# Canoe EIT Income Fund (EIT-UN.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Financial Services / Capital Markets. Price C$17.83, market value C$3.4 billion.

## Valuation
- **P/E (trailing): 5.9×** (5-yr avg 6.8×, 3-yr avg 8.7×). Canoe EIT Income Fund trades at 5.9× trailing earnings, close to its own five-year average of 6.8×. The Financial Services median in the September 2026 study was 13.1×.
- **Price / sales: 5.0×**. Each dollar of revenue is priced at 5.0×.
- **Price / book: 1.0×**. The shares trade at 1.0× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 3.8×**. Enterprise value is 3.8× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 3.0%** (5-yr avg -1.8%). Free cash flow equals 3.0% of the market value, above its five-year average of -1.8%, so the shares are cheaper on cash than they have usually been.
- **Earnings yield: 16.9%**. The inverse of the P/E: 16.9% of the price is earned each year.

## Profitability
- **Gross margin: 92.3%**. Canoe EIT Income Fund keeps 92.3% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 138.1%**. 138.1% of revenue is left after running the business, an exceptional level.
- **Net margin: 96.8%**. 96.8% of each dollar of sales reaches the bottom line.
- **Return on equity: 12.1%**. 12.1% on shareholders' equity is solid.
- **Return on invested capital: 29.5%**. Return on all capital, debt included, is 29.5%: comfortably above what that capital costs.
- **Return on assets: 27.7%**. Each dollar of assets produces 27.7% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 5.3%** (3-yr 20.7%/yr, 5-yr 32.0%/yr). Revenue grew 5.3% over the last year, against 32.0% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -44.0%** (3-yr 6.2%/yr, 5-yr 32.0%/yr). Earnings per share fell 44.0%, slower than revenue, so margins compressed.

## Financial health
- **Piotroski F-score: 3/9**. 3 of 9 checks pass: weak or deteriorating financials.
- **Cash and short-term investments: C$77 million**. 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: 6.75%** (C$1.20 per share, trailing). Canoe EIT Income Fund yields 6.75%, high enough to check carefully: yields this high often precede a cut.
- **Payout ratio: 60%** (373% of free cash flow). 60% of earnings goes out as dividends, leaving room to keep raising it.
- **Dividend growth (5 yr): -1.3%/yr** (1-yr -2.9%). The dividend has not grown over five years.
- **Shareholder yield: 1.5%**. Dividends plus net buybacks return 1.5% of the market value a year.

## Price and momentum
- **Total return (1 yr): 24.9%** (YTD 18.3%, 3-mo 4.6%). The shares are up 24.9% over twelve months including dividends.
- **From 52-week high: -0.7%** (16.9% above the low). Trading within 5% of 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): 60**. An RSI of 60 is neutral.
- **Beta (1 yr): 0.38** (volatility 9%). Beta of 0.38 against the S&P/TSX Composite: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=EIT-UN.TO · Page: https://foliofundamentals.com/stocks/eit-un.to

Not investment advice.