IGM Financial Inc.

TSX:IGM Stock Report

Market Cap: CA$17.1b

IGM Financial Future Growth

Future criteria checks 1/6

IGM Financial is forecast to grow earnings and revenue by 3.9% and 0.8% per annum respectively. EPS is expected to grow by 4.2% per annum. Return on equity is forecast to be 11.7% in 3 years.

Key information

3.9%

Earnings growth rate

4.21%

EPS growth rate

Capital Markets earnings growth12.3%
Revenue growth rate0.8%
Future return on equity11.70%
Analyst coverage

Good

Last updated29 Apr 2026

Recent future growth updates

Recent updates

IGM: Higher Payouts And Refined Assumptions Will Support Steady Returns

IGM Financial's updated analyst price target is CA$69.75, with the figure supported by a series of recent target increases from multiple firms, as analysts point to refined assumptions around discount rates and future P/E expectations. Analyst Commentary Recent target changes cluster between about CA$67 and CA$76, which lines up with the updated average price target of CA$69.75 and gives you a sense of how the Street is framing valuation and execution risk around IGM Financial.

IGM: Higher Payouts And Fine Tuned Models Will Support Steady Returns

Analyst price targets for IGM Financial have been raised by several firms, lifting the consensus closer to CA$69.75 as analysts point to updated assumptions around discount rates, margins and P/E multiples. Analyst Commentary Recent price target changes cluster around the CA$67 to CA$76 range, with several firms adjusting their models for IGM Financial while maintaining existing ratings.

IGM: Higher Payouts And Buybacks Will Support A Steady Return Profile

The analyst price target for IGM Financial is now set at CA$69.75. This reflects a blended view of recent Street target increases into the CA$67 to CA$76 range, supported by analysts citing updated assumptions for discount rates and valuation multiples.

IGM: Higher Payouts And Buybacks Will Support A Measured Total Return Outlook

Analysts have nudged their average price target on IGM Financial higher, with recent CA$1 to CA$3 increases at several firms supporting a refreshed fair value anchor of CA$69.75. This is based on slightly updated discount rate, revenue growth, profit margin, and future P/E assumptions.

IGM: Higher Profit Assumptions And Capital Returns Will Shape A Measured Outlook

The analyst price target on IGM Financial has edged higher by about CA$1.63 to CA$69.75, as analysts factor in a slightly lower discount rate, a higher assumed profit margin, and a modestly lower future P/E multiple following recent target increases from several firms. Analyst Commentary Recent target changes cluster in a relatively tight CA$67 to CA$76 range, which indicates that analysts are updating their models in light of new assumptions on discount rates, profit margins, and valuation multiples.

IGM: Higher Fair Value And Buybacks Will Support A Measured Outlook

Narrative Update The analyst price target for IGM Financial has been raised to C$68.13 from C$62.63, with analysts citing updated assumptions for revenue growth, profit margins, the discount rate and future P/E, supported by recent price target increases from several research firms. Analyst Commentary Recent research updates on IGM Financial point to a series of upward price target revisions, with bullish analysts refining their assumptions around revenue growth, profitability and valuation multiples.

IGM: Steady Buybacks And Modest Assumption Shifts Will Shape A Balanced Outlook

Narrative Update The analyst price target for IGM Financial has been adjusted slightly higher to $62.63 from $61.75. Analysts point to refreshed price targets in the C$57 to C$67 range and updated assumptions for discount rate, revenue growth, profit margin and future P/E to support the change.

IGM: Higher Price Assumptions And Buybacks Will Support A Balanced Return Profile

Analysts have lifted their blended price targets on IGM Financial into a C$54 to C$67 range, a C$3 move at the low and high ends. They cite updated assessments of fair value, discount rate and forward P/E assumptions.

Earnings Working Against IGM Financial Inc.'s (TSE:IGM) Share Price

Jan 05
Earnings Working Against IGM Financial Inc.'s (TSE:IGM) Share Price

IGM: Buybacks And Earnings Resilience Will Drive A Balanced Return Profile

IGM Financial's analyst price target has been raised further, with recent Street updates moving targets by C$3 to C$5 per share as analysts cite steady revenue growth, resilient margins, and a modestly lower discount rate, which together support a slightly higher valuation multiple. Analyst Commentary Recent Street revisions reflect a broadly constructive stance on IGM Financial, with multiple firms lifting their price targets in quick succession and reiterating neutral to positive ratings.

IGM Financial (TSE:IGM) Will Pay A Dividend Of CA$0.5625

Dec 15
IGM Financial (TSE:IGM) Will Pay A Dividend Of CA$0.5625

IGM: Buybacks And Sector Headwinds Will Shape Next Phase Of Performance

IGM Financial's analyst price target has risen meaningfully, with recent revisions ranging from C$54 to C$67. Analysts point to modest improvements in long term earnings expectations and valuation multiples, despite largely unchanged fair value estimates.

IGM: Share Repurchases And Sector Trends Will Define Next Phase Of Performance

IGM Financial's analyst price target has been adjusted slightly to C$61.75 from C$61.86, as analysts cite improving revenue growth and a modest uptick in profit margins as reasons for the revised outlook. Analyst Commentary Recent updates from Street research have highlighted both positive momentum and lingering concerns regarding IGM Financial's performance and outlook.

IGM: Revenue Momentum And Share Repurchases Will Shape Outlook Amid Sector Caution

IGM Financial's analyst price target has been increased from approximately C$56.71 to C$61.86, as analysts cite improved revenue growth expectations and stable profit margins, which support a higher valuation. Analyst Commentary Recent analyst activity has focused on upward revisions to IGM Financial's price targets, reflecting shifting sentiment around the company's prospects.

IGM Financial (TSE:IGM) Will Pay A Dividend Of CA$0.5625

Nov 10
IGM Financial (TSE:IGM) Will Pay A Dividend Of CA$0.5625

Share Repurchases And Market Shifts Will Shape Future Performance Outlook

Analysts have increased their price target for IGM Financial, raising it by approximately C$2 to C$56.71. This change reflects recent research updates and a more favorable outlook on the company's growth and profitability metrics.

Shifting Investor Trends Will Pressure Traditional Revenue Models

The analyst price target for IGM Financial increased by approximately $1. Analysts cited adjusted expectations from recent Street research reports that support the upward revision.

IGM Financial Inc.'s (TSE:IGM) Shares Lagging The Market But So Is The Business

Sep 10
IGM Financial Inc.'s (TSE:IGM) Shares Lagging The Market But So Is The Business

Shifting Investor Trends Will Pressure Traditional Revenue Models

Analysts have raised IGM Financial’s price target to CA$53.43, citing improved execution, stabilized net flows, and better operating results, though ongoing market pressures lead to only cautious optimism. Analyst Commentary Improved execution and completed turnarounds at both Wealth Management and Asset Management units have stabilized net flows.

IGM Financial (TSE:IGM) Is Due To Pay A Dividend Of CA$0.5625

Aug 12
IGM Financial (TSE:IGM) Is Due To Pay A Dividend Of CA$0.5625

IGM Financial's (TSE:IGM) Dividend Will Be CA$0.5625

Jun 27
IGM Financial's (TSE:IGM) Dividend Will Be CA$0.5625
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Market Optimism Crumbles As Merger Risks And Operational Costs Threaten Growth

Improvements in operating environment could enhance investor sentiment and growth, but failure to realize conditions may impact revenue and growth negatively.

Earnings and Revenue Growth Forecasts

TSX:IGM - Analysts future estimates and past financials data (CAD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20284,2671,2559549901
12/31/20274,2651,2627069025
12/31/20264,0281,1869647936
12/31/20254,3151,1019151,035N/A
9/30/20254,1461,0339321,051N/A
6/30/20254,0249749391,056N/A
3/31/20253,9469449711,091N/A
12/31/20243,8779349741,092N/A
9/30/20243,7138798801,013N/A
6/30/20243,627851752912N/A
3/31/20243,581771711857N/A
12/31/20233,702926684837N/A
9/30/20233,661947674843N/A
6/30/20233,637951693831N/A
3/31/20233,6131,018640784N/A
12/31/20223,463856593738N/A
9/30/20223,626903728833N/A
6/30/20223,778959842939N/A
3/31/20223,877992867956N/A
12/31/20213,895979858944N/A
9/30/20213,820939760853N/A
6/30/20213,705860595703N/A
3/31/20213,551806581699N/A
12/31/20203,450764629737N/A
9/30/20203,407727592681N/A
6/30/20203,358739668749N/A
3/31/20203,296740692774N/A
12/31/20193,393747629712N/A
9/30/20193,235735N/A733N/A
6/30/20193,254731N/A734N/A
3/31/20193,400749N/A696N/A
12/31/20183,414767N/A785N/A
9/30/20183,411638N/A774N/A
6/30/20183,352613N/A723N/A
3/31/20183,326610N/A673N/A
12/31/20173,292602N/A672N/A
9/30/20173,295784N/A710N/A
6/30/20173,298809N/A749N/A
3/31/20173,244781N/A823N/A
12/31/20163,173770N/A737N/A
9/30/20163,122711N/A760N/A
6/30/20163,098713N/A698N/A
3/31/20163,116738N/A609N/A
12/31/20153,160772N/A710N/A
9/30/20153,154747N/A621N/A
6/30/20153,153767N/A759N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: IGM's forecast earnings growth (3.9% per year) is above the savings rate (2.9%).

Earnings vs Market: IGM's earnings (3.9% per year) are forecast to grow slower than the Canadian market (10.2% per year).

High Growth Earnings: IGM's earnings are forecast to grow, but not significantly.

Revenue vs Market: IGM's revenue (0.8% per year) is forecast to grow slower than the Canadian market (5.1% per year).

High Growth Revenue: IGM's revenue (0.8% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: IGM's Return on Equity is forecast to be low in 3 years time (11.7%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/04/30 10:51
End of Day Share Price 2026/04/30 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

IGM Financial Inc. is covered by 14 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
John AikenBarclays
Tom MacKinnonBMO Capital Markets Equity Research
Samira AminiBofA Global Research