Executive Summary
Intact Financial Corporation, through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada and the United States.
Rewards
Risk Analysis
No risks detected for IFC from our risk checks.
Snowflake Analysis
Established dividend payer with proven track record.
Similar Companies
Share Price & News
How has Intact Financial's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: IFC has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
0.4%
IFC
0.8%
CA Insurance
0.4%
CA Market
1 Year Return
37.4%
IFC
23.4%
CA Insurance
11.2%
CA Market
Return vs Industry: IFC exceeded the Canadian Insurance industry which returned 23.4% over the past year.
Return vs Market: IFC exceeded the Canadian Market which returned 11.2% over the past year.
Shareholder returns
| IFC | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.4% | 0.8% | 0.4% |
| 30 Day | 1.5% | -1.4% | 0.007% |
| 90 Day | 4.6% | 5.5% | 0.4% |
| 1 Year | 40.1%37.4% | 28.6%23.4% | 14.8%11.2% |
| 3 Year | 58.9%47.7% | 19.0%5.9% | 15.9%5.3% |
| 5 Year | 88.8%67.1% | 39.2%15.6% | 34.0%14.2% |
Price Volatility Vs. Market
How volatile is Intact Financial's share price compared to the market and industry in the last 5 years?
Simply Wall St News
5 days ago | Simply Wall St
Should You Buy Intact Financial Corporation (TSE:IFC) For Its Upcoming Dividend In 4 Days?1 week ago | Simply Wall St
Is Intact Financial Corporation's (TSE:IFC) ROE Of 9.3% Impressive?3 weeks ago | Simply Wall St
What Does Intact Financial Corporation's (TSE:IFC) P/E Ratio Tell You?Valuation
Is Intact Financial undervalued compared to its fair value and its price relative to the market?
15.3%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: IFC (CA$137) is trading below our estimate of fair value (CA$161.74)
Significantly Below Fair Value: IFC is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: IFC is poor value based on its PE Ratio (26.7x) compared to the Insurance industry average (14.2x).
PE vs Market: IFC is poor value based on its PE Ratio (26.7x) compared to the Canadian market (15.3x).
Price to Earnings Growth Ratio
PEG Ratio: IFC is poor value based on its PEG Ratio (1.1x)
Price to Book Ratio
PB vs Industry: IFC is overvalued based on its PB Ratio (2.7x) compared to the CA Insurance industry average (1.3x).
Next Steps
Future Growth
How is Intact Financial forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?
23.9%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: IFC's forecast earnings growth (23.9% per year) is above the savings rate (1.4%).
Earnings vs Market: IFC's earnings (23.9% per year) are forecast to grow faster than the Canadian market (9.8% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: IFC's revenue (7.9% per year) is forecast to grow faster than the Canadian market (5% per year).
High Growth Revenue: IFC's revenue (7.9% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: IFC's Return on Equity is forecast to be low in 3 years time (14.6%).
Next Steps
Past Performance
How has Intact Financial performed over the past 5 years?
-0.08%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: IFC has high quality earnings.
Growing Profit Margin: IFC's current net profit margins (6.4%) are higher than last year (6.3%).
Past Earnings Growth Analysis
Earnings Trend: IFC's earnings have declined by -0.08% per year over the past 5 years.
Accelerating Growth: IFC's earnings growth over the past year (8.7%) exceeds its 5-year average (-0.08% per year).
Earnings vs Industry: IFC earnings growth over the past year (8.7%) exceeded the Insurance industry -0.4%.
Return on Equity
High ROE: IFC's Return on Equity (9.3%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Intact Financial's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: IFC has a low level of unsold assets or inventory.
Debt Coverage by Assets: IFC's debt is covered by short term assets (assets are 2.7x debt).
Financial Institutions Analysis
Asset Level: IFC's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if IFC has a sufficient allowance for bad loans.
Low Risk Liabilities: IFC reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if IFC has an acceptable proportion of non-loan assets held.
Low Risk Deposits: IFC has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if IFC has an appropriate level of bad loans.
Next Steps
Dividend
What is Intact Financial's current dividend yield, its reliability and sustainability?
2.22%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: IFC's dividend (2.22%) is higher than the bottom 25% of dividend payers in the Canadian market (2%).
High Dividend: IFC's dividend (2.22%) is low compared to the top 25% of dividend payers in the Canadian market (5.68%).
Stability and Growth of Payments
Stable Dividend: IFC's dividends per share have been stable in the past 10 years.
Growing Dividend: IFC's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (58.2%), IFC's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: IFC's dividends in 3 years are forecast to be well covered by earnings (40.3% payout ratio).
Next Steps
Management
What is the CEO of Intact Financial's salary, the management and board of directors tenure and is there insider trading?
4.8yrs
Average management tenure
CEO
Charles Brindamour (49yo)
11.9yrs
Tenure
CA$8,516,842
Compensation
Mr. Charles Brindamour, B.Sc., has been the Chief Executive Officer at Intact Financial Corporation (also known as, ING Canada Inc) since January 1, 2008. Mr. Brindamour is a Co-founder of Gibraltar Ventur ...
CEO Compensation Analysis
Compensation vs Market: Charles's total compensation ($USD6.46M) is about average for companies of similar size in the Canadian market ($USD7.15M).
Compensation vs Earnings: Charles's compensation has been consistent with company performance over the past year.
Management Age and Tenure
4.8yrs
Average Tenure
Experienced Management: IFC's management team is considered experienced (4.8 years average tenure).
Board Age and Tenure
10.1yrs
Average Tenure
63.5yo
Average Age
Experienced Board: IFC's board of directors are seasoned and experienced ( 10.1 years average tenure).
Insider Trading
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Shares | 3,900 |
| Max Price | CA$127.25 |
| Entity | Individual |
| Shares | 6,300 |
| Max Price | CA$126.28 |
| Entity | Individual |
| Shares | 4,000 |
| Max Price | CA$126.55 |
| Entity | Individual |
| Shares | 1,000 |
| Max Price | CA$118.61 |
| Entity | Individual |
| Shares | 5,000 |
| Max Price | CA$113.15 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Director |
| Shares | 500 |
| Max Price | CA$99.63 |
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Management Team
Mike Miller (60yo)
President of U.S. & Specialty Solutions
- Tenure: 2.3yrs
- Compensation: CA$6.82m
Charles Brindamour (49yo)
CEO & Director
- Tenure: 11.9yrs
- Compensation: CA$8.52m
Mathieu Lamy
Executive VP & COO
- Tenure: 1.9yrs
Louis Gagnon
President of Canadian Operations
- Tenure: 6yrs
- Compensation: CA$3.21m
Anne Fortin
Senior VP of Direct Distribution & Chief Marketing Officer
- Tenure: 6.9yrs
Ken Anderson
VP of Investor Relations & Treasurer
- Tenure: 2.9yrs
Louis Marcotte
Senior VP & CFO
- Tenure: 6yrs
- Compensation: CA$1.59m
David Tremblay
Deputy Senior VP & Chief Investment Officer of Intact Investment Management Inc
- Tenure: 5.9yrs
Frédéric Cotnoir
Senior VP of Corporate & Legal Services and Secretary
- Tenure: 3.6yrs
Christian Menkens
Senior VP & CTO
- Tenure: 0.6yrs
Board Members
Bill Young (64yo)
Independent Director
- Tenure: 1.6yrs
- Compensation: CA$145.91k
Eileen Mercier (72yo)
Independent Director
- Tenure: 15yrs
- Compensation: CA$255.50k
Steve Snyder (70yo)
Independent Director
- Tenure: 10.6yrs
- Compensation: CA$226.00k
Claude Dussault (65yo)
Independent Chairman of the Board
- Tenure: 11.9yrs
- Compensation: CA$417.06k
Carol Stephenson (68yo)
Independent Director
- Tenure: 15yrs
- Compensation: CA$238.00k
Charles Brindamour (49yo)
CEO & Director
- Tenure: 11.9yrs
- Compensation: CA$8.52m
Rob Leary (58yo)
Independent Director
- Tenure: 4.6yrs
- Compensation: CA$226.00k
Fred Singer (56yo)
Independent Director
- Tenure: 6.6yrs
- Compensation: CA$226.00k
Tim Penner (63yo)
Independent Director
- Tenure: 9.6yrs
- Compensation: CA$239.00k
Janet De Silva (59yo)
Independent Director
- Tenure: 6.6yrs
- Compensation: CA$222.00k
Company Information
Intact Financial Corporation's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Intact Financial Corporation
- Ticker: IFC
- Exchange: TSX
- Founded: 1809
- Industry: Property and Casualty Insurance
- Sector: Insurance
- Market Cap: CA$19.593b
- Shares outstanding: 143.02m
- Website: https://www.intactfc.com
Number of Employees
Location
- Intact Financial Corporation
- 700 University Avenue
- Suite 1500-A
- Toronto
- Ontario
- M5G 0A1
- Canada
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| IFC | TSX (The Toronto Stock Exchange) | Yes | Common Shares | CA | CAD | Dec 2004 |
| I5U | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Dec 2004 |
| IFCZ.F | OTCPK (Pink Sheets LLC) | Yes | Common Shares | US | USD | Dec 2004 |
| IFC.PRE | TSX (The Toronto Stock Exchange) | PFD CL A SER 5 | CA | CAD | May 2017 | |
| IFC.PRG | TSX (The Toronto Stock Exchange) | NON CUM PFD A 7 | CA | CAD | May 2018 |
Biography
Intact Financial Corporation, through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada and the United States. It offers personal auto insurance; a ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/12/12 23:59 |
| End of Day Share Price | 2019/12/12 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
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 here.