Financials Intact Financial Corporation

Equities

IFC

CA45823T1066

Property & Casualty Insurance

Market Closed - Toronto S.E. 04:00:00 2024-04-12 pm EDT 5-day change 1st Jan Change
219.2 CAD +0.10% Intraday chart for Intact Financial Corporation -0.41% +7.55%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 20,083 21,556 28,951 34,159 36,353 39,115 - -
Enterprise Value (EV) 1 22,445 21,556 31,904 34,159 36,353 40,734 40,734 40,734
P/E ratio 27.6 x 20.9 x 13.3 x 14.5 x 29.2 x 17.9 x 16.2 x 15.2 x
Yield 2.16% 2.2% 2.07% 2.05% 2.16% 2.2% 2.38% 2.44%
Capitalization / Revenue 1.97 x 1.92 x 1.78 x 1.73 x - 1.8 x 1.69 x 1.5 x
EV / Revenue 2.2 x 1.92 x 1.96 x 1.73 x - 1.87 x 1.76 x 1.56 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 2.6 x 2.56 x 2 x 2.43 x 2.49 x 2.46 x 2.25 x 2.02 x
Nbr of stocks (in thousands) 143,018 143,018 176,082 175,257 178,323 178,405 - -
Reference price 2 140.4 150.7 164.4 194.9 203.9 219.2 219.2 219.2
Announcement Date 2/4/20 2/9/21 2/8/22 2/7/23 2/13/24 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 10,211 11,220 16,238 19,792 - 21,767 23,138 26,099
EBITDA - - - - - - - -
EBIT 1 976 1,522 2,668 2,667 - 3,043 3,245 3,447
Operating Margin 9.56% 13.57% 16.43% 13.48% - 13.98% 14.03% 13.21%
Earnings before Tax (EBT) 1 833 1,359 2,568 2,942 1,804 3,368 3,597 3,964
Net income 1 709 1,030 2,014 2,364 1,232 2,100 2,279 2,543
Net margin 6.94% 9.18% 12.4% 11.94% - 9.65% 9.85% 9.74%
EPS 2 5.080 7.200 12.40 13.46 6.990 12.23 13.56 14.42
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 3.040 3.320 3.400 4.000 4.400 4.831 5.225 5.350
Announcement Date 2/4/20 2/9/21 2/8/22 2/7/23 2/13/24 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 4,950 5,003 4,891 4,902 4,945 5,054 - 5,016 5,226 - 5,174 5,306 5,456 5,602 5,515
EBITDA - - - - - - - - - - - - - - -
EBIT 1 664 858 - - 614 717 - - - - 625 593.7 600 776.7 611
Operating Margin 13.41% 17.15% - - 12.42% 14.19% - - - - 12.08% 11.19% 11% 13.86% 11.08%
Earnings before Tax (EBT) 1 391 871 612 1,399 456 475 551 333 184 736 732.7 782.2 708.5 893.6 763.6
Net income 1 295 679 459 1,183 355 396 361 229 146 496 520.9 581 528.1 654.3 512.7
Net margin 5.96% 13.57% 9.38% 24.13% 7.18% 7.84% - 4.57% 2.79% - 10.07% 10.95% 9.68% 11.68% 9.3%
EPS 2 1.600 3.850 2.530 6.640 2.020 2.260 2.060 1.300 0.8300 2.780 2.675 3.171 2.901 3.602 2.968
Dividend per Share 2 0.8300 0.9100 1.000 1.000 1.000 1.000 1.100 1.100 1.100 1.100 1.198 1.193 1.193 1.193 1.160
Announcement Date 11/9/21 2/8/22 5/10/22 7/28/22 11/8/22 2/7/23 5/10/23 8/2/23 11/7/23 2/13/24 - - - - -
1CAD in Million2CAD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 2,362 - 2,953 - - 1,619 1,619 1,619
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 10.4% 15.5% 16% 15.5% 12.9% 16.9% 16.7% 16.2%
ROA (Net income/ Total Assets) - - - - - - - -
Assets 1 - - - - - - - -
Book Value Per Share 2 54.00 58.80 82.30 80.30 81.70 89.10 97.40 109.0
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 2/4/20 2/9/21 2/8/22 2/7/23 2/13/24 - - -
1CAD in Million2CAD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
16
Last Close Price
219.2 CAD
Average target price
240.4 CAD
Spread / Average Target
+9.64%
Consensus
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