MELCOR DEVELOPMENTS LTD (MRD.CA) Fundamental Analysis & Valuation

TSX:MRD • CA5854671032

17.49 CAD
+0.39 (+2.28%)
Last: Mar 10, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership News

This MRD.CA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

6

We assign a fundamental rating of 6 out of 10 to MRD. MRD was compared to 30 industry peers in the Real Estate Management & Development industry. While MRD has a great health rating, its profitability is only average at the moment. MRD is valued quite cheap, while showing a decent growth score. This is a good combination! These ratings would make MRD suitable for value investing!


Dividend Valuation Growth Profitability Health

6

1. MRD.CA Profitability Analysis

1.1 Basic Checks

  • MRD had positive earnings in the past year.
  • MRD had a positive operating cash flow in the past year.
  • MRD had positive earnings in each of the past 5 years.
  • In the past 5 years MRD always reported a positive cash flow from operatings.
MRD.CA Yearly Net Income VS EBIT VS OCF VS FCFMRD.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M 100M

1.2 Ratios

  • MRD has a Return On Assets of 2.85%. This is in the better half of the industry: MRD outperforms 63.33% of its industry peers.
  • MRD has a Return On Equity (4.72%) which is in line with its industry peers.
  • MRD has a better Return On Invested Capital (5.50%) than 73.33% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for MRD is significantly below the industry average of 11.26%.
  • The last Return On Invested Capital (5.50%) for MRD is above the 3 year average (3.82%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 2.85%
ROE 4.72%
ROIC 5.5%
ROA(3y)2.91%
ROA(5y)2.39%
ROE(3y)5.16%
ROE(5y)4.32%
ROIC(3y)3.82%
ROIC(5y)3.63%
MRD.CA Yearly ROA, ROE, ROICMRD.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6

1.3 Margins

  • MRD has a Profit Margin of 14.91%. This is comparable to the rest of the industry: MRD outperforms 60.00% of its industry peers.
  • MRD's Profit Margin has declined in the last couple of years.
  • MRD has a better Operating Margin (38.68%) than 73.33% of its industry peers.
  • MRD's Operating Margin has improved in the last couple of years.
  • MRD has a Gross Margin of 47.83%. This is comparable to the rest of the industry: MRD outperforms 53.33% of its industry peers.
  • MRD's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 38.68%
PM (TTM) 14.91%
GM 47.83%
OM growth 3Y0.63%
OM growth 5Y5.89%
PM growth 3Y-18.68%
PM growth 5Y-11.95%
GM growth 3Y0.48%
GM growth 5Y-0.66%
MRD.CA Yearly Profit, Operating, Gross MarginsMRD.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30 40

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ROAROEROICOperating and Profit MarginShow most profitable peers

7

2. MRD.CA Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), MRD is destroying value.
  • The number of shares outstanding for MRD has been reduced compared to 1 year ago.
  • MRD has less shares outstanding than it did 5 years ago.
  • MRD has a better debt/assets ratio than last year.
MRD.CA Yearly Shares OutstandingMRD.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M
MRD.CA Yearly Total Debt VS Total AssetsMRD.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

2.2 Solvency

  • MRD has an Altman-Z score of 1.69. This is a bad value and indicates that MRD is not financially healthy and even has some risk of bankruptcy.
  • The Altman-Z score of MRD (1.69) is better than 66.67% of its industry peers.
  • The Debt to FCF ratio of MRD is 5.63, which is a neutral value as it means it would take MRD, 5.63 years of fcf income to pay off all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 5.63, MRD belongs to the top of the industry, outperforming 86.67% of the companies in the same industry.
  • MRD has a Debt/Equity ratio of 0.48. This is a healthy value indicating a solid balance between debt and equity.
  • Looking at the Debt to Equity ratio, with a value of 0.48, MRD is in the better half of the industry, outperforming 63.33% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.48
Debt/FCF 5.63
Altman-Z 1.69
ROIC/WACC0.79
WACC7%
MRD.CA Yearly LT Debt VS Equity VS FCFMRD.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M 800M 1B

2.3 Liquidity

  • A Current Ratio of 3.44 indicates that MRD has no problem at all paying its short term obligations.
  • MRD has a Current ratio of 3.44. This is amongst the best in the industry. MRD outperforms 83.33% of its industry peers.
  • A Quick Ratio of 3.44 indicates that MRD has no problem at all paying its short term obligations.
  • MRD has a Quick ratio of 3.44. This is amongst the best in the industry. MRD outperforms 83.33% of its industry peers.
Industry RankSector Rank
Current Ratio 3.44
Quick Ratio 3.44
MRD.CA Yearly Current Assets VS Current LiabilitesMRD.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. MRD.CA Growth Analysis

3.1 Past

  • MRD shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 414.41%, which is quite impressive.
  • The Earnings Per Share has been decreasing by -0.67% on average over the past years.
  • MRD shows a strong growth in Revenue. In the last year, the Revenue has grown by 29.55%.
  • The Revenue has been growing by 10.94% on average over the past years. This is quite good.
EPS 1Y (TTM)414.41%
EPS 3Y-13.69%
EPS 5Y-0.67%
EPS Q2Q%140.67%
Revenue 1Y (TTM)29.55%
Revenue growth 3Y3.46%
Revenue growth 5Y10.94%
Sales Q2Q%21.9%

3.2 Future

  • No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
  • No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
EPS Next Y-5.24%
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-3.26%
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

  • No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
  • No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
MRD.CA Yearly Revenue VS EstimatesMRD.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M
MRD.CA Yearly EPS VS EstimatesMRD.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 0.5 1 1.5 2

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7

4. MRD.CA Valuation Analysis

4.1 Price/Earnings Ratio

  • MRD is valuated reasonably with a Price/Earnings ratio of 9.21.
  • MRD's Price/Earnings ratio is a bit cheaper when compared to the industry. MRD is cheaper than 76.67% of the companies in the same industry.
  • MRD's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 26.25.
  • MRD is valuated reasonably with a Price/Forward Earnings ratio of 8.70.
  • Based on the Price/Forward Earnings ratio, MRD is valued cheaply inside the industry as 96.67% of the companies are valued more expensively.
  • The average S&P500 Price/Forward Earnings ratio is at 24.39. MRD is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 9.21
Fwd PE 8.7
MRD.CA Price Earnings VS Forward Price EarningsMRD.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • 96.67% of the companies in the same industry are more expensive than MRD, based on the Enterprise Value to EBITDA ratio.
  • MRD's Price/Free Cash Flow ratio is rather cheap when compared to the industry. MRD is cheaper than 93.33% of the companies in the same industry.
Industry RankSector Rank
P/FCF 4.99
EV/EBITDA 6.78
MRD.CA Per share dataMRD.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40

4.3 Compensation for Growth

  • MRD has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2YN/A
EPS Next 3YN/A

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. MRD.CA Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 2.99%, MRD has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 2.48, MRD pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.82, MRD pays a better dividend.
Industry RankSector Rank
Dividend Yield 2.99%

5.2 History

  • The dividend of MRD decreases each year by -2.57%.
  • MRD has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)-2.57%
Div Incr Years0
Div Non Decr Years0
MRD.CA Yearly Dividends per shareMRD.CA Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6

5.3 Sustainability

  • MRD pays out 23.67% of its income as dividend. This is a sustainable payout ratio.
  • The Dividend Rate of MRD has been decling, while earnings will also be declining. This means the current dividend is most likely not sustainable.
DP23.67%
EPS Next 2YN/A
EPS Next 3YN/A
MRD.CA Yearly Income VS Free CF VS DividendMRD.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20M -20M 40M 60M 80M
MRD.CA Dividend Payout.MRD.CA Dividend Payout, showing the Payout Ratio.MRD.CA Dividend Payout.PayoutRetained Earnings

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MRD.CA Fundamentals: All Metrics, Ratios and Statistics

MELCOR DEVELOPMENTS LTD

TSX:MRD (3/10/2026, 7:00:00 PM)

17.49

+0.39 (+2.28%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryReal Estate Management & Development
Earnings (Last)11-06
Earnings (Next)03-10
Inst Owners8.79%
Inst Owner ChangeN/A
Ins Owners14.23%
Ins Owner ChangeN/A
Market Cap525.92M
Revenue(TTM)393.96M
Net Income(TTM)58.75M
Analysts45.71
Price TargetN/A
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.99%
Yearly Dividend0.44
Dividend Growth(5Y)-2.57%
DP23.67%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 9.21
Fwd PE 8.7
P/S 1.33
P/FCF 4.99
P/OCF 4.56
P/B 0.42
P/tB 0.42
EV/EBITDA 6.78
EPS(TTM)1.9
EY10.86%
EPS(NY)2.01
Fwd EY11.49%
FCF(TTM)3.51
FCFY20.05%
OCF(TTM)3.84
OCFY21.95%
SpS13.1
BVpS41.43
TBVpS41.43
PEG (NY)N/A
PEG (5Y)N/A
Graham Number42.09
Profitability
Industry RankSector Rank
ROA 2.85%
ROE 4.72%
ROCE 7.63%
ROIC 5.5%
ROICexc 5.73%
ROICexgc 5.9%
OM 38.68%
PM (TTM) 14.91%
GM 47.83%
FCFM 26.77%
ROA(3y)2.91%
ROA(5y)2.39%
ROE(3y)5.16%
ROE(5y)4.32%
ROIC(3y)3.82%
ROIC(5y)3.63%
ROICexc(3y)3.93%
ROICexc(5y)3.72%
ROICexgc(3y)4.06%
ROICexgc(5y)3.84%
ROCE(3y)5.31%
ROCE(5y)5.03%
ROICexgc growth 3Y4.23%
ROICexgc growth 5Y17.72%
ROICexc growth 3Y4.16%
ROICexc growth 5Y17.7%
OM growth 3Y0.63%
OM growth 5Y5.89%
PM growth 3Y-18.68%
PM growth 5Y-11.95%
GM growth 3Y0.48%
GM growth 5Y-0.66%
F-Score9
Asset Turnover0.19
Health
Industry RankSector Rank
Debt/Equity 0.48
Debt/FCF 5.63
Debt/EBITDA 3.87
Cap/Depr 841.25%
Cap/Sales 2.54%
Interest Coverage 250
Cash Conversion 75.16%
Profit Quality 179.48%
Current Ratio 3.44
Quick Ratio 3.44
Altman-Z 1.69
F-Score9
WACC7%
ROIC/WACC0.79
Cap/Depr(3y)1460.36%
Cap/Depr(5y)1587.21%
Cap/Sales(3y)6.3%
Cap/Sales(5y)7.47%
Profit Quality(3y)95.67%
Profit Quality(5y)124.25%
High Growth Momentum
Growth
EPS 1Y (TTM)414.41%
EPS 3Y-13.69%
EPS 5Y-0.67%
EPS Q2Q%140.67%
EPS Next Y-5.24%
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)29.55%
Revenue growth 3Y3.46%
Revenue growth 5Y10.94%
Sales Q2Q%21.9%
Revenue Next Year-3.26%
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y40.36%
EBIT growth 3Y4.12%
EBIT growth 5Y17.48%
EBIT Next Year-3.66%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y265.25%
FCF growth 3Y18.66%
FCF growth 5Y52.08%
OCF growth 1Y122.64%
OCF growth 3Y10.64%
OCF growth 5Y25.86%

MELCOR DEVELOPMENTS LTD / MRD.CA FAQ

What is the ChartMill fundamental rating of MELCOR DEVELOPMENTS LTD (MRD.CA) stock?

ChartMill assigns a fundamental rating of 6 / 10 to MRD.CA.


What is the valuation status for MRD stock?

ChartMill assigns a valuation rating of 7 / 10 to MELCOR DEVELOPMENTS LTD (MRD.CA). This can be considered as Undervalued.


What is the profitability of MRD stock?

MELCOR DEVELOPMENTS LTD (MRD.CA) has a profitability rating of 6 / 10.


What is the valuation of MELCOR DEVELOPMENTS LTD based on its PE and PB ratios?

The Price/Earnings (PE) ratio for MELCOR DEVELOPMENTS LTD (MRD.CA) is 9.21 and the Price/Book (PB) ratio is 0.42.


What is the earnings growth outlook for MELCOR DEVELOPMENTS LTD?

The Earnings per Share (EPS) of MELCOR DEVELOPMENTS LTD (MRD.CA) is expected to decline by -5.24% in the next year.