Exchange Income Corporation (EIF) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Exchange Income Corporation stock C$62.39, price C$119, that is 47.4% below the price, quality 40 out of 100. Rating: strongly overvalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 2, 2026.
How to read this chart
60‑month range C$30.75 – C$134.90 · fair‑value band C$39.41 – C$77.99 · the C$118.58 price screens above the C$62.39 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 2, 2026.
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Exchange Income Corporation, together with its subsidiaries, engages in aerospace and aviation, and manufacturing markets worldwide. The company operates in two segments, Aerospace & Aviation, and Manufacturing.
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The Aerospace & Aviation segment offers fixed wing and rotary wing; and medevac, passenger, charter, freight services, and auxiliary services; and operates flight schools.
This segment also provides mission systems design and integration, aircraft modifications, intelligence, surveillance, reconnaissance operations, software development, logistics, and in-service support; and aftermarket aircraft, engine and parts sales, aircraft and engine leasing, and aircraft management services.
The Manufacturing segment turnkey services, such as planning, consultation, delivery and installation, logistical support, and removal and washing solutions; design, manufacture, and installation of the exteriors of residential and mixed-use high rise buildings which integrate residential, retail, and office spaces; and wireless and wireline construction and maintenance services; manufacture services of precision parts and components and portable hydronic climate control equipment, as well as specialized heavy-duty pressure washing and steam systems, commercial water recycling systems, and custom tanks.
Exchange Income Corporation is headquartered in Winnipeg, Canada.
Stock analysis
Exchange Income Corporation (EIF) currently trades at C$118.58, while our model-based Fair Value estimate is C$62.39, 47% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of C$81.23 per share, and 2 of the 16 models we run sit above the C$118.58 price.
Bear case: the Asset-Based group reads lowest at C$6.94, and 14 of the 16 models stay below the price. Data coverage for this calculation is high.
Scenario range: C$39.41 (bear) to C$77.99 (bull), the price of C$118.58 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 40/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Exchange Income Corporation reported revenue of C$3.3B in FY2025 versus C$1.4B in FY2021, a compound +23.4%/yr. Reported net income was C$168M in FY2025, compounding +25.0%/yr from FY2021.
Key figures
Market cap C$6.8B (≈ $4.8B) Mid · P/E ratio 33.3 · P/S ratio 1.84 · EPS (TTM) C$3.56 · Dividend yield 2.2% · Net margin 5.5% · Return on equity 12.5% · Return on assets (EBIT) 6.6% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 45 out of 100 (low confidence).
What moves the price
The share trades about 12% below its 52-week high and 64% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 15% fair-value upside, at −47%, EIF screens richer than that median.
Fair Value models
BearC$39.41Fair Value C$62.39BullC$77.99
Price C$118.58 · Downside -47.4%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (C$0.7693 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+23.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+16.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+23.3%
Start year 2020 (pandemic). Over 10 years: +15.0% a year
Revenue growth 20 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+22.4%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+12.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+10.3%
Dividend (yield on the price)2.2%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.10.3% vs 6.5%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.9% → 11%
News mood ⓘNews mood, the average tone of recent news (99 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Neutral
Recent news coverage is roughly neutral, about typical for how stocks are covered.
AI conclusion: The business shows strength through targeted acquisitions of established cash-flow businesses in niches yet its main weak point remains negative free cash flow and thin supporting evidence overall.
Main risk: Integration risks from acquisitions together with exposure to cyclical segments could pressure cash flows and margins in the aerospace and aviation operations.
Exchange Income grows through targeted acquisitions of established cash-flow businesses in aerospace, aviation and manufacturing niches. Strong second-quarter execution led to raised full-year guidance, yet our models see the shares as overvalued. Will continued deal flow and organic momentum outweigh integration risks and exposure to cyclical segments?
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Airlines · 52 stocks
Beats the industry median on 4/14 measures
Overall it trails its industry peers.
Valuation
Quality Score40 · Below median
Fair Value upside−47.4% · Bottom 25%
Profitability
Return on equity (12 months)12.5% · Above median
Return on assets3.2% · Below median
Net margin (12 months)5.5% · Above median
Operating margin (12 months)12.1% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)32.3% · Top 25%
Dividend yield (12 months)2.2% · Below median
Balance sheet
Debt / equity1.24× · Above median
Valuation Multiplesvs Airlines median · lower = cheaper
P/E (12 months)33.3× · Priciest 25%
P/B3.88× · Priciest 25%
P/S (12 months)1.84× · Priciest 25%
EV/EBITDA11.4× · Priciest 25%
PEG1.54× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 49
FUTURE (revenue growth)100· sector 72
PAST (return on equity)50· sector 50
HEALTH (low debt)38· sector 67
DIVIDEND (yield)45· sector 48
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Exchange Income Corporation Fair Value". https://www.fairvalue-calculator.com/stock/EIF
Frequently asked questions
Is Exchange Income Corporation (EIF) overvalued or undervalued?
As of Nov 2, 2026, our model estimates a fair value of C$62.39 versus a price of C$118.58, about 47% lower (overvalued).
What is the fair value of EIF?
Our model-based fair value for Exchange Income Corporation is C$62.39 (as of Nov 2, 2026), built from audited fundamentals. The current price: C$118.58.
What is the quality score of EIF?
Exchange Income Corporation has a Quality Score of 40/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Exchange Income Corporation (EIF)?
Our model-based price target is the fair value of C$62.39 (as of Nov 2, 2026) from 16 valuation models. Cautious scenario C$39.41, optimistic scenario C$77.99. It is a calculation from audited fundamentals, not an analyst target.
What is the Exchange Income Corporation stock forecast for 2026?
Our models put fair value at C$62.39, about 47% lower versus a price of C$118.58 (overvalued). Cautious scenario C$39.41, optimistic scenario C$77.99. The calculation is refreshed regularly with new filings.
What is the revenue of Exchange Income Corporation (EIF)?
Exchange Income Corporation reported trailing-twelve-month revenue of about C$3.7B (latest available figure, as of Nov 2, 2026).
Does Exchange Income Corporation pay a dividend?
Exchange Income Corporation currently shows a dividend yield of 2.24% relative to its recent price (as of Nov 2, 2026).
How much is the dividend of Exchange Income Corporation (EIF) and when is the ex-dividend date?
Exchange Income Corporation pays a dividend of C$2.66 per share a year, a dividend yield of 2.2%. The last ex-dividend date was Oct 30, 2026. A dividend has been paid every year since at least 2004. The payout ratio is 74.7% of earnings. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What is the intrinsic value of Exchange Income Corporation (EIF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Exchange Income Corporation it is C$62.39 per share (as of Nov 2, 2026), against a price of C$118.58. It is the blended result of 16 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Exchange Income Corporation stock overvalued or undervalued in 2026?
As of Nov 2, 2026, EIF trades above its calculated fair value: price C$118.58, fair value C$62.39, a gap of about −47% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of EIF?
No. The price is what the market pays today (C$118.58); the fair value is what the company's own numbers justify (C$62.39). For Exchange Income Corporation the two are C$56.19 per share apart. That gap is exactly why we show both numbers side by side.
How much is Exchange Income Corporation worth?
The market values Exchange Income Corporation at about C$6.8B (market capitalisation, as of Nov 2, 2026). Per share that is C$118.58; our models calculate a fair value of C$62.39 per share.
What do the bullish and bearish scenarios say about EIF?
Our models span a range for Exchange Income Corporation: cautious scenario C$39.41, base C$62.39, optimistic C$77.99 per share (as of Nov 2, 2026, price C$118.58). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of EIF?
Exchange Income Corporation trades at a price-to-earnings ratio of 33.3 (as of Nov 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of C$62.39 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 22.9. Other multiples: PEG 1.5, P/B 3.9, P/S 1.8, EV/EBITDA 11.4.
What is the PEG ratio of EIF?
The PEG ratio of Exchange Income Corporation is 1.54 (P/E divided by earnings growth, as of Nov 2, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Exchange Income Corporation (EIF)?
Balance-sheet figures for Exchange Income Corporation (as of Nov 2, 2026): return on equity 12.5%, debt of 1.24 per unit of equity. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is EIF from its 52-week high?
Exchange Income Corporation trades at C$118.58, about 12% below its 52-week high of C$134.90 and 64% above the low of C$72.39 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of C$62.39 is for.
Which stocks are comparable to Exchange Income Corporation?
From the same area (Industrials) we also value Delta Air Lines, Inc, United Airlines Holdings, Ryanair Holdings, InterGlobe Aviation Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Exchange Income Corporation stock attractive at the current price?
The data as of Nov 2, 2026: price C$118.58, calculated fair value C$62.39 (−47%), Quality Score 40/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of EIF calculated?
We run Exchange Income Corporation through 16 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of C$62.39 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Exchange Income Corporation itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Exchange Income Corporation (EIF)?
The closing price on Nov 6, 2026 was C$118.58. Our model-based fair value is C$62.39, about 47% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Exchange Income Corporation right now?
The price sits above even our optimistic bull case (C$77.99). The favourable scenario is already priced in. Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range (C$39.41 to C$77.99) leaves room in how you read the outcome.
Where does the earnings growth of Exchange Income Corporation (EIF) come from?
Earnings per share at Exchange Income Corporation grew +7.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +7.4 %, EBIT margin +0.1 %, tax rate +2.5 %, residual (interest, one-offs) −2.6 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Exchange Income Corporation
How large is the market capitalisation of Exchange Income Corporation (EIF)?
The market capitalisation of Exchange Income Corporation is C$6.8B (≈ $4.8B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Exchange Income Corporation (EIF)?
The price-to-sales ratio of Exchange Income Corporation is 1.84 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Exchange Income Corporation (EIF)?
Earnings per share at Exchange Income Corporation are C$3.56 (price ÷ EPS = P/E 33.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Exchange Income Corporation (EIF)?
The dividend yield of Exchange Income Corporation is 2.2% (payout 74.7%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Exchange Income Corporation (EIF)?
The net margin of Exchange Income Corporation is 5.5% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Exchange Income Corporation (EIF)?
The return on equity (ROE) of Exchange Income Corporation is 12.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Exchange Income Corporation (EIF)?
On an EBIT basis the return on assets of Exchange Income Corporation is 6.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Exchange Income Corporation (EIF)?
The operating margin of Exchange Income Corporation is 12.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Exchange Income Corporation (EIF)?
Revenue at Exchange Income Corporation is growing +32.3% versus a year earlier (3y avg +16.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Exchange Income Corporation (EIF)?
Earnings per share at Exchange Income Corporation are growing +31.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Exchange Income Corporation (EIF) generate?
The free cash flow of Exchange Income Corporation is −C$80.4M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Exchange Income Corporation (EIF) carry?
The net debt of Exchange Income Corporation is C$2.5B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 2, 2026