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Economic Investment Trust

TSX:EVT
Snowflake Description

Excellent balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
EVT
TSX
CA$464M
Market Cap
  1. Home
  2. CA
  3. Diversified Financials
Company description

Economic Investment Trust Limited is a closed-ended equity mutual fund launched and managed by Burgundy Asset Management Ltd. The last earnings update was 45 days ago. More info.


Add to Portfolio Compare Print
  • Economic Investment Trust is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
EVT Share Price and Events
7 Day Returns
-0.3%
TSX:EVT
2%
CA Capital Markets
6.4%
CA Market
1 Year Returns
-23%
TSX:EVT
-19.2%
CA Capital Markets
-25.5%
CA Market
EVT Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Economic Investment Trust (EVT) -0.3% -20.2% - -23% -23.1% -10.6%
CA Capital Markets 2% -24% -26.2% -19.2% -20% -21.3%
CA Market 6.4% -22.6% -26.8% -25.5% -23.5% -17.4%
1 Year Return vs Industry and Market
  • EVT underperformed the Capital Markets industry which returned -19.2% over the past year.
  • EVT outperformed the Market in Canada which returned -25.5% over the past year.
Price Volatility
EVT
Industry
5yr Volatility vs Market

Value

 Is Economic Investment Trust 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 Economic Investment Trust 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 Economic Investment Trust.

TSX:EVT 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$150.19 * 4.7%
CA$7.09
Book Value of Equity per Share Median Book Value from the past 5 years. CA$150.19
Discount Rate (Cost of Equity) See below 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:EVT
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 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.752 (1 + (1- 26.5%) (0%))
0.834
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.83
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.44% + (0.834 * 5.44%)
5.98%

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

The calculations below outline how an intrinsic value for Economic Investment Trust 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:EVT Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (4.7% – 5.98%) * CA$150.19)
CA$-1.88
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CA$-1.88 / (5.98% - 1.44%)
CA$-41.47
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CA$150.19 + CA$-41.47
CA$108.72
TSX:EVT Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$108.72
Current discount Discount to share price of CA$82.71
= -1 x (CA$82.71 - CA$108.72) / CA$108.72
23.9%

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

Current Discount
Amount off the current price Economic Investment Trust is available for.
Intrinsic value
24%
Share price is CA$82.71 vs Future cash flow value of CA$108.72
Current Discount Checks
For Economic Investment Trust to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Economic Investment Trust's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Economic Investment Trust's share price is below the future cash flow value, but not 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 Economic Investment Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Economic Investment Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:EVT PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CAD CA$20.21
TSX:EVT Share Price ** TSX (2020-03-26) in CAD CA$82.71
Canada Capital Markets Industry PE Ratio Median Figure of 16 Publicly-Listed Capital Markets Companies 7.37x
Canada Market PE Ratio Median Figure of 500 Publicly-Listed Companies 10.58x

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

** Primary Listing of Economic Investment Trust.

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

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

= 82.71 ÷ 20.21

4.09x

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

  • Economic Investment Trust is good value based on earnings compared to the CA Capital Markets industry average.
  • Economic Investment Trust is good value based on earnings compared to the Canada market.
Price based on expected Growth
Does Economic Investment Trust's expected growth come at a high price?
Raw Data
TSX:EVT PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 4.09x
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 1.81x
Canada Market PEG Ratio Median Figure of 235 Publicly-Listed Companies 0.71x

*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 Economic Investment Trust, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Economic Investment Trust's assets?
Raw Data
TSX:EVT PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CAD CA$160.91
TSX:EVT Share Price * TSX (2020-03-26) in CAD CA$82.71
Canada Capital Markets Industry PB Ratio Median Figure of 157 Publicly-Listed Capital Markets Companies 0.82x
Canada Market PB Ratio Median Figure of 2,349 Publicly-Listed Companies 0.99x
TSX:EVT PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 82.71 ÷ 160.91

0.51x

* Primary Listing of Economic Investment Trust.

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

  • Economic Investment Trust is good value based on assets compared to the CA Capital Markets industry average.
X
Value checks
We assess Economic Investment Trust'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. Economic Investment Trust has a total score of 4/6, 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.

Future Performance

 How is Economic Investment Trust 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 Economic Investment Trust 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
5.8%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Economic Investment Trust expected to grow at an attractive rate?
  • Unable to compare Economic Investment Trust's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Economic Investment Trust's earnings growth to the Canada market average as no estimate data is available.
  • Unable to compare Economic Investment Trust's revenue growth to the Canada market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
TSX:EVT Future Growth Rates Data Sources
Data Point Source Value (per year)
North America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 5.8%
North America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 2.6%
Canada Market Earnings Growth Rate Market Cap Weighted Average 7.6%
Canada Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*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:EVT Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 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:EVT Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-12-31 134 31 114
2019-09-30 11 27 7
2019-06-30 0 30 -3
2019-03-31 32 21 25
2018-12-31 -42 23 -40
2018-09-30 55 5 45
2018-06-30 32 -3 25
2018-03-31 39 4 30
2017-12-31 109 7 91
2017-09-30 104 -1 88
2017-06-30 143 19 122
2017-03-31 145 12 123

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Economic Investment Trust is high growth as no earnings estimate data is available.
  • Unable to determine if Economic Investment Trust 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:EVT Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Economic Investment Trust Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:EVT Past Financials Data
Date (Data in CAD Millions) EPS *
2019-12-31 20.21
2019-09-30 1.21
2019-06-30 -0.62
2019-03-31 4.41
2018-12-31 -7.06
2018-09-30 7.95
2018-06-30 4.37
2018-03-31 5.41
2017-12-31 16.27
2017-09-30 15.65
2017-06-30 21.71
2017-03-31 21.96

*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 Economic Investment Trust will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Economic Investment Trust'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.
Economic Investment Trust 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.

Past Performance

  How has Economic Investment Trust 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 Economic Investment Trust'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.
  • Economic Investment Trust's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Economic Investment Trust has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Economic Investment Trust has become profitable in the last year making it difficult to compare the CA Capital Markets industry average.
Earnings and Revenue History
Economic Investment Trust'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 Economic Investment Trust Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:EVT Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 134.35 113.51 3.87
2019-09-30 11.41 6.82 3.83
2019-06-30 -0.36 -3.47 3.78
2019-03-31 32.26 24.78 3.76
2018-12-31 -42.00 -39.67 3.81
2018-09-30 55.03 44.65 3.71
2018-06-30 31.75 24.56 3.66
2018-03-31 38.54 30.40 3.68
2017-12-31 108.70 91.34 3.58
2017-09-30 104.25 87.88 3.55
2017-06-30 143.46 121.93 3.45
2017-03-31 144.99 123.34 3.36
2016-12-31 48.82 39.84 3.31
2016-09-30 57.70 46.95 3.24
2016-06-30 43.81 34.92 3.18
2016-03-31 18.95 13.32 3.16
2015-12-31 78.23 64.85 3.05
2015-09-30 64.82 53.42 2.91
2015-06-30 49.26 39.94 2.84
2015-03-31 51.75 42.22 2.67
2014-12-31 36.82 30.26 2.54
2014-09-30 123.97 109.90 2.44
2014-06-30 149.21 131.91 2.31
2014-03-31 211.25 185.85 2.21
2013-12-31 262.69 229.78 2.08
2013-09-30 155.77 150.48 1.98
2013-06-30 133.78 135.39 2.18
2013-03-31 73.70 71.14 2.12

*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.
  • Economic Investment Trust has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Economic Investment Trust used its assets more efficiently than the CA Capital Markets industry average last year based on Return on Assets.
  • Economic Investment Trust has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Economic Investment Trust'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.
Economic Investment Trust has a total score of 2/6, 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.

Health

 How is Economic Investment Trust'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 Economic Investment Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Economic Investment Trust is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Economic Investment Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Economic Investment Trust'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.
  • Economic Investment Trust has no debt, it does not need to be covered by short term assets.
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 Economic Investment Trust Company Filings, last reported 2 months ago.

TSX:EVT Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 903.62 0.00 36.11
2019-09-30 857.07 0.00 16.00
2019-06-30 838.28 0.00 20.27
2019-03-31 855.70 0.00 11.07
2018-12-31 802.57 0.00 17.36
2018-09-30 862.71 0.00 1.75
2018-06-30 854.22 0.00 3.09
2018-03-31 843.39 0.00 2.32
2017-12-31 853.47 0.00 5.77
2017-09-30 829.29 0.00 8.34
2017-06-30 840.89 0.00 17.73
2017-03-31 824.22 0.00 9.49
2016-12-31 776.40 0.00 12.94
2016-09-30 754.83 0.00 23.20
2016-06-30 731.54 0.00 11.21
2016-03-31 712.62 0.00 8.77
2015-12-31 744.71 0.00 23.14
2015-09-30 716.03 0.00 12.99
2015-06-30 704.76 0.00 21.58
2015-03-31 707.43 0.00 13.72
2014-12-31 687.49 0.00 8.79
2014-09-30 670.25 0.00 12.18
2014-06-30 672.46 0.00 8.04
2014-03-31 672.85 0.00 8.66
2013-12-31 700.20 0.00 49.69
2013-09-30 594.99 0.00 1.29
2013-06-30 579.34 0.00 3.30
2013-03-31 528.23 0.00 1.33
  • Economic Investment Trust has no debt.
  • Economic Investment Trust has not taken on any debt in the past 5 years.
  • Economic Investment Trust has no debt, it does not need to be covered by operating cash flow.
  • Economic Investment Trust has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Economic Investment Trust'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. Economic Investment Trust 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.

Dividends

 What is Economic Investment Trust'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
3.29%
Current annual income from Economic Investment Trust dividends.
If you bought CA$2,000 of Economic Investment Trust shares you are expected to receive CA$66 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?
  • Economic Investment Trust's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.73%).
  • Economic Investment Trust's dividend is below the markets top 25% of dividend payers in Canada (8.76%).
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:EVT 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 9 Stocks 6.2%
Canada Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 4.9%
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 8.8%

Industry and Market average data is calculated daily.

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

TSX:EVT Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2020-02-13 2.720 2.818
2019-11-06 2.220 2.093
2019-08-06 2.220 2.165
2019-04-26 2.220 2.078
2019-02-15 2.220 2.057
2018-11-06 2.000 1.898
2018-04-27 2.000 1.772
2018-02-13 2.000 1.751
2017-11-02 2.540 2.205
2017-08-01 2.540 2.211
2017-04-28 2.540 2.238
2017-02-10 2.540 2.367
2016-11-03 1.450 1.386
2016-08-02 1.450 1.487
2016-05-03 1.450 1.496
2016-02-12 1.450 1.438
2015-11-03 1.360 1.373
2015-08-05 1.360 1.345
2015-05-05 1.360 1.336
2015-02-18 1.360 1.451
2014-11-04 7.650 8.458
2014-08-05 7.650 8.514
2014-05-06 7.650 8.471
2014-02-12 7.650 8.286
2013-11-05 0.600 0.648
2013-08-06 1.130 1.413
2013-05-06 1.130 1.514
2013-02-13 1.130 1.727
2012-11-09 0.600 1.016
2012-08-07 0.600 1.094
2012-05-09 0.600 1.082
2012-02-10 0.600 1.071
2011-11-02 0.600 1.108
2011-08-03 0.600 1.050
2011-05-03 0.600 0.967
2011-02-09 0.600 0.937
2010-11-01 0.600 0.936
2010-08-06 0.600 0.979
2010-05-05 0.600 0.977
2010-02-11 0.600 0.954
2009-11-02 0.600 0.969
2009-08-05 0.600 1.027
2009-04-30 0.600 1.063

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 Economic Investment Trust's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (16.8x 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 Economic Investment Trust'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 Economic Investment Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Economic Investment Trust 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.

Management

 What is the CEO of Economic Investment Trust'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
Duncan Newton Jackman
COMPENSATION CA$21,990
AGE 52
CEO Bio

Mr. Duncan Newton Rowell Jackman has been the Chairman of The Empire Life Insurance Company since February 2003 and has been its Director since April 2, 1997. Mr. Jackman has been the Chairman of the Board and President of E-L Financial Corporation Limited (E-L) since February 2003 and has been its Chief Executive Officer since September 2004. He has been the Chief Executive Officer of Economic Investment Trust Ltd. since 2001 and has been its President since February 2006. He serves as the Chairman and President of United Corporations Limited since February 2001 and also serves as its Chief Executive Officer. He serves as the Managing Director of The Fulcrum Investment Company Limited. He held a variety of positions, including Portfolio Manager at Cassels Blaikie and Investment Analyst at RBC Dominion Securities. He has been the Chairman of Economic Investment Trust Ltd., since February 27, 2001. He has been the Chairman of Algoma Central Corp. since 2007 and has been its Independent Director since 1997. He has been Chairman of the Board at E-l Financial Corp. Ltd. since 2003. He served as the Chairman of The Dominion of Canada General Insurance Company. He has been a Director of Economic Investment Trust since February 1995. He has been an Independent Director of First National Financial Corporation since June 8, 2006. He has been an Independent Director of Dream Unlimited Corp. since May 9, 2017, United Corporations Limited since June 1998 and E-l Financial Corp. Ltd., since April 25, 1997. He was an Independent Trustee of Dream Global Real Estate Investment Trust (Dream Global REIT (formerly Dundee International REIT)) since August 3, 2011 until May 16, 2019. He was a Director of Labrador Iron Ore Royalty Corporation since 2010 until 2019. He served as an Independent Trustee of Dream Office Real Estate Investment Trust since June 30, 2003 until May 9, 2017. He served as a Director of First National Financial Income Fund. Mr. Jackman holds a Bachelor of Arts in Literature from McGill University.

CEO Compensation
  • Insufficient data for Duncan Newton to compare compensation growth.
  • Duncan Newton's remuneration is lower than average for companies of similar size in Canada.
Management Team

Duncan Newton Jackman

TITLE
Chairman
COMPENSATION
CA$22K
AGE
52

Richard Carty

TITLE
Corporate Secretary
AGE
51
Board of Directors Tenure

Average tenure of the Economic Investment Trust board of directors in years:

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

Biff Matthews

TITLE
Director
COMPENSATION
CA$24K
TENURE
18.8 yrs

Duncan Newton Jackman

TITLE
Chairman
COMPENSATION
CA$22K
AGE
52
TENURE
19 yrs

Mark Taylor

TITLE
Director
COMPENSATION
CA$14K
AGE
62
TENURE
19.9 yrs

J. Michael Rolland

TITLE
Director
COMPENSATION
CA$18K
TENURE
12.9 yrs

Jack Darville

TITLE
Director
COMPENSATION
CA$17K
TENURE
8.9 yrs

Henry N. Jackman

TITLE
Honorary Director
COMPENSATION
CA$11K

William Corcoran

TITLE
Honorary Director
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Economic Investment Trust individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
13. Mar 20 Buy Duncan Newton Jackman Individual 12. Mar 20 12. Mar 20 1,000 CA$91.00 CA$91,000
22. Jan 20 Buy Maria Jackman Individual 21. Jan 20 21. Jan 20 500 CA$111.75 CA$55,875
21. Jan 20 Buy Maria Jackman Individual 20. Jan 20 20. Jan 20 100 CA$109.00 CA$10,900
23. Dec 19 Buy Maria Jackman Individual 20. Dec 19 20. Dec 19 500 CA$106.65 CA$53,325
19. Dec 19 Buy Duncan Newton Jackman Individual 18. Dec 19 18. Dec 19 1,000 CA$106.00 CA$105,999
22. Nov 19 Buy Duncan Newton Jackman Individual 21. Nov 19 21. Nov 19 600 CA$102.75 CA$61,650
20. Nov 19 Buy Duncan Newton Jackman Individual 19. Nov 19 19. Nov 19 200 CA$102.75 CA$20,550
19. Nov 19 Buy Duncan Newton Jackman Individual 18. Nov 19 18. Nov 19 200 CA$102.75 CA$20,550
09. Oct 19 Buy Duncan Newton Jackman Individual 08. Oct 19 08. Oct 19 1,000 CA$101.50 CA$101,500
06. Sep 19 Buy Maria Jackman Individual 05. Sep 19 05. Sep 19 400 CA$102.00 CA$40,800
18. Jul 19 Buy Maria Jackman Individual 16. Jul 19 16. Jul 19 700 CA$106.49 CA$74,542
16. Jul 19 Buy Maria Jackman Individual 10. Jul 19 12. Jul 19 300 CA$106.25 CA$31,759
28. Jun 19 Buy Duncan Newton Jackman Individual 27. Jun 19 27. Jun 19 1,000 CA$106.00 CA$106,000
24. May 19 Buy Duncan Newton Jackman Individual 23. May 19 23. May 19 1,000 CA$105.00 CA$105,000
23. May 19 Buy Maria Jackman Individual 23. May 19 23. May 19 905 CA$110.00 CA$99,550
15. May 19 Buy Duncan Newton Jackman Individual 14. May 19 14. May 19 1,000 CA$109.99 CA$109,989
X
Management checks
We assess Economic Investment Trust'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. Economic Investment Trust 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.

News

Simply Wall St News

Best TSX Companies To Invest In

Economic Investment Trust Limited (TSX:EVT) Economic Investment Trust Limited is a closed-ended equity mutual fund launched and managed by Burgundy Asset Management Ltd. … In addition to this, BAD has sufficient cash and investments to meet its upcoming liabilities, and its debt is adequately covered by its operating cash, which indicates its strong financial position. … Additionally, FSV has ample cash coverage over its short term liabilities, and its debt is adequately covered by its operating cash, portraying its strong financial capacity.

Simply Wall St -

Company Info

Description

Economic Investment Trust Limited is a closed-ended equity mutual fund launched and managed by Burgundy Asset Management Ltd. The fund invests in public equity markets across the globe. It seeks to invest in stocks of companies operating across diversified sectors. The fund benchmarks the performance of its portfolio against the S&P/TSX Composite Index, MSCI World Index, and S&P 500 Index. Economic Investment Trust Limited was formed in January 28, 1927 and is domiciled in Canada.

Details
Name: Economic Investment Trust Limited
EVT
Exchange: TSX
Founded: 1927
CA$464,460,899
5,615,535
Website: http://www.evt.ca
Address: Economic Investment Trust Limited
Bay Wellington Tower,
Brookfield Place,
Toronto,
Ontario, M5J 2T3,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX EVT Common Shares The Toronto Stock Exchange CA CAD 07. Jan 1976
OTCPK ECVT.F Common Shares Pink Sheets LLC US USD 07. Jan 1976
Number of employees
Current staff
Staff numbers
0
Economic Investment Trust employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/30 01:54
End of day share price update: 2020/03/26 00:00
Last earnings filing: 2020/02/14
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.