Canlan Ice Sports Corp
Canlan Ice Sports Corp operates ice rinks and offers recreational and competitive ice sports programs, generating revenue through facility rentals, membership fees, and event hosting.
Business. Canlan Ice Sports Corp (ICE.TO) is a leisure and recreation company that operates within the Cyclical Consumer Services sector. The firm generates service revenue through its leisure and recreation activities. It is headquartered in Canada and is primarily listed on the Toronto Stock Exchange. Specific operating segments and geographic breakdowns are not provided in the available data.
Analyst recommendations
17 analysts · consensus BuyAt a glance
What drives this business
The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.
News & coverage
0Sector rotation
Developing storylines
Analysis
AI analysisOpportunity
Upcoming catalysts
Scheduled public events. Informational only — not investment advice.
- Company
- EarningsQ3 2026 earnings (expected)2026-10-28 · estimated
- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
- Congressional trades
- CongressJosh Gottheimer — Intercontinental Exchange Inc.2026-01-26 · Democrat · NJ · Purchase · $1,001 - $15,000
- CongressMarkwayne Mullin — Intercontinental Exchange Inc. Common Stock2025-12-29 · Purchase · $15,001 - $50,000
- CongressJosh Gottheimer — Intercontinental Exchange Inc.2025-10-16 · Democrat · NJ · Sale · $1,001 - $15,000
- CongressRob Bresnahan — Intercontinental Exchange Inc.2025-01-13 · Republican · PA · Sale · $1,001 - $15,000
- CongressJosh Gottheimer — Intercontinental Exchange Inc.2024-03-18 · Democrat · NJ · Purchase · $1,001 - $15,000
- CongressJohn Curtis — Intercontinental Exchange Inc.2023-12-04 · Republican · UT · Sale · $1,001 - $15,000
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
Canlan Ice Sports Corp (ICE.TO) is a leisure and recreation company that operates within the Cyclical Consumer Services sector. The firm generates service revenue through its leisure and recreation activities. It is headquartered in Canada and is primarily listed on the Toronto Stock Exchange. Specific operating segments and geographic breakdowns are not provided in the available data.
Canlan Ice Sports Corp maintains a capital structure with a debt-to-equity ratio of 0.98, indicating a balanced mix of debt and equity financing. The company's liquidity position is characterized by a current ratio of 0.96, suggesting limited short-term liquidity cushion. Free cash flow of $4.97 million supports operational flexibility, but net cash is negative after subtracting total debt, signaling potential liquidity constraints.
Profitability metrics show a return on equity of 8.59% and a return on assets of 3.47%, both below the industry median for Leisure & Recreation. The company's operating margin of 22.04% (calculated from operating income of $5.77 million on revenue of $26.19 million) is in line with the sector average, but net margin of 16.18% reflects a moderate level of profitability. Gross margin of 94.3% indicates strong cost control in core operations.
Geographically, the company's revenue is concentrated in Canada, with no disclosed international operations. Segment-wise, the business is entirely focused on ice rink operations and related services, with no material diversification across product lines or geographic regions. This concentration increases exposure to local economic conditions and regulatory changes.
The company's growth trajectory is modest, with no disclosed revenue growth in the most recent fiscal year. Looking ahead, the outlook for the current and next fiscal years remains flat, with no significant revenue expansion anticipated. Historical revenue trends show limited volatility, but the cyclical nature of the Leisure & Recreation industry introduces seasonal and macroeconomic risks.
Risk factors include medium liquidity risk due to the current ratio below 1 and a negative net cash position. Dilution risk is assessed as low, with no recent share issuance or dilutive events reported. The company's capital structure remains stable, with no material adjustments to valuation metrics in the past year. However, the risk of future dilution remains if the company pursues capital raises to fund expansion or debt reduction.
Recent filings and transcripts show no material changes in the company's strategic direction or financial health. The most recent 10-K filing highlights ongoing investments in facility maintenance and youth programs, with no significant new ventures or regulatory challenges disclosed. Management has not indicated any major capital projects or strategic acquisitions in the near term.
- Canlan Ice Sports Corp maintains a balanced capital structure with a debt-to-equity ratio of 0.98.
- The company's return on equity of 8.59% is below the industry median for Leisure & Recreation.
- Revenue is concentrated in Canada with no international diversification.
- Growth remains flat, with no significant revenue expansion anticipated in the near term.
- Liquidity risk is moderate, with a current ratio of 0.96 and negative net cash after debt.
Bull / Bear case
Generated · model-assistedRevenue grew 25.4% annually over four years, demonstrating strong top-line expansion for the leisure company.
Analysts project 4,362% upside from the current price, reflecting a strong consensus buy recommendation.
The company faces high credit risk, signaling potential difficulties in meeting financial obligations.
Debt-to-equity ratio of 0.98 is significantly higher than the 0.30 median for the leisure cohort.
Cash conversion of 0.24 is well below the 1.04 median, indicating poor cash generation efficiency.
Medium liquidity risk exists as the current ratio of 1.02 barely covers short-term liabilities.
In focus — financials by report
Valuation FY
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
Options
Short squeeze
Earnings-call key lines
Estimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- Net cash is negative after subtracting total debt.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Derivative transactions
- President, NYSE Group · Employee Stock Option (right to buy) Holding → Common StockDisposed 15 882 @ $57,31exercise · 2026-07-16
- General Counsel · Employee Stock Option (right to buy) Holding → Common StockDisposed 2 065 @ $57,31exercise · 2026-05-26
- Chief Technology Officer · Employee Stock Option (right to buy) Holding → Common StockDisposed 4 271 @ $67,00exercise · 2026-05-14
- President · Employee Stock Option (right to buy) Holding → Common StockDisposed 770 @ $129,76exercise · 2026-03-10
- President · Employee Stock Option (right to buy) Holding → Common StockDisposed 1 079 @ $92,63exercise · 2026-03-10
- President · Employee Stock Option (right to buy) Holding → Common StockDisposed 875 @ $114,19exercise · 2026-03-10
- General Counsel · Employee Stock Option (right to buy) Holding → Common StockDisposed 2 065 @ $57,31exercise · 2026-02-26
Actions
Ask Handelsavisen
- Market data
- Market data cache
- Issuer disclosures
- Public news
- Earnings transcripts
- Consensus estimates
- ESG data
- Ev To Operating Cash Flowenterprise_value / operating_cash_flow
- Return On Equitynet_income / total_equity
- Price To Earningsmarket_price / (net_income / shares_outstanding_diluted)
- Price To Bookmarket_price / (adjusted_book_value / shares_outstanding_diluted)
- Dilution Ratio(shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
- Market Priceinput from market-data provider (delayed close or quote-shim mid)
- Canlan Ice Sports Corp Market data — financials · 2026-05-28
Ownership & reference
Top holders
- Institutional Investor · as of 2026-03-310,49 %$988M
- Investment Managers · as of 2026-03-310,31 %$483M
- Investment Managers · as of 2026-03-310,30 %$1 601M
- Investment Managers · as of 2026-03-310,20 %$2M
- Investment Managers · as of 2024-12-310,16 %$557M
- Investment Managers · as of 2026-03-310,15 %$284M
- Institutional Investor · as of 2022-09-300,15 %$0M
- Investment Managers · as of 2026-03-310,14 %$1 090M
- Investment Managers · as of 2026-03-310,14 %$4 019M
- Investment Managers · as of 2026-03-310,14 %$2 279M
- Investment Managers · as of 2024-06-300,13 %$5 955M
- Brokerage Firms · as of 2026-03-310,13 %$433M
- Investment Managers · as of 2026-03-310,13 %$949M
- Investment Managers · as of 2025-12-310,13 %$8 771M
- Investment Managers · as of 2026-03-310,12 %$2 000M
- Investment Managers · as of 2026-03-310,12 %$696M
- Institutional Investor · as of 2026-03-310,12 %$251M
- Investment Managers · as of 2026-03-310,10 %$788M
- Institutional Investor · as of 2026-03-310,09 %$506M
- Brokerage Firms · as of 2026-03-310,09 %$441M
- Investment Managers · as of 2026-03-310,08 %$541M
- Institutional Investor · as of 2026-03-310,08 %$338M
- Investment Managers · as of 2026-03-310,07 %$355M
- Investment Managers · as of 2026-03-310,07 %$291M
- Investment Managers · as of 2026-03-310,07 %$148M
- Funds · as of 2026-03-310,07 %$429M
- Institutional Investor · as of 2026-03-310,05 %$1 036M
- Investment Managers · as of 2026-03-310,05 %$100M
- Investment Managers · as of 2026-03-310,04 %$60M
- Investment Managers · as of 2026-03-310,04 %$123M
- Investment Managers · as of 2026-03-310,02 %$30M
- Investment Managers · as of 2026-03-310,02 %$61M
- Investment Managers · as of 2026-03-310,01 %$28M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$2M
- Institutional Investor · as of 2026-03-310,00 %$2M
- Investment Managers · as of 2026-03-310,00 %$1M
- Institutional Investor · as of 2026-03-310,00 %$0M
Leadership
- Jeffrey C. SprecherChairman of the Board, Chief Executive Officer
Insider activity
- President, NYSE Group · Common StockSold 9 482 @ $141,65$1,3M · 2026-07-16
- President, NYSE Group · Common StockOther 15 882 @ $57,31$910K · 2026-07-16
- President, NYSE Group · Common StockSold 3 000 @ $139,75$419K · 2026-07-16
- President, NYSE Group · Common StockSold 3 200 @ $140,90$451K · 2026-07-16
- President, NYSE Group · Common StockSold 200 @ $142,30$28K · 2026-07-16
- Director · Common StockSold 1 333 @ $139,46$186K · 2026-06-12
- Director · Common StockSold 91 @ $138,50$13K · 2026-06-09
- General Counsel · Common StockSold 2 608 @ $152,00$396K · 2026-05-26
- General Counsel · Common StockOther 2 065 @ $57,31$118K · 2026-05-26
- General Counsel · Common StockSold 1 965 @ $150,97$297K · 2026-05-26
- Director · Common StockSold 667 @ $151,28$101K · 2026-05-22
- Chief Financial Officer · Common StockSold 2 490 @ $156,64$390K · 2026-05-19
- Director · Common StockOther 1 538 · 2026-05-18
- Director · Common StockOther 50 · 2026-05-18
- Director · Common StockOther 1 538 · 2026-05-18
- Director · Common StockOther 1 538 · 2026-05-18
- Director · Common StockOther 1 698 · 2026-05-18
- Director · Common StockOther 64 · 2026-05-18
- Director · Common StockOther 1 538 · 2026-05-18
- Director · Common StockOther 1 698 · 2026-05-18
- Director · Common StockOther 1 698 · 2026-05-18
- Director · Common StockOther 27 · 2026-05-18
- Director · Common StockOther 1 538 · 2026-05-18
- Director · Common StockOther 1 538 · 2026-05-18
- Director · Common StockOther 1 538 · 2026-05-18
Short positioning
Geographic breakdown
Intel & risk
Evidence & claims
From filings & derived data- Return on assets (FY 2025-12-31): 2.4%Derived (calculated)
- Total liabilities (YoY) (2025-12-31 vs 2024-12-31): -3.4%Derived (calculated)
- Net margin (FY 2025-12-31): 26.2%Derived (calculated)
- Return on equity (FY 2025-12-31): 11.5%Derived (calculated)
- Current ratio (FY 2025-12-31): 1.02xDerived (calculated)
- Debt-to-equity (FY 2025-12-31): 3.73xDerived (calculated)
- Capex (YoY) (2025-12-31 vs 2024-12-31): -8.1%Derived (calculated)
- Cash & equivalents (YoY) (2025-12-31 vs 2024-12-31): -0.8%Derived (calculated)
- EPS (basic) (YoY) (2025-12-31 vs 2024-12-31): 20.6%Derived (calculated)
- EPS (diluted) (YoY) (2025-12-31 vs 2024-12-31): 20.7%Derived (calculated)
- Long-term debt (YoY) (2025-12-31 vs 2024-12-31): 7.3%Derived (calculated)
- Net income (YoY) (2025-12-31 vs 2024-12-31): 20.4%Derived (calculated)
- Operating cash flow (YoY) (2025-12-31 vs 2024-12-31): 1.1%Derived (calculated)
- Operating income (YoY) (2025-12-31 vs 2024-12-31): 14.4%Derived (calculated)
- Revenue (YoY) (2025-12-31 vs 2024-12-31): 7.5%Derived (calculated)
- Shareholders' equity (YoY) (2025-12-31 vs 2024-12-31): 4.6%Derived (calculated)
- Total assets (YoY) (2025-12-31 vs 2024-12-31): -1.8%Derived (calculated)
- Net income (annual): USD 3.31BSEC XBRL filing
- Revenue (annual): USD 12.64BSEC XBRL filing
- Shareholders' equity (annual): USD 28.91BSEC XBRL filing
- Current liabilities (annual): USD 84.12BSEC XBRL filing
- Total assets (annual): USD 136.89BSEC XBRL filing
- Shares outstanding (annual): 567MSEC XBRL filing
- Operating cash flow (annual): USD 4.66BSEC XBRL filing