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IGM FinancialTSX:IGM -0.99%85 Net-Net Working Capital is C$-34.42 as of Jun. 2026. GuruFocus rates TSX:IGM with a GF Score™ of 85/100 and a GF Value™ of C$52.64 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 496 Asset Management companies, IGM Financial ranks worse than 201612.7% on this metric.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.
IGM Financial's Net-Net Working Capital for the quarter that ended in Jun. 2026 was C$-34.42.
The industry rank for IGM Financial's Net-Net Working Capital or its related term are showing as below:
TSX:IGM's Price-to-Net-Net-Working-Capital is not ranked *
in the Asset Management industry.
Industry Median: 6.37 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
IGM Financial (TSX:IGM) Net-Net Working Capital Explanation
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.
IGM Financial Net-Net Working Capital Related Terms
IGM Financial Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for IGM Financial's Net-Net Working Capital can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
TSX:IGM vs BLK, BX, KKR: Net-Net Working Capital Comparison
For the Asset Management subindustry, IGM Financial's Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
IGM Financial Price-to-Net-Net-Working-Capital vs Asset Management Industry
For the Asset Management industry and Financial Services sector, IGM Financial's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where IGM Financial's Price-to-Net-Net-Working-Capital falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full.
In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
This is a conservative way of estimating the company's value.
What does a Net-Net Working Capital of C$-34.42 mean?
IGM Financial (TSX:IGM) has a Net-Net Working Capital of C$-34.42 as of Jun. 2026. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on IGM Financial According to the industry distribution chart, IGM Financial ranks #999999 out of 496 companies in the Asset Management industry.
Is IGM Financial's Net-Net Working Capital too high?
IGM Financial's current Net-Net Working Capital is C$-34.42. Based on the distribution chart, IGM Financial ranks #999999 out of 496 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, IGM Financial has a GF Score™ of 85/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does IGM Financial's Net-Net Working Capital compare to BLK and BX?
According to the Asset Management industry distribution chart, IGM Financial ranks #999999 out of 496 companies for Net-Net Working Capital. This places IGM Financial in the lower half of its industry. The industry median Net-Net Working Capital is 6.37. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net-Net Working Capital for an Asset Management company?
The median Net-Net Working Capital among Asset Management companies is 6.37, based on 496 companies in the industry. Companies in the top quartile (top 25%) have a Net-Net Working Capital significantly above this median, while those in the bottom quartile fall well below. However, Net-Net Working Capital should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net-Net Working Capital mean?
A high Net-Net Working Capital can signal that a stock is expensive relative to its fundamentals. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on IGM Financial For the Asset Management industry, the median Net-Net Working Capital is 6.37 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. IGM Financial's current Net-Net Working Capital is C$-34.42. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is IGM Financial stock overvalued right now?
Based on GuruFocus' analysis, IGM Financial (TSX:IGM) is currently considered Significantly Overvalued. The stock's GF Value™ is C$52.64, compared to a current price of C$89.31 — trading 69.7% above its estimated fair value. The current Net-Net Working Capital is C$-34.42. IGM Financial's overall GF Score™ is 85/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net-Net Working Capital calculated?
Net-Net Working Capital is calculated from a company's financial statements. For IGM Financial (TSX:IGM), the current Net-Net Working Capital is C$-34.42 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is IGM Financial (TSX:IGM) Overvalued in 2026?
Based on GuruFocus' analysis, IGM Financial stock appears to be overvalued.
The current stock price of C$89.31 is trading 69.7% above its estimated GF Value™ of C$52.64.
GuruFocus considers IGM Financial to be Significantly Overvalued.
Key valuation signals for TSX:IGM:
Net-Net Working Capital: C$-34.42
GF Value™: C$52.64 vs. price of C$89.31 (69.7% above fair value)
No single metric tells the full story. See the TSX:IGM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
IGM Financial is a leading nonbank Canadian wealth and asset management company. Power Corporation of Canada, which also holds a majority stake in Great-West Life co, has a majority stake (62%) in IGM. The company has two main operating segments, wealth management and asset management. As of December 2025, IGM's wealth management unit had CAD 159 billion in assets under advisement, or AUA, while the firm's asset management unit had CAD 151 billion in third-party assets under management, or AUM.
85GF Score
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