There was little in no-moat-rated IGM Financial's second-quarter results that would alter our long-term view of the firm. We are leaving our CAD 42 per share fair value estimate in place. We view the shares as being modestly undervalued right now.
With CAD 236.4 billion in core AUM at the end of March 2024, IGM Financial is the largest non-bank-affiliated domestic asset manager in the Canadian market.
The largest Canadian banks and insurance companies have expanded the depth of their asset-management offerings and are taking share from purer-play asset managers like IGM Financial.
|
Metric
|
IGM
|
IVZ
|
AGF.B
|
|---|---|---|---|
Price/Earnings (Normalized) | 11.49 | 11.23 | 7.95 |
Price/Book Value | 1.39 | 0.75 | 0.61 |
Price/Sales | 2.99 | 1.39 | 1.45 |
Price/Cash Flow | 11.40 | 4.83 | 8.00 |
|
Metric
|
IGM
|
IVZ
|
AGF.B
|
|---|---|---|---|
Quick Ratio | 2.19 | 1.88 | 1.17 |
Current Ratio | 3.28 | 1.88 | 1.19 |
Interest Coverage | 9.51 | −2.26 | 17.96 |
|
Metric
|
IGM
|
IVZ
|
AGF.B
|
|---|---|---|---|
Return on Assets (Normalized) | 4.95% | 2.50% | 4.30% |
Return on Equity (Normalized) | 14.12% | 6.60% | 5.91% |
Return on Invested Capital (Normalized) | 7.34% | 2.96% | 5.56% |
|
1-Day Chart
|
Name
|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|---|
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United States