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MORGUARD NORTH AMERICAN (MRG-DB-B.CA) Stock Overview

TSX:MRG-DB-B - CA61761EAC45

103 CAD
+0.98 (+0.96%)
Last: 8/28/2025, 7:00:00 PM
Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to MRG-DB-B. MRG-DB-B was compared to 16 industry peers in the Residential REITs industry. MRG-DB-B has a medium profitability rating, but doesn't score so well on its financial health evaluation. MRG-DB-B is valued expensive and it does not seem to be growing.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

MRG-DB-B had positive earnings in the past year.
In the past year MRG-DB-B had a positive cash flow from operations.
MRG-DB-B had positive earnings in each of the past 5 years.
MRG-DB-B had a positive operating cash flow in each of the past 5 years.
MRG-DB-B.CA Yearly Net Income VS EBIT VS OCF VS FCFMRG-DB-B.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M

1.2 Ratios

Looking at the Return On Assets, with a value of 2.10%, MRG-DB-B is in the better half of the industry, outperforming 62.50% of the companies in the same industry.
MRG-DB-B has a better Return On Equity (4.83%) than 62.50% of its industry peers.
With a Return On Invested Capital value of 3.15%, MRG-DB-B perfoms like the industry average, outperforming 56.25% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for MRG-DB-B is in line with the industry average of 2.99%.
The 3 year average ROIC (3.13%) for MRG-DB-B is below the current ROIC(3.15%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 2.1%
ROE 4.83%
ROIC 3.15%
ROA(3y)4.04%
ROA(5y)4.95%
ROE(3y)9.04%
ROE(5y)11.44%
ROIC(3y)3.13%
ROIC(5y)3.1%
MRG-DB-B.CA Yearly ROA, ROE, ROICMRG-DB-B.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

With a decent Profit Margin value of 26.97%, MRG-DB-B is doing good in the industry, outperforming 62.50% of the companies in the same industry.
In the last couple of years the Profit Margin of MRG-DB-B has remained more or less at the same level.
MRG-DB-B has a Operating Margin (52.17%) which is comparable to the rest of the industry.
In the last couple of years the Operating Margin of MRG-DB-B has remained more or less at the same level.
MRG-DB-B's Gross Margin of 58.53% is on the low side compared to the rest of the industry. MRG-DB-B is outperformed by 75.00% of its industry peers.
MRG-DB-B's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 52.17%
PM (TTM) 26.97%
GM 58.53%
OM growth 3Y-0.01%
OM growth 5Y-0.52%
PM growth 3Y-33.04%
PM growth 5Y-1.1%
GM growth 3Y-0.62%
GM growth 5Y-0.82%
MRG-DB-B.CA Yearly Profit, Operating, Gross MarginsMRG-DB-B.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60 80

3

2. Health

2.1 Basic Checks

MRG-DB-B has less shares outstanding than it did 1 year ago.
Compared to 5 years ago, MRG-DB-B has less shares outstanding
MRG-DB-B has a worse debt/assets ratio than last year.
MRG-DB-B.CA Yearly Shares OutstandingMRG-DB-B.CA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M 50M
MRG-DB-B.CA Yearly Total Debt VS Total AssetsMRG-DB-B.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B

2.2 Solvency

Based on the Altman-Z score of 1.44, we must say that MRG-DB-B is in the distress zone and has some risk of bankruptcy.
MRG-DB-B has a better Altman-Z score (1.44) than 100.00% of its industry peers.
The Debt to FCF ratio of MRG-DB-B is 19.06, which is on the high side as it means it would take MRG-DB-B, 19.06 years of fcf income to pay off all of its debts.
With a Debt to FCF ratio value of 19.06, MRG-DB-B is not doing good in the industry: 68.75% of the companies in the same industry are doing better.
MRG-DB-B has a Debt/Equity ratio of 0.77. This is a neutral value indicating MRG-DB-B is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.77, MRG-DB-B is doing worse than 68.75% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.77
Debt/FCF 19.06
Altman-Z 1.44
ROIC/WACCN/A
WACCN/A
MRG-DB-B.CA Yearly LT Debt VS Equity VS FCFMRG-DB-B.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

2.3 Liquidity

MRG-DB-B has a Current Ratio of 0.52. This is a bad value and indicates that MRG-DB-B is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 0.52, MRG-DB-B is in the better half of the industry, outperforming 75.00% of the companies in the same industry.
A Quick Ratio of 0.52 indicates that MRG-DB-B may have some problems paying its short term obligations.
The Quick ratio of MRG-DB-B (0.52) is better than 75.00% of its industry peers.
Industry RankSector Rank
Current Ratio 0.52
Quick Ratio 0.52
MRG-DB-B.CA Yearly Current Assets VS Current LiabilitesMRG-DB-B.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M

2

3. Growth

3.1 Past

MRG-DB-B shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -30.15%.
The Earnings Per Share has been growing slightly by 5.88% on average over the past years.
MRG-DB-B shows a small growth in Revenue. In the last year, the Revenue has grown by 3.93%.
Measured over the past years, MRG-DB-B shows a small growth in Revenue. The Revenue has been growing by 6.98% on average per year.
EPS 1Y (TTM)-30.15%
EPS 3Y-23.43%
EPS 5Y5.88%
EPS Q2Q%-37.17%
Revenue 1Y (TTM)3.93%
Revenue growth 3Y11.91%
Revenue growth 5Y6.98%
Sales Q2Q%3.24%

3.2 Future

MRG-DB-B is expected to show a very negative growth in Earnings Per Share. In the coming years, the EPS will decrease by -19.63% yearly.
MRG-DB-B is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.27% yearly.
EPS Next Y-16.03%
EPS Next 2Y-29.17%
EPS Next 3Y-19.63%
EPS Next 5YN/A
Revenue Next Year4.91%
Revenue Next 2Y4.44%
Revenue Next 3Y4.27%
Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
MRG-DB-B.CA Yearly Revenue VS EstimatesMRG-DB-B.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 100M 200M 300M
MRG-DB-B.CA Yearly EPS VS EstimatesMRG-DB-B.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2 4 6

1

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 60.59, MRG-DB-B can be considered very expensive at the moment.
The rest of the industry has a similar Price/Earnings ratio as MRG-DB-B.
MRG-DB-B is valuated expensively when we compare the Price/Earnings ratio to 27.08, which is the current average of the S&P500 Index.
The Price/Forward Earnings ratio is 70.82, which means the current valuation is very expensive for MRG-DB-B.
81.25% of the companies in the same industry are cheaper than MRG-DB-B, based on the Price/Forward Earnings ratio.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.72, MRG-DB-B is valued quite expensively.
Industry RankSector Rank
PE 60.59
Fwd PE 70.82
MRG-DB-B.CA Price Earnings VS Forward Price EarningsMRG-DB-B.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

Based on the Price/Free Cash Flow ratio, MRG-DB-B is valued expensively inside the industry as 93.75% of the companies are valued cheaper.
Industry RankSector Rank
P/FCF 38.94
EV/EBITDA N/A
MRG-DB-B.CA Per share dataMRG-DB-B.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40 50

4.3 Compensation for Growth

The decent profitability rating of MRG-DB-B may justify a higher PE ratio.
A cheap valuation may be justified as MRG-DB-B's earnings are expected to decrease with -19.63% in the coming years.
PEG (NY)N/A
PEG (5Y)10.31
EPS Next 2Y-29.17%
EPS Next 3Y-19.63%

5

5. Dividend

5.1 Amount

MRG-DB-B has a Yearly Dividend Yield of 4.17%, which is a nice return.
Compared to an average industry Dividend Yield of 4.52, MRG-DB-B pays a bit more dividend than its industry peers.
MRG-DB-B's Dividend Yield is rather good when compared to the S&P500 average which is at 2.35.
Industry RankSector Rank
Dividend Yield 4.17%

5.2 History

The dividend of MRG-DB-B has a limited annual growth rate of 2.33%.
MRG-DB-B is new to the dividend game and has less than 3 years of track record.
Dividend Growth(5Y)2.33%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

28.03% of the earnings are spent on dividend by MRG-DB-B. This is a low number and sustainable payout ratio.
DP28.03%
EPS Next 2Y-29.17%
EPS Next 3Y-19.63%
MRG-DB-B.CA Yearly Income VS Free CF VS DividendMRG-DB-B.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M
MRG-DB-B.CA Dividend Payout.MRG-DB-B.CA Dividend Payout, showing the Payout Ratio.MRG-DB-B.CA Dividend Payout.PayoutRetained Earnings

MORGUARD NORTH AMERICAN

TSX:MRG-DB-B (8/28/2025, 7:00:00 PM)

103

+0.98 (+0.96%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryResidential REITs
Earnings (Last)07-29 2025-07-29
Earnings (Next)10-27 2025-10-27
Inst Owners4.31%
Inst Owner ChangeN/A
Ins Owners4.48%
Ins Owner ChangeN/A
Market Cap3.62B
Analysts80
Price Target122.5 (18.93%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.17%
Yearly Dividend0.49
Dividend Growth(5Y)2.33%
DP28.03%
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)-4.74%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)72.14%
EPS NY rev (3m)72.14%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.8%
Revenue NY rev (3m)-1.07%
Valuation
Industry RankSector Rank
PE 60.59
Fwd PE 70.82
P/S 10.26
P/FCF 38.94
P/OCF 38.94
P/B 1.84
P/tB 1.84
EV/EBITDA N/A
EPS(TTM)1.7
EY1.65%
EPS(NY)1.45
Fwd EY1.41%
FCF(TTM)2.65
FCFY2.57%
OCF(TTM)2.65
OCFY2.57%
SpS10.04
BVpS56.12
TBVpS56.12
PEG (NY)N/A
PEG (5Y)10.31
Profitability
Industry RankSector Rank
ROA 2.1%
ROE 4.83%
ROCE 4.38%
ROIC 3.15%
ROICexc 3.2%
ROICexgc 3.2%
OM 52.17%
PM (TTM) 26.97%
GM 58.53%
FCFM 26.34%
ROA(3y)4.04%
ROA(5y)4.95%
ROE(3y)9.04%
ROE(5y)11.44%
ROIC(3y)3.13%
ROIC(5y)3.1%
ROICexc(3y)3.15%
ROICexc(5y)3.12%
ROICexgc(3y)3.15%
ROICexgc(5y)3.12%
ROCE(3y)4.34%
ROCE(5y)4.31%
ROICexcg growth 3Y3.05%
ROICexcg growth 5Y-1.05%
ROICexc growth 3Y3.05%
ROICexc growth 5Y-1.05%
OM growth 3Y-0.01%
OM growth 5Y-0.52%
PM growth 3Y-33.04%
PM growth 5Y-1.1%
GM growth 3Y-0.62%
GM growth 5Y-0.82%
F-Score5
Asset Turnover0.08
Health
Industry RankSector Rank
Debt/Equity 0.77
Debt/FCF 19.06
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 2.68
Cash Conversion N/A
Profit Quality 97.69%
Current Ratio 0.52
Quick Ratio 0.52
Altman-Z 1.44
F-Score5
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)60.15%
Profit Quality(5y)46.4%
High Growth Momentum
Growth
EPS 1Y (TTM)-30.15%
EPS 3Y-23.43%
EPS 5Y5.88%
EPS Q2Q%-37.17%
EPS Next Y-16.03%
EPS Next 2Y-29.17%
EPS Next 3Y-19.63%
EPS Next 5YN/A
Revenue 1Y (TTM)3.93%
Revenue growth 3Y11.91%
Revenue growth 5Y6.98%
Sales Q2Q%3.24%
Revenue Next Year4.91%
Revenue Next 2Y4.44%
Revenue Next 3Y4.27%
Revenue Next 5YN/A
EBIT growth 1Y0.67%
EBIT growth 3Y11.9%
EBIT growth 5Y6.42%
EBIT Next Year-6.38%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-0.05%
FCF growth 3Y15.25%
FCF growth 5Y11.94%
OCF growth 1Y-0.05%
OCF growth 3Y15.25%
OCF growth 5Y9.31%