# Exchange Income Corporation (EIF.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Industrials / Airlines. Price C$120.46, market value C$6.8 billion.

## Valuation
- **P/E (trailing): 32.6×** (5-yr avg 19.9×, 3-yr avg 21.2×). Exchange Income Corporation trades at 32.6× trailing earnings, well above its own five-year average of 19.9×: investors are paying up relative to the company's past. The Industrials median in the September 2026 study was 25.7×. Forward P/E is 22.7×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.90**. A PEG of 0.90 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 1.8×**. Each dollar of revenue is priced at 1.8×.
- **Price / book: 3.7×**. The shares trade at 3.7× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 10.8×**. Enterprise value is 10.8× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: -2.2%** (5-yr avg -2.9%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.
- **Earnings yield: 3.1%**. The inverse of the P/E: 3.1% of the price is earned each year.

## Profitability
- **Gross margin: 24.6%**. Exchange Income Corporation keeps 24.6% of revenue after the direct cost of what it sells, a thin margin typical of retail, distribution and commodity businesses.
- **Operating margin: 11.0%**. 11.0% of revenue is left after running the business.
- **Net margin: 5.1%**. 5.1% of each dollar of sales reaches the bottom line.
- **Return on equity: 9.5%**. 9.5% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 7.5%**. Return on all capital, debt included, is 7.5%.
- **Return on assets: 3.9%**. Each dollar of assets produces 3.9% of profit.

## Growth
- **Revenue growth (1 yr): 23.2%** (3-yr 16.8%/yr, 5-yr 23.3%/yr). Revenue grew 23.2% over the last year, against 23.3% a year compounded over five years.
- **EPS growth (1 yr): 25.3%** (3-yr 5.7%/yr, 5-yr 32.0%/yr). Earnings per share rose 25.3%, roughly in step with revenue.

## Financial health
- **Debt to equity: 1.38**. Debt is 1.38 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Net debt / EBITDA: 2.7×**. It would take 2.7 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 3.1×**. Operating profit covers interest 3.1× over, a safe margin.
- **Current ratio: 1.71** (quick 1.07). Current assets cover the next year's liabilities 1.71 times.
- **Altman Z-score: 2.62**. A Z-score of 2.62 is in the grey zone; not distressed, not clearly safe.
- **Piotroski F-score: 7/9**. 7 of 9 fundamental checks pass: strong and improving financials.

## Dividends
- **Dividend yield: 2.39%** (C$2.72 per share, trailing). Exchange Income Corporation yields 2.39%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 83%**. 83% of earnings goes out as dividends, leaving a thin cushion.
- **Consecutive years of increases: 16**. 16 straight years of increases, a record that survived at least one recession.
- **Dividend growth (5 yr): 3.1%/yr** (1-yr 0.8%). The dividend has grown 3.1% a year over five years.
- **Shareholder yield: 2.0%**. Dividends plus net buybacks return 2.0% of the market value a year.

## Analyst view
- **Analyst consensus: strong_buy** (11 analysts). 11 analysts cover Exchange Income Corporation; the consensus is strong_buy, with an average price target of C$151.82 (+26% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 74.1%** (YTD 48.9%, 3-mo -0.2%). The shares are up 74.1% over twelve months including dividends.
- **From 52-week high: -11.9%** (72.9% above the low). Trading 12% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 41**. An RSI of 41 is neutral.
- **Beta (1 yr): 0.74** (volatility 27%). Beta of 0.74 against the S&P/TSX Composite: the shares move roughly with the market.

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

Not investment advice.