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World's largest Caterpillar equipment dealer, serving Western Canada, the UK/Ireland and South America.
World's largest Caterpillar equipment dealer, serving Western Canada, the UK/Ireland and South America.
Holds the exclusive right to sell, rent and service Caterpillar machines in Western Canada, Chile, Argentina, Bolivia and the UK and Ireland, buying machines from Caterpillar and reselling them. New-machine sales are cyclical, while parts and repair work on customers' large fleets give steadier income through the machines' working lives.
Moat: narrow (distribution, installed base, brand). Exclusive Caterpillar dealer territories on multiple continents with a large service-fleet base.
Headquarters: Vancouver, Canada · Founded: 1933 · Employees: 15,047
Size Finning International (FTT.TO) is a Canada Industrials company (Wholesale Distributors) with a market value of $8.20B, the 85th largest of 420 Canada companies the cockpit tracks. Shares closed at C$88.62 on 6 Nov 2026.
Performance Over six months the shares fell 9.3%, against +2.5% for the median peer and +5.2% for the Canada market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 0.3% over the last twelve months (peer median +4.4%); the operating margin is 7.8% (peer median 10.6%).
Valuation It trades at 17.5× forward earnings against a peer median of 20.1× (8th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 10% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is -1 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.6 points above its cost of capital (8.4% WACC).
Next results Next results expected around 10 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$11.2B | C$10.6B | C$9.90B | C$10.5B | C$9.28B |
| Revenue growth | — | +7% | -6% | +13% | — |
| Gross profit | C$2.48B | C$2.37B | C$2.36B | C$2.40B | C$2.07B |
| EBITDA | C$1.25B | C$1.25B | C$1.19B | C$1.31B | C$1.10B |
| Net income | C$550M | C$506M | C$509M | C$523M | C$503M |
| Free cash flow | C$213M | C$480M | C$858M | C$8.00M | -C$170M |
| Capital expenditure | C$232M | C$208M | C$153M | C$220M | C$171M |
| Total debt | C$2.60B | C$2.31B | C$2.58B | C$2.70B | C$2.33B |
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 | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Finning International FTT.TO | $8.20B | -9% | 0% | 8% | 17.5× | 10.1% |
| Toromont Industries TIH.TO | $10.7B | -15% | +16% | 15% | 20.2× | 7.6% |
| Wajax WJX.TO | $503M | +11% | -4% | 6% | 9.8× | -6.8% |
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 | FTT.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -16.9% | +3.6% | 2nd lowest of 21 |
| 6-month return | -9.3% | +2.5% | 6th lowest of 21 |
| Distance from 52-week high | -23.3% | -14.7% | 7th lowest of 21 |
| Revenue growth (TTM) | +0.3% | +4.4% | 5th lowest of 21 |
| Operating margin | 7.8% | 10.6% | 7th lowest of 21 |
| Forward P/E | 17.5× | 20.1× | 8th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 10.1% | 9.0% | 9th most demanding of 20 |
| Growth delivered (Del g) | +11.3% | +9.0% | 10th highest of 20 |
| Hurdle (Req g minus delivered) | -1.2 pp | -0.9 pp | 10th least demanding of 20 |
| ROIC minus cost of capital | +3.6 pp | +2.7 pp | 11th highest of 21 |
| EV / EBITDA | 11.1× | 14.0× | 4th cheapest of 18 |
| Net debt / EBITDA | 1.9× | 2.4× | 8th least indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Finning International FTT.TO | Canada | $8.20B | -9% | 0% | 8% | 17.5× | 10.1% | +11.3% |
| Beijer Ref BEIJ-B.ST | Sweden | $8.09B | +27% | +4% | 10% | 28.0× | 14.0% | +21.4% |
| Reece REH.AX | Australia | $7.83B | +44% | +4% | 6% | 35.5× | 24.2% | +8.4% |
| Addtech ADDT-B.ST | Sweden | $8.66B | -2% | +4% | 13% | 30.7× | 19.3% | +14.9% |
| Core & Main CNM | United States | $8.76B | -6% | -1% | 10% | 14.3× | 5.3% | +16.0% |
| Hotai Motor 2207.TW | Taiwan | $8.90B | +10% | +8% | 11% | 13.2× | 1.5% | +3.9% |
| MonotaRO 3064.T | Japan | $7.04B | +22% | +19% | 14% | 29.6× | 9.7% | +16.2% |
| Imcd IMCD.AS | Netherlands | $6.80B | +7% | +3% | 8% | 18.2× | 10.9% | +11.5% |
| Brenntag BNR.DE | Germany | $10.0B | 0% | -5% | 5% | 14.5× | 1.9% | +5.2% |
| Zhejiang China Commodities City 600415.SS | China | $10.0B | -7% | +22% | 22% | 14.4× | n/a | n/a |
| Royal Vopak VPK.AS | Netherlands | $6.51B | +14% | +1% | 29% | 15.5× | 8.8% | +1.8% |
| Applied Industrial Technologies AIT | United States | $10.3B | -8% | +8% | 11% | 23.0× | 8.6% | +8.9% |
| MSC Industrial Direct MSM | United States | $6.33B | +9% | +6% | 9% | 20.1× | 9.0% | +4.3% |
| Toromont Industries TIH.TO | Canada | $10.7B | -15% | +16% | 15% | 20.2× | 7.6% | +8.4% |
| Bollore BOL.PA | France | $11.8B | -28% | -83% | -7% | 36.9× | 37.0% | -29.4% |
| SGH SGH.AX | Australia | $11.9B | +7% | -1% | 13% | 18.1× | 11.4% | +17.0% |
| Rexel RXL.PA | France | $11.9B | -10% | +1% | 6% | 13.5× | 7.7% | +9.0% |
| QXO QXO | United States | $12.0B | -38% | +408% | -1% | 29.2× | 52.0% | +178.0% |
| Bunzl BNZL.L | United Kingdom | $12.0B | +22% | +2% | 7% | 15.3× | 2.3% | +3.2% |
| Diploma DPLM.L | United Kingdom | $12.6B | +4% | +13% | 22% | 27.5× | 23.9% | +23.1% |
| Hdhms 443060.KS | South Korea | $5.28B | -39% | +20% | 16% | 23.0× | 3.0% | +14.5% |