FTG Stock Analysis: Firan Technology | TO
Aerospace & Defense | TO, Canada | Market Cap: 864m CAD | 12M Return: 237.7% | CA3180931014 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 2.47M
EPS Trend: 92.7%
Qual. Beats: 3
Rev. Trend: 99.4%
Qual. Beats: 1
Warnings
No concerns identified
Tailwinds
Seasonality
Firan Technology Group Corporation (FTG) is a Toronto-based aerospace and defense supplier with two business segments: FTG Circuits and FTG Aerospace. It manufactures printed circuit boards and related assemblies, along with cockpit control panels, lighting systems, and other aerospace electronic products for customers in Canada and international markets.
Its products support aircraft and defense applications, where electronic components and assemblies are designed to meet demanding operating conditions. FTG was founded in 1983 and was formerly known as Circuit World Corporation.
- Aircraft production growth lifts FTG Aerospace revenue
- Defense spending supports cockpit systems demand
- PCB utilization and pricing pressure drive Circuits margins
| Net Income: 22.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.11 > 0.02 and ΔFCF/TA 2.49 > 1.0 |
| NWC/Revenue: 30.28% < 20% (prev 28.90%; Δ 1.38% < -1%) |
| CFO/TA 0.14 > 3% & CFO 25.8m > Net Income 22.2m |
| Net Debt (9.82m) to EBITDA (39.9m): 0.25 < 3 |
| Current Ratio: 2.40 > 1.5 & < 3 |
| Outstanding Shares: last quarter (25.4m) vs 12m ago -0.15% < -2% |
| Gross Margin: 35.52% > 18% (prev 31.82%; Δ 3.70% > 0.5%) |
| Asset Turnover: 123.8% > 50% (prev 111.4%; Δ 12.40% > 0%) |
| Interest Coverage Ratio: 11.97 > 6 (EBIT TTM 29.0m / Interest Expense TTM 2.42m) |
| A: 0.36 (Total Current Assets 112.5m - Total Current Liabilities 46.8m) / Total Assets 185.0m |
| B: 0.40 (Retained Earnings 73.4m / Total Assets 185.0m) |
| C: 0.17 (EBIT TTM 29.0m / Avg Total Assets 175.4m) |
| D: 1.57 (Book Value of Equity 112.5m / Total Liabilities 71.7m) |
| Altman-Z'' = 6.39 = AAA |
| DSRI: 1.35 (Receivables 56.3m/35.5m, Revenue 217.1m/184.6m) |
| GMI: 0.90 (GM 31.82% / 35.52%) |
| AQI: 0.95 (AQ_t 0.20 / AQ_t-1 0.21) |
| SGI: 1.18 (Revenue 217.1m / 184.6m) |
| TATA: -0.02 (NI 22.2m - CFO 25.8m) / TA 185.0m) |
| Beneish M = -2.74 (Cap -4..+1) = A |
As of October 18, 2026, the stock is trading at CAD 34.34 with a total of 71,365 shares traded. Over the past week, the price has changed by +7.31%, over one month by +61.60%, over three months by +42.55% and over the past year by +237.66%.
Current recommended Stop Loss: 32.10 (which is 6.5% or 1.2 ATR below the current price).
Firan Technology has no consensus analysts rating.
P/E Trailing = 39.4713
P/E Forward = 26.8097
P/S = 4.006
P/B = 5.8644
Revenue TTM = 217.1m CAD
EBIT TTM = 29.0m CAD
EBITDA TTM = 39.9m CAD
Long Term Debt = 13.9m CAD (from longTermDebt, last fiscal year)
Short Term Debt = 4.15m CAD (from shortTermDebt, last quarter)
Debt = 22.6m CAD (from shortLongTermDebtTotal, last quarter) (leases 23.2m already included)
Net Debt = 9.82m CAD (calculated: Debt 22.6m - CCE 12.7m)
Enterprise Value = 874.3m CAD (864.5m + Debt 22.6m - CCE 12.7m)
Interest Coverage Ratio = 11.97 (Ebit TTM 29.0m / Interest Expense TTM 2.42m)
EV/FCF = 42.42x (Enterprise Value 874.3m / FCF TTM 20.6m)
FCF Yield = 2.36% (FCF TTM 20.6m / Enterprise Value 874.3m)
FCF Margin = 9.50% (FCF TTM 20.6m / Revenue TTM 217.1m)
Net Margin = 10.22% (Net Income TTM 22.2m / Revenue TTM 217.1m)
Gross Margin = 35.52% ((Revenue TTM 217.1m - Cost of Revenue TTM 140.0m) / Revenue TTM)
Gross Margin QoQ = 42.65% (prev 36.49%)
Tobins Q-Ratio = 4.73 (Enterprise Value 874.3m / Total Assets 185.0m)
Interest Expense / Debt = 10.74% (Interest Expense 2.42m / Debt 22.6m)
Taxrate = 7.66% (1.85m / 24.2m)
NOPAT = 26.8m (EBIT 29.0m * (1 - 7.66%))
Current Ratio = 2.40 (Total Current Assets 112.5m / Total Current Liabilities 46.8m)
Debt / Equity = 0.20 (Debt 22.6m / totalStockholderEquity, last quarter 112.5m)
Debt / EBITDA = 0.25 (Net Debt 9.82m / EBITDA 39.9m)
Debt / FCF = 0.48 (Net Debt 9.82m / FCF TTM 20.6m)
Total Stockholder Equity = 102.6m (last 4 quarters mean from totalStockholderEquity)
RoA = 12.65% (Net Income 22.2m / Total Assets 185.0m)
RoE = 21.62% (Net Income TTM 22.2m / Total Stockholder Equity 102.6m)
RoCE = 24.91% (EBIT 29.0m / Capital Employed (Equity 102.6m + L.T.Debt 13.9m))
RoIC = 20.39% (NOPAT 26.8m / Invested Capital 131.5m)
WACC = 8.79% (E(864.5m)/V(887.0m) * Re(8.76%) + D(22.6m)/V(887.0m) * Rd(10.74%) * (1-Tc(0.08)))
Discount Rate = 8.76% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 81.98 | Cagr: 2.13%
[DCF] Terminal Value 76.56% ; FCFF base≈18.1m ; Y1≈20.8m ; Y5≈30.5m
[DCF] Fair Price = 16.56 (EV 426.7m - Net Debt 9.82m = Equity 416.9m / Shares 25.2m; r=8.79% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 92.73 | EPS CAGR: 41.41% | SUE: 4.0 | # QB: 3
Revenue Correlation: 99.42 | Revenue CAGR: 17.10% | SUE: 4.0 | # QB: 1
EPS current Quarter (2027-02-28): EPS=0.19 | Chg30d=N/A | Revisions=+0% | Analysts=1
EPS current Year (2026-11-30): EPS=1.01 | Chg30d=+38.49% | Revisions=+50% | GrowthEPS=+93.8% | GrowthRev=+17.4%
EPS next Year (2027-11-30): EPS=1.12 | Chg30d=+23.69% | Revisions=+50% | GrowthEPS=+11.4% | GrowthRev=+12.2%
[Analyst] Revisions Ratio: +67% (up=6, down=0)