Timbercreek Financial Corp. (TF.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

-106.4%

-CA$0.33

vs CA$5.13 price

Levered DCF

CA$0.01

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

0.27

Distress zone

Rating

C+

Overall 2 / 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	16.29×	12.63×	8.35×	23.7×	24.03×	32.04×	34.24×	14.58×
P/B	0.86×	0.85×	0.8×	0.85×	1.14×	1.03×	1.13×	1.08×
P/S	3.84×	3.64×	3.08×	4×	6.7×	5.63×	6.5×	6.11×
EV / EBITDA	28.41×	19.77×	12.67×	18.22×	28.37×	31.7×	22.65×	22.21×
Gross margin	59.7%	45.3%	44.6%	49.4%	53.4%	52.6%	51.6%	51.2%
Operating margin	45.4%	48.2%	58.5%	59.3%	52.2%	49.8%	67.3%	63.9%
Net margin	23.4%	28.6%	36.7%	37.6%	35.4%	25.5%	43.3%	41.9%
Current ratio	0.25×	2.6×	2.69×	6.39×	1.62×	1.65×	1.34×	0.01×
Debt / equity	1.97×	0.78×	0.57×	0.85×	0.86×	0.85×	0.86×	0.9×
Interest coverage	2.14×	7.76×	11.76×	9.77×	9.02×	7.26×	9.66×	7.62×
Dividend yield	9.1%	9.6%	9.3%	8.8%	6.6%	7.3%	6.4%	6.5%
Payout ratio	150.2%	121.7%	77.9%	93.4%	124.1%	162.1%	95.8%	94.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	5.2%	6.7%	9.5%	8.0%	6.0%	4.7%	7.5%	7.4%
Return on invested capital	3.4%	4.7%	6.2%	4.6%	3.5%	3.7%	4.8%	4.2%
Return on assets	1.7%	2.7%	3.7%	2.9%	2.4%	1.9%	3.0%	2.7%
Free cash flow yield	6.0%	-11.8%	46.5%	14.0%	10.4%	11.2%	12.5%	10.1%
Earnings yield	6.1%	7.9%	11.9%	9.4%	5.3%	4.5%	6.7%	6.9%
Enterprise value	CA$1.9B	CA$1.1B	CA$955.6M	CA$1.2B	CA$1.4B	CA$1.3B	CA$1.4B	CA$1.4B
Net debt / EBITDA	19.79×	9.33×	5.27×	9.06×	12.1×	14.27×	9.73×	10.06×
Cash conversion cycle (days)	132	718	661	264	134	129	89	-53