US Financial 15 Split Corp (FTU-PB.TO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-1085.3%

-CA$6.60

vs CA$0.67 price

Levered DCF

-CA$7.34

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.93

Grey zone

Rating

C-

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	0×	0.22×	-0.26×	-1.19×	0.25×	-0.22×	0.91×	3.93×
P/B	0×	0×	0×	0×	0.07×	0.04×	0.05×	0×
P/S	0.44×	0.21×	-0.33×	-2.28×	0.24×	0.62×	0.71×	2.04×
EV / EBITDA	11.2×	2.61×	0×	9.91×	10.9×	9.56×	11.34×	0×
Gross margin	95.2%	18.6%	100.0%	-471.7%	19.0%	84.4%	87.7%	100.0%
Operating margin	58.2%	96.2%	115.4%	191.8%	32.2%	161.9%	78.4%	52.9%
Net margin	0.0%	96.2%	126.0%	191.8%	95.2%	-284.8%	78.4%	52.9%
Current ratio	1×	0.07×	0.09×	13.41×	1.46×	2.45×	4.82×	15.68×
Debt / equity	0×	0×	0×	0×	1×	0.99×	1×	0×
Interest coverage	1.01×	0×	0×	0×	0×	0×	0×	0×
Dividend yield	131.4%	94.5%	368.2%	191.8%	128.9%	255.2%	183.6%	120.1%
Payout ratio	0.0%	20.3%	-95.3%	-228.5%	32.1%	-55.9%	166.5%	463.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	0.0%	0.0%	0.0%	0.0%	28.6%	-18.6%	5.6%	0.0%
Return on invested capital	0.0%	38.7%	-10.3%	-2.2%	0.0%	5.3%	5.6%	1.2%
Return on assets	0.0%	38.3%	-11.1%	-4.4%	28.3%	-18.4%	5.5%	1.2%
Free cash flow yield	5.9%	150.5%	212.2%	350.0%	122.4%	260.5%	926.8%	195.1%
Earnings yield	0.0%	464.4%	-386.5%	-84.0%	401.1%	-456.1%	110.2%	25.9%
Enterprise value	CA$13.5M	CA$15.4M	CA$10.5M	CA$12.8M	CA$16.3M	CA$12.7M	CA$16.7M	CA$23.6M
Net debt / EBITDA	10.44×	2.4×	0×	9.35×	10.16×	9.17×	10.78×	0×
Cash conversion cycle (days)	2	-390	-302	-336	-359	-355	-268	28