Onex (TSE:ONEX) Announces Earnings Results

Posted by on Nov 13th, 2026

Onex (TSE:ONEX – Get Free Report) released its earnings results on Friday. The company reported C$1.82 earnings per share for the quarter, FiscalAI reports. Onex had a return on equity of 5.25% and a net margin of 101.81%. The business had revenue of C$220.66 million for the quarter.

Here are the key takeaways from Onex’s conference call:

  • Convex delivered stronger operating results: last-12-month adjusted net income rose 13% to $659 million, while its combined ratio improved to 87%. Q3 premium growth reached 20%, partly reflecting marine war business; management expects more normalized growth and flagged softer pricing in some markets.
  • Onex Partners VI’s first close exceeded management’s expectations at more than $2 billion, with full re-ups from Onex Partners Opportunities Fund investors and a broad LP base. Onex said the close keeps it on track to reach $35 million in exit run-rate fee-related earnings by year-end 2026.
  • Onex agreed to secondary sales expected to generate $334 million in proceeds at 92% of carrying value, with additional proceeds possible; related commitments also add fee-generating assets. The company said it may use proceeds for share repurchases, while emphasizing it will pursue further sales only at attractive prices.
  • Credit continued to add scale, with $20 million of fee-related earnings in Q3 and $7.9 billion of CLOs raised or extended during 2026 to date. Onex also cited potential growth in infrastructure credit and insurance partnerships.
  • Convex’s valuation was flat at $4.1 billion despite quarterly earnings, as higher interest rates caused unrealized losses on its fixed-income portfolio and reduced tangible book value. Separately, credit investing capital fell 4% over the last 12 months, largely due to mark-to-market impacts.

Onex Trading Up 1.6%

ONEX stock traded up C$1.74 during midday trading on Friday, hitting C$108.96. 107,267 shares of the company’s stock were exchanged, compared to its average volume of 116,160. The business has a 50-day simple moving average of C$106.47 and a two-hundred day simple moving average of C$107.82. The company has a current ratio of 1.82, a quick ratio of 2.41 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of C$8.31 billion, a PE ratio of 16.21, a P/E/G ratio of 1.47 and a beta of 0.86. Onex has a 1-year low of C$95.15 and a 1-year high of C$119.77.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. TD cut their price objective on shares of Onex from C$165.00 to C$163.00 and set a “buy” rating for the company in a report on Friday, August 14th. RBC Dominion Securities decreased their target price on shares of Onex from C$135.00 to C$129.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 15th. Royal Bank Of Canada boosted their target price on Onex from C$130.00 to C$135.00 and gave the stock a “sector perform” rating in a report on Friday, August 14th. Finally, BMO Capital Markets set a C$160.00 price target on Onex and gave the company an “outperform” rating in a research report on Thursday, October 1st. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of C$144.40.

Get Our Latest Stock Analysis on Onex

Onex Company Profile

(Get Free Report)

Onex Corporation is a private equity investor and asset management firm. The company operates in two main segments: investing, which includes private equity, private credit, and direct investments; and asset and wealth management, which manages pension plans, sovereign wealth funds, insurance companies, and family offices. Investing revenue primarily comes from net gains on corporate investments and CLOs (collateralized loan investments). Asset and wealth management revenue comes primarily from management and performance fees.

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Earnings History for Onex (TSE:ONEX)

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