AGF Management Limited (AGF-B) Fair Value & Analysis
Financial Services · CA · Market cap C$1.5B (≈ $1.0B) · ISIN CA0010921058
What is AGF Management Limited really worth?
A strong business, currently priced close to our fair value of C$22.97.
Strengths
Risks
For context
Fair value as of: Aug 13, 2026
From 10 valuation models · updated 22 days ago
Fair value updated Aug 13, 2026, revised from C$26.67 to C$22.97 (−13.9%) since Jul 17, 2026. Share price −6.0% 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 close to our fair value, market and models broadly agree here, little valuation tension.
- A fairly wide model range (C$15.83 to C$29.34) leaves room in how you read the outcome.
- 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)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range C$4.69 – C$23.88 · fair‑value band C$15.83 – C$29.34 · the C$21.90 price screens below the C$22.97 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
AGF Management Limited (AGF-B) currently trades at C$21.90, while our model-based Fair Value estimate is C$22.97, implying the stock looks roughly 4.7% fairly valued today. The Quality Score stands at 75/100 (high quality), in the Financial Services sector. Bull case: the Earnings-Based group reads highest at a median of C$29.09 per share, and 5 of the 10 models we run sit above the C$21.90 price. Bear case: the Asset-Based group reads lowest at C$12.76, and 5 of the 10 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, AGF Management Limited generated revenue of C$574M at a net margin of 20.2%. Revenue declined 10.1% year over year. It earns a return on equity of 9.7%. Net debt stands at C$80.1M. Fundamentals as of Aug 13, 2026
Our scenario range runs from C$15.83 (bear case) to C$29.34 (bull case); at C$21.90, the current price sits within 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 94% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at 5%, AGF-B screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 9 months have passed since. In that time the company retained roughly C$1.21 per share, which is 5.3 % 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.
All 10 models by family
Widest divergence: Earnings-Based (C$29.09) versus Asset-Based (C$12.76). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 70 · Market factors (momentum, volatility) 75
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
AGF Management Limited is one of Canada's premier investment management companies with offices across Canada and subsidiaries around the world. 2007 marks AGF's 50th anniversary ofproviding Canadians with innovative investment solutions across the wealth continuum.
Full company description
AGF Management Limited is one of Canada's premier investment management companies with offices across Canada and subsidiaries around the world. 2007 marks AGF's 50th anniversary ofproviding Canadians with innovative investment solutions across the wealth continuum. AGF's products and services include a diversified family of more than 50 mutual funds, the evolutionary AGF Elements portfolios, the Harmony asset management program, AGF Private Investment Management, Institutional Account Services and AGF Trust GICs, loans and mortgages. With approximately $53 billion in total assets under management, AGF serves more than one million investors. AGF Management Limited was formed on 1957 and is based in Canada.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
AGF Management Limited reported revenue of C$558M in FY2025 versus C$449M in FY2021, a compound +5.6%/yr. Reported net income was C$129M in FY2025, compounding +34.5%/yr from FY2021.
of which total revenue +2.1 % · buybacks/dilution +2.5 %
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).
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Peer Group
Asset Management · 696 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.
Valuation Multiples vs Asset Management median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Asset Management stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Blackstone Inc BX | $142.39 | $52.88 | −63% |
| Investor AB INVEB | kr 417.20 | kr 824.66 | +98% |
| Brookfield Corporation BN | C$55.74 | C$10.67 | −81% |
| KKR & Co KKR | $108.68 | $19.97 | −82% |
| Apollo Global Management, Inc APO | $135.04 | $101.04 | −25% |
| State Street Corporation STT | $193.33 | $138.33 | −28% |
| Ameriprise Financial, Inc AMP | $559.32 | $515.24 | −8% |
| Ares Management Corporation ARES | $143.10 | $30.88 | −78% |
| Northern Trust Corporation NTRS | $186.79 | $122.02 | −35% |
| Raymond James Financial, Inc RJF | $181.10 | $142.42 | −21% |
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