MORGUARD NORTH AMERICAN RESI (MRG-UN.CA) Stock Fundamental Analysis
TSX:MRG-UN - Toronto Stock Exchange - CA61761E1007 - REIT - Currency: CAD
MRG-UN gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 16 industry peers in the Residential REITs industry. MRG-UN has a medium profitability rating, but doesn't score so well on its financial health evaluation. MRG-UN has a valuation in line with the averages, but it does not seem to be growing. Finally MRG-UN also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
In the past year MRG-UN was profitable.
In the past year MRG-UN had a positive cash flow from operations.
In the past 5 years MRG-UN has always been profitable.
Each year in the past 5 years MRG-UN had a positive operating cash flow.
1.2 Ratios
With a decent Return On Assets value of 2.45%, MRG-UN is doing good in the industry, outperforming 68.75% of the companies in the same industry.
Looking at the Return On Equity, with a value of 5.65%, MRG-UN is in the better half of the industry, outperforming 68.75% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 3.03%, MRG-UN is in line with its industry, outperforming 50.00% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for MRG-UN is in line with the industry average of 3.31%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.45% | ||
| ROE | 5.65% | ||
| ROIC | 3.03% |
ROA(3y)4.04%
ROA(5y)4.95%
ROE(3y)9.04%
ROE(5y)11.44%
ROIC(3y)3.13%
ROIC(5y)3.1%
1.3 Margins
Looking at the Profit Margin, with a value of 32.65%, MRG-UN is in the better half of the industry, outperforming 68.75% of the companies in the same industry.
MRG-UN's Profit Margin has been stable in the last couple of years.
Looking at the Operating Margin, with a value of 51.95%, MRG-UN is doing worse than 62.50% of the companies in the same industry.
MRG-UN's Operating Margin has been stable in the last couple of years.
MRG-UN has a worse Gross Margin (58.28%) than 68.75% of its industry peers.
In the last couple of years the Gross Margin of MRG-UN has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 51.95% | ||
| PM (TTM) | 32.65% | ||
| GM | 58.28% |
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%
2. Health
2.1 Basic Checks
Compared to 1 year ago, MRG-UN has less shares outstanding
MRG-UN has less shares outstanding than it did 5 years ago.
The debt/assets ratio for MRG-UN is higher compared to a year ago.
2.2 Solvency
MRG-UN has an Altman-Z score of 0.72. This is a bad value and indicates that MRG-UN is not financially healthy and even has some risk of bankruptcy.
With a Altman-Z score value of 0.72, MRG-UN is not doing good in the industry: 62.50% of the companies in the same industry are doing better.
MRG-UN has a debt to FCF ratio of 19.40. This is a negative value and a sign of low solvency as MRG-UN would need 19.40 years to pay back of all of its debts.
MRG-UN has a worse Debt to FCF ratio (19.40) than 62.50% of its industry peers.
A Debt/Equity ratio of 0.79 indicates that MRG-UN is somewhat dependend on debt financing.
MRG-UN has a worse Debt to Equity ratio (0.79) than 62.50% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.79 | ||
| Debt/FCF | 19.4 | ||
| Altman-Z | 0.72 |
ROIC/WACCN/A
WACCN/A
2.3 Liquidity
A Current Ratio of 0.58 indicates that MRG-UN may have some problems paying its short term obligations.
Looking at the Current ratio, with a value of 0.58, MRG-UN belongs to the top of the industry, outperforming 81.25% of the companies in the same industry.
MRG-UN has a Quick Ratio of 0.58. This is a bad value and indicates that MRG-UN is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 0.58, MRG-UN belongs to the top of the industry, outperforming 93.75% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.58 | ||
| Quick Ratio | 0.58 |
3. Growth
3.1 Past
The earnings per share for MRG-UN have decreased strongly by -32.41% in the last year.
MRG-UN shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 5.88% yearly.
MRG-UN shows a small growth in Revenue. In the last year, the Revenue has grown by 3.85%.
Measured over the past years, MRG-UN shows a small growth in Revenue. The Revenue has been growing by 6.98% on average per year.
EPS 1Y (TTM)-32.41%
EPS 3Y-23.43%
EPS 5Y5.88%
EPS Q2Q%52.32%
Revenue 1Y (TTM)3.85%
Revenue growth 3Y11.91%
Revenue growth 5Y6.98%
Sales Q2Q%6.51%
3.2 Future
Based on estimates for the next years, MRG-UN will show a very negative growth in Earnings Per Share. The EPS will decrease by -28.92% on average per year.
MRG-UN is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.82% yearly.
EPS Next Y-51.22%
EPS Next 2Y-28.92%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year5.75%
Revenue Next 2Y4.82%
Revenue Next 3YN/A
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.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 8.89, the valuation of MRG-UN can be described as very reasonable.
Based on the Price/Earnings ratio, MRG-UN is valued a bit cheaper than the industry average as 75.00% of the companies are valued more expensively.
Compared to an average S&P500 Price/Earnings ratio of 26.41, MRG-UN is valued rather cheaply.
The Price/Forward Earnings ratio is 12.26, which indicates a correct valuation of MRG-UN.
MRG-UN's Price/Forward Earnings ratio is rather cheap when compared to the industry. MRG-UN is cheaper than 81.25% of the companies in the same industry.
MRG-UN is valuated cheaply when we compare the Price/Forward Earnings ratio to 33.87, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.89 | ||
| Fwd PE | 12.26 |
4.2 Price Multiples
MRG-UN's Price/Free Cash Flow ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 6.68 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
MRG-UN's earnings are expected to decrease with -28.92% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)1.51
EPS Next 2Y-28.92%
EPS Next 3YN/A
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 4.17%, MRG-UN is a good candidate for dividend investing.
MRG-UN's Dividend Yield is a higher than the industry average which is at 4.39.
MRG-UN's Dividend Yield is rather good when compared to the S&P500 average which is at 2.39.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.17% |
5.2 History
The dividend of MRG-UN has a limited annual growth rate of 2.33%.
MRG-UN has paid a dividend for at least 10 years, which is a reliable track record.
MRG-UN has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)2.33%
Div Incr Years3
Div Non Decr Years12
5.3 Sustainability
23.44% of the earnings are spent on dividend by MRG-UN. This is a low number and sustainable payout ratio.
DP23.44%
EPS Next 2Y-28.92%
EPS Next 3YN/A
TSX:MRG-UN (8/11/2025, 7:00:00 PM)
17.96
+0.15 (+0.84%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryResidential REITs
Earnings (Last)
Earnings (Next)
Inst Owners4.31%
Inst Owner ChangeN/A
Ins Owners4.48%
Ins Owner ChangeN/A
Market Cap630.22M
Analysts80
Price Target22.7 (26.39%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.17% |
Yearly Dividend0.49
Dividend Growth(5Y)2.33%
DP23.44%
Div Incr Years3
Div Non Decr Years12
Ex-Date
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)3.49%
PT rev (3m)3.49%
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)-0.28%
Revenue NY rev (3m)-0.28%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.89 | ||
| Fwd PE | 12.26 | ||
| P/S | 1.8 | ||
| P/FCF | 6.68 | ||
| P/OCF | 6.68 | ||
| P/B | 0.31 | ||
| P/tB | 0.31 | ||
| EV/EBITDA | N/A |
EPS(TTM)2.02
EY11.25%
EPS(NY)1.46
Fwd EY8.15%
FCF(TTM)2.69
FCFY14.97%
OCF(TTM)2.69
OCFY14.97%
SpS9.97
BVpS57.61
TBVpS57.61
PEG (NY)N/A
PEG (5Y)1.51
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.45% | ||
| ROE | 5.65% | ||
| ROCE | 4.21% | ||
| ROIC | 3.03% | ||
| ROICexc | 3.06% | ||
| ROICexgc | 3.06% | ||
| OM | 51.95% | ||
| PM (TTM) | 32.65% | ||
| GM | 58.28% | ||
| FCFM | 26.98% |
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-Score4
Asset Turnover0.08
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.79 | ||
| Debt/FCF | 19.4 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 2.73 | ||
| Cash Conversion | N/A | ||
| Profit Quality | 82.61% | ||
| Current Ratio | 0.58 | ||
| Quick Ratio | 0.58 | ||
| Altman-Z | 0.72 |
F-Score4
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)-32.41%
EPS 3Y-23.43%
EPS 5Y5.88%
EPS Q2Q%52.32%
EPS Next Y-51.22%
EPS Next 2Y-28.92%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)3.85%
Revenue growth 3Y11.91%
Revenue growth 5Y6.98%
Sales Q2Q%6.51%
Revenue Next Year5.75%
Revenue Next 2Y4.82%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y0.08%
EBIT growth 3Y11.9%
EBIT growth 5Y6.42%
EBIT Next Year-6.38%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y17.13%
FCF growth 3Y15.25%
FCF growth 5Y11.94%
OCF growth 1Y17.13%
OCF growth 3Y15.25%
OCF growth 5Y9.31%