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GWO.TO (GWO) Fair Value & Analysis

Financial Services · CA · Market cap C$83.0B (≈ $60.0B) · ISIN CA39138C1068

What is GWO.TO really worth?

GT GWO.TO GWO · TO
PriceC$91.42
Fair ValueC$39.53
Upside−56.8%
Quality53/100

A solid business, but trading 131% above our fair value of C$39.53.

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Strengths

Solidly profitable · 12.4% net margin
Low debt · generates free cash flow

Risks

!Weak Growth (revenue 5y −8.4 %/yr)
!Trails peers (3/15)
!Moderate moat 58/100

For context

·2.67% dividend yield
Evidence: High Range C$29.65 – C$49.41

Fair value as of: Aug 28, 2026

From 6 valuation models · updated 8 days ago

Share price −2.0% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (C$49.41). The favourable scenario is already priced in.
  • Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Price vs Fair Value (5 years)

C$93.29 C$23.92 Fair Value C$39.53 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 28, 2026.

How to read this chart

60‑month range C$23.92 – C$93.29 · fair‑value band C$29.65 – C$49.41 · the C$91.42 price screens above the C$39.53 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 28, 2026.

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Analysis

GWO.TO (GWO) currently trades at C$91.42, while our model-based Fair Value estimate is C$39.53, implying the stock looks roughly 131.3% overvalued today. The Quality Score stands at 53/100 (solid quality), in the Financial Services sector. Bull case: the Multiples group reads highest at a median of C$46.55 per share, and 0 of the 6 models we run sit above the C$91.42 price. Bear case: the Asset-Based group reads lowest at C$22.28, and 6 of the 6 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, GWO.TO generated revenue of C$36.0B at a net margin of 12.4%. Revenue grew 7.0% year over year. It earns a return on equity of 13.8%. Net debt stands at C$5.2B. Fundamentals as of Aug 28, 2026

Our scenario range runs from C$29.65 (bear case) to C$49.41 (bull case); at C$91.42, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 91% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −29% fair-value upside, at −57%, GWO screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly C$1.50 per share, which is 3.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income best evidence C$32.30 C$39.85 C$85.93 68
Gordon GGM C$24.67 C$51.30 C$81.38 64
DDM Multi-Stage C$24.67 C$43.25 C$53.84 64
All 6 models by family
Dividend Discount
Gordon GGM C$24.67 C$51.30 C$81.38 64
DDM Multi-Stage C$24.67 C$43.25 C$53.84 64
Multiples
P/E Multiple C$44.73 C$59.64 C$74.55 63
P/B Multiple C$34.91 C$46.55 C$58.18 55
Asset-Based
NCAV (Graham) C$16.62 C$22.28 C$33.25 54
Economic Profit
Residual Income best evidence C$32.30 C$39.85 C$85.93 68

Widest divergence: Multiples (C$46.55) versus Asset-Based (C$22.28). Highest evidence: Residual Income (68).

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Key figures & financial health

P/E ratio 19.7
P/S ratio 2.07 P/E × margin
EPS (TTM) C$4.65 price ÷ EPS = P/E 19.7
Dividend yield 2.7% payout 52.5%
Net margin 10.5% FY2025
Return on equity 13.8% TTM
More key figures
Profitability
Return on assets (EBIT) 0.2% avg 5y
Operating margin 20.5% TTM
Growth
Revenue (TTM) C$36.0B TTM
Revenue growth (YoY) +7.0%
EPS growth (YoY) +42.4%
Balance sheet & cash flow
Free cash flow C$2.7B FY2025
Net debt C$5.2B FY2025 · ≈ 1.9 yrs of FCF

Figures from reported company fundamentals · as of Aug 28, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 53/100

Of which business quality 42 · Market factors (momentum, volatility) 91

Profitability 26
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 46
Earnings quality: real cash, not paper profit
Fin. Strength 3
Balance sheet, leverage, solvency risk
Investment 87
Disciplined investing over empire-building
Low Volatility 90
Calm price path (market factor)
Momentum 87
Price trend over the last 3–12 months (market factor)
52W Momentum 98
Distance to the 52-week high (market factor)
Net Issuance 86
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Great-West Lifeco Inc. engages in the life and health insurance, retirement savings, wealth and asset management, and reinsurance businesses in Canada, the United States, and Europe.

Full company description

Great-West Lifeco Inc. engages in the life and health insurance, retirement savings, wealth and asset management, and reinsurance businesses in Canada, the United States, and Europe. The company offers life, accidental death and dismemberment, critical illness, disability, health and dental protection, and creditor insurance products; and retirement savings, income and annuity products, and other specialty products to individuals, families, businesses, and organizations. It also provides individual product solutions and employer-sponsored retirement savings plans that offers saving, investment, and advisory services; retail wealth management products and services to individuals, including individual retirement accounts and after-tax investment accounts; and wealth management, including payout annuity, equity release mortgages, pensions, and investments products. In addition, the company offers bulk and individual payout annuities, equity release mortgages, life bonds, retirement drawdown and pension, and group insurance products; savings and investments; and provides asset management services, such as pension schemes, insurance companies, wealth managers, fiduciary managers, and sovereign wealth funds, as well as manages assets for third-party institutional clients. Further, it provides life, annuity/longevity, mortgage surety, and property catastrophe reinsurance products. The company offers its products under the Empower, Canada Life, and Irish Life brand names. It distributes its products through a network of sales force, brokers, consultants, advisors, third-party administrators, financial institutions, employee benefit consultants, and multi-tied agents. The company was founded in 1979 and is based in Winnipeg, Canada. Great-West Lifeco Inc. is a subsidiary of Power Financial Corporation.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

GWO.TO reported revenue of C$39.1B in FY2025 versus C$64.4B in FY2021, a compound −11.7%/yr. Reported net income was C$4.1B in FY2025, compounding +6.0%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
C$39.1B
Latest YoY
+12.6%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−8.4%
Avg. revenue growth/yr (29Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.6%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+8.7% (6.0 + 2.7)
Revenue −11.7%/yr
FY21 C$64.4B
FY22 −C$2.7B
FY23 C$36.7B
FY24 C$34.7B
FY25 C$39.1B
Net income +6.0%/yr
FY21 C$3.3B
FY22 C$3.7B
FY23 C$2.9B
FY24 C$4.1B
FY25 C$4.1B

GWO screens 131% overvalued. Compare with China Life Insurance Company →

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Cite: Fair Value Calculator (2026). "GWO.TO Fair Value". https://www.fairvalue-calculator.com/stock/GWO

Peer Group

Insurance - Life · 96 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 48 · Below median
Fair Value upside −57% · Bottom 25%
Return on equity (TTM) 14% · Above median
Return on assets 1% · Below median
Net margin (TTM) 12% · Above median
Operating margin (TTM) 20% · Above median
Revenue growth 7% · Below median
Dividend yield (TTM) 2.7% · Below median
Debt / equity 0.42× · Higher than median

Valuation Multiples vs Insurance - Life median · lower = cheaper

P/E (TTM) 19.7× · Pricier than median
P/B 2.01× · Pricier than median
P/S (TTM) 1.67× · Pricier than median
P/FCF 22.1× · Pricier than 75% of peers
EV/EBITDA 6.6× · Pricier than median
PEG 2.54× · Pricier than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 18
FUTURE35 · sector 43
PAST55 · sector 43
HEALTH79 · sector 84
DIVIDEND53 · sector 54

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Insurance - Life stocks, each showing price versus our Fair Value estimate (as of Aug 28, 2026).

Stock Price Fair Value vs Fair Value
China Life Insurance Company 601628 ¥37.03 ¥49.98 +35%
Ping An Insurance (Group) Company 601318 ¥55.82 ¥84.72 +52%
AIA Group 1299 HK$73.00 HK$33.57 −54%
Manulife Financial Corporation MFC C$59.80 C$38.80 −35%
Aflac Incorporated AFL $116.52 $74.34 −36%
MetLife, Inc MET $96.51 $68.27 −29%
Life Insurance Corporation LICI ₹412.15 ₹392.93 −5%
China Pacific Insurance (Group) Co 601601 ¥30.20 ¥57.51 +90%
Samsung Life Insurance Co 032830 301,000 KRW 191,293 KRW −36%
Power Corporation POW C$94.43 C$31.01 −67%

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Frequently asked questions

Is GWO.TO (GWO) overvalued or undervalued?
As of Aug 28, 2026, our model estimates a fair value of C$39.53 versus a price of C$91.42, about −57% upside (overvalued).
What is the fair value of GWO?
Our model-based fair value for GWO.TO is C$39.53 (as of Aug 28, 2026), built from audited fundamentals. The current price: C$91.42.
What is the quality score of GWO?
GWO.TO has a Quality Score of 53/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of GWO.TO (GWO)?
GWO.TO reported trailing-twelve-month revenue of about C$36.0B (latest available figure, as of Aug 28, 2026).
What is the net profit margin of GWO?
The net profit margin of GWO.TO is about 12.4%, meaning it keeps roughly 12.4% of revenue as net income. Based on the latest reported figures.
Does GWO.TO pay a dividend?
GWO.TO currently shows a dividend yield of about 2.67% relative to its recent price (as of Aug 28, 2026).
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