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AGF Management Ltd Shs -B- Non-Voting AGF.B

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Stock XTSE Rating as of
CA$19.87 −2.03 (9.27%)
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As of Delayed Price Closed

Company Report

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AGF Management Is in a Challenging Spot as a Subscale Independent Canadian Active Asset Manager

Rajiv Bhatia

Founded in 1957, AGF Management began as a mutual fund company offering retail investors in Canada greater access to the US stock market through its American Growth Fund. Retail equity mutual fund assets are still the firm's bread and butter and make up the majority of AGF's assets. Although the firm has made some acquisitions and invested in partnerships, we believe that organic growth in assets under management continues to be its main focus.

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Price vs Fair Value

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AGF.B is trading at a LOCK|^b!N premium.
Price
CA$19.87
Fair Value
$T@
Uncertainty
LOCK|>M
1-Star Price
%Z@
5-Star Price
P$f
Economic Moat
LOCK|>j$
Capital Allocation
LOCK|p^nLWDC

Bulls Say, Bears Say

Bulls

Flows have seen periods of improvement, such as during 2020-21, and could improve faster than our expectations.

Bears

With AGF’s base management fees heavily tied to equity markets, a prolonged market downturn would hurt the firm's profits.

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Trading Information

Previous Close Price
CA$21.90
Day Range
CA$19.83–21.32
52-Week Range
CA$12.62–24.20
Bid/Ask
CA$19.86 / CA$20.18
Shares Outstanding
63.59M
Market Cap
CA$1.26B
Volume/Avg
777,969 / 287,198

Key Statistics

Price/Earnings (Normalized)
9.20
Price/Sales
2.30
Dividend Yield (Trailing)
2.62%
Dividend Yield (Forward)
2.72%
Dividend Payment Schedule
Jan, Apr, Jul, Oct
Total Yield
5.65%

Company Profile

AGF Management is a Canada-based independent asset manager. As of November 2025, the firm had CAD 60.4 billion in total assets under management with CAD 35.0 billion in retail mutual funds, CAD 9.5 billion in high-net-worth private wealth, and the remaining in institutional, ETF, and private assets. AGF Management’s funds are weighted toward equities, with roughly three-fourths of the firm’s retail AUM tied to equities.
Sector
Financial Services
Industry
Asset Management
Stock Style Box
Small Value
Total Number of Employees
624
Website
https://www.agf.com

Competitors

Valuation

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Metric
AGF.B
IVZ
IGM
Price/Earnings (Normalized)
 9.2012.8816.63
Price/Book Value
 1.021.432.14
Price/Sales
 2.302.134.95
Price/Cash Flow
 9.628.0017.01
Price/Earnings
AGF.B
IVZ
IGM

Financial Strength

Metric
AGF.B
IVZ
IGM
Quick Ratio
 1.346.823.71
Current Ratio
 1.576.824.84
Interest Coverage
 30.56−2.0512.58
Quick Ratio
AGF.B
IVZ
IGM

Profitability

Metric
AGF.B
IVZ
IGM
Return on Assets (Normalized)
 6.55%4.12%5.29%
Return on Equity (Normalized)
 9.49%11.11%12.78%
Return on Invested Capital (Normalized)
 8.14%5.80%7.50%
Return on Assets
AGF.B
IVZ
IGM

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