Firan Tech (FTG) AI Stock Analysis

• Market Cap: C$297.80M
• Dividend Yield: N/A
• Average Volume (3M): 45.37K
• Price to Earnings (P/E): 20.8
• Beta (1Y): 1.20
• Revenue Growth: 17.52%
• EPS Growth: 54.86%
• Country: CA
• Employees: 697
• Sector: Industrials
• Sector Strength: 72
• Industry: Aerospace & Defense
• EPS (TTM): 0.14
• Shares Outstanding: 25,173,390
• 10 Day Avg. Volume: 46,387
• 30 Day Avg. Volume: 45,374
• PEG Ratio: -1.97
• Price to Book (P/B): 2.42
• Price to Sales (P/S): 1.08
• P/FCF Ratio: 25.32
• 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$15.00
• Price Target Upside: 26.80% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 75 Outperform
• Price Target: C$13.50 ▲(14.12% Upside)

Firan Tech's strong financial performance and positive earnings call are the most significant factors contributing to its score. The company's robust revenue growth and profitability improvements, along with successful global expansion efforts, are key strengths. However, technical indicators suggest mixed signals, and the valuation is moderate, which slightly tempers the overall score.

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 primarily through the sale of its printed circuit boards and flexible circuits, which are essential components in various electronic devices used in aerospace, defense, and medical sectors. The company operates on a project-based revenue model, where it engages in long-term contracts with customers for the production of customized solutions. Key revenue streams include direct sales to original equipment manufacturers (OEMs) and subcontracting arrangements with larger defense contractors. Additionally, FTG benefits from partnerships with industry leaders that enhance its market presence and expand its customer base. The company's focus on research and development also allows it to offer innovative products that command premium pricing, further contributing to its earnings.

Firan Tech Financial Statement Overview

Summary

Firan Tech demonstrates strong financial performance with significant revenue growth and robust profit margins. The income statement, balance sheet, and cash flow statement indicate solid financial health, although operational cost efficiency could be improved.

Income Statement

Firan Tech has demonstrated strong revenue growth, increasing from $79.37 million in 2021 to $170.63 million TTM (Trailing-Twelve-Months). The gross profit margin has also improved, reflecting efficient cost management. Net profit margins are robust at 7.58% TTM, indicating profitability. However, the EBIT margin has slightly decreased, suggesting increased operational costs. Overall, the income statement reflects a positive trajectory with room for operational improvement.

Balance Sheet

The balance sheet shows a healthy equity ratio of 50.29% TTM, indicating a strong capital structure. The debt-to-equity ratio is manageable at 0.53, suggesting reasonable leverage. Return on equity stands at 15.28% TTM, showcasing effective utilization of equity. The company's balance sheet is stable, though attention to debt levels could further enhance financial health.

Cash Flow

Firan Tech has exhibited impressive free cash flow growth, with a significant increase in recent periods. The operating cash flow to net income ratio of 1.81 TTM indicates solid cash generation efficiency. The free cash flow to net income ratio is strong at 1.45 TTM, highlighting effective cash management. The cash flow statement is robust, supporting ongoing investments and debt servicing.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	179.94M	162.10M	135.20M	89.62M	79.36M	102.44M
Gross Profit	55.65M	44.18M	45.83M	21.31M	17.13M	26.42M
EBITDA	31.58M	25.73M	22.26M	7.92M	8.42M	10.69M
Net Income	13.86M	10.81M	11.62M	698.00K	170.00K	1.39M
Balance Sheet
Total Assets	165.53M	134.98M	125.71M	83.75M	79.45M	86.68M
Cash, Cash Equivalents and Short-Term Investments	7.09M	9.96M	6.62M	15.67M	20.20M	19.03M
Total Debt	45.83M	35.31M	35.18M	13.59M	12.94M	18.86M
Total Liabilities	75.39M	62.14M	65.38M	34.45M	28.41M	35.39M
Stockholders Equity	89.29M	72.15M	59.53M	48.33M	50.10M	50.28M
Cash Flow
Free Cash Flow	13.42M	6.88M	4.77M	-1.05M	4.73M	12.56M
Operating Cash Flow	18.41M	14.13M	11.30M	11.26M	7.63M	15.78M
Investing Cash Flow	-11.07M	-7.24M	-23.77M	-12.02M	-2.95M	-2.87M
Financing Cash Flow	-5.70M	-4.34M	3.57M	-1.73M	-2.70M	-1.17M

Firan Tech Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 11.83
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FTG, the sentiment is Neutral. The current price of 11.83 is below the 20-day moving average (MA) of 12.20, below the 50-day MA of 11.89, and above the 200-day MA of 9.52, indicating a neutral trend. The MACD of 0.07 indicates Positive momentum. The RSI at 46.01 is Neutral, neither overbought nor oversold. The STOCH value of 14.70 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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$297.80M	20.85	18.05%	―	17.52%	54.86%
CAE	73 Outperform	C$12.73B	30.62	8.44%	―	8.04%	―
MDA	68 Neutral	C$4.26B	35.86	8.94%	―	57.21%	136.79%
MAL	64 Neutral	C$933.07M	24.60	4.71%	0.92%	6.58%	121.23%
DPRO	47 Neutral	C$48.90M	-3.74	-57.03%	―	17.08%	72.07%
SNA	24 Underperform	C$6.81M	-3.13	―	―	424.78%	43.86%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%

Firan Tech Corporate Events

Firan Technology Group Secures EASA Certification for 5G WQAR on Airbus Aircraft

Firan Technology Group has achieved a significant milestone by obtaining the European Aviation Safety Agency (EASA) certification for its AFIRS Edge+™ product on the Airbus A319/320/321 family of aircraft. This certification allows for the global deployment of the industry’s first 5G Wireless Quick Access Recorder (WQAR), replacing outdated 2G and 3G systems with a more advanced 5G platform. This development not only enhances real-time data capabilities for airlines but also positions FTG for broader market access and regulatory compliance expansion, thereby strengthening its market position and operational efficiency.

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 Reports Strong Q2 2025 Results and Strategic Expansions

Firan Technology Group Corporation reported strong financial results for the second quarter of 2025, with a significant increase in revenue and net earnings. The company achieved a 25.6% rise in revenue to $48.7 million and a 36.3% increase in net earnings to $3.5 million. FTG’s strategic initiatives, including the integration of FLYHT and the certification of its AFIRS Edge+™ product for Boeing 737NG, are expected to bolster its market position. Additionally, FTG is expanding its operations with a new aerospace facility in Hyderabad, India, and has secured qualification orders for US defense programs, indicating a robust growth trajectory.

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 Reports Strong Q2 2025 Financial Results and Strategic Growth Initiatives

Firan Technology Group Corporation reported strong financial results for Q2 2025, with a 25.6% increase in revenue to $48.7 million and a 36.3% rise in net earnings to $3.5 million. The company is strategically investing in growth, highlighted by the profitability of its subsidiary FLYHT and the certification of its AFIRS Edge+™ product for Boeing 737NG aircraft. FTG is also expanding its operations with a new aerospace facility in Hyderabad, India, and securing qualification orders for US defense programs, positioning itself for long-term shareholder returns.

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 to Announce Q2 2025 Financial Results

Firan Technology Group Corporation announced that it will release its second quarter 2025 financial results on July 8, 2025, followed by a live conference call on July 9, 2025, to discuss the results. This announcement is significant for stakeholders as it provides an opportunity to gain insights into the company’s financial performance and strategic direction, potentially impacting its market positioning and investor relations.

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 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.