Fairfax Financial Holdings Ltd (FFH) fair value: what the stock is really worth
We calculate from audited financials what Fairfax Financial Holdings Ltd is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 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 17, 2026.
How to read this chart
60‑month range C$462.74 – C$2,603 · fair‑value band C$2,205 – C$3,675 · the C$2,245 price screens below the C$2,940 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 17, 2026.
Fairfax Financial Holdings Limited, through its subsidiaries, provides property and casualty insurance and reinsurance, and investment management services in Canada, the United States, the Middle East and Asia, and internationally.
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Fairfax Financial Holdings Limited, through its subsidiaries, provides property and casualty insurance and reinsurance, and investment management services in Canada, the United States, the Middle East and Asia, and internationally. It operates through Property and Casualty Insurance and Reinsurance; Life insurance and Run-off; and Non-Insurance Companies segments. The company offers property insurance, which insures against losses to property from fire, explosion, and terrorism, as well as natural perils, such as earthquake, windstorm, and flood; and engineering problems, including boiler explosion, machinery breakdown, and construction defects. It also provides casualty insurance, which insures against accidents, and workers' compensation and automobile; employers' liability, accident and health, medical malpractice, cyber, and professional liability and umbrella coverage; specialty insurance comprising marine, aerospace and surety risk, and other various risks and liabilities; and reinsurance products. In addition, the company engages in the franchising, owning, and operating of restaurants; specialty sleep retailing; sports lifestyle retailing; owns and operates holiday resorts; originates, processes, and distributes value-added pulses and staple food; develops, invests, and manages hospitality real estate; and designs, manufactures, and distributes performance sports related equipment, and related apparel and accessories. Further, it offers travel and travel-related financial services; infrastructure support services; advanced digital tools for agriculture; and value-added milk, fats, fresh confectionery, and plant-based bulk ingredients. The company was formerly known as Markel Financial Holdings Limited and changed its name to Fairfax Financial Holdings Limited in 1987. Fairfax Financial Holdings Limited was incorporated in 1951 and is headquartered in Toronto, Canada.
Stock analysis
Fairfax Financial Holdings Ltd (FFH) currently trades at C$2,245, while our model-based Fair Value estimate is C$2,940, implying the stock looks roughly 23.6% undervalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of C$2,317 per share, and 2 of the 6 models we run sit above the C$2,245 price.
Bear case: the Dividend Discount group reads lowest at C$310.63, and 4 of the 6 models stay below the price. Evidence for this calculation is high.
Scenario range: C$2,205 (bear) to C$3,675 (bull), the price of C$2,245 sits inside 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 58/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Fairfax Financial Holdings Ltd reported revenue of $30.4B in FY2025 versus $25.8B in FY2021, a compound +4.2%/yr. Reported net income was $4.8B in FY2025, compounding +8.8%/yr from FY2021.
Key figures
Market cap C$50.1B (≈ $35.6B) · P/E ratio 7.9 · P/S ratio 1.24 · EPS (TTM) C$280.92 · Dividend yield 0.9% · Net margin 15.7% · Return on equity 17.2% · Return on assets (EBIT) 5.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (medium confidence).
What moves the price
The share trades about 16% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −24% fair-value upside, at 31%, FFH screens cheaper than that median.
Fair Value models
Bear C$2,205Fair Value C$2,940Bull C$3,675
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 9 months old). Earnings retained since then (C$194.04 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.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.74/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+6.9%
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.
+15.8%
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.
+8.9%
Revenue growth 32 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.
+16.0%
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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.
+25.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+24.5%
Dividend (yield on the price)0.9%
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.25% vs 16%, 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.1% → 21%
Growth Forecast
Price in line with expectations
The price assumes about as much growth as 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).
+5.9%
Yearly growth needed for the next five years to justify today's price.
News mood ⓘNews mood, the average tone of recent news (97 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.Very negative
Compare Fairfax Financial Holdings Ltd with another stock
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.Insurance - Property & Casualty · 118 stocks
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Is Fairfax Financial Holdings Ltd (FFH) overvalued or undervalued?
As of Sep 17, 2026, our model estimates a fair value of C$2,940 versus a price of C$2,245, about +31% upside (undervalued).
What is the fair value of FFH?
Our model-based fair value for Fairfax Financial Holdings Ltd is C$2,940 (as of Sep 17, 2026), built from audited fundamentals. The current price: C$2,245.
What is the quality score of FFH?
Fairfax Financial Holdings Ltd has a Quality Score of 58/100. 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 Fairfax Financial Holdings Ltd (FFH)?
Our model-based price target is the fair value of C$2,940 (as of Sep 17, 2026) from 6 valuation models. Cautious scenario C$2,205, optimistic scenario C$3,675. It is a calculation from audited fundamentals, not an analyst target.
What is the Fairfax Financial Holdings Ltd stock forecast for 2026?
Our models put fair value at C$2,940, about +31% upside versus a price of C$2,245 (undervalued). Cautious scenario C$2,205, optimistic scenario C$3,675. The calculation is refreshed regularly with new filings.
What is the revenue of Fairfax Financial Holdings Ltd (FFH)?
Fairfax Financial Holdings Ltd reported trailing-twelve-month revenue of about C$38.6B (latest available figure, as of Sep 17, 2026).
Does Fairfax Financial Holdings Ltd pay a dividend?
Fairfax Financial Holdings Ltd currently shows a dividend yield of about 0.93% relative to its recent price (as of Sep 17, 2026).
What growth is priced into Fairfax Financial Holdings Ltd (FFH)?
For today's price to be fair in a discounted-cash-flow model, Fairfax Financial Holdings Ltd would have to grow free cash flow by +5.9 % per year for five years (discount rate 7.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.9 % per year. As of Sep 17, 2026.
What discount rate (WACC) does the fair value of FFH use?
Our models discount Fairfax Financial Holdings Ltd at 7.9 %: a base by market capitalisation (large), damped by beta 0.45, 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 Fairfax Financial Holdings Ltd that is +5.9 % per year a year over ten years, using the same discount rate (7.9 %) and the same formula as our fair value.
How much growth has Fairfax Financial Holdings Ltd (FFH) delivered so far?
Over the past 5 years revenue at Fairfax Financial Holdings Ltd grew +8.9 % a year. The price currently implies +5.9 % 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 Fairfax Financial Holdings Ltd (FFH) growing?
The median revenue growth in the sector is +8.3 % a year. That is the yardstick for the growth priced into Fairfax Financial Holdings Ltd (+5.9 % 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 Fairfax Financial Holdings Ltd (FFH)?
The free-cash-flow yield on the price is 4.78 %: that much free cash flow Fairfax Financial Holdings Ltd produces per unit of market value. When it exceeds the discount rate of our models (7.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Fairfax Financial Holdings Ltd (FFH)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Fairfax Financial Holdings Ltd it is C$2,940 per share (as of Sep 17, 2026), against a price of C$2,245. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Fairfax Financial Holdings Ltd stock overvalued or undervalued in 2026?
As of Sep 17, 2026, FFH trades below its calculated fair value: price C$2,245, fair value C$2,940, a gap of about +31% (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 FFH?
No. The price is what the market pays today (C$2,245); the fair value is what the company's own numbers justify (C$2,940). For Fairfax Financial Holdings Ltd the two are C$694.87 per share apart. That gap is exactly why we show both numbers side by side.
How much is Fairfax Financial Holdings Ltd worth?
The market values Fairfax Financial Holdings Ltd at about C$50.1B (market capitalisation, as of Sep 17, 2026). Per share that is C$2,245; our models calculate a fair value of C$2,940 per share.
What do the bullish and bearish scenarios say about FFH?
Our models span a range for Fairfax Financial Holdings Ltd: cautious scenario C$2,205, base C$2,940, optimistic C$3,675 per share (as of Sep 17, 2026, price C$2,245). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FFH?
Fairfax Financial Holdings Ltd trades at a price-to-earnings ratio of 7.9 (as of Sep 17, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of C$2,940 is built from several models across several years. Other multiples: PEG 0.3, P/B 1.3, P/S 0.9, EV/EBITDA 4.5.
What is the PEG ratio of FFH?
The PEG ratio of Fairfax Financial Holdings Ltd is 0.28 (P/E divided by earnings growth, as of Sep 17, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Fairfax Financial Holdings Ltd (FFH)?
Balance-sheet figures for Fairfax Financial Holdings Ltd (as of Sep 17, 2026): return on equity 17.2%, debt of 0.42 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is FFH from its 52-week high?
Fairfax Financial Holdings Ltd trades at C$2,245, about 16% below its 52-week high of C$2,678 and 9% above the low of C$2,066 (as of Sep 17, 2026). Distance from the high says nothing about value: that is what the fair value of C$2,940 is for.
Which stocks are comparable to Fairfax Financial Holdings Ltd?
From the same area (Financial Services) we also value The Progressive Corporation, Chubb Limited, The Travelers Companies, Inc, The Allstate Corporation, 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 Fairfax Financial Holdings Ltd stock attractive at the current price?
The data as of Sep 17, 2026: price C$2,245, calculated fair value C$2,940 (+31%), Quality Score 58/100, from 6 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 FFH calculated?
We run Fairfax Financial Holdings Ltd through 6 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$2,940, 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 16.2 % above its aggregate fair value. Fairfax Financial Holdings Ltd currently trades 31 % 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 Fairfax Financial Holdings Ltd (FFH)?
The closing price on Sep 21, 2026 was C$2,245. Our model-based fair value is C$2,940, about +31% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Fairfax Financial Holdings Ltd right now?
Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality. 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 Fairfax Financial Holdings Ltd (FFH) come from?
Earnings per share at Fairfax Financial Holdings Ltd grew +15.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +12.0 %, EBIT margin +3.3 %, tax rate +0.3 %, residual (interest, one-offs) −0.6 %. 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 Fairfax Financial Holdings Ltd
How large is the market capitalisation of Fairfax Financial Holdings Ltd (FFH)?
The market capitalisation of Fairfax Financial Holdings Ltd is C$50.1B (≈ $35.6B). 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 Fairfax Financial Holdings Ltd (FFH)?
The price-to-sales ratio of Fairfax Financial Holdings Ltd is 1.24 (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 Fairfax Financial Holdings Ltd (FFH)?
Earnings per share at Fairfax Financial Holdings Ltd are C$280.92 (price ÷ EPS = P/E 7.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Fairfax Financial Holdings Ltd (FFH)?
The dividend yield of Fairfax Financial Holdings Ltd is 0.9% (payout 7.4%). 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 Fairfax Financial Holdings Ltd (FFH)?
The net margin of Fairfax Financial Holdings Ltd is 15.7% (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 Fairfax Financial Holdings Ltd (FFH)?
The return on equity (ROE) of Fairfax Financial Holdings Ltd is 17.2% (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 Fairfax Financial Holdings Ltd (FFH)?
On an EBIT basis the return on assets of Fairfax Financial Holdings Ltd is 5.7% (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 Fairfax Financial Holdings Ltd (FFH)?
The operating margin of Fairfax Financial Holdings Ltd is 14.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Fairfax Financial Holdings Ltd (FFH)?
Revenue at Fairfax Financial Holdings Ltd is growing −7.8% versus a year earlier (3y avg +15.8%). 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 Fairfax Financial Holdings Ltd (FFH)?
Earnings per share at Fairfax Financial Holdings Ltd are growing −27.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Fairfax Financial Holdings Ltd (FFH) carry?
The net debt of Fairfax Financial Holdings Ltd is C$3.2B (fiscal year 2025, ≈ 1.3 yrs of FCF). 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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