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IFC.TO (IFC) Fair Value & Analysis

Financial Services · CA · Market cap C$52.0B (≈ $37.6B) · ISIN CA45823T1066

What is IFC.TO really worth?

IT IFC.TO IFC · TO
PriceC$268.79
Fair ValueC$167.46
Upside−37.7%
Quality66/100

A solid business, but trading 61% above our fair value of C$167.46.

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Strengths

Healthy Growth (revenue 5y +15.9 %/yr)
Solidly profitable · 13.1% net margin
Low debt · generates free cash flow

Risks

!Mixed vs. peers (7/15)
!Moderate moat 62/100
!Weak on future: 23 out of 100

For context

·1.98% dividend yield
Evidence: High Range C$125.60 – C$209.32

Fair value as of: Aug 14, 2026

From 6 valuation models · updated 22 days ago

Fair value updated Aug 14, 2026, revised from C$247.44 to C$167.46 (−32.3%) since Jul 18, 2026. Share price −5.1% 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$209.32). The favourable scenario is already priced in.
  • Solid but not exceptional quality (66/100) 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$310.18 C$143.60 Fair Value C$167.46 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 14, 2026.

How to read this chart

60‑month range C$143.60 – C$310.18 · fair‑value band C$125.60 – C$209.32 · the C$268.79 price screens above the C$167.46 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 14, 2026.

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Analysis

IFC.TO (IFC) currently trades at C$268.79, while our model-based Fair Value estimate is C$167.46, implying the stock looks roughly 60.5% overvalued today. The Quality Score stands at 66/100 (solid quality), in the Financial Services sector. Bull case: the Economic Profit group reads highest at a median of C$165.53 per share, and 0 of the 6 models we run sit above the C$268.79 price. Bear case: the Asset-Based group reads lowest at C$78.96, and 6 of the 6 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, IFC.TO generated revenue of C$26.4B at a net margin of 13.1%. Revenue grew 4.5% year over year. It earns a return on equity of 17.2%. Net debt stands at C$4.2B. Fundamentals as of Aug 14, 2026

Our scenario range runs from C$125.60 (bear case) to C$209.32 (bull case); at C$268.79, 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 about 14% below its 52-week high and 11% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −3% fair-value upside, at −38%, IFC 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$9.15 per share, which is 5.5 % 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
Gordon GGM C$53.86 C$111.98 C$177.65 66
DDM Multi-Stage C$53.86 C$94.43 C$117.53 66
Residual Income C$125.90 C$165.53 C$497.38 65
All 6 models by family
Dividend Discount
Gordon GGM C$53.86 C$111.98 C$177.65 66
DDM Multi-Stage C$53.86 C$94.43 C$117.53 66
Multiples
P/E Multiple C$185.58 C$247.44 C$309.30 63
P/B Multiple C$123.75 C$165.00 C$206.25 55
Asset-Based
NCAV (Graham) C$58.93 C$78.96 C$117.86 54
Economic Profit
Residual Income C$125.90 C$165.53 C$497.38 65

Widest divergence: Economic Profit (C$165.53) versus Asset-Based (C$78.96). Highest evidence: Gordon GGM (66).

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Key figures & financial health

P/E ratio 14.3
P/S ratio 1.85 P/E × margin
EPS (TTM) C$18.77 price ÷ EPS = P/E 14.3
Dividend yield 2.0% payout 28.3%
Net margin 12.9% FY2025
Return on equity 17.2% TTM
More key figures
Profitability
Return on assets (EBIT) 4.9% avg 5y
Operating margin 17.3% TTM
Growth
Revenue (TTM) C$26.4B TTM
Revenue growth (YoY) +4.5% 3y avg +5.0%
EPS growth (YoY) +11.7%
Balance sheet & cash flow
Free cash flow C$3.9B FY2025
Net debt C$4.2B FY2025 · ≈ 1.1 yrs of FCF

Figures from reported company fundamentals · as of Aug 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 66/100

Of which business quality 63 · Market factors (momentum, volatility) 57

Profitability 40
Margins and returns on capital today
Quality Growth 69
Are margins and returns improving?
Cashflow 69
Earnings quality: real cash, not paper profit
Fin. Strength 59
Balance sheet, leverage, solvency risk
Investment 75
Disciplined investing over empire-building
Low Volatility 93
Calm price path (market factor)
Momentum 44
Price trend over the last 3–12 months (market factor)
52W Momentum 38
Distance to the 52-week high (market factor)
Net Issuance 79
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

Intact Financial Corporation, through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, and internationally.

Full company description

Intact Financial Corporation, through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, and internationally. It offers insurance, such as personal auto that provides coverage from accidents, third-party liability, and physical damage; personal property which provides protection for homes and belongings from risks, including fire, theft, vandalism, water damages, other damages, and personal liability; and commercial line and specialty line insurance, including commercial auto, property, and liability coverages. The company also provides business insurance. It serves its products to accident and health, technology, ocean and inland marine, builder's risk, and entertainment, as well as financial professional lines; and various products to specialty property, surety, tuition reimbursement, general liability, and cyber and environmental institutions. The company offers specialty insurance products, including brokers, direct to consumer, agencies, wholesalers, affinity partners, Intact Prestige, and managing general agent platform. It offers its products through multiple distribution channels, such as brokers, direct-to-consumer, and managing general agent (MGA) platforms. The company was formerly known as ING Canada Inc. and changed its name to Intact Financial Corporation in 2009. Intact Financial Corporation was founded in 1809 and is based in Toronto, Canada.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

IFC.TO reported revenue of C$26.1B in FY2025 versus C$17.6B in FY2021, a compound +10.4%/yr. Reported net income was C$3.4B in FY2025, compounding +13.0%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
C$26.1B
Latest YoY
+4.4%
Avg. revenue growth/yr (3Y) 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.
+5.0%
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.
+15.9%
Avg. revenue growth/yr (22Y) 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.
+10.3%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+22.0% (20.0 + 2.0)
Revenue +10.4%/yr
FY21 C$17.6B
FY22 C$22.5B
FY23 C$23.3B
FY24 C$25.0B
FY25 C$26.1B
Net income +13.0%/yr
FY21 C$2.1B
FY22 C$2.5B
FY23 C$1.3B
FY24 C$2.3B
FY25 C$3.4B
Character of growth · EPS growth decomposed (2014-2025) +10.9 % p.a.
Revenue per share +9.4 %

of which total revenue +13.1 % · buybacks/dilution −3.3 %

EBIT margin +1.8 %
Tax rate −0.4 %
Residual (interest, one-offs) +0.0 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

IFC screens 61% overvalued. Compare with The Progressive Corporation →

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

Peer Group

Insurance - Property & Casualty · 117 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 67 · Top 25%
Fair Value upside −38% · Bottom 25%
Return on equity (TTM) 17% · Above median
Return on assets 5% · Top 25%
Net margin (TTM) 13% · Above median
Operating margin (TTM) 17% · Above median
Revenue growth 5% · Below median
Dividend yield (TTM) 2.0% · Below median
Debt / equity 0.20× · Higher than median

Valuation Multiples vs Insurance - Property & Casualty median · lower = cheaper

P/E (TTM) 14.3× · Pricier than median
P/B 1.80× · Pricier than median
P/S (TTM) 1.43× · Pricier than median
P/FCF 9.6× · Pricier than 75% of peers
EV/EBITDA 6.9× · Cheaper than median
PEG 0.49× · Cheaper 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 22
FUTURE23 · sector 32
PAST69 · sector 56
HEALTH90 · sector 92
DIVIDEND40 · sector 50

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 - Property & Casualty stocks, each showing price versus our Fair Value estimate (as of Aug 14, 2026).

Stock Price Fair Value vs Fair Value
The Progressive Corporation PGR $217.65 $160.25 −26%
Chubb Limited CB $338.31 $234.73 −31%
The Travelers Companies, Inc TRV $369.90 $274.42 −26%
The Allstate Corporation ALL $260.58 $316.11 +21%
The People's Insurance Company 601319 ¥7.14 ¥11.61 +63%
PICC Property and Casualty Company 2328 HK$15.25 HK$22.27 +46%
Fairfax Financial Holdings FFH C$2,281 C$2,926 +28%
QBE Insurance Group QBE A$22.62 A$14.20 −37%
Cincinnati Financial Corporation CINF $171.97 $166.34 −3%
W. R. Berkley Corporation WRB $69.50 $47.08 −32%

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Frequently asked questions

Is IFC.TO (IFC) overvalued or undervalued?
As of Aug 14, 2026, our model estimates a fair value of C$167.46 versus a price of C$268.79, about −38% upside (overvalued).
What is the fair value of IFC?
Our model-based fair value for IFC.TO is C$167.46 (as of Aug 14, 2026), built from audited fundamentals. The current price: C$268.79.
What is the quality score of IFC?
IFC.TO has a Quality Score of 66/100. 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 IFC.TO (IFC)?
IFC.TO reported trailing-twelve-month revenue of about C$26.4B (latest available figure, as of Aug 14, 2026).
What is the net profit margin of IFC?
The net profit margin of IFC.TO is about 13.1%, meaning it keeps roughly 13.1% of revenue as net income. Based on the latest reported figures.
Does IFC.TO pay a dividend?
IFC.TO currently shows a dividend yield of about 1.98% relative to its recent price (as of Aug 14, 2026).
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