Cash flow iA Financial Corporation Inc.

Equities

IAG

CA45075E1043

Life & Health Insurance

Market Closed - Toronto S.E. Other stock markets 04:00:00 2025-01-17 pm EST			5-day change	1st Jan Change
131.15 ^CAD	-0.08%		+0.54%	-1.63%

Dec. 30	IA Financial Group Issues Redemption Notice to Holders of 2.4% Subordinated Debentures	MT
Dec. 30	IA Financial Corporation Inc. Announces the Issuance of a Redemption Notice to Holders of 2.400% Subordinated Debentures due February 21, 2030	CI

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Published financial data: IA FINANCIAL CORPORATION INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Premiums and Annuity Revenues	8.94B	11.2B	13.16B	13.11B	5.74B
Total Interest And Dividend Income	1.37B	1.45B	1.62B	2.14B	-1.36B
Gain (Loss) on Sale of Investments, Total (Rev)	3.27B	3.22B	-1.41B	-8.74B	2.04B
Other Revenues, Total	1.68B	1.76B	2.1B	2.09B	1.51B
Total Revenues	15.26B	17.62B	15.47B	8.6B	7.93B
Policy Benefits	11.06B	13.22B	10.15B	2.93B	4.06B
Policy Acquisition / Underwriting Costs, Total	1.65B	1.79B	2.18B	2.35B	577M
Selling General & Admin Expenses, Total	1.44B	1.63B	1.8B	2.04B	-
Salaries And Other Employee Benefits	21M	10M	24M	25M	-
Other Operating Expenses	128M	129M	141M	154M	2.22B
Total Operating Expenses	14.3B	16.78B	14.3B	7.5B	6.86B
Operating Income	964M	844M	1.18B	1.1B	1.07B
Interest Expense, Total	-55M	-69M	-68M	-67M	-58M
Other Non Operating Income (Expenses)	-4M	-4M	-9M	-30M	-8M
EBT, Excl. Unusual Items	905M	771M	1.1B	998M	1B
Total Merger & Related Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-22M	-24M	-	-	-
Gain (Loss) on Sale of Assets	-	16M	12M	-	-
Asset Writedown	-	-	-	-	-
Other Unusual Items	14M	-	-	-	-
EBT, Incl. Unusual Items	897M	763M	1.11B	998M	1B
Income Tax Expense	188M	130M	259M	156M	212M
Earnings From Continuing Operations	709M	633M	852M	842M	789M
Net Income to Company	709M	633M	852M	842M	789M
Net Income - (IS)	709M	633M	852M	842M	789M
Preferred Dividend and Other Adjustments	22.1M	22M	22M	25M	20M
Net Income to Common Incl Extra Items	687M	611M	830M	817M	769M
Net Income to Common Excl. Extra Items	687M	611M	830M	817M	769M
Per Share Items
Net EPS - Basic	6.42	5.71	7.76	7.71	7.54
Basic EPS - Continuing Operations	6.42	5.71	7.76	7.71	7.54
Basic Weighted Average Shares Outstanding	107M	107M	107M	106M	102M
Net EPS - Diluted	6.4	5.7	7.7	7.65	7.48
Diluted EPS - Continuing Operations	6.4	5.7	7.7	7.65	7.48
Diluted Weighted Average Shares Outstanding	107M	107M	108M	107M	103M
Normalized Basic EPS	5.29	4.5	6.42	5.88	6.13
Normalized Diluted EPS	5.29	4.5	6.36	5.83	6.07
Dividend Per Share	1.84	1.94	2.08	2.65	3.12
Payout Ratio	26.52	32.86	26.29	32.9	38.53
Supplemental Items
EBITDA	1.12B	1.06B	1.5B	1.5B	1.25B
EBITA	1B	907M	1.25B	1.18B	1.16B
EBIT	964M	844M	1.18B	1.1B	1.07B
Total Revenues (As Reported)	15.26B	17.64B	15.49B	8.6B	-
Effective Tax Rate - (Ratio)	20.96	17.04	23.31	15.63	21.18
Total Current Taxes	173M	171M	230M	195M	446M
Total Deferred Taxes	15M	-41M	29M	-39M	-234M
Normalized Net Income	566M	482M	687M	624M	626M
Interest on Long-Term Debt	30M	46M	47M	51M	58M
Non-Cash Pension Expense	9M	9M	10M	6M	8M
Supplemental Operating Expense Items
General and Administrative Expenses	1.44B	1.63B	1.8B	2.04B	-
Stock-Based Comp., G&A Exp. (Total)	21M	10M	24M	25M	-
Total Stock-Based Compensation	21M	10M	24M	25M	-

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Investment In Debt Securities	27.51B	32.1B	32.89B	27.29B	29.94B
Investment In Equity and Preferred Securities, Total	2.95B	3.07B	3.52B	3.73B	3.26B
Trading Asset Securities, Total	641M	909M	521M	649M	732M
Real Estate Owned	2.09B	1.92B	1.87B	1.8B	1.61B
Mortgage Loans	3.08B	1.89B	1.87B	1.61B	1.43B
Policy Loans	900M	881M	1.04B	1.12B	-
Total Other Investments	503M	802M	938M	867M	981M
Total investments	37.66B	41.57B	42.65B	37.07B	37.95B
Cash And Equivalents	1.11B	1.95B	1.55B	1.36B	1.38B
Reinsurance Recoverable - (IS)	1.14B	2.12B	2.4B	2.78B	2.31B
Other Receivables - (Insurance Template)	2.28B	2.65B	2.95B	3.27B	4.37B
Separate Account Assets	27.87B	32.8B	39.58B	37.33B	41.84B
Gross Property Plant And Equipment	646M	656M	661M	649M	664M
Accumulated Depreciation	-252M	-266M	-292M	-312M	-344M
Net Property Plant And Equipment	394M	390M	369M	337M	320M
Goodwill	606M	1.22B	1.27B	1.32B	1.32B
Other Intangibles, Total	1.11B	1.62B	1.71B	1.78B	1.85B
Other Current Assets, Total	737M	1.66B	1.46B	1.29B	2.05B
Deferred Tax Assets Long-Term (Collected)	28M	38M	27M	147M	270M
Deferred Charges Long-Term	160M	441M	598M	732M	49M
Other Long-Term Assets, Total	53M	7M	92M	9M	144M
Total Assets	73.15B	86.47B	94.66B	87.42B	93.85B
Liabilities
Accounts Payable, Total	988M	1.32B	1.67B	1.57B	1.38B
Insurance And Annuity Liabilities	31.38B	37.19B	37.23B	31.13B	37.05B
Unpaid Claims	-	-	-	-	2.63B
Unearned Premiums	1.45B	2.1B	2.69B	3.13B	-
Reinsurance Payable - (BS)	163M	204M	293M	309M	8M
Current Portion of Long-Term Debt	209M	205M	635M	193M	175M
Current Portion of Leases	19M	22M	21M	20M	19M
Short-Term Borrowings	133M	162M	214M	1.26B	565M
Long-Term Debt	2.09B	2.3B	1.66B	1.76B	1.59B
Long-Term Leases	118M	119M	102M	90M	88M
Separate Account Liability	27.87B	32.8B	39.58B	37.33B	41.84B
Current Income Taxes Payable	76M	96M	126M	115M	200M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	1.88B	2.46B	2.46B	2.78B	561M
Unearned Revenue Non Current	-	-	-	-	-
Pension & Other Post Retirement Benefits	274M	380M	228M	172M	200M
Deferred Tax Liability Non-Current	287M	382M	441M	373M	319M
Other Non Current Liabilities	77M	215M	69M	48M	189M
Total Liabilities	67.02B	79.95B	87.41B	80.28B	86.81B
Preferred Stock Redeemable	-	-	-	-	-
Total Preferred Equity	-	-	-	-	-
Common Stock, Total	1.67B	1.67B	1.71B	1.68B	1.6B
Additional Paid In Capital	18M	20M	17M	17M	17M
Retained Earnings	3.82B	4.17B	4.96B	5.33B	5.06B
Comprehensive Income and Other	98M	124M	34M	-408M	-17M
Total Common Equity	5.6B	5.99B	6.72B	6.62B	6.66B
Minority Interest	525M	525M	525M	525M	375M
Total Equity	6.13B	6.51B	7.24B	7.14B	7.04B
Total Liabilities And Equity	73.15B	86.47B	94.66B	87.42B	93.85B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	107M	107M	108M	105M	99.64M
ECS Total Common Shares Outstanding	107M	107M	108M	105M	99.64M
Book Value / Share	52.4	55.93	62.48	63.14	66.87
Tangible Book Value	3.89B	3.14B	3.74B	3.51B	3.5B
Tangible Book Value Per Share	36.36	29.36	34.82	33.53	35.11
Total Debt	2.57B	2.8B	2.63B	3.33B	2.43B
Net Debt	1.46B	855M	1.08B	1.97B	1.05B
Debt Equivalent of Unfunded Proj. Benefit Obligation	226M	324M	92M	-17M	19M
Minority Interest, Total (Incl. Fin. Div)	525M	525M	525M	525M	375M
Equity Method Investments, Total	422M	436M	459M	489M	124M
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	49M	48M	48M	39M	37M
Full Time Employees	7K	-	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	709M	633M	852M	842M	789M
Depreciation, Depletion & Amortization	135M	178M	273M	342M	112M
Amortization of Goodwill and Intangible Assets - (CF)	37M	63M	76M	84M	88M
Total Depreciation, Depletion & Amortization	172M	241M	349M	426M	200M
Amortization of Deferred Charges, Total	38M	46M	66M	77M	91M
(Gain) Loss On Sale of Asset - (CF)	-	-16M	-12M	-	-
(Gain) Loss on Sale of Investments - (CF)	-3.28B	-3.25B	1.41B	8.72B	-2.02B
Total Asset Writedown	22M	24M	-	-	-
Provision and Write-off of Bad Debts	-	-	-	-	68M
Reinsurance Recoverable - (CF)	-95M	-837M	-203M	-237M	-
Change in insurance Reserves / Liabilities	4.81B	5.9B	19M	-6.22B	-
Change in Other Net Operating Assets (Collected)	-	-55M	2M	-30M	2.79B
Other Operating Activities	-1.95B	-824M	-2.3B	-2.96B	-575M
Cash from Operations	418M	1.86B	185M	613M	1.34B
Capital Expenditure	-150M	-177M	-248M	-287M	-279M
Cash Acquisitions	-6M	-1.04B	-61M	-	-28M
Divestitures	-	79M	15M	-	-
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	-156M	-1.14B	-294M	-287M	-307M
Long-Term Debt Issued, Total	400M	398M	-	299M	399M
Total Debt Issued	400M	398M	-	299M	399M
Long-Term Debt Repaid, Total	-265M	-19M	-22M	-270M	-420M
Total Debt Repaid	-265M	-19M	-22M	-270M	-420M
Issuance of Common Stock	45M	7M	28M	266M	12M
Repurchase of Common Stock	-139M	-4M	-8M	-213M	-462M
Issuance of Preferred Stock	-	-	-	-	-
Repurchase of Preferred Stock	-	-	-	-	-
Common Dividends Paid	-188M	-208M	-224M	-277M	-304M
Preferred Dividends Paid	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-188M	-208M	-224M	-277M	-304M
Other Financing Activities, Total	-51M	-63M	-68M	-330M	-234M
Cash from Financing	-198M	111M	-294M	-525M	-1.01B
Foreign Exchange Rate Adjustments	-2M	10M	-	11M	-5M
Net Change in Cash	62M	841M	-403M	-188M	21M
Supplemental Items
Cash Interest Paid	27M	41M	46M	48M	59M
Cash Income Tax Paid (Refund)	241M	165M	215M	262M	293M
Net Debt Issued / Repaid	135M	379M	-22M	29M	-21M
Levered Free Cash Flow	-197M	-209M	2.1B	1.06B	1.08B
Unlevered Free Cash Flow	-162M	-166M	2.15B	1.1B	1.11B
Change In Net Working Capital	846M	813M	-1.22B	-173M	-435M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	0.88	0.66	0.81	0.75	0.75
Return on Total Capital	7.25	5.85	7.66	6.73	6.69
Return On Equity %	11.97	10.01	12.39	11.71	11.14
Return on Common Equity	12.72	10.54	13.06	12.25	11.59
Margin Analysis
Gross Profit Margin %	16.74	14.85	20.29	38.52	41.5
SG&A Margin	9.59	9.33	11.78	23.99	-
EBITDA Margin %	7.32	6.04	9.72	17.48	15.74
EBITA Margin %	6.56	5.15	8.09	13.72	14.57
EBIT Margin %	6.32	4.79	7.6	12.74	13.46
Income From Continuing Operations Margin %	4.64	3.59	5.51	9.8	9.95
Net Income Margin %	4.64	3.59	5.51	9.8	9.95
Net Avail. For Common Margin %	4.5	3.47	5.36	9.51	9.7
Normalized Net Income Margin	3.71	2.73	4.44	7.26	7.89
Levered Free Cash Flow Margin	-1.29	-1.18	13.6	12.29	13.59
Unlevered Free Cash Flow Margin	-1.06	-0.94	13.87	12.78	14.05
Asset Turnover
Asset Turnover	0.22	0.22	0.17	0.09	0.09
Fixed Assets Turnover	45.5	44.96	40.77	24.35	24.13
Receivables Turnover (Average Receivables)	110.35	130.35	138.17	137.34	22.95
Short Term Liquidity
Current Ratio	1	1.24	0.94	0.85	0.82
Quick Ratio	0.59	0.65	0.45	0.39	0.37
Operating Cash Flow to Current Liabilities	0.08	0.27	0.02	0.06	0.13
Days Sales Outstanding (Average Receivables)	3.31	2.81	2.64	2.66	15.91
Average Days Payable Outstanding	40.18	37.91	58.05	147.69	642.04
Long Term Solvency
Total Debt/Equity	41.97	43.05	36.3	46.64	34.57
Total Debt / Total Capital	29.56	30.1	26.63	31.81	25.69
LT Debt/Equity	36.08	37.08	24.29	25.95	23.79
Long-Term Debt / Total Capital	25.42	25.92	17.82	17.7	17.68
Total Liabilities / Total Assets	91.62	92.47	92.35	91.83	92.5
EBIT / Interest Expense	17.53	12.23	17.29	16.34	18.4
EBITDA / Interest Expense	20.65	15.72	22.43	22.7	21.84
(EBITDA - Capex) / Interest Expense	17.93	13.16	18.78	18.42	17.03
Total Debt / EBITDA	2.26	2.58	1.72	2.19	1.92
Net Debt / EBITDA	1.29	0.79	0.71	1.3	0.83
Total Debt / (EBITDA - Capex)	2.61	3.09	2.06	2.7	2.46
Net Debt / (EBITDA - Capex)	1.49	0.94	0.85	1.6	1.07
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	54.01	15.45	-12.19	-44.46	18.74
Gross Profit, 1 Yr. Growth %	9.51	2.39	19.98	5.45	29.17
EBITDA, 1 Yr. Growth %	9.18	-4.83	41.35	-0.13	120.49
EBITA, 1 Yr. Growth %	9.64	-9.39	38.04	-5.83	135.71
EBIT, 1 Yr. Growth %	9.79	-12.45	39.34	-6.89	162.81
Earnings From Cont. Operations, 1 Yr. Growth %	11.83	-10.72	34.6	-1.17	136.23
Net Income, 1 Yr. Growth %	11.83	-10.72	34.6	-1.17	136.23
Normalized Net Income, 1 Yr. Growth %