Fiera Capital (TSX:FSZ) EBIT: C$100.4 Mil (TTM As of Mar. 2026)


TSX:FSZ Fiera Capital Corp TSX:FSZ
71 GF Score
Price C$5.15
GF Value C$6.43
Valuation Modestly Undervalued
! 8 Warning Signs
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What is Fiera Capital EBIT?

Fiera Capital TSX:FSZ -1.72% 71 EBIT is C$100.4 Mil as of Mar. 2026. GuruFocus rates TSX:FSZ with a GF Score™ of 71/100 and a GF Value™ of C$6.43 (Modestly Undervalued). The stock has 8 warning signs investors should review.

Fiera Capital's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was C$19.3 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was C$100.4 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Fiera Capital's annualized ROC % for the quarter that ended in Mar. 2026 was 5.89%. Fiera Capital's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 125.27%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Fiera Capital's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 7.66%.


Fiera Capital  (TSX:FSZ) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Fiera Capital's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=108.204 * ( 1 - 43% )/( (1048.98 + 1046.082)/ 2 )
=61.67628/1047.531
=5.89 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=1222.748 - 136.108 - ( 50.784 - max(0, 189.077 - 226.737+50.784))
=1048.98

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=1227.93 - 123.387 - ( 58.461 - max(0, 162.909 - 235.049+58.461))
=1046.082

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Fiera Capital's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=77.176/( ( (55.377 + max(-21.001, 0)) + (53.631 + max(14.211, 0)) )/ 2 )
=77.176/( ( 55.377 + 67.842 )/ 2 )
=77.176/61.6095
=125.27 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(145.335 + 0 + 13.543) - (136.108 + 6.572 + 37.199)
=-21.001

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(143.794 + 0 + 23.599) - (123.387 + 16.071 + 13.724)
=14.211

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Fiera Capital's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=100.362/1310.114
=7.66 %

* 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.


Fiera Capital EBIT Related Terms


Fiera Capital EBIT Historical Data

* Premium members only.

The historical data trend for Fiera Capital's EBIT 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.

Fiera Capital EBIT Chart

Fiera Capital Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 133.94 81.86 136.02 100.46 119.73

Fiera Capital Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 39.40 19.82 29.69 31.56 19.29

TSX:FSZ vs BLK, BX, KKR: EBIT Comparison

For the Asset Management subindustry, Fiera Capital's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT 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.


Fiera Capital EV-to-EBIT vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Fiera Capital's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Fiera Capital's EV-to-EBIT falls into.


TSX:FSZ
71GF Score
Fiera Capital Corp TSX:FSZ
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Fiera Capital EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was C$100.4 Mil.

* 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.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of C$100.4 Mil mean?
Fiera Capital (TSX:FSZ) has a EBIT of C$100.4 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Fiera Capital.
Is Fiera Capital's EBIT too high?
Fiera Capital's current EBIT is C$100.4 Mil. Overall, Fiera Capital has a GF Score™ of 71/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Fiera Capital's EBIT compare to BLK and BX?
Fiera Capital's EBIT of C$100.4 Mil can be compared against companies in the Asset Management industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for an Asset Management company?
A good EBIT depends on the Asset Management industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Fiera Capital. Fiera Capital's current EBIT is C$100.4 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fiera Capital stock overvalued right now?
Based on GuruFocus' analysis, Fiera Capital (TSX:FSZ) is currently considered Modestly Undervalued. The stock's GF Value™ is C$6.43, compared to a current price of C$5.15 — trading 19.9% below its estimated fair value. The current EBIT is C$100.4 Mil. Fiera Capital's overall GF Score™ is 71/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Fiera Capital (TSX:FSZ), the current EBIT is C$100.4 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Fiera Capital (TSX:FSZ) Overvalued in 2026?

Based on GuruFocus' analysis, Fiera Capital stock appears to be undervalued. The current stock price of C$5.15 is trading 19.9% below its estimated GF Value™ of C$6.43. GuruFocus considers Fiera Capital to be Modestly Undervalued.

Key valuation signals for TSX:FSZ:

  • EBIT: C$100.4 Mil
  • GF Value™: C$6.43 vs. price of C$5.15 (19.9% below fair value)
  • GF Score™: 71/100 with 8 warning signs

No single metric tells the full story. See the TSX:FSZ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Fiera Capital Business Description

Other Exchanges FRRPF:USAZFS:Germany
Address 1981 McGill College Avenue, Suite 1500, Montreal, QC, CAN, H3A 0H5
Fiera Capital Corp is an asset management firm that delivers customized and multi-asset solutions across public and private market asset classes to institutional, financial intermediary, and private wealth clients. The company's operating segment is asset management services. Its geographical segments are Canada, the United States of America, Europe, Middle East, & Africa, and Asia. The company derives the majority of its revenue from Canada.
71GF Score

Get the complete analysis for TSX:FSZ

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

C$5.15
Price
C$6.43
GF Value