Canoe EIT Income Fund (TSE:EIT.UN)
TSX:EIT.UN
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Canoe EIT Income Fund
(TSX:EIT.UN)
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Rating:69Neutral
Price Target:
C$17.50
▲(11.39% Upside)
Action:DowngradedDate:03/21/26
The score is primarily supported by attractive valuation (low P/E and high dividend yield) and a conservatively levered balance sheet. Offsetting these positives are weaker earnings quality due to poor cash conversion and volatile cash flows, plus soft technical momentum with the price below key short-term moving averages.
Positive Factors
Conservative balance sheet
Low leverage and growing equity/assets give the fund financial flexibility during market stress. A modest debt load reduces financing risk for a closed-end income vehicle, supporting sustained distributions and the ability to hold positions through volatility without forced sales.
Negative Factors
Weak cash conversion
Persistent weak or volatile cash generation versus accounting income implies distributions may rely on realized gains or return of capital in down markets. This undermines distribution durability and increases reinvestment pressure if market income softens.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low leverage and growing equity/assets give the fund financial flexibility during market stress. A modest debt load reduces financing risk for a closed-end income vehicle, supporting sustained distributions and the ability to hold positions through volatility without forced sales.
Read all positive factors
Canoe EIT Income Fund (EIT.UN) vs. iShares MSCI Canada ETF (EWC)
Market Cap
N/A
Dividend Yield7.63%
Average Volume (3M)172.19K
Price to Earnings (P/E)7.9
Beta (1Y)0.55
Revenue Growth158.45%
EPS Growth38.65%
CountryCA
Employees98
SectorFinancial
Sector Strength70
IndustryAsset Management - Income
Share Statistics
EPS (TTM)1.05
Shares Outstanding189,728,360
10 Day Avg. Volume210,798
30 Day Avg. Volume172,189
Financial Highlights & Ratios
PEG Ratio-0.18
Price to Book (P/B)0.95
Price to Sales (P/S)7.62
P/FCF Ratio297.00
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)N/A
Revenue Forecast (FY)N/A
Canoe EIT Income Fund Business Overview & Revenue Model
Company Description
Canoe EIT Income Fund is a closed-ended balanced fund launched and managed by Canoe Financial LP. It is co-managed by Haber Trilix Advisors, LP. The fund invests in the public equity and fixed income markets of Canada and the United States. Its eq...
How the Company Makes Money
Canoe EIT Income Fund does not generate operating revenue like a traditional company; instead, it generates investment income and returns from the securities it owns and manages. Its key sources of economic return include: (1) Dividends and distri...
Canoe EIT Income Fund Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
34
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 379.15M | 360.02M | 148.57M | 215.74M | 287.69M |
| Gross Profit | 342.22M | 325.82M | 148.57M | 188.45M | 267.18M |
| EBITDA | 380.26M | 652.65M | 1.73M | 255.37M | 575.86M |
| Net Income | 367.14M | 637.59M | 124.73M | 255.37M | 575.86M |
Balance Sheet | |||||
| Total Assets | 3.32B | 3.09B | 2.66B | 2.51B | 2.24B |
| Cash, Cash Equivalents and Short-Term Investments | 76.77M | 109.97M | 14.77M | 98.23M | 145.48M |
| Total Debt | 256.12M | 269.83M | 95.99M | 98.09M | 91.64M |
| Total Liabilities | 279.15M | 292.17M | 338.30M | 337.22M | 327.44M |
| Stockholders Equity | 3.04B | 2.80B | 2.32B | 2.17B | 1.91B |
Cash Flow | |||||
| Free Cash Flow | 9.72M | 20.14M | -112.77M | -50.13M | -12.09M |
| Operating Cash Flow | 9.72M | 20.14M | -112.77M | -50.13M | -12.09M |
| Investing Cash Flow | 89.01M | 0.00 | -138.50M | -73.46M | -21.14M |
| Financing Cash Flow | -136.59M | -211.83M | 27.59M | 8.68M | 115.42M |
Canoe EIT Income Fund Technical Analysis
Positive
15.71
Price Trends
16.60
Positive
16.06
Positive
15.39
Positive
Market Momentum
0.03
Negative
59.26
Neutral
80.13
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:EIT.UN, the sentiment is Positive. The current price of 15.71 is below the 20-day moving average (MA) of 16.47, below the 50-day MA of 16.60, and above the 200-day MA of 15.39, indicating a bullish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 59.26 is Neutral, neither overbought nor oversold. The STOCH value of 80.13 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:EIT.UN.
Canoe EIT Income Fund Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ― | 7.87 | 16.71% | 7.63% | 158.45% | 38.65% | |
68 Neutral | ― | 9.54 | 31.56% | 7.79% | -14.09% | 224.31% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
61 Neutral | C$83.54M | 10.49 | 11.26% | ― | 294.30% | 49.60% | |
60 Neutral | C$997.45M | 10.30 | 8.17% | 6.43% | 11.16% | -14.26% |
* Financial Sector Average
TSE:EIT.UN
Canoe EIT Income Fund
16.87
3.63
27.44%
TSE:AD.UN
Alaris Royalty
22.00
5.90
36.68%
TSE:BGI.UN
Brookfield Global Infrastructure Securities Income Fund
6.89
2.54
58.39%
TSE:PGI.UN
PIMCO Global Income Opportunities Fund Trust Units
7.11
0.66
10.23%
TSE:PNP
Pinetree Capital
8.90
-6.35
-41.64%
TSE:WI
The Western Investment Company of Canada Ltd
0.89
0.38
74.51%
Canoe EIT Income Fund Corporate Events
Dividends
Canoe EIT Income Fund Declares March 2026 Monthly Distribution
Positive
Mar 6, 2026
Canoe EIT Income Fund, one of Canada’s largest closed-end investment funds listed on the TSX, aims to deliver steady monthly income and capital growth by investing in a diversified portfolio of high-quality securities under the active manage...
Private Placements and Financing
Canoe EIT Income Fund to Raise $300 Million Through New Preferred Unit Offering
Positive
Jan 28, 2026
Canoe EIT Income Fund has announced a $300 million private placement of 12 million cumulative redeemable Series 3 Preferred Units priced at C$25.00 each, carrying an annual fixed cumulative distribution of C$1.25 per unit, payable quarterly. The u...
Dividends
Canoe EIT Income Fund Declares Special Non-Cash Distribution of $0.447 per Unit
Neutral
Jan 13, 2026
Canoe Financial has announced a special non-cash distribution of $0.447 per unit for Canoe EIT Income Fund to unitholders of record on December 31, 2025, with a payment date of January 15, 2026, structured so that no cash actually changes hands. I...
Dividends
Canoe EIT Income Fund Declares January 2026 Monthly Distribution of $0.10 Per Unit
Neutral
Jan 5, 2026
Canoe EIT Income Fund has declared a monthly cash distribution of $0.10 per unit for January 2026, payable on February 13, 2026, to unitholders of record as of January 22, 2026. The announcement underscores the fund’s ongoing focus on delive...
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.