IGM Financial Inc
TSX:IGM

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IGM Financial Inc Logo
IGM Financial Inc
TSX:IGM
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Price: 47.05 CAD -0.3% Market Closed
Market Cap: 11.1B CAD
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Intrinsic Value

The intrinsic value of one IGM stock under the Base Case scenario is 59.74 CAD. Compared to the current market price of 47.05 CAD, IGM Financial Inc is Undervalued by 21%.

The Intrinsic Value is calculated as the average of DCF and Relative values:

IGM Intrinsic Value
59.74 CAD
Undervaluation 21%
Intrinsic Value
Price
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Base Case
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IGM Financial Inc

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Backtest Conclusion
Very Attractive
Current Valuation
+45%
Avg Valuation
-12%
Worst Valuation
-49%
Best Valuation
+45%

Stock is trading at its lowest valuation over the past 5 years.

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Fundamental Analysis

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Business Breakdown

IGM Financial Inc. is a prominent Canadian financial services company that operates through a diversified portfolio of wealth management solutions. Founded in 2001, it has established itself as a leading player in the investment landscape, primarily through its flagship subsidiary, Investors Group. This division offers a comprehensive suite of financial products and services, including mutual funds, retirement planning, and investment advisory services, designed to cater to the unique needs of individual and institutional clients. With a firm belief in putting clients' interests first, IGM emphasizes a relationship-driven approach, fostering long-term connections and trust that help clients...

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Financials
Annual
Quarterly
TTM
Annual
Quarterly
TTM

Balance Sheet Decomposition
IGM Financial Inc

Current Assets 815.9m
Cash & Short-Term Investments 454.2m
Receivables 361.7m
Non-Current Assets 17.9B
Long-Term Investments 7.8B
PP&E 302m
Intangibles 3.9B
Other Non-Current Assets 5.8B
Current Liabilities 469m
Accounts Payable 437.7m
Other Current Liabilities 31.3m
Non-Current Liabilities 11.1B
Long-Term Debt 7.2B
Other Non-Current Liabilities 3.9B
Efficiency

Earnings Waterfall
IGM Financial Inc

Revenue
3.3B CAD
Cost of Revenue
-1.4B CAD
Gross Profit
1.9B CAD
Operating Expenses
-885.5m CAD
Operating Income
1B CAD
Other Expenses
29.8m CAD
Net Income
1.1B CAD

Free Cash Flow Analysis
IGM Financial Inc

Last Value
3-Years Average
FCF Margin
Conversion Rate
Earnings Calls

IGM Financial's Q3 earnings highlight a solid performance with adjusted EPS of $1.03, up 12% year-over-year. Total client assets rose 23% to $462 billion. IG Wealth Management achieved a 19% increase in assets under administration, driven by client acquisition and market growth. The company generated $3.4 billion in gross inflows, showing client confidence returning. With a 4% expense growth guidance for 2024, IGM is focused on strategic investments while maintaining a robust $160 million capital return to shareholders through dividends and buybacks. Overall, the company anticipates continued growth amidst a favorable market environment.

What is Earnings Call?
Fundamental Scores

IGM Profitability Score
Profitability Due Diligence

IGM Financial Inc's profitability score is 60/100. The higher the profitability score, the more profitable the company is.

Positive Gross Profit
Positive Free Cash Flow
Positive Operating Income
Positive Net Income
60/100
Profitability
Score

IGM Financial Inc's profitability score is 60/100. The higher the profitability score, the more profitable the company is.

IGM Solvency Score
Solvency Due Diligence

IGM Financial Inc's solvency score is 33/100. The higher the solvency score, the more solvent the company is.

Short-Term Solvency
Long-Term Solvency
Average D/E
Low Altman Z-Score
33/100
Solvency
Score

IGM Financial Inc's solvency score is 33/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

IGM Price Targets Summary
IGM Financial Inc

Wall Street analysts forecast IGM stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for IGM is 51.17 CAD with a low forecast of 46.46 CAD and a high forecast of 58.8 CAD.

Lowest
Price Target
46.46 CAD
1% Downside
Average
Price Target
51.17 CAD
9% Upside
Highest
Price Target
58.8 CAD
25% Upside
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Dividends

Dividend Yield
Lowest
Average
Highest
Dividend Per Share
N/A
Growth 3Y
Growth 5Y
Growth 10Y
Dividend Safety Score
Very
Unsafe
Unsafe
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Very
Safe
0
25
50
75
100
Previous Payment
-
Today
Next Payment
-
Today
Nov 23, 2024
Previous Payment
-
Next Payment
-
Ex-Dividend Date
-
Shareholder Yield

Current shareholder yield for IGM is .

Shareholder yield represents the total return a company provides to its shareholders, calculated as the sum of dividend yield, buyback yield, and debt paydown yield. What is shareholder yield?

Shareholder Yield
Dividend Yield
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Highest
Buyback Yield
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Debt Paydown Yield
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Highest

Profile

IGM Financial Inc Logo
IGM Financial Inc

Country

Canada

Industry

Financial Services

Market Cap

11.1B CAD

Dividend Yield

5.95%

Description

IGM Financial, Inc. operates as a financial services company, which engages in the management and distribution of mutual funds and other managed asset products. The company is headquartered in Winnipeg, Manitoba. The firm operates through its wholly owned subsidiaries, Investors Group Inc. and Mackenzie Financial Corporation (Mackenzie). The company operates through three segments: Wealth Management, Asset Management and Strategic Investments and Other. Its Wealth Management segment includes the activities of operating companies that are principally focused on providing financial planning and related services to Canadian households. Its Asset Management segment includes the activities of operating companies primarily focused on providing investment management services and represents the operations of Mackenzie Investments. Its Strategic Investments and Other segment represents investments made by the Company, including China Asset Management Co., Ltd., Great-West Lifeco Inc., Northleaf Capital Group Ltd., Wealthsimple Financial Corp. and Portag3 Ventures LPs.

Contact

MANITOBA
Winnipeg
447 Portage Avenue
+12049568328.0
www.igmfinancial.com

IPO

1986-11-13

Employees

3 525

Officers

President, CEO & Director
Mr. James P. O'Sullivan
Executive VP & CFO
Mr. Keith David Bernard Potter
President & CEO of IG Wealth Management
Mr. Damon Murchison
President & CEO of Mackenzie Investments
Mr. Luke Gould
Executive VP & COO
Ms. Nancy Elizabeth McCuaig
Executive VP & Chief Information Officer
Sam Burns
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Executive VP & General Counsel
Ms. Rhonda Suzanne Goldberg
Executive VP & Chief Marketing Officer
Mr. Douglas Gordon McIntosh Milne
Executive VP & Chief Human Resources Officer
Ms. Cynthia Currie
Executive Vice-President of Products & Solutions for Mackenzie Investments
Ms. Kristin Elizabeth Ashcroft
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See Also

Discover More
What is the Intrinsic Value of one IGM stock?

The intrinsic value of one IGM stock under the Base Case scenario is 59.74 CAD.

Is IGM stock undervalued or overvalued?

Compared to the current market price of 47.05 CAD, IGM Financial Inc is Undervalued by 21%.

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