# IGM Financial Inc. (IGM.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Financial Services / Capital Markets. Price C$87.45, market value C$20.2 billion.

## Valuation
- **P/E (trailing): 17.7×** (5-yr avg 9.6×, 3-yr avg 10.2×). IGM Financial Inc. trades at 17.7× trailing earnings, well above its own five-year average of 9.6×: investors are paying up relative to the company's past. The Financial Services median in the September 2026 study was 13.1×. Forward P/E is 14.4×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.80**. A PEG of 0.80 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 5.1×**. Each dollar of revenue is priced at 5.1×.
- **Price / book: 2.2×**. The shares trade at 2.2× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 14.3×**. Enterprise value is 14.3× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 5.6%** (5-yr avg 8.7%). Free cash flow equals 5.6% of the market value, below its five-year average of 8.7%, so the shares are pricier on cash than usual. Above 5% is generally attractive.
- **Earnings yield: 5.6%**. The inverse of the P/E: 5.6% of the price is earned each year.

## Profitability
- **Gross margin: 42.9%**. IGM Financial Inc. keeps 42.9% of revenue after the direct cost of what it sells.
- **Operating margin: 32.5%**. 32.5% of revenue is left after running the business, an exceptional level.
- **Net margin: 28.8%**. 28.8% of each dollar of sales reaches the bottom line.
- **Return on equity: 12.3%**. 12.3% on shareholders' equity is solid.
- **Return on invested capital: 7.9%**. Return on all capital, debt included, is 7.9%.
- **Return on assets: 5.2%**. Each dollar of assets produces 5.2% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 9.4%** (3-yr 6.7%/yr, 5-yr 3.9%/yr). Revenue grew 9.4% over the last year, against 3.9% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 18.1%** (3-yr 8.5%/yr, 5-yr 7.6%/yr). Earnings per share rose 18.1%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): 15.6%/yr**. Free cash flow has compounded at 15.6% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Piotroski F-score: 8/9**. 8 of 9 fundamental checks pass: strong and improving financials.
- **Cash and short-term investments: C$3.7 billion**. Leverage ratios are shown differently for banks and insurers, whose balance sheets are built on deposits and reserves; use return on equity and the regulatory capital in the filings instead.

## Dividends
- **Dividend yield: 2.84%** (C$2.37 per share, trailing). IGM Financial Inc. yields 2.84%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 48%** (48% of free cash flow). 48% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 12**. 12 straight years of increases, a record that survived at least one recession.
- **Dividend growth (5 yr): 0.0%/yr** (1-yr 0.0%). The dividend has not grown over five years.
- **Shareholder yield: 4.8%**. Dividends plus net buybacks return 4.8% of the market value a year.

## Price and momentum
- **Total return (1 yr): 80.9%** (YTD 44.0%, 3-mo 8.7%). The shares are up 80.9% over twelve months including dividends.
- **From 52-week high: -5.0%** (76.4% above the low). Trading within 5% of its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 53**. An RSI of 53 is neutral.
- **Beta (1 yr): 0.95** (volatility 25%). Beta of 0.95 against the S&P/TSX Composite: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=IGM.TO · Page: https://foliofundamentals.com/stocks/igm.to

Not investment advice.