The historical rank and industry rank for First National Financial's ROE % or its related term are showing as below:
TSX:FN'
s ROE % Range Over the Past 10 Years
Min: 25.58 Med: 33 Max: 42.18
Current: 28.1
During the past 13 years, First National Financial's highest ROE % was 42.18%. The lowest was 25.58%. And the median was 33.00%.
TSX:FN's ROE % is not ranked
in the Banks industry.
Industry Median: 10.22
vs TSX:FN: 28.10
First National Financial (TSX:FN) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
Note:
The net income data used here is four times the quarterly (Sep. 2025) net income data. The Revenue data used here is four times the quarterly (Sep. 2025) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* 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.
Be Aware
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.
* 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.
For the Mortgage Finance subindustry, First National Financial's ROE %, along with its competitors' market caps and ROE % 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.
First National Financial ROE % vs Banks Industry
For the Banks industry and Financial Services sector, First National Financial's ROE % distribution charts can be found below:
* The bar in red indicates where First National Financial's ROE % falls into.
* 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.
In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Sep. 2025) net income data.
ROE % is displayed in the 30-year financial page.
First National Financial (TSX:FN) has a ROE % of 30.29% as of Sep. 2025. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on First National Financial and its competitors. This is near median its historical median of 33.00. Over the past decade, First National Financial's ROE % has ranged from 25.58 to 42.18.
Is First National Financial's ROE % too high?
First National Financial's current ROE % of 30.29% is near median its 10-year median of 33.00. Over the past 10 years, this metric has ranged from a low of 25.58 to a high of 42.18. The Banks industry median ROE % is 10.22. First National Financial's value of 30.29% is 196.4% above this industry median. Overall, First National Financial has a GF Score™ of 19/100, reflecting its overall financial health beyond just this single metric.
How does First National Financial's ROE % compare to RKT and FNMA?
First National Financial's ROE % of 30.29% can be compared against companies in the Banks industry. The industry median ROE % is 10.22. First National Financial's value of 30.29% is 196.4% above this benchmark. Historically, First National Financial's own ROE % has ranged from 25.58 to 42.18 over the past decade. While the company's 10-year median is 33.00 vs. the industry median of 10.22, First National Financial has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROE % for a Banks company?
The median ROE % among Banks companies is 10.22, based on 1,524 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. First National Financial's current ROE % of 30.29% is 196.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on First National Financial and its competitors. For the Banks industry, the median ROE % is 10.22 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First National Financial's current ROE % is 30.29%, which is near median its own 10-year median of 33.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First National Financial stock overvalued right now?
First National Financial (TSX:FN) has a current ROE % of 30.29%. The stock's GF Value™ is C$59.71, compared to a current price of C$47.98 — trading 19.6% below its estimated fair value. The current ROE % is 30.29%, which is near median its 10-year median of 33.00 and 196.4% above the Banks industry median of 10.22. First National Financial's overall GF Score™ is 19/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For First National Financial (TSX:FN), the current ROE % is 30.29% as of Sep. 2025. 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 First National Financial (TSX:FN) Overvalued in 2026?
Based on GuruFocus' analysis, First National Financial stock appears to be undervalued.
The current stock price of C$47.98 is trading 19.6% below its estimated GF Value™ of C$59.71.
Key valuation signals for TSX:FN:
ROE %: 30.29% (near median its 10-year median of 33.00)
GF Value™: C$59.71 vs. price of C$47.98 (19.6% below fair value)
No single metric tells the full story. See the TSX:FN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
First National Financial Corp is a Canadian originator, underwriter and servicer of predominantly prime residential and commercial mortgages. The Company operates in two business segments, Residential and Commercial. These segments are organized by mortgage type and contain revenue and expenses related to origination, underwriting, securitization and servicing activities. It derives maximum revenue from Residential segment.
19GF Score
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