Financial 15 Split Corp (FTN) AI Stock Analysis

• Market Cap: N/A
• Dividend Yield: 11.64%
• Average Volume (3M): 216.28K
• Price to Earnings (P/E): 4.1
• Beta (1Y): 1.33
• Revenue Growth: 25.07%
• EPS Growth: 12.58%
• Country: US
• Employees: N/A
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): -0.14
• Shares Outstanding: 68,707,250
• 10 Day Avg. Volume: 135,539
• 30 Day Avg. Volume: 216,285
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.76
• Price to Sales (P/S): 1.33
• P/FCF Ratio: -7.46
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 65 Neutral
• Price Target: C$12.00 ▲(10.80% Upside)

The score is held back primarily by weak and consistently negative operating/free cash flow despite strong recent profitability and improved leverage. Technicals are supportive with a clear uptrend, but overbought signals increase near-term risk. Valuation is favorable with a low P/E and high yield, and corporate events reinforce the distribution focus.

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 stocks of companies operating in the financials sector. Financial 15 Split Corp. was formed on Nov 14, 2003 and is domiciled in the Canada.

How the Company Makes Money

Financial 15 Split Corp generates revenue primarily through investment income derived from its diversified portfolio of financial services companies. The company employs a split share structure, issuing two types of shares: preferred shares and class A shares. Preferred shareholders receive fixed cumulative dividends, providing a steady income stream for the company. Class A shareholders benefit from capital appreciation and variable dividends, which are contingent on the performance of the underlying assets. FTN's revenue is also enhanced by capital gains realized from strategic buying and selling of securities within its portfolio. The corporation's key partnerships with financial institutions and its active management strategy contribute significantly to its earnings, enabling it to optimize dividend yields and capital returns.

Financial 15 Split Corp Financial Statement Overview

Summary

Income statement shows very strong latest-year profitability but with high volatility across years. Balance sheet leverage improved in 2024, but stability has varied historically. Cash flow is the major weakness with negative operating and free cash flow in 2021–2024, raising cash-conversion and sustainability concerns.

Income Statement

Annual results swung sharply from losses in 2020 and 2023 to very strong profitability in 2021 and especially 2024, where revenue surged (+88.8%) and net income was nearly equal to revenue (very high margins). The main weakness is volatility: revenue has been negative in some years and profits have been inconsistent, which reduces earnings quality and predictability.

Balance Sheet

The balance sheet improved meaningfully in 2024 with higher equity ($645.1M) and a more moderate leverage profile (debt-to-equity ~0.92) versus the elevated leverage seen in 2020 (~3.00) and 2023 (~1.53). Return on equity is strong in 2024 (~57%), but the historical pattern includes periods of negative returns and higher leverage, indicating a less stable capital structure across cycles.

Cash Flow

Cash generation is the key weak spot: operating cash flow and free cash flow are negative in 2021–2024 (including 2024 at -$66.1M), and free cash flow growth is also negative in the most recent year. While 2020 showed very strong positive operating and free cash flow, the subsequent multi-year reversal suggests cash flows are not consistently supporting reported profitability.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	240.29M	372.13M	-1.65M	128.77K	121.26M	-85.55M
Gross Profit	240.29M	372.13M	-1.65M	-4.85M	115.67M	-85.55M
EBITDA	0.00	368.88M	0.00	0.00	112.77M	0.00
Net Income	232.44M	368.88M	-3.60M	-5.95M	97.98M	-88.10M
Balance Sheet
Total Assets	1.23B	1.25B	813.07M	670.92M	508.99M	575.74M
Cash, Cash Equivalents and Short-Term Investments	1.23B	159.86M	805.83M	129.12M	28.12M	575.26M
Total Debt	606.63M	595.08M	473.58M	346.49M	236.22M	428.80M
Total Liabilities	621.30M	609.20M	503.67M	361.02M	241.55M	432.94M
Stockholders Equity	606.21M	645.09M	309.39M	309.90M	267.44M	142.80M
Cash Flow
Free Cash Flow	-18.60M	-66.14M	-127.75M	-59.68M	-34.41M	217.44M
Operating Cash Flow	-18.60M	-66.14M	-127.75M	-59.68M	-34.41M	217.44M
Investing Cash Flow	-45.88M	-92.14M	-148.57M	-70.33M	-37.20M	202.84M
Financing Cash Flow	-12.20M	91.50M	132.74M	160.75M	-178.38M	-42.54M

Financial 15 Split Corp Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 10.83
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

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 below the 20-day moving average (MA) of 10.96, above the 50-day MA of 10.51, and above the 200-day MA of 8.54, indicating a neutral trend. The MACD of 0.10 indicates Positive momentum. The RSI at 56.75 is Neutral, neither overbought nor oversold. The STOCH value of 60.50 is Neutral, 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PWI	70 Outperform	C$37.42M	4.47	32.64%	10.21%	818.69%	-12.12%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
QRC	67 Neutral	C$709.53M	4.17	36.24%	2.20%	-1.35%	496.34%
PDV	66 Neutral	C$6.73M	3.45	42.23%	7.52%	-54.61%	273.14%
FTN	65 Neutral	―	4.09	―	11.64%	25.07%	12.58%
RS	56 Neutral	C$119.64M	7.89	15.77%	17.81%	―	―
BNK	54 Neutral	C$22.96M	3.78	46.99%	8.54%	126.51%	10525.53%

Financial 15 Split Corp Corporate Events

Financial 15 Split Corp. Announces Regular Monthly Distributions for Class A and Preferred Shares

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 shareholders of record as of December 31, 2025. With this latest declaration, the fund reports that since inception Class A shareholders have received a cumulative $28.07 per share and Preferred shareholders $12.96 per share, for a combined $41.03, underscoring the vehicle’s ongoing focus on delivering consistent income to investors from its portfolio of leading Canadian and U.S. financial institutions.

Financial 15 Split Corp. Announces Class A Share Split and Increased Distributions

Financial 15 Split Corp. has announced a share split of its Class A shares, which will provide shareholders with 10 additional shares for every 100 shares held, subject to Toronto Stock Exchange approval. This move, following the extension of the company’s termination date, is expected to increase total distributions by approximately 10% and will be reflected in the net asset value per unit by the end of December 2025. The share split is a strategic decision aimed at enhancing shareholder value and maintaining the company’s strong position in the financial services sector.

Financial 15 Split Corp Declares Monthly Distributions for Class A and Preferred Shares

Financial 15 Split Corp has announced its regular monthly distribution for both Class A and Preferred shares, with Class A shares receiving $0.12570 and Preferred shares receiving $0.07083. This consistent distribution reflects the company’s stable financial performance and commitment to providing returns to its shareholders, contributing to a total distribution of $40.84 per share since inception.

Financial 15 Split Corp. Declares Monthly Share Distributions

Financial 15 Split Corp. has announced its regular monthly distribution for its Class A and Preferred shares, with payments scheduled for November 10, 2025. This announcement reflects the company’s ongoing commitment to providing consistent returns to its shareholders, with Class A shareholders receiving a total of $27.82 per share and Preferred shareholders receiving $12.83 per share since inception.