Fiera Capital Corp
TSX:FSZ

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Fiera Capital Corp
TSX:FSZ
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Price: 5.58 CAD 2.57%
Market Cap: CA$590.7m

Fiera Capital Corp
Investor Relations

Fiera Capital Corp. engages in the provision of traditional and alternative investment solutions, including depth and expertise in asset allocation. The company is headquartered in Montreal, Quebec and currently employs 844 full-time employees. The firm provides investment advisory and related services to retail investors, including advisory services for individuals, family foundations and trusts. The firm's diverse client base includes pension funds, endowments, foundations, religious and charitable organizations as well as large municipal and university funds. The company offers management services and investment counselling, catering to the specific needs of private clients and high-net-worth individuals and their families, as well as endowments and foundations. The firm also delivers customized multi-asset solutions across public and private market asset classes to institutional, financial intermediary and private wealth clients across North America, Europe and key markets in Asia.

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Feb 26, 2026
AI Summary
Q4 2025

AUM Trends: Excluding sub-advised strategies, assets under management (AUM) grew 5.7% in 2025 to $164.1 billion, with $1 billion in net inflows, but total AUM declined 1.8% including sub-advised outflows.

Private Markets Growth: Private market AUM rose 11.4% to $22 billion, driven by $900 million net inflows and a strategic real estate acquisition.

Financial Results: Adjusted net earnings for Q4 were $30 million, up from $25 million last quarter; full-year adjusted net earnings were $108 million, up 5%. Adjusted diluted EPS fell to $0.87 from $0.94 due to share dilution.

Margins Expand: Adjusted EBITDA margin reached 30.4% in Q4, up from 30.1% last quarter and 29% a year ago, despite a 2% year-over-year decline in revenue.

Strategic Focus: Management highlighted a new 3-year plan centering on deleveraging, operational efficiency, targeted distribution, performance, and private markets as growth engines.

Leverage Reduction: Net debt was reduced to $664 million (3.4x), with a target to reach 2.5x net debt over three years by end-2028.

Dividend and Buybacks: Quarterly dividend set at $0.108 per share; 1.6 million shares repurchased for $10 million.

Key Financials
Assets Under Management
$164.1B
Public Markets Assets Under Management
$142.1B
Private Markets Assets Under Management
$22B
Adjusted Net Earnings (Q4)
$30M
Adjusted Net Earnings (Full Year)
$108M
Adjusted Diluted EPS (Q4)
$0.24
Adjusted Diluted EPS (Full Year)
$0.87
Adjusted EBITDA (Q4)
$55M
Adjusted EBITDA Margin (Q4)
30.4%
Total Revenue (Q4)
$180M
SG&A Expenses (Q4, ex share-based comp)
$125M
SG&A Expenses (Full Year, ex share-based comp)
$479M
Free Cash Flow (last 12 months)
$79M
Net Debt
$664M
Net Debt Ratio
3.4x
Shares Repurchased
1.6M shares
Share Repurchase Value
$10M
Dividend per Share (Quarterly)
$0.108
Earnings Call Recording
Other Earnings Calls

Management

Mr. Jean-Guy Desjardins C.F.A., C.M., L.SC. COMM.
Chairman of the Board & Global CEO
No Bio Available
Mr. Lucas Emilio Pontillo
Executive Director & Global CFO
No Bio Available
Mr. Gabriel Castiglio Esq.
Executive Director, Corporate Secretary & Global Chief Legal Officer
No Bio Available
Mr. John Valentini CPA
Executive Director, President & CEO of Fiera Private Markets
No Bio Available
Mr. Jean Michel C.F.A.
Executive Director, President & Chief Investment Officer of Public Markets
No Bio Available
Mr. Maxime Ménard CFA
President & CEO of Fiera Canada and Global Private Wealth
No Bio Available
Marie-France Guay
Senior VP of Treasury & Investor Relations
No Bio Available
Mr. Jonathan Moncrieff
Global Chief Compliance Officer
No Bio Available
Mr. Donald C. Conner
Senior VP & Investment Counsellor
No Bio Available
Mr. Louis Bourassa
Senior VP & Senior Investment Counsellor
No Bio Available

Contacts

Address
QUEBEC
MONTREAL
1981 McGill College Avenue, Suite 1500
Contacts
+15149543300.0
www.fieracapital.com
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