Reading the tape
TSX: GSY.TO
goeasy Ltd.
Financial Services · Financial - Credit Services
Market Cap
CA$507.44M
52w High
CA$216.50
52w Low
CA$30.67
P/E
-2.93
Volume
91.62K
Outstanding Shares
16.03M
Price vs Fundamentals
Why The Stock Is Moving
Likely multiple compressionModerate confidence
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
1Y Price: -77.49%Revenue (TTM): 11.39%FCF (TTM): 17.26%P/E: 0th pct
What changed
The stock fell 77.49% over the last year. Revenue grew 11.39% over the trailing twelve months. Operating margin moved from 40.02% to 55.25%. Free cash flow grew 17.26% over the trailing twelve months.
What the market seems to be pricing
Visible fundamentals weakened far less than the stock price, and the shares now sit around the 0th percentile of their historical P/E range. That looks more like a rerating of the multiple than a collapse in the business.
What would invalidate this read
This read changes if operating margin (currently 55.25%) continues to decline, or if revenue growth turns negative. The bull case requires the business to hold its current trajectory.
Company profile
goeasy Ltd. provides non-prime leasing and lending services to consumers in Canada.
CEOPatrick Ens
SectorFinancial Services
IndustryFinancial - Credit Services
Employees2,600
IPO dateAug 13, 1996
Valuation
Forward P/E—
EV/EBITDA6.57
Enterprise value$6.7B
Price / Book0.60
Stock splits
May 25, 2005↑ Forward
Every 2 shares became 3
Aug 6, 2002↓ Reverse
Every 10 shares became 1
Jan 5, 2001↑ Forward
Every 61 shares became 62
Profitability & growth
Standard profitability metrics can be misleading for financial/insurance companies. GAAP requires unrealized investment gains/losses in net income (affecting ROE), and margins are blended across diverse business segments.
Revenue growth10.17%
Gross margin68.9%▼0.01%vs FY2024
Operating margin55.25%▲38.04%vs FY2024
ROE-20.97%▼188.98%vs FY2024
Analyst consensus
Rating—
Target price—
⚠ Analyst ratings tend to be lagging indicators — upgrades often follow price gains rather than precede them. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
May 7, 2026
Q3 FY26 · EPS est -$1.21 · Revenue est $407.15M
View
Dividends
$5.84/shareQuarterlyDividend Achiever · 21yrAt RiskGSY.TO pays a dividend with a 18.45% dividend yield, 21 consecutive years of growth, growing at 26.54% annually, covered -10.0× by free cash flow.
Dividend Yield
18.45%
Annual Div / Share
$5.84
5yr CAGR
+26.54%
Doubles every ~2.9yr
Payout Ratio
—
At Risk
Dividend Growth Rate
3yr CAGR
+17.07%
5yr CAGR
+26.54%
10yr CAGR
+30.75%
Dividend Safety
0/10At Risk
Dividend History
Annualized dividend cycles per share
YearAnnual DivYoY
2025$5.84+24.8%
2024$4.68+21.9%
2023$3.84+5.5%
2022$3.64+37.9%
2021$2.64+46.7%
2020$1.80+45.2%
2019$1.24+37.8%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$185/yr
$15/mo
In 5 yrs
$325/yr+76%
$27/mo
In 10 yrs
$573/yr+211%
$48/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$185/yr $15/mo | $325/yr+76% $27/mo | $573/yr+211% $48/mo |
Long-range projections use a capped 12% annual growth assumption.
Yield-on-cost grows from 18.45% → 57.31% over 10yr
Analysis
Dividend Strengths
Dividend Achiever
GSY.TO has raised its dividend for 21 consecutive years — qualifying as a Dividend Achiever, demonstrating long-term commitment to shareholder income.
Strong dividend growth rate
The 5-year CAGR of 26.54% meaningfully outpaces inflation, compounding real income growth for long-term holders.
Risks to Watch
Dividend exceeds free cash flow
Free cash flow covers only -10.04× the dividend. The company is paying out more than it generates in cash, which is unsustainable without borrowing or asset sales.