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Trisura Group Ltd. (TSU.TO)

CAD44.40 -0.10 (-0.22%)
CA TSX Financial Services Insurance - Specialty
Address Bay Adelaide Centre M5H 2R2
Toronto, ON, CA
CEO David James Clare
IPO 2017-10-03
ISIN CA89679A2092

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Also trades on Other OTC · TRRSF (USD) Toronto Stock Exchange · TSU.TO (CAD)
Description

Trisura Group Ltd. operates as a specialized insurance enterprise, actively engaged in surety, risk management solutions, corporate coverage, and reinsurance across Canada, the United States, and international markets. Within its surety division, Trisura provides a wide array of bonding products. This includes contract surety bonds—such as performance, and labor and material payment bonds—primarily serving the construction industry. The company also issues commercial surety bonds for purposes like licenses, permits, tax and excise duties, and fiduciary obligations, which are typically required by governmental or regulatory bodies and courts to ensure adherence to legal or fiduciary responsibilities. Additionally, it offers developer surety bonds, designed to secure real estate developers' statutory deposit and warranty commitments for residential projects. For its risk solutions segment, Trisura delivers warranty programs to a diverse client base, encompassing program administrators, managing general agents, captive insurance companies, affinity groups, and reinsurers. Its corporate insurance portfolio features directors' and officers' (D&O) insurance for public, private, and non-profit organizations, along with errors and omissions (E&O) liability coverage for businesses and professionals. The company also supplies comprehensive business office package insurance and fidelity insurance, tailored for commercial entities and financial institutions. Trisura Group Ltd. was established in 2017 and is based in Toronto, Canada.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
CAD44.40 -0.10 (-0.22%)
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Volume Profile
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Liquidity & share structure
Average Volume
111.1K
Beta
0.57
Float Shares
46.40M
Free Float %
98.0%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
+0.63% -5.87% -9.29% -16.00% +7.06% -2.43% +9.97% +15.97% +14.71% +527.95% +527.95%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
44.40
DCF (Unlevered) 146.19 +229.3%
DCF (Levered) 168.70 +279.9%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 89% Bullish
Rating 2026-05 Change
Strong Buy 5 -1
Buy 3 0
Hold 1 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
1.88
Grey zone
Piotroski F-Score
7 / 9
Strong
MOAT Score
5 / 10
Developing
Composite Rating
A-
Overall Score
4 / 5
High
DCF Score
5 / 5
High
ROE Score
4 / 5
High
ROA Score
5 / 5
High
D/E Score
3 / 5
Medium
P/E Score
2 / 5
Medium
P/Book Score
1 / 5
Low
Operational MOAT
✗ Below peers
  • Revenue growth Insurance - Specialty: +11.0%
    +11.4% Q1'26: +302.4% (vs Q1'25)
  • EPS growth Insurance - Specialty: +18.3%
    +19.6% Q1'26: +26.2% (vs Q1'25)
  • FCF margin FCF growth · Insurance - Specialty: +39.7%
    +52.9% Q1'26: +2.4% (vs Q1'25)
  • EBIT margin Insurance - Specialty: +18.3%
    +22.4% Q1'26: +6.2% (vs Q1'25)
  • ROIC Insurance - Specialty: +10.3%
    Q1'26: +17.0% (vs Q1'25)
  • Share dilution Insurance - Specialty: +0.5%
    +2.0% Q1'26: +1.7% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Insurance - Specialty: 0.25×
    0.79× Q1'26: 1.08× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.65) × ERP
WACC = 93% × Ke + 7% × Kd (4.1%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 145.36 Current price: 44.40
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2018
actual
Dec 2019
actual
Dec 2020
actual
Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
3 Rev. Ana.
7 EPS Ana.
Dec 2027
3 Rev. Ana.
7 EPS Ana.
Revenue
103.28M
est: 130.80M (-21.0%)
137.53M
est: 422.62M (-67.5%)
226.63M
est: 850.18M (-73.3%)
349.88M
est: 1.50B (-76.7%)
520.77M
est: 2.41B (-78.4%)
711.34M
est: 3.07B (-76.8%)
778.83M
est: 3.19B (-75.6%)
867.95M
est: 3.22B (-73.0%)
3.48B
3.45B – 3.51B
+8.0% YoY
3.80B
3.71B – 3.89B
+9.4% YoY
EBITDA
15.58M
est: 22.69M (-31.3%)
15.06M
est: 73.31M (-79.5%)
43.22M
est: 147.47M (-70.7%)
86.01M
est: 260.44M (-67.0%)
46.01M
est: 417.55M (-89.0%)
94.49M
est: 813.41M (-88.4%)
163.19M
est: 844.83M (-80.7%)
198.19M
est: 852.59M (-76.8%)
921.18M
913.28M – 929.08M
+8.0% YoY
1.01B
983.72M – 1.03B
+9.4% YoY
EBIT
14.03M
est: 21.80M (-35.6%)
12.56M
est: 70.44M (-82.2%)
40.60M
est: 141.69M (-71.4%)
82.08M
est: 250.24M (-67.2%)
42.39M
est: 401.20M (-89.4%)
92.83M
est: 826.50M (-88.8%)
161.76M
est: 858.42M (-81.2%)
194.30M
est: 866.31M (-77.6%)
936.01M
927.98M – 944.03M
+8.0% YoY
1.02B
999.55M – 1.05B
+9.4% YoY
Net Income
8.64M
est: 14.05M (-38.5%)
5.09M
est: 6.84M (-25.6%)
32.44M
est: 35.01M (-7.3%)
62.56M
est: 76.66M (-18.4%)
27.80M
est: 89.68M (-69.0%)
66.94M
est: 91.95M (-27.2%)
118.92M
est: 129.49M (-8.2%)
142.25M
est: 136.29M (+4.4%)
157.10M
150.60M – 161.26M
+15.3% YoY
179.74M
168.83M – 190.30M
+14.4% YoY
SGA
— – —
— – —
EPS
0.33
est: 0.30 (+11.9%)
0.18
est: 0.14 (+25.2%)
0.83
est: 0.74 (+12.9%)
1.52
est: 1.61 (-5.6%)
0.64
est: 1.88 (-66.0%)
1.44
est: 1.89 (-23.9%)
2.50
est: 2.67 (-6.3%)
2.98
est: 2.81 (+6.0%)
3.19
3.10 – 3.32
+13.5% YoY
3.68
3.48 – 3.92
+15.2% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-11 A- 4/5 5/5 4/5 5/5 3/5 2/5 1/5
2026-05-08 A- 4/5 5/5 4/5 5/5 3/5 2/5 1/5
2026-05-07 A- 4/5 5/5 4/5 5/5 3/5 2/5 1/5
2026-05-06 A- 4/5 5/5 4/5 5/5 3/5 2/5 1/5
2026-05-05 A- 4/5 5/5 4/5 5/5 3/5 2/5 1/5
2026-05-04 A- 4/5 5/5 4/5 5/5 3/5 2/5 1/5
2026-05-01 A- 4/5 5/5 5/5 5/5 3/5 2/5 1/5
2026-04-30 A- 4/5 5/5 5/5 5/5 3/5 2/5 1/5
2026-04-29 A- 4/5 5/5 5/5 5/5 3/5 2/5 1/5
2026-04-28 A- 4/5 5/5 5/5 5/5 3/5 2/5 1/5
2026-04-27 A- 4/5 5/5 5/5 5/5 2/5 2/5 1/5
2026-04-24 A- 4/5 5/5 5/5 5/5 2/5 2/5 1/5
2026-04-23 A- 4/5 5/5 5/5 5/5 2/5 2/5 2/5
2026-04-22 A- 4/5 5/5 5/5 5/5 2/5 2/5 2/5
2026-04-21 A- 4/5 5/5 5/5 5/5 2/5 2/5 2/5
2026-04-20 A- 4/5 5/5 5/5 5/5 2/5 2/5 2/5
2026-04-17 A- 4/5 5/5 4/5 5/5 2/5 3/5 2/5
2026-04-16 A- 4/5 5/5 4/5 5/5 2/5 3/5 2/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
366.11M
OE per share TTM
7.54
Owner's Yield
18.60%
Maintenance CapEx ratio
42.22%
Maint CapEx / Avg PPE
2.9%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock Held by 60 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 iShares S&P/TSX SmallCap Index ETF XCS.TO 0.68% 1.16M 0.60%
2 iShares S&P/TSX Completion Index ETF XMD.TO 0.21% 1.17M 0.60%
3 Fidelity Canadian High Quality ETF FCCQ.TO 0.16% 1.09M 0.39%
4 State Street SPDR S&P International Small Cap ETF GWX 0.12% 1.06M 0.40%
5 iShares S&P/TSX Capped Financials Index ETF XFN.TO 0.11% 1.86M 0.61%
6 iShares ESG Advanced MSCI Canada Index ETF XCSR.TO 0.08% 289.6K 0.17%
7 Schwab International Small-Cap Equity ETF SCHC 0.06% 3.07M 0.06%
8 Avantis International Small Cap Equity ETF AVDS 0.05% 154.7K 0.30%
9 Dimensional - International Small Cap ETF DFIS 0.05% 2.63M 0.39%
10 BMO S&P/TSX Capped Composite Index ETF ZCN.TO 0.04% 5.07M 0.06%

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
1.22M
Shares Outstanding
47.37M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
David James Clare President, Chief Executive Officer & Director 1M male
Richard William Grant Chief Underwriting Officer 803.3K male
Michael Baird Beasley President of Trisura US Programs 786.1K male
David Charles Scotland Chief Financial Officer 714.3K male
Alison Kenworthy Chief Financial Officer of Trisura 652.4K
Eileen Marie Sweeney Executive Vice President & Chief Operating Officer of Trisura US Programs 488.6K female
Phillip Shirtliff Chief Risk Officer 472.4K
James Gabriel Doyle Chief Risk Officer 472.4K male
Tom Ciano Chief Underwriting Officer of US Corporation Insurance
George Robert James Chief Underwriting Officer of U.S. Surety male
Joanna Grossman General Counsel & Corporate Secretary
Terry Michalakos Senior Vice President of North American Surety
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend history

Earnings history

Earnings reports

Stock splits