Olympia Financial Group Inc.
Gearing Up for Expansion Within Canada's Largest Market
Published: 5/14/2024
Author: FRC Analysts
Sector: Financial Services | Industry: Asset Management
Ticker Symbols:OLY.TO - TSX 🔹
Rating and Key Data
| Metrics | Value |
|---|---|
| Current Price | CAD $108.04 |
| Fair Value | CAD $134.83 |
| Risk | 3 |
| 52 Week Range | CAD $65-122 |
| Shares O/S (M) | 2.41 |
| Market Cap. (M) | CAD $260 |
| Current Yield (%) | 6.7 |
| P/E (forward) | 10.7 |
| P/B | 7.1 |
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Report Highlights
- OLY is up 19% since our initiating report in November 2023, and 5% since our previous update in March 2024.
- In Q1-2024, revenue was up 9% YoY amid higher interest rates, beating our estimate by 3%. EPS was up 10% YoY, but missed our estimate by 3% amid higher G&A expenses. Dividends remained flat QoQ, but increased 57% YoY to $1.80, aligning with our estimate.
- Client assets held by OLY were up 3% QoQ to $11.4B. We are raising our year-end estimate by 2% to $11.8B.
- In Q1-2024, 53% of revenue came from interest on unallocate
