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The Western Investment Company (WI) Fair Value & Analysis

Financial Services · CA · Market cap C$154M

TW The Western Investment Company WI · V
PriceC$1.08
Fair ValueC$0.3900
Upside-63.9%
Quality48/100
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Mixed Growth
Highly profitable · 24.9% net margin
Low debt · generates free cash flow
Mixed vs. peers (7/13)
Moderate moat 60/100
Evidence: Low Range C$0.2600 – C$0.5200 Share as image

Fair value as of: Jul 27, 2026

From 7 valuation models · updated 14 days ago

Share price +4.9% over the past month.

Below-average quality, and screening another 64% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (C$0.5200). The favourable scenario is already priced in.
  • 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 but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (C$0.2600 to C$0.5200) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

C$1.14 C$0.2442 Fair Value C$0.3900 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 27, 2026.

How to read this chart

60‑month range C$0.2442 – C$1.14 · fair‑value band C$0.2600 – C$0.5200 · the C$1.08 price screens above the C$0.3900 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 27, 2026.

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Analysis

The Western Investment Company (WI) currently trades at C$1.08, while our model-based Fair Value estimate is C$0.3900, implying the stock looks roughly 63.9% overvalued today. The Quality Score stands at 48/100 (below-average quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Over the trailing twelve months, The Western Investment Company generated revenue of C$52.0M at a net margin of 24.9%. Revenue grew 233.3% year over year. It earns a return on equity of 18.2%. Net debt stands at C$6.1M. Fundamentals as of Jul 27, 2026

Our scenario range runs from C$0.2600 (bear case) to C$0.5200 (bull case); at C$1.08, the current price sits above 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 about 7% below its 52-week high and 135% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -12% fair-value upside, at -64%, WI screens richer 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
Growth DCF C$0.7600 C$1.02 C$1.42 80
Rev-Margin DCF C$0.7500 C$1.04 C$1.65 74
NCAV (Graham) C$0.2000 C$0.2700 C$0.4000 50
All 7 models by family
DCF Models
FCF DCF C$0.7900 C$0.9700 C$1.50 38
5Y Revenue Exit C$0.7100 C$0.9500 C$1.45 39
10Y Revenue Exit C$0.7300 C$1.11 C$1.33 36
Multiples
EV/Revenue C$0.6400 C$0.7700 C$0.9000 43
Asset-Based
NCAV (Graham) C$0.2000 C$0.2700 C$0.4000 50
Growth DCF
Growth DCF C$0.7600 C$1.02 C$1.42 80
Rev-Margin DCF C$0.7500 C$1.04 C$1.65 74

Widest divergence: Growth DCF (C$1.02) versus Asset-Based (C$0.2700). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) C$52.0M
Revenue growth (YoY) +233%
Net margin 24.9%
Return on equity 18.2%
Free cash flow C$6.1M FY2025
P/E ratio 16.0
More key figures
Operating margin 52.7%
EPS (TTM) C$0.0600
EPS growth (YoY) -82.4%
Net debt C$6.1M FY2023

Figures from reported company fundamentals · as of Jul 27, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 48/100

Of which business quality 51 · Market factors (momentum, volatility) 81

Profitability 9
Margins and returns on capital today
Quality Growth 79
Are margins and returns improving?
Cashflow 80
Earnings quality: real cash, not paper profit
Fin. Strength 88
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 82
Price trend over the last 3–12 months (market factor)
52W Momentum 94
Distance to the 52-week high (market factor)
Net Issuance 4
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

The Western Investment Company of Canada Limited, is a private equity firm specializing in buyout and middle market investments. It seeks investments in retail and distribution, human services, agriculture and related services and special situations.

Full company description

The Western Investment Company of Canada Limited, is a private equity firm specializing in buyout and middle market investments. It seeks investments in retail and distribution, human services, agriculture and related services and special situations. The firm prefers to invest in USA and Canada with a focus in companies which are headquartered in Western Canada like Alberta, British Columbia, Manitoba and Saskatchewan. Through its subsidiaries, operates as an automotive glass service company in Canada. It provides repair and replacement of windshields, side windows, side mirrors, rear windows, and sun roofs; and wholesale of aftermarket glass parts and materials. The company also operates as a specialty retailer, which imports and sells household products through a marketing channel in North America; provides commercial, property, accident and sickness, boiler and machinery, marine, and automobile liability insurance services; and produces and distributes butter and ice cream products, and ice cream cones through grocery retail and food service network in Western Canada, as well as through two distribution facilities in Edmonton and Kelowna. It serves dealerships, auto-body shops, fleet companies, and car rental companies through 10 retail locations, and mobile repair and installation units. The firm seeks to invest in the companies having enterprise value between CAD10 million ($7.88 million) to CAD100 million ($78.84 million). The firm acquires significant ownership positions and seeks to take majority stakes in its portfolio companies. The Western Investment Company of Canada Limited was founded in 2015 and is based in Calgary, Canada.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

The Western Investment Company reported revenue of C$34.5M in FY2025 versus C$1.4M in FY2021, a compound +123.8%/yr. Reported net income was −C$565K in FY2025.

Growth Quality 80/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
C$34.5M
Latest YoY
+313.6%
Avg. growth/yr (3Y) 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.
+395.2%
Avg. growth/yr (8Y) 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.
+107.6%
Revenue +123.8%/yr
FY21 C$1.4M
FY22 C$284K
FY23 C$173K
FY24 C$8.3M
FY25 C$34.5M
Net income
FY21 C$20.0K
FY22 −C$215K
FY23 C$202K
FY24 C$1.3M
FY25 −C$565K

WI screens 64% overvalued. Compare with Berkshire Hathaway Inc →

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Cite: Fair Value Calculator (2026). "The Western Investment Company Fair Value". https://www.fairvalue-calculator.com/stock/WI

Peer Group

Insurance - Diversified · 84 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 50 · Below median
Fair Value upside −64% · Bottom 25%
Return on equity (TTM) 18% · Above median
Return on assets 6% · Top 25%
Net margin (TTM) 25% · Top 25%
Operating margin (TTM) 53% · Top 25%
Revenue growth 233% · Top 25%
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Insurance - Diversified median · lower = cheaper

P/E (TTM) 16.0× · Pricier than median
P/B 1.73× · Pricier than median
P/S (TTM) 2.12× · Pricier than 75% of peers
P/FCF 18.2× · Pricier than 75% of peers
EV/EBITDA 4.5× · Cheaper than median

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 0 · sector 45
FUTURE 100 · sector 31
PAST 73 · sector 49
HEALTH 99 · sector 89
DIVIDEND 0 · sector 45

VALUE 0: the price sits above our fair-value range.

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 Insurance - Diversified stocks, each showing price versus our Fair Value estimate (as of Jul 27, 2026).

Stock Price Fair Value vs Fair Value
Berkshire Hathaway Inc BRKB 8,562 MXN 10,844 MXN +27%
Allianz SE ALV €421.00 €369.31 -12%
Zurich Insurance Group ZURN CHF 624.40 CHF 619.80 -1%
AXA SA AXAN 888.28 MXN 1,249 MXN +41%
Assicurazioni Generali S.p.A G €42.90 €12.18 -72%
Sun Life Financial Inc SLF C$114.20 C$87.83 -23%
BB Seguridade Participações S.A BBSE3 R$40.71 R$60.39 +48%
Tryg A/S TRYG kr 154.00 kr 116.45 -24%
PT Sinar Mas Multiartha Tbk SMMA 20,625 IDR 4,176 IDR -80%
Caixa Seguridade Participações S.A CXSE3 R$21.77 R$18.60 -15%

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Frequently asked questions

Is The Western Investment Company (WI) overvalued or undervalued?
As of Jul 27, 2026, our model estimates a fair value of C$0.3900 versus a price of C$1.08, about −64% (overvalued).
What is the fair value of WI?
Our model-based fair value for The Western Investment Company is C$0.3900 (as of Jul 27, 2026), built from audited fundamentals. The current price is C$1.08.
What is the quality score of WI?
The Western Investment Company has a Quality Score of 48/100. 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 revenue of The Western Investment Company (WI)?
The Western Investment Company reported trailing-twelve-month revenue of about C$52.0M (latest available figure, as of Jul 27, 2026).
What is the net profit margin of WI?
The net profit margin of The Western Investment Company is about 24.9%, meaning it keeps roughly 24.9% 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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