iA Financial Corporation Inc.

IAG.TOTSXFinancial Services● Active

$177.11

+$0.61(+0.35%)

Market Cap$15.8B

P/E Ratio—

52W High$182.99

52W Low$133.36

Avg Volume342K

Open$176.31

Beta0.72

Free Cash Flow Financials Revenue

iA Financial Corporation Inc. (IAG.TO) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

IAG.TO · free cash flow · updated Jun 8, 2026

Core FCF metrics

IAG.TO · FCF · TTM · margin & CAGR

Free cash flow was $3.21B for FY2025 (fiscal year ending 2025-12-31), up 320.8% year-over-year The FCF margin was 28.4%. Five-year CAGR stands at +13.8%.

FY2025 Free Cash Flow$3.21B▲ +320.8% YoY

Trailing 12M (TTM)$2.76Btrailing 4 quarters sum

FCF Margin28.4%$3.21B ÷ revenue

3-Year CAGR+114.4%FY2022 → FY2025

5-Year CAGR+13.8%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

IAG.TO · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$3.44B(233M)$3.21B▲ +320.8%28.4%

FY2024$1.04B(278M)$763.0M▼ 28.2%9.6%

FY2023$1.34B(279M)$1.06B▲ +226.1%12.2%

FY2022$613.0M(287M)$326.0M▲ +617.5%—

FY2021$185.0M(248M)−$63.0M▼ 103.7%-0.5%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

IAG.TO · P/FCF · FCF yield · FCF per share

iA Financial Corporation Inc. (IAG.TO) trades at a FCF yield of 17.50% and a price-to-free-cash-flow ratio of 6.0x. FCF per share stands at $29.70, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

17.50%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$29.70

TTM FCF ÷ Shares Outstanding

Price / FCF

x6.0

Share Price ÷ FCF per Share

EV / FCF (TTM)

x5.5

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

IAG.TO · cash flow statement · operating / investing / financing

For FY2025, iA Financial Corporation Inc. generated $3.44B in operating cash flow and spent 233M in capital expenditures, yielding $3.21B in free cash flow.

Operating Activities

+$3.44B

Cash from core business operations

2025-12-31

Investing Activities

−$2.02B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$712.0M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($3.44B) − |CapEx| (233M) = FCF ($3.21B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

IAG.TO vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

iA Financial Corporation Inc.YOU

IAG.TO

$3.21B+320.8%28.4%

Berkshire Hathaway Inc.

BRK-A

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

iA Financial Corporation Inc. (IAG.TO) reported free cash flow of $3.21B for FY2025 (fiscal year ending 2025-12-31), up 320.8% year-over-year. The FCF margin was 28.4%.

Based on available data, iA Financial Corporation Inc. has maintained positive free cash flow for at least 12 fiscal year(s). FCF peaked at $3.21B in FY2025. The 5-year CAGR stands at +13.8%.

iA Financial Corporation Inc.'s FCF yield is 17.50% and price-to-FCF ratio is 6.0x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

IAG.TO free cash flow · 8 questions

iA Financial Corporation Inc. free cash flow was $3.21B for FY2025, up 320.8% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $2.76B.

IAG.TO free cash flowIAG.TO FCFIAG.TO FCF 2025IAG.TO free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · iA Financial Corporation Inc. · iA Financial Corporation Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026