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AGF Management (AGF) investor relations material
AGF Management Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
AUM and fee-earning assets surpassed $60.4 billion in 2025, up 13% year-over-year, with retail mutual fund net sales reaching $951 million and ETF/SMA AUM growing 63% to $4.14 billion.
Adjusted diluted EPS rose 16% year-over-year to $1.93, and adjusted EBITDA for the year was $186 million, up 12% from the prior year.
Recognized as one of Greater Toronto's Top Employers for 2026 and received multiple industry awards for fund performance and workplace excellence.
Leadership transition with Judy Goldring appointed CEO and key changes in senior management to support growth strategy.
New product launches included AGF NHC Tactical Alpha Fund and AGF Enhanced U.S. Income Plus Fund, expanding alternative and income-focused offerings.
Financial highlights
Adjusted EBITDA for 2025 was $186 million, up 12% year-over-year, with a margin of 42.4%; Q4 adjusted EBITDA was $52.4 million.
Adjusted net income attributable to equity owners grew 17% year-over-year to $130.5 million.
Free cash flow for the year was $117.6 million, up 23% from the prior year; 27% of free cash flow paid as dividends.
Net cash at year-end was $6 million, with $449 million in investments and $208 million available on the credit facility.
Returned $56 million to shareholders via dividends and share buybacks in 2025; repurchased 2 million shares during the year.
Outlook and guidance
2026 adjusted SG&A expense guidance set at $256 million, reflecting a reset of performance-based compensation.
Focus for 2026 includes delivering consistent investment performance, maintaining sales momentum, expanding private capital and alternatives, and disciplined expense management.
Management remains committed to executing strategic priorities and diversifying the client base.
- TimeTickerHeadlineOpen
- 6 FebWASH
Q4 2025 net income up 48%, adjusted EPS up 41%, AUA $7.8B, dividend yield 7.58%. - 6 FebJ
Strong growth, digital innovation, and margin expansion drive robust multi-year financial outlook. - 6 Feb004020
Operating profit rose on cost savings and high-value sales, with major US expansion underway. - 6 FebJOUT
Net sales up 31%, gross margin at 36.6%, and net loss narrowed to $3.3 million. - 6 FebPECO
Record 2025 occupancy and 7% Core FFO growth; 2026 targets 5.5% FFO growth and strong acquisitions. - 6 FebPROV
Q2 FY2026 net income rose 65% year-over-year, with higher margins and strong credit quality. - 6 FebNVDA
AI-driven digital twins and accelerated computing are set to revolutionize industrial design and manufacturing. - 6 FebCDP
2025 FFO/share rose 5.8% to $2.72, with strong leasing and investment; 2026 guidance signals more growth. - 6 FebCRI
Q1 2025 saw record revenue, a return to profit, and major new contracts in space technology. - 6 FebCRI
Net loss widened to 7.5m PLN in H1 2024 as revenue fell and R&D costs remained high.
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