AGF Management B NV (AGF.B) AI Stock Analysis

• Market Cap: C$1.06B
• Dividend Yield: 3.01%
• Average Volume (3M): 123.00K
• Price to Earnings (P/E): 9.4
• Beta (1Y): 1.32
• Revenue Growth: 11.23%
• EPS Growth: 30.44%
• Country: CA
• Employees: 634
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 0.46
• Shares Outstanding: 64,590,290
• 10 Day Avg. Volume: 110,264
• 30 Day Avg. Volume: 122,996
• PEG Ratio: 0.62
• Price to Book (P/B): 0.64
• Price to Sales (P/S): 1.42
• P/FCF Ratio: 6.43
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$18.00
• Price Target Upside: 10.29% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 78 Outperform
• Price Target: C$18.50 ▲(13.36% Upside)

The score is driven primarily by strong fundamentals (profitability, low leverage, and solid free cash flow) and supported by attractive valuation (low P/E with a ~3% dividend). The main offset is technicals that look overextended (high RSI/Stoch), while the latest earnings call was broadly positive but included notable risks (leadership change and a large client redemption).

Positive Factors

Revenue Growth

The significant acceleration in revenue growth indicates strong demand for AGF's services and effective market strategies, supporting long-term business expansion.

AUM Growth

The growth in AUM reflects AGF's ability to attract and retain clients, enhancing its revenue base and competitive position in the asset management industry.

Strong Cash Flow

Robust cash flow generation allows AGF to invest in growth opportunities, maintain financial stability, and provide returns to shareholders, supporting long-term value creation.

Negative Factors

Leadership Changes

Leadership changes can disrupt strategic direction and operational continuity, potentially impacting AGF's ability to execute its long-term business plans effectively.

Institutional Client Redemption

The large client redemption could signal challenges in client retention and may impact future revenue streams, highlighting potential vulnerabilities in AGF's business model.

Decrease in AGF Capital Partners Revenue

A decline in revenue from AGF Capital Partners suggests potential issues in this segment, which could affect overall profitability and growth if not addressed.

AGF Management B NV Business Overview & Revenue Model

Company Description

AGF Management Limited is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to public and corporate DB pension plans, endowments and foundations, sovereign wealth funds, corporate plans, insurance companies, and sub-advised mandates. Through its subsidiaries, it manages separate client-focused equity, fixed income, and balanced mutual funds along with separate client-focused equity, fixed income, and balanced portfolios. Through its subsidiaries, the firm invests in the public equity and fixed income markets across the globe. For its equity portion, it invests in growth stocks of companies. The firm employs fundamental analysis to make its investments. AGF Management Limited was founded in 1957 and is based in Toronto, Canada.

How the Company Makes Money

AGF Management B NV generates revenue primarily through management fees charged on the assets under management (AUM) in its various investment funds and portfolios. The company earns a percentage of the total value of the assets it manages, which can vary depending on the investment vehicle and client agreements. Additionally, AGF may receive performance fees based on the returns generated by its funds, incentivizing the company to achieve strong investment performance. Other potential revenue streams include advisory fees for financial planning and consulting services, as well as commissions from the sale of financial products. Strategic partnerships with financial institutions and distribution networks also play a significant role in expanding AGF's market reach and driving earnings.

AGF Management B NV Financial Statement Overview

Summary

AGF Management B NV exhibits strong financial health with robust revenue and profit growth, efficient cost management, stable balance sheet with low leverage, and strong cash flow generation.

Income Statement

AGF Management B NV has demonstrated strong revenue growth with a TTM revenue increase of 6.27% compared to the previous annual period. The gross profit margin for TTM is 63.38%, indicating efficient cost management. The net profit margin is also robust at 19.28%, reflecting healthy profitability. EBIT and EBITDA margins are solid at 20.82% and 27.83% respectively, showcasing strong operational performance.

Balance Sheet

The company's balance sheet is stable with a debt-to-equity ratio of 0.14, indicating low leverage. The return on equity (ROE) is strong at 8.94%, suggesting effective use of equity to generate profits. The equity ratio is high at 68.26%, reflecting a strong equity base relative to total assets. Overall, the balance sheet shows financial stability with low risk.

Cash Flow

AGF Management B NV has shown a healthy free cash flow growth rate of 4.47% in the TTM period. The operating cash flow to net income ratio is 1.16, indicating strong cash generation relative to net income. The free cash flow to net income ratio is 1.13, further supporting the company's ability to generate cash. Overall, the cash flow position is strong, supporting future growth and stability.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	543.59M	508.38M	471.82M	448.42M	448.84M	389.06M
Gross Profit	305.40M	261.25M	471.55M	141.44M	106.81M	103.81M
EBITDA	159.77M	141.68M	129.01M	101.60M	65.08M	209.01M
Net Income	112.32M	97.57M	87.70M	66.65M	39.30M	173.91M
Balance Sheet
Total Assets	1.72B	1.63B	1.42B	1.37B	1.36B	1.35B
Cash, Cash Equivalents and Short-Term Investments	64.60M	73.13M	72.64M	79.30M	109.56M	112.18M
Total Debt	144.22M	95.83M	89.89M	102.86M	84.63M	85.66M
Total Liabilities	517.55M	473.62M	331.38M	338.44M	328.24M	331.36M
Stockholders Equity	1.18B	1.13B	1.09B	1.03B	1.03B	1.02B
Cash Flow
Free Cash Flow	117.48M	112.38M	83.80M	48.26M	34.53M	89.15M
Operating Cash Flow	121.35M	114.58M	87.24M	64.60M	47.80M	92.46M
Investing Cash Flow	-86.27M	-78.66M	-37.47M	-40.33M	-24.60M	240.43M
Financing Cash Flow	-35.74M	-33.42M	-57.93M	-52.13M	-30.73M	-290.54M

AGF Management B NV Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 16.32
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:AGF.B, the sentiment is Positive. The current price of 16.32 is above the 20-day moving average (MA) of 16.25, above the 50-day MA of 15.00, and above the 200-day MA of 12.71, indicating a bullish trend. The MACD of 0.42 indicates Positive momentum. The RSI at 61.80 is Neutral, neither overbought nor oversold. The STOCH value of 37.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:AGF.B.

AGF Management B NV Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SII	80 Outperform	C$4.03B	57.42	14.90%	1.32%	35.51%	7.55%
AGF.B	78 Outperform	C$1.06B	9.42	9.85%	3.01%	11.23%	30.44%
SEC	74 Outperform	C$965.10M	5.52	9.11%	―	22.33%	-25.06%
GCG	69 Neutral	C$1.65B	8.75	13.82%	2.29%	58.88%	82.03%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
FSZ	62 Neutral	C$650.40M	21.08	11.26%	8.78%	-0.88%	-52.30%
CVG	57 Neutral	C$1.02B	304.80	0.32%	0.14%	-44.78%	-95.84%