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Canadian General Investments

TSX:CGI
Snowflake Description

Undervalued with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CGI
TSX
CA$396M
Market Cap
  1. Home
  2. CA
  3. Diversified Financials
Company description

Canadian General Investments, Limited is a close ended equity mutual fund launched and managed by Morgan Meighen & Associates Limited. The last earnings update was 21 days ago. More info.


Add to Portfolio Compare Print
  • Canadian General Investments is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • Canadian General Investments has significant price volatility in the past 3 months.
CGI Share Price and Events
7 Day Returns
0.3%
TSX:CGI
-0.3%
CA Capital Markets
2.5%
CA Market
1 Year Returns
-23.2%
TSX:CGI
-21.2%
CA Capital Markets
-24.8%
CA Market
CGI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Canadian General Investments (CGI) 0.3% -19.5% -27.4% -23.2% -8.2% -8.4%
CA Capital Markets -0.3% -25% -26.2% -21.2% -20.9% -21.9%
CA Market 2.5% -20.8% -24.7% -24.8% -22.2% -17%
1 Year Return vs Industry and Market
  • CGI underperformed the Capital Markets industry which returned -21.2% over the past year.
  • CGI outperformed the Market in Canada which returned -24.8% over the past year.
Price Volatility
CGI
Industry
5yr Volatility vs Market

CGI Value

 Is Canadian General Investments undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Canadian General Investments to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Canadian General Investments.

TSX:CGI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= CA$33.14 * 15.2%
CA$5.03
Book Value of Equity per Share Median Book Value from the past 5 years. CA$33.14
Discount Rate (Cost of Equity) See below 7.6%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:CGI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.4%
Equity Risk Premium S&P Global 5.4%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.74
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.743 (1 + (1- 26.5%) (43.6%))
1.123
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.12
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.44% + (1.123 * 5.44%)
7.55%

Discounted Cash Flow Calculation for TSX:CGI using Excess Returns Model Model

The calculations below outline how an intrinsic value for Canadian General Investments is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

TSX:CGI Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (15.2% – 7.55%) * CA$33.14)
CA$2.53
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CA$2.53 / (7.55% - 1.44%)
CA$41.40
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CA$33.14 + CA$41.40
CA$74.55
TSX:CGI Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$74.55
Current discount Discount to share price of CA$19.00
= -1 x (CA$19.00 - CA$74.55) / CA$74.55
74.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Canadian General Investments is available for.
Intrinsic value
>50%
Share price is CA$19 vs Future cash flow value of CA$74.55
Current Discount Checks
For Canadian General Investments to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Canadian General Investments's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Canadian General Investments's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Canadian General Investments's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Canadian General Investments's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:CGI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CAD CA$8.92
TSX:CGI Share Price ** TSX (2020-04-03) in CAD CA$19
Canada Capital Markets Industry PE Ratio Median Figure of 15 Publicly-Listed Capital Markets Companies 7.28x
Canada Market PE Ratio Median Figure of 497 Publicly-Listed Companies 10.31x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Canadian General Investments.

TSX:CGI PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:CGI Share Price ÷ EPS (both in CAD)

= 19 ÷ 8.92

2.13x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Canadian General Investments is good value based on earnings compared to the CA Capital Markets industry average.
  • Canadian General Investments is good value based on earnings compared to the Canada market.
Price based on expected Growth
Does Canadian General Investments's expected growth come at a high price?
Raw Data
TSX:CGI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 2.13x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
North America Capital Markets Industry PEG Ratio Median Figure of 39 Publicly-Listed Capital Markets Companies 1.93x
Canada Market PEG Ratio Median Figure of 233 Publicly-Listed Companies 0.68x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Canadian General Investments, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Canadian General Investments's assets?
Raw Data
TSX:CGI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CAD CA$36.98
TSX:CGI Share Price * TSX (2020-04-03) in CAD CA$19
Canada Capital Markets Industry PB Ratio Median Figure of 160 Publicly-Listed Capital Markets Companies 0.82x
Canada Market PB Ratio Median Figure of 2,360 Publicly-Listed Companies 0.99x
TSX:CGI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:CGI Share Price ÷ Book Value per Share (both in CAD)

= 19 ÷ 36.98

0.51x

* Primary Listing of Canadian General Investments.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Canadian General Investments is good value based on assets compared to the CA Capital Markets industry average.
X
Value checks
We assess Canadian General Investments's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Canadian General Investments has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

CGI Future Performance

 How is Canadian General Investments expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Canadian General Investments has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
5.2%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Canadian General Investments expected to grow at an attractive rate?
  • Unable to compare Canadian General Investments's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Canadian General Investments's earnings growth to the Canada market average as no estimate data is available.
  • Unable to compare Canadian General Investments's revenue growth to the Canada market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
TSX:CGI Future Growth Rates Data Sources
Data Point Source Value (per year)
North America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 5.2%
North America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 2.2%
Canada Market Earnings Growth Rate Market Cap Weighted Average 5.1%
Canada Market Revenue Growth Rate Market Cap Weighted Average 3.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:CGI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:CGI Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-12-31 206 -50 186
2019-09-30 123 -19 105
2019-06-30 40 13 24
2019-03-31 -8 49 -25
2018-12-31 -57 84 -73
2018-09-30 58 43 42
2018-06-30 173 3 158
2018-03-31 156 8 141
2017-12-31 139 13 124
2017-09-30 130 29 115
2017-06-30 121 46 106
2017-03-31 113 31 99

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Canadian General Investments is high growth as no earnings estimate data is available.
  • Unable to determine if Canadian General Investments is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:CGI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Canadian General Investments Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:CGI Past Financials Data
Date (Data in CAD Millions) EPS *
2019-12-31 8.92
2019-09-30 5.03
2019-06-30 1.15
2019-03-31 -1.19
2018-12-31 -3.52
2018-09-30 2.04
2018-06-30 7.59
2018-03-31 6.76
2017-12-31 5.93
2017-09-30 5.51
2017-06-30 5.09
2017-03-31 4.73

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Canadian General Investments will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Canadian General Investments's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the North America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the North America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Canadian General Investments has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

CGI Past Performance

  How has Canadian General Investments performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Canadian General Investments's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Canadian General Investments has delivered over 20% year on year earnings growth in the past 5 years.
  • Canadian General Investments has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Canadian General Investments has become profitable in the last year making it difficult to compare the CA Capital Markets industry average.
Earnings and Revenue History
Canadian General Investments's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Canadian General Investments Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:CGI Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 205.75 186.07 11.53
2019-09-30 122.96 105.00 11.28
2019-06-30 40.16 23.92 11.04
2019-03-31 -8.40 -24.75 10.90
2018-12-31 -56.96 -73.42 10.77
2018-09-30 58.03 42.47 10.63
2018-06-30 173.01 158.37 10.49
2018-03-31 155.85 141.01 10.16
2017-12-31 138.69 123.65 9.83
2017-09-30 129.86 114.90 9.68
2017-06-30 121.02 106.15 9.53
2017-03-31 112.52 98.56 9.41
2016-12-31 104.02 90.97 9.28
2016-09-30 35.37 21.59 9.12
2016-06-30 -33.28 -47.80 8.97
2016-03-31 -28.59 -43.90 9.09
2015-12-31 -23.90 -40.00 9.21
2015-09-30 -0.71 -14.61 9.36
2015-06-30 22.48 10.79 9.51
2015-03-31 41.59 27.98 9.44
2014-12-31 60.69 45.18 9.37
2014-09-30 119.04 101.83 9.17
2014-06-30 177.39 158.47 8.96
2014-03-31 144.25 126.61 8.74
2013-12-31 111.11 94.76 8.53
2013-09-30 5.28 61.23 8.27
2013-06-30 5.17 25.98 8.02

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Canadian General Investments has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Canadian General Investments used its assets more efficiently than the CA Capital Markets industry average last year based on Return on Assets.
  • Canadian General Investments has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Canadian General Investments's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Canadian General Investments has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

CGI Health

 How is Canadian General Investments's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Canadian General Investments's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Canadian General Investments is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Canadian General Investments's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Canadian General Investments's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 5.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Canadian General Investments Company Filings, last reported 3 months ago.

TSX:CGI Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 771.55 172.83 946.99
2019-09-30 771.55 172.83 946.99
2019-06-30 752.96 172.64 923.22
2019-03-31 752.96 172.64 923.22
2018-12-31 602.16 149.04 751.66
2018-09-30 602.16 149.04 751.66
2018-06-30 745.30 148.91 892.58
2018-03-31 745.30 148.91 892.58
2017-12-31 691.44 148.79 840.73
2017-09-30 691.44 148.79 840.73
2017-06-30 603.20 148.66 763.78
2017-03-31 603.20 148.66 763.78
2016-12-31 583.64 148.55 730.48
2016-09-30 583.64 148.55 730.48
2016-06-30 513.74 148.47 659.24
2016-03-31 513.74 148.47 659.24
2015-12-31 508.53 148.53 657.86
2015-09-30 508.53 148.53 657.86
2015-06-30 578.23 148.44 725.16
2015-03-31 578.23 148.44 725.16
2014-12-31 564.38 148.37 712.95
2014-09-30 564.38 148.37 712.95
2014-06-30 584.13 148.28 734.44
2014-03-31 584.13 148.28 734.44
2013-12-31 535.06 148.21 684.39
2013-09-30 533.40 148.21 682.73
2013-06-30 442.06 148.15 19.37
  • Canadian General Investments's level of debt (22.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (26.3% vs 22.4% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are well covered by earnings (EBIT is 35.9x coverage).
X
Financial health checks
We assess Canadian General Investments's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Canadian General Investments has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

CGI Dividends

 What is Canadian General Investments's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.42%
Current annual income from Canadian General Investments dividends.
If you bought CA$2,000 of Canadian General Investments shares you are expected to receive CA$88 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Canadian General Investments's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.75%).
  • Canadian General Investments's dividend is below the markets top 25% of dividend payers in Canada (8.52%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:CGI Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Canada Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 6.2%
Canada Market Average Dividend Yield Market Cap Weighted Average of 324 Stocks 4.7%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.3%
Canada Bottom 25% Dividend Yield 25th Percentile 2.7%
Canada Top 25% Dividend Yield 75th Percentile 8.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:CGI Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2020-02-20 0.840 4.038
2019-10-16 0.800 3.151
2019-07-17 0.800 3.281
2019-04-10 0.800 3.179
2019-02-20 0.800 3.289
2018-10-17 0.800 3.619
2018-07-18 0.800 3.155
2018-04-18 0.800 3.269
2018-02-21 0.800 3.386
2017-10-18 0.760 3.242
2017-07-26 0.840 3.918
2017-04-19 0.840 3.945
2017-02-15 0.840 4.117
2016-10-19 0.760 4.054
2016-07-20 0.840 4.603
2016-04-14 0.840 4.720
2016-02-10 0.840 4.988
2015-10-20 0.560 3.104
2015-07-30 0.840 4.460
2015-04-22 0.840 4.061
2015-02-18 0.840 4.149
2014-10-21 0.760 3.895
2014-07-22 0.480 2.406
2014-04-16 0.480 2.543
2014-02-11 0.480 2.671
2013-10-22 0.820 4.644
2013-07-23 0.760 4.783
2013-04-29 0.760 4.850
2013-02-13 0.760 4.774
2012-12-10 0.760 4.803
2012-08-31 0.800 5.188
2012-08-07 0.800 5.199
2012-07-25 0.800 5.317
2012-02-29 0.800 5.067
2011-11-30 0.800 4.916
2011-08-31 1.000 6.284
2011-08-29 1.000 6.116
2011-07-26 1.000 6.146
2011-02-28 1.000 5.320
2010-12-08 1.000 5.174
2010-08-30 0.740 4.320
2010-08-10 0.240 1.573
2010-07-20 0.240 1.576
2010-05-31 0.740 4.834
2010-02-26 0.740 4.508
2009-11-30 0.740 4.799
2009-08-31 0.240 1.638
2009-05-29 0.240 1.902

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Canadian General Investments's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (11.2x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Canadian General Investments's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Canadian General Investments afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Canadian General Investments has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

CGI Management

 What is the CEO of Canadian General Investments's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jonathan Morgan
COMPENSATION CA$215,165
TENURE AS CEO 15.2 years
CEO Bio

Mr. Jonathan A. Morgan serves as Principal, Executive Vice President and Chief Operating Officer at Morgan Meighen and Associates Limited. He serves as the Chief Executive Officer, President, and Director of Canadian General Investments Limited and previously served as Vice President. Mr. Morgan serves as a Vice President and Director of the Catherine and Maxwell Meighen Foundation. Previously, he served as the Chief Executive Officer, President, and Director since 2001 of Third Canadian General Investment Trust Limited. Mr. Morgan serves as a Director of the Canadian Opera Company. He has vast years of experience. He is fluent in German and was accepted as a doctoral candidate at Albert -Ludwigs-Universität, Freiburg, Germany in 1996. Mr. Morgan received a Bachelor of Arts (Honors) from Queen's University in 1994.

CEO Compensation
  • Insufficient data for Jonathan to compare compensation growth.
  • Insufficient data for Jonathan to establish whether their remuneration is reasonable compared to companies of similar size in Canada.
Management Team

Jonathan Morgan

TITLE
Chief Executive Officer
COMPENSATION
CA$215K
TENURE
15.2 yrs

Frank Fuernkranz

TITLE
Chief Financial Officer
COMPENSATION
CA$152K
Board of Directors Tenure

Average tenure of the Canadian General Investments board of directors in years:

18.8
Average Tenure
  • The average tenure for the Canadian General Investments board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Vanessa Morgan

TITLE
Chairman
COMPENSATION
CA$238K

Jonathan Morgan

TITLE
Chief Executive Officer
COMPENSATION
CA$215K
TENURE
19.3 yrs

R. Raymond

TITLE
Director
COMPENSATION
CA$56K
TENURE
18.3 yrs

James Cook

TITLE
Director
COMPENSATION
CA$58K
TENURE
19.3 yrs

James Billett

TITLE
Director
COMPENSATION
CA$55K
TENURE
15.3 yrs

Michael Smedley

TITLE
Director
COMPENSATION
CA$426K
TENURE
31.3 yrs

Richard Whittall

TITLE
Director
COMPENSATION
CA$44K
AGE
60
TENURE
16.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
21. Nov 19 Buy A. Lally Individual 20. Nov 19 20. Nov 19 200 CA$24.15 CA$4,830
07. Nov 19 Buy James Billett Individual 07. Nov 19 07. Nov 19 1,000 CA$23.91 CA$23,910
X
Management checks
We assess Canadian General Investments's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Canadian General Investments has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

CGI News

Simply Wall St News

CGI Company Info

Description

Canadian General Investments, Limited is a close ended equity mutual fund launched and managed by Morgan Meighen & Associates Limited. It invests in the public equity markets of Canada. The fund seeks to invest in stocks of companies operating across diversified sectors. It invests in stocks of companies across all market capitalization. The fund employs fundamental analysis with a bottom-up stock picking approach focusing on timely recognition of capital gains and appropriate income generating instruments to create its portfolio. It benchmarks the performance of its portfolio against the S&P/TSX Composite Index. Canadian General Investments, Limited was formed on January 15, 1930 and is domiciled in Ontario, Canada.

Details
Name: Canadian General Investments, Limited
CGI
Exchange: TSX
Founded: 1930
CA$396,361,679
20,861,141
Website: http://www.mmainvestments.com/cgi.cfm
Address: Canadian General Investments, Limited
10 Toronto Street,
Toronto,
Ontario, M5C 2B7,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX CGI Common Shares The Toronto Stock Exchange CA CAD 02. Jan 1976
OTCPK CGRI.F Common Shares Pink Sheets LLC US USD 02. Jan 1976
LSE CGI Common Shares London Stock Exchange GB GBP 02. Jan 1976
Number of employees
Current staff
Staff numbers
0
Canadian General Investments employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/06 01:40
End of day share price update: 2020/04/03 00:00
Last earnings filing: 2020/03/16
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.