Olympia Financial Group Inc.
Navigating Rate Pressures with Core Service Revenue Growth
Published: 11/20/2024
Author: FRC Analysts
Sector: Financial Services | Industry: Asset Management
Ticker Symbols:OLY.TO - TSX 🔹
Rating and Key Data
| Metrics | Value |
|---|---|
| Current Price | CAD $106.5 |
| Fair Value | CAD $135.19 |
| Risk | 3 |
| 52 Week Range | CAD $88-122 |
| Shares O/S (M) | 2.41 |
| Market Cap. (M) | CAD $256 |
| Current Yield (%) | 6.8 |
| P/E (forward) | 12.0 |
| P/B | 6.4 |
Already a subscriber?
Want to know the fair value of the stock?
Subscribe for free to get exclusive insights and data.
Report Highlights
In Q3-2024, client assets were up 1.6% QoQ to $11.7B. However, revenue was down 1% YoY, falling 2% short of our estimate, primarily due to lower trading volumes in the FOREX division, a historically volatile, non-core segment, contributing 5-10% of total revenue.
On a positive note, total services revenue from core divisions (Investment Account Services and Health Service Plans) was up 1% YoY, driven by higher transaction volumes.
EPS was up 1% YoY,
