Currency Exchange International (CXI) AI Stock Analysis

• Market Cap: C$162.39M
• Dividend Yield: N/A
• Average Volume (3M): 3.22K
• Price to Earnings (P/E): 10.2
• Beta (1Y): 0.03
• Revenue Growth: -4.76%
• EPS Growth: -40.05%
• Country: CA
• Employees: 397
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Capital Markets
• EPS (TTM): N/A
• Shares Outstanding: 5,959,120
• 10 Day Avg. Volume: 2,883
• 30 Day Avg. Volume: 3,220
• PEG Ratio: 0.03
• Price to Book (P/B): 1.24
• Price to Sales (P/S): 1.45
• P/FCF Ratio: 9.12
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$32.00
• Price Target Upside: 39.49% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): 1.94
• Revenue Forecast (FY): C$74.10M

• Rating: 76 Outperform
• Price Target: C$31.00 ▲(35.14% Upside)
• Action: Upgraded Date: 01/26/26
• Date: Action: Upgraded 01/26/26

The score is driven primarily by solid financial performance (strong profitability and conservative leverage) and a positive earnings-call outlook around payments momentum and strong liquidity. Technicals are supportive with price above key averages, though short-term momentum looks somewhat stretched. Valuation appears reasonable on a ~10x P/E, but the absence of dividend data and the company’s revenue/cash-flow volatility temper the overall rating.

Positive Factors

Conservative balance sheet

Very low leverage and sizable equity provide a durable capital buffer against shocks, supporting operational continuity, funding for growth or M&A, and the ability to absorb stranded costs. Conservative capitalization reduces refinancing risk and preserves strategic optionality over 2–6 months.

Payments momentum and diversification

Rapid payments growth diversifies revenue beyond banknotes, reducing dependence on travel cycles. Integrations (Jack Henry, Fiserv), Fed Direct SaaS use and stablecoin testing indicate durable capability expansion, improving recurring fee potential and structural revenue mix over coming quarters.

Strong liquidity and cash balances

Large cash and liquid investments, plus unused credit, give management flexibility for buybacks, selective accretive M&A, or special distributions without stressing operations. High liquidity supports payments scale-up and covers short-term stranded costs while preserving balance-sheet stability.

Negative Factors

Cash-flow volatility

Large year-to-year swings in operating and free cash flow indicate sensitivity to working capital and transaction volumes. This undermines predictability for reinvestment, dividends, buybacks or M&A and raises execution risk if payment volumes or banknote cycles reverse in the next several quarters.

Residual EBC costs and regulatory timing

Ongoing annualized stranded costs will continue to burden margins until fully resolved. Plus, regulatory approval timing for EBC wind-down affects final asset recovery and cash distribution, creating near-term uncertainty that can delay capital redeployment and profit normalization.

Travel-dependent wholesale revenue volatility

A significant share of revenue is exposed to travel and airport cycles; slower inbound travel and episodic disruptions can pressure top-line growth and operating leverage. Structural dependence on banknote flows limits predictability and constrains margin expansion during travel downturns.

Currency Exchange International Business Overview & Revenue Model

Company Description

Currency Exchange International, Corp., together with its subsidiaries, engages in the money service and payment businesses in the United States and Canada. It offers financial institutions, international wire payments, foreign check clearing, foreign bank note exchange, and foreign draft issuance solutions; corporate, hedge and risk management, and international payment solutions; and international traveler's, foreign currency exchange, bitcoin and ether cryptocurrencies, gold bullion coins and bars, multi-currency cash passport, and American Express traveler's cheque solutions. The company serves financial institutions, and money service businesses, as well as travel, technology, payroll, healthcare, and nonprofit sectors. It operates a network of 35 branches. The company was formerly known as Currency Exchange International, Inc. and changed its name to Currency Exchange International, Corp. in October 2007. Currency Exchange International, Corp. was incorporated in 1998 and is headquartered in Orlando, Florida.

How the Company Makes Money

CXI primarily makes money by charging fees and/or earning a spread on foreign currency transactions—buying and selling currencies at different rates (the difference between the rate it pays and the rate it charges). Key revenue streams include: (1) Retail foreign currency exchange: revenue from customer purchases/sales of foreign banknotes, typically driven by transaction volume and the FX spread, and in some cases service fees. (2) Business and institutional foreign currency services: revenue from providing banknote sourcing, exchange, and related services to businesses and financial institutions, which similarly generate income through FX spreads and service/handling fees. (3) International payments and related services: revenue from facilitating cross-border payments or similar solutions (where offered), generally through transaction fees and/or FX spreads embedded in the conversion rate. Earnings are influenced by transaction volumes, currency market movements (which affect spreads and demand), operational scale and distribution footprint, and the company’s ability to source and distribute banknotes efficiently. Specific partnership details and exact fee schedules are not available here and are therefore null.

Currency Exchange International Financial Statement Overview

Summary

Strong profitability recovery and currently healthy margins, supported by a low-leverage balance sheet. Offsets are inconsistent revenue momentum (2025 contraction) and meaningful year-to-year cash flow volatility (including a 2025 step-down versus 2024).

Income Statement

Profitability improved materially versus 2024, with net income rising to ~10.3M and net margin expanding to ~14.2% (from ~2.9%), alongside stronger operating profitability (EBIT margin ~27.6%). However, revenue declined ~9.6% in 2025 after a strong rebound in prior years, highlighting a less consistent growth trajectory. Longer-term results show a sharp recovery from 2020–2021 losses to solid profitability in 2022–2023, but top-line volatility remains a key watch item.

Balance Sheet

The balance sheet appears conservatively levered, with low debt relative to equity (debt-to-equity ~0.12 in 2025, improving from ~0.22 in 2023). Equity is substantial (~84.7M) against total assets (~122.2M), providing a meaningful buffer. The main weakness is that asset and equity levels have not steadily compounded over the period (assets down versus 2023–2024), suggesting less balance-sheet-driven growth despite solid capitalization.

Cash Flow

Cash generation in 2025 was positive, with operating cash flow ~12.1M and free cash flow ~11.5M, and free cash flow broadly in line with earnings (~95% of net income). That said, cash flow volatility is notable: operating and free cash flow were negative in 2023, and free cash flow dropped sharply in 2025 versus 2024 (when operating cash flow was ~26.7M and free cash flow ~23.7M). This uneven conversion of profits into cash raises execution/working-capital sensitivity risk.

Breakdown	Oct 2025	Oct 2024	Oct 2023	Oct 2022	Oct 2021
Income Statement
Total Revenue	72.38M	85.24M	81.95M	67.50M	30.57M
Gross Profit	64.11M	48.11M	80.94M	41.13M	12.87M
EBITDA	23.28M	13.40M	19.20M	18.83M	3.92M
Net Income	10.31M	2.47M	10.19M	11.78M	-1.13M
Balance Sheet
Total Assets	120.98M	131.16M	132.05M	125.53M	102.98M
Cash, Cash Equivalents and Short-Term Investments	95.47M	101.88M	92.72M	88.56M	66.53M
Total Debt	10.40M	11.34M	17.65M	10.46M	8.11M
Total Liabilities	37.52M	51.77M	52.82M	56.22M	44.97M
Stockholders Equity	84.67M	79.39M	79.23M	69.31M	58.02M
Cash Flow
Free Cash Flow	11.49M	23.67M	-2.42M	24.60M	7.62M
Operating Cash Flow	12.06M	26.67M	-1.13M	25.52M	8.01M
Investing Cash Flow	-1.36M	-3.00M	-1.28M	-1.29M	-764.17K
Financing Cash Flow	-12.70M	-14.32M	6.92M	214.15K	-1.49M

Currency Exchange International Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 22.94
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:CXI, the sentiment is Neutral. The current price of 22.94 is below the 20-day moving average (MA) of 27.93, below the 50-day MA of 25.54, and above the 200-day MA of 22.80, indicating a neutral trend. The MACD of 0.41 indicates Positive momentum. The RSI at 50.42 is Neutral, neither overbought nor oversold. The STOCH value of 46.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:CXI.

Currency Exchange International Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
XAU	79 Outperform	C$224.05M	1.83	22.78%	―	113.25%	―
CXI	76 Outperform	C$162.39M	10.17	7.24%	―	-4.76%	-40.05%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
PNP	61 Neutral	C$93.21M	10.49	38.03%	―	294.30%	49.60%

Currency Exchange International Corporate Events

Currency Exchange International Sets Dates for Q1 2026 Results and Annual Meeting

Currency Exchange International will release its financial results for the first quarter of 2026, ended January 31, after markets close on March 11, 2026, followed by an earnings conference call with management the next morning on March 12 at 8:30 a.m. EST. The company will also hold its 2026 Annual General and Special Meeting of Shareholders in person at its Orlando head office on March 24, 2026, with an option for investors to watch via a non-voting webinar and access related AGM materials, including voting results, once available.

These scheduled disclosures and investor events underscore the company’s efforts to maintain transparency with shareholders and the wider market at the start of its 2026 fiscal year. The timing of the earnings call and AGM suggests management is aiming to actively engage investors around its latest financial and operational performance, as well as key governance matters, which could inform stakeholder expectations for the year ahead.

The most recent analyst rating on (TSE:CXI) stock is a Buy with a C$30.00 price target. To see the full list of analyst forecasts on Currency Exchange International stock, see the TSE:CXI Stock Forecast page.

Currency Exchange International Lifts 2025 Profit as It Exits Canadian Banking Unit

Currency Exchange International reported a 5% increase in revenue and a sharp rise in net income to $10.3 million for fiscal 2025, driven by continued growth in both its Payments and Banknotes businesses. Payments revenue rose 19% on a 31% jump in trading volumes, while Banknotes revenue grew 3%, supported by expanded OnlineFX distribution and new agency partnerships. Adjusted net income from continuing operations climbed to $14.5 million and adjusted diluted EPS to $1.77, with EBITDA and return on equity also improving, while the company maintained a strong capital and liquidity position, with total equity of $84.7 million and net working capital of $73.4 million at year-end. The year also marked a strategic restructuring as the Group wound down its Canadian subsidiary, Exchange Bank of Canada, reclassifying it as a discontinued operation and moving to exit the Bank Act framework, a process that generated a $3.7 million loss from that unit but removed prior-year impairment and regulatory charges. With EBC now ceased and pending final regulatory approval to liquidate and upstream its net assets to the parent, CXI is absorbing shared operating costs estimated at about $3 million annually after tax, a shift that will reshape its cost base even as it refocuses on its core U.S.-led currency and payments operations.

The most recent analyst rating on (TSE:CXI) stock is a Hold with a C$23.00 price target. To see the full list of analyst forecasts on Currency Exchange International stock, see the TSE:CXI Stock Forecast page.

Currency Exchange International Sets January Dates for Q4 and Fiscal 2025 Results and Earnings Call

Currency Exchange International Corp. will release its financial results for the fourth quarter and fiscal year ended October 31, 2025, after markets close on January 21, 2026. The company will follow this with an earnings conference call on January 22, 2026, at 8:30 a.m. EST, where management will review recent financial and operational performance, offering investors and other stakeholders an opportunity to gain insight into the firm’s progress and outlook within the foreign exchange services sector.

The most recent analyst rating on (TSE:CXI) stock is a Hold with a C$23.00 price target. To see the full list of analyst forecasts on Currency Exchange International stock, see the TSE:CXI Stock Forecast page.

Currency Exchange International Sets January Dates for Q4 and Fiscal 2025 Results

Currency Exchange International will release its financial results for the fourth quarter and fiscal year ended October 31, 2025, after markets close on January 21, 2026, and will follow with an earnings conference call on January 22, 2026, to review its recent financial and operational performance. The scheduled disclosure and investor call underscore the company’s ongoing engagement with shareholders and the broader market, offering stakeholders an upcoming view into its business trajectory within the foreign exchange services sector.

The most recent analyst rating on (TSE:CXI) stock is a Hold with a C$23.00 price target. To see the full list of analyst forecasts on Currency Exchange International stock, see the TSE:CXI Stock Forecast page.