Canoe EIT Income Fund (EIT.UN) AI Stock Analysis

• Market Cap: N/A
• Dividend Yield: 8.2%
• Average Volume (3M): 209.66K
• Price to Earnings (P/E): 4.2
• Beta (1Y): 0.64
• Revenue Growth: -31.97%
• EPS Growth: 71.14%
• Country: CA
• Employees: 98
• Sector: Real Estate
• Sector Strength: 63
• Industry: Asset Management
• EPS (TTM): 3.57
• Shares Outstanding: 180,930,480
• 10 Day Avg. Volume: 133,279
• 30 Day Avg. Volume: 209,655
• PEG Ratio: 0.01
• Price to Book (P/B): N/A
• Price to Sales (P/S): 7.28
• Price to Cash Flow (P/CF): 547.10
• P/FCF Ratio: -8.70
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

Canoe EIT Income Fund's overall score reflects a challenging financial performance, particularly in terms of declining revenue and negative cash flows. However, the strong balance sheet and attractive valuation, including a high dividend yield, provide some offsets. The technical analysis suggests potential for recovery, but the absence of earnings call data and notable corporate events leaves some uncertainty.

Canoe EIT Income Fund Business Overview & Revenue Model

Company Description

Canoe EIT Income Fund (EIT.UN) is a closed-end investment trust focused on generating income and capital appreciation by investing in a diversified portfolio of securities. The fund primarily targets high-yielding equity and fixed-income securities across various sectors, with an emphasis on Canadian and U.S. markets. Managed by Canoe Financial, the fund seeks to provide unitholders with monthly cash distributions while preserving capital.

How the Company Makes Money

Canoe EIT Income Fund generates revenue primarily through its investments in a diversified portfolio of equity and fixed-income securities. The fund earns income from dividends and interest payments from these investments. Additionally, the fund may realize capital gains from the appreciation and strategic selling of securities within its portfolio. The management team at Canoe Financial actively manages the fund's assets to maximize income and growth potential, balancing risk and return. The fund's revenue is further supported by fees collected from unitholders, including management fees and performance-based incentives. These revenue streams are critical in maintaining the fund's objective of providing consistent monthly distributions to investors.

Canoe EIT Income Fund Financial Statement Overview

Summary

The company's financial performance is mixed. The income statement shows declining revenue and profits, while the balance sheet is strong with low leverage and a solid equity base. However, cash flow statements reveal significant challenges with negative cash flows, indicating operational inefficiencies.

Income Statement

The company's income statement indicates a challenging period with declining revenue and profits. The gross profit margin stands at 83.5% for 2023, which is strong, but the net profit margin of 72.3% reflects a sharp decrease in net income. Revenue growth has been negative, showing a significant decline from the previous year. EBIT and EBITDA margins are also under pressure, indicating decreased operational efficiency.

Balance Sheet

The balance sheet is relatively strong, with a debt-to-equity ratio of 0.04, suggesting low leverage. The equity ratio is robust at 87.3%, indicating a solid equity base. Return on equity (ROE) is 5.4%, which shows room for improvement. The company has maintained stable total assets, but the decrease in cash and cash equivalents raises liquidity concerns.

Cash Flow

Cash flow analysis reveals significant challenges, with negative operating cash flow and free cash flow, indicating operational inefficiencies. The free cash flow to net income ratio is negative, showing that the company is not generating sufficient cash from its operations. The operating cash flow to net income ratio is also negative, highlighting the need for improved cash management.

Breakdown
TTM	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Income Statement		Total Revenue
402.10M	172.47M	278.12M	597.15M	80.52M	187.70M
	Gross Profit
354.08M	144.04M	250.84M	576.64M	60.02M	168.17M
	EBIT
505.91M	139.38M	255.37M	575.86M	59.57M	167.65M
	EBITDA
332.85M	1.73M	0.00	0.00	0.00	0.00
	Net Income Common Stockholders
478.23M	124.73M	255.37M	575.86M	59.57M	167.65M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
359.11M	14.77M	98.23M	145.48M	43.76M	167.14M
	Total Assets
1.39B	2.66B	2.51B	2.24B	1.55B	1.61B
	Total Debt
98.91M	95.99M	98.09M	91.64M	92.23M	94.08M
	Net Debt
-260.21M	81.22M	-139.00K	-53.84M	48.48M	-73.06M
	Total Liabilities
326.54M	338.30M	337.22M	327.44M	324.14M	324.84M
	Stockholders Equity
1.07B	2.32B	2.17B	1.91B	1.23B	1.28B
Cash Flow		Free Cash Flow
62.68M	-112.77M	-50.13M	-12.09M	-9.36M	-236.47M
	Operating Cash Flow
62.68M	-112.77M	-50.13M	-12.09M	-9.36M	-236.47M
	Investing Cash Flow
-54.51M	0.00	-73.46M	-21.14M	-4.99M	-233.69M
	Financing Cash Flow
-303.83M	27.59M	8.68M	115.42M	-115.90M	48.54M

Canoe EIT Income Fund Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 14.59
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:EIT.UN, the sentiment is Negative. The current price of 14.59 is below the 20-day moving average (MA) of 15.02, below the 50-day MA of 15.05, and above the 200-day MA of 14.38, indicating a neutral trend. The MACD of 0.04 indicates Negative momentum. The RSI at 50.55 is Neutral, neither overbought nor oversold. The STOCH value of 24.91 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:EIT.UN.

Canoe EIT Income Fund Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MFC	75 Outperform	$74.41B	15.14	11.03%	3.85%	7.64%	9.22%
POW	75 Outperform	C$33.14B	15.47	10.36%	4.45%	30.81%	-2.47%
GWO	73 Outperform	C$52.84B	13.58	15.52%	4.01%	-2.40%	42.24%
BAM	68 Neutral	C$108.49B	37.51	20.07%	3.31%	27.17%	16.13%
Sector *	61 Neutral	$4.72B	17.64	-3.07%	10.89%	5.99%	-21.86%
FSZ	59 Neutral	C$649.28M	25.79	8.22%	14.32%	5.64%	-57.76%
EIT.UN	58 Neutral		4.18	25.07%	8.20%	-31.97%	71.14%

Canoe EIT Income Fund Corporate Events

Canoe Financial Declares Special Non-Cash Distribution for EIT Income Fund

Canoe Financial has announced a special non-cash distribution for the unitholders of Canoe EIT Income Fund, amounting to $0.45 per unit, applicable to unitholders of record as of December 31, 2024. This distribution will be reinvested in additional units, immediately consolidated with the existing units to maintain the current number of outstanding units, and will adjust each unitholder’s cost base. This strategic move ensures compliance with tax obligations by distributing any residual net realized capital gains and income before the Fund’s taxation year ends.

Canoe EIT Income Fund Declares January 2025 Distribution

Canoe EIT Income Fund has declared its January 2025 monthly distribution of $0.10 per unit, payable to unitholders on February 14, 2025. This announcement highlights the fund’s ongoing commitment to providing stable returns to investors. However, it also emphasizes the importance of understanding that the distribution may include a return of capital, which could impact the fund’s future income-generating capabilities.