Pineapple Financial Inc. Common Stock (PAPL)

FairStock Score: 35/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Mortgage brokerage is a cyclical, commoditized, low-margin business, and Pineapple is tiny: 39 employees and a $24.8M market cap at the $0.98 close on 2026-10-13. The filed record shows four straight years of losses: FY2023 net income -$2.8M, FY2024 -$4.1M, FY2025 -$3.6M. FairStock's Lynch category is none because the company lost money in each of the last four years. Revenue is shrinking—FairStock's revenue growth measure is -23.51%—and quarterly revenue fell from $746,903 in fiscal Q3 2025 to $622,502 in fiscal Q3 2026. The fiscal Q1 2026 loss was -$6.4M and fiscal Q2 2026 loss -$19.5M. Then fiscal Q3 2026, the quarter ended 2026-05-31, showed $25.3M of net income on $622,502 of revenue; that is wildly disconnected from underlying brokerage economics and must be explained, not extrapolated. At the close date, FairStock shows P/B 0.49 and negative P/E -0.52. A sub-1 price-to-book can tempt a Graham investor, but ROE is -12.09%, ROCE is -4.33%, EPS is -$1.90, and D/E is 0.43. Book value is not producing earnings. Piotroski 4/9 and FairStock Score 35/100 reinforce caution. Beta 5.57 and the 52-week range $0.54–$5.31 scream speculation. As a financial, key bank-specific measures like CET1, NIM, and combined ratio are absent, so credit and underwriting quality cannot be judged. I would need stable revenue, consistent positive operating earnings, and clean disclosure before seeing a margin of safety. A low price alone is not enough.

In plain English: Pineapple Financial is a small Canadian mortgage brokerage and technology services company. It has lost money in each of the last four years, revenue has been shrinking, and one recent quarter showed a big profit that looks unusual next to its tiny sales. At $0.98, the stock may look cheap compared with its accounting net worth, but the weak business results make it hard to call it a bargain.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q3 2026 10-Q (period ended 2026-05-31) · fiscal Q2 2026 10-Q (period ended 2026-02-28) · fiscal Q1 2026 10-Q (period ended 2025-11-30) · fiscal Q3 2025 10-Q (period ended 2025-05-31) · FY2025 10-K (period ended 2025-08-31) · FY2024 10-K (period ended 2024-08-31) · FY2023 10-K (period ended 2023-08-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer