The TSX Composite Index is trading near record levels, lifted by hopes of more interest rate cuts and a surprisingly resilient economic environment. While most Canadian bank stocks have joined the rally, not every financial stock has yet recovered. One such exception is goeasy (TSX:GSY), which has lagged behind this year, despite being fundamentally strong and consistently profitable.
GSY stock is currently down over 15% from its 52-week highs, making it an attractive opportunity for investors seeking long-term growth and passive income. As a result, the stock currently trades at $173.46 per share with a market cap of $2.8 billion and offers a 3.4% annualized dividend yield. Though not a traditional bank, goeasy has managed to carve out a profitable niche in non-prime lending and has built a strong track record of earnings growth and rising dividends.
In this article, I’ll explain why goeasy could be one of the most attractive financial stocks to buy now and hold for life.
Proven track record of growth and profitability
One of the biggest reasons goeasy looks like a top financial stock to buy today is its consistent performance. The company managed to grow its consumer loan portfolio by 24% YoY (year-over-year), reaching $4.8 billion in the first quarter of 2025. That’s a sizable jump from $3.9 billion a year ago.
Even more recently, goeasy announced that it crossed the $5 billion loan portfolio milestone, which is a clear sign of how fast its lending business is scaling. This kind of steady, organic growth in a niche segment makes it different from traditional bank stocks, especially since goeasy focuses on the underserved non-prime credit market.
Solid business model that’s built to last
When we dig into goeasy’s latest financials, it’s clear the company is expanding, but doing so with a focus on quality. The company saw a net charge-off rate of 8.9% in the latest quarter, slightly better than 9.1% a year ago. This means its credit performance is holding steady even in a tricky economic environment.
During the quarter, goeasy’s total revenue also rose 10% YoY to $392 million. More than 70% of loan advances in the quarter went to new customers, showing solid demand and effective customer acquisition. This resilience clearly highlights how the company continues to grow while managing risk well, which is a rare combination in the financial sector.
Strong capital position and reliable income
Besides these impressive financials, let’s not forget about goeasy’s strong capital position and reliable dividends. The company ended the March quarter with total assets of $5.3 billion and a strong funding capacity of around $2 billion. That gives it plenty of room to continue expanding without overstretching.
goeasy even repurchased $96 million worth of its own shares recently, showing confidence in its valuation. In addition, it offers a reliable 3.4% annualized dividend yield, with quarterly payouts. With all these positives and a strong outlook backing it up, the recent dip in goeasy stock makes it feel like a rare buying opportunity in today’s otherwise pricey market.
