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Canadian private equity firm that invests its own and client capital across buyouts, credit and other alternative asset strategies.
Canadian private equity firm that invests its own and client capital across buyouts, credit and other alternative asset strategies.
Earns in two ways: management fees and a share of profits, called carried interest, on funds it runs for outside investors, and gains on selling companies it owns with its own money, so results arrive in lumps as holdings are sold. Founder Gerry Schwartz controls the votes through Super Voting shares.
In one line: Canada's KKR/Blackstone.
Moat: narrow (brand, scale, distribution). Decades-long track record and institutional investor relationships that support repeat fundraising.
Headquarters: Toronto, Canada · Founded: 1984 · Employees: 343
Size Onex (ONEX.TO) is a Canada Financials company (Financial Conglomerates) with a market value of $5.91B, the 110th largest of 420 Canada companies the cockpit tracks. Shares closed at C$108.55 on 6 Nov 2026.
Performance Over six months the shares fell 6.9%, against -0.6% for the median peer and +5.2% for the Canada market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 1.9% over the last twelve months (peer median +20.0%); the operating margin is 173.1% (peer median 31.6%).
Valuation It trades at 0.60× book value against a peer median of 1.31× (2nd cheapest of 20).
Price implies The share price implies a return on equity of about 6.5%; Onex delivers 5.2%, so the price asks more than the business earns today.
Next results Next results expected around 13 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$387M | C$402M | C$362M | C$440M | C$406M |
| Revenue growth | — | +11% | -18% | +8% | — |
| Gross profit | C$263M | C$333M | C$277M | C$335M | C$275M |
| EBITDA | C$693M | C$900M | C$482M | C$999M | C$420M |
| Net income | C$664M | C$862M | C$415M | C$714M | C$306M |
| Free cash flow | n/a | C$985M | C$260M | C$94.5M | -C$509M |
| Capital expenditure | C$0 | C$0 | C$0 | C$10.8M | C$10.4M |
| Total debt | C$39.7M | C$45.2M | C$59.0M | C$80.4M | C$94.8M |
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 |
|---|---|---|---|---|---|---|
| Onex ONEX.TO | $5.91B | -7% | +2% | 5% | 0.60× | 6.5% |
| KKR & KKR | $86.6B | -6% | +32% | 11% | 3.04× | 34.8% |
| Blackstone BX | $149B | -3% | +9% | 41% | 16.81× | 162.6% |
| Brookfield Asset Management BAM | $86.7B | +6% | +120% | 35% | 11.56× | 96.9% |
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 | ONEX.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.0% | +3.6% | 7th highest of 21 |
| 6-month return | -6.9% | -0.6% | 6th lowest of 21 |
| Return on equity | 5.2% | 10.0% | 10th lowest of 20 |
| Price / book | 0.60× | 1.31× | 2nd cheapest of 20 |
| Trailing P/E | 11.7× | 12.4× | 8th cheapest of 15 |
| ROE the price implies | 6.5% | 12.3% | 3rd least demanding of 20 |
| ROE delivered | 5.2% | 10.0% | 10th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Onex ONEX.TO | Canada | $5.91B | -7% | +2% | 5% | 0.60× | 6.5% | 5.2% |
| Azimut AZM.MI | Italy | $5.70B | -1% | +17% | 28% | 2.62× | 24.8% | 28.5% |
| Brookfield Business BBUC.TO | Canada | $6.15B | -9% | +106% | -24% | 1.11× | 11.6% | -23.5% |
| Blue Owl Capital OBDC | United States | $5.39B | -4% | +1% | 4% | 0.77× | 7.1% | 3.9% |
| Main Street Capital MAIN | United States | $5.33B | +6% | +3% | 15% | 1.68× | 12.3% | 14.9% |
| Zegona Communications ZEG.L | United Kingdom | $5.17B | -5% | +55% | n/a | n/a | n/a | n/a |
| Authum Investment & Infrastucture AIIL.NS | India | $5.14B | +16% | -23% | 10% | 2.59× | 37.9% | 10.0% |
| Wendel MF.PA | France | $4.14B | 0% | -13% | -4% | 1.11× | 12.4% | -3.9% |
| Aker AKER.OL | Norway | $8.60B | -7% | -17% | 50% | 1.18× | 11.7% | 50.3% |
| Legend 3396.HK | Hong Kong | $4.03B | +34% | +27% | 5% | 0.49× | 5.9% | 4.6% |
| BB Biotech BION.SW | Switzerland | $3.45B | +13% | +125% | 39% | 0.87× | 4.6% | 38.7% |
| M&G MNG.L | United Kingdom | $10.3B | +7% | +68% | -4% | 2.91× | 32.8% | -3.8% |
| Golub Capital BDC GBDC | United States | $3.31B | -3% | -9% | 4% | 0.89× | 6.7% | 4.5% |
| SBI 8473.T | Japan | $11.2B | -13% | +20% | 28% | 0.91× | 8.0% | 28.4% |
| BitMine Immersion Technologies BMNR | United States | $11.3B | -15% | +1,022% | -151% | 0.94× | 15.1% | -151.2% |
| Roko ROKO-B.ST | Sweden | $2.97B | +14% | +20% | 15% | 4.58× | 12.3% | 14.5% |
| Kyivstar KYIV | United States | $2.96B | -4% | +26% | 20% | 2.13× | 18.0% | 20.2% |
| Washington H. Soul Pattinson and SOL.AX | Australia | $12.5B | +12% | +143% | 20% | 1.42× | 8.9% | 19.8% |
| Strive ASST | United States | $2.73B | +35% | +650% | -138% | 2.72× | 48.9% | -137.9% |
| Bajaj Holdings & Investment BAJAJHLDNG.NS | India | $13.0B | +4% | -14% | 13% | 1.67× | 20.7% | 13.1% |
| Zhejiang Provincial New Energy Investment 600032.SS | China | $2.59B | -27% | -6% | 2% | 1.31× | 8.5% | 2.3% |