Exchange Income Corporation

Exchange Income Corporation

EIFZF
Exchange Income CorporationUS flagOther OTC
86.47
USD
+0.27
- -
4.87BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
23.86
24.52
32.75
31.65
32.72
38.25
41.35
32.8
37.92
51.04
55.56
55.95
62.7
67.59
Basic EPS, GAAP
0.42
0.37
1.63
2.18
2.33
2.25
2.58
0.8
1.84
2.72
2.72
2.55
3.2
3.74
Free Cash Flow per Basic Share
-0.31
4.5
-1.93
-4.59
-4.61
-0.85
-1.16
3.24
0.15
-0.78
-3.39
-2.81
-1.57
-2.74
Dividend per Share
1.68
1.69
1.83
2
2.1
2.18
2.24
2.28
2.29
2.42
2.55
2.65
2.68
2.74
Book Value per Share
14.06
13.31
16.16
16.88
18.44
19.71
21.03
19.34
20.66
23.99
26.42
28.42
31.31
32.5
Tangible Book Value per Share
6.99
7.03
3.17
4.13
4.9
4.85
5.92
3.57
3.43
2.17
4.24
4.39
10.4
10.96
Basic Weighted Avg Shares
21
22
25
28
31
31
32
35
37
40
45
48
52
55
Sales/Revenue/Turnover
509
543
807
891
1,013
1,203
1,341
1,150
1,413
2,059
2,498
2,660
3,277
3,708
Operating Margin (%)
7.35
8.07
11.72
13.3
12.81
11.6
11.84
8.85
10.15
11.5
11.6
11.94
11.27
11.01
Depreciation Expense
48
54
85
94
119
138
170
183
186
220
266
310
385
431
Net Income, GAAP
9
8
40
61
72
71
84
28
69
110
122
121
168
205
Effective Tax Rate (%)
44.48
155.96
32.45
29.35
24.29
20.31
20.98
34.76
27.24
27.6
25.01
27.83
26.58
25.96
Profit Margin (%)
1.76
1.52
4.98
6.9
7.12
5.88
6.24
2.44
4.85
5.33
4.9
4.56
5.11
5.53
Working Capital
257
96
135
178
237
301
308
324
225
465
541
628
568
588
LT Debt
435
272
508
658
790
980
1,121
1,184
1,170
1,747
1,970
2,293
2,376
2,535
Total Equity
306
300
447
486
578
617
730
686
800
1,019
1,245
1,410
1,762
1,832
Return on Invested Capital (%)
3.25
-3.71
8.36
7.96
7.63
7.36
7.23
3.52
5.23
7
7.17
6.54
6.83
7.25
Return on Capital (%)
2.96
-0.57
7.92
7.89
7.79
7.4
7.48
3.25
5.35
6.81
7.01
6.31
6.66
7.24
Return on Common Equity (%)
2.99
2.73
10.78
13.18
13.57
11.85
12.42
3.96
9.23
12.06
10.8
9.13
10.58
12.51

Capital Structure

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
57
59
61
LT Borrowings
2,175
2,258
2,326
LT Finance Leases
202
197
209
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
56
56
56
Market Capitalization
4,713
5,886
7,398

Working Capital

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
1,373
1,430
1,519
Cash, Cash Equivalents & STI
146
121
82
Accounts Receivable, Net
602
592
650
Inventories
511
570
609
Total Current Liabilities
805
870
931
Payables & Accruals
577
623
654
ST Debt
57
59
61
Deferred Revenue
171
187
216

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
15.12%
20.89%
25.02%
Free Cash Flow
-68%
-84.06%
-38.36%
Net Income, GAAP
27.32%
50.64%
38.18%
Sales/Revenue/Turnover
15.97%
23.93%
23.22%
Total Cash Common Dividend
12.09%
11.88%
11.11%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
602
661
710
688
2,660
2025
668
720
960
930
3,277
2026
867
952
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.1
0.69
1.18
0.58
2.55
2025
0.14
0.78
1.32
- -
3.2
2026
0.5
1.01
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.66
0.66
0.66
0.66
2.65
2025
0.66
0.66
0.67
- -
2.68
2026
0.69
0.69
- -
- -
- -

Company Description

CEO
Michael C. Pyle
Full Time Employees
5,400
Sector
Industrials
Industry
Airlines, Airports & Air Services
Address
101-990 Lorimer Boulevard Winnipeg MB Canada R3P 0Z9
IPO Date
Feb 1, 2012
Business
Exchange Income Corporation (TSX: EIF; OTC: EIFZF) is a diversified, acquisition-oriented company focused on opportunities in the Aerospace & Aviation and Manufacturing segments. The company invests in profitable, well-established businesses operating in niche markets that generate steady cash flows and offer organic growth potential; it operates through 19 subsidiaries serving essential needs worldwide, including medevac and passenger services in remote northern communities, special mission aircraft solutions, and precision manufacturing for defense and infrastructure. Headquartered in Winnipeg, Manitoba, Canada, and founded in 2002, Exchange Income Corporation conducts operations across Canada, the United States, Europe, and other regions. In the Aerospace & Aviation segment, the company provides essential air services through fixed-wing and rotary-wing operations for medevac, passenger, charter, and freight transport; aerospace solutions encompassing mission systems design, aircraft modifications, intelligence, surveillance, and reconnaissance (ISR) services, software development, and in-service support primarily to governments; aircraft sales, leasing, engine parts sales, and management services, including flight training at two schools. The Manufacturing segment delivers environmental access solutions such as mats, bridges, planning, installation, and logistical support for temporary access; multi-storey window solutions including window walls, curtain walls, and railings for residential, retail, and office buildings; precision manufacturing and engineering of parts, portable hydronic climate control equipment, stainless steel tanks and vessels, electrical systems, and wireless/wireline construction services. Recent developments include the acquisition of Spartan in November 2024, enhancing aviation capabilities; the completion of the Canadian North acquisition on July 1, 2025, for $205 million, bolstering northern air services alongside a long-term Air Services Agreement with the Government of Nunavut; upsizing and extending the credit facility to $3.0 billion maturing April 30, 2029, in April 2025, providing over $1 billion in liquidity; redemption of Series J, K, and L convertible debentures in late 2024 and 2025, eliminating all outstanding convertibles by year-end and simplifying the capital structure; and a dividend increase to $2.76 per share annually announced in November 2025.

Company News

  • Exchange Income Corporation Announces Plan of Arrangement to Acquire TerraPro

  • Contrasting Flughafen Wien (OTCMKTS:VIAAY) and Exchange Income (OTCMKTS:EIFZF)

  • Exchange Income Corporation Announces August 2026 Dividend at Recently Increased Rate

  • Exchange Income Q2 Earnings Call Highlights

  • Exchange Income Corporation (EIF:CA) Q2 2026 Earnings Call Transcript

  • Exchange Income Corporation Announces July 2026 Dividend

  • Update on the Government of Nunavut Equity Option for a Minority Interest in Canadian North

  • EIC subsidiary PAL Aerospace Contracted by Air Greenland for DHC-8-200 Missionization Program

  • Exchange Income Corporation to Host Second Quarter Results Conference Call on August 12, 2026

  • Clean Vision Corporation Files Form 15 Notifying SEC of Suspension of Reporting Obligations Under Section 15(d) of the Securities Exchange Act of 1934

  • Exchange Income Corporation Announces June 2026 Dividend

  • Exchange Income Corporation Announces Voting Results for its 2026 Annual General and Special Meeting of Shareholders

  • Exchange Income Q1 Earnings Call Highlights

  • Exchange Income Corporation Announces May 2026 Dividend

  • Exchange Income Corporation (EIF:CA) Shareholder/Analyst Call Prepared Remarks Transcript

  • Keewatin Air LP Announces the Development and Certification of Exchange Income Corporation's New “TruSim” Simulator Facility in Winnipeg

  • Exchange Income Corporation Announces April 2026 Dividend and Amendments to its Dividend Reinvestment and Share Purchase Plan

  • Exchange Income Corporation to Host First Quarter Results Conference Call on May 12, 2026

  • Exchange Income Corporation Announces Renewal of Normal Course Issuer Bid for Common Shares

  • Exchange Income Corporation Announces March 2026 Dividend