Propel Holdings Inc (TSE:PRL)
TSX:PRL
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Propel Holdings Inc
(TSX:PRL)
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Rating:61Neutral
Price Target:
C$19.50
â–²(5.86% Upside)
Action:ReiteratedDate:03/05/26
The score is primarily held back by weak cash-flow quality (persistent negative operating/free cash flow) and leverage risk, despite strong growth and profitability. Technicals add pressure given a clear downtrend and negative momentum. Offsetting factors include a reasonable P/E, a ~4% dividend yield, and an earnings update showing record results, though tempered by higher delinquencies and revised guidance.
Positive Factors
Sustained revenue scale
Propel’s multiyear revenue expansion to ~$600M demonstrates durable market traction and scalable origination volume. Sustained top-line growth supports continued investment in technology, broader product distribution and can underpin longer-term competitive positioning in digital consumer credit.
Negative Factors
Persistent negative operating cash flow
Consistent negative operating and free cash flow means growth is not yet self-funding, increasing reliance on external capital. Over months-to-years this raises refinancing and liquidity risk, constrains capital allocation flexibility and can force higher-cost funding during tighter credit markets.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained revenue scale
Propel’s multiyear revenue expansion to ~$600M demonstrates durable market traction and scalable origination volume. Sustained top-line growth supports continued investment in technology, broader product distribution and can underpin longer-term competitive positioning in digital consumer credit.
Read all positive factors
Propel Holdings Inc (PRL) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$725.08M
Dividend Yield3.01%
Average Volume (3M)207.66K
Price to Earnings (P/E)11.7
Beta (1Y)1.41
Revenue Growth38.93%
EPS Growth38.14%
CountryCA
Employees620
SectorFinancial
Sector Strength70
IndustryFinancial - Credit Services
Share Statistics
EPS (TTM)0.53
Shares Outstanding39,363,680
10 Day Avg. Volume273,213
30 Day Avg. Volume207,664
Financial Highlights & Ratios
PEG Ratio0.67
Price to Book (P/B)2.72
Price to Sales (P/S)1.18
P/FCF Ratio-38.78
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$30.19Price Target Upside63.88% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)2.04
Revenue Forecast (FY)C$748.03M
Propel Holdings Inc Business Overview & Revenue Model
Company Description
Propel Holdings Inc. operates as an online financial technology company. The company's online lending platform facilitates access to credit products, such as installment loans and lines of credit under the MoneyKey and CreditFresh brands to Americ...
How the Company Makes Money
Propel primarily makes money by earning revenue tied to the origination, servicing, and performance of consumer loans facilitated through its platforms. Key revenue streams typically include: (1) interest income on loans that it holds on balance s...
Propel Holdings Inc Earnings Call Summary
Earnings Call Date:Nov 04, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:May 12, 2026
Earnings Call Sentiment Neutral
Propel Holdings reported strong financial performance with record-breaking revenue and growth across multiple regions. However, economic pressures and a slight uptick in delinquencies led to a cautious outlook and revised guidance. While the company remains optimistic about future growth opportunities, particularly in the UK and through the Lending as a Service program, it maintains a prudent stance in the current economic environment.Positive Updates
Record-Breaking Revenue and Growth
Propel Holdings achieved record quarterly revenue of $152.1 million, an increase of 30% from Q3 2024, and record total originations funded of $205 million, up 37% year-over-year. Net income rose by 43% to $15 million.
Negative Updates
Uptick in Delinquencies
There was a modest uptick in delinquencies in the US, reflecting normal seasonal trends and broader macroeconomic pressures.
Read all updates
Q3-2025 Updates
Positive
Negative
Record-Breaking Revenue and Growth
Propel Holdings achieved record quarterly revenue of $152.1 million, an increase of 30% from Q3 2024, and record total originations funded of $205 million, up 37% year-over-year. Net income rose by 43% to $15 million.
Read all positive updates
Company Guidance
In the recent earnings call, Propel Holdings provided guidance indicating a strong performance for the third quarter of 2025. The company achieved record total originations funded of $205 million, marking a 37% increase year-over-year, and reported record revenue of $152.1 million, a 30% rise from Q3 2024. Net income grew by 43% to $15 million, while adjusted net income rose by 16% to $16.2 million. The company observed a modest uptick in delinquencies, particularly in the U.S., prompting targeted underwriting adjustments to maintain credit quality. Propel's U.K. market also showed promising growth, with record monthly loan originations rising 78%, and the company expects further expansion. Despite macroeconomic challenges, Propel's AI-powered platform and disciplined risk management have supported stable credit performance and profitable growth, leading to an 8% increase in the annual dividend to $0.84 per share.Propel Holdings Inc Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
62
Positive
Cash Flow
29
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 600.13M | 447.87M | 316.70M | 226.73M | 128.88M |
| Gross Profit | 279.74M | 193.52M | 131.99M | 96.41M | 68.11M |
| EBITDA | 124.70M | 68.09M | 42.21M | 23.60M | 10.98M |
| Net Income | 60.56M | 46.38M | 27.78M | 15.13M | 6.56M |
Balance Sheet | |||||
| Total Assets | 670.56M | 551.01M | 344.26M | 256.68M | 149.50M |
| Cash, Cash Equivalents and Short-Term Investments | 73.81M | 20.50M | 13.75M | 7.66M | 7.24M |
| Total Debt | 338.42M | 274.29M | 201.52M | 151.57M | 50.05M |
| Total Liabilities | 409.86M | 340.89M | 242.74M | 175.04M | 74.17M |
| Stockholders Equity | 260.70M | 210.11M | 101.52M | 81.64M | 75.33M |
Cash Flow | |||||
| Free Cash Flow | -18.32M | -61.13M | -32.39M | -90.59M | -54.60M |
| Operating Cash Flow | -17.99M | -54.84M | -26.95M | -85.32M | -51.83M |
| Investing Cash Flow | -10.37M | -71.90M | -5.43M | -5.27M | -2.76M |
| Financing Cash Flow | 37.40M | 134.83M | 38.48M | 91.01M | 56.59M |
Propel Holdings Inc Technical Analysis
Negative
18.42
Price Trends
21.33
Negative
22.46
Negative
26.93
Negative
Market Momentum
-0.86
Negative
43.76
Neutral
56.69
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:PRL, the sentiment is Negative. The current price of 18.42 is below the 20-day moving average (MA) of 18.57, below the 50-day MA of 21.33, and below the 200-day MA of 26.93, indicating a bearish trend. The MACD of -0.86 indicates Negative momentum. The RSI at 43.76 is Neutral, neither overbought nor oversold. The STOCH value of 56.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:PRL.
Propel Holdings Inc Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | C$562.31M | 11.42 | 9.36% | 7.95% | -13.69% | -1.60% | |
71 Outperform | C$724.52M | 31.59 | -85.46% | 1.51% | 36.52% | -1243.96% | |
69 Neutral | C$937.89M | 11.86 | 11.93% | 7.33% | 7.74% | -31.96% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | C$649.09M | 15.26 | 5.89% | 0.49% | 3.31% | -39.12% | |
61 Neutral | C$725.08M | 11.73 | 23.69% | 3.01% | 38.93% | 38.14% | |
43 Neutral | C$559.06M | -12.17 | 18.88% | 4.48% | 13.69% | -16.06% |
* Financial Sector Average
TSE:PRL
Propel Holdings Inc
18.42
-3.47
-15.87%
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Propel Holdings Inc Corporate Events
Business Operations and StrategyPrivate Placements and FinancingProduct-Related Announcements
Propel Holdings Secures US$150 Million to Back U.S. Launch of FreshLine Credit Line
Positive
Mar 10, 2026
Propel Holdings Inc., a fintech lender focused on underserved and near-prime consumers in the U.S. and other markets, operates an AI-driven platform through brands including Fora Credit, CreditFresh, MoneyKey and QuidMarket, as well as Propel Bank...
Business Operations and StrategyDividendsFinancial Disclosures
Propel Delivers Record 2025 Results but Q4 Profit Dips as It Primes for Growth
Positive
Mar 3, 2026
Propel reported record 2025 full-year results, with revenue up 31% to $589.8 million and net income up 28% to $59.5 million, driven by strong consumer demand and growth in loans and advances receivable. Despite this, Q4 2025 profitability weakened...
Business Operations and StrategyPrivate Placements and Financing
Propel Secures US$60 Million Mesirow Funding to Back Freshline U.S. Loan Expansion
Positive
Feb 25, 2026
Propel Holdings Inc., a Toronto-listed fintech specializing in credit access for underserved consumers across North America and the U.K., operates digital lending brands and a bank partnership that use AI-driven underwriting to broaden consumer cr...
Business Operations and StrategyDividendsFinancial Disclosures
Propel Holdings Sets Q4 and 2025 Results Date and Lifts Dividend for Tenth Straight Time
Positive
Feb 11, 2026
Propel Holdings Inc., a Toronto-listed fintech, specializes in using AI-driven underwriting to provide loans and lines of credit to consumers who are underserved by traditional banks through brands such as Fora Credit, CreditFresh, MoneyKey and Qu...
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.