Canaccord Genuity (TSE:CF)
TSX:CF
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Canaccord Genuity
(TSX:CF)
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Rating:63Neutral
Price Target:
C$14.00
▲(8.36% Upside)
Action:Reiterated
Date:06/05/26
Overall score reflects improving operating/cash-flow momentum and a constructive technical setup, supported by a moderate dividend yield and a positive latest earnings call. The main constraints are continued net losses (negative P/E) and higher balance-sheet leverage, which raise risk if earnings normalization slows.
Positive Factors
Diversified revenue mix & record client assets
AUA growth to $145bn (26% YoY) reflects scale in wealth management and recurring asset-based fees. This diversification across wealth and capital markets provides more predictable fee income, cross-sell opportunities and a structural revenue base that cushions transaction volatility over months.
Negative Factors
Elevated leverage after debt rise
Total debt increased sharply, pushing debt/equity to ~1.77. Higher leverage reduces financial flexibility, raises interest and covenant risk, and amplifies earnings swings if revenues moderate, limiting the firm’s ability to respond to adverse market or regulatory developments over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified revenue mix & record client assets
AUA growth to $145bn (26% YoY) reflects scale in wealth management and recurring asset-based fees. This diversification across wealth and capital markets provides more predictable fee income, cross-sell opportunities and a structural revenue base that cushions transaction volatility over months.
Read all positive factors
Canaccord Genuity (CF) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$1.48B
Dividend Yield2.96%
Average Volume (3M)124.26K
Price to Earnings (P/E)―
Beta (1Y)1.32
Revenue Growth26.51%
EPS Growth-384.81%
CountryCA
Employees2,892
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)-1.46
Shares Outstanding102,760,710
10 Day Avg. Volume176,685
30 Day Avg. Volume124,263
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)1.52
Price to Sales (P/S)0.53
P/FCF Ratio1.36
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$16.92Price Target Upside30.93% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)1.23
Revenue Forecast (FY)C$2.21B
Canaccord Genuity Business Overview & Revenue Model
Company Description
Canaccord Genuity Group Inc. functions as a diversified financial services enterprise, delivering a broad spectrum of investment products, along with specialized investment banking and brokerage solutions, to a diverse clientele including institut...
How the Company Makes Money
Canaccord Genuity makes money primarily by earning fees and commissions across investment banking/capital markets, brokerage/trading-related activities, and wealth management. (1) Investment banking and capital markets: The firm earns advisory fee...
Canaccord Genuity Earnings Call Summary
Earnings Call Date:Feb 13, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 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
46
Neutral
Balance Sheet
42
Neutral
Cash Flow
71
Positive
| Breakdown | Mar 2026 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.24B | 1.77B | 1.51B | 2.05B | 2.01B |
| Gross Profit | 1.98B | 634.09M | 477.44M | 694.99M | 657.64M |
| EBITDA | 199.54M | 260.45M | 88.08M | 453.35M | 449.46M |
| Net Income | -132.87M | -17.50M | -90.10M | 246.31M | 263.79M |
Balance Sheet | |||||
| Total Assets | 7.78B | 6.72B | 6.30B | 7.25B | 7.63B |
| Cash, Cash Equivalents and Short-Term Investments | 2.59B | 1.90B | 1.72B | 2.84B | 2.92B |
| Total Debt | 816.43M | 770.83M | 433.86M | 285.09M | 348.83M |
| Total Liabilities | 6.57B | 5.36B | 4.90B | 5.83B | 6.52B |
| Stockholders Equity | 780.61M | 959.79M | 1.05B | 1.18B | 1.11B |
Cash Flow | |||||
| Free Cash Flow | 872.67M | 396.40M | -612.77M | 248.59M | 1.09B |
| Operating Cash Flow | 881.35M | 475.61M | -584.42M | 263.25M | 1.10B |
| Investing Cash Flow | 100.90M | -151.12M | -288.11M | -202.00M | -86.13M |
| Financing Cash Flow | -138.99M | -9.82M | 71.22M | -142.86M | -117.64M |
Canaccord Genuity Technical Analysis
Positive
12.92
Price Trends
12.57
Positive
12.41
Positive
11.69
Positive
Market Momentum
0.45
Negative
70.24
Negative
67.88
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 below the 20-day moving average (MA) of 13.15, above the 50-day MA of 12.57, and above the 200-day MA of 11.69, indicating a bullish trend. The MACD of 0.45 indicates Negative momentum. The RSI at 70.24 is Negative, neither overbought nor oversold. The STOCH value of 67.88 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 |
|---|---|---|---|---|---|---|---|
79 Outperform | C$158.51M | 17.49 | 13.26% | ― | -10.69% | 23.60% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
63 Neutral | C$1.48B | -10.90 | -25.39% | 2.96% | 26.51% | -384.81% | |
55 Neutral | C$83.54M | -4.22 | -23.88% | ― | -37.96% | -162.06% | |
44 Neutral | C$3.21M | -1.53 | -66.57% | ― | -16.24% | 17.37% | |
40 Underperform | C$6.22M | -3.68 | 100.46% | ― | ― | 51.41% |
* Financial Sector Average
TSE:CF
Canaccord Genuity
14.42
5.09
54.54%
TSE:CXI
Currency Exchange International
26.75
6.79
34.02%
TSE:RICH
Raffles Financial Group
2.85
0.00
0.00%
TSE:PNP
Pinetree Capital
8.90
-9.48
-51.58%
TSE:DELX
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0.03
-0.04
-56.92%
TSE:FRNT
FRNT Financial, Inc.
0.10
-0.36
-78.26%
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...
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.