Fiera Capital A (FSZ) AI Stock Analysis

• Market Cap: C$704.78M
• Dividend Yield: 9.8%
• Average Volume (3M): 288.21K
• Price to Earnings (P/E): 18.9
• Beta (1Y): 1.45
• Revenue Growth: -1.64%
• EPS Growth: -40.68%
• Country: CA
• Employees: 863
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 0.24
• Shares Outstanding: 87,210,434
• 10 Day Avg. Volume: 275,857
• 30 Day Avg. Volume: 288,207
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• 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$8.00
• Price Target Upside: 21.03% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 62 Neutral
• Price Target: C$7.00 ▲(5.90% Upside)

Fiera Capital A's overall stock score reflects strong operational efficiency and an attractive dividend yield, but is tempered by challenges in revenue growth and high leverage. The earnings call highlighted both achievements and challenges, contributing to a balanced sentiment. Technical indicators suggest a neutral market position.

Positive Factors

Operational Efficiency

Fiera Capital's high gross profit margins and healthy EBIT/EBITDA margins indicate effective cost management and operational efficiency, which are crucial for sustaining profitability and competitive advantage in the asset management industry.

Private Markets Revenue Growth

The growth in private markets revenue highlights Fiera Capital's strategic focus and success in expanding high-margin areas, which can provide a stable income stream and enhance long-term financial performance.

New Mandate Activity

The high level of new mandate activity demonstrates Fiera Capital's ability to attract new business, which is essential for growth and maintaining a competitive position in the asset management sector.

Negative Factors

Revenue Growth Challenges

The significant decline in revenue growth suggests potential market or operational challenges, which could hinder Fiera Capital's ability to expand and maintain its market position over the long term.

High Leverage

The high leverage poses financial risks, particularly in volatile markets, as it may limit Fiera Capital's financial flexibility and ability to invest in growth opportunities or weather economic downturns.

Flat Assets Under Management

Flat AUM growth indicates challenges in attracting new assets or retaining existing ones, which can affect Fiera Capital's revenue potential and market competitiveness in the asset management industry.

Fiera Capital A Business Overview & Revenue Model

Company Description

Fiera Capital Corporation is an employee owned investment manager. The firm primarily provides its services to institutional investors, mutual funds, charitable organizations, and private clients. It manages separate client-focused equity, fixed income, and balanced portfolios. The firm also launches and manages equity, fixed income, and balanced mutual funds and income trusts for its clients. It invests in the public equity and fixed income markets across the globe with a focus on Canada. The firm primarily invests in growth and value stocks of small-cap companies. It also invests in G.A.R.P. and value stocks of large-cap companies. The firm also makes investments in income trusts and preferred shares. It also applies exclusions to be fossil fuel free, integrates environmental, social, and governance considerations, and applies an ethical filter while making its investments. The firm employs fundamental and quantitative analysis along with bottom-up stock picking approach to create its equity portfolios. It employs a top-down macro-economic research to make its fixed income investments. The firm also makes alternative investments, including the use of long/short equity strategy. It benchmarks the performance of its portfolio against the S&P/TSX Index, MSCI ACWI Index, S&P/TSX Composite FFF Index, and S&P 500 indices. The firm conducts in-house research to make its investments. It makes investments in social infrastructure with a focus on affordable housing and community health care facilities and also makes investment in solar and wind power generation, transport, and mid-market assets. It typically invests in Canada. It was formerly known as Fiera Sceptre Inc. Fiera Capital Corporation was founded in 2002 and is based in Montréal, Canada with an additional office in Toronto, Canada, Calgary, Canada, and Vancouver, Canada.

How the Company Makes Money

Fiera Capital makes money primarily through management fees charged for its investment services. These fees are typically calculated as a percentage of the assets under management (AUM) and vary depending on the type of investment product and client. The firm also earns performance fees, which are based on the investment returns generated above a specified benchmark or hurdle rate. Additionally, Fiera Capital leverages strategic partnerships and acquisitions to expand its product offerings and client base, enhancing its revenue streams. The company's earnings are significantly influenced by market conditions, AUM growth, and its ability to attract and retain clients.

Fiera Capital A Financial Statement Overview

Summary

Fiera Capital A shows strong operational efficiency with high gross profit margins and healthy EBIT/EBITDA margins. However, challenges include declining revenue growth and high leverage, which could impact financial stability. Cash flow metrics indicate efficient cash generation, but the recent decline in free cash flow growth is concerning.

Income Statement

Fiera Capital A's income statement shows a mixed performance. The TTM (Trailing-Twelve-Months) gross profit margin is exceptionally high at 98.14%, indicating strong cost management. However, the net profit margin is relatively low at 5.78%, suggesting challenges in converting revenue into net income. The revenue growth rate has declined significantly by 24.23% in the TTM, reflecting potential market or operational challenges. EBIT and EBITDA margins are healthy, showing operational efficiency, but the declining revenue growth is a concern.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio of 2.80 in the TTM, indicating significant leverage and potential financial risk. Return on equity is moderate at 13.50%, showing decent profitability relative to shareholder equity. The equity ratio is not explicitly calculated, but the high leverage suggests a lower proportion of equity in the capital structure, which could pose risks in volatile markets.

Cash Flow

Cash flow analysis shows a decline in free cash flow growth by 8.53% in the TTM, which could impact future investments and debt servicing. The operating cash flow to net income ratio is 0.86, indicating that operating cash flow is relatively aligned with net income. The free cash flow to net income ratio is strong at 0.98, suggesting efficient cash generation relative to net income, despite the recent decline in growth.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	513.29M	676.20M	675.53M	664.89M	737.85M	689.48M
Gross Profit	501.23M	430.91M	444.04M	425.29M	385.53M	340.11M
EBITDA	158.75M	149.50M	189.96M	139.49M	199.00M	130.09M
Net Income	37.99M	24.99M	58.45M	25.35M	73.53M	-3.38M
Balance Sheet
Total Assets	1.21B	1.25B	1.29B	1.33B	1.47B	1.51B
Cash, Cash Equivalents and Short-Term Investments	33.04M	44.56M	75.22M	68.21M	111.98M	72.37M
Total Debt	793.74M	768.51M	732.54M	746.30M	709.54M	767.07M
Total Liabilities	932.69M	957.75M	960.74M	982.45M	1.05B	1.04B
Stockholders Equity	267.18M	285.06M	322.63M	341.05M	415.31M	467.98M
Cash Flow
Free Cash Flow	126.71M	130.98M	135.12M	108.39M	155.15M	133.60M
Operating Cash Flow	130.68M	134.00M	137.97M	113.31M	171.29M	145.38M
Investing Cash Flow	-3.61M	9.39M	3.29M	-6.34M	43.55M	-13.42M
Financing Cash Flow	-135.36M	-175.23M	-137.30M	-148.15M	-179.35M	-159.85M

Fiera Capital A Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 6.61
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FSZ, the sentiment is Negative. The current price of 6.61 is below the 20-day moving average (MA) of 6.79, below the 50-day MA of 6.70, and below the 200-day MA of 6.63, indicating a bearish trend. The MACD of 0.01 indicates Positive momentum. The RSI at 40.88 is Neutral, neither overbought nor oversold. The STOCH value of 6.20 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:FSZ.

Fiera Capital A Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AGF.B	79 Outperform	935.10M	8.09	8.93%	3.33%	11.23%	30.44%
SEC	77 Outperform	915.52M	5.38	9.45%	―	14.62%	―
CVG	77 Outperform	1.01B	8.59	―	0.14%	132.11%	5511.22%
GCG.A	74 Outperform	1.64B	10.55	11.37%	2.91%	96.56%	158.06%
GCG	69 Neutral	1.64B	10.57	11.37%	2.91%	96.56%	158.06%
FSZ	62 Neutral	C$704.78M	18.88	13.48%	9.80%	-1.64%	-40.68%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%

Fiera Capital A Corporate Events

Fiera Capital Reports Slight Decline in Q2 2025 AUM

Fiera Capital Corporation reported a slight decrease in its assets under management (AUM) to C$160.5 billion as of June 30, 2025, down from C$161.6 billion at the end of the previous quarter. This decline was attributed to the wind down of its Canadian Equity Small and Micro Cap strategies, unfavorable foreign exchange impacts, and net outflows from lower-fee Fixed Income strategies. Despite these challenges, the company’s public markets AUM, excluding certain factors, saw a modest increase driven by higher equity markets. The company is set to release its Q2 2025 financial results on August 8, 2025.

The most recent analyst rating on (TSE:FSZ) stock is a Hold with a C$7.50 price target. To see the full list of analyst forecasts on Fiera Capital A stock, see the TSE:FSZ Stock Forecast page.

Fiera Capital Appoints Sandro Muzzo as Global Chief Legal Officer

Fiera Capital Corporation has appointed Sandro Muzzo as its Global Chief Legal Officer. With over 15 years of legal experience, including significant roles within Fiera Capital, Muzzo will lead the firm’s legal functions, providing strategic counsel to its investment platforms and corporate operations. This appointment underscores Fiera Capital’s commitment to legal excellence and highlights Muzzo’s expertise in corporate and securities law, which is expected to support the company’s growth ambitions and strengthen its global operations.

The most recent analyst rating on (TSE:FSZ) stock is a Hold with a C$7.50 price target. To see the full list of analyst forecasts on Fiera Capital A stock, see the TSE:FSZ Stock Forecast page.

Fiera Capital to Terminate Two imaxx Funds by November 2025

Fiera Capital Corporation announced its decision to terminate the imaxx Canadian Fixed Pay Fund and the imaxx Short Term Bond Fund by November 28, 2025. Unitholders can redeem their units without fees until the termination date, after which they will receive proceeds based on the net asset value of their units. This move reflects a strategic adjustment in Fiera Capital’s fund offerings, potentially impacting stakeholders who are invested in these funds.

The most recent analyst rating on (TSE:FSZ) stock is a Hold with a C$7.50 price target. To see the full list of analyst forecasts on Fiera Capital A stock, see the TSE:FSZ Stock Forecast page.

QIA and Fiera Capital Launch USD 200m Qatar Equity Strategy

Qatar Investment Authority (QIA) and Fiera Capital have launched the Fiera Qatar Equity Strategy, a USD 200 million initiative aimed at delivering superior risk-adjusted returns by investing in equities listed on the Qatar Stock Exchange. This strategy is part of QIA’s Active Asset Management Initiative and reflects its commitment to enhancing Qatar’s financial landscape by partnering with global and local asset managers. QIA acts as the anchor investor, contributing capital in cash and stock, which is expected to boost market participation and liquidity. The strategy is structured as a daily-dealing mutual strategy available to both international and local institutions seeking actively-managed exposure to Qatar’s equity market.

The most recent analyst rating on (TSE:FSZ) stock is a Hold with a C$7.50 price target. To see the full list of analyst forecasts on Fiera Capital A stock, see the TSE:FSZ Stock Forecast page.

Fiera Capital to Manage ATB US Large Cap Equity Fund

Fiera Capital has been selected by ATB Investment Management Inc. to manage the ATB US Large Cap Equity Fund, highlighting a shared commitment to disciplined, research-driven investment solutions. This partnership aims to enhance client outcomes by leveraging Fiera’s expertise and aligns with Fiera’s strategy to expand its institutional-quality investment platform in intermediary channels.

The most recent analyst rating on (TSE:FSZ) stock is a Hold with a C$7.50 price target. To see the full list of analyst forecasts on Fiera Capital A stock, see the TSE:FSZ Stock Forecast page.