Life & Banc Split (LBS) AI Stock Analysis

• Market Cap: N/A
• Dividend Yield: 9.19%
• Average Volume (3M): 66.70K
• Price to Earnings (P/E): 1.7
• Beta (1Y): 0.94
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: CA
• Employees: N/A
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 1.44
• Shares Outstanding: 51,545,547
• 10 Day Avg. Volume: 98,944
• 30 Day Avg. Volume: 66,696
• PEG Ratio: 0.02
• Price to Book (P/B): 0.88
• Price to Sales (P/S): 9.93
• P/FCF Ratio: -212.92
• 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$12.50 ▲(5.49% Upside)
• Action: N/A Date: 01/04/26
• Date: Action: N/A 01/04/26

The score is anchored by a mixed financial profile where multi-year negative operating/free cash flow is the primary constraint despite the recent earnings rebound. Offsetting that risk are supportive technical trends and a very attractive valuation (low P/E and high dividend yield).

Life & Banc Split Business Overview & Revenue Model

Company Description

Life & Banc Split Corp. is a closed-ended equity mutual fund launched and managed by Brompton Funds Limited. The fund invests in the public equity markets of Canada. It seeks to invest in stocks of companies operating across banking and life insurance sector. The fund primarily invests in the stocks of the six largest banks of the country, as well as of life insurance companies, utilizing a split share structure on a low cost basis. It benchmarks the performance of its portfolio against the S&P/TSX Capped Financials Index and S&P/TSX Composite Index. Life & Banc Split Corp. was formed on September 6, 2006 and is domiciled in Canada.

How the Company Makes Money

Life & Banc Split does not operate a traditional business; it is an investment holding vehicle. It makes money primarily through (1) investment income earned on its portfolio—especially dividends and other distributions received from the underlying financial and life insurance equity holdings, and (2) changes in the market value of those investments (capital gains or losses), which affect net asset value and the value available to shareholders. Cash inflows from portfolio dividends are used to fund the distributions promised to its preferred and/or class A shares according to the split-share structure, with residual cash flow (after fees, expenses, and any preferred share obligations) supporting distributions and value for class A shareholders. The company also incurs and pays management fees, administrative expenses, and other operating costs out of portfolio income and/or assets; as a result, returns to shareholders depend on portfolio income, portfolio performance, and the leverage/priority features embedded in the split-share structure. Specific partnerships or contractual revenue arrangements beyond the fund’s management/administration are not available: null.

Life & Banc Split Financial Statement Overview

Summary

Recent profitability rebounded strongly (2023–2024) and leverage improved versus 2022–2023, but this is outweighed by persistently negative operating and free cash flow across 2021–2024 and volatile revenue (notably down ~23% in 2024), raising sustainability and liquidity-risk concerns.

Income Statement

Profitability has been strong in the last two years with a clear rebound from 2022’s loss to sizable profits in 2023 and 2024, and returns on equity improved alongside that recovery. However, revenue has been inconsistent (down ~23% in 2024 after modest growth in 2023), and results show meaningful volatility across the period, which tempers confidence in earnings stability.

Balance Sheet

The balance sheet is moderately leveraged, with debt roughly in line with equity in 2024 (about 1.0x) and an improved position versus 2022–2023 when leverage was higher. That said, debt remains substantial relative to the equity base and leverage has been variable over time, keeping financial risk at a mid-range level.

Cash Flow

Cash generation is the key weak spot: operating cash flow and free cash flow were negative in 2021–2024, including 2023’s large outflow and another deficit in 2024. While the cash burn narrowed significantly in 2024 versus 2023, the multi-year pattern of negative operating and free cash flow raises sustainability and liquidity-risk concerns despite the return to profitability.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	102.54M	40.36M	42.59M	-44.28M	157.62M	24.37M
Gross Profit	99.58M	34.87M	87.76M	-48.48M	153.74M	-13.72M
EBITDA	192.14M	204.29M	87.28M	-136.84K	156.18M	-94.14K
Net Income	240.11M	165.35M	58.04M	-46.51M	140.16M	-14.07M
Balance Sheet
Total Assets	984.75M	935.99M	730.28M	608.19M	606.52M	448.81M
Cash, Cash Equivalents and Short-Term Investments	982.79M	933.99M	728.42M	606.70M	604.59M	447.66M
Total Debt	470.01M	464.79M	408.20M	352.03M	298.16M	268.18M
Total Liabilities	484.07M	478.40M	420.58M	360.92M	305.56M	274.72M
Stockholders Equity	500.67M	457.59M	309.70M	247.27M	300.96M	174.09M
Cash Flow
Free Cash Flow	18.79M	-1.88M	-59.86M	-64.41M	-16.90M	18.93M
Operating Cash Flow	18.79M	-1.88M	-59.86M	-64.41M	-16.90M	18.93M
Investing Cash Flow	0.00	0.00	0.00	0.00	0.00	0.00
Financing Cash Flow	-51.34M	34.44M	59.81M	64.95M	17.34M	-18.90M

Life & Banc Split Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PWI	70 Outperform	C$39.83M	―	55.08%	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$785.08M	1.64	35.97%	2.20%	-1.35%	496.34%
LBS	65 Neutral	―	1.66	58.43%	9.19%	―	―
RS	56 Neutral	C$114.22M	―	-7.26%	17.81%	―	―
BNK	54 Neutral	C$23.57M	―	46.99%	8.54%	126.51%	10525.53%
WED	49 Neutral	C$817.86M	-14.81	-6.91%	―	333.02%	-196.36%

Life & Banc Split Corporate Events

Brompton Funds Announces March Distributions for Split Share Lineup

Brompton Funds has declared regular cash distributions for several of its split share corporations, with class A shareholders of funds such as Dividend Growth Split Corp., Global Dividend Growth Split Corp., Life & Banc Split Corp., and others set to receive between $0.075 and $0.10 per share on March 13, 2026. The firm also announced a preferred share distribution of $0.16875 per share for Dividend Growth Split Corp., while highlighting that class A investors can use distribution reinvestment plans to compound returns, underscoring Brompton’s emphasis on steady income and long-term growth for its split share investor base.

The most recent analyst rating on (TSE:LBS) stock is a Buy with a C$13.50 price target. To see the full list of analyst forecasts on Life & Banc Split stock, see the TSE:LBS Stock Forecast page.

Brompton Funds Declares February Distributions Across Split Share Lineup

Brompton Funds has declared cash distributions payable on February 13, 2026, for class A shareholders of several of its split share funds—Dividend Growth Split Corp., Brompton Energy Split Corp., Global Dividend Growth Split Corp., Life & Banc Split Corp., Brompton Lifeco Split Corp., and Brompton Split Banc Corp.—with most paying $0.10 per share and Brompton Lifeco Split Corp. paying $0.075. The firm also announced a $0.175 distribution for preferred shareholders of Brompton Lifeco Split Corp., while confirming that Brompton Energy Split Corp.’s class A distribution meets the required net asset value threshold above $15 per unit after distributions, underscoring the fund’s adherence to capital preservation rules. Brompton highlighted that these funds offer distribution reinvestment plans for class A shareholders, enabling commission-free reinvestment and compounding of returns, reinforcing the manager’s positioning as a provider of steady income solutions for investors in TSX-listed funds.

The most recent analyst rating on (TSE:LBS) stock is a Buy with a C$13.50 price target. To see the full list of analyst forecasts on Life & Banc Split stock, see the TSE:LBS Stock Forecast page.

Life & Banc Split Renews $500 Million ATM Equity Program to Support Growth

Life & Banc Split Corp. has renewed its at-the-market equity program, allowing it to issue additional Class A and preferred shares on Canadian exchanges at prevailing market prices, with potential gross proceeds of up to $250 million for each share class until February 12, 2028. The fund plans to deploy any capital raised in line with its existing investment objectives and strategies, reinforcing its exposure to major Canadian banks and life insurers while potentially enhancing liquidity and scale for investors; the move follows a decade in which its Class A shares have significantly outperformed key Canadian financial and broad market indices, and its preferred shares have delivered steady mid-single-digit annual returns with substantial downside protection based on current net asset values.

The most recent analyst rating on (TSE:LBS) stock is a Hold with a C$12.50 price target. To see the full list of analyst forecasts on Life & Banc Split stock, see the TSE:LBS Stock Forecast page.