TSX · Asset Management · CAD

North American Financial 15 Split Corp. (FFN.TO) Stock Analysis

North American Financial 15 Split Corp. (FFN.TO) is a Asset Management stock listed on TSX and quoted in Canadian Dollar.

Last Updated: October 21, 2026

FFN.TO

CA$9.16

+CA$0.14 (+1.55%)

Oct 21, 2026 · Market close

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Price History

Hover for the daily close. The dotted line marks the period open.

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FFN.TO Key Statistics

As of Oct 21, 2026

Trading

Open: CA$9.03
Previous Close: CA$9.02
Day's Range: 9.03–9.18
52-Week Range: 7.05–11.91
Volume: 119.08K
Beta: 2.70

Valuation

Market Cap: CA$640.27M
P/E Ratio: 1.88
P/S ratio: 1.67
EPS (ttm): 4.86

Financials (FY)

Revenue (FY): CA$223.82M−37.77%
Net Income (FY): CA$220.03M−38.23%
Profit margin: 84.41%
Shares Outstanding: 69.90M
1-Year Return: +27.11%

Dividend and dates

Dividend: CA$1.36+15.08%
Ex-Dividend Date: October 30, 2026
Avg Volume: 193.59K

Only metrics the company reports are shown. Data provided by Yahoo Finance via yfinance. Updated daily.

Key facts

As of October 21, 2026, FFN.TO closed at CA$9.16, +27.11% over 1 year.

North American Financial 15 Split Corp. (FFN.TO) has a market capitalization of CA$640.27M.

In fiscal 2025, FFN.TO reported revenue of CA$223.82M.

FFN.TO Stock Return by Calendar Year

North American Financial 15 Split Corp. (FFN.TO) 10-year return: what CA$10,000 became

1 year: CA$10,000 CA$12,711; +27.11%
5 years: CA$10,000 CA$22,005; +120.05%
10 years: CA$10,000 CA$39,467; +294.67%

If you had invested CA$10,000 in North American Financial 15 Split Corp. (FFN.TO) 10 years ago, at the close on October 21, 2016, it would have been worth CA$39,467 at the close on October 21, 2026: +294.67% in total, +14.72% a year, with dividends reinvested. A historical calculation from closing prices adjusted for splits and dividends, before fees and taxes.

Calendar-year returns computed from daily closing prices. Partial years are shown muted and marked with an asterisk.

−42.88%+116.04%+2.05%

2016*2017201820192020202120222023202420252026*

Year	Return
2026 (partial year)	+2.05%
2025	+64.88%
2024	+90.07%
2023	+8.34%
2022	−38.95%
2021	+116.04%
2020	−39.06%
2019	+63.63%
2018	−42.88%
2017	+7.86%
2016 (partial year)	+61.99%

As of October 21, 2026.

FFN.TO Revenue and Earnings by Fiscal Year

FY ends November

RevenueNet income

2022202320242025

Fiscal year	Revenue	Net income	Net margin
2025	CA$223.82M	CA$220.03M	98.3%
2024	CA$359.65M	CA$356.19M	99.0%
2023	−CA$23.82M	−CA$27.28M	114.5%
2022	−CA$3.82M	−CA$7.28M	190.8%

Fiscal year	Revenue	Gross profit	Operating income	Net income	Net margin
2025	CA$223.82M	—	—	CA$220.03M	98.3%
2024	CA$359.65M	—	—	CA$356.19M	99.0%
2023	−CA$23.82M	—	—	−CA$27.28M	114.5%
2022	−CA$3.82M	—	—	−CA$7.28M	190.8%

Annual figures as reported, in the company's reporting currency. As of November 30, 2025.

FFN.TO Dividend History

’16’17’18’19’20’21’22’23’24’25’26*

CA$1.23+9.1% vs 2024

Dividends per share, 2025 · 12 payments

Year	Dividends per share	Payments	Change
2026*	CA$0.84	8	—
2025	CA$1.23	12	+9.1%
2024	CA$1.13	11	+450.0%
2023	CA$0.21	2	−60.0%

Year	Dividends per share	Payments	Change
2026 (partial year)	CA$0.84	8	—
2025	CA$1.23	12	+9.1%
2024	CA$1.13	11	+450.0%
2023	CA$0.21	2	−60.0%
2022	CA$0.51	5	−58.3%
2021	CA$1.23	12	+398.5%
2020	CA$0.25	3	−78.4%
2019	CA$1.15	11	+1.2%
2018	CA$1.13	11	−8.3%
2017	CA$1.24	12	+300.0%
2016	CA$0.31	3	—

Most recent payment: CA$0.11 per share, ex-dividend August 31, 2026. Per-share amounts summed by calendar year from ex-dividend dates. Partial years are shown muted and marked with an asterisk.

FFN.TO Valuation vs Asset Management Median

Median of 512 stocks

Metric	FFN.TO	Asset Management median	vs median
P/E	1.88	9.44	0.2x the median
P/S ratio	1.67	8.59	0.2x the median
Profit margin	84.41%	74.97%	9.4 pts above

Medians across 512 Asset Management stocks that report the metric. Medians, not averages, so one outlier cannot move them. As of October 21, 2026.

Analysis

Data-derived

Company Overview

North American Financial 15 Split Corp. (FFN.TO) carries a market capitalisation of CA$640.27M. The company sits in the Financial Services sector, in the Asset Management industry.

FFN.TO last closed at CA$9.16 on October 21, 2026. That is +CA$0.14 (+1.55%) against the previous close. The 52-week range on file runs from CA$7.05 to CA$11.91. The latest close sits 29.93% above that 52-week low.

Financial Health

Fiscal 2025 revenue came to CA$223.82M. That is −37.77% against the prior fiscal year, when revenue was CA$359.65M. The same year closed with net income of CA$220.03M. That is −38.23% against the prior fiscal year. Profit margin runs at 84.41%. That is 9.4 percentage points above the Asset Management median of 74.97%. Earnings per share on a trailing basis come to 4.86.

Across the 4 fiscal years on file, revenue moves from −CA$3.82M in 2022 to CA$223.82M in 2025. Of those 4 years, 2 report positive net income.

Valuation Assessment

On trailing earnings, the shares are priced at 1.88 times earnings. That is 0.2 times the Asset Management median of 9.44. The price-to-sales ratio is 1.67. On price-to-sales that is 0.2 times the Asset Management median of 8.59. The medians here are taken across 512 Asset Management companies that report the metric.

Beta against the wider market is reported at 2.7. Daily returns over the trailing 10 years annualize to a volatility of 41.04%. The trailing one-year total return is +27.11%. Measured over 10 years, that is +14.72% a year compounded.

Growth & Income

The trailing dividend yield is 15.08%. That is 6.2 percentage points above the Asset Management median yield of 8.91%. The indicated annual rate is CA$1.36 a share. The ex-dividend date on file is October 30, 2026. Dividends are recorded for 11 calendar years; 2026 shows 8 payments totalling CA$0.84 a share. The year before, 2025, totalled CA$1.23 a share.

The strongest complete calendar year on file is 2021 at +116.04%; the weakest is 2018 at −42.88%. Of the 9 complete calendar years on file, 6 finished higher. 2026 is still running; the total return is +2.05% year to date.

Peer Comparison

North American Financial 15 Split Corp. (FFN.TO) operates in the Asset Management industry. Here is how it compares to its closest peers by market capitalization:

Company	Ticker	Market Cap	P/E Ratio
North American Financial 15 Split Corp.	FFN.TO	CA$640.27M	1.9
BlackRock, Inc.	BLK	$184.31B	25.8
Blackstone Inc.	BX	$127.43B	23.9
Brookfield Corporation	BN	$83.74B	69.5

Market caps are shown in each company's own trading currency, without conversion, and the peers are listed in order of these unconverted figures.

The Asset Management industry average P/E ratio is 9.4x. North American Financial 15 Split Corp. trades at a P/E of 1.9.

Every figure above is read from this page's own data on each daily rebuild. Informational only, not financial advice. As of October 21, 2026.

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About North American Financial 15 Split Corp.

North American Financial 15 Split Corp. is an equity mutual fund launched by Quadravest Inc. It is managed by Quadravest Capital Management Inc. The fund invests in public equity markets of United States and Canada. It invests in high quality portfolio of preferred shares and Class A shares of 15 financial services companies. The fund employs investment strategy along with fundamental based equity investing with covered call writing to create its portfolio. It was formerly known as Financial 15 Split Corp. II. North American Financial 15 Split Corp. was formed on October 15, 2004 and is domiciled in Canada.

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