Financial 15 Split Corp (TSE:FTN)
TSX:FTN
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Financial 15 Split Corp
(TSX:FTN)
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Rating:55Neutral
Price Target:
C$10.00
▼(-7.66% Downside)
Action:ReiteratedDate:03/11/26
The score is driven primarily by mixed fundamentals: strong recent profitability and improved leverage are offset by inconsistent operating/free cash flow and multi-year volatility. Technical indicators are broadly bearish and oversold, weighing on the score, while very low P/E and a high dividend yield provide meaningful valuation support.
Positive Factors
High Profitability
Exceptional reported net margins in 2024–2025 indicate the portfolio generated strong realized and unrealized gains, supporting the corporation’s ability to pay preferred distributions. Sustained high profitability, if driven by durable dividend income and selective realizations, strengthens retained capital and coverage over time.
Negative Factors
Weak Cash Generation
Persistent negative operating cash flow across multiple years raises concerns that reported profits rely on non-cash items or timing of portfolio trades. Weak cash conversion undermines sustainable distributable cash, constrains deleveraging, and limits the firm’s ability to fund preferred distributions from operating sources.
Read all positive and negative factors
Positive Factors
Negative Factors
High Profitability
Exceptional reported net margins in 2024–2025 indicate the portfolio generated strong realized and unrealized gains, supporting the corporation’s ability to pay preferred distributions. Sustained high profitability, if driven by durable dividend income and selective realizations, strengthens retained capital and coverage over time.
Read all positive factors
Financial 15 Split Corp (FTN) vs. iShares MSCI Canada ETF (EWC)
Market Cap
N/A
Dividend Yield11.64%
Average Volume (3M)216.28K
Price to Earnings (P/E)2.9
Beta (1Y)1.15
Revenue Growth25.07%
EPS Growth12.58%
CountryCA
EmployeesN/A
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)3.26
Shares Outstanding69,259,650
10 Day Avg. Volume135,539
30 Day Avg. Volume216,285
Financial Highlights & Ratios
PEG Ratio-0.07
Price to Book (P/B)0.84
Price to Sales (P/S)2.27
P/FCF Ratio24.66
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
Financial 15 Split Corp Business Overview & Revenue Model
Company Description
Financial 15 Split Corp. is an close ended equity mutual fund launched by Quadravest Inc. It is managed by Quadravest Capital Management Inc. It invests in the public equity markets of the United States and Canada. The fund primarily invests in st...
How the Company Makes Money
Financial 15 Split Corp. generates value and supports distributions primarily from (1) dividend income received on its underlying portfolio holdings and (2) realized and unrealized gains (or losses) on those portfolio securities. Dividend income i...
Financial 15 Split Corp Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
63
Positive
Cash Flow
34
Negative
| Breakdown | Nov 2025 | Nov 2024 | Nov 2023 | Nov 2022 | Nov 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 293.76M | 372.13M | -1.65M | 128.77K | 121.26M |
| Gross Profit | 283.65M | 372.13M | -1.65M | -4.85M | 115.67M |
| EBITDA | 280.45M | 368.88M | 0.00 | 0.00 | 112.77M |
| Net Income | 231.70M | 368.88M | -3.60M | -5.95M | 97.98M |
Balance Sheet | |||||
| Total Assets | 1.50B | 1.25B | 813.07M | 670.92M | 508.99M |
| Cash, Cash Equivalents and Short-Term Investments | 143.21M | 159.86M | 805.83M | 129.12M | 28.12M |
| Total Debt | 699.52M | 595.08M | 473.58M | 346.49M | 236.22M |
| Total Liabilities | 715.80M | 609.20M | 503.67M | 361.02M | 241.55M |
| Stockholders Equity | 788.82M | 645.09M | 309.39M | 309.90M | 267.44M |
Cash Flow | |||||
| Free Cash Flow | 27.01M | -66.14M | -127.75M | -59.68M | -34.41M |
| Operating Cash Flow | 27.01M | -66.14M | -127.75M | -59.68M | -34.41M |
| Investing Cash Flow | -11.58M | -92.14M | -148.57M | -70.33M | -37.20M |
| Financing Cash Flow | -30.82M | 91.50M | 132.74M | 160.75M | -178.38M |
Financial 15 Split Corp Technical Analysis
Positive
10.83
Price Trends
10.08
Positive
10.07
Positive
9.11
Positive
Market Momentum
0.02
Negative
64.89
Neutral
95.12
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FTN, the sentiment is Positive. The current price of 10.83 is above the 20-day moving average (MA) of 9.60, above the 50-day MA of 10.08, and above the 200-day MA of 9.11, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 64.89 is Neutral, neither overbought nor oversold. The STOCH value of 95.12 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:FTN.
Financial 15 Split Corp Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | C$793.76M | 1.64 | 35.97% | 2.20% | -1.35% | 496.34% | |
66 Neutral | C$6.85M | 3.53 | 42.23% | 7.52% | -54.61% | 273.14% | |
63 Neutral | C$40.22M | ― | 26.15% | 10.21% | 818.69% | -12.12% | |
56 Neutral | C$108.26M | ― | -7.26% | 17.81% | ― | ― | |
55 Neutral | ― | 2.87 | ― | 11.64% | 25.07% | 12.58% | |
| ― | C$23.76M | ― | 46.99% | 8.54% | 126.51% | 10525.53% |
* Financial Sector Average
TSE:FTN
Financial 15 Split Corp
10.55
5.09
93.15%
TSE:QRC
Queen's Road Capital Investment
15.55
9.90
175.22%
TSE:PDV
Prime Dividend Cl A
12.10
5.98
97.87%
TSE:RS
Real Estate & E-Commerce Split Corp. Class A
9.45
2.48
35.50%
TSE:BNK
Big Banc Split
17.73
6.62
59.63%
TSE:PWI
Sustainable Power & Infrastructure Split
12.25
5.53
82.24%
Financial 15 Split Corp Corporate Events
Financial DisclosuresRegulatory Filings and Compliance
Financial 15 Split Corp. Publishes 2025 Annual Financial Results
Neutral
Feb 25, 2026
Financial 15 Split Corp., a Toronto-listed investment corporation offering structured exposure to financial sector securities, has released its annual financial statements and management report of fund performance for the year ended November 30, 2...
Dividends
Financial 15 Split Corp. Maintains Monthly Distributions for Class A and Preferred Shares
Positive
Feb 19, 2026
Financial 15 Split Corp. has declared its regular monthly cash distributions for both classes of its shares, maintaining a payout of $0.12570 per Class A share, equivalent to $1.51 on an annualized basis, and $0.06042 per Preferred share, or $0.72...
Business Operations and StrategyPrivate Placements and Financing
Financial 15 Split Corp. Renews $400 Million At-the-Market Equity Program
Positive
Jan 22, 2026
Financial 15 Split Corp. has renewed its at-the-market equity program, allowing it to issue Class A and Preferred Shares on Canadian exchanges at prevailing market prices until February 21, 2028, with potential gross proceeds of up to $400 million...
Dividends
Financial 15 Split Corp. Maintains Regular Monthly Distributions for Class A and Preferred Shares
Positive
Jan 20, 2026
Financial 15 Split Corp. has declared its regular monthly cash distributions for both share classes, announcing a payment of $0.12570 per Class A share (equivalent to $1.51 on an annualized basis) and $0.06042 per Preferred share ($0.725 annually)...
Private Placements and Financing
Financial 15 Split Corp. Raises $92.2 Million in Preferred Share Offering
Positive
Jan 15, 2026
Financial 15 Split Corp. has completed an overnight offering of its Preferred Shares, raising gross proceeds of $92.2 million, with the shares continuing to trade on the Toronto Stock Exchange under the symbol FTN.PR.A. The capital will be deploye...
Dividends
Financial 15 Split Corp. Announces Regular Monthly Distributions for Class A and Preferred Shares
Positive
Dec 18, 2025
Financial 15 Split Corp. has declared its regular monthly cash distributions of $0.12570 per Class A share, equivalent to $1.51 on an annualized basis, and $0.06042 per Preferred share, or $0.725 annually, payable on January 9, 2026 to shareholder...
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.