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ONEX Corporation
(TSX:ONEX)
ONEX Corporation (ONEX) vs. iShares MSCI Canada ETF (EWC)
ONEX Corporation Business Overview & Revenue Model
ONEX Corporation Earnings Call Summary
ONEX Corporation Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 772.00M | 647.00M | 1.12B | 437.00M | 2.03B | 1.14B |
| Gross Profit | 574.00M | 431.00M | 865.00M | 163.00M | 1.74B | 917.00M |
| EBITDA | 464.00M | 331.00M | 569.00M | 302.00M | 1.47B | 789.00M |
| Net Income | 434.00M | 303.00M | 529.00M | 235.00M | 1.41B | 730.00M |
Balance Sheet | ||||||
| Total Assets | 13.42B | 13.96B | 12.90B | 12.16B | 12.89B | 11.87B |
| Cash, Cash Equivalents and Short-Term Investments | 672.00M | 929.00M | 265.00M | 161.00M | 790.00M | 852.00M |
| Total Debt | 4.45B | 5.20B | 3.94B | 3.56B | 3.83B | 4.12B |
| Total Liabilities | 4.81B | 5.54B | 4.33B | 3.91B | 4.51B | 4.63B |
| Stockholders Equity | 8.61B | 8.42B | 8.56B | 8.25B | 8.37B | 7.24B |
Cash Flow | ||||||
| Free Cash Flow | 141.00M | 174.00M | 60.00M | -392.00M | 361.00M | 381.00M |
| Operating Cash Flow | 141.00M | 174.00M | 68.00M | -384.00M | 361.00M | 382.00M |
| Investing Cash Flow | -84.00M | 38.00M | 55.00M | 234.00M | -55.00M | -9.00M |
| Financing Cash Flow | 343.00M | 453.00M | 30.00M | -282.00M | -465.00M | -657.00M |
ONEX Corporation Technical Analysis
ONEX Corporation Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | C$989.27M | 296.45 | 0.32% | 0.14% | -44.78% | -95.84% | |
76 Outperform | C$14.71B | 14.30 | 12.37% | 3.63% | -1.02% | -5.65% | |
69 Neutral | C$7.70B | 12.87 | 5.15% | 0.36% | 2.46% | -27.48% | |
68 Neutral | C$119.80B | 32.25 | 36.59% | 3.44% | 597.75% | 50.43% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | $153.26B | 120.64 | 2.14% | 0.54% | -19.04% | 17.82% | |
47 Neutral | C$4.74B | -3.15 | ― | 0.72% | -0.16% | -2945.66% |
ONEX Corporation Corporate Events
Onex Partners announced the completion of a strategic investment in OneDigital by Stone Point Capital and CPP Investments, valuing OneDigital at over $7 billion. This investment supports OneDigital’s growth through organic expansion and strategic acquisitions, highlighting confidence in its leadership and operating model. Onex Partners remains a significant minority owner, with total proceeds from the transaction amounting to approximately $1.1 billion for Onex Partners V and $235 million for Onex Corporation. The investment underscores OneDigital’s sustained growth across its core verticals, including employee benefits, HR, retirement, wealth management, and more.
Onex Corporation reported its third-quarter 2025 financial results, highlighting ongoing progress in its business operations. The company achieved significant capital returns through its private equity teams and raised over $10 billion in capital via its credit team. Notably, Onex’s acquisition of a majority interest in Convex Group Limited, in partnership with AIG, is expected to enhance its asset management platform’s profitability and efficiency. This strategic move, along with leadership changes, positions Onex for continued growth and value creation for stakeholders.
Onex Partners has announced the sale of Convex Group Limited to Onex Corporation and American International Group, Inc. for $7 billion. Convex, a specialty property and casualty (re)insurer founded in 2019, has shown impressive growth with a 25% compound annual growth rate in gross premium written over the last three years. The transaction underscores Onex Partners’ successful investment strategy in the insurance sector and its ability to return capital to investors at targeted values. The Convex management team will retain a significant economic interest, ensuring alignment with the new owners. The deal is expected to close in the first half of 2026, subject to customary conditions.
Onex Corporation has announced a significant investment and strategic partnership with AIG to acquire Convex, a leading specialty property and casualty (re)insurer, for $7 billion. Onex will own 63% of Convex, while AIG will hold 35%, with the remaining shares retained by Convex’s management. This acquisition is expected to accelerate Onex’s growth and enhance its position in the insurance sector. Additionally, AIG will acquire a 9.9% equity stake in Onex and commit $2 billion to Onex’s private equity and credit strategies over the next three years, which will bolster Onex’s asset management business and drive long-term growth.
Onex Partners and its affiliated funds have completed the sale of a 25% equity stake in WestJet to Delta Air Lines, Korean Air, and Air France-KLM. This strategic partnership aims to enhance WestJet’s market position and create long-term value for its stakeholders. Despite the sale, Onex retains a 75% ownership of WestJet, underscoring its continued commitment to the airline’s growth and strategy. The involvement of prominent global airlines reflects confidence in WestJet’s performance and future prospects.
Onex Corporation has announced the appointment of Megan McClellan as Chief Financial Officer, effective February 2026, following the release of the company’s 2025 annual results. McClellan, who brings over 23 years of experience in asset management and capital markets, will succeed Chris Govan, who is stepping down after 27 years but will remain with the company to ensure a smooth transition. McClellan’s expertise in finance and business strategy is expected to contribute to Onex’s continued success, as she joins the company at a pivotal moment in its growth trajectory. This leadership change is anticipated to have a significant impact on Onex’s operations and strategic direction, potentially enhancing its industry positioning and delivering strong outcomes for stakeholders.
Onex Corporation announced the passing of Nigel S. Wright, Co-Head of Onex Partners and a key figure in the company’s growth, particularly in establishing its European presence. Wright, who joined Onex in 1997, was highly regarded for his professionalism and dedication to the company’s values and people. His contributions extended beyond business, as he was deeply involved in public service and charitable work, leaving a lasting impact on many. His passing is seen as a significant loss to Onex and the broader community, with his legacy expected to continue through the numerous enterprises and individuals he influenced.
OneDigital announced a majority investment from Stone Point Capital and CPP Investments, valuing the company at over $7 billion. This investment will support OneDigital’s growth through organic expansion and strategic acquisitions. The transaction highlights confidence in OneDigital’s leadership and innovative operating model, with Onex Partners remaining a significant minority owner. The investment is expected to enhance OneDigital’s capabilities and strengthen its market position, benefiting clients and stakeholders.
Onex Corporation, through its Onex Partners Opportunities Fund, has agreed to acquire Integrated Specialty Coverages (ISC), a tech-enabled insurance platform, from KKR. ISC, based in Carlsbad, California, specializes in underwriting and distributing insurance solutions using proprietary data analytics and sophisticated technology. This acquisition aligns with Onex’s focus on the insurance sector and enhances its position in the property and casualty insurance value chain. The transaction, supported by several institutional equity partners, is expected to close later this year and aims to bolster ISC’s innovation and growth opportunities in the insurance market.