Income Statement iA Financial Corporation Inc.

Equities

IAG

CA45075E1043

Life & Health Insurance

Market Closed - Toronto S.E. Other stock markets 04:00:00 2025-07-18 pm EDT			5-day change	1st Jan Change
144.90 ^CAD	-0.10%		+1.02%	+8.69%

Jun. 27	Canada Insurance Brief: TSX Life and Health Insurance Index Up 2.2% in Past Week and Up 4.1% Year To Date, notes RBC	MT
Jun. 17	IA Financial Launches $400 Million Offering of Institutional Preferred Shares	MT

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Published financial data: IA FINANCIAL CORPORATION INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Premiums and Annuity Revenues	11.2B	13.16B	13.11B	5.74B	5.33B
Total Interest And Dividend Income	1.45B	1.62B	2.14B	-1.36B	1.13B
Gain (Loss) on Sale of Investments, Total (Rev)	3.22B	-1.41B	-8.74B	2.04B	-307M
Other Revenues, Total	1.76B	2.1B	2.09B	1.51B	1.74B
Total Revenues	17.62B	15.47B	8.6B	7.93B	7.9B
Policy Benefits	13.22B	10.15B	2.93B	4.06B	3.43B
Policy Acquisition / Underwriting Costs, Total	1.79B	2.18B	2.35B	577M	762M
Selling General & Admin Expenses, Total	1.63B	1.8B	2.04B	-	-
Salaries And Other Employee Benefits	10M	24M	25M	-	-
Other Operating Expenses	129M	141M	154M	2.22B	2.4B
Total Operating Expenses	16.78B	14.3B	7.5B	6.86B	6.6B
Operating Income	844M	1.18B	1.1B	1.07B	1.3B
Interest Expense, Total	-69M	-68M	-67M	-58M	-61M
Other Non Operating Income (Expenses)	-4M	-9M	-30M	-8M	-6M
EBT, Excl. Unusual Items	771M	1.1B	998M	1B	1.23B
Total Merger & Related Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-24M	-	-	-	-
Gain (Loss) on Sale of Assets	16M	12M	-	-	-
Asset Writedown	-	-	-	-	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	763M	1.11B	998M	1B	1.23B
Income Tax Expense	130M	259M	156M	212M	267M
Earnings From Continuing Operations	633M	852M	842M	789M	962M
Net Income to Company	633M	852M	842M	789M	962M
Net Income - (IS)	633M	852M	842M	789M	962M
Preferred Dividend and Other Adjustments	22M	22M	25M	20M	20M
Net Income to Common Incl Extra Items	611M	830M	817M	769M	942M
Net Income to Common Excl. Extra Items	611M	830M	817M	769M	942M
Per Share Items
Net EPS - Basic	5.71	7.76	7.71	7.54	9.81
Basic EPS - Continuing Operations	5.71	7.76	7.71	7.54	9.81
Basic Weighted Average Shares Outstanding	107M	107M	106M	102M	96M
Net EPS - Diluted	5.7	7.7	7.65	7.48	9.77
Diluted EPS - Continuing Operations	5.7	7.7	7.65	7.48	9.77
Diluted Weighted Average Shares Outstanding	107M	108M	107M	103M	96M
Normalized Basic EPS	4.5	6.42	5.88	6.13	8
Normalized Diluted EPS	4.5	6.36	5.83	6.07	8
Dividend Per Share	1.94	2.08	2.65	3.12	3.44
Payout Ratio	32.86	26.29	32.9	38.53	33.47
Supplemental Items
EBITDA	1.06B	1.5B	1.5B	1.25B	1.49B
EBITA	907M	1.25B	1.18B	1.16B	1.39B
EBIT	844M	1.18B	1.1B	1.07B	1.3B
Total Revenues (As Reported)	17.64B	15.49B	8.6B	-	-
Effective Tax Rate - (Ratio)	17.04	23.31	15.63	21.18	21.72
Total Current Taxes	171M	230M	195M	446M	405M
Total Deferred Taxes	-41M	29M	-39M	-234M	-138M
Normalized Net Income	482M	687M	624M	626M	768M
Interest on Long-Term Debt	46M	47M	51M	58M	61M
Non-Cash Pension Expense	9M	10M	6M	8M	2M
Supplemental Operating Expense Items
General and Administrative Expenses	1.63B	1.8B	2.04B	-	-
Stock-Based Comp., G&A Exp. (Total)	10M	24M	25M	-	-
Total Stock-Based Compensation	10M	24M	25M	-	-

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Investment In Debt Securities	32.1B	32.89B	27.29B	29.94B	32.69B
Investment In Equity and Preferred Securities, Total	3.07B	3.52B	3.73B	3.26B	3.87B
Trading Asset Securities, Total	909M	521M	649M	732M	334M
Real Estate Owned	1.92B	1.87B	1.8B	1.61B	1.52B
Mortgage Loans	1.89B	1.87B	1.61B	1.43B	1.19B
Policy Loans	881M	1.04B	1.12B	-	-
Total Other Investments	802M	938M	867M	981M	1.51B
Total investments	41.57B	42.65B	37.07B	37.95B	41.12B
Cash And Equivalents	1.95B	1.55B	1.36B	1.38B	1.57B
Reinsurance Recoverable - (IS)	2.12B	2.4B	2.78B	2.31B	3.38B
Other Receivables - (Insurance Template)	2.65B	2.95B	3.27B	4.37B	4.74B
Separate Account Assets	32.8B	39.58B	37.33B	41.84B	52.58B
Gross Property Plant And Equipment	656M	661M	649M	664M	711M
Accumulated Depreciation	-266M	-292M	-312M	-344M	-394M
Net Property Plant And Equipment	390M	369M	337M	320M	317M
Goodwill	1.22B	1.27B	1.32B	1.32B	1.49B
Other Intangibles, Total	1.62B	1.71B	1.78B	1.85B	1.96B
Other Current Assets, Total	1.66B	1.46B	1.29B	2.05B	1.96B
Deferred Tax Assets Long-Term (Collected)	38M	27M	147M	270M	459M
Deferred Charges Long-Term	441M	598M	732M	49M	46M
Other Long-Term Assets, Total	7M	92M	9M	144M	238M
Total Assets	86.47B	94.66B	87.42B	93.85B	110B
Liabilities
Accounts Payable, Total	1.32B	1.67B	1.57B	1.38B	1.36B
Insurance And Annuity Liabilities	37.19B	37.23B	31.13B	37.05B	40.29B
Unpaid Claims	-	-	-	2.63B	2.96B
Unearned Premiums	2.1B	2.69B	3.13B	-	-
Reinsurance Payable - (BS)	204M	293M	309M	8M	-
Current Portion of Long-Term Debt	205M	635M	193M	175M	485M
Current Portion of Leases	22M	21M	20M	19M	21M
Short-Term Borrowings	162M	214M	1.26B	565M	1.6B
Long-Term Debt	2.3B	1.66B	1.76B	1.59B	1.5B
Long-Term Leases	119M	102M	90M	88M	80M
Separate Account Liability	32.8B	39.58B	37.33B	41.84B	52.58B
Current Income Taxes Payable	96M	126M	115M	200M	65M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	2.46B	2.46B	2.78B	561M	696M
Unearned Revenue Non Current	-	-	-	-	-
Pension & Other Post Retirement Benefits	380M	228M	172M	200M	203M
Deferred Tax Liability Non-Current	382M	441M	373M	319M	327M
Other Non Current Liabilities	215M	69M	48M	189M	237M
Total Liabilities	79.95B	87.41B	80.28B	86.81B	102B
Preferred Stock Redeemable	-	-	-	-	-
Total Preferred Equity	-	-	-	-	-
Common Stock, Total	1.67B	1.71B	1.68B	1.6B	1.52B
Additional Paid In Capital	20M	17M	17M	17M	16M
Retained Earnings	4.17B	4.96B	5.33B	5.06B	5.25B
Comprehensive Income and Other	124M	34M	-408M	-17M	74M
Total Common Equity	5.99B	6.72B	6.62B	6.66B	6.87B
Minority Interest	525M	525M	525M	375M	600M
Total Equity	6.51B	7.24B	7.14B	7.04B	7.47B
Total Liabilities And Equity	86.47B	94.66B	87.42B	93.85B	110B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	107M	108M	105M	99.64M	93.46M
ECS Total Common Shares Outstanding	107M	108M	105M	99.64M	93.46M
Book Value / Share	55.93	62.48	63.14	66.87	73.48
Tangible Book Value	3.14B	3.74B	3.51B	3.5B	3.41B
Tangible Book Value Per Share	29.36	34.82	33.53	35.11	36.52
Total Debt	2.8B	2.63B	3.33B	2.43B	3.68B
Net Debt	855M	1.08B	1.97B	1.05B	2.12B
Debt Equivalent of Unfunded Proj. Benefit Obligation	324M	92M	-17M	19M	-72M
Minority Interest, Total (Incl. Fin. Div)	525M	525M	525M	375M	600M
Equity Method Investments, Total	436M	459M	489M	124M	123M
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	48M	48M	39M	37M	37M
Full Time Employees	-	-	-	-	-

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	633M	852M	842M	789M	962M
Depreciation, Depletion & Amortization	178M	273M	342M	112M	119M
Amortization of Goodwill and Intangible Assets - (CF)	63M	76M	84M	88M	96M
Total Depreciation, Depletion & Amortization	241M	349M	426M	200M	215M
Amortization of Deferred Charges, Total	46M	66M	77M	91M	105M
(Gain) Loss On Sale of Asset - (CF)	-16M	-12M	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-3.25B	1.41B	8.72B	-2.02B	234M
Total Asset Writedown	24M	-	-	-	-
Provision and Write-off of Bad Debts	-	-	-	68M	96M
Reinsurance Recoverable - (CF)	-837M	-203M	-237M	-	-
Change in insurance Reserves / Liabilities	5.9B	19M	-6.22B	-	-
Change in Other Net Operating Assets (Collected)	-55M	2M	-30M	2.79B	1.76B
Other Operating Activities	-824M	-2.3B	-2.96B	-575M	-2.33B
Cash from Operations	1.86B	185M	613M	1.34B	1.04B
Capital Expenditure	-177M	-248M	-287M	-279M	-278M
Cash Acquisitions	-1.04B	-61M	-	-28M	-213M
Divestitures	79M	15M	-	-	-
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	-1.14B	-294M	-287M	-307M	-491M
Long-Term Debt Issued, Total	398M	-	299M	399M	400M
Total Debt Issued	398M	-	299M	399M	400M
Long-Term Debt Repaid, Total	-19M	-22M	-270M	-420M	-24M
Total Debt Repaid	-19M	-22M	-270M	-420M	-24M
Issuance of Common Stock	7M	28M	266M	12M	369M
Repurchase of Common Stock	-4M	-8M	-213M	-462M	-609M
Issuance of Preferred Stock	-	-	-	-	-
Repurchase of Preferred Stock	-	-	-	-	-
Common Dividends Paid	-208M	-224M	-277M	-304M	-322M
Preferred Dividends Paid	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-208M	-224M	-277M	-304M	-322M
Other Financing Activities, Total	-63M	-68M	-330M	-234M	-211M
Cash from Financing	111M	-294M	-525M	-1.01B	-397M
Foreign Exchange Rate Adjustments	10M	-	11M	-5M	34M
Net Change in Cash	841M	-403M	-188M	21M	187M
Supplemental Items
Cash Interest Paid	41M	46M	48M	59M	58M
Cash Income Tax Paid (Refund)	165M	215M	262M	293M	508M
Net Debt Issued / Repaid	379M	-22M	29M	-21M	376M
Levered Free Cash Flow	-209M	2.1B	1.06B	1.08B	395M
Unlevered Free Cash Flow	-166M	2.15B	1.1B	1.11B	433M
Change In Net Working Capital	813M	-1.22B	-173M	-435M	419M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	0.66	0.81	0.75	0.75	0.8
Return on Total Capital	5.85	7.66	6.73	6.69	7.86
Return On Equity %	10.01	12.39	11.71	11.14	13.26
Return on Common Equity	10.54	13.06	12.25	11.59	13.92
Margin Analysis
Gross Profit Margin %	14.85	20.29	38.52	41.5	46.86
SG&A Margin	9.33	11.78	23.99	-	-
EBITDA Margin %	6.04	9.72	17.48	15.74	18.88
EBITA Margin %	5.15	8.09	13.72	14.57	17.63
EBIT Margin %	4.79	7.6	12.74	13.46	16.41
Income From Continuing Operations Margin %	3.59	5.51	9.8	9.95	12.18
Net Income Margin %	3.59	5.51	9.8	9.95	12.18
Net Avail. For Common Margin %	3.47	5.36	9.51	9.7	11.93
Normalized Net Income Margin	2.73	4.44	7.26	7.89	9.73
Levered Free Cash Flow Margin	-1.18	13.6	12.29	13.59	5
Unlevered Free Cash Flow Margin	-0.94	13.87	12.78	14.05	5.48
Asset Turnover
Asset Turnover	0.22	0.17	0.09	0.09	0.08
Fixed Assets Turnover	44.96	40.77	24.35	24.13	24.79
Receivables Turnover (Average Receivables)	130.35	138.17	137.34	22.95	47.49
Short Term Liquidity
Current Ratio	1.24	0.94	0.85	0.82	0.79
Quick Ratio	0.65	0.45	0.39	0.37	0.33
Operating Cash Flow to Current Liabilities	0.27	0.02	0.06	0.13	0.08
Days Sales Outstanding (Average Receivables)	2.81	2.64	2.66	15.91	7.71
Average Days Payable Outstanding	37.91	58.05	147.69	642.04	806.53
Long Term Solvency
Total Debt/Equity	43.05	36.3	46.64	34.57	49.35
Total Debt / Total Capital	30.1	26.63	31.81	25.69	33.04
LT Debt/Equity	37.08	24.29	25.95	23.79	21.16
Long-Term Debt / Total Capital	25.92	17.82	17.7	17.68	14.17
Total Liabilities / Total Assets	92.47	92.35	91.83	92.5	93.2
EBIT / Interest Expense	12.23	17.29	16.34	18.4	21.25
EBITDA / Interest Expense	15.72	22.43	22.7	21.84	24.77
(EBITDA - Capex) / Interest Expense	13.16	18.78	18.42	17.03	20.21
Total Debt / EBITDA	2.58	1.72	2.19	1.92	2.44
Net Debt / EBITDA	0.79	0.71	1.3	0.83	1.4
Total Debt / (EBITDA - Capex)	3.09	2.06	2.7	2.46	2.99
Net Debt / (EBITDA - Capex)	0.94	0.85	1.6	1.07	1.72
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	15.45	-12.19	-44.46	18.74	16.84
Gross Profit, 1 Yr. Growth %	2.39	19.98	5.45	29.17	11.45
EBITDA, 1 Yr. Growth %	-4.83	41.35	-0.13	120.49	19.47
EBITA, 1 Yr. Growth %	-9.39	38.04	-5.83	135.71	20.52
EBIT, 1 Yr. Growth %	-12.45	39.34	-6.89	162.81	21.46
Earnings From Cont. Operations, 1 Yr. Growth %	-10.72	34.6	-1.17	136.23	21.93
Net Income, 1 Yr. Growth %	-10.72	34.6	-1.17	136.23	21.93
Normalized Net Income, 1 Yr. Growth %	-14.81	42.54	-9.19	186.82	22.78
Diluted EPS Before Extra, 1 Yr. Growth %	-10.94	35.09	-0.65	158.82	30.61
Net Property, Plant and Equip., 1 Yr. Growth %	-1.02	-5.38	-8.67	-5.04	-0.94
Accounts Receivable, 1 Yr. Growth %	17.98	3.81	3.67	-22.33	-37.13
Total Assets, 1 Yr. Growth %	18.21	9.48	-7.64	11.16	17.07
Common Equity, 1 Yr. Growth %	6.83	12.22	-1.56	0.92	3.06
Tangible Book Value, 1 Yr. Growth %	-19.18	19.15	-6.2	-0.06	-2.43
Cash From Operations, 1 Yr. Growth %	344.98	-90.05	231.35	118.92	-22.43
Capital Expenditures, 1 Yr. Growth %	18	40.11	15.73	-2.79	-0.36
Levered Free Cash Flow, 1 Yr. Growth %	5.97	-1.11K	-49.8	2.16	-63.36
Unlevered Free Cash Flow, 1 Yr. Growth %	1.85	-1.4K	-48.84	2.5	-61.13
Dividend Per Share, 1 Yr. Growth %	5.72	7.22	27.4	17.55	10.43
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	33.34	0.68	-30.16	-28.43	8.75
Gross Profit, 2 Yr. CAGR %	5.89	10.84	12.48	2.36	20.53
EBITDA, 2 Yr. CAGR %	1.93	15.99	18.81	-8.91	62.3
EBITA, 2 Yr. CAGR %	-0.33	11.84	14.01	-3.95	68.55
EBIT, 2 Yr. CAGR %	-1.96	10.45	13.9	-4.75	78.66
Earnings From Cont. Operations, 2 Yr. CAGR %	-0.08	9.62	15.33	-3.77	69.71
Net Income, 2 Yr. CAGR %	-0.08	9.62	15.33	-3.77	69.71
Normalized Net Income, 2 Yr. CAGR %	-2.74	10.2	13.77	-4.56	87.66
Diluted EPS Before Extra, 2 Yr. CAGR %	1.14	9.69	15.85	-1.44	83.86
Net Property, Plant and Equip., 2 Yr. CAGR %	18.66	-3.22	-7.04	-6.88	-3.01
Accounts Receivable, 2 Yr. CAGR %	3.51	10.67	3.74	23.78	-30.12
Total Assets, 2 Yr. CAGR %	16.65	13.76	0.55	-0.43	14.07
Common Equity, 2 Yr. CAGR %	7.38	9.5	5.11	-0.43	1.99
Tangible Book Value, 2 Yr. CAGR %	-5.09	-1.87	5.72	-3.35	-1.25
Cash From Operations, 2 Yr. CAGR %	117.83	-33.47	-42.59	169.33	30.32
Capital Expenditures, 2 Yr. CAGR %	0	28.58	27.34	6.07	-1.58
Levered Free Cash Flow, 2 Yr. CAGR %	-65.05	226.95	125.04	-28.44	-38.82
Unlevered Free Cash Flow, 2 Yr. CAGR %	-69.18	263.49	157.62	-27.97	-36.88
Dividend Per Share, 2 Yr. CAGR %	9.26	6.47	16.88	22.38	13.93
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	16.05	16.01	-17.42	-23.38	-20.09
Gross Profit, 3 Yr. CAGR %	9.67	10.39	9.01	7.93	5.62
EBITDA, 3 Yr. CAGR %	7.98	13.67	10.34	5.46	-0.29
EBITA, 3 Yr. CAGR %	5.79	11.1	5.61	8.39	3.6
EBIT, 3 Yr. CAGR %	4.25	10.23	4.34	8.13	3.29
Earnings From Cont. Operations, 3 Yr. CAGR %	6.03	10.35	5.9	7.62	4.13
Net Income, 3 Yr. CAGR %	6.03	10.35	5.9	7.62	4.13
Normalized Net Income, 3 Yr. CAGR %	4.22	10.48	3.31	9.09	3.8
Diluted EPS Before Extra, 3 Yr. CAGR %	5.82	11.38	6.13	9.48	8.26
Net Property, Plant and Equip., 3 Yr. CAGR %	15.06	10.03	-5.08	-6.38	-4.94
Accounts Receivable, 3 Yr. CAGR %	9.04	3.61	8.28	16.73	-1.24
Total Assets, 3 Yr. CAGR %	11.78	14.21	6.12	2.77	5.09
Common Equity, 3 Yr. CAGR %	8.38	8.97	5.68	3.62	0.72
Tangible Book Value, 3 Yr. CAGR %	-2.58	2.39	-3.33	3.63	-3.05
Cash From Operations, 3 Yr. CAGR %	42.34	-22.14	13.61	-10.31	77.87
Capital Expenditures, 3 Yr. CAGR %	12.59	11.9	24.15	16.38	3.88
Levered Free Cash Flow, 3 Yr. CAGR %	-44.96	7.2	75.08	72.86	-42.75
Unlevered Free Cash Flow, 3 Yr. CAGR %	-49.51	7.2	89.07	88.8	-41.36
Dividend Per Share, 3 Yr. CAGR %	9.94	8.58	13.03	17.1	18.26
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	16.47	10.61	-5.29	-4.37	-12.35
Gross Profit, 5 Yr. CAGR %	11.01	10.49	10.79	7.11	7.68
EBITDA, 5 Yr. CAGR %	13.71	11.67	12.19	4.04	5.93
EBITA, 5 Yr. CAGR %	13.31	9.73	9.01	4.81	6.82
EBIT, 5 Yr. CAGR %	12.25	8.81	8.01	3.98	6.1
Earnings From Cont. Operations, 5 Yr. CAGR %	10.4	8.99	9.66	4.47	6.29
Net Income, 5 Yr. CAGR %	10.4	8.99	9.66	4.47	6.29
Normalized Net Income, 5 Yr. CAGR %	13.37	9.63	7.94	4.2	6.31
Diluted EPS Before Extra, 5 Yr. CAGR %	9.81	8.21	9.72	6.06	8.83
Net Property, Plant and Equip., 5 Yr. CAGR %	16.98	13.61	5.65	2.93	-4.26
Accounts Receivable, 5 Yr. CAGR %	18.47	14.25	6.89	11.25	3.36
Total Assets, 5 Yr. CAGR %	10.31	10.66	7.15	8.11	8.47
Common Equity, 5 Yr. CAGR %	9.47	8.89	7.06	5.11	4.14
Tangible Book Value, 5 Yr. CAGR %	1.96	1.84	0.66	0.05	-2.58
Cash From Operations, 5 Yr. CAGR %	28.21	14.02	-1.01	27.91	20.02
Capital Expenditures, 5 Yr. CAGR %	21.09	21.94	18.27	9.53	13.13
Levered Free Cash Flow, 5 Yr. CAGR %	-13.91	22.37	-3.33	-8.8	14.94
Unlevered Free Cash Flow, 5 Yr. CAGR %	-18.84	21.77	-3.1	-8.56	21.65
Dividend Per Share, 5 Yr. CAGR %	10.45	9.69	12.66	13.9	13.39