30B | 1.43B | 1.72B | 2.84B | 2.92B | 1.93B |
| Total Debt | 1.39B | 604.75M | 433.86M | 285.09M | 348.83M | 334.39M |
| Total Liabilities | 5.50B | 4.77B | 4.90B | 5.83B | 6.52B | 5.03B |
| Stockholders Equity | 694.35M | 995.64M | 1.05B | 1.18B | 1.11B | 928.62M |
Cash Flow | ||||||
| Free Cash Flow | 531.31M | -38.56M | -612.77M | 248.59M | 1.09B | 362.31M |
| Operating Cash Flow | 544.35M | -12.88M | -584.42M | 263.25M | 1.10B | 368.67M |
| Investing Cash Flow | -65.18M | -32.79M | -288.11M | -202.00M | -86.13M | -49.92M |
| Financing Cash Flow | 10.01M | -110.60M | 71.22M | -142.86M | -117.64M | -147.34M |
Canaccord Genuity Technical Analysis
Positive
12.92
Price Trends
12.06
Positive
12.06
Positive
11.38
Positive
Market Momentum
<0.01
Positive
49.02
Neutral
41.52
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:CF, the sentiment is Positive. The current price of 12.92 is above the 20-day moving average (MA) of 12.22, above the 50-day MA of 12.06, and above the 200-day MA of 11.38, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 49.02 is Neutral, neither overbought nor oversold. The STOCH value of 41.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:CF.
Canaccord Genuity Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | C$144.96M | 18.42 | 7.24% | ― | -15.95% | 374.56% | |
61 Neutral | C$81.76M | -1.03 | -23.88% | ― | -37.96% | -162.06% | |
53 Neutral | C$1.25B | 12.71 | -25.39% | 2.96% | 21.34% | -505.84% | |
43 Neutral | C$3.69M | -3.12 | -66.57% | ― | 3.12% | 3.37% | |
40 Underperform | C$6.67M | -6.14 | 100.46% | ― | ― | 67.58% |
* Financial Sector Average
TSE:CF
Canaccord Genuity
12.13
2.92
31.63%
TSE:CXI
Currency Exchange International
24.39
3.59
17.26%
TSE:RICH
Raffles Financial Group
2.85
0.00
0.00%
TSE:PNP
Pinetree Capital
8.71
-9.56
-52.33%
TSE:DELX
DelphX Capital Markets
0.03
-0.07
-70.00%
TSE:FRNT
FRNT Financial, Inc.
0.12
-0.33
-73.86%
Canaccord Genuity Corporate Events
Business Operations and StrategyFinancial DisclosuresLegal ProceedingsRegulatory Filings and Compliance
Canaccord Genuity Finalizes US$80 Million Settlements on U.S. Regulatory Cases
Negative
Mar 6, 2026
Canaccord Genuity Group Inc.’s U.S. broker-dealer, Canaccord Genuity LLC, has reached final settlement agreements with the SEC, FINRA, and FinCEN over previously disclosed U.S. regulatory enforcement matters. The coordinated resolution, tota...
Financial Disclosures
Canaccord Genuity Sets February Dates for Q3 2026 Results Release and Investor Call
Neutral
Jan 30, 2026
Canaccord Genuity Group Inc. will release its third quarter fiscal 2026 financial results and supplementary information after the close of Canadian markets on February 13, 2026, followed by a conference call and webcast on February 17, 2026. The c...
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.