Professional
Added to YB: 2026-04-24
Pitch date: 2026-04-22
FP.V [neutral]
FP Newspapers Inc.
-1.37%
current return
Author Info
Halvio Capital is an investment firm that seeks to compound capital at high rates of return while taking limited risk of capital impairment through separately managed accounts. The firm’s goal is to outperform the broader indices over a long time frame. Sign up for the newsletter.
Company Info
FP Newspapers Inc. publishes, prints, and distributes daily and weekly newspapers, and specialty publications in Manitoba.
Market Cap
CAD 5.0M
Pitch Price
CAD 0.73
Price Target
N/A
Dividend
N/A
EV/EBITDA
N/A
P/E
5.86
EV/Sales
2.50
Sector
Media
Category
value
Halvio Capital Portfolio Holding: FP Newspapers Inc.
FP.V (holding update): Owns 49% of partnership w/ Winnipeg Free Press (46% weekly adult readership in 803K city). $6-7M EBITDA despite rev decline, resilient circulation rev. $4.8M mkt cap, 2x look-through EV/EBITDA post-debt payoff, $2M net cash. Building worth ~$22M ($11M FP share = 2x mkt cap). Torstar logical buyer. Risks: declining print ads, past capital misallocation ($8M printing press writeoff), 49% stake limits control, illiquid microcap.
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