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North American Financial 15 Split Corp. is an equity mutual fund launched by Quadravest Inc. It is managed by Quadravest Capital Management Inc. The fund invests in public equity markets of United States and Canada. It invests in high quality portfolio of preferred shares and Class A shares of 15 financial services companies. The fund employs investment strategy along with fundamental based equity investing with covered call writing to create its portfolio. It was formerly known as Financial 15 Split Corp. II. North American Financial 15 Split Corp. was formed on October 15, 2004 and is domiciled in Canada.
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.
Public information on North American Financial 15 (FFN.TO) is limited; it appears to be an investment vehicle focused on a concentrated portfolio of North American financial-sector equities. Long-term growth drivers may include earnings and dividend growth among underlying financial companies and sensitivity to interest-rate trends, and investors may find the vehicle's sector exposure and yield potential attractive for income-oriented portfolios.
Most important risks are concentrated exposure to the financial sector, creating sensitivity to interest-rate cycles, credit deterioration and regulatory changes.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-11-30 | 2024-11-30 | 2023-11-30 | 2022-11-30 | 2021-11-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-11-30 | 2024-11-30 | 2023-11-30 | 2022-11-30 | 2021-11-30 |
| Income before tax | 171.58M | 356.19M | -70.43M | -7.28M | 87.31M |
| Net income | 171.58M | 356.19M | -27.28M | -7.28M | 87.31M |
| Selling general administrative | 0.77M | 0.84M | 0.76M | 3.26M | 1.42M |
| Gross profit | 50.02M | 359.65M | -18.33M | 17.95M | 89.90M |
| Ebit | - | - | -27.28M | -6.96M | -196.46M |
| Ebitda | 220.03M | - | -27.46M | - | 87.31M |
| Depreciation and amortization | - | - | -0.19M | - | 189.18M |
| Operating income | 220.90M | 356.19M | -27.28M | 14.48M | 87.31M |
| Other operating expenses | 162.48M | 7.03M | 9.02M | 2.49M | 2.59M |
| Interest expense | 48.45M | - | - | - | 94.59M |
| Interest income | 2.90M | 3.07M | 3.22M | 21.77M | 82.05M |
| Net interest income | 2.90M | 3.07M | 3.22M | 0.94M | 0.00M |
| Income tax expense | - | - | -43.15M | - | -94.59M |
| Total revenue | 58.42M | 364.04M | -18.33M | 23.57M | 89.90M |
| Total operating expenses | -170.88M | 7.03M | 6.04M | - | 2.59M |
| Cost of revenue | 8.41M | 4.39M | 6.10M | 5.62M | 3.24M |
| Total other income expense net | -49.32M | -51.26M | -43.15M | - | 189.18M |
| Net income from continuing ops | 220.03M | 356.19M | -27.28M | -7.28M | 87.31M |
| Net income applicable to common shares | - | 305.75M | -70.43M | -46.01M | 66.72M |
| Breakdown | 2025-11-30 | 2024-11-30 | 2023-11-30 | 2022-11-30 | 2021-11-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-11-30 | 2024-11-30 | 2023-11-30 | 2022-11-30 | 2021-11-30 |
| Total assets | 1204.34M | 1092.54M | 726.79M | 812.44M | 595.69M |
| Other current assets | - | - | 17.54M | 0.05M | - |
| Total liab | 613.07M | 610.93M | 3.91M | 536.32M | 6.79M |
| Total stockholder equity | 591.27M | 481.62M | 200.55M | 276.12M | 231.47M |
| Other current liab | - | - | -3.91M | -10.81M | -6.79M |
| Common stock | - | - | 200.55M | 0.00M | 231.47M |
| Other liab | - | - | - | 0.00M | 0.00M |
| Cash | 92.25M | 109.03M | 44.72M | 90.59M | 57.60M |
| Total current liabilities | 599.14M | 12.16M | 3.91M | 10.81M | 6.79M |
| Current deferred revenue | - | - | -516.37M | - | - |
| Net debt | 506.90M | -109.03M | 475.57M | -90.59M | -57.60M |
| Short term debt | 599.14M | - | 520.29M | 0.00M | 0.00M |
| Short long term debt total | 599.14M | - | 520.29M | - | - |
| Other stockholder equity | 591.27M | 481.62M | - | - | - |
| Total current assets | 1204.34M | 110.56M | 64.47M | 92.24M | 58.29M |
| Long term investments | 1110.48M | 981.99M | 662.32M | 720.20M | 537.40M |
| Net tangible assets | - | - | - | 276.12M | 231.47M |
| Short term investments | 1110.48M | - | 662.32M | - | - |
| Net receivables | 1.61M | 1.52M | 19.75M | 1.65M | 0.70M |
| Long term debt | - | - | - | 522.81M | 357.10M |
| Inventory | - | - | -17.54M | - | - |
| Accounts payable | 12.34M | 12.16M | 3.91M | 10.81M | 6.79M |
| Non currrent assets other | - | - | -662.32M | -720.20M | -537.40M |
| Non current assets total | - | 981.99M | 662.32M | 720.20M | 537.40M |
| Long term debt total | - | - | - | 522.81M | 357.10M |
| Breakdown | 2025-11-30 | 2024-11-30 | 2023-11-30 | 2022-11-30 | 2021-11-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-11-30 | 2024-11-30 | 2023-11-30 | 2022-11-30 | 2021-11-30 |
| Change to liabilities | - | - | - | 0.00M | 0.00M |
| Total cash from financing activities | -108.98M | 10.43M | -56.32M | 220.45M | 276.14M |
| Change to operating activities | - | - | - | -0.13M | 0.53M |
| Net income | 171.58M | 305.75M | -70.43M | -46.01M | 66.72M |
| Change in cash | -16.79M | 64.32M | -45.88M | 33.00M | 35.00M |
| Begin period cash flow | 109.03M | 44.72M | 90.59M | 57.60M | 22.59M |
| End period cash flow | 92.25M | 109.03M | 44.72M | 90.59M | 57.60M |
| Total cash from operating activities | 22.83M | 52.27M | 10.36M | -187.39M | -241.64M |
| Issuance of capital stock | 111.28M | 117.76M | 44.30M | 322.80M | 331.64M |
| Other cashflows from investing activities | - | - | -0.00M | - | - |
| Dividends paid | 131.91M | -105.71M | -59.49M | 62.89M | 46.12M |
| Change to account receivables | -0.09M | 0.69M | -0.62M | -0.90M | -0.36M |
| Sale purchase of stock | -87.10M | -0.44M | -40.80M | -31.14M | 331.64M |
| Other cashflows from financing activities | - | -0.78M | -0.33M | -8.32M | -9.38M |
| Change to netincome | - | - | - | -144.92M | -313.80M |
| Capital expenditures | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Change in working capital | -0.02M | 0.96M | -0.67M | -1.03M | 0.17M |
| Other non cash items | -148.73M | -254.43M | 81.45M | -140.35M | -308.53M |
| Free cash flow | 22.83M | 52.27M | 10.36M | -187.39M | -241.64M |
Sector: Financial Services Industry: Asset Management
|
Stock Name
|
Change
(CAD) |
Price
(CAD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
|---|---|---|---|---|---|---|---|
| FFN North American Financial 15 |
0.23 2.54% |
9.29 | 3.17 | - | 2.46 | 0.98 | 2.28 |
| BLK BlackRock CDR (CAD Hedged) |
1.70 5.77% |
31.14 | 25.23 | 18.90 | 6.38 | 2.79 | 6.35 |
| BN Brookfield Corporation |
3.35 5.89% |
60.20 | 94.76 | 11.96 | 1.84 | 2.36 | 4.58 |
| BAM Brookfield Asset Management Ltd |
4.01 5.62% |
75.33 | 31.22 | 25.51 | 22.40 | 9.70 | 17.61 |
| PHYS Sprott Physical Gold Trust |
1.14 2.74% |
42.73 | 3.81 | - | 3.47 | 1.06 | 4.09 |
North American Financial 15 Split Corp. is an equity mutual fund launched by Quadravest Inc. It is managed by Quadravest Capital Management Inc. The fund invests in public equity markets of United States and Canada. It invests in high quality portfolio of preferred shares and Class A shares of 15 financial services companies. The fund employs investment strategy along with fundamental based equity investing with covered call writing to create its portfolio. It was formerly known as Financial 15 Split Corp. II. North American Financial 15 Split Corp. was formed on October 15, 2004 and is domiciled in Canada.
200 Front Street West, Toronto, ON, Canada, M5V 3K2
416-304-4440
Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.
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