CXI.TO (CXI) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of CXI.TO C$62.00, price C$31.00, upside +100.0%, quality 81 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range C$12.42 – C$31.47 · fair‑value band C$44.18 – C$89.96 · the C$31.00 price screens below the C$62.00 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Currency Exchange International, Corp., together with its subsidiary, Exchange Bank of Canada, provides foreign exchange technology and processing services in Canada and the United States.
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Currency Exchange International, Corp., together with its subsidiary, Exchange Bank of Canada, provides foreign exchange technology and processing services in Canada and the United States. The company offers financial institutions, international wire payments, foreign check clearing, foreign bank note exchange, and foreign draft issuance solutions; corporations, hedging and risk management, and international payment solutions; international traveler's, foreign currency exchange, gold bullion coins and bars, and affiliate e-commerce program solutions; and currency price protection and student currency reservation services. It serves individuals, banks, financial institutions, corporations, and money service businesses; commercial and retail markets; and the travel, technology, payroll, healthcare, and nonprofit sectors. Currency Exchange International, Corp. was incorporated in 1998 and is based in Orlando, Florida.
Stock analysis
CXI.TO (CXI) currently trades at C$31.00, while our model-based Fair Value estimate is C$62.00, implying the stock looks roughly 50.0% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of C$71.25 per share, and 8 of the 11 models we run sit above the C$31.00 price.
Bear case: the Asset-Based group reads lowest at C$13.64, and 3 of the 11 models stay below the price. Evidence for this calculation is medium.
Scenario range: C$44.18 (bear) to C$89.96 (bull), the price of C$31.00 sits below 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 81/100 (high quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
CXI.TO reported revenue of $72.4M in FY2025 versus $30.6M in FY2021, a compound +24.1%/yr. Reported net income was $10.3M in FY2025.
Key figures
Market cap C$190M (≈ $133M) · P/E ratio 9.5 · P/S ratio 1.35 · EPS (TTM) C$3.26 · Net margin 14.2% · Return on equity 16.6% · Return on assets (EBIT) 11.5% · Operating margin 26.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 1% below its 52-week high and 40% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −15% fair-value upside, at 100%, CXI screens cheaper than that median.
Fair Value models
Bear C$44.18Fair Value C$62.00Bull C$89.96
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 11 months old). Earnings retained since then (C$3.01 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.Evidence ⓘEvidence = 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.87/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
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.
+40.8%
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.
+15.3%
Revenue growth 16 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.
+25.0%
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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.
+29.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+29.9%
Dividend (yield on the price)0.0%
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.29.9% vs 10.5%, 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.−16% → 28%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−18.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −20.1% a year for the price.
Price, fair value, quality and upside side by side.
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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.Capital Markets · 456 stocks
Beats the industry median on 8/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score81 · Top 25%
Fair Value upside+100.0% · Top 25%
Profitability
Return on equity (TTM)16.6% · Above median
Return on assets10.2% · Top 25%
Net margin (TTM)6.5% · Below median
Operating margin (TTM)26.7% · Above median
Growth and dividend
Revenue growth13.4% · Below median
Valuation Multiplesvs Capital Markets median · lower = cheaper
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). "CXI.TO Fair Value". https://www.fairvalue-calculator.com/stock/CXI
Frequently asked questions
Is CXI.TO (CXI) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of C$62.00 versus a price of C$31.00, about +100% upside (undervalued).
What is the fair value of CXI?
Our model-based fair value for CXI.TO is C$62.00 (as of Sep 24, 2026), built from audited fundamentals. The current price: C$31.00.
What is the quality score of CXI?
CXI.TO has a Quality Score of 81/100. 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 CXI.TO (CXI)?
Our model-based price target is the fair value of C$62.00 (as of Sep 24, 2026) from 11 valuation models. Cautious scenario C$44.18, optimistic scenario C$89.96. It is a calculation from audited fundamentals, not an analyst target.
What is the CXI.TO stock forecast for 2026?
Our models put fair value at C$62.00, about +100% upside versus a price of C$31.00 (undervalued). Cautious scenario C$44.18, optimistic scenario C$89.96. The calculation is refreshed regularly with new filings.
What is the revenue of CXI.TO (CXI)?
CXI.TO reported trailing-twelve-month revenue of about $74.5M (latest available figure, as of Sep 24, 2026).
What growth is priced into CXI.TO (CXI)?
For today's price to be fair in a discounted-cash-flow model, CXI.TO would have to grow free cash flow by -18.2 % per year for five years (discount rate 11.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +23.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of CXI use?
Our models discount CXI.TO at 11.5 %: a base by market capitalisation (micro), damped by beta 0.69, country premium for Canada. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For CXI.TO that is -18.2 % per year a year over ten years, using the same discount rate (11.5 %) and the same formula as our fair value.
How much growth has CXI.TO (CXI) delivered so far?
Over the past 5 years revenue at CXI.TO grew +23.7 % a year. The price currently implies -18.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of CXI.TO (CXI) growing?
The median revenue growth in the sector is +9.2 % a year. That is the yardstick for the growth priced into CXI.TO (-18.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of CXI.TO (CXI)?
The free-cash-flow yield on the price is 8.63 %: that much free cash flow CXI.TO produces per unit of market value. When it exceeds the discount rate of our models (11.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of CXI.TO (CXI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For CXI.TO it is C$62.00 per share (as of Sep 24, 2026), against a price of C$31.00. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is CXI.TO stock overvalued or undervalued in 2026?
As of Sep 24, 2026, CXI trades below its calculated fair value: price C$31.00, fair value C$62.00, a gap of about +100% (undervalued). 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 CXI?
No. The price is what the market pays today (C$31.00); the fair value is what the company's own numbers justify (C$62.00). For CXI.TO the two are C$31.00 per share apart. That gap is exactly why we show both numbers side by side.
How much is CXI.TO worth?
The market values CXI.TO at about C$190M (market capitalisation, as of Sep 24, 2026). Per share that is C$31.00; our models calculate a fair value of C$62.00 per share.
What do the bullish and bearish scenarios say about CXI?
Our models span a range for CXI.TO: cautious scenario C$44.18, base C$62.00, optimistic C$89.96 per share (as of Sep 24, 2026, price C$31.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CXI?
CXI.TO trades at a price-to-earnings ratio of 9.5 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of C$62.00 is built from several models across several years. Other multiples: P/B 1.6, P/S 1.8, EV/EBITDA 1.7.
How solid is the balance sheet of CXI.TO (CXI)?
Balance-sheet figures for CXI.TO (as of Sep 24, 2026): return on equity 16.6%. They feed the Quality Score of 81/100, which measures business quality independently of the share price.
How far is CXI from its 52-week high?
CXI.TO trades at C$31.00, about 1% below its 52-week high of C$31.47 and 40% above the low of C$22.17 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of C$62.00 is for.
Which stocks are comparable to CXI.TO?
From the same area (Financial Services) we also value Morgan Stanley, a financial holding company,, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers Group, 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 CXI.TO stock attractive at the current price?
The data as of Sep 24, 2026: price C$31.00, calculated fair value C$62.00 (+100%), Quality Score 81/100, from 11 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 CXI calculated?
We run CXI.TO through 11 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of C$62.00, 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 14.5 % above its aggregate fair value. CXI.TO currently trades 50 % below its own fair value, and the market average says nothing about that. 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 CXI.TO (CXI)?
The closing price on Oct 2, 2026 was C$31.00. Our model-based fair value is C$62.00, about +100% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with CXI.TO right now?
The rarer combination: high quality (81/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case (C$44.18). The market is more pessimistic than our downside scenario. A fairly wide model range (C$44.18 to C$89.96) leaves room in how you read the outcome. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of CXI.TO (CXI) come from?
Earnings per share at CXI.TO grew +6.8 % a year from 2014 to 2025. Broken into its drivers: revenue per share +13.1 %, EBIT margin −2.7 %, tax rate −0.8 %, residual (interest, one-offs) −2.2 %. 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 CXI.TO
How large is the market capitalisation of CXI.TO (CXI)?
The market capitalisation of CXI.TO is C$190M (≈ $133M). 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 CXI.TO (CXI)?
The price-to-sales ratio of CXI.TO is 1.35 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of CXI.TO (CXI)?
Earnings per share at CXI.TO are C$3.26 (price ÷ EPS = P/E 9.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of CXI.TO (CXI)?
The net margin of CXI.TO is 14.2% (fiscal year 2025). 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 CXI.TO (CXI)?
The return on equity (ROE) of CXI.TO is 16.6% (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 CXI.TO (CXI)?
On an EBIT basis the return on assets of CXI.TO is 11.5% (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 CXI.TO (CXI)?
The operating margin of CXI.TO is 26.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at CXI.TO (CXI)?
Revenue at CXI.TO is growing +13.4% versus a year earlier (3y avg +2.4%). 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 CXI.TO (CXI)?
Earnings per share at CXI.TO are growing +102% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does CXI.TO (CXI) hold?
CXI.TO holds more cash than debt, $85.1M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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