Fact based stock research
First National Financial (TSX:FN)

CA33564P1036

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

First National Financial stock research in summary

firstnational.ca

ANALYSIS: With an Obermatt Combined Rank of 75 (better than 75% compared with investment alternatives), First National Financial (Thrifts & Mortgage Finance, Canada) shares have much better financial characteristics than comparable stocks. Shares of First National Financial are low in value (priced high) with a consolidated Value Rank of 49 (worse than 51% of alternatives) and show below-average growth (Growth Rank of 43) but are safely financed (Safety Rank of 78), which means low debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 75, is a strong buy recommendation based on First National Financial's financial characteristics. As the company First National Financial's critical financial metrics exhibit below-average performance, such as low value (Obermatt Value Rank of 49) and low growth (Obermatt Growth Rank of 43), it is a somewhat questionable stock investment, where the risk of paying too much for the shares is significant, unless the company has an exceptionally bright future. In this case, good financing practices (Obermatt Safety Rank of 78) are a positive sign, because it may allow the company to weather challenging times until the hoped-for cash flows materialize. This may be true for high-tech or biotechnology companies with enough cash to sustain prolonged business development. If they own properties that only provide cash flows in the future, the stock may look excessively expensive and unattractive today. In such cases, the Obermatt Method has limited value, as it is based on facts we can observe today. If the facts lie all in the future, stock investing becomes guesswork, and this should only be a driver in a limited number of investments that account for a small fraction of a safe portfolio. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	49
Growth Rank	43
Safety Rank	78
Combined Rank	75

Country	Canada
Industry	Thrifts & Mortgage Finance
Index
Size class	Large

5-Jun-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

Multiple opinions. One number.

Analysts rarely agree on a stock’s future. So, who do you believe? Obermatt translates those collective views into a single Sentiment Rank. That plus the financial ranks give you the ultimate 360° View. Sign up to access them.

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: First National Financial

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	53	65	47	49
GROWTH
GROWTH	35	53	19	43
SAFETY
SAFETY	21	21	78	78
SENTIMENT
SENTIMENT	25	47	33	^new
360° VIEW
360° VIEW	27	51	73	^new

Most recent update of the stock research: 5-Jun-2025. Financial reporting date used for calculating ranks: 30-Sep-2024. Stock research history is based on the Obermatt Method. The higher the rank, the better First National Financial is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	53	65	47	49
GROWTH
GROWTH	35	53	19	43
SAFETY
SAFETY	21	21	78	78
COMBINED
COMBINED	46	46	75	75

Last update of combined financial performance: 4-Jul-2024. Stock analysis on combined financial performance: The higher the rank of First National Financial the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 49 (worse than 51% compared with alternatives), First National Financial shares are more expensive than the average comparable stock. The Value Rank is based on consolidating four value indicators, with three out of four indicators above average for First National Financial. Price-to-Sales (P/S) is 59, which means that the stock price compared with what market professionals expect for future sales is lower than for 59% of comparable companies, indicating a good value concerning First National Financial's revenue size. The same is valid for expected Price-to-Profits (or Price / Earnings, P/E), more favorable than for 55% of alternatives. It is also positive for expected dividend yields with a Dividend Yield rank of 92 (dividends are expected to be higher than 92% of other stocks). But, compared with other companies in the same industry, the Price-to-Book Capital ratio (also referred to as market-to-book ratio) is higher than average, making the stock more expensive. Only 90% of all competitors have an even higher price compared with book capital which puts the Price-to-Capital Rank for First National Financial to 10. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 49, is a hold recommendation based on First National Financial's stock price compared with the company's operational size and dividend yields. A low level of book capital means that the company has a business that is leaner in assets than its competitors. For instance, the company could be leasing its production facilities or be more focussed on intellectual property, such as its brand and software, which is less visible in its book capital. If that is the case, the three good value ranks for Sales, Profits, and Dividends are reliable indicators for the stock price value. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	55	53	56	59
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	50	71	51	55
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	5	11	10	10
DIVIDEND YIELD
DIVIDEND YIELD	93	94	93	92
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	53	65	47	49

Last update of Value Rank: 5-Jun-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of First National Financial; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 43 (better than 43% compared with alternatives), First National Financial shows a below-average growth dynamic in its industry. There is limited momentum in this company. The Growth Rank is based on consolidating four value indicators, with three out of four indicators below-average for First National Financial. While Sales Growth ranks at 66, professionals currently expect the company to grow more than 66% of its competitors, while all other growth ranks are below the market median. Profit Growth has a rank of 29, which means that, currently, professionals expect the company to grow its profits less than 71% of its competitors, and Capital Growth has a low rank of 43. Historic stock returns were also below average with a current Stock Returns rank of 46 which means that the stock returns have recently been below 54% of alternative investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 43, is a hold recommendation for growth and momentum investors. If revenues are expected to increase, but all other growth indicators are negative, the company may be investing in future growth through means not visible in the balance sheet and thus not reflected in capital growth. The fact that Stock Returns have been below market doesn't mean that much, as it may be due to overly optimistic investor behavior in the past, which has been corrected to a more reasonable level recently. If that were the case, a positive Value Rank would be a reason to invest because the company is still expected to grow, while stock prices are now at a more reasonable level. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance isn't stellar here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	36	30	57	66
PROFIT GROWTH
PROFIT GROWTH	40	87	11	29
CAPITAL GROWTH
CAPITAL GROWTH	45	51	34	43
STOCK RETURNS
STOCK RETURNS	37	51	25	46
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	35	53	19	43

Last update of Growth Rank: 5-Jun-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of First National Financial.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 78 (better than 78% compared with alternatives) for 2024, the company First National Financial has safe financing practices, which means that their overall debt burden is low. This doesn't mean that the business of First National Financial is safe, it only means that the company is on the safer side regarding possible bankruptcy, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with just one indicator above average for First National Financial. Liquidity is at 91, meaning the company generates more profit to service its debt than 91% of its competitors. This indicates that the company is safer when it comes to debt service. But Refinancing is riskier at a rank of 4, which means that the portion of the debt that is about to be refinanced is above average. It has more debt in the refinancing stage than 96% of its competitors. Leverage is also high at a rank of 5, which means that the company has an above-average debt-to-equity ratio. It has more debt than 95% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 78 (better than 78% compared with alternatives), First National Financial has a financing structure that is significantly safer than that of its competitors. High Leverage (a low Obermatt Leverage Rank) is good in good times, because it usually indicates that shareholders get higher returns. The good Liquidity performance of the company is an indicator that this is the case. However, if you expect an economic downturn, you may stay clear of this stock because they have an above-average debt level that needs refinancing soon. If the company is sailing with good winds, as may be visible from the Growth and Sentiment performance, the refinancing risk may be lower than the low Refinancing rank suggests. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	10	10	5	5
REFINANCING
REFINANCING	83	79	81	4
LIQUIDITY
LIQUIDITY	10	10	91	91
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	21	21	78	78

Last update of Safety Rank: 4-Jul-2024. Stock analysis on safety metrics: The higher the rank, the lower the leverage of First National Financial and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	40	40	^new
OPINIONS CHANGE
OPINIONS CHANGE	23	50	68	^new
PRO HOLDINGS
PRO HOLDINGS	65	65	31	^new
MARKET PULSE
MARKET PULSE	30	17	16	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	25	47	33	^new

Last update of Sentiment Rank: 5-Jun-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for First National Financial.
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