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iShares Canadian Financial Monthly Income ETF

TSX:FIE
Snowflake Description

Undervalued with excellent balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FIE
TSX
CA$499M
Market Cap
  1. Home
  2. CA
  3. Diversified Financials
Company description

iShares Canadian Financial Monthly Income ETF is an exchange traded fund launched and managed by BlackRock Asset Management Canada Limited. The last earnings update was 6 days ago. More info.


Add to Portfolio Compare Print
  • iShares Canadian Financial Monthly Income ETF is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • iShares Canadian Financial Monthly Income ETF has significant price volatility in the past 3 months.
FIE Share Price and Events
7 Day Returns
7.9%
TSX:FIE
2.8%
CA Capital Markets
7.1%
CA Market
1 Year Returns
-26.9%
TSX:FIE
-18.5%
CA Capital Markets
-25.3%
CA Market
FIE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
iShares Canadian Financial Monthly Income ETF (FIE) 7.9% -25.6% -30.1% -26.9% -32.4% -28%
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
  • FIE underperformed the Capital Markets industry which returned -18.5% over the past year.
  • FIE underperformed the Market in Canada which returned -25.3% over the past year.
Price Volatility
FIE
Industry
5yr Volatility vs Market

Value

 Is iShares Canadian Financial Monthly Income 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 iShares Canadian Financial Monthly Income 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 iShares Canadian Financial Monthly Income ETF.

TSX:FIE 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$7.08 * 10.1%
CA$0.71
Book Value of Equity per Share Median Book Value from the past 5 years. CA$7.08
Discount Rate (Cost of Equity) See below 6.2%
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:FIE
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%) (9.96%))
0.872
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.87
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.44% + (0.872 * 5.44%)
6.19%

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

The calculations below outline how an intrinsic value for iShares Canadian Financial Monthly Income 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:FIE Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (10.1% – 6.19%) * CA$7.08)
CA$0.28
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CA$0.28 / (6.19% - 1.44%)
CA$5.83
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CA$7.08 + CA$5.83
CA$12.91
TSX:FIE Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$12.91
Current discount Discount to share price of CA$5.05
= -1 x (CA$5.05 - CA$12.91) / CA$12.91
60.9%

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

Current Discount
Amount off the current price iShares Canadian Financial Monthly Income ETF is available for.
Intrinsic value
>50%
Share price is CA$5.05 vs Future cash flow value of CA$12.91
Current Discount Checks
For iShares Canadian Financial Monthly Income ETF to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • iShares Canadian Financial Monthly Income ETF's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • iShares Canadian Financial Monthly Income ETF'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 iShares Canadian Financial Monthly Income ETF's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are iShares Canadian Financial Monthly Income ETF's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:FIE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CAD CA$1.22
TSX:FIE Share Price ** TSX (2020-03-27) in CAD CA$5.05
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 iShares Canadian Financial Monthly Income ETF.

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

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

= 5.05 ÷ 1.22

4.15x

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

  • iShares Canadian Financial Monthly Income ETF is good value based on earnings compared to the CA Capital Markets industry average.
  • iShares Canadian Financial Monthly Income ETF is good value based on earnings compared to the Canada market.
Price based on expected Growth
Does iShares Canadian Financial Monthly Income ETF's expected growth come at a high price?
Raw Data
TSX:FIE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 4.15x
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 iShares Canadian Financial Monthly Income ETF, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on iShares Canadian Financial Monthly Income ETF's assets?
Raw Data
TSX:FIE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CAD CA$7.08
TSX:FIE Share Price * TSX (2020-03-27) in CAD CA$5.05
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:FIE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 5.05 ÷ 7.08

0.71x

* Primary Listing of iShares Canadian Financial Monthly Income ETF.

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

  • iShares Canadian Financial Monthly Income ETF is good value based on assets compared to the CA Capital Markets industry average.
X
Value checks
We assess iShares Canadian Financial Monthly Income 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. iShares Canadian Financial Monthly Income ETF 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.

Future Performance

 How is iShares Canadian Financial Monthly Income 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 iShares Canadian Financial Monthly Income 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 iShares Canadian Financial Monthly Income ETF expected to grow at an attractive rate?
  • Unable to compare iShares Canadian Financial Monthly Income ETF's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare iShares Canadian Financial Monthly Income ETF's earnings growth to the Canada market average as no estimate data is available.
  • Unable to compare iShares Canadian Financial Monthly Income ETF's revenue growth to the Canada market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
TSX:FIE 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:FIE 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:FIE Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-12-31 119 48 114
2019-09-30 63 49 58
2019-06-30 7 51 2
2019-03-31 -24 49 -29
2018-12-31 -55 48 -60
2018-09-30 -1 45 -6
2018-06-30 52 43 47
2018-03-31 59 41 54
2017-12-31 65 39 60
2017-09-30 75 38 70
2017-06-30 84 37 79
2017-03-31 87 36 83

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if iShares Canadian Financial Monthly Income ETF is high growth as no earnings estimate data is available.
  • Unable to determine if iShares Canadian Financial Monthly Income 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:FIE 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 iShares Canadian Financial Monthly Income ETF Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:FIE Past Financials Data
Date (Data in CAD Millions) EPS *
2019-12-31 1.22
2019-09-30 0.61
2019-06-30 0.02
2019-03-31 -0.31
2018-12-31 -0.66
2018-09-30 -0.07
2018-06-30 0.60
2018-03-31 0.71
2017-12-31 0.83
2017-09-30 0.99
2017-06-30 1.15
2017-03-31 1.22

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

TSX:FIE Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 119.05 113.66 3.82
2019-09-30 62.93 57.62 3.74
2019-06-30 6.81 1.58 3.65
2019-03-31 -23.91 -29.12 3.67
2018-12-31 -54.63 -59.81 3.69
2018-09-30 -1.08 -6.26 3.80
2018-06-30 52.48 47.28 3.91
2018-03-31 58.85 53.77 3.89
2017-12-31 65.23 60.25 3.87
2017-09-30 74.62 69.85 3.71
2017-06-30 84.01 79.45 3.54
2017-03-31 87.18 82.76 3.41
2016-12-31 90.34 86.07 3.28
2016-09-30 50.17 45.91 3.33
2016-06-30 10.01 5.76 3.38
2016-03-31 -4.82 -9.09 3.54
2015-12-31 -19.65 -23.94 3.69
2015-09-30 -8.93 -13.18 3.71
2015-06-30 1.79 -2.42 3.74
2015-03-31 20.30 16.19 3.62
2014-12-31 38.80 34.80 3.51
2014-09-30 52.66 48.77 3.37
2014-06-30 66.53 62.75 3.24
2014-03-31 56.32 52.76 3.06
2013-12-31 46.12 42.77 2.87
2013-09-30 11.56 33.49 2.76
2013-06-30 10.82 24.00 2.55
2013-03-31 9.96 25.54 2.42

*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.
  • iShares Canadian Financial Monthly Income ETF has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • iShares Canadian Financial Monthly Income ETF used its assets more efficiently than the CA Capital Markets industry average last year based on Return on Assets.
  • iShares Canadian Financial Monthly Income ETF's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess iShares Canadian Financial Monthly Income 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.
iShares Canadian Financial Monthly Income ETF 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 iShares Canadian Financial Monthly Income 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 iShares Canadian Financial Monthly Income ETF's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • iShares Canadian Financial Monthly Income ETF is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • iShares Canadian Financial Monthly Income ETF has no long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of iShares Canadian Financial Monthly Income 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.
  • Debt is covered by short term assets, assets are 14.6x 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 iShares Canadian Financial Monthly Income ETF Company Filings, last reported 2 months ago.

TSX:FIE Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 671.23 49.71 720.98
2019-09-30 671.23 49.71 720.98
2019-06-30 653.32 49.72 701.30
2019-03-31 653.32 49.72 701.30
2018-12-31 579.02 49.69 627.68
2018-09-30 579.02 49.69 627.68
2018-06-30
2018-03-31 563.14 49.77 611.65
2017-12-31 563.14 49.77 611.65
2017-09-30 563.14 49.77 611.65
2017-06-30 515.86 49.88 564.49
2017-03-31 515.86 49.88 564.49
2016-12-31 483.99 49.88 533.47
2016-09-30 483.99 49.88 533.47
2016-06-30 430.74 49.88 479.54
2016-03-31 430.74 49.88 479.54
2015-12-31 406.99 49.82 456.71
2015-09-30 406.99 49.82 456.71
2015-06-30 436.80 14.99 450.91
2015-03-31 436.80 14.99 450.91
2014-12-31 432.94 14.99 447.97
2014-09-30 432.94 14.99 447.97
2014-06-30 393.33 14.96 407.95
2014-03-31 393.33 14.96 407.95
2013-12-31 340.70 14.96 355.90
2013-09-30 340.55 14.96 0.54
2013-06-30 278.97 14.95 0.43
2013-03-31 278.97 14.95 0.43
  • iShares Canadian Financial Monthly Income ETF's level of debt (7.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (3.5% vs 7.4% today).
  • Debt is well covered by operating cash flow (97.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 80.2x coverage).
X
Financial health checks
We assess iShares Canadian Financial Monthly Income 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. iShares Canadian Financial Monthly Income ETF 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 iShares Canadian Financial Monthly Income 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
9.5%
Current annual income from iShares Canadian Financial Monthly Income ETF dividends.
If you bought CA$2,000 of iShares Canadian Financial Monthly Income ETF shares you are expected to receive CA$190 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?
  • iShares Canadian Financial Monthly Income ETF's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.75%).
  • iShares Canadian Financial Monthly Income ETF's dividend is above 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:FIE 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:FIE Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2019-08-23 0.480 6.985
2019-03-19 0.480 6.917
2019-02-15 0.480 6.841
2019-01-18 0.480 6.978
2018-12-20 0.480 7.297
2018-11-21 0.480 7.132
2018-10-19 0.480 6.864
2018-09-13 0.480 6.546
2018-08-21 0.480 6.409
2018-07-19 0.480 6.423
2018-06-19 0.480 6.468
2018-05-18 0.480 6.455
2018-04-18 0.480 6.507
2018-03-19 0.480 6.547
2017-08-15 0.480 6.413
2017-06-14 0.480 6.668
2017-05-12 0.480 6.814
2017-04-11 0.480 6.591
2017-03-15 0.480 6.422
2017-02-09 0.480 6.337
2017-01-13 0.480 6.462
2016-12-28 0.480 6.521
2016-11-14 0.480 6.732
2016-10-13 0.480 7.115
2016-09-07 0.480 7.210
2016-08-15 0.480 7.168
2016-07-13 0.480 7.220
2016-06-08 0.480 7.341
2016-05-13 0.480 7.203
2016-04-13 0.480 7.267
2016-03-09 0.480 7.439
2016-02-10 0.480 7.915
2016-01-13 0.480 8.005
2015-12-29 0.480 7.652
2015-11-12 0.480 7.311
2015-10-14 0.480 7.188
2015-09-10 0.480 7.417
2015-07-15 0.480 7.221
2015-06-10 0.480 6.940
2015-05-13 0.480 6.797
2015-04-14 0.480 6.719
2015-03-11 0.480 6.826
2015-02-10 0.480 6.749
2015-01-15 0.480 6.829
2014-12-18 0.480 6.666
2014-11-12 0.480 6.501
2014-10-15 0.480 6.534
2014-09-10 0.480 6.446
2014-08-13 0.480 6.328
2014-07-15 0.480 6.383
2014-06-11 0.480 6.525
2014-05-13 0.480 6.604
2014-03-12 0.480 6.683
2014-02-11 0.480 6.770
2014-01-15 0.480 6.858
2013-12-18 0.480 6.776
2013-11-13 0.480 6.762
2013-10-15 0.480 6.852
2013-09-09 0.480 7.108
2013-08-14 0.480 7.207
2013-07-15 0.480 7.188
2013-06-10 0.480 7.381
2013-05-14 0.480 7.224
2013-03-12 0.480 7.233
2013-02-11 0.480 7.072
2013-01-15 0.480 7.112
2012-12-17 0.480 7.250
2012-11-20 0.480 7.364
2012-10-19 0.480 7.476
2012-09-18 0.480 7.492
2012-08-21 0.480 7.524
2012-07-19 0.480 7.658
2012-06-19 0.480 7.666
2012-05-18 0.480 7.770
2012-04-18 0.480 7.443
2012-03-20 0.480 7.268
2012-02-16 0.480 7.377
2012-01-19 0.480 7.476
2011-12-20 0.480 7.666
2011-11-18 0.480 7.932
2011-10-19 0.480 7.641
2011-09-20 0.480 7.600
2011-08-19 0.480 7.448
2011-07-19 0.480 7.230
2011-06-20 0.480 6.919
2011-05-18 0.480 6.805
2011-04-18 0.480 6.699
2011-03-21 0.480 6.644
2011-02-15 0.480 6.675
2011-01-19 0.480 6.809
2010-12-20 0.480 6.935
2010-11-18 0.480 6.967
2010-10-19 0.480 6.966
2010-09-21 0.480 7.054
2010-08-19 0.480 7.211
2010-07-20 0.480 7.215
2010-06-21 0.480 7.216
2010-05-18 0.480 7.074

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.
  • No dividend growth in 10 years.
Current Payout to shareholders
What portion of iShares Canadian Financial Monthly Income ETF's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (5.1x 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 iShares Canadian Financial Monthly Income 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 iShares Canadian Financial Monthly Income ETF afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. iShares Canadian Financial Monthly Income 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 iShares Canadian Financial Monthly Income 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.
  • iShares Canadian Financial Monthly Income ETF has no CEO, or we have no data on them.
Management Team

Duncan Anderson

TITLE
Associate Portfolio Manager and Senior Analyst

Pat McHugh

TITLE
Vice-President and Senior Portfolio Manager

Alan Wicks

TITLE
Vice President and Senior Portfolio Manager

Greg Savage

TITLE
Portfolio Manager

Rich Mejzak

TITLE
Portfolio Manager
AGE
50

James Keenan

TITLE
Portfolio Manager
AGE
43
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 iShares Canadian Financial Monthly Income 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. iShares Canadian Financial Monthly Income 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

iShares Canadian Financial Monthly Income ETF is an exchange traded fund launched and managed by BlackRock Asset Management Canada Limited. It is co-managed by BlackRock Institutional Trust Company, N.A. The fund invests in the public equity and fixed income markets of Canada. For its equity portion, it seeks to invest in stocks of companies operating in the financial sector. The fund invests in stocks of large-cap companies. For its fixed income portion, it invests in corporate bonds and preferred shares. The fund employs a combination of fundamental and quantitative analysis with a bottom-up securities picking approach to create its portfolio. It was formerly known as iShares Canadian Financial Monthly Income Fund. iShares Canadian Financial Monthly Income ETF was formed on July 27, 2005 and is domiciled in Canada.

Details
Name: iShares Canadian Financial Monthly Income ETF
FIE
Exchange: TSX
Founded: 2005
CA$498,940,000
98,800,000
Website: http://
Address: iShares Canadian Financial Monthly Income ETF
161 Bay Street,
Suite 2500,
Toronto,
Ontario, M5J 2S1,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX FIE Common Units The Toronto Stock Exchange CA CAD 16. Apr 2010
Number of employees
Current staff
Staff numbers
0
iShares Canadian Financial Monthly Income 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 02:45
End of day share price update: 2020/03/27 00:00
Last earnings filing: 2020/03/23
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.