CIXXF (CI Financial) Debt-to-EBITDA : 8.27 (As of Sep. 2024)

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What is CI Financial Debt-to-EBITDA?

Debt-to-EBITDA measures a company's ability to pay off its debt.

CI Financial's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Sep. 2024 was $277 Mil. CI Financial's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Sep. 2024 was $2,735 Mil. CI Financial's annualized EBITDA for the quarter that ended in Sep. 2024 was $364 Mil. CI Financial's annualized Debt-to-EBITDA for the quarter that ended in Sep. 2024 was 8.27.

A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.

The historical rank and industry rank for CI Financial's Debt-to-EBITDA or its related term are showing as below:

CIXXF' s Debt-to-EBITDA Range Over the Past 10 Years
Min: 0.41 Med: 1.86 Max: 8.13
Current: 8.13

During the past 13 years, the highest Debt-to-EBITDA Ratio of CI Financial was 8.13. The lowest was 0.41. And the median was 1.86.

CIXXF's Debt-to-EBITDA is ranked worse than
85.23% of 352 companies
in the Asset Management industry
Industry Median: 1.41 vs CIXXF: 8.13

CI Financial Debt-to-EBITDA Historical Data

The historical data trend for CI Financial's Debt-to-EBITDA can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

CI Financial Debt-to-EBITDA Chart

CI Financial Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Debt-to-EBITDA

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2.06

3.37

4.98

5.60

7.35

CI Financial Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Debt-to-EBITDA	Get a 7-Day Free Trial															8.00	16.13	-44.63	2.92	8.27

Competitive Comparison of CI Financial's Debt-to-EBITDA

For the Asset Management subindustry, CI Financial's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

CI Financial's Debt-to-EBITDA Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, CI Financial's Debt-to-EBITDA distribution charts can be found below:

* The bar in red indicates where CI Financial's Debt-to-EBITDA falls into.

CI Financial Debt-to-EBITDA Calculation

Debt-to-EBITDA measures a company's ability to pay off its debt.

CI Financial's Debt-to-EBITDA for the fiscal year that ended in Dec. 2023 is calculated as

Debt-to-EBITDA	=	Total Debt			/	EBITDA
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	EBITDA
	=	(339.021	+	2500.896)	/	386.384
	=	7.35

CI Financial's annualized Debt-to-EBITDA for the quarter that ended in Sep. 2024 is calculated as

Debt-to-EBITDA	=	Total Debt			/	EBITDA
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	EBITDA
	=	(277.282	+	2734.592)	/	364.28
	=	8.27

In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data, the EBITDA data used here is four times the quarterly (Sep. 2024) EBITDA data.

CI Financial (OTCPK:CIXXF) Debt-to-EBITDA Explanation

In the calculation of Debt-to-EBITDA, we use the total of Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation divided by EBITDA. In some calculations, Total Liabilities is used to for calculation.

Be Aware

A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.

According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.

CI Financial Debt-to-EBITDA Related Terms

Thank you for viewing the detailed overview of CI Financial's Debt-to-EBITDA provided by GuruFocus.com. Please click on the following links to see related term pages.

CI Financial Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » CI Financial Corp (OTCPK:CIXXF) » Definitions » Debt-to-EBITDA

Comparable Companies

Traded in Other Exchanges

CF7:Germany CIX:Canada

Address

15 York Street, 2nd Floor, Legal Department, Toronto, ON, CAN, M5J 0A3

Website

https://www.cifinancial.com

CI Financial is a provider of asset- and wealth-management products and services. The company has a decent share in the Canadian fund market (fifth behind Royal Bank of Canada, Toronto-Dominion, IGM Financial, and Fidelity at the end of last year) and remains the second-largest non-bank-affiliated asset manager in the Canadian market, with CAD 135.4 billion in assets under management (including CAD 36.0 billion in AUM managed for its CI Assante Wealth Management, CI Private Counsel, and Aligned Capital Partners subsidiaries) at the end of September. The firm also had CAD 350.7 billion in assets under advisement (including CAD 250.6 billion from its US wealth-management operations and CAD 100.1 billion from its Canadian wealth-management partners) and CAD 31.9 billion in custody assets.