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Findev Inc (TNSGF) fair value: what the stock is really worth
As of Sep 18, 2026: fair value of Findev Inc $0.12, price $0.07, upside +71.0%, quality 64 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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Thin data
Sep 24, 2026
Thin data
Sep 24, 2026
Findev Inc
TNSGF · USClearly undervaluedStrong Fair Value upside, but quality is only moderate.
✓Fair value $0.1214 · Strongly undervalued (+71.0%)
✓Quality 64/100
!Weak Growth (revenue 5y −0.7 %/yr)
✓Low debt · generates free cash flow
!Narrow moat 33/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
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 $0.0006 – $0.9045 · fair‑value band $0.0811 – $0.1889 · the $0.0710 price screens below the $0.1214 fair value. Dashed = 300-day average. As of Sep 24, 2026.
Company profile
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. The company was formerly known as TransGaming Inc.
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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. 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 (TNSGF) currently trades at $0.0710, while our model-based Fair Value estimate is $0.1214, implying the stock looks roughly 41.5% undervalued today.
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Valuation
How firm this estimate is: it rests on 6 models at a data quality of 95/100, which puts the evidence level at low.
Scenario range: $0.0811 (bear) to $0.1889 (bull), the price of $0.0710 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 64/100 (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$2.1M 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 $15.3M · P/S ratio 6.67 · EPS (TTM) $−0.1200 · Net margin −219% · Return on equity −22.1% · Return on assets (EBIT) 3.2% · Operating margin 29.3% · Revenue (TTM) C$2.3M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (low confidence).
What moves the price
For context, the median of 10 Financial Services peers we cover trades at 21% fair-value upside, at 71%, TNSGF screens cheaper than that median.
Fair Value models
Bear $0.0811
Fair Value $0.1214
Bull $0.1889
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.
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.
Highest evidence
Growth DCF
$0.5700
$0.9100
$1.42
77
NCAV (Graham)
$0.2300
$0.3100
$0.4700
53
All 2 models by family
Asset-Based
NCAV (Graham)
$0.2300
$0.3100
$0.4700
53
Growth DCF
Growth DCF
$0.5700
$0.9100
$1.42
77
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Set up alert →Quality Score breakdown
Overall quality
64/100
Of which business quality 62 · Market factors (momentum, volatility) 16
Profitability
4
Margins and returns on capital today
Quality Growth
18
Are margins and returns improving?
Cashflow
100
Earnings quality: real cash, not paper profit
Fin. Strength
68
Balance sheet, leverage, solvency risk
Investment
100
Disciplined investing over empire-building
Low Volatility
47
Calm price path (market factor)
Momentum
1
Price trend over the last 3–12 months (market factor)
52W Momentum
4
Distance to the 52-week high (market factor)
Net Issuance
100
Share count: buybacks or dilution?
Revenue & earnings trend
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
−40.5%
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.
−11.0%
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: +1.0% a year
Revenue growth 17 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.
−2.1%
’13
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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
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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 · 89 stocks
Beats the industry median on 4/9 measures
A mixed picture versus its industry peers.
Valuation Multiplesvs Mortgage Finance median · lower = cheaper
Context: sector, industry, market
- Is the Financials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: US Stocks
- Valuation of the USA market
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
Similar stocks
10 more Mortgage Finance stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Federal Home Loan Mortgage Corporation FMCCT | $12.00 | $24.00 | +100% |
| Rocket Companies, Inc RKT | $11.97 | $2.81 | −77% |
| Federal National Mortgage Association FNMAS | $8.40 | $2.00 | −76% |
| Bajaj Housing Finance Limited BAJAJHFL | ₹83.14 | ₹25.20 | −70% |
| PennyMac Financial Services, Inc PFSI | $65.46 | $125.39 | +92% |
| UWM Holdings UWMC | $1.24 | $0.2100 | −83% |
| LIC Housing Finance Limited LICHSGFIN | ₹564.15 | ₹1,128 | +100% |
| PNB Housing Finance Limited PNBHOUSING | ₹1,098 | ₹1,329 | +21% |
| Aadhar Housing Finance Limited AADHARHFC | ₹448.40 | ₹611.66 | +36% |
| Guild Holdings GHLD | $64.54 | $55.87 | −13% |
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Frequently asked questions
Is Findev Inc (TNSGF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $0.1214 versus the last price from Sep 18, 2026 of $0.0710, about +71% upside (undervalued).
What is the fair value of TNSGF?
Our model-based fair value for Findev Inc is $0.1214 (as of Sep 24, 2026), built from audited fundamentals. Last price (from Sep 18, 2026): $0.0710.
What is the quality score of TNSGF?
Findev 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 Findev Inc (TNSGF)?
Our model-based price target is the fair value of $0.1214 (as of Sep 24, 2026) from 2 valuation models. Cautious scenario $0.0811, optimistic scenario $0.1889. 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 $0.1214, about +71% upside versus the last price from Sep 18, 2026 of $0.0710 (undervalued). Cautious scenario $0.0811, optimistic scenario $0.1889. The calculation is refreshed regularly with new filings.
What is the revenue of Findev Inc (TNSGF)?
Findev Inc reported trailing-twelve-month revenue of about C$2.3M (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Findev Inc (TNSGF)?
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 $0.1214 per share (as of Sep 24, 2026), against a price of $0.0710. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is Findev Inc stock overvalued or undervalued in 2026?
As of Sep 24, 2026, TNSGF trades below its calculated fair value: price $0.0710, fair value $0.1214, a gap of about +71% (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 TNSGF?
No. The price is what the market pays today ($0.0710); the fair value is what the company's own numbers justify ($0.1214). For Findev Inc the two are $0.0504 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 $15.3M (market capitalisation, as of Sep 24, 2026). Per share that is $0.0710; our models calculate a fair value of $0.1214 per share.
What do the bullish and bearish scenarios say about TNSGF?
Our models span a range for Findev Inc: cautious scenario $0.0811, base $0.1214, optimistic $0.1889 per share (as of Sep 24, 2026, price $0.0710). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Findev Inc (TNSGF)?
Balance-sheet figures for Findev Inc (as of Sep 24, 2026): return on equity −22.1%. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
Which stocks are comparable to Findev Inc?
From the same area (Financial Services) we also value Federal Home Loan Mortgage Corporation, Rocket Companies, Inc, Federal National Mortgage Association, Bajaj 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 Sep 24, 2026: price $0.0710, calculated fair value $0.1214 (+71%), Quality Score 64/100, from 2 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 TNSGF calculated?
We run Findev Inc through 2 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 $0.1214, 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. Findev Inc currently trades 42 % 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 (TNSGF)?
The latest price we hold is from Sep 18, 2026 and stands at $0.0710. Our model-based fair value is $0.1214, about +71% 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 ($0.0811). The market is more pessimistic than our downside scenario. 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 (64/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range ($0.0811 to $0.1889) leaves room in how you read the outcome.
Key figures of Findev Inc
How large is the market capitalisation of Findev Inc (TNSGF)?
The market capitalisation of Findev Inc is $15.3M. 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 (TNSGF)?
The price-to-sales ratio of Findev Inc is 6.67 (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 (TNSGF)?
Earnings per share at Findev Inc are $−0.1200. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Findev Inc (TNSGF)?
The net margin of Findev Inc is −219% (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 Findev Inc (TNSGF)?
The return on equity (ROE) of Findev Inc is −22.1% (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 (TNSGF)?
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 (TNSGF)?
The operating margin of Findev Inc is 29.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Findev Inc (TNSGF)?
Revenue at Findev Inc is growing +28.1% versus a year earlier (3y avg −11.0%). 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 (TNSGF)?
Earnings per share at Findev Inc are growing +34.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Findev Inc (TNSGF) generate?
The free cash flow of Findev Inc is C$2.0M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Findev Inc (TNSGF) hold?
Findev Inc holds more cash than debt, C$374K net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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