Finning International Inc. (FTT) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Finning International Inc. stock C$74.26, price C$91.97, that is 19.3% below the price, quality 64 out of 100. Rating: overvalued. 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. As of Nov 1, 2026.
How to read this chart
60‑month range C$21.74 – C$113.57 · fair‑value band C$47.28 – C$96.54 · the C$91.97 price screens above the C$74.26 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 1, 2026.
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Finning International Inc. sells, services, and rents heavy equipment, engines, and related products in Canada, Chile, the United Kingdom, Argentina, and internationally.
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The company offers articulated trucks, asphalt pavers, backhoe loaders, cold planers, compactors, dozers, drills, electric rope shovels, excavators, hydraulic mining shovels, log stackers, material handlers, motor graders, off-highway trucks, pipelayers, remixing transfer vehicle, road reclaimers, road wideners, skid steer and compact track loaders, track distributors, telehandlers, underground-hard rock, wheel loaders, window elevators, wheel tractor-scrapers, vibratory double drum asphalt and single drum pad, and mobile and stationary generator sets.
It also provides feller bunchers track, quick coupler, winch, adapters, augers, backhoes, bale grabs and spears, blades, brooms, cold planers, compactors, excavator and loader couplers, electric power controls, flail mowers, forks, grapples, hammers, material handling, mulchers, nursery and snow products, pulverizes, rakers, rippers, saws, shears, stump grinders, trillers, tilt rotate systems, and trenchers; and backhoe front and rear, compact wheel loaders, excavators, loaders, mining shovels, skid steer loaders, and telehandler buckets.
In addition, it offers power systems for electric power generation, oil and gas, industrial, and marine power systems; and fuel, fluid analysis, financing, maintenance, rebuilds, repair, warranty, and customer training services, as well as rents generators, battery energy storage systems, electrical distribution product, air compressor, and heavy equipment.
It serves agriculture, construction, forestry, mining, paving, pipeline, power systems, and landscaping equipment industries, as well as government. The company was formerly known as Finning Ltd. and changed its name to Finning International Inc. in April 1997.
The company was incorporated in 1933 and is headquartered in Surrey, Canada.
Stock analysis
Finning International Inc. (FTT) currently trades at C$91.97, while our model-based Fair Value estimate is C$74.26, 19% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of C$78.80 per share, and 4 of the 26 models we run sit above the C$91.97 price.
Bear case: the Dividend Discount group reads lowest at C$16.72, and 22 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: C$47.28 (bear) to C$96.54 (bull), the price of C$91.97 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 64/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Finning International Inc. reported revenue of C$10.6B in FY2025 versus C$7.3B in FY2021, a compound +9.8%/yr. Reported net income was C$506M in FY2025, compounding +8.6%/yr from FY2021.
Key figures
Market cap C$13.2B (≈ $9.4B) Mid · P/E ratio 22.1 · P/S ratio 1.18 · EPS (TTM) C$4.17 · Dividend yield 1.3% · Net margin 4.9% · Return on equity 19.3% · Return on assets (EBIT) 10.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 54 out of 100 (medium confidence).
What moves the price
The share trades about 19% below its 52-week high and 30% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −27% fair-value upside, at −19%, FTT screens cheaper than that median.
Fair Value models
BearC$47.28Fair Value C$74.26BullC$96.54
Price C$91.97 · Downside -19.3%
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$2.54 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.78/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−5.5%
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.
+4.5%
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.
+11.3%
Start year 2020 (pandemic). Over 10 years: +5.4% a year
Revenue growth 31 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.
+6.6%
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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.
+22.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+20.7%
Dividend (yield on the price)1.3%
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.20.7% vs 13.0%, 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.5% → 8%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
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).
+16.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+5.5%
Yearly sales growth analysts expect, extended to five years.
After inflation (Canada: IMF forecast 2.1% a year to 2030, 2.6% from 2016 to 2025) that is about +14.3% a year for the price and +3.3% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (84 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.Positive
Recent news coverage is more positive than average.
AI conclusion: The business shows moderate quality with decent returns aided by expanding rental and service streams yet is constrained by thin differentiation signals and modest pricing power in industrial distribution.
Main risk: Termination or adverse changes in the Caterpillar dealership agreements could sharply reduce product access and compress margins for the distributor whose business relies overwhelmingly on Caterpillar equipment and parts.
Bull case: By deepening its Caterpillar partnership and accelerating rental, service and hybrid power offerings the company could offset any single-brand exposure and capture steadier recurring revenue.
Bear case: If the Caterpillar relationship weakens or rivals advance faster with alternative technologies, equipment sales and aftermarket volumes could decline materially over several years.
Finning just completed the acquisition of a UK generator rental specialist, instantly adding thousands of units and a plan to more than triple its power rental revenue in the UK and Ireland. The move accelerates the shift from one-off equipment sales toward steadier rental and service income streams. Our models still see the stock as overvalued. Will the rental push create enough recurring cash flow to change that assessment, or will it mainly expand the footprint without addressing the core valuation gap?
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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.Industrial Distribution · 108 stocks
Beats the industry median on 6/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score64 · Above median
Fair Value upside−19.3% · Below median
Profitability
Return on equity (12 months)19.3% · Top 25%
Return on assets6.5% · Above median
Net margin (12 months)4.9% · Below median
Operating margin (12 months)7.9% · Above median
Growth and dividend
Revenue growth (quarter YoY)20.0% · Top 25%
Dividend yield (12 months)1.3% · Below median
Balance sheet
Debt / equity0.43× · Highest 25%
Valuation Multiplesvs Industrial Distribution median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Finning International Inc. Fair Value". https://www.fairvalue-calculator.com/stock/FTT
Frequently asked questions
Is Finning International Inc. (FTT) overvalued or undervalued?
As of Nov 1, 2026, our model estimates a fair value of C$74.26 versus a price of C$91.97, about 19% lower (overvalued).
What is the fair value of FTT?
Our model-based fair value for Finning International Inc. is C$74.26 (as of Nov 1, 2026), built from audited fundamentals. The current price: C$91.97.
What is the quality score of FTT?
Finning International Inc. has a Quality Score of 64/100. 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 Finning International Inc. (FTT)?
Our model-based price target is the fair value of C$74.26 (as of Nov 1, 2026) from 26 valuation models. Cautious scenario C$47.28, optimistic scenario C$96.54. It is a calculation from audited fundamentals, not an analyst target.
What is the Finning International Inc. stock forecast for 2026?
Our models put fair value at C$74.26, about 19% lower versus a price of C$91.97 (overvalued). Cautious scenario C$47.28, optimistic scenario C$96.54. The calculation is refreshed regularly with new filings.
What is the revenue of Finning International Inc. (FTT)?
Finning International Inc. reported trailing-twelve-month revenue of about C$11.2B (latest available figure, as of Nov 1, 2026).
Does Finning International Inc. pay a dividend?
Finning International Inc. currently shows a dividend yield of 1.29% relative to its recent price (as of Nov 1, 2026).
What growth is priced into Finning International Inc. (FTT)?
For today's price to be fair in a discounted-cash-flow model, Finning International Inc. would have to grow free cash flow by +16.7 % per year for five years (discount rate 10.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.3 % per year. As of Nov 1, 2026.
What discount rate (WACC) does the fair value of FTT use?
Our models discount Finning International Inc. at 10.0 %: a base by market capitalisation (mid), damped by beta 1.21, 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 Finning International Inc. that is +16.7 % per year a year over ten years, using the same discount rate (10.0 %) and the same formula as our fair value.
How much growth has Finning International Inc. (FTT) delivered so far?
Over the past 5 years revenue at Finning International Inc. grew +11.3 % a year. The price currently implies +16.7 % 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 Finning International Inc. (FTT) growing?
The median revenue growth in the sector is +7.9 % a year. That is the yardstick for the growth priced into Finning International Inc. (+16.7 % 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 Finning International Inc. (FTT)?
The free-cash-flow yield on the price is 3.99 %: that much free cash flow Finning International Inc. produces per unit of market value. When it exceeds the discount rate of our models (10.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Finning International Inc. (FTT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Finning International Inc. it is C$74.26 per share (as of Nov 1, 2026), against a price of C$91.97. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Finning International Inc. stock overvalued or undervalued in 2026?
As of Nov 1, 2026, FTT trades above its calculated fair value: price C$91.97, fair value C$74.26, a gap of about −19% (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 FTT?
No. The price is what the market pays today (C$91.97); the fair value is what the company's own numbers justify (C$74.26). For Finning International Inc. the two are C$17.71 per share apart. That gap is exactly why we show both numbers side by side.
How much is Finning International Inc. worth?
The market values Finning International Inc. at about C$13.2B (market capitalisation, as of Nov 1, 2026). Per share that is C$91.97; our models calculate a fair value of C$74.26 per share.
What do the bullish and bearish scenarios say about FTT?
Our models span a range for Finning International Inc.: cautious scenario C$47.28, base C$74.26, optimistic C$96.54 per share (as of Nov 1, 2026, price C$91.97). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FTT?
Finning International Inc. trades at a price-to-earnings ratio of 22.1 (as of Nov 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of C$74.26 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 17.2. Other multiples: PEG 0.5, P/B 4.7, P/S 1.2, EV/EBITDA 12.1.
What is the PEG ratio of FTT?
The PEG ratio of Finning International Inc. is 0.49 (P/E divided by earnings growth, as of Nov 1, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Finning International Inc. (FTT)?
Balance-sheet figures for Finning International Inc. (as of Nov 1, 2026): return on equity 19.3%, debt of 0.43 per unit of equity. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is FTT from its 52-week high?
Finning International Inc. trades at C$91.97, about 19% below its 52-week high of C$113.57 and 30% above the low of C$70.90 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of C$74.26 is for.
Which stocks are comparable to Finning International Inc.?
From the same area (Industrials) we also value W.W. Grainger, Inc, Fastenal Company, Ferguson Enterprises Inc, WESCO International, Inc, 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 Finning International Inc. stock attractive at the current price?
The data as of Nov 1, 2026: price C$91.97, calculated fair value C$74.26 (−19%), Quality Score 64/100, from 26 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 FTT calculated?
We run Finning International Inc. through 26 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$74.26, 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 15.5% above its aggregate fair value. Finning International Inc. 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 Finning International Inc. (FTT)?
The closing price on Nov 5, 2026 was C$91.97. Our model-based fair value is C$74.26, about 19% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Finning International Inc. right now?
Solid but not exceptional quality (64/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (C$47.28 to C$96.54) leaves room in how you read the outcome.
Where does the earnings growth of Finning International Inc. (FTT) come from?
Earnings per share at Finning International Inc. grew +14.0 % a year from 2014 to 2025. Broken into its drivers: revenue per share +8.5 %, EBIT margin +2.9 %, tax rate −0.5 %, 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 Finning International Inc.
How large is the market capitalisation of Finning International Inc. (FTT)?
The market capitalisation of Finning International Inc. is C$13.2B (≈ $9.4B). 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 Finning International Inc. (FTT)?
The price-to-sales ratio of Finning International Inc. is 1.18 (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 Finning International Inc. (FTT)?
Earnings per share at Finning International Inc. are C$4.17 (price ÷ EPS = P/E 22.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Finning International Inc. (FTT)?
The dividend yield of Finning International Inc. is 1.3% (payout 28.4%). 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 Finning International Inc. (FTT)?
The net margin of Finning International Inc. is 4.9% (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 Finning International Inc. (FTT)?
The return on equity (ROE) of Finning International Inc. is 19.3% (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 Finning International Inc. (FTT)?
On an EBIT basis the return on assets of Finning International Inc. is 10.7% (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 Finning International Inc. (FTT)?
The operating margin of Finning International Inc. is 7.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Finning International Inc. (FTT)?
Revenue at Finning International Inc. is growing +20.0% versus a year earlier (3y avg +4.5%). 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 Finning International Inc. (FTT)?
Earnings per share at Finning International Inc. are growing −42.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Finning International Inc. (FTT) carry?
The net debt of Finning International Inc. is C$1.9B (fiscal year 2025, ≈ 4.0 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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Broad data
Nov 1, 2026