Olympia Financial Group Inc.
Posts Record Revenue & EPS / Poised for Another Strong Year
Published: 3/5/2024
Author: Sid Rajeev, B.Tech, CFA, MBA
Sector: Financial Services | Industry: Asset Management
| Metrics | Value |
|---|---|
| Current Price | US $102.6 |
| Fair Value | US $125.67 |
| Risk | N/A |
| 52 Week Range | US $65-122 |
| Shares O/S (M) | 2.41 |
| Market Cap. (M) | US $247 |
| Current Yield (%) | 7.0 |
| P/E (forward) | 9.9 |
| P/B | 7.0 |
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Report Highlights
Highlights
OLY is up 13% since our previous report in November 2023. OLY, through its wholly-owned subsidiary Olympia Trust Company, is Canada's premier trustee/custodian/administrator of self-directed registered investment accounts (such as RRSP/TFSA) for alternative assets.
In 2023, revenue was up 38% YoY amid higher interest rates, beating our estimate by 0.2%. EPS was up 69%, beating our estimate by 4.8%. Dividends increased 84% to $5.80/share, exactly in line with our estimate.
In 2023, 64% of revenue came from interest on unallocated client capital in cash accounts at major Canadian banks, up from 40% in 2022.
Despite the recent uptick in inflation, and downt
