iA Financial Corporation Inc. (IAG.TO) — Fundamental Analysis & Key Financial Ratios

Kaplio overview: iA Financial Corporation Inc.

Market cap $14B · 52 weeks $146 – $218 (0 % below the high) · P/E 18.9× · Dividend 1.9 % · 10 years rising · Next earnings November 9, 2026 · expected EPS $3.70 · Closing price, Oct 28 · accounts published Aug 4.

• Valuation: P/B 2.4× (expensive).
• Business: 5-year op. margin 7.4 % (weak).
• Balance sheet: Debt/Equity 0.25 (solid).
• Earnings: 6 of 8 (on track).

What would it be worth at its usual multiples?

At a P/B justified by its ROE del 13,7 % (1.5×) $134 (-38 %); at its peers' median (1.1×) $94 (-57 %). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.

What matters in insurance: 2 of 5 pass

• Op Margin 5y (Combined Ratio proxy) 7.4 %, fails.
• P/B (Price / Book) 2.4×, fails.
• Book Value / Share growth 7.9 %, borderline.
• Debt / Equity 0.25, passes.
• Dividend growth streak 10 años, passes, near the threshold.

Against its peers (reference peers) — iA Financial Corporation Inc.: P/E 18.9×; P/B 2.4×; ROE 13.7 %; $13.8B. American International Group, Inc. (P/E 14.6×; P/B 1.1×; ROE 7.3 %; $42.4B), Brookfield Wealth Solutions Ltd. (P/E —; P/B 0.8×; ROE 0.7 %; $12.8B), Aegon Ltd. (P/E 11.4×; P/B 1.3×; ROE 12.2 %; $12.3B).

Expensive or cheap against its last ten fiscal years?

Precio / valor contable at each close: today 2.4× · median 1.2× · minimum 0.7× · maximum 2.4× · cheap below 1.1× · expensive above 1.6×. It has been cheaper than today 100% of the time over its last ten fiscal years.

Dividend

solid · Yield 1.9 % (4.34 CAD per share in 2025) · Years raising it 10 · 5-year growth +15 % a year · Free cash flow coverage payout 37 % · With $1,000 invested today you'd collect $18.90 a year ($1.57 a month).