# Fiera Capital Corporation (FSZ.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Financial Services / Capital Markets. Price C$4.40, market value C$466 million.

## Valuation
- **P/E (trailing): 24.4×** (5-yr avg 20.3×, 3-yr avg 21.8×). Fiera Capital Corporation trades at 24.4× trailing earnings, well above its own five-year average of 20.3×: 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 4.5×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.15**. A PEG of 0.15 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 1.0×**. Each dollar of revenue is priced at 1.0×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 2.0×**. The shares trade at 2.0× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 9.2×**. Enterprise value is 9.2× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 24.5%** (5-yr avg 17.1%). Free cash flow equals 24.5% of the market value, above its five-year average of 17.1%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 4.1%**. The inverse of the P/E: 4.1% of the price is earned each year.

## Profitability
- **Operating margin: 22.4%**. 22.4% of revenue is left after running the business, a healthy level in most sectors.
- **Net margin: 6.0%**. 6.0% of each dollar of sales reaches the bottom line.
- **Return on equity: 14.9%**. 14.9% on shareholders' equity is solid.
- **Return on invested capital: 6.9%**. Return on all capital, debt included, is 6.9%.
- **Return on assets: 1.6%**. Each dollar of assets produces 1.6% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): -3.1%** (3-yr -0.5%/yr, 5-yr -1.0%/yr). Revenue fell 3.1% over the last year, against -1.0% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 30.4%** (3-yr 7.7%/yr). Earnings per share rose 30.4%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): -4.8%/yr**. Free cash flow has compounded at -4.8% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.
- **Cash and short-term investments: C$53 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: 9.82%** (C$0.43 per share, trailing). Fiera Capital Corporation yields 9.82%, high enough to check carefully: yields this high often precede a cut.
- **Payout ratio: 147%** (42% of free cash flow). The dividend exceeds earnings (147% payout), though free cash flow still covers it.
- **Dividend growth (5 yr): -8.5%/yr** (1-yr -37.3%). The dividend has not grown over five years.
- **Shareholder yield: 11.6%**. Dividends plus net buybacks return 11.6% of the market value a year.

## Price and momentum
- **Total return (1 yr): -31.6%** (YTD -26.2%, 3-mo -17.8%). The shares are down 31.6% over twelve months including dividends.
- **From 52-week high: -37.3%** (7.6% above the low). Trading 37% below its 52-week high, deep in a drawdown.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 40**. An RSI of 40 is neutral.
- **Beta (1 yr): 0.70** (volatility 27%). Beta of 0.70 against the S&P/TSX Composite: the shares move roughly with the market.

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

Not investment advice.