Findev Inc (FDI) fair value: what the stock is really worth
As of Nov 10, 2026: fair value (intrinsic value) of Findev Inc stock C$0.54, price C$0.27, upside +100.0%, quality 59 out of 100. Rating: strongly undervalued. Calculated from audited financials with 3 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 12, 2026.
How to read this chart
60‑month range C$0.2200 – C$0.5090 · fair‑value band C$0.3260 – C$0.9170 · the C$0.2700 price screens below the C$0.5400 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 12, 2026.
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Findev Inc., a real estate finance company, provides real estate financing secured by investment properties and real estate developments in Canada. It targets real estate projects, which include condominiums, purpose-built rentals, townhouses, low-rise/subdivisions, and retail developments.
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The company was formerly known as TransGaming Inc. and changed its name to Findev Inc. in October 2016. Findev Inc. was incorporated in 2004 and is based in Toronto, Canada.
Stock analysis
Findev Inc (FDI) currently trades at C$0.2700, while our model-based Fair Value estimate is C$0.5400, implying the stock looks roughly 50% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of C$0.4550 per share, and 3 of the 3 models we run sit above the C$0.2700 price.
Bear case: the Asset-Based group reads lowest at C$0.3600, and 0 of the 3 models stay below the price. Data coverage for this calculation is low.
Scenario range: C$0.3260 (bear) to C$0.9170 (bull), the price of C$0.2700 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 59/100 (solid quality), in the Financial Services sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Findev Inc reported revenue of C$2.2M in FY2025 versus C$2.7M in FY2021, a compound −5.2%/yr. Reported net income was −C$6.7M in FY2025.
Key figures
Market cap C$7.7M (≈ $5.4M) Micro · P/S ratio 3.10 · EPS (TTM) C$−0.2100 · Dividend yield 11.9% · Return on equity −24.0% · Return on assets (EBIT) 3.2% (5-year average) · Operating margin −209% · Revenue (TTM) C$2.5M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 6 out of 100 (low confidence).
What moves the price
The share trades about 35% below its 52-week high and 23% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −1% fair-value upside, at 100%, FDI screens cheaper than that median.
Fair Value models
BearC$0.3260Fair Value C$0.5400BullC$0.9170
Price C$0.2700 · Upside +100.0%
Capped: our models arrive at a very high value here. We deliberately show a more cautious Fair Value.
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.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.18/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−44.3%
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.
−10.9%
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.
−0.7%
Start year 2020 (pandemic). Over 10 years: +1.1% a year
Revenue growth 12 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.
−3.7%
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Profit margin (trend) ⓘ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.
87.8% (2020) → −279.4% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
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).
−10.1%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Canada: IMF forecast 2.1% a year to 2030, 2.6% from 2016 to 2025) that is about −12.0% 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.Mortgage Finance · 55 stocks
Beats the industry median on 6/8 measures
Overall it ranks above its industry peers.
Valuation
Quality Score59 · Above median
Fair Value upside+100.0% · Top 25%
Profitability
Return on assets−34.1% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)36.5% · Top 25%
Dividend yield (12 months)11.9% · Top 25%
Valuation Multiplesvs Mortgage Finance median · lower = cheaper
P/B0.41× · Cheapest 25%
P/S (12 months)3.10× · Pricier than median
Price / free cash flow (fiscal year)8.3× · Cheaper than median
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). "Findev Inc Fair Value". https://www.fairvalue-calculator.com/stock/FDI
Frequently asked questions
Is Findev Inc (FDI) overvalued or undervalued?
As of Nov 12, 2026, our model estimates a fair value of C$0.5400 versus a price of C$0.2700, about +100% upside (undervalued).
What is the fair value of FDI?
Our model-based fair value for Findev Inc is C$0.5400 (as of Nov 12, 2026), built from audited fundamentals. The current price: C$0.2700.
What is the quality score of FDI?
Findev Inc has a Quality Score of 59/100. 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 Findev Inc (FDI)?
Our model-based price target is the fair value of C$0.5400 (as of Nov 12, 2026) from 3 valuation models. Cautious scenario C$0.3260, optimistic scenario C$0.9170. It is a calculation from audited fundamentals, not an analyst target.
What is the Findev Inc stock forecast for 2026?
Our models put fair value at C$0.5400, about +100% upside versus a price of C$0.2700 (undervalued). Cautious scenario C$0.3260, optimistic scenario C$0.9170. The calculation is refreshed regularly with new filings.
What is the revenue of Findev Inc (FDI)?
Findev Inc reported trailing-twelve-month revenue of about C$2.5M (latest available figure, as of Nov 12, 2026).
Does Findev Inc pay a dividend?
Findev Inc currently shows a dividend yield of 11.85% relative to its recent price (as of Nov 12, 2026).
How much is the dividend of Findev Inc (FDI) and when is the ex-dividend date?
Findev Inc pays a dividend of C$0.032 per share a year, a dividend yield of 11.9%. The last ex-dividend date was Sep 23, 2026. A dividend has been paid every year since at least 2016. Free cash flow covers the dividend 1.02 times. Our assessment: Cash covered. The dividend is fully funded by free cash flow. The payout ratio on earnings is not available for this company.
What growth is priced into Findev Inc (FDI)?
For today's price to be fair in a discounted-cash-flow model, Findev Inc would have to grow free cash flow by -10.1 % per year for five years (discount rate 8.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -0.7 % per year. As of Nov 12, 2026.
What discount rate (WACC) does the fair value of FDI use?
Our models discount Findev Inc at 8.4 %: a base by market capitalisation (nano), damped by beta 0.54, 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 Findev Inc that is -10.1 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (8.4 %) and the same formula as our fair value.
How much growth has Findev Inc (FDI) delivered so far?
Over the past 5 years revenue at Findev Inc grew -0.7 % a year. The price currently implies free-cash-flow growth of -10.1 % per 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 Findev Inc (FDI) growing?
The median revenue growth in the sector is +8.8 % a year. That is the yardstick for the growth priced into Findev Inc (-10.1 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Findev Inc (FDI)?
The free-cash-flow yield on the price is 12.05 %: that much free cash flow Findev Inc produces per unit of market value. When it exceeds the discount rate of our models (8.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Findev Inc (FDI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Findev Inc it is C$0.5400 per share (as of Nov 12, 2026), against a price of C$0.2700. It is the blended result of 3 valuation models in 2 families (Asset-Based, Growth DCF).
Is Findev Inc stock overvalued or undervalued in 2026?
As of Nov 12, 2026, FDI trades below its calculated fair value: price C$0.2700, fair value C$0.5400, 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 FDI?
No. The price is what the market pays today (C$0.2700); the fair value is what the company's own numbers justify (C$0.5400). For Findev Inc the two are C$0.2700 per share apart. That gap is exactly why we show both numbers side by side.
How much is Findev Inc worth?
The market values Findev Inc at about C$7.7M (market capitalisation, as of Nov 12, 2026). Per share that is C$0.2700; our models calculate a fair value of C$0.5400 per share.
What do the bullish and bearish scenarios say about FDI?
Our models span a range for Findev Inc: cautious scenario C$0.3260, base C$0.5400, optimistic C$0.9170 per share (as of Nov 12, 2026, price C$0.2700). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Findev Inc (FDI)?
Balance-sheet figures for Findev Inc (as of Nov 12, 2026): return on equity −24.0%. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is FDI from its 52-week high?
Findev Inc trades at C$0.2700, about 35% below its 52-week high of C$0.4132 and 23% above the low of C$0.2200 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of C$0.5400 is for.
Which stocks are comparable to Findev Inc?
From the same area (Financial Services) we also value Rocket Companies, Inc, Bajaj Housing Finance Limited, PennyMac Financial Services, Inc, LIC Housing Finance 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 Findev Inc stock attractive at the current price?
The data as of Nov 12, 2026: price C$0.2700, calculated fair value C$0.5400 (+100%), Quality Score 59/100, from 3 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 FDI calculated?
We run Findev Inc through 3 models from 2 families: Asset-Based, Growth DCF. Every model gets the same audited fundamentals; the fair value of C$0.5400 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 14.3% above its aggregate fair value. Findev Inc 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 Findev Inc (FDI)?
The closing price on Nov 10, 2026 was C$0.2700. Our model-based fair value is C$0.5400, about +100% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Findev Inc right now?
The price is below even our cautious bear case (C$0.3260). The market is more pessimistic than our downside scenario. The model range is unusually wide (C$0.3260 to C$0.9170). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (59/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Findev Inc
How large is the market capitalisation of Findev Inc (FDI)?
The market capitalisation of Findev Inc is C$7.7M (≈ $5.4M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Findev Inc (FDI)?
The price-to-sales ratio of Findev Inc is 3.10 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Findev Inc (FDI)?
Earnings per share at Findev Inc are C$−0.2100. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Findev Inc (FDI)?
The dividend yield of Findev Inc is 11.9%. 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 return on equity of Findev Inc (FDI)?
The return on equity (ROE) of Findev Inc is −24.0% (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 Findev Inc (FDI)?
On an EBIT basis the return on assets of Findev Inc is 3.2% (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 Findev Inc (FDI)?
The operating margin of Findev Inc is −209% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Findev Inc (FDI)?
Revenue at Findev Inc is growing +36.5% versus a year earlier (3y avg −10.9%). 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 Findev Inc (FDI)?
Earnings per share at Findev Inc are growing +34.9% versus a year earlier. How much earnings per share grew versus a year earlier.
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Thin data
Nov 12, 2026