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ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. AGF Management's annualized return on invested capital (ROIC %) for the quarter that ended in May. 2026 was 7.33%.
As of today (2026-09-01), AGF Management's WACC % is 10.11%. AGF Management's ROIC % is 6.48% (calculated using TTM income statement data).
AGF Management earns returns that do not match up to its cost of capital. It will destroy value as it grows.
ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. The reason book values of debt and equity are used is because the book values are the capital the company received when issuing the debt or receiving the equity investments.
There are four key components to this definition. The first is the use of operating income or EBIT rather than net income in the numerator. The second is the tax adjustment to this operating income or EBIT, computed as a hypothetical tax based on an effective or marginal tax rate. The third is the use of book values for invested capital, rather than market values. The final is the timing difference; the capital invested is from the end of the prior year whereas the operating income or EBIT is the current year's number.
Why is ROIC % important?
Because it costs money to raise capital. A firm that generates higher returns on investment than it costs the company to raise the capital needed for that investment is earning excess returns. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases, whereas a firm that earns returns that do not match up to its cost of capital will destroy value as it grows.
As of today, AGF Management's WACC % is 10.11%. AGF Management's ROIC % is 6.48% (calculated using TTM income statement data).
AGF Management earns returns that do not match up to its cost of capital. It will destroy value as it grows.
Be Aware
Like ROE % and ROA %, ROIC % is calculated with only 12 months of data. Fluctuations in the company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
AGF Management ROIC % Related Terms
AGF Management ROIC % Historical Data
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The historical data trend for AGF Management's ROIC % 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.
For the Asset Management subindustry, AGF Management's ROIC %, along with its competitors' market caps and ROIC % 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.
AGF Management ROIC % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, AGF Management's ROIC % distribution charts can be found below:
* The bar in red indicates where AGF Management's ROIC % falls into.
Note:
The Operating Income data used here is four times the quarterly (May. 2026) data.
The tax rate is limited to between 0% and 100%.
* 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.
AGF Management (FRA:A3J) has a ROIC % of 7.33% as of May. 2026. Return on invested capital is the ratio of current-period net income to average two-period invested capital. View historical data on AGF Management and its competitors.
Is AGF Management's ROIC % too high?
AGF Management's current ROIC % is 7.33%. The Asset Management industry median ROIC % is 1.64. AGF Management's value of 7.33% is 348.3% above this industry median. Overall, AGF Management has a GF Score™ of 68/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does AGF Management's ROIC % compare to BLK and BX?
AGF Management's ROIC % of 7.33% can be compared against companies in the Asset Management industry. The industry median ROIC % is 1.64. AGF Management's value of 7.33% is 348.3% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROIC % for an Asset Management company?
The median ROIC % among Asset Management companies is 1.64, based on 714 companies in the industry. Companies in the top quartile (top 25%) have a ROIC % significantly above this median, while those in the bottom quartile fall well below. However, ROIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. AGF Management's current ROIC % of 7.33% is 348.3% above 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 ROIC % mean?
A high ROIC % can signal that a stock is expensive relative to its fundamentals. Return on invested capital is the ratio of current-period net income to average two-period invested capital. View historical data on AGF Management and its competitors. For the Asset Management industry, the median ROIC % is 1.64 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. AGF Management's current ROIC % is 7.33%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is AGF Management stock overvalued right now?
Based on GuruFocus' analysis, AGF Management (FRA:A3J) is currently considered Significantly Overvalued. The stock's GF Value™ is €7.97, compared to a current price of €13.70 — trading 71.9% above its estimated fair value. The current ROIC % is 7.33% and 348.3% above the Asset Management industry median of 1.64. AGF Management's overall GF Score™ is 68/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROIC % calculated?
ROIC % is calculated from a company's financial statements. For AGF Management (FRA:A3J), the current ROIC % is 7.33% as of May. 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 AGF Management (FRA:A3J) Overvalued in 2026?
Based on GuruFocus' analysis, AGF Management stock appears to be overvalued.
The current stock price of €13.70 is trading 71.9% above its estimated GF Value™ of €7.97.
GuruFocus considers AGF Management to be Significantly Overvalued.
Key valuation signals for FRA:A3J:
ROIC %: 7.33%
GF Value™: €7.97 vs. price of €13.70 (71.9% above fair value)
Industry Position: 348.3% above the Asset Management median
No single metric tells the full story. See the FRA:A3J stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
AGF Management is a Canadian-based independent asset manager. As of November 2025, the firm had CAD 60.4 billion in total assets under management with CAD 35.0 billion in retail mutual funds, CAD 9.5 billion in high net-worth private wealth, and the remaining in institutional, ETF, and private assets. AGF Management's funds are weighted toward equities with roughly three-quarters of the firm's retail AUM tied to equities.
68GF Score
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