Extendicare

EXE.TO

Medical - Care Facilities · Healthcare

Also trades as: 0S9E.L

Exchange

Toronto Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Strong

Growth

Strong

Cash Flow

Strong

Stability

Good

Valuation

Good

Dividends

Mixed

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Winston Score History

The full picture

Extendicare is a Canadian company that runs long-term care homes and home health services for elderly people. It operates nursing homes where seniors live and receive daily medical care, and it also sends nurses and caregivers directly into people's homes. The company serves thousands of older Canadians across Ontario and other provinces, making it one of the largest providers of senior care in Canada.

Extendicare earns money by charging fees for beds in its care homes and billing for home care visits, with a significant portion of revenue coming from government funding through provincial health programs. It operates almost entirely in Canada, generating roughly $1.5 billion in annual revenue. Its competitive position benefits from long-term government contracts and the high cost of building new care facilities, which limits new competition. The key growth driver is Canada's aging population, which is expected to steadily increase demand for senior care over the coming decades, though government funding rate changes and staffing shortages remain ongoing risks.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+59.4% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-15.8% YoY

YoY Growth Rate

Earnings declining

Insider Activity

1.3%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

C$125M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Extendicare grew revenue 59% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

100.0%

Premium pricing power — 100.0% gross margin

Profit after running costs

Operating Margin

8.5%

Modest — 8.5% operating margin

Return on the money invested

ROCE

16.6%

Strong — 16.6% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth

Sales YoY

+31.1%

Fast-growing sales (+31.1% YoY)

Profit growth

EPS YoY

+22.2%

Earnings growing fast (+22.2% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

123%

Turns 123% of profit into real cash

Spare cash per sale

FCF Margin

3.0%

Thin free cash flow (3.0%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

1.60

Elevated debt (1.60)

Covers its interest

Interest Cover

7.35x

Adequate interest coverage (7.3x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

24.3x

no trend

Growth-priced — P/E 24.3

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

+1.1

GROWING

Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend

Dividend Yield

1.44%

no trend

Small dividend — 1.44% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

+3.7%

no trend

Dividend growing modestly (3.7% YoY)

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