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    Financial - Conglomerates
The Westaim Corporation

The Westaim Corporation

WED.V
The Westaim CorporationCA flagToronto Stock Exchange Ventures
22.67
CAD
-0.24
- -
752.36MMarket Cap
The Westaim Corporation
WED.V
(Toronto Stock Exchange Ventures)

Recent

price

22.67

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
158.33
1.31
0.14
0.17
3.94
1.02
-0.06
0.62
1.01
0.71
-1.15
1.33
1.09
9.17
1.83
2.17
2.55
Revenue per Share
31.72
18.09
47.03
-1.5
2.8
0.48
-0.35
0.23
0.7
0.36
-1.44
1.18
0.76
7.98
-0.75
-1.25
-1.92
Basic EPS, GAAP
-16.69
2.93
10.26
-1.52
-0.45
-0.11
-0.17
- -
-0.15
0.06
0.78
-0.22
-0.1
-0.13
-2.17
-0.42
0.9
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
-192.79
182.84
9.92
7.3
21.71
20.08
12.93
13.16
13.87
14.22
12.78
13.93
14.7
21.99
22.75
21.55
17.96
Book Value per Share
220
187.82
15.8
12.52
26.42
20.67
13.35
13.66
14.46
14.86
13.43
14.58
15.35
22.49
23.18
19.17
16.33
Tangible Book Value per Share
2
2
2
2
6
16
24
24
24
24
24
24
24
23
21
30
33
Basic Weighted Avg Shares
270
3
- -
- -
25
16
-1
15
24
17
-27
32
26
211
39
66
85
Sales/Revenue/Turnover
15.62
1,524.71
-10,930.82
-1,016.15
-23.94
-42.3
313.87
-37.24
-11.78
- -
- -
- -
- -
- -
- -
- -
- -
Operating Margin (%)
2
3
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
5
7
Depreciation Expense
54
39
104
-3
18
8
-8
6
17
9
-34
28
18
184
-16
-38
-64
Net Income, GAAP
- -
- -
- -
- -
- -
- -
- -
- -
- -
9.91
- -
0.78
- -
1.23
- -
- -
- -
Effective Tax Rate (%)
20.04
1,382.02
33,774.1
-881.24
71.14
47.68
558.59
37.79
69.57
50.52
125.21
88.99
69.96
87.08
-41.24
-57.37
-75.24
Profit Margin (%)
174
167
37
31
77
3
-2
-1
20
- -
- -
- -
- -
- -
- -
- -
- -
Working Capital
- -
- -
- -
- -
- -
- -
- -
- -
- -
1
1
- -
- -
- -
- -
7
8
LT Debt
377
409
35
29
167
326
319
326
345
355
321
348
363
518
497
658
619
Total Equity
- -
- -
- -
- -
-6.08
-2.75
- -
-1.71
-0.85
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
- -
22.99
3.36
- -
2.16
5.8
2.54
- -
8.84
- -
43.05
- -
- -
- -
Return on Capital (%)
- -
- -
49.78
-17.98
22.99
3.36
-2.65
1.79
5.21
2.54
-10.68
8.85
5.28
43.07
-3.25
-6.64
-11.84
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
33
33
33
Market Capitalization
608
547
571

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
413
283
241
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
8.29%
16.78%
32.26%
Free Cash Flow
-306.57%
235.91%
-72.67%
Net Income, GAAP
0.48%
146.43%
134.93%
Sales/Revenue/Turnover
-95.61%
95.19%
68.89%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
29
-3
11
2
39
2025
-5
34
18
19
66
2026
14
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.07
-0.8
-0.05
- -
-0.75
2025
-0.34
-0.01
-0.35
- -
-1.25
2026
-1
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
The Westaim Corporation (TSXV:WED) operates as a publicly listed Canadian investment company that provides long-term capital to businesses primarily within the global financial services industry, including annuity insurance and alternative asset management sectors; it invests directly and indirectly through acquisitions, joint ventures, and other arrangements in scalable platforms such as property and casualty insurance via Skyward Specialty Insurance Group, credit and alternative asset management through Arena Investors LP with approximately $3.5 billion in assets under management, and emerging annuity products from Ceres Life Insurance Company; revenue derives mainly from interest income, dividends, and investment returns targeting capital appreciation and wealth preservation for shareholders. Founded in 1996 and headquartered in Toronto, Ontario, with an additional office in New York, the company maintains geographic operations across the United States, Canada, Asia Pacific, Europe, and other regions, focusing on high-conviction partnerships with aligned management teams in financial services subsectors like diversified specialty insurance, institutional credit strategies, and tech-enabled life annuities. Recent strategic developments include a transformative 2024 partnership with CC Capital Partners to create an integrated insurance and asset management platform incorporating Ceres Life led by former Guardian Life CEO Deanna Mulligan; completion in February 2025 of the acquisition of ManhattanLife of America Insurance Company (MAIC), licensed in 46 U.S. states, via affiliates as part of this platform buildout; and a July 2025 commitment of approximately AUS$154 million (US$100 million) to finance CC Capital and One Investment Management's AUS$3.9 billion acquisition of Insignia Financial Ltd, Australia's leading diversified wealth manager with over AUS$330 billion in funds under management, furthering expansion into global wealth management.