IGM Financial (IGM) Q4 2025 earnings summary

Executive summary

• Achieved record adjusted EPS of $4.61 (CAD 4.61) in 2025, up 16.7%–17% year-over-year, with diversified growth across wealth and asset management segments.

• Consolidated AUM & A including strategic investments reached $566.2B, up 17.1% year-over-year, with strong net flows and client asset growth.

• Strategic investments in Rockefeller and Wealthsimple showcased significant value creation and diversification, with Rockefeller recapitalization nearly doubling investment value since April 2023.

• Returned $827MM to shareholders in 2025 through dividends and share repurchases, including a 10% increase to the quarterly dividend and a new NCIB for up to 5% of shares outstanding.

• Recognized among Canada's top 100 employers and Corporate Knights Global 100 Most Sustainable Companies.

Financial highlights

• Q4 2025 adjusted EPS was $1.27, up 21% year-over-year; reported EPS was $1.36, up 27.1% year-over-year.

• Consolidated 2025 adjusted net earnings rose 16%–16.4% year-over-year, with Q4 adjusted net earnings up 20.6%.

• AUM&A reached $310.1B, up 14.7% year-over-year; including strategic investments, AUM&A was $566.2B, up 17.1%.

• Q4 2025 net inflows were $2.2B for IG Wealth and Mackenzie; full-year net flows totaled $8.8B.

• Returned $263MM to shareholders in Q4, including $130MM in share repurchases.

Outlook and guidance

• Entering 2026 with strong momentum, record client assets, and $1 billion in unallocated capital, aiming to accelerate growth and increase capital returns.

• Intends to repurchase up to 5% of shares outstanding and increase quarterly dividend by 10%.

• Expense growth guidance for 2026 set at 4%, with focus on HNW and mass affluent segments and investment in core businesses.