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Dividend 15 Split Corp (DF) Fair Value & Analysis

Financial Services · CA · Market cap C$248M

D1 Dividend 15 Split Corp DF · TO
PriceC$9.30
Fair ValueC$18.44
Upside+98.3%
Quality44/100
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Mixed Growth
Thin margins · 0.0% net margin
negative free cash flow
Trails peers (3/11)
Moderate moat 58/100
Evidence: High Range C$9.64 – C$23.05 Share as image

Fair value as of: Aug 13, 2026

From 8 valuation models · updated yesterday

Fair value updated Aug 13, 2026, revised from C$10.69 to C$18.44 (+72.5%) since Jul 18, 2026. Share price −0.9% over the past month.

Below-average quality, screening 98% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (C$9.64). The market is more pessimistic than our downside scenario.
  • A fairly wide model range (C$9.64 to C$23.05) 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.
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Price vs Fair Value (5 years)

C$9.69 C$1.50 Fair Value C$18.44 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range C$1.50 – C$9.69 · fair‑value band C$9.64 – C$23.05 · the C$9.30 price screens below the C$18.44 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Dividend 15 Split Corp (DF) currently trades at C$9.30, while our model-based Fair Value estimate is C$18.44, implying the stock looks roughly 98.3% undervalued today. The Quality Score stands at 44/100 (below-average quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Net debt stands at C$209M. The stock trades on a trailing P/E of 4.6. Fundamentals as of Aug 13, 2026

Our scenario range runs from C$9.64 (bear case) to C$23.05 (bull case); at C$9.30, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 83% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -33% fair-value upside, at 98%, DF screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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. Evidence
Highest evidence
Residual Income C$9.09 C$11.48 C$29.32 76
Gordon GGM C$7.34 C$12.30 C$15.96 70
P/E Multiple C$17.61 C$23.48 C$29.35 63
All 8 models by family
Earnings-Based
Graham-Dodd C$12.28 C$85.66 C$120.21 54
Lynch FV C$44.25 C$63.22 C$82.19 50
Dividend Discount
Gordon GGM C$7.34 C$12.30 C$15.96 70
DDM Multi-Stage C$7.34 C$11.66 C$13.23 61
Multiples
P/E Multiple C$17.61 C$23.48 C$29.35 63
P/B Multiple C$8.02 C$10.69 C$13.36 55
Asset-Based
NCAV (Graham) C$3.82 C$5.11 C$7.63 50
Economic Profit
Residual Income C$9.09 C$11.48 C$29.32 76

Widest divergence: Earnings-Based (C$63.22) versus Asset-Based (C$5.11). Highest evidence: Residual Income (76).

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Key figures & financial health

Free cash flow −C$4.0M FY2025
P/E ratio 4.6
EPS (TTM) C$2.04
Net debt C$209M FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 44/100

Of which business quality 42 · Market factors (momentum, volatility) 90

Profitability 52
Margins and returns on capital today
Quality Growth 33
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 54
Balance sheet, leverage, solvency risk
Investment 82
Disciplined investing over empire-building
Low Volatility 96
Calm price path (market factor)
Momentum 81
Price trend over the last 3–12 months (market factor)
52W Momentum 97
Distance to the 52-week high (market factor)
Net Issuance 50
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Dividend 15 Split Corp. II is a close ended equity mutual fund launched by Quadravest Inc. The fund is managed by Quadravest Capital Management. It invests in public equity markets of Canada. The fund invests in stocks of companies operating across the diversified sectors. It benchmarks the performance of its portfolio against the S&P TSX 60 Index.

Full company description

Dividend 15 Split Corp. II is a close ended equity mutual fund launched by Quadravest Inc. The fund is managed by Quadravest Capital Management. It invests in public equity markets of Canada. The fund invests in stocks of companies operating across the diversified sectors. It benchmarks the performance of its portfolio against the S&P TSX 60 Index. Dividend 15 Split Corp. II was formed on September 28, 2006 and is domiciled in Canada.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Dividend 15 Split Corp reported revenue of C$32.8M in FY2025 versus C$44.9M in FY2021, a compound −7.6%/yr. Reported net income was C$47.0M in FY2025, compounding +1.8%/yr from FY2021.

Growth Quality 48/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
C$32.8M
Latest YoY
+82.4%
Avg. growth/yr (19Y) 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.
+34.6%
Revenue −7.6%/yr
FY21 C$44.9M
FY22 C$10.0M
FY23 C$26.0M
FY24 C$18.0M
FY25 C$32.8M
Net income +1.8%/yr
FY21 C$43.8M
FY22 C$8.6M
FY23 −C$25.1M
FY24 C$95.4M
FY25 C$47.0M

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Cite: Fair Value Calculator (2026). "Dividend 15 Split Corp Fair Value". https://www.fairvalue-calculator.com/stock/DF

Peer Group

Asset Management · 690 stocks

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.

Quality Score 45 · Bottom 25%
Fair Value upside +98% · Top 25%
Return on assets 0% · Below median
Net margin (TTM) 0% · Below median
Operating margin (TTM) 0% · Bottom 25%
Revenue growth 0% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Asset Management median · lower = cheaper

P/E (TTM) 4.6× · Cheaper than 75% of peers
P/B 0.90× · Pricier than median
EV/EBITDA 2.2× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 38
FUTURE 0 · sector 14
PAST 0 · sector 25
HEALTH 0 · sector 95
DIVIDEND 0 · sector 68

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Asset Management stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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AB Industrivärden INDUA kr 544.00 kr 375.93 -31%
ICICIAMC ICICIAMC ₹3,077 ₹1,132 -63%
Jio Financial Services Limited JIOFIN ₹256.05 ₹171.84 -33%
Hedef Holding HEDEF 267.25 TRY 321.44 TRY +20%
Bajaj Holdings BAJAJHLDNG ₹11,579 ₹11,257 -3%
HDFC Asset Management Company HDFCAMC ₹2,490 ₹866.78 -65%
Nippon Life Asset Management Limited NAMINDIA ₹1,182 ₹311.00 -74%

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Frequently asked questions

Is Dividend 15 Split Corp (DF) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of C$18.44 versus a price of C$9.30, about +98% (undervalued).
What is the fair value of DF?
Our model-based fair value for Dividend 15 Split Corp is C$18.44 (as of Aug 13, 2026), built from audited fundamentals. The current price is C$9.30.
What is the quality score of DF?
Dividend 15 Split Corp has a Quality Score of 44/100. 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 net profit margin of DF?
The net profit margin of Dividend 15 Split Corp is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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