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CI First Asset Active Utility & Infrastructure ETF

TSX:FAI
Snowflake Description

Flawless balance sheet with proven track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FAI
TSX
CA$27M
Market Cap
  1. Home
  2. CA
  3. Diversified Financials
Company description

CI First Asset Active Utility & Infrastructure ETF is an exchange traded fund launched and managed by First Asset Investment Management Inc. The last earnings update was 4 days ago. More info.


Add to Portfolio Compare Print
  • CI First Asset Active Utility & Infrastructure ETF is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
FAI Share Price and Events
7 Day Returns
7.3%
TSX:FAI
2.8%
CA Capital Markets
7.1%
CA Market
1 Year Returns
-8.4%
TSX:FAI
-18.5%
CA Capital Markets
-25.3%
CA Market
FAI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
CI First Asset Active Utility & Infrastructure ETF (FAI) 7.3% -18.8% -18.3% -8.4% -6.1% -1.7%
CA Capital Markets 2.8% -24.6% -26.7% -18.5% -19.3% -20.5%
CA Market 7.1% -24.1% -26.7% -25.3% -23.4% -17.5%
1 Year Return vs Industry and Market
  • FAI outperformed the Capital Markets industry which returned -18.5% over the past year.
  • FAI outperformed the Market in Canada which returned -25.3% over the past year.
Price Volatility
FAI
Industry
5yr Volatility vs Market

Value

 Is CI First Asset Active Utility & Infrastructure ETF 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 CI First Asset Active Utility & Infrastructure ETF 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 CI First Asset Active Utility & Infrastructure ETF.

TSX:FAI 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$10.60 * 8.8%
CA$0.93
Book Value of Equity per Share Median Book Value from the past 5 years. CA$10.60
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:FAI
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))
= 0.754 (1 + (1- 26.5%) (0%))
1.135
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.13
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.44% + (1.135 * 5.44%)
7.61%

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

The calculations below outline how an intrinsic value for CI First Asset Active Utility & Infrastructure ETF 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:FAI Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (8.8% – 7.61%) * CA$10.60)
CA$0.12
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CA$0.12 / (7.61% - 1.44%)
CA$1.96
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CA$10.60 + CA$1.96
CA$12.56
TSX:FAI Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$12.56
Current discount Discount to share price of CA$10.00
= -1 x (CA$10.00 - CA$12.56) / CA$12.56
20.4%

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

Current Discount
Amount off the current price CI First Asset Active Utility & Infrastructure ETF is available for.
Intrinsic value
20%
Share price is CA$10 vs Future cash flow value of CA$12.56
Current Discount Checks
For CI First Asset Active Utility & Infrastructure ETF to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • CI First Asset Active Utility & Infrastructure ETF's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • CI First Asset Active Utility & Infrastructure ETF'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 CI First Asset Active Utility & Infrastructure ETF's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are CI First Asset Active Utility & Infrastructure ETF's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:FAI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CAD CA$1.29
TSX:FAI Share Price ** TSX (2020-03-27) in CAD CA$10
Canada Capital Markets Industry PE Ratio Median Figure of 15 Publicly-Listed Capital Markets Companies 7.45x
Canada Market PE Ratio Median Figure of 497 Publicly-Listed Companies 10.58x

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

** Primary Listing of CI First Asset Active Utility & Infrastructure ETF.

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

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

= 10 ÷ 1.29

7.73x

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

  • CI First Asset Active Utility & Infrastructure ETF is overvalued based on earnings compared to the CA Capital Markets industry average.
  • CI First Asset Active Utility & Infrastructure ETF is good value based on earnings compared to the Canada market.
Price based on expected Growth
Does CI First Asset Active Utility & Infrastructure ETF's expected growth come at a high price?
Raw Data
TSX:FAI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.73x
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 1.84x
Canada Market PEG Ratio Median Figure of 234 Publicly-Listed Companies 0.69x

*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 CI First Asset Active Utility & Infrastructure ETF, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on CI First Asset Active Utility & Infrastructure ETF's assets?
Raw Data
TSX:FAI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CAD CA$11.18
TSX:FAI Share Price * TSX (2020-03-27) in CAD CA$10
Canada Capital Markets Industry PB Ratio Median Figure of 157 Publicly-Listed Capital Markets Companies 0.82x
Canada Market PB Ratio Median Figure of 2,351 Publicly-Listed Companies 1x
TSX:FAI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 10 ÷ 11.18

0.89x

* Primary Listing of CI First Asset Active Utility & Infrastructure ETF.

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

  • CI First Asset Active Utility & Infrastructure ETF is overvalued based on assets compared to the CA Capital Markets industry average.
X
Value checks
We assess CI First Asset Active Utility & Infrastructure ETF'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. CI First Asset Active Utility & Infrastructure ETF has a total score of 2/6, 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 CI First Asset Active Utility & Infrastructure ETF 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 CI First Asset Active Utility & Infrastructure ETF 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 CI First Asset Active Utility & Infrastructure ETF expected to grow at an attractive rate?
  • Unable to compare CI First Asset Active Utility & Infrastructure ETF's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare CI First Asset Active Utility & Infrastructure ETF's earnings growth to the Canada market average as no estimate data is available.
  • Unable to compare CI First Asset Active Utility & Infrastructure ETF's revenue growth to the Canada market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
TSX:FAI 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 2.7%
Canada Market Earnings Growth Rate Market Cap Weighted Average 7.8%
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:FAI 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:FAI Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-12-31 7 -2 6
2019-09-30 5 0 5
2019-06-30 3 3 3
2019-03-31 1 4 1
2018-12-31 -1 4 -1
2018-09-30 0 3 0
2018-06-30 0 1 0
2018-03-31 1 0 1
2017-12-31 2 -1 2
2017-09-30 2 -3 2
2017-06-30 2 -4 2
2017-03-31 3 -2 2

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if CI First Asset Active Utility & Infrastructure ETF is high growth as no earnings estimate data is available.
  • Unable to determine if CI First Asset Active Utility & Infrastructure ETF 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:FAI 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 CI First Asset Active Utility & Infrastructure ETF Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:FAI Past Financials Data
Date (Data in CAD Millions) EPS *
2019-12-31
2019-09-30
2019-06-30 1.29
2019-03-31 0.46
2018-12-31 -0.38
2018-09-30 -0.18
2018-06-30 0.00
2018-03-31 0.38
2017-12-31 0.77
2017-09-30 0.89
2017-06-30 1.04
2017-03-31 1.14

*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 CI First Asset Active Utility & Infrastructure ETF will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess CI First Asset Active Utility & Infrastructure ETF'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.
CI First Asset Active Utility & Infrastructure ETF 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 CI First Asset Active Utility & Infrastructure ETF 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 CI First Asset Active Utility & Infrastructure ETF'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.
  • CI First Asset Active Utility & Infrastructure ETF's year on year earnings growth rate has been positive over the past 5 years.
  • CI First Asset Active Utility & Infrastructure ETF has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • CI First Asset Active Utility & Infrastructure ETF has become profitable in the last year making it difficult to compare the CA Capital Markets industry average.
Earnings and Revenue History
CI First Asset Active Utility & Infrastructure ETF'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 CI First Asset Active Utility & Infrastructure ETF Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:FAI 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 6.60 6.30 0.23
2019-09-30 4.78 4.52 0.22
2019-06-30 2.94 2.75 0.20
2019-03-31 1.14 0.97 0.20
2018-12-31 -0.66 -0.80 0.20
2018-09-30 -0.20 -0.40 0.22
2018-06-30 0.26 0.01 0.24
2018-03-31 1.17 0.89 0.23
2017-12-31 2.07 1.78 0.22
2017-09-30 2.21 1.91 0.22
2017-06-30 2.35 2.05 0.21
2017-03-31 2.62 2.29 0.22
2016-12-31 2.88 2.54 0.23
2016-09-30 2.34 2.01 0.25
2016-06-30 1.81 1.49 0.26
2016-03-31 0.46 0.15 0.26
2015-12-31 -0.89 -1.19 0.26
2015-09-30 -0.12 -0.48 0.31
2015-06-30 0.66 0.22 0.36
2015-03-31 3.29 2.79 0.42
2014-12-31 5.93 5.35 0.48
2014-09-30 6.68 6.09 0.50
2014-06-30 7.42 6.82 0.53
2014-03-31 5.77 5.13 0.57
2013-12-31 4.12 3.44 0.62
2013-09-30 2.29 3.66 0.68
2013-06-30 2.48 3.97 0.74
2013-03-31 2.18 4.07 0.79

*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.
  • CI First Asset Active Utility & Infrastructure ETF has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • CI First Asset Active Utility & Infrastructure ETF used its assets more efficiently than the CA Capital Markets industry average last year based on Return on Assets.
  • CI First Asset Active Utility & Infrastructure ETF has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess CI First Asset Active Utility & Infrastructure ETF'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.
CI First Asset Active Utility & Infrastructure ETF 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.

Health

 How is CI First Asset Active Utility & Infrastructure ETF'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 CI First Asset Active Utility & Infrastructure ETF's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • CI First Asset Active Utility & Infrastructure ETF is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • CI First Asset Active Utility & Infrastructure ETF has no long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of CI First Asset Active Utility & Infrastructure ETF'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.
  • CI First Asset Active Utility & Infrastructure ETF 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 CI First Asset Active Utility & Infrastructure ETF Company Filings, last reported 2 months ago.

TSX:FAI Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 29.23 0.00 29.14
2019-09-30 29.23 0.00 29.14
2019-06-30 25.05 0.00 25.03
2019-03-31 25.05 0.00 25.03
2018-12-31 19.99 0.00 19.97
2018-09-30 19.99 0.00 19.97
2018-06-30 22.05 0.00 22.03
2018-03-31 22.05 0.00 22.03
2017-12-31 21.64 0.00 21.69
2017-09-30 21.64 0.00 21.69
2017-06-30 21.86 0.00 21.90
2017-03-31 21.86 0.00 21.90
2016-12-31 20.18 0.00 20.24
2016-09-30 20.18 0.00 20.24
2016-06-30 20.12 0.00 20.17
2016-03-31 20.12 0.00 20.17
2015-12-31 21.21 0.00 21.24
2015-09-30 21.21 0.00 21.24
2015-06-30 25.88 0.00 25.90
2015-03-31 25.88 0.00 25.90
2014-12-31 30.74 0.00 30.85
2014-09-30 30.74 0.00 30.85
2014-06-30 30.46 0.00 30.51
2014-03-31 30.46 0.00 30.51
2013-12-31 32.14 0.00 32.19
2013-09-30 31.99 0.00 2.73
2013-06-30 30.44 0.00 13.07
2013-03-31 30.44 0.00 13.07
  • CI First Asset Active Utility & Infrastructure ETF has no debt.
  • CI First Asset Active Utility & Infrastructure ETF has not taken on any debt in the past 5 years.
  • CI First Asset Active Utility & Infrastructure ETF has no debt, it does not need to be covered by operating cash flow.
  • CI First Asset Active Utility & Infrastructure ETF has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess CI First Asset Active Utility & Infrastructure ETF'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. CI First Asset Active Utility & Infrastructure ETF has a total score of 6/6, 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 CI First Asset Active Utility & Infrastructure ETF'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
4.59%
Current annual income from CI First Asset Active Utility & Infrastructure ETF dividends.
If you bought CA$2,000 of CI First Asset Active Utility & Infrastructure ETF shares you are expected to receive CA$92 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?
  • CI First Asset Active Utility & Infrastructure ETF's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.75%).
  • CI First Asset Active Utility & Infrastructure ETF's dividend is below the markets top 25% of dividend payers in Canada (8.79%).
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:FAI 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 6.1%
Canada Market Average Dividend Yield Market Cap Weighted Average of 325 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:FAI Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2020-03-16 0.459 4.849
2020-02-12 0.487 3.972
2020-01-16 0.452 3.518
2019-12-12 0.447 3.638
2019-11-14 0.441 3.629
2019-10-16 0.438 3.717
2019-09-13 0.435 3.732
2019-08-19 0.431 3.762
2019-07-16 0.428 3.788
2019-06-13 0.424 3.768
2019-05-17 0.420 3.791
2019-04-12 0.417 3.792
2019-03-14 0.414 3.784
2019-02-12 0.411 3.845
2019-01-16 0.411 3.962
2018-12-12 0.411 4.139
2018-11-15 0.411 4.057
2018-10-16 0.411 4.024
2018-09-13 0.410 3.922
2018-08-17 0.402 3.773
2018-07-16 0.410 3.928
2018-06-14 0.411 4.017
2018-05-15 0.413 4.112
2018-04-13 0.414 4.156
2018-03-14 0.416 4.229
2018-02-12 0.426 4.295
2018-01-16 0.426 4.190
2017-12-15 0.426 4.046
2017-11-20 0.415 3.907
2017-10-20 0.415 3.920
2017-09-19 0.415 3.916
2017-08-21 0.415 3.942
2017-07-19 0.415 3.923
2017-06-20 0.415 3.888
2017-05-18 0.415 3.833
2017-04-18 0.415 3.842
2017-03-21 0.415 3.892
2017-02-21 0.396 3.812
2017-01-19 0.396 3.893
2016-12-16 0.396 3.915
2016-11-18 0.406 4.090
2016-10-19 0.406 4.037
2016-09-20 0.406 3.953
2016-08-23 0.398 3.865
2016-07-22 0.398 3.877
2016-06-20 0.398 3.942
2016-05-18 0.394 3.980
2016-04-19 0.224 2.315
2016-03-18 0.224 2.341
2016-02-18 0.238 2.534
2016-01-19 0.286 3.130
2015-12-08 0.275 3.015
2015-11-25 0.305 3.299
2015-10-20 0.329 3.481
2015-09-21 0.282 3.015
2015-08-24 0.301 3.267
2015-07-22 0.323 3.417
2015-06-18 0.354 3.649
2015-05-22 0.374 3.805
2015-04-20 0.352 3.445
2015-03-19 0.394 3.851
2015-02-17 0.360 3.556
2015-01-20 0.312 3.069
2014-12-18 0.360 3.675
2014-11-19 0.360 3.687
2014-10-22 0.360 3.647
2014-09-22 0.360 3.650
2014-08-21 0.360 3.556
2014-07-22 0.360 3.661
2014-06-19 0.360 3.745
2014-05-21 0.360 3.813
2014-04-22 0.360 3.896
2014-03-20 0.360 3.968
2014-02-19 0.360 4.130
2014-01-22 0.360 4.209
2013-12-19 0.360 4.211
2013-11-20 0.360 4.390
2013-10-22 0.360 4.407
2013-09-19 0.360 4.526
2013-08-21 0.360 4.607
2013-07-22 0.360 4.546
2013-06-19 0.360 4.469
2013-05-22 0.360 4.307
2013-04-19 0.360 4.285
2013-03-19 0.360 4.321
2013-02-19 0.360 4.313
2013-01-22 0.360 4.303
2013-01-09 0.360 4.331
2012-11-21 0.360 4.454
2012-10-23 0.360 4.482
2012-09-19 0.360 4.508
2012-08-22 0.360 4.501
2012-07-23 0.360 4.566
2012-06-20 0.360 4.658
2012-05-22 0.360 4.615
2012-04-19 0.360 4.591
2012-03-21 0.360 4.618
2012-02-17 0.360 4.490
2012-01-20 0.360 4.420
2011-12-20 0.360 4.404
2011-11-21 0.360 4.515
2011-10-20 0.360 4.526
2011-09-21 0.360 4.594
2011-08-22 0.360 4.600
2011-07-20 0.360 4.653
2011-05-18 0.360 4.553
2011-04-19 0.360 4.651
2011-03-22 0.360 4.707
2011-02-16 0.360 4.696
2011-01-20 0.360 4.513
2010-12-20 0.360 4.556
2010-11-18 0.360 4.666
2010-10-20 0.360 4.718
2010-09-20 0.360 4.810
2010-08-19 0.360 4.954
2010-07-21 0.360 5.058
2010-06-18 0.360 5.192
2010-05-18 0.360 5.296
2010-04-21 0.360 5.183
2010-03-22 0.360 5.053
2010-02-17 0.360 5.230
2010-01-20 0.360 5.290
2010-01-06 0.360 5.155
2009-11-19 0.360 5.419
2009-10-21 0.360 5.666
2009-09-21 0.360 5.841
2009-08-20 0.360 6.080
2009-07-23 0.360 6.128
2009-06-19 0.360 6.330
2009-05-20 0.360 6.390
2009-04-21 0.360 6.550

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of CI First Asset Active Utility & Infrastructure ETF's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (27.9x 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 CI First Asset Active Utility & Infrastructure ETF'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 CI First Asset Active Utility & Infrastructure ETF afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. CI First Asset Active Utility & Infrastructure ETF has a total score of 4/6, 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 CI First Asset Active Utility & Infrastructure ETF'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.
  • CI First Asset Active Utility & Infrastructure ETF has no CEO, or we have no data on them.
Management Team Tenure

Average tenure of the CI First Asset Active Utility & Infrastructure ETF management team in years:

11.7
Average Tenure
  • The average tenure for the CI First Asset Active Utility & Infrastructure ETF management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Lee Goldman

TITLE
Portfolio Manager
TENURE
14.2 yrs

Craig Allardyce

TITLE
Portfolio Manager
TENURE
10.2 yrs

Manash Goswami

TITLE
Portfolio Manager
TENURE
13.2 yrs

Kate MacDonald

TITLE
Portfolio Manager
TENURE
7.2 yrs
Board of Directors
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$) Value (CA$)
X
Management checks
We assess CI First Asset Active Utility & Infrastructure ETF'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. CI First Asset Active Utility & Infrastructure ETF 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

Company Info

Description

CI First Asset Active Utility & Infrastructure ETF is an exchange traded fund launched and managed by First Asset Investment Management Inc. The fund invests in the public equity markets of Canada. It seeks to invest in stocks of companies operating in the utility and infrastructure sectors, which include companies that derive their revenue from the distribution, wholesale or retail, of oil, natural gas or other refined products typically pursuant to fixed rate transportation tolls or from power generation and sale including hydroelectric, gas-fired, coal-fired and wind, companies that service and support these industries, or are otherwise in the energy infrastructure industry. The fund invests in stocks of companies across all market capitalizations. It benchmarks the performance of its portfolio against the S&P/TSX Capped Utilities Index (Total Return). CI First Asset Active Utility & Infrastructure ETF was formed on January 27, 2005 and is domiciled in Canada.

Details
Name: CI First Asset Active Utility & Infrastructure ETF
FAI
Exchange: TSX
Founded: 2005
CA$26,911,940
2,691,194
Website: http://www.firstasset.com/solutions/overview/?fund=First+Asset+Active+Utility+%26amp%3B+Infrastructure+ETF
Address: CI First Asset Active Utility & Infrastructure ETF
2 Queen Street East,
Suite 1200,
Toronto,
Ontario, M5C 3G7,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX FAI Common Units The Toronto Stock Exchange CA CAD 17. Feb 2005
OTCPK FAPP.F Common Units Pink Sheets LLC US USD 17. Feb 2005
Number of employees
Current staff
Staff numbers
0
CI First Asset Active Utility & Infrastructure ETF employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/29 01:29
End of day share price update: 2020/03/27 00:00
Last earnings filing: 2020/03/25
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.