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AGF MANAGEMENT LTD-CLASS B (AGF-B.CA) Stock Fundamental Analysis

TSX:AGF-B - Toronto Stock Exchange - CA0010921058 - Common Stock - Currency: CAD

11.99  -0.47 (-3.77%)

Fundamental Rating

6

Taking everything into account, AGF-B scores 6 out of 10 in our fundamental rating. AGF-B was compared to 82 industry peers in the Capital Markets industry. While AGF-B belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. AGF-B may be a bit undervalued, certainly considering the very reasonable score on growth AGF-B also has an excellent dividend rating. With these ratings, AGF-B could be worth investigating further for value and dividend investing!.


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

AGF-B had positive earnings in the past year.
In the past year AGF-B had a positive cash flow from operations.
AGF-B had positive earnings in each of the past 5 years.
AGF-B had a positive operating cash flow in each of the past 5 years.
AGF-B.CA Yearly Net Income VS EBIT VS OCF VS FCFAGF-B.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M

1.2 Ratios

With a decent Return On Assets value of 5.80%, AGF-B is doing good in the industry, outperforming 74.39% of the companies in the same industry.
With a decent Return On Equity value of 8.54%, AGF-B is doing good in the industry, outperforming 70.73% of the companies in the same industry.
The Return On Invested Capital of AGF-B (4.82%) is better than 73.17% of its industry peers.
AGF-B had an Average Return On Invested Capital over the past 3 years of 4.73%. This is below the industry average of 7.80%.
The 3 year average ROIC (4.73%) for AGF-B is below the current ROIC(4.82%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 5.8%
ROE 8.54%
ROIC 4.82%
ROA(3y)5.67%
ROA(5y)6.56%
ROE(3y)7.72%
ROE(5y)8.82%
ROIC(3y)4.73%
ROIC(5y)3.69%
AGF-B.CA Yearly ROA, ROE, ROICAGF-B.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

Looking at the Profit Margin, with a value of 18.97%, AGF-B is in the better half of the industry, outperforming 68.29% of the companies in the same industry.
In the last couple of years the Profit Margin of AGF-B has grown nicely.
The Operating Margin of AGF-B (19.56%) is comparable to the rest of the industry.
AGF-B's Operating Margin has improved in the last couple of years.
With a decent Gross Margin value of 71.91%, AGF-B is doing good in the industry, outperforming 78.05% of the companies in the same industry.
In the last couple of years the Gross Margin of AGF-B has grown nicely.
Industry RankSector Rank
OM 19.56%
PM (TTM) 18.97%
GM 71.91%
OM growth 3Y35.46%
OM growth 5Y16.16%
PM growth 3Y30.15%
PM growth 5Y10.06%
GM growth 3Y9.65%
GM growth 5Y4.26%
AGF-B.CA Yearly Profit, Operating, Gross MarginsAGF-B.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60

6

2. Health

2.1 Basic Checks

The number of shares outstanding for AGF-B has been increased compared to 1 year ago.
The number of shares outstanding for AGF-B has been reduced compared to 5 years ago.
Compared to 1 year ago, AGF-B has an improved debt to assets ratio.
AGF-B.CA Yearly Shares OutstandingAGF-B.CA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M
AGF-B.CA Yearly Total Debt VS Total AssetsAGF-B.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B

2.2 Solvency

AGF-B has an Altman-Z score of 1.98. This is not the best score and indicates that AGF-B is in the grey zone with still only limited risk for bankruptcy at the moment.
The Altman-Z score of AGF-B (1.98) is better than 70.73% of its industry peers.
The Debt to FCF ratio of AGF-B is 1.50, which is an excellent value as it means it would take AGF-B, only 1.50 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of AGF-B (1.50) is better than 76.83% of its industry peers.
AGF-B has a Debt/Equity ratio of 0.14. This is a healthy value indicating a solid balance between debt and equity.
With a decent Debt to Equity ratio value of 0.14, AGF-B is doing good in the industry, outperforming 63.41% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.14
Debt/FCF 1.5
Altman-Z 1.98
ROIC/WACCN/A
WACCN/A
AGF-B.CA Yearly LT Debt VS Equity VS FCFAGF-B.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

2.3 Liquidity

A Current Ratio of 1.36 indicates that AGF-B should not have too much problems paying its short term obligations.
With a decent Current ratio value of 1.36, AGF-B is doing good in the industry, outperforming 62.20% of the companies in the same industry.
A Quick Ratio of 1.36 indicates that AGF-B should not have too much problems paying its short term obligations.
AGF-B's Quick ratio of 1.36 is fine compared to the rest of the industry. AGF-B outperforms 62.20% of its industry peers.
Industry RankSector Rank
Current Ratio 1.36
Quick Ratio 1.36
AGF-B.CA Yearly Current Assets VS Current LiabilitesAGF-B.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M

4

3. Growth

3.1 Past

AGF-B shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 6.45%.
The Earnings Per Share has been growing by 19.14% on average over the past years. This is quite good.
Looking at the last year, AGF-B shows a quite strong growth in Revenue. The Revenue has grown by 16.46% in the last year.
Measured over the past years, AGF-B shows a small growth in Revenue. The Revenue has been growing by 4.75% on average per year.
EPS 1Y (TTM)6.45%
EPS 3Y45.98%
EPS 5Y19.14%
EPS Q2Q%-5.88%
Revenue 1Y (TTM)16.46%
Revenue growth 3Y4.05%
Revenue growth 5Y4.75%
Sales Q2Q%19.68%

3.2 Future

AGF-B is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 6.75% yearly.
The Revenue is expected to grow by 4.08% on average over the next years.
EPS Next Y4.38%
EPS Next 2Y0.81%
EPS Next 3Y6.75%
EPS Next 5YN/A
Revenue Next Year3.56%
Revenue Next 2Y2.67%
Revenue Next 3Y4.08%
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
AGF-B.CA Yearly Revenue VS EstimatesAGF-B.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 200M 400M 600M
AGF-B.CA Yearly EPS VS EstimatesAGF-B.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0.5 1 1.5 2

7

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 7.27, the valuation of AGF-B can be described as very cheap.
Compared to the rest of the industry, the Price/Earnings ratio of AGF-B is on the same level as its industry peers.
The average S&P500 Price/Earnings ratio is at 26.31. AGF-B is valued rather cheaply when compared to this.
Based on the Price/Forward Earnings ratio of 7.02, the valuation of AGF-B can be described as very cheap.
Based on the Price/Forward Earnings ratio, AGF-B is valued a bit cheaper than the industry average as 69.51% of the companies are valued more expensively.
AGF-B is valuated cheaply when we compare the Price/Forward Earnings ratio to 22.13, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 7.27
Fwd PE 7.02
AGF-B.CA Price Earnings VS Forward Price EarningsAGF-B.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, AGF-B is valued cheaply inside the industry as 86.59% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, AGF-B is valued cheaply inside the industry as 82.93% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 6.88
EV/EBITDA 7.97
AGF-B.CA Per share dataAGF-B.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

4.3 Compensation for Growth

The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
The decent profitability rating of AGF-B may justify a higher PE ratio.
PEG (NY)1.66
PEG (5Y)0.38
EPS Next 2Y0.81%
EPS Next 3Y6.75%

8

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 4.01%, AGF-B is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 3.22, AGF-B pays a better dividend. On top of this AGF-B pays more dividend than 81.71% of the companies listed in the same industry.
AGF-B's Dividend Yield is rather good when compared to the S&P500 average which is at 2.40.
Industry RankSector Rank
Dividend Yield 4.01%

5.2 History

On average, the dividend of AGF-B grows each year by 7.13%, which is quite nice.
AGF-B has paid a dividend for at least 10 years, which is a reliable track record.
AGF-B has not decreased its dividend in the past 5 years, so it has a somewhat stable track record.
Dividend Growth(5Y)7.13%
Div Incr Years4
Div Non Decr Years8
AGF-B.CA Yearly Dividends per shareAGF-B.CA Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.1 0.2 0.3 0.4 0.5

5.3 Sustainability

29.95% of the earnings are spent on dividend by AGF-B. This is a low number and sustainable payout ratio.
AGF-B's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP29.95%
EPS Next 2Y0.81%
EPS Next 3Y6.75%
AGF-B.CA Yearly Income VS Free CF VS DividendAGF-B.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M
AGF-B.CA Dividend Payout.AGF-B.CA Dividend Payout, showing the Payout Ratio.AGF-B.CA Dividend Payout.PayoutRetained Earnings

AGF MANAGEMENT LTD-CLASS B

TSX:AGF-B (6/13/2025, 7:00:00 PM)

11.99

-0.47 (-3.77%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)04-08 2025-04-08/bmo
Earnings (Next)06-25 2025-06-25
Inst Owners13.35%
Inst Owner ChangeN/A
Ins Owners0.52%
Ins Owner ChangeN/A
Market Cap783.91M
Analysts81.43
Price Target13.05 (8.84%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.01%
Yearly Dividend0.45
Dividend Growth(5Y)7.13%
DP29.95%
Div Incr Years4
Div Non Decr Years8
Ex-Date04-14 2025-04-14 (0.125)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)13.81%
Min EPS beat(2)11.55%
Max EPS beat(2)16.07%
EPS beat(4)2
Avg EPS beat(4)6.21%
Min EPS beat(4)-2.03%
Max EPS beat(4)16.07%
EPS beat(8)5
Avg EPS beat(8)13.55%
EPS beat(12)8
Avg EPS beat(12)10.46%
EPS beat(16)11
Avg EPS beat(16)7.55%
Revenue beat(2)1
Avg Revenue beat(2)-5.48%
Min Revenue beat(2)-11.4%
Max Revenue beat(2)0.45%
Revenue beat(4)2
Avg Revenue beat(4)-4.47%
Min Revenue beat(4)-11.4%
Max Revenue beat(4)2.95%
Revenue beat(8)3
Avg Revenue beat(8)-3.72%
Revenue beat(12)3
Avg Revenue beat(12)-4.87%
Revenue beat(16)3
Avg Revenue beat(16)-4.89%
PT rev (1m)1.32%
PT rev (3m)-5.25%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-9.31%
EPS NY rev (1m)0%
EPS NY rev (3m)-1.77%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)2.76%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.98%
Valuation
Industry RankSector Rank
PE 7.27
Fwd PE 7.02
P/S 1.52
P/FCF 6.88
P/OCF 6.73
P/B 0.68
P/tB 7.85
EV/EBITDA 7.97
EPS(TTM)1.65
EY13.76%
EPS(NY)1.71
Fwd EY14.24%
FCF(TTM)1.74
FCFY14.53%
OCF(TTM)1.78
OCFY14.85%
SpS7.9
BVpS17.54
TBVpS1.53
PEG (NY)1.66
PEG (5Y)0.38
Profitability
Industry RankSector Rank
ROA 5.8%
ROE 8.54%
ROCE 6.3%
ROIC 4.82%
ROICexc 5%
ROICexgc 15.43%
OM 19.56%
PM (TTM) 18.97%
GM 71.91%
FCFM 22.04%
ROA(3y)5.67%
ROA(5y)6.56%
ROE(3y)7.72%
ROE(5y)8.82%
ROIC(3y)4.73%
ROIC(5y)3.69%
ROICexc(3y)4.94%
ROICexc(5y)3.89%
ROICexgc(3y)19.06%
ROICexgc(5y)16.48%
ROCE(3y)6.18%
ROCE(5y)4.81%
ROICexcg growth 3Y16.59%
ROICexcg growth 5Y13.64%
ROICexc growth 3Y31.27%
ROICexc growth 5Y17.72%
OM growth 3Y35.46%
OM growth 5Y16.16%
PM growth 3Y30.15%
PM growth 5Y10.06%
GM growth 3Y9.65%
GM growth 5Y4.26%
F-Score6
Asset Turnover0.31
Health
Industry RankSector Rank
Debt/Equity 0.14
Debt/FCF 1.5
Debt/EBITDA 1.49
Cap/Depr 26.48%
Cap/Sales 0.49%
Interest Coverage 24.08
Cash Conversion 105.26%
Profit Quality 116.24%
Current Ratio 1.36
Quick Ratio 1.36
Altman-Z 1.98
F-Score6
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)67.14%
Cap/Depr(5y)73.64%
Cap/Sales(3y)1.64%
Cap/Sales(5y)1.76%
Profit Quality(3y)94.38%
Profit Quality(5y)84.46%
High Growth Momentum
Growth
EPS 1Y (TTM)6.45%
EPS 3Y45.98%
EPS 5Y19.14%
EPS Q2Q%-5.88%
EPS Next Y4.38%
EPS Next 2Y0.81%
EPS Next 3Y6.75%
EPS Next 5YN/A
Revenue 1Y (TTM)16.46%
Revenue growth 3Y4.05%
Revenue growth 5Y4.75%
Sales Q2Q%19.68%
Revenue Next Year3.56%
Revenue Next 2Y2.67%
Revenue Next 3Y4.08%
Revenue Next 5YN/A
EBIT growth 1Y11.7%
EBIT growth 3Y40.94%
EBIT growth 5Y21.68%
EBIT Next Year45.26%
EBIT Next 3Y13.66%
EBIT Next 5YN/A
FCF growth 1Y86.32%
FCF growth 3Y48.19%
FCF growth 5Y11.23%
OCF growth 1Y57.3%
OCF growth 3Y33.83%
OCF growth 5Y11.16%