EIF Stock Analysis: Exchange Income | TO

Air Transport, Mission Systems, Building Facades, Industrial Equipment

Total Rating 43

Safety 76

Buy Signal 0.07

Airlines
Industry Rotation: -1.2

Market Cap: 4.65B
Avg Turnover: 15.8M

Risk 3d forecast

Volatility22.6%

VaR 5^th Pctl3.79%

VaR vs Median1.97%

Reward TTM

Sharpe Ratio1.58

Rel. Str. IBD77.4

Rel. Str. Peer Group97.5 pctl

Character TTM

Beta0.600

Beta Downside0.171

Hurst Exponent0.477

Choppyness69.8%

Drawdowns 3y

Max DD20.24%

CAGR/Max DD2.26

CAGR/Mean DD11.30

EPS (Earnings per Share)

EPS CAGR: 13.30%
EPS Trend: 87.7%

Last SUE: 0.69
Qual. Beats: 0

Revenue

Rev. CAGR: 15.78%
Rev. Trend: 94.9%

Last SUE: -2.14
Qual. Beats: -1

Warnings

Below Avwap Earnings

Tailwinds

Idiosyncratic Leader

Seasonality

Not enough history

Description: EIF Exchange Income

Exchange Income Corporation is a Winnipeg-based Canadian company with two businesses: Aerospace & Aviation and Manufacturing. Its aviation operations provide passenger, charter, freight and medical transport, alongside aircraft leasing, maintenance, modifications and mission-system support.

Its manufacturing businesses provide project and installation services for building exteriors and communications infrastructure, and produce precision components, climate-control equipment, washing systems and custom tanks. The company’s model spans both aviation services and specialized industrial manufacturing.

Headlines to Watch Out For

Medevac and government aviation contracts support recurring revenue growth
Aircraft operating costs and labor availability pressure aviation margins
Manufacturing demand and acquisition-led growth drive earnings and leverage

Piotroski VR-10 (Strict) 5.0

Net Income: 205.1m TTM > 0 and > 6% of Revenue
FCF/TA: -0.03 > 0.02 and ΔFCF/TA -1.38 > 1.0
NWC/Revenue: 15.87% < 20% (prev 29.09%; Δ -13.22% < -1%)
CFO/TA 0.13 > 3% & CFO 714.6m > Net Income 205.1m
Net Debt (2.78b) to EBITDA (841.8m): 3.31 < 3
Current Ratio: 1.63 > 1.5 & < 3
Outstanding Shares: last quarter (57.5m) vs 12m ago 0.70% < -2%
Gross Margin: 24.58% > 18% (prev 25.31%; Δ -0.73% > 0.5%)
Asset Turnover: 71.31% > 50% (prev 58.37%; Δ 12.94% > 0%)
Interest Coverage Ratio: 3.15 > 6 (EBIT TTM 410.8m / Interest Expense TTM 130.6m)

Altman Z'' 1.69

A: 0.10 (Total Current Assets 1.52b - Total Current Liabilities 930.8m) / Total Assets 5.63b
B: -0.01 (Retained Earnings -65.2m / Total Assets 5.63b)
C: 0.08 (EBIT TTM 410.8m / Avg Total Assets 5.20b)
D: 0.48 (Book Value of Equity 1.83b / Total Liabilities 3.79b)
Altman-Z'' = 1.69 = BB

Beneish M -2.99

DSRI: 0.80 (Receivables 718.9m/676.7m, Revenue 3.71b/2.79b)
GMI: 1.03 (GM 25.31% / 24.58%)
AQI: 0.91 (AQ_t 0.24 / AQ_t-1 0.27)
SGI: 1.33 (Revenue 3.71b / 2.79b)
TATA: -0.09 (NI 205.1m - CFO 714.6m) / TA 5.63b)
Beneish M = -2.99 (Cap -4..+1) = A

What is the price of EIF shares?

As of October 19, 2026, the stock is trading at CAD 116.57 with a total of 131,319 shares traded. Over the past week, the price has changed by -0.11%, over one month by +0.17%, over three months by -8.19% and over the past year by +55.04%.

Current recommended Stop Loss: 110.60 (which is 5.1% or 1.9 ATR below the current price).

Is EIF a buy, sell or hold?

Exchange Income has no consensus analysts rating.

Exchange Income (EIF) - Fundamental Data Overview as of 18 October 2026

Market Cap USD = 4.65b (6.57b CAD * 0.7071 CAD.USD)
P/E Trailing = 32.1129
P/E Forward = 22.4719
P/S = 1.7726
P/B = 3.7305
P/EG = 1.54
Revenue TTM = 3.71b CAD
EBIT TTM = 410.8m CAD
EBITDA TTM = 841.8m CAD
Long Term Debt = 2.33b CAD (from longTermDebt, last quarter)
Short Term Debt = 61.0m CAD (from shortTermDebt, last quarter)
Debt = 2.87b CAD (from shortLongTermDebtTotal, last quarter) + Leases 270.2m
Net Debt = 2.78b CAD (calculated: Debt 2.87b - CCE 82.0m)
Enterprise Value = 9.36b CAD (6.57b + Debt 2.87b - CCE 82.0m)
Interest Coverage Ratio = 3.15 (Ebit TTM 410.8m / Interest Expense TTM 130.6m)
EV/FCF = -63.05x (Enterprise Value 9.36b / FCF TTM -148.4m)
FCF Yield = -1.59% (FCF TTM -148.4m / Enterprise Value 9.36b)
FCF Margin = -4.00% (FCF TTM -148.4m / Revenue TTM 3.71b)
Net Margin = 5.53% (Net Income TTM 205.1m / Revenue TTM 3.71b)
Gross Margin = 24.58% ((Revenue TTM 3.71b - Cost of Revenue TTM 2.80b) / Revenue TTM)
Gross Margin QoQ = 25.66% (prev 21.45%)
Tobins Q-Ratio = 1.66 (Enterprise Value 9.36b / Total Assets 5.63b)
Interest Expense / Debt = 4.56% (Interest Expense 130.6m / Debt 2.87b)
Taxrate = 25.96% (71.9m / 277.1m)
NOPAT = 304.1m (EBIT 410.8m * (1 - 25.96%))
Current Ratio = 1.63 (Total Current Assets 1.52b / Total Current Liabilities 930.8m)
Debt / Equity = 1.56 (Debt 2.87b / totalStockholderEquity, last quarter 1.83b)
Debt / EBITDA = 3.31 (Net Debt 2.78b / EBITDA 841.8m)
Debt / FCF = -18.76 (negative FCF - burning cash) (Net Debt 2.78b / FCF TTM -148.4m)
Total Stockholder Equity = 1.75b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.94% (Net Income 205.1m / Total Assets 5.63b)
RoE = 11.69% (Net Income TTM 205.1m / Total Stockholder Equity 1.75b)
RoCE = 10.07% (EBIT 410.8m / Capital Employed (Equity 1.75b + L.T.Debt 2.33b))
RoIC = 6.50% (NOPAT 304.1m / Invested Capital 4.68b)
WACC = 6.36% (E(6.57b)/V(9.44b) * Re(7.66%) + D(2.87b)/V(9.44b) * Rd(4.56%) * (1-Tc(0.26)))
Discount Rate = 7.66% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 67.18 | Cagr: 8.18%
[DCF] Fair Price = unknown (Cash Flow -148.4m)
EPS Correlation: 87.65 | EPS CAGR: 13.30% | SUE: 0.69 | # QB: 0
Revenue Correlation: 94.90 | Revenue CAGR: 15.78% | SUE: -2.14 | # QB: -1
EPS current Quarter (2026-09-30): EPS=1.60 | Chg30d=+0.98% | Revisions=+10% | Analysts=9
EPS current Year (2026-12-31): EPS=4.69 | Chg30d=+0.84% | Revisions=+40% | GrowthEPS=+29.8% | GrowthRev=+19.5%
EPS next Year (2027-12-31): EPS=5.33 | Chg30d=+0.60% | Revisions=+40% | GrowthEPS=+13.8% | GrowthRev=+7.6%
[Analyst] Revisions Ratio: +36% (up=8, down=3)