IGM Stock Analysis: IGM Financial | TO
Asset Management | TO, Canada | Market Cap: 19.277m CAD | 12M Return: 55.8% | CA4495861060 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 29.0M
EPS Trend: 97.4%
Qual. Beats: 1
Rev. Trend: 91.4%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Seasonality 11.8 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
IGM Financial Inc. is a Canadian wealth and asset management company that provides investment management and administrative services for investment funds distributed through third-party dealers and financial advisors. Its offerings also include insurance and banking products and services. Asset managers typically oversee investments on behalf of clients and may distribute funds through financial intermediaries. Founded in 1978 and headquartered in Winnipeg, IGM is a subsidiary of Power Financial Corporation.
- Equity market gains lift AUM-linked fees at Mackenzie and IG Wealth
- Client inflows and advisor productivity drive wealth-management growth
- Fund fee competition and operating costs pressure Mackenzie margins
| Net Income: 1.17b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA 0.59 > 1.0 |
| NWC/Revenue: 10.18% < 20% (prev 226.6%; Δ -216.4% < -1%) |
| CFO/TA 0.06 > 3% & CFO 1.23b > Net Income 1.17b |
| Net Debt (6.33b) to EBITDA (1.70b): 3.73 < 3 |
| Current Ratio: 1.28 > 1.5 & < 3 |
| Outstanding Shares: last quarter (233.9m) vs 12m ago -1.41% < -2% |
| Gross Margin: 32.58% > 18% (prev 50.46%; Δ -17.87% > 0.5%) |
| Asset Turnover: 18.64% > 50% (prev 17.99%; Δ 0.65% > 0%) |
| Interest Coverage Ratio: 12.21 > 6 (EBIT TTM 1.60b / Interest Expense TTM 130.8m) |
| A: 0.02 (Total Current Assets 1.84b - Total Current Liabilities 1.44b) / Total Assets 21.8b |
| B: 0.23 (Retained Earnings 5.05b / Total Assets 21.8b) |
| C: 0.08 (EBIT TTM 1.60b / Avg Total Assets 21.0b) |
| D: 0.75 (Book Value of Equity 9.29b / Total Liabilities 12.4b) |
| Altman-Z'' = 2.17 = BBB |
| DSRI: 0.10 (Receivables 314.2m/5.76b, Revenue 3.91b/3.63b) |
| GMI: 1.55 (GM 50.46% / 32.58%) |
| AQI: 2.08 (AQ_t 0.90 / AQ_t-1 0.43) |
| SGI: 1.08 (Revenue 3.91b / 3.63b) |
| TATA: -0.00 (NI 1.17b - CFO 1.23b) / TA 21.8b) |
| Beneish M = -2.57 (Cap -4..+1) = A |
As of November 04, 2026, the stock is trading at CAD 82.35 with a total of 443,546 shares traded. Over the past week, the price has changed by +0.76%, over one month by -2.08%, over three months by -8.77% and over the past year by +55.76%.
Current recommended Stop Loss: 79.60 (which is 3.3% or 1.4 ATR below the current price).
IGM Financial has no consensus analysts rating.
P/E Trailing = 16.9008
P/E Forward = 13.7363
P/S = 4.1739
P/B = 2.0408
P/EG = 2.8093
Revenue TTM = 3.91b CAD
EBIT TTM = 1.60b CAD
EBITDA TTM = 1.70b CAD
Long Term Debt = 5.45b CAD (from longTermDebt, last quarter)
Short Term Debt = 1.44b CAD (from shortTermDebt, last quarter)
Debt = 7.85b CAD (from shortLongTermDebtTotal, last quarter) + Leases 169.2m
Net Debt = 6.33b CAD (calculated: Debt 7.85b - CCE 1.52b)
Enterprise Value = 25.6b CAD (19.3b + Debt 7.85b - CCE 1.52b)
Interest Coverage Ratio = 12.21 (Ebit TTM 1.60b / Interest Expense TTM 130.8m)
EV/FCF = 22.40x (Enterprise Value 25.6b / FCF TTM 1.14b)
FCF Yield = 4.46% (FCF TTM 1.14b / Enterprise Value 25.6b)
FCF Margin = 29.25% (FCF TTM 1.14b / Revenue TTM 3.91b)
Net Margin = 29.82% (Net Income TTM 1.17b / Revenue TTM 3.91b)
Gross Margin = 32.58% ((Revenue TTM 3.91b - Cost of Revenue TTM 2.64b) / Revenue TTM)
Gross Margin QoQ = 54.98% (prev 55.08%)
Tobins Q-Ratio = 1.18 (Enterprise Value 25.6b / Total Assets 21.8b)
Interest Expense / Debt = 1.67% (Interest Expense 130.8m / Debt 7.85b)
Taxrate = 22.69% (343.8m / 1.52b)
NOPAT = 1.23b (EBIT 1.60b * (1 - 22.69%))
Current Ratio = 1.28 (Total Current Assets 1.84b / Total Current Liabilities 1.44b)
Debt / Equity = 0.84 (Debt 7.85b / totalStockholderEquity, last quarter 9.29b)
Debt / EBITDA = 3.73 (Net Debt 6.33b / EBITDA 1.70b)
Debt / FCF = 5.54 (Net Debt 6.33b / FCF TTM 1.14b)
Total Stockholder Equity = 9.03b (last 4 quarters mean from totalStockholderEquity)
RoA = 5.56% (Net Income 1.17b / Total Assets 21.8b)
RoE = 12.91% (Net Income TTM 1.17b / Total Stockholder Equity 9.03b)
RoCE = 11.03% (EBIT 1.60b / Capital Employed (Equity 9.03b + L.T.Debt 5.45b))
RoIC = 5.72% (NOPAT 1.23b / Invested Capital 21.6b)
WACC = 5.76% (E(19.3b)/V(27.1b) * Re(7.58%) + D(7.85b)/V(27.1b) * Rd(1.67%) * (1-Tc(0.23)))
Discount Rate = 7.58% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -71.99 | Cagr: -0.79%
[DCF] Terminal Value 77.97% ; FCFF base≈1.06b ; Y1≈1.22b ; Y5≈1.79b
[DCF] Fair Price = 89.32 (EV 27.0b - Net Debt 6.33b = Equity 20.6b / Shares 230.9m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 97.41 | EPS CAGR: 15.57% | SUE: 2.65 | # QB: 1
Revenue Correlation: 91.41 | Revenue CAGR: 6.79% | SUE: -0.83 | # QB: 0
EPS current Quarter (2026-09-30): EPS=1.45 | Chg30d=-1.10% | Revisions=+70% | Analysts=8
EPS current Year (2026-12-31): EPS=5.45 | Chg30d=-0.66% | Revisions=+70% | GrowthEPS=+18.3% | GrowthRev=+12.2%
EPS next Year (2027-12-31): EPS=6.00 | Chg30d=-1.21% | Revisions=+73% | GrowthEPS=+10.1% | GrowthRev=+7.0%
[Analyst] Revisions Ratio: +88% (up=22, down=0)