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IGM FinancialTSX:IGM -1.33%84 ROC (Joel Greenblatt) % is 40.56% as of Mar. 2026, which is 58% below its 10-year median of 97.60. GuruFocus rates TSX:IGM with a GF Score™ of 84/100 and a GF Value™ of C$50.94 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 628 Asset Management companies, IGM Financial ranks worse than 53.34% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. IGM Financial's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 40.56%.
The historical rank and industry rank for IGM Financial's ROC (Joel Greenblatt) % or its related term are showing as below:
TSX:IGM'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 32.76 Med: 97.6 Max: 297.38
Current: 46.96
During the past 13 years, IGM Financial's highest ROC (Joel Greenblatt) % was 297.38%. The lowest was 32.76%. And the median was 97.60%.
TSX:IGM's ROC (Joel Greenblatt) % is ranked worse than 53.34% of 628
companies
in the Asset Management industry
Industry Median: 62.7
vs TSX:IGM: 46.96
IGM Financial's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -20.60% per year.
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
IGM Financial ROC (Joel Greenblatt) % Related Terms
IGM Financial ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for IGM Financial's ROC (Joel Greenblatt) % 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: ROC (Joel Greenblatt) % Comparison
For the Asset Management subindustry, IGM Financial's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % 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 ROC (Joel Greenblatt) % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, IGM Financial's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where IGM Financial's ROC (Joel Greenblatt) % falls into.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* 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.
What does a ROC (Joel Greenblatt) % of 40.56% mean?
IGM Financial (TSX:IGM) has a ROC (Joel Greenblatt) % of 40.56% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on IGM Financial and its competitors. This is 58% below median its historical median of 97.60. Over the past decade, IGM Financial's ROC (Joel Greenblatt) % has ranged from 32.76 to 297.38. According to the industry distribution chart, IGM Financial ranks #335 out of 628 companies in the Asset Management industry, placing it in the top 53.3%.
Is IGM Financial's ROC (Joel Greenblatt) % too high?
IGM Financial's current ROC (Joel Greenblatt) % of 40.56% is 58% below median its 10-year median of 97.60. Over the past 10 years, this metric has ranged from a low of 32.76 to a high of 297.38. The Asset Management industry median ROC (Joel Greenblatt) % is 62.70. IGM Financial's value of 40.56% is 35.3% below this industry median. Based on the distribution chart, IGM Financial ranks #335 out of 628 companies in the Asset Management industry, which is below the industry midpoint. Overall, IGM Financial has a GF Score™ of 84/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does IGM Financial's ROC (Joel Greenblatt) % compare to BLK and BX?
According to the Asset Management industry distribution chart, IGM Financial ranks #335 out of 628 companies for ROC (Joel Greenblatt) %. This places IGM Financial in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 62.70. IGM Financial's value of 40.56% is 35.3% below this benchmark. Historically, IGM Financial's own ROC (Joel Greenblatt) % has ranged from 32.76 to 297.38 over the past decade. While the company's 10-year median is 97.60 vs. the industry median of 62.70, IGM Financial has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for an Asset Management company?
The median ROC (Joel Greenblatt) % among Asset Management companies is 62.70, based on 628 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. IGM Financial's current ROC (Joel Greenblatt) % of 40.56% is 35.3% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on IGM Financial and its competitors. For the Asset Management industry, the median ROC (Joel Greenblatt) % is 62.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. IGM Financial's current ROC (Joel Greenblatt) % is 40.56%, which is 58% below median its own 10-year median of 97.60. 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$50.94, compared to a current price of C$85.85 — trading 68.5% above its estimated fair value. The current ROC (Joel Greenblatt) % is 40.56%, which is 58% below median its 10-year median of 97.60 and 35.3% below the Asset Management industry median of 62.70. IGM Financial's overall GF Score™ is 84/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For IGM Financial (TSX:IGM), the current ROC (Joel Greenblatt) % is 40.56% as of Mar. 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$85.85 is trading 68.5% above its estimated GF Value™ of C$50.94.
GuruFocus considers IGM Financial to be Significantly Overvalued.
Key valuation signals for TSX:IGM:
ROC (Joel Greenblatt) %: 40.56% (58% below median its 10-year median of 97.60)
GF Value™: C$50.94 vs. price of C$85.85 (68.5% above fair value)
Industry Position: 35.3% below the Asset Management median (#335 of 628)
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.
84GF Score
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