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Last update at 2025-03-11T19:33:00Z
Definity Financial Full Year 2024 Earnings: Revenues Beat Expectations, EPS Lags
Sat 15 Feb 25, 12:17 PMDefinity Financial Corporation Reports Fourth Quarter and Full Year 2024 Results
Thu 13 Feb 25, 10:01 PMDEFINITY FINANCIAL CORPORATION ANNOUNCES LARGEST CHARITABLE GIVING YEAR IN 150+ YEAR HISTORY
Tue 03 Dec 24, 12:55 PMDefinity Financial Corporation Reports Third Quarter 2024 Results
Thu 07 Nov 24, 10:11 PM| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Income before tax | 305.20M | 281.20M | 200.60M | 21.20M | -117.50000M |
| Minority interest | -0.60000M | - | - | - | - |
| Net income | 252.00M | 213.20M | 153.90M | 17.40M | -73.00000M |
| Selling general administrative | 640.80M | 533.40M | 472.70M | 447.50M | 461.70M |
| Selling and marketing expenses | - | - | - | - | - |
| Gross profit | 3247.70M | 2917.80M | 2696.30M | - | - |
| Reconciled depreciation | 4.90M | - | - | - | - |
| Ebit | 304.60M | 281.20M | 200.60M | 20.40M | -100.20000M |
| Ebitda | 309.50M | 281.20M | 200.60M | - | - |
| Depreciation and amortization | 4.90M | - | - | - | - |
| Non operating income net other | - | - | - | - | - |
| Operating income | 304.60M | 281.20M | 200.60M | 27.20M | -117.10000M |
| Other operating expenses | 2942.50M | 2636.60M | 2495.70M | 92.20M | 81.10M |
| Interest expense | - | 0.00000M | 0.00000M | 0.00000M | 0.00000M |
| Tax provision | 52.60M | 68.00M | 46.70M | 3.80M | -44.50000M |
| Interest income | 138.70M | 102.20M | 104.40M | - | - |
| Net interest income | - | - | - | - | - |
| Extraordinary items | - | - | - | - | - |
| Non recurring | - | - | - | - | - |
| Other items | - | - | - | - | - |
| Income tax expense | 52.60M | 68.00M | 46.70M | 3.80M | -44.50000M |
| Total revenue | 3247.70M | 2917.80M | 2696.30M | 2527.00M | 2421.50M |
| Total operating expenses | 2942.50M | 2636.60M | 2495.70M | - | - |
| Cost of revenue | - | - | - | - | - |
| Total other income expense net | 0.60M | 8.20M | 7.50M | - | - |
| Discontinued operations | - | - | - | - | - |
| Net income from continuing ops | 252.60M | 213.20M | 153.90M | - | - |
| Net income applicable to common shares | 252.60M | 213.20M | 153.90M | 17.40M | -73.00000M |
| Preferred stock and other adjustments | - | - | - | - | - |
| Breakdown | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 6929.10M | 8316.80M | 7891.40M | 6620.30M | 5956.50M |
| Intangible assets | 657.50M | 433.60M | 173.60M | 165.50M | 164.80M |
| Earning assets | - | - | - | - | - |
| Other current assets | 649.20M | 584.50M | 311.30M | 112.40M | 113.90M |
| Total liab | 3922.20M | 5836.40M | 5495.10M | 4802.30M | 4345.50M |
| Total stockholder equity | 2847.70M | 2371.90M | 2396.30M | 1818.00M | 1611.00M |
| Deferred long term liab | - | - | - | - | - |
| Other current liab | 3694.80M | -244.50000M | -231.60000M | -170.30000M | 1296.70M |
| Common stock | 2273.00M | 2254.20M | 2307.80M | - | - |
| Capital stock | 2273.00M | 2254.20M | 2307.80M | 0.00000M | - |
| Retained earnings | 561.30M | 179.30M | -28.80000M | 1755.90M | 1608.60M |
| Other liab | - | 398.20M | 144.70M | 48.30M | 45.60M |
| Good will | 572.40M | 338.00M | 46.10M | 46.10M | 46.10M |
| Other assets | - | -1770.60000M | -2473.40000M | -1914.70000M | 155.50M |
| Cash | 441.50M | 200.50M | 387.30M | 510.30M | 322.80M |
| Cash and equivalents | - | 99.50M | 224.80M | 510.30M | 94.70M |
| Total current liabilities | 3704.10M | 244.50M | 231.60M | 170.30M | 4273.40M |
| Current deferred revenue | - | - | - | - | - |
| Net debt | -291.60000M | -129.70000M | -368.40000M | -488.60000M | - |
| Short term debt | 9.30M | 3.40M | 0.00000M | 0.00000M | 0.00000M |
| Short long term debt | 114.30M | 3.40M | - | - | - |
| Short long term debt total | 149.90M | 70.80M | 18.90M | 21.70M | 26.50M |
| Other stockholder equity | 40.40M | -101.80000M | 98.00M | 62.10M | 2.40M |
| Property plant equipment | - | 83.80M | 57.00M | 56.90M | 61.10M |
| Total current assets | 649.20M | 4309.40M | 4669.50M | 3856.00M | 1303.10M |
| Long term investments | 4983.30M | 4922.60M | 5418.60M | 4410.50M | - |
| Net tangible assets | - | 1600.30M | 2176.60M | 1606.40M | 1400.10M |
| Short term investments | 137.00M | 2790.70M | 3202.00M | 2394.90M | - |
| Net receivables | 328.60M | 1318.20M | 1080.20M | 950.80M | 853.70M |
| Long term debt | 114.30M | 35.70M | - | - | - |
| Inventory | -709.80000M | - | - | - | - |
| Accounts payable | - | 241.10M | 231.60M | 170.30M | 2906.10M |
| Total permanent equity | - | - | - | - | - |
| Noncontrolling interest in consolidated entity | - | - | - | - | - |
| Temporary equity redeemable noncontrolling interests | - | - | - | - | - |
| Accumulated other comprehensive income | -27.00000M | -61.60000M | 117.30M | 62.10M | - |
| Additional paid in capital | - | - | - | - | - |
| Common stock total equity | - | - | - | - | - |
| Preferred stock total equity | - | - | - | - | - |
| Retained earnings total equity | - | - | - | - | - |
| Treasury stock | - | - | - | - | - |
| Accumulated amortization | - | - | - | - | - |
| Non currrent assets other | 4641.30M | -5778.00000M | -5695.30000M | -4679.00000M | - |
| Deferred long term asset charges | - | - | - | - | - |
| Non current assets total | 6279.90M | 5778.00M | 5695.30M | 4679.00M | - |
| Capital lease obligations | 35.60M | 31.70M | 18.90M | 21.70M | - |
| Long term debt total | - | 31.70M | 18.90M | 21.70M | 26.50M |
| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Investments | -374.70000M | -1008.10000M | -47.00000M | -204.50000M | -38.90000M |
| Change to liabilities | 0.00000M | 0.00000M | 0.00000M | 0.00000M | 0.00000M |
| Total cashflows from investing activities | -374.70000M | -1044.20000M | -74.60000M | -179.10000M | -75.70000M |
| Net borrowings | -1.00000M | -1.00000M | -1.00000M | -1.00000M | - |
| Total cash from financing activities | 73.40M | 376.80M | 376.80M | 376.80M | 376.80M |
| Change to operating activities | - | - | - | - | - |
| Net income | 252.00M | 213.20M | 153.90M | 17.40M | -73.00000M |
| Change in cash | 4.50M | -12.20000M | 415.60M | -40.60000M | -31.10000M |
| Begin period cash flow | 498.10M | 510.30M | 94.70M | - | - |
| End period cash flow | 502.60M | 498.10M | 510.30M | 94.70M | - |
| Total cash from operating activities | 256.90M | 213.20M | 490.20M | 138.50M | 44.60M |
| Issuance of capital stock | 0.00000M | - | - | - | - |
| Depreciation | 4.90M | 11.10M | 12.60M | 12.90M | 12.90M |
| Other cashflows from investing activities | -283.90000M | -49.40000M | -42.80000M | -23.30000M | -49.50000M |
| Dividends paid | 63.30M | 1908.90M | 1908.90M | 1908.90M | 1908.90M |
| Change to inventory | - | - | - | - | - |
| Change to account receivables | - | - | - | - | - |
| Sale purchase of stock | -53.60000M | 2285.70M | - | - | - |
| Other cashflows from financing activities | 191.30M | 376.80M | -74.60000M | 191.30M | - |
| Change to netincome | -19.20000M | 387.50M | 284.50M | 75.70M | 117.60M |
| Capital expenditures | 90.80M | 49.40M | 42.80M | 23.30M | 49.50M |
| Change receivables | - | - | - | - | - |
| Cash flows other operating | - | - | - | - | - |
| Exchange rate changes | - | - | - | - | - |
| Cash and cash equivalents changes | - | - | - | - | - |
| Change in working capital | -937.30000M | -741.60000M | -577.50000M | -577.20000M | -689.20000M |
| Stock based compensation | - | - | - | - | - |
| Other non cash items | -256.90000M | -213.20000M | - | - | - |
| Free cash flow | 256.90M | 213.20M | 490.20M | - | - |
Sector: Financial Services Industry: Insurance - Property & Casualty
| Company | Change (CAD) | Price (CAD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) |
|---|---|---|---|---|---|---|---|
| DFY Definity Financial Corp |
0.23 0.38% | 61.10 | 11.84 | 17.30 | 1.44 | 2.03 | 1.34 |
| IFC Intact Financial Corporation |
-1.91 0.67% | 282.47 | 23.14 | 16.64 | 1.57 | 2.94 | 2.17 |
| FFH Fairfax Financial Holdings Ltd |
-5.38 0.27% | 1958.99 | 8.20 | 8.81 | 1.24 | 1.34 | 1.15 |
Definity Financial Corporation, together with its subsidiaries, offers property and casualty insurance products in Canada. It provides personal insurance products, including auto, property, general and umbrella liability, and pet insurance products to individuals under the Economical, Sonnet, Family, Petsecure, and Peppermint brands; and commercial insurance products, which include fleet, commercial auto, property, liability, and specialty insurance products to businesses under the Definity Insurance and Economical brand name. The company distributes its products on a primarily intermediated basis, and through brokers, as well as directly to customers. It markets its commercial insurance products to small businesses and mid-market companies, as well as various targeted segments. The company was formerly known as Economical Holdings Corporation and changed its name to Definity Financial Corporation in August 2021. Definity Financial Corporation was founded in 1871 and is headquartered in Waterloo, Canada.
111 Westmount Road South, Waterloo, ON, Canada, N2L 2L6
| Name | Title | Year Born |
|---|---|---|
| Mr. Rowan Saunders | CEO, Pres & Director | 1964 |
| Mr. Philip Mather B.Sc., B.Sc. (Hons), C.A., CA | Exec. VP & CFO | 1975 |
| Mr. Innes Fraser Dey B.Sc. (Hons), LL.B | Sr. Vice-Pres of Legal & Strategy | 1969 |
| Mr. Fabian Richenberger | Exec. Vice-Pres of Commercial Insurance | 1967 |
| Mr. Paul MacDonald | Exec. VP of Personal Insurance | 1974 |
| Ms. Tatjana Lalkovic | Sr. VP & Chief Information Officer | 1968 |
| Mr. Dennis Westfall MBA | Head of Investor Relations | NA |
| Ms. Brigid V. Pelino | Sr. VP & Chief HR Officer | 1964 |
| Mr. Roger Dunbar | Sr. Vice-Pres of Sonnet | 1963 |
| Mr. Liam McFarlane | Chief Risk & Actuarial Officer | 1963 |
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