# Atrium Mortgage Investment Corporation (AI.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Financial Services / Thrifts & Mortgage Finance. Price C$11.47, market value C$555 million.

## Valuation
- **P/E (trailing): 11.6×** (5-yr avg 9.0×, 3-yr avg 9.2×). Atrium Mortgage Investment Corporation trades at 11.6× trailing earnings, well above its own five-year average of 9.0×: investors are paying up relative to the company's past. The Financial Services median in the September 2026 study was 13.1×. Forward P/E is 11.5×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 7.4×**. Each dollar of revenue is priced at 7.4×.
- **Price / book: 1.0×**. The shares trade at 1.0× book value; book value is a meaningful part of the valuation.
- **Free-cash-flow yield: 16.6%** (5-yr avg 11.5%). Free cash flow equals 16.6% of the market value, above its five-year average of 11.5%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 8.6%**. The inverse of the P/E: 8.6% of the price is earned each year.

## Profitability
- **Net margin: 57.6%**. 57.6% of each dollar of sales reaches the bottom line.
- **Return on equity: 9.3%**. 9.3% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on assets: 5.3%**. Each dollar of assets produces 5.3% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): -4.0%** (3-yr 6.8%/yr, 5-yr 8.0%/yr). Revenue fell 4.0% over the last year, against 8.0% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -1.9%** (3-yr -1.0%/yr, 5-yr 2.1%/yr). Earnings per share fell 1.9%, roughly in step with revenue.
- **Free-cash-flow growth (3 yr): 0.8%/yr**. Free cash flow has compounded at 0.8% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.
- **Cash and short-term investments: C$0**. Leverage ratios are shown differently for banks and insurers, whose balance sheets are built on deposits and reserves; use return on equity and the regulatory capital in the filings instead.

## Dividends
- **Dividend yield: 8.11%** (C$0.93 per share, trailing). Atrium Mortgage Investment Corporation yields 8.11%, high enough to check carefully: yields this high often precede a cut.
- **Payout ratio: 90%** (46% of free cash flow). 90% of earnings goes out as dividends, leaving a thin cushion.
- **Consecutive years of increases: 11**. 11 straight years of increases, a record that survived at least one recession.
- **Dividend growth (5 yr): 0.8%/yr** (1-yr 3.7%). The dividend has grown 0.8% a year over five years.
- **Shareholder yield: 8.1%**. Dividends plus net buybacks return 8.1% of the market value a year.

## Price and momentum
- **Total return (1 yr): 5.8%** (YTD 3.0%, 3-mo -1.5%). The shares are up 5.8% over twelve months including dividends.
- **From 52-week high: -7.2%** (4.5% above the low). Trading 7% below its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 45**. An RSI of 45 is neutral.
- **Beta (1 yr): 0.42** (volatility 11%). Beta of 0.42 against the S&P/TSX Composite: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=AI.TO · Page: https://foliofundamentals.com/stocks/ai.to

Not investment advice.