Fairfax India reports after the market on November 11. One analyst expects a year-over-year drop in earnings, but investment gains can make the company’s quarterly results swing sharply.
Fairfax India Holdings Corporation (TSX: FIH.U) is scheduled to report results for the quarter ended September 30, 2026, after the market closes on November 11. The calendar shows one analyst’s estimates: a loss of US$0.08 per share and revenue of US$8.94 million. Both point to a steep decline from a year earlier.
Recent earnings trend
Fairfax India Holdings Corporation
FIH-U.TO
FIH-U.TO
Fairfax India Holdings Corporation
WealthAwesomeMarket cap
$2.40B
P/E
10.2x
52W high
$20.22
52W low
$15.63
1W change
-3.53%
Beta
0.83
Analyst Price Targets
Based on analyst covering FIH-U · as of Sep 17, 2026
Wall Street analysts forecast FIH-U stock price to fall 2.9% over the next 12 months.
Consensus
NeutralBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
US$17.00
-2.9% Upside
Current Price
US$17.50
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on FIH-U's historical volatility
30-Day Vol
30.9%
Annualized
90-Day Vol
29.2%
Annualized
Trend (90d)
-29.2%
Annualized drift
90d Mean
US$15.77
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | US$16.90 | US$15.19 – US$18.81 |
| 60 trading days | US$16.32 | US$14.04 – US$18.99 |
| 90 trading days | US$15.77 | US$13.10 – US$18.97 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 1 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 2 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2023-03-31 | 2023-05-11 | -0.4000 | -0.0800 | -400.0% |
| 2022-12-31 | 2023-02-16 | 0.6500 | -0.0700 | +1028.6% |
| 2022-09-30 | 2022-11-03 | 0.7900 | -0.0400 | +2075.0% |
| 2022-06-30 | 2022-07-28 | -0.5000 | -0.0900 | -455.6% |
| 2022-03-31 | 2022-04-28 | 0.3800 | 0.1700 | +123.5% |
| 2021-12-31 | 2022-02-10 | -0.8300 | 0.1700 | -588.2% |
The company’s latest reported quarter was much stronger, with net earnings of US$37.6 million, or US$0.28 per diluted share. Investment gains drove much of that result. Because Fairfax India holds a concentrated, India-focused portfolio, changes in valuations, realized gains and currency movements can lead to large swings from one quarter to the next. For more background, see the Fairfax India stock page.
Investor takeaway: The November 11 report will show whether investment gains continued, but the consensus is a forecast, not evidence of a lasting earnings trend. One analyst expects a loss of US$0.08 per share and revenue of US$8.94 million. The year-ago EPS was US$0.38, while estimated revenue growth is -87.8%. Fairfax India beat estimates in two of its last four reported quarters, though its results can be volatile. In the latest quarter, investment gains drove a US$37.6 million profit, while foreign-currency translation losses reduced the benefit.
Two of the last four reported quarters beat estimates
Fairfax India beat EPS estimates in two of its last four reported quarters. That offers some context, but it doesn’t predict the next result. Investment gains, currency translation and the timing of realized gains can all have a significant effect on reported earnings. The upcoming consensus is a loss of US$0.08 per share, based on one analyst, compared with year-ago EPS of US$0.38.
Bull case
Further gains across the portfolio could make the expected loss look conservative. In the third quarter, Fairfax India reported US$52.8 million in net gains on public common stocks. That included realized gains from selling part of its IIFL Finance stake.
Book value per share was US$20.75 at September 30, nearly unchanged from US$20.74 at June 30. Fairfax India also increased its interest in IIFL Capital. A completed subscription brought its combined stake with an affiliate to 40.8%, with a potential path to at least 51%, subject to the open offer and related conditions. This gives Fairfax India greater exposure to a key investment. The upcoming report will show whether portfolio performance supported results during the quarter.
Bear case
The same concentrated portfolio that can amplify gains can also magnify losses when valuations fall, currencies move or financing costs rise. In the third quarter, Fairfax India recorded US$36.0 million in foreign-currency translation losses attributable to shareholders as the Indian rupee weakened against the U.S. dollar. Its nine-month results also showed a net loss, despite the latest quarter’s profit.
Fairfax India temporarily increased its revolving credit facility limit from US$220 million to US$470 million to help fund the additional IIFL Capital investment. That adds financing and execution risks. And because the upcoming consensus comes from one analyst, it offers only a limited view of expectations.
Analysis
Fairfax India is due to report after the market on November 11 for the quarter ended September 30. The calendar lists an EPS consensus of -US$0.08 and revenue consensus of US$8.94 million, each based on one analyst. The EPS estimate hasn’t changed in the past 30 days, and there have been no upward or downward revisions.
Compared with year-ago EPS of US$0.38 and estimated revenue growth of -87.8%, the forecast points to a much weaker year-over-year comparison. With only one analyst contributing, treat the consensus as a limited reference point, not a broad measure of market expectations. Fairfax India beat estimates in two of its last four reported quarters, but portfolio valuation changes and realized investment gains can have a large effect on results.
Analysis
Fairfax India’s third-quarter 2026 results show why it’s hard to project a simple earnings trend. The company reported net earnings of US$37.6 million, or US$0.28 per diluted share, compared with US$3.2 million and US$0.02 per diluted share a year earlier.
Investment gains contributed significantly. Fairfax India recorded US$52.8 million in net gains on public common stocks, including realized gains from a partial sale of IIFL Finance shares. At the same time, US$36.0 million in foreign-currency translation losses attributable to shareholders reflected the Indian rupee’s decline against the U.S. dollar. Book value per share edged up to US$20.75 from US$20.74 in the prior quarter.
The next report will show whether portfolio gains continued and how currency movements and other investment results affected the quarter.
Analysis
Fairfax India completed a subscription that increased its equity interest in IIFL Capital by 11.2%, for about US$211 million. Fairfax India and its affiliate now hold a combined 40.8% interest. An open offer and potential additional share purchase could raise their combined stake to at least 51%, subject to the offer’s outcome and customary conditions.
The company also temporarily raised its revolving credit facility limit from US$220 million to US$470 million to support the investment. These changes make the upcoming results relevant not just for earnings, but also for how investors assess Fairfax India’s concentrated portfolio and the funding behind its larger position. Review the analyst ratings and target information and the Fairfax India price forecast alongside the company’s filings. Neither is a substitute for assessing the risks.
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