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Earnings Data
Report Date
Aug 13, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
―Last Year’s EPS
4.6Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized substantial strategic progress and strong operating results — notably the Convex acquisition, robust Convex financial performance (net income +25% vs Q3 LTM; +40% vs 2024), expansion of fee-generating AUM (+24% YoY), meaningful private equity realizations ($8B) and credit platform strength (28 CLOs, run-rate FRE $60M). Near-term headwinds include CLO mark-to-market impacts from spread compression, a modest firm-wide FRE loss for the quarter and timing/recognition delays for certain fee streams and MACV economics. Management presented conservative assumptions (excludes Convex contributions to FRE) and reiterated liquidity and capital allocation plans. Overall, positive operational momentum and high-impact strategic moves outweigh the manageable near-term financial and market challenges.Company Guidance
Convex Acquisition and Strategic Partnership
Completed acquisition of Convex valued at $7.0 billion with Onex and AIG owning ~63% and ~35% respectively; Convex management rolled ~$500 million of equity and accrued incentives, signaling strong alignment and confidence.
Convex 2025 Financial Performance
Convex delivered $711 million in net income in 2025 (Onex's share ~$423 million based on 63% ownership adjusted for pro forma interest); net income rose 25% versus the $566 million Q3 LTM figure at announcement and 40% versus $506 million in 2024.
Convex Growth and Underwriting Strength
Convex wrote $5.9 billion of gross premiums in 2025, up 14% year-over-year, and achieved an 89% combined ratio (third consecutive year under 90%), increasing tangible book value to $3.8 billion and reducing Onex's effective acquisition multiple to 1.8x tangible book (10x 2025 net income).
Investing Capital and Long-Term Growth
Investing capital per share ended the year at $124.70, up 3% in the quarter and 10% for the year, with a 5-year CAGR of 11%.
Strong Private Equity Realizations and Distributions
Platforms delivered $8.0 billion of realizations in 2025, returning over $800 million to Onex; Onex Partners reported $7.7 billion in total distributions in 2025 (including $4.3 billion to co-investors) and has returned $10 billion since 2024 across 8 realizations.
Fee-Generating AUM Expansion
Fee-generating AUM nearly $44 billion at year-end, up 24% during the year, driven by new CLO issuance, commitments to funds and portfolio write-ups.
Credit Platform and CLO Execution
Structured credit priced 28 CLOs across U.S. and Europe, raising >$6 billion of new fee-generating AUM and extending another $6 billion; credit run-rate fee-related earnings (FRE) reached $60 million, ahead of Investor Day targets.
Notable Realization — Ryan Specialty
Final Onex Corp. realization of Ryan Specialty netted just over $200 million; total proceeds from the investment were ~$1.2 billion over ~8 years, representing a 3.8x multiple of capital and a 49% IRR.
Liquidity and Balance Sheet Position Post-Convex
After closing Convex, Onex retained approximately $400 million of cash/near-cash and maintained access to $500 million undrawn on the NAV revolver, providing ~ $900 million total liquidity while drawing $700 million on a NAV facility (less than the expected $1.0 billion).
TSE:ONEX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
TSE:ONEX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 15, 2026 | C$112.83 | C$108.65 | -3.71% |
Feb 20, 2026 | C$106.13 | C$104.84 | -1.21% |
Nov 07, 2025 | C$117.33 | C$114.79 | -2.16% |
Aug 07, 2025 | C$111.22 | C$111.97 | +0.67% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does ONEX Corporation (TSE:ONEX) report earnings?
ONEX Corporation (TSE:ONEX) is schdueled to report earning on Aug 13, 2026, Before Open (Confirmed).
What is ONEX Corporation (TSE:ONEX) earnings time?
ONEX Corporation (TSE:ONEX) earnings time is at Aug 13, 2026, Before Open (Confirmed).
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What is TSE:ONEX EPS forecast?
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