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Canadian holding company owning Empire Life Insurance and a large public/private equity investment portfolio.
Canadian holding company owning Empire Life Insurance and a large public/private equity investment portfolio.
In one line: An insurance/investment holding company like a smaller Loews Corporation.
Moat: narrow (regulatory licence, scale). Insurance licence and long-standing investment portfolio give stable capital base, though it is a smaller niche insurer.
Headquarters: Toronto, Canada · Founded: 1900 · Employees: 21
Size E-L Financial (ELF.TO) is a Canada Financials company (Life/Health Insurance) with a market value of $4.74B, the 127th largest of 420 Canada companies the cockpit tracks. Shares closed at C$19.24 on 6 Nov 2026.
Performance Over six months the shares gained 9.8%, against +8.4% for the median peer and +5.2% for the Canada market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue grew 31.8% over the last twelve months (peer median +13.4%); the operating margin is 66.7% (peer median 6.7%).
Valuation It trades at 0.68× book value against a peer median of 3.19× (4th cheapest of 20).
Price implies The share price implies a return on equity of about 6.4%; E-L Financial delivers 20.2%, so the price asks less than the business earns today.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$3.87B | C$3.10B | C$3.35B | C$3.26B | C$107M |
| Revenue growth | — | -8% | +3% | +2,958% | — |
| Net income | C$1.83B | C$1.23B | C$1.56B | C$933M | -C$326M |
| Free cash flow | C$520M | C$387M | C$461M | C$753M | C$325M |
| Capital expenditure | C$12.9M | C$23.3M | C$7.42M | C$16.7M | C$19.8M |
| Total debt | C$849M | C$600M | C$599M | C$733M | C$703M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| E-L Financial ELF.TO | $4.74B | +10% | +32% | 20% | 0.68× | 6.4% |
| Manulife Financial MFC.TO | $72.2B | +13% | +18% | 13% | 2.22× | 13.0% |
| Sun Life Financial SLF.TO | $40.1B | +7% | -1% | 13% | 2.38× | 13.7% |
| Fairfax Financial FFH.TO | $42.7B | +21% | -1% | 16% | 1.40× | 7.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ELF.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.1% | +1.1% | 6th highest of 21 |
| 6-month return | +9.8% | +8.4% | 10th highest of 21 |
| Return on equity | 20.2% | 9.4% | 4th highest of 21 |
| Price / book | 0.68× | 3.19× | 4th cheapest of 20 |
| Trailing P/E | 3.8× | 15.9× | 3rd cheapest of 19 |
| ROE the price implies | 6.4% | 20.5% | 7th least demanding of 19 |
| ROE delivered | 20.2% | 9.5% | 4th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| E-L Financial ELF.TO | Canada | $4.74B | +10% | +32% | 20% | 0.68× | 6.4% | 20.2% |
| Max Financial Services MFSL.NS | India | $4.68B | -25% | +18% | 3% | 7.71× | 78.7% | 3.3% |
| Challenger CGF.AX | Australia | $5.59B | +36% | -25% | 13% | 2.01× | 15.8% | 13.3% |
| Star Health & Allied Insurance STARHEALTH.NS | India | $3.52B | +9% | +21% | 12% | 3.19× | 47.7% | 11.7% |
| ICICI Life Insurance ICICILIFE.NS | India | $6.77B | -22% | -8% | 13% | 4.67× | 65.0% | 12.6% |
| COFCO Capital 002423.SZ | China | $3.15B | -11% | -31% | 6% | 0.85× | 6.2% | 5.6% |
| Privia Health PRVA | United States | $3.12B | +6% | +24% | 4% | 3.94× | 25.4% | 3.8% |
| St. James's Place STJ.L | United Kingdom | $7.48B | -3% | +164% | 38% | 3.64× | 43.3% | 38.4% |
| Jackson Financial Incorporation JXN | United States | $8.70B | +17% | +34% | 9% | 1.10× | 12.5% | 9.5% |
| Clover Health Investments CLOV | United States | $2.56B | +54% | +54% | -5% | 6.32× | 94.7% | -5.1% |
| Voya Financial VOYA | United States | $8.91B | +21% | -3% | 14% | 2.34× | 17.2% | 14.3% |
| Primerica PRI | United States | $8.94B | +6% | +8% | 33% | 3.56× | 24.9% | 32.9% |
| Brighthouse Financial BHF | United States | $2.45B | -31% | +3% | 14% | 0.37× | 5.2% | 13.6% |
| Medibank Private MPL.AX | Australia | $9.94B | +14% | +9% | 27% | 5.90× | 23.8% | 26.8% |
| Hanwha Life 088350.KS | South Korea | $2.16B | -20% | +18% | 8% | 0.22× | 3.8% | 7.7% |
| JAPAN POST INSURANCE 7181.T | Japan | $11.2B | +8% | -6% | 4% | 0.38× | 2.9% | 4.2% |
| Standard Life SDLF.L | United Kingdom | $12.5B | +25% | +135% | -179% | 38.09× | n/a | -179.3% |
| Mirae Asset Life Insurance 085620.KS | South Korea | $1.78B | +17% | +22% | 5% | 1.05× | 5.6% | 5.2% |
| HDFC Life Insurance HDFCLIFE.NS | India | $13.0B | -10% | +19% | 11% | 6.31× | 72.0% | 11.2% |
| T&d 8795.T | Japan | $14.0B | +21% | +6% | 9% | 1.32× | 5.6% | 9.3% |
| Equitable EQH | United States | $14.1B | +24% | +6% | -183% | n/a | n/a | n/a |