United Corporations (UNC) AI Stock Analysis

• Market Cap: N/A
• Dividend Yield: 12.97%
• Average Volume (3M): 5.36K
• Price to Earnings (P/E): 4.6
• Beta (1Y): 0.50
• Revenue Growth: 79.03%
• EPS Growth: -26.89%
• Country: CA
• Employees: 190
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 0.63
• Shares Outstanding: 112,484,550
• 10 Day Avg. Volume: 5,088
• 30 Day Avg. Volume: 5,356
• PEG Ratio: -0.17
• Price to Book (P/B): 0.61
• Price to Sales (P/S): 5.24
• P/FCF Ratio: 5.86
• 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: 78 Outperform
• Price Target: C$16.50 ▲(8.06% Upside)
• Action: Reiterated Date: 03/03/26
• Date: Action: Reiterated 03/03/26

The score is driven primarily by strong financial quality (high profitability and a zero-debt balance sheet) and an attractive low P/E valuation. These positives are tempered by uneven revenue trends, historically variable cash generation, and only moderate/ mixed near-term technical momentum.

Positive Factors

Zero-debt balance sheet

A zero-debt balance sheet meaningfully lowers financial risk and preserves strategic optionality. Over 2–6 months this durability supports capital allocation flexibility for M&A, buybacks, or absorbing short-term revenue shocks without reliance on external financing.

Very high profitability / margins

Sustainably high margins indicate pricing power and operational efficiency intrinsic to the business model. This helps preserve earnings through cyclicality, funds reinvestment, and strengthens return metrics even if top-line growth moderates over the medium term.

Improved cash generation in TTM

A recent uplift in operating and free cash flow improves internal funding capacity and cushions capital allocation choices. Strong cash conversion in the trailing period supports sustainable investment, deleveraging (if desired), or shareholder returns without external capital.

Negative Factors

Inconsistent revenue trends

Declining and uneven revenue undermines growth sustainability and makes earnings reliant on margin maintenance. Over the medium term, weak top-line trends can constrain scale advantages, limit fee expansion for an asset manager, and raise the bar for durable earnings growth.

Historical cash flow volatility

Repeated swings in operating and free cash flow increase uncertainty around capital allocation. Even with recent improvement, historical volatility can force defensive decisions in downturns and complicate multi-quarter planning for investments or payouts.

Variable earnings history including a loss year

Earnings and ROE variability, including a prior loss year, point to operational or cyclical exposure. This variability questions the sustainability of current profitability and makes medium-term forecasting and stakeholder confidence more fragile.

United Corporations Business Overview & Revenue Model

Company Description

United Corporations Limited is a closed ended equity fund launched and managed by Jarislowsky, Fraser Limited. It is co-managed by ValueInvest Asset Management S.A. It invests in the public equity markets of Canada. The fund also makes its investments in units of in Emerging Markets Investors Fund. It makes its investments in stocks of companies operating across diversified sectors. The fund benchmarks the performance of its portfolio against the S&P/TSX Composite Index, MSCI World Index, and S&P 500 Index. It was formerly known as Consolidated Investment Corporation of Canada. United Corporations Limited was formed on February 1, 1929 and is domiciled in Canada.

How the Company Makes Money

United Corporations (UNC) generates revenue through a diverse set of streams aligned with its multiple sectors. In the technology sector, UNC earns income from the sale of proprietary software, hardware products, and IT services, catering to both enterprise and consumer markets. The healthcare division contributes to the company’s earnings by providing medical devices, pharmaceuticals, and healthcare services. In the consumer goods sector, UNC profits from the production and distribution of household products and personal care items. Additionally, strategic partnerships and collaborations with other industry leaders enhance UNC’s market reach and innovation capabilities, further bolstering its revenue. These diversified revenue streams allow UNC to maintain a robust financial performance and adapt to changing market dynamics.

United Corporations Financial Statement Overview

Summary

Strong overall fundamentals supported by exceptionally high profitability and a very conservative balance sheet with zero debt. Offsetting this, revenue has been inconsistent (declining in the TTM and latest annual period) and cash flow has been historically volatile despite improvement in the most recent TTM period.

Income Statement

Profitability is exceptionally strong, with very high profit margins in both TTM (Trailing-Twelve-Months) and recent annual periods, indicating a highly profitable earnings profile. However, top-line performance has turned choppy: revenue declined in TTM (Trailing-Twelve-Months) and the latest annual period, following a very strong 2024 year—suggesting earnings quality is strong but revenue momentum is inconsistent.

Balance Sheet

The balance sheet is very conservative with zero debt across periods, which meaningfully lowers financial risk and adds flexibility. Equity is substantial relative to assets, and returns on equity improved to solid levels in TTM (Trailing-Twelve-Months) versus the weaker 2023–2025 annual trend (including a loss year in 2022), implying better recent profitability but some historical volatility.

Cash Flow

Cash generation is generally healthy, with positive operating cash flow and free cash flow in most periods and solid growth in TTM (Trailing-Twelve-Months). That said, cash flow has been volatile historically (including negative operating/free cash flow in 2022 and a notably weak cash year in 2024 versus earnings), which introduces variability in cash conversion even though the most recent results look stronger.

Breakdown	TTM	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020
Income Statement
Total Revenue	364.54M	257.36M	416.16M	21.34M	-21.63M	488.21M
Gross Profit	361.60M	257.36M	415.90M	20.38M	-21.63M	488.21M
EBITDA	395.08M	255.12M	413.52M	18.10M	-23.82M	486.35M
Net Income	339.23M	221.10M	354.25M	13.87M	-23.09M	422.62M
Balance Sheet
Total Assets	2.67B	2.32B	2.30B	1.95B	2.05B	2.15B
Cash, Cash Equivalents and Short-Term Investments	27.65M	80.43M	55.04M	66.44M	68.40M	99.27M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	122.62M	98.96M	86.61M	40.07M	32.67M	80.76M
Stockholders Equity	2.54B	2.22B	2.21B	1.91B	2.02B	2.07B
Cash Flow
Free Cash Flow	215.56M	230.10M	46.23M	119.07M	-713.00K	86.00M
Operating Cash Flow	215.56M	230.10M	46.23M	119.07M	-713.00K	86.00M
Investing Cash Flow	-16.50M	0.00	0.00	0.00	0.00	0.00
Financing Cash Flow	-213.94M	-204.72M	-57.62M	-121.03M	-30.15M	-30.63M

United Corporations Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 15.27
• 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:UNC, the sentiment is Positive. The current price of 15.27 is above the 20-day moving average (MA) of 14.42, above the 50-day MA of 14.05, and above the 200-day MA of 13.02, indicating a neutral trend. The MACD of 0.08 indicates Positive momentum. The RSI at 53.04 is Neutral, neither overbought nor oversold. The STOCH value of 55.20 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:UNC.

United Corporations Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
UNC	78 Outperform	―	4.63	14.47%	12.97%	79.03%	-26.89%
IGM	75 Outperform	C$15.71B	14.41	12.37%	3.59%	-1.02%	-5.65%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
BAM	67 Neutral	C$104.24B	29.85	41.10%	3.37%	597.75%	50.43%
BN	65 Neutral	C$145.66B	82.97	2.78%	0.53%	-19.04%	17.82%
ONEX	65 Neutral	C$7.94B	8.33	5.15%	0.36%	2.46%	-27.48%
WED	49 Neutral	C$784.15M	-9.93	-6.98%	―	333.02%	-196.36%

United Corporations Corporate Events

United Corporations Declares Eligible Dividends on Common and Preferred Shares

United Corporations Limited has declared cash dividends on its first preferred shares, two series of second preferred shares, and common shares, all with a record date of May 1, 2026 and a payable date of May 15, 2026. The common share dividend is set at $0.11 per share, while each preferred share series will receive $0.375 per share.

The $0.11 common share payout includes a regular quarterly dividend of $0.03 and an additional $0.08 distribution representing the balance of net investment income for the nine months ended December 31, 2025, after preferred dividends. The company has designated all these payments as eligible dividends for Canadian tax purposes, which may provide favorable tax treatment for many investors and underscores the firm’s focus on returning income to shareholders.

The most recent analyst rating on (TSE:UNC) stock is a Buy with a C$17.50 price target. To see the full list of analyst forecasts on United Corporations stock, see the TSE:UNC Stock Forecast page.

United Corporations Declares $1.45 Special Dividend on Strong Portfolio Gains

United Corporations Limited has declared a special cash dividend of $1.45 per common share, payable on February 27, 2026 to shareholders of record as of February 13, 2026, reflecting the strong recent performance of its global investment portfolio. The dividend, designated as an eligible dividend for Canadian tax purposes, signals robust portfolio returns and underscores the company’s capacity to return additional capital to shareholders beyond its regular distributions.

The most recent analyst rating on (TSE:UNC) stock is a Buy with a C$17.50 price target. To see the full list of analyst forecasts on United Corporations stock, see the TSE:UNC Stock Forecast page.