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FTT.TO (FTT) Fair Value & Analysis

Industrials · CA · Market cap C$13.4B (≈ $9.7B) · ISIN CA3180714048

What is FTT.TO really worth?

FT FTT.TO FTT · TO
PriceC$90.06
Fair ValueC$76.38
Upside−15.2%
Quality64/100

A solid business, but trading 18% above our fair value of C$76.38.

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Strengths

Low debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y +11.3 %/yr)
!Thin margins · 6.3% net margin
!Mixed vs. peers (7/15)
!Moderate moat 54/100
!Weak on valuation: 13 out of 100
!Weak on future: 11 out of 100
!Weak on dividend: 26 out of 100

For context

·1.31% dividend yield
Evidence: High Range C$44.44 – C$101.73

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 22 days ago

Share price −9.7% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters 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$44.44 to C$101.73) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

C$108.08 C$21.74 Fair Value C$76.38 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range C$21.74 – C$108.08 · fair‑value band C$44.44 – C$101.73 · the C$90.06 price screens above the C$76.38 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

FTT.TO (FTT) currently trades at C$90.06, while our model-based Fair Value estimate is C$76.38, implying the stock looks roughly 17.9% overvalued today. The Quality Score stands at 64/100 (solid quality), in the Industrials sector. Bull case: the Multiples group reads highest at a median of C$79.19 per share, and 5 of the 26 models we run sit above the C$90.06 price. Bear case: the Asset-Based group reads lowest at C$14.31, and 21 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, FTT.TO generated revenue of C$10.6B at a net margin of 6.3%. Revenue grew 2.1% year over year. It earns a return on equity of 18.6%. Net debt stands at C$1.9B. Fundamentals as of Aug 13, 2026

Our scenario range runs from C$44.44 (bear case) to C$101.73 (bull case); at C$90.06, the current price sits within 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 17% below its 52-week high and 75% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at −39% fair-value upside, at −15%, FTT screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly C$1.85 per share, which is 2.4 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
FCF DCF C$36.35 C$61.93 C$101.89 78
Growth DCF C$36.90 C$59.19 C$91.68 77
Owner Earnings C$55.03 C$91.79 C$149.24 75
All 26 models by family
DCF Models
FCF DCF C$36.35 C$61.93 C$101.89 78
Owner Earnings C$55.03 C$91.79 C$149.24 75
5Y Revenue Exit C$46.04 C$82.06 C$128.85 71
5Y EBITDA Exit C$63.26 C$114.83 C$176.17 74
5Y P/E Exit C$44.21 C$78.58 C$115.22 70
10Y Revenue Exit C$40.31 C$72.58 C$117.49 65
10Y EBITDA Exit C$53.22 C$95.56 C$154.22 66
10Y P/E Exit C$41.00 C$70.14 C$106.92 63
Earnings-Based
Graham-Dodd C$26.35 C$89.13 C$119.48 64
Lynch FV C$20.37 C$29.10 C$37.84 61
PEG = 1.0 C$20.37 C$29.10 C$37.84 57
EPV C$43.56 C$51.87 C$59.15 74
Dividend Discount
Gordon GGM C$10.97 C$22.81 C$36.19 66
DDM Multi-Stage C$10.97 C$18.85 C$23.94 66
Multiples
P/E Multiple C$61.04 C$81.39 C$101.73 63
P/S Multiple C$49.41 C$65.88 C$82.35 58
P/B Multiple C$49.41 C$65.88 C$82.35 55
EV/EBIT C$77.55 C$105.51 C$133.47 66
EV/EBITDA C$87.09 C$118.23 C$149.36 67
EV/Revenue C$53.54 C$79.19 C$104.85 53
Asset-Based
NCAV (Graham) C$10.68 C$14.31 C$21.35 54
Growth DCF
Growth DCF C$36.90 C$59.19 C$91.68 77
Rev-Margin DCF C$46.04 C$81.57 C$123.20 71
Economic Profit
Residual Income C$25.33 C$33.29 C$113.08 64
ROIC Compounder C$47.61 C$62.78 C$80.97 72
Growth Earnings
Growth-Adj P/E C$51.98 C$74.26 C$96.54 67

Widest divergence: Multiples (C$79.19) versus Asset-Based (C$14.31). Highest evidence: FCF DCF (78).

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Key figures & financial health

P/E ratio 23.1
P/S ratio 1.10 P/E × margin
EPS (TTM) C$3.90 price ÷ EPS = P/E 23.1
Dividend yield 1.3% payout 30.4%
Net margin 4.8% FY2025
Return on equity 18.6% TTM
More key figures
Profitability
Return on assets (EBIT) 10.7% avg 5y
Operating margin 8.1% TTM
Growth
Revenue (TTM) C$10.6B TTM
Revenue growth (YoY) +2.1% 3y avg +4.5%
EPS growth (YoY) +19.6%
Balance sheet & cash flow
Free cash flow C$480M FY2025
Net debt C$1.9B FY2025 · ≈ 4.0 yrs of FCF

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 64/100

Of which business quality 61 · Market factors (momentum, volatility) 58

Profitability 60
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 45
Earnings quality: real cash, not paper profit
Fin. Strength 53
Balance sheet, leverage, solvency risk
Investment 89
Disciplined investing over empire-building
Low Volatility 39
Calm price path (market factor)
Momentum 56
Price trend over the last 3–12 months (market factor)
52W Momentum 82
Distance to the 52-week high (market factor)
Net Issuance 100
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Finning International Inc. sells, services, and rents heavy equipment, engines, and related products in Canada, Chile, the United Kingdom, Argentina, and internationally.

Full company description

Finning International Inc. sells, services, and rents heavy equipment, engines, and related products in Canada, Chile, the United Kingdom, Argentina, and internationally. 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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

FTT.TO 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.

Growth Quality 78/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
C$10.6B
Latest YoY
−5.5%
Avg. revenue 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.
+4.5%
Avg. revenue growth/yr (5Y) 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.
+11.3%
Avg. revenue growth/yr (31Y) 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.
+6.6%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+22.0% (20.7 + 1.3)
Revenue +9.8%/yr
FY21 C$7.3B
FY22 C$9.3B
FY23 C$10.5B
FY24 C$11.2B
FY25 C$10.6B
Net income +8.6%/yr
FY21 C$364M
FY22 C$503M
FY23 C$523M
FY24 C$509M
FY25 C$506M
Character of growth · EPS growth decomposed (2014-2025) +14.0 % p.a.
Revenue per share +8.5 %

of which total revenue +6.2 % · buybacks/dilution +2.2 %

EBIT margin +2.9 %
Tax rate −0.5 %
Residual (interest, one-offs) +2.6 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

FTT screens 18% overvalued. Compare with W.W. Grainger, Inc →

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Cite: Fair Value Calculator (2026). "FTT.TO Fair Value". https://www.fairvalue-calculator.com/stock/FTT

Peer Group

Industrial Distribution · 112 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 64 · Above median
Fair Value upside −15% · Below median
Return on equity (TTM) 19% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 6% · Above median
Operating margin (TTM) 8% · Above median
Revenue growth 2% · Below median
Dividend yield (TTM) 1.3% · Below median
Debt / equity 0.43× · Higher than 75% of peers

Valuation Multiples vs Industrial Distribution median · lower = cheaper

P/E (TTM) 23.1× · Pricier than median
P/B 3.47× · Pricier than 75% of peers
P/S (TTM) 0.91× · Pricier than median
P/FCF 20.2× · Pricier than 75% of peers
EV/EBITDA 9.4× · Cheaper than median
PEG 0.49× · Cheaper than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE13 · sector 33
FUTURE11 · sector 18
PAST74 · sector 35
HEALTH79 · sector 91
DIVIDEND26 · sector 37

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 Industrial Distribution stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
W.W. Grainger, Inc GWW $1,306 $613.88 −53%
Fastenal Company FAST $51.14 $20.64 −60%
Ferguson Enterprises Inc FERG $245.18 $148.98 −39%
WESCO International, Inc WCC $347.60 $213.01 −39%
Watsco, Inc WSO $313.05 $251.37 −20%
Toromont Industries Ltd TIH C$199.59 C$127.90 −36%
Applied Industrial Technologies, Inc AIT $319.11 $191.65 −40%
Addtech AB ADDTB kr 344.00 kr 156.35 −55%
Core & Main, Inc CNM $45.45 $49.47 +9%
Indutrade AB INDT kr 249.60 kr 147.56 −41%

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Frequently asked questions

Is FTT.TO (FTT) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of C$76.38 versus a price of C$90.06, about −15% upside (overvalued).
What is the fair value of FTT?
Our model-based fair value for FTT.TO is C$76.38 (as of Aug 13, 2026), built from audited fundamentals. The current price: C$90.06.
What is the quality score of FTT?
FTT.TO 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 revenue of FTT.TO (FTT)?
FTT.TO reported trailing-twelve-month revenue of about C$10.6B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of FTT?
The net profit margin of FTT.TO is about 6.3%, meaning it keeps roughly 6.3% of revenue as net income. Based on the latest reported figures.
Does FTT.TO pay a dividend?
FTT.TO currently shows a dividend yield of about 1.31% relative to its recent price (as of Aug 13, 2026).
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