Firan Tech (FTG) AI Stock Analysis

• Market Cap: C$288.24M
• Dividend Yield: N/A
• Average Volume (3M): 50.12K
• Price to Earnings (P/E): 21.4
• Beta (1Y): 1.20
• Revenue Growth: 15.25%
• EPS Growth: 48.96%
• Country: CA
• Employees: 697
• Sector: Industrials
• Sector Strength: 90
• Industry: Aerospace & Defense
• EPS (TTM): 0.13
• Shares Outstanding: 25,173,390
• 10 Day Avg. Volume: 97,324
• 30 Day Avg. Volume: 50,117
• PEG Ratio: 0.84
• Price to Book (P/B): 2.52
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 11.52
• 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$13.00
• Price Target Upside: 13.54% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 75 Outperform
• Price Target: C$12.00 ▲(4.80%Upside)

Firan Tech's overall score reflects strong financial health and strategic growth initiatives, bolstered by recent corporate developments and a positive earnings outlook. The stock's technical indicators and moderate valuation present a balanced opportunity, though potential overbought conditions warrant caution.

Firan Tech Business Overview & Revenue Model

Company Description

Firan Technology Group Corporation manufactures and sells printed circuit boards, illuminated cockpit display panels, and keyboards primarily in Canada, the United States, Asia, Europe, and rest of Americas. It operates in two segments, FTG Circuits and FTG Aerospace. The company offers printed circuit boards, standard rigid, high-density interconnect, RF circuitry, thermal management, and rigid flex and assembly products. It also provides avionic sub-system hardware products, such as backlit control panels and assemblies, integrated switch panels, MCDU keyboards, primary display bezels, cursor control devices, and advanced control panel assemblies/line replaceable units. The company was formerly known as Circuit World Corporation and changed its name to Firan Technology Group Corporation in May 2004. Firan Technology Group Corporation was founded in 1983 and is headquartered in Toronto, Canada.

How the Company Makes Money

FTG generates revenue through the sale of its high-reliability PCBs and precision enclosures. The company's primary revenue streams include contracts and orders from aerospace and defense companies, which require specialized, durable, and precise products. FTG's business model is heavily reliant on building long-term relationships with clients in these sectors, leveraging its expertise and reputation to secure repeat business. Additionally, FTG partners with various suppliers and technology firms to enhance its product offerings and expand its market reach, further contributing to its revenue.

Firan Tech Financial Statement Overview

Summary

Firan Tech demonstrates strong growth potential with increasing revenues and efficient cash flow management. Despite some declining margins, the company maintains a healthy balance sheet and leverage position. Continued focus on margin improvement and debt management will bolster financial stability.

Income Statement

Firan Tech has shown a strong revenue growth trajectory, with revenue increasing from $135.2 million in 2023 to $162.1 million in 2024, a growth rate of 19.91%. However, gross profit margin has slightly declined from 33.9% in 2023 to 27.2% in 2024. The net profit margin also decreased slightly to 6.67% from 8.6% in the previous year. EBITDA margin remains relatively robust at 15.88%, although there was a decline in EBIT margin to 0% due to no recorded EBIT.

Balance Sheet

The company maintains a moderate debt-to-equity ratio of 0.49, indicating a balanced leverage position. Return on equity stands at 14.99% for 2024, reflecting a solid return for shareholders. The equity ratio is stable at 53.46%, indicating a healthy proportion of equity financing. However, the increase in total debt from the previous year might be a point of concern.

Cash Flow

Strong free cash flow growth of 44.23% from 2023 to 2024 highlights efficient cash generation. The operating cash flow to net income ratio is robust at 1.31, demonstrating effective cash flow management. The free cash flow to net income ratio of 0.64 indicates good cash utilization, although there's room for improvement.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
170.63M	162.10M	135.20M	89.62M	79.36M	102.44M
	Gross Profit
51.11M	44.18M	45.83M	21.31M	17.13M	26.42M
	EBIT
20.94M	16.33M	21.72M	2.49M	751.00K	7.60M
	EBITDA
29.17M	25.73M	22.26M	7.92M	8.42M	10.69M
	Net Income Common Stockholders
12.93M	10.81M	11.62M	698.00K	170.00K	1.39M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
9.98M	9.96M	6.62M	15.67M	20.20M	19.03M
	Total Assets
168.33M	134.98M	125.71M	83.75M	79.45M	86.68M
	Total Debt
45.04M	35.31M	35.18M	13.59M	12.94M	18.86M
	Net Debt
35.06M	25.35M	28.56M	-2.08M	-7.26M	-168.00K
	Total Liabilities
82.90M	62.14M	65.38M	34.45M	28.41M	35.39M
	Stockholders Equity
84.65M	72.15M	59.53M	48.33M	50.10M	50.28M
Cash Flow		Free Cash Flow
18.70M	6.88M	4.77M	-1.05M	4.73M	12.56M
	Operating Cash Flow
23.39M	14.13M	11.30M	11.26M	7.63M	15.78M
	Investing Cash Flow
-10.69M	-7.24M	-23.77M	-12.02M	-2.95M	-2.87M
	Financing Cash Flow
-7.81M	-4.34M	3.57M	-1.73M	-2.70M	-1.17M

Firan Tech Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 11.45
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FTG, the sentiment is Positive. The current price of 11.45 is above the 20-day moving average (MA) of 9.95, above the 50-day MA of 9.00, and above the 200-day MA of 7.60, indicating a bullish trend. The MACD of 0.63 indicates Negative momentum. The RSI at 80.37 is Negative, neither overbought nor oversold. The STOCH value of 93.17 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:FTG.

Firan Tech Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FTG	75 Outperform	C$288.24M	21.36	17.82%	―	15.25%	48.96%
Sector *	66 Neutral	$4.49B	12.34	5.40%	248.65%	4.13%	-12.33%
CAE		$8.52B	30.09	8.87%	―	―	―
MAL	78 Outperform	C$1.02B	25.57	5.12%	0.57%	8.59%	242.80%
SNA	24 Underperform	C$6.36M	―	174.16%	―	130.45%	6.25%
DPRO		$16.13M	―	-978.94%	―	―	―
MDA	80 Outperform	C$3.61B	36.18	8.54%	―	49.98%	108.76%

Firan Tech Corporate Events

Firan Tech’s FLYHT Achieves 5G Certification for Boeing 737NG

Firan Technology Group’s subsidiary, FLYHT, has secured a Supplemental Type Certificate from Transport Canada Civil Aviation for its AFIRS Edge+™ product on the Boeing 737NG aircraft. This certification allows for the global deployment of the industry’s first 5G Wireless Quick Access Recorder, replacing outdated 2G and 3G systems, and enhancing real-time data capabilities for airlines. This milestone is expected to strengthen FTG’s market position and expand its regulatory compliance, facilitating broader market access for the Edge+ product.

The most recent analyst rating on (TSE:FTG) stock is a Buy with a C$11.00 price target. To see the full list of analyst forecasts on Firan Tech stock, see the TSE:FTG Stock Forecast page.

Firan Technology Group Confirms Board Elections and Auditor Appointment at AGM

Firan Technology Group Corporation announced the results of its annual general meeting, where all five director nominees were elected. The meeting also saw the appointment of McGovern Hurley LLP as the company’s auditor. The AGM was attended by shareholders representing 55.85% of the company’s common shares. This development is expected to maintain stability in FTG’s governance structure, potentially reinforcing its market position in the aerospace and defense electronics sector.

Firan Technology Group Reports Strong Q1 2025 with Strategic Expansions

Firan Technology Group Corporation reported a strong first quarter for 2025, with significant financial growth and strategic advancements. The company achieved a 37% increase in bookings and a 22.6% rise in revenue compared to the previous year. Key developments included the acquisition of FLYHT Aerospace Solutions Ltd., a contract with De Havilland Aircraft of Canada Ltd., and plans to open a new aerospace facility in India. These moves are expected to enhance FTG’s market presence and shareholder returns. Additionally, a new banking agreement with BMO Corporate Finance was completed, and leadership roles were strengthened with new executive appointments.

FTG to Announce Q1 2025 Financial Results and Host Conference Call

Firan Technology Group Corporation (FTG) announced the release of its first quarter 2025 financial results, scheduled for April 9, 2025, followed by a conference call on April 10, 2025. This announcement is significant for stakeholders as it provides insights into the company’s financial performance and strategic direction, potentially impacting its market positioning in the aerospace and defense electronics industry.