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iA Financial Corporation (IAFNF) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of iA Financial Corporation $79.02, price $144, upside -45.1%, quality 66 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
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Financial Services · US · ISIN CA45075E1043

IF iA Financial Corporation logo Broad data Oct 3, 2026

iA Financial Corporation

IAFNF · US

Stretched ValuationStrong overvaluation with only moderate quality.

!Fair value $79.02 · Strongly overvalued (−45.1%)
✓Quality 66/100
!Weak Growth (revenue 5y −8.6 %/yr)
✓Solidly profitable · 11.1% net margin (TTM)
✓Low debt · generates free cash flow
✓2.8% dividend yield · Well covered
!Moderate moat 47/100

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

Price vs Fair Value

$151.52 $39.57 Fair Value $79.02 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.

How to read this chart

60‑month range $39.57 – $151.52 · fair‑value band $59.26 – $109.19 · the $143.93 price screens above the $79.02 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.

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Company profile

iA Financial Corporation Inc., provides insurance and wealth management services for individual and group basis in Canada and the United States. It operates through Insurance, Canada; Wealth Management; US Operations; and Investment segments.

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iA Financial Corporation Inc., provides insurance and wealth management services for individual and group basis in Canada and the United States. It operates through Insurance, Canada; Wealth Management; US Operations; and Investment segments. The company offers life, health, auto, home, and creditor insurance products; replacement insurance products and warranties; extended warranties and other ancillary products for dealer services; and specialized products for special markets; and life insurance products and extended warranties relating to dealer services. It also provides savings plans, retirement, and segregated funds, securities brokerage, trust operations, and mutual funds. In addition, the company offers car, RV, mortgage, disability, travel, medical and paramedical care, homecare, vision and dental care, accidental death and dismemberment, disability management, transit, and critical illness insurance products. Further, the company provides investment funds; registered retirement savings plan (RRSP), tax-free savings account, tax-free first home savings account, individual pension plan, locked-in retirement account, and non-registered savings plan; registered retirement income fund, life income fund, and annuities; registered education savings plans (RESP); and RRSP, RESP, and investment loans. Additionally, it owns and manages real estate portfolio of commercial space for lease for offices, businesses, etc.; manufactures and distributes automobile protection products; provides vehicle warranty and related software and services; digital property and casualty insurance distribution services; life insurance, mutual fund, securities, and cross border securities brokerage services; trust service; auto finance; ancillary automotive products; and automobile warranty services, as well as operates as an independent warranty providers and administrators in the used vehicle market. The company was founded in 1892 and is headquartered in Quebec City, Canada.

Stock analysis

iA Financial Corporation (IAFNF) currently trades at $143.93, while our model-based Fair Value estimate is $79.02, 45.1% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of $90.92 per share, and 0 of the 6 models we run sit above the $143.93 price.

Bear case: the Asset-Based group reads lowest at $43.51, and 6 of the 6 models stay below the price. Evidence for this calculation is high.

Scenario range: $59.26 (bear) to $109.19 (bull), the price of $143.93 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 66/100 (solid quality), in the Financial Services sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

iA Financial Corporation reported revenue of C$11.3B in FY2025 versus C$13.4B in FY2021, a compound −4.2%/yr. Reported net income was C$1.1B in FY2025, compounding +6.3%/yr from FY2021.

Key figures

Market cap $11.9B · P/E ratio 18.6 · P/S ratio 1.80 · EPS (TTM) $7.73 · Dividend yield 2.8% · Net margin 9.7% · Return on equity 13.4% · Return on assets (EBIT) 1.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).

What moves the price

The share trades about 5% below its 52-week high and 36% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −22% fair-value upside, at −45%, IAFNF screens richer than that median.

Fair Value models

Bear $59.26 Fair Value $79.02 Bull $109.19
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($2.77 per share) are deliberately not added. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Residual Income $62.17 $76.86 $111.83 75
Gordon GGM $29.15 $60.60 $96.13 66
DDM Multi-Stage $29.15 $51.10 $63.60 66
All 6 models by family
Dividend Discount
Gordon GGM $29.15 $60.60 $96.13 66
DDM Multi-Stage $29.15 $51.10 $63.60 66
Multiples
P/E Multiple $83.96 $111.95 $139.93 63
P/B Multiple $68.19 $90.92 $113.66 55
Asset-Based
NCAV (Graham) $32.47 $43.51 $64.95 54
Economic Profit
Residual Income $62.17 $76.86 $111.83 75

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Quality Score breakdown

Overall quality 66/100

Of which business quality 57 · Market factors (momentum, volatility) 72

Profitability 28
Margins and returns on capital today
Quality Growth 63
Are margins and returns improving?
Cashflow 99
Earnings quality: real cash, not paper profit
Fin. Strength 5
Balance sheet, leverage, solvency risk
Investment 72
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 64
Price trend over the last 3–12 months (market factor)
52W Momentum 75
Distance to the 52-week high (market factor)
Net Issuance 100
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+42.6%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−8.6%
Start year 2020 (pandemic). Over 10 years: +3.2% a year
Revenue growth 27 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+11.5%
What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+25.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+22.3%
Dividend (yield on the price)2.8%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.19.9% vs 14.1%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.4% → 12%
2025 sits 111% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2020 (pandemic)

Growth Forecast

Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−27.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −28.7% a year for the price.

IAFNF screens overvalued: fair value 45% below the price. Compare with Allianz SE →

Recent news

News mood ⓘNews mood, the average tone of recent news (94 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation. Positive
Recent news coverage is more positive than average.

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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 - Diversified stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Allianz SE ALV €412.00 €229.84 −44%
Zurich Insurance Group ZURN CHF 563.60 CHF 328.80 −42%
AXA SA CS €41.90 €36.28 −13%
Assicurazioni Generali S.p.A G €42.75 €10.92 −74%
Sun Life Financial Inc SLF $79.48 $41.03 −48%
American International Group AIG $74.17 $71.58 −3%
Talanx AG TLX €117.40 €91.88 −22%
The Hartford Insurance Group HIG $126.04 $115.03 −9%
Arch Capital Group ACGL $94.26 $127.51 +35%
Swiss Life Holding SLHN CHF 891.00 CHF 413.93 −54%

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iA Financial Corporation · Fair Value
$79.02 −45%Fair Value
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Cite: Fair Value Calculator (2026). "iA Financial Corporation Fair Value". https://www.fairvalue-calculator.com/stock/IAFNF

Frequently asked questions

Is iA Financial Corporation (IAFNF) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of $79.02 versus a price of $143.93, about −45% upside (overvalued).
What is the fair value of IAFNF?
Our model-based fair value for iA Financial Corporation is $79.02 (as of Oct 3, 2026), built from audited fundamentals. The current price: $143.93.
What is the quality score of IAFNF?
iA Financial Corporation 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 price target for iA Financial Corporation (IAFNF)?
Our model-based price target is the fair value of $79.02 (as of Oct 3, 2026) from 6 valuation models. Cautious scenario $59.26, optimistic scenario $109.19. It is a calculation from audited fundamentals, not an analyst target.
What is the iA Financial Corporation stock forecast for 2026?
Our models put fair value at $79.02, about −45% upside versus a price of $143.93 (overvalued). Cautious scenario $59.26, optimistic scenario $109.19. The calculation is refreshed regularly with new filings.
What is the revenue of iA Financial Corporation (IAFNF)?
iA Financial Corporation reported trailing-twelve-month revenue of about $9.4B (latest available figure, as of Oct 3, 2026).
Does iA Financial Corporation pay a dividend?
iA Financial Corporation currently shows a dividend yield of about 2.83% relative to its recent price (as of Oct 3, 2026).
What growth is priced into iA Financial Corporation (IAFNF)?
For today's price to be fair in a discounted-cash-flow model, iA Financial Corporation would have to grow free cash flow by -27.0 % per year for five years (discount rate 8.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -8.6 % per year. As of Oct 3, 2026.
What discount rate (WACC) does the fair value of IAFNF use?
Our models discount iA Financial Corporation at 8.6 %: a base by market capitalisation (large), damped by beta 0.72, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For iA Financial Corporation that is -27.0 % per year a year over ten years, using the same discount rate (8.6 %) and the same formula as our fair value.
How much growth has iA Financial Corporation (IAFNF) delivered so far?
Over the past 5 years revenue at iA Financial Corporation grew -8.6 % a year. The price currently implies -27.0 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of iA Financial Corporation (IAFNF) growing?
The median revenue growth in the sector is +9.2 % a year. That is the yardstick for the growth priced into iA Financial Corporation (-27.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of iA Financial Corporation (IAFNF)?
The free-cash-flow yield on the price is 32.92 %: that much free cash flow iA Financial Corporation produces per unit of market value. When it exceeds the discount rate of our models (8.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of iA Financial Corporation (IAFNF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For iA Financial Corporation it is $79.02 per share (as of Oct 3, 2026), against a price of $143.93. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is iA Financial Corporation stock overvalued or undervalued in 2026?
As of Oct 3, 2026, IAFNF trades above its calculated fair value: price $143.93, fair value $79.02, a gap of about −45% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of IAFNF?
No. The price is what the market pays today ($143.93); the fair value is what the company's own numbers justify ($79.02). For iA Financial Corporation the two are $64.91 per share apart. That gap is exactly why we show both numbers side by side.
How much is iA Financial Corporation worth?
The market values iA Financial Corporation at about $11.9B (market capitalisation, as of Oct 3, 2026). Per share that is $143.93; our models calculate a fair value of $79.02 per share.
What do the bullish and bearish scenarios say about IAFNF?
Our models span a range for iA Financial Corporation: cautious scenario $59.26, base $79.02, optimistic $109.19 per share (as of Oct 3, 2026, price $143.93). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is IAFNF from its 52-week high?
iA Financial Corporation trades at $143.93, about 5% below its 52-week high of $151.52 and 36% above the low of $105.81 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $79.02 is for.
Which stocks are comparable to iA Financial Corporation?
From the same area (Financial Services) we also value Allianz SE, Zurich Insurance Group, AXA SA, Assicurazioni Generali S.p.A, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is iA Financial Corporation stock attractive at the current price?
The data as of Oct 3, 2026: price $143.93, calculated fair value $79.02 (−45%), Quality Score 66/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of IAFNF calculated?
We run iA Financial Corporation through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $79.02, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. iA Financial Corporation itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of iA Financial Corporation (IAFNF)?
The closing price on Oct 2, 2026 was $143.93. Our model-based fair value is $79.02, about −45% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with iA Financial Corporation right now?
The price sits above even our optimistic bull case ($109.19). 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. A fairly wide model range ($59.26 to $109.19) 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.
Where does the earnings growth of iA Financial Corporation (IAFNF) come from?
Earnings per share at iA Financial Corporation grew +10.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +1.8 %, EBIT margin +9.4 %, tax rate −0.8 %, residual (interest, one-offs) −0.2 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of iA Financial Corporation

How large is the market capitalisation of iA Financial Corporation (IAFNF)?
The market capitalisation of iA Financial Corporation is $11.9B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/E ratio of iA Financial Corporation (IAFNF)?
The price-to-earnings ratio of iA Financial Corporation is 18.6. Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of iA Financial Corporation (IAFNF)?
The price-to-sales ratio of iA Financial Corporation is 1.80 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of iA Financial Corporation (IAFNF)?
Earnings per share at iA Financial Corporation are $7.73 (price ÷ EPS = P/E 18.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of iA Financial Corporation (IAFNF)?
The dividend yield of iA Financial Corporation is 2.8% (payout 52.7%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of iA Financial Corporation (IAFNF)?
The net margin of iA Financial Corporation is 9.7% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of iA Financial Corporation (IAFNF)?
The return on equity (ROE) of iA Financial Corporation is 13.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of iA Financial Corporation (IAFNF)?
On an EBIT basis the return on assets of iA Financial Corporation is 1.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of iA Financial Corporation (IAFNF)?
The operating margin of iA Financial Corporation is 9.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at iA Financial Corporation (IAFNF)?
Revenue at iA Financial Corporation is growing +13.4% versus a year earlier. How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at iA Financial Corporation (IAFNF)?
Earnings per share at iA Financial Corporation are growing −24.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does iA Financial Corporation (IAFNF) carry?
The net debt of iA Financial Corporation is $816M (fiscal year 2025, ≈ 0.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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