CI Financial is a diversified provider of wealth management products and services, primarily in the Canadian market. The company had CAD 119.0 billion in core assets under management, another CAD 278.5 billion in wealth management assets under advisement, and CAD 23.4 billion in assets under custody at the end of September 2023, making it one of the largest nonbank affiliated asset managers in Canada. The company operates its fund business through CI Global Asset Management, which offers a broad selection of investment funds. On the wealth management side, the company operates through CI Assante Wealth Management, Aligned Capital Partners, CI Private Wealth, as well as a large group of acquired U.S.-based advisors, providing financial advice primarily to high-net-worth clients.

Financial Strength

4/10

Name	Current	Vs Industry
Cash-To-Debt	0.04
Equity-to-Asset	0.09
Debt-to-Equity	4.5
Debt-to-EBITDA	11.26
Interest Coverage	3.02
Piotroski F-Score	5/9	0 1 2 3 4 5 6 7 8 9
Altman Z-Score	-0.01	Distress Grey Safe
Beneish M-Score	-2.45	Manipulator Not Manipulator
WACC vs ROIC		WACC ROIC

Growth Rank

6/10

	Name	Current	Vs Industry		Vs History
	3-Year Revenue Growth Rate	23.6
	3-Year EBITDA Growth Rate	-4.6
	3-Year EPS without NRI Growth Rate	-20.1
	3-Year FCF Growth Rate	-0.8
	3-Year Book Growth Rate	-3.9
	Future 3-5Y Total Revenue Growth Rate	-2.62

Momentum Rank

10/10

	Name	Current	Vs Industry		Vs History
	5-Day RSI	33.82
	9-Day RSI	33.27
	14-Day RSI	33.27
	6-1 Month Momentum %	17.24
	12-1 Month Momentum %	23.88

Liquidity Ratio

	Name	Current	Vs Industry		Vs History
	Current Ratio	0.33
	Quick Ratio	0.33
	Cash Ratio	0.03
	Days Sales Outstanding	43.88
	Days Payable	591.13

Dividend & Buy Back

	Name	Current	Vs Industry		Vs History
	Dividend Yield %	5.25
	Dividend Payout Ratio	1.65
	3-Year Dividend Growth Rate	0.9
	Forward Dividend Yield %	5.44
	5-Year Yield-on-Cost %	3.75
	3-Year Average Share Buyback Ratio	9.9
	Shareholder Yield %	53.49

Profitability Rank

9/10

	Name	Current	Vs Industry		Vs History
	Gross Margin %	71.04
	Operating Margin %	17.12
	Net Margin %	-5.71
	FCF Margin %	11.28
	ROE %	-14.62
	ROA %	-1.81
	ROIC %	31.07
	ROC (Joel Greenblatt) %	59.76
	ROCE %	2.82
	Years of Profitability over Past 10-Year	10

GF Value Rank

8/10

	Name	Current	Vs Industry		Vs History
	Forward PE Ratio	4.75
	PE Ratio without NRI	31.24
	Shiller PE Ratio	7.34
	PS Ratio	0.77
	PB Ratio	2.58
	Price-to-Free-Cash-Flow	7
	Price-to-Operating-Cash-Flow	5.76
	EV-to-EBIT	38.03
	EV-to-Forward-EBIT	11.45
	EV-to-EBITDA	16.46
	EV-to-Forward-EBITDA	8.19
	EV-to-Revenue	1.84
	EV-to-Forward-Revenue	2.17
	EV-to-FCF	16.7
	Price-to-Projected-FCF	0.28
	Price-to-Median-PS-Value	0.31
	Earnings Yield (Greenblatt) %	2.63
	FCF Yield %	16.26
	Forward Rate of Return (Yacktman) %	14.93

GF Value: $15.88

CIXXF

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