# Onex Corporation (ONEX.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Financial Services / Capital Markets. Price C$113.85, market value C$8.7 billion.

## Valuation
- **P/E (trailing): 12.2×** (5-yr avg 16.7×, 3-yr avg 18.0×). Onex Corporation trades at 12.2× trailing earnings, well below its own five-year average of 16.7×: cheap by its own standards. The Financial Services median in the September 2026 study was 13.1×. Forward P/E is 23.6×, higher than trailing, so analysts expect earnings to fall.
- **PEG: 0.19**. A PEG of 0.19 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 13.2×**. Each dollar of revenue is priced at 13.2×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 0.6×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **EV / EBITDA: 9.7×**. Enterprise value is 9.7× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: -3.3%** (5-yr avg 1.7%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.
- **Earnings yield: 8.2%**. The inverse of the P/E: 8.2% of the price is earned each year.

## Profitability
- **Gross margin: 73.9%**. Onex Corporation keeps 73.9% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 103.7%**. 103.7% of revenue is left after running the business, an exceptional level.
- **Net margin: 214.2%**. 214.2% of each dollar of sales reaches the bottom line.
- **Return on equity: 7.2%**. 7.2% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 6.5%**. Return on all capital, debt included, is 6.5%.
- **Return on assets: 4.3%**. Each dollar of assets produces 4.3% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): -54.7%** (3-yr -12.5%/yr, 5-yr -23.8%/yr). Revenue fell 54.7% over the last year, against -23.8% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 124.3%** (3-yr 47.9%/yr, 5-yr 3.3%/yr). Earnings per share rose 124.3%, faster than revenue, so margins expanded or the share count shrank.

## Financial health
- **Piotroski F-score: 8/9**. 8 of 9 fundamental checks pass: strong and improving financials.
- **Cash and short-term investments: C$1.8 billion**. 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: 0.35%** (C$0.40 per share, trailing). Onex Corporation yields 0.35%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 3%**. 3% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 26**. 26 straight years of increases (the data covers 26 years, so this may be longer): a record very few companies hold.
- **Dividend growth (5 yr): 0.0%/yr** (1-yr 0.0%). The dividend has not grown over five years.

## Price and momentum
- **Total return (1 yr): -4.2%** (YTD 1.2%, 3-mo 4.6%). The shares are down 4.2% over twelve months including dividends.
- **From 52-week high: -13.3%** (19.7% above the low). Trading 13% 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): 54**. An RSI of 54 is neutral.
- **Beta (1 yr): 0.77** (volatility 25%). Beta of 0.77 against the S&P/TSX Composite: the shares move roughly with the market.

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

Not investment advice.