Canada's Fiera Capital Q4 revenue misses analyst estimates

Fiera Capital

26/02/2026 12:38

Overview

Canada asset manager's Q4 revenue missed analyst expectations

Adjusted net earnings for Q4 rose significantly yr/yr, aided by lower SG&A expenses

Company reduced net debt ratio to 3.42x from 3.53x in Q3 2025

Outlook

Fiera Capital aims to accelerate growth through strategic priorities in 2026

Company sees strong demand for real assets driving private markets growth

Fiera Capital reports effective cost containment aiding EBITDA and margins

Result Drivers

AUM DECLINE - AUM decreased by $2.8 bln or 1.7% from Q3 2025, primarily due to negative net contributions of $3.5 bln, partly offset by favorable market impact

REVENUE GROWTH - Q4 revenue increased by $13 mln or 7.8% from Q3 2025, driven by higher performance fees and base management fees in Public Markets

COST CONTAINMENT - Lower SG&A expenses aided growth in adjusted EBITDA and net earnings, according to CFO Lucas Pontillo

Company press release: ID:nCNW96MS2a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Miss
C$180.06 mln
C$193.15 mln (4 Analysts)
Q4 Adjusted Net Income
C$29.89 mln
Q4 Net Income
C$7.67 mln
Q4 Adjusted EBITDA
C$54.67 mln
Q4 Adjusted EBITDA Margin
30.40%


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the investment management & fund operators peer group is "buy."

Wall Street's median 12-month price target for Fiera Capital Corp is C$7.00, about 17.6% above its February 25 closing price of C$5.95

The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 6 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)