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Exchange Income Corp

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Exchange Income Corp Logo
Exchange Income Corp
Price: 46.24 CAD -1.26% Market Closed
Updated: Dec 11, 2023

Intrinsic Value

Valuation History
Exchange Income Corp

Historical Profit
Current Valuation
Price & Value Correlation
Value CAGR
Intrinsic Value History...

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Fundamental Analysis

2023-Q3 Earnings Call
Artifical Intelligence Analysis

Exchange Income's Strong Q3 Performance Despite Hurdles
Exchange Income's Strong Q3 Performance Despite Hurdles

Exchange Income Corporation celebrated a striking Q3 with revenues soaring 17% to $688 million and adjusted EBITDA growing 12% to $168 million compared to last year. Free cash flow less maintenance capex rose 8% to $74 million, but on a per share basis, it dipped 6% to $1.60. Despite heightened interest costs, net earnings hit $50 million, a 12% decline per share to $1.06. Adjusted net earnings modestly increased by $1 million. The company is confident in future performance, underpinning a 5% dividend raise from $2.52 to $2.64. Key sectors such as air service, aerospace, and multistory window solutions witnessed improvements, the latter bolstered by BVGlazing's acquisition. Precision manufacturing also performed robustly, and the Environmental Access Solutions business outperformed its return on capital targets. The company's investments in Air Canada and medevac contracts anticipate positive effects in the coming quarters.


Balance Sheet Decomposition
Exchange Income Corp

Current Assets 1.2B
Cash & Short-Term Investments 64.2m
Receivables 625m
Other Current Assets 463m
Non-Current Assets 2.8B
Long-Term Investments 124m
PP&E 1.7B
Intangibles 993m
Other Non-Current Assets 25.5m
Current Liabilities 595m
Accounts Payable 427m
Other Current Liabilities 168m
Non-Current Liabilities 2.1B
Long-Term Debt 1.9B
Other Non-Current Liabilities 217m
Fundamental Scores

EIF Profitability Score
Profitability Due Diligence

Exchange Income Corp's profitability score is 54/100. The higher the profitability score, the more profitable the company is.

Positive Gross Profit
Exceptional 3-Years Revenue Growth
Positive Revenue Growth Forecast
Exceptional 1-Year Revenue Growth

Exchange Income Corp's profitability score is 54/100. The higher the profitability score, the more profitable the company is.

EIF Solvency Score
Solvency Due Diligence

Exchange Income Corp's solvency score is 32/100. The higher the solvency score, the more solvent the company is.

Short-Term Solvency
Long-Term Solvency
Average D/E
Low Altman Z-Score

Exchange Income Corp's solvency score is 32/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

EIF Price Targets Summary
Exchange Income Corp

Wall Street analysts forecast EIF stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for EIF is 64.36 CAD with a low forecast of 58.58 CAD and a high forecast of 73.5 CAD.

Price Target
58.58 CAD
27% Upside
Price Target
64.36 CAD
39% Upside
Price Target
73.5 CAD
59% Upside
View Analyst Estimates
View Analyst Estimates

Competitive Landscape

Shareholder Return

EIF Return Decomposition
Main factors of price return

What is price return decomposition?

EIF Price
Exchange Income Corp

1M 1M
6M 6M
1Y 1Y
3Y 3Y
5Y 5Y
10Y 10Y
Annual Price Range
52w Low
52w High
Price Metrics
Average Annual Return 22.06%
Standard Deviation of Annual Returns 34.71%
Max Drawdown -68%
Shares Statistics
Market Capitalization 2.2B CAD
Shares Outstanding 46 998 900
Percentage of Shares Shorted 1.16%

Company Profile

Exchange Income Corp Logo
Exchange Income Corp





Market Cap

2.2B CAD

Dividend Yield



Exchange Income Corp. is a diversified, acquisition-oriented company, which focuses on opportunities in the manufacturing and aviation business. The company is headquartered in Winnipeg, Manitoba. The company went IPO on 2004-05-07. The firm segments include Aerospace & Aviation, and Manufacturing. The Aerospace & Aviation segment provides scheduled airline and charter service, and emergency medical services to communities located in Manitoba, Ontario and Nunavut. The firm also develops training solutions for the United States Department of Defense, government, and commercial training programs. The company provides pilot and sensor operator crew training on both manned and unmanned military aircraft. The Manufacturing segment provides manufactured goods and related services in various industries and geographic markets throughout North America. The Manufacturing segment includes the operations of WesTower CDA, Stainless Fabrication, Inc., Overlanders Manufacturing LP, and Ben Machine Products Company Inc.


101 - 990 Lorimer Blvd






CEO & Director
Mr. Michael C. Pyle M.B.A., MBA
Exec. Vice Chairman
Mr. Duncan Draper Jessiman Q.C.
Ms. Carmele N. Peter L.L.B., Q.C., LL.B.
Chief Exec. Officer of Regional One, Inc.
Mr. Doron Marom
Pres of Regional One, Inc.
Mr. Hank Gibson
Chief Financial Officer
Mr. Richard Wowryk
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Chief Operating Officer
Mr. Darwin R. Sparrow
Chief Technology Officer
Mr. Curtis Anderson
VP of Investor Devel.
Pam Plaster
Mang. of Compliance & Corp. Sec.
Ms. Dianne M. Spencer
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See Also

Discover More
What is the Intrinsic Value of one EIF stock?

The intrinsic value of one EIF stock under the Base Case scenario is 81.93 CAD.

Is EIF stock undervalued or overvalued?

Compared to the current market price of 46.24 CAD, Exchange Income Corp is Undervalued by 44%.