November 2026
Largest Specialty Finance Public Companies in Canada
Benchmark revenue and EBITDA valuation multiples for public comps like
Cymbria, Sailfish Royalty, Evolve Royalties, iAnthus Capital Holdings and Flow Capital.
 | Cymbria Corp is a Canada-based investment company. The investment objective of the company is to provide long-term capital appreciation through a concentrated portfolio of companies. | $73 | +18% | $1.6B | $1.5B | 6.3x | - | ||
| Sailfish Royalty Corp is engaged in the acquisition of royalty and streaming agreements. The company's portfolio has two main assets on stage projects in the Americas: a gold stream equivalent to a 3% NSR on the San Albino gold project and a 2% NSR on the rest of the area surrounding San Albino in northern Nicaragua; and an up to 3% NSR on the Spring Valley gold project in Pershing County, Nevada, and others. | $5 | +129% | $389M | $257M | 76.2x | 127.3x | ||
| Evolve Royalties Ltd is a royalty company that applies a royalty and streaming business model to mining projects. The company holds a portfolio of royalty and payment interests linked to various mining operations and development projects. Its portfolio consists of a variety of royalties, including a net profit interest in several mining projects across copper, lithium, and gold, including operations in North and South America. The portfolio also includes exploration-stage royalties and production payment rights. | $2 | -- | $108M | $103M | 99.6x | (220.7x) | ||
| iAnthus Capital Holdings Inc is a vertically-integrated multi-state owner and operator of licensed cannabis cultivation, processing, and dispensary facilities. The company's operating segments include the Eastern Region and Western Region. It generates a majority of its revenue from the Eastern Region. The Eastern Region includes the company's operations in Florida, Maryland, Massachusetts, New York, New Jersey, Vermont, and its CBD business. Its Western Region includes the company's operations in Arizona, Colorado, and Nevada. | Cannabis+1 | $0 | -50% | $25M | $258M | 1.8x | 66.7x | |
| Flow Capital Corp provides founder-friendly growth capital for emerging and high-growth companies in North America and beyond. Through venture debt and revenue-based financing, founders and entrepreneurs can access minimally dilutive capital to help scale their businesses. Geographically, it derives a majority of its revenue from the United States and the rest from the United Kingdom and Canada. | $1 | -- | $22M | $22M | 2.3x | 8.3x | ||
| Median | $2 | +18% | $108M | $257M | 6.3x | 37.5x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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