MORGUARD NORTH AMERICAN RESI (MRG-UN.CA) Stock Fundamental Analysis
TSX:MRG-UN - CA61761E1007 - REIT
18.96 CAD
+0.44 (+2.38%)
Overall MRG-UN gets a fundamental rating of 4 out of 10. We evaluated MRG-UN against 17 industry peers in the Residential REITs industry. While MRG-UN is still in line with the averages on profitability rating, there are concerns on its financial health. MRG-UN has a valuation in line with the averages, but on the other hand it scores bad on growth. Finally MRG-UN also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
MRG-UN had positive earnings in the past year.
In the past year MRG-UN had a positive cash flow from operations.
In the past 5 years MRG-UN has always been profitable.
In the past 5 years MRG-UN always reported a positive cash flow from operatings.
1.2 Ratios
With a decent Return On Assets value of 2.10%, MRG-UN is doing good in the industry, outperforming 70.59% of the companies in the same industry.
With a decent Return On Equity value of 4.83%, MRG-UN is doing good in the industry, outperforming 70.59% of the companies in the same industry.
With a decent Return On Invested Capital value of 3.15%, MRG-UN is doing good in the industry, outperforming 64.71% 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 2.80%.
The last Return On Invested Capital (3.15%) for MRG-UN is above the 3 year average (3.13%), which is a sign of increasing profitability.
| Industry Rank | Sector 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%
1.3 Margins
The Profit Margin of MRG-UN (26.97%) is better than 70.59% of its industry peers.
MRG-UN's Profit Margin has been stable in the last couple of years.
Looking at the Operating Margin, with a value of 52.17%, MRG-UN is in line with its industry, outperforming 52.94% of the companies in the same industry.
In the last couple of years the Operating Margin of MRG-UN has remained more or less at the same level.
The Gross Margin of MRG-UN (58.53%) is worse than 64.71% 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 | 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%
2. Health
2.1 Basic Checks
The number of shares outstanding for MRG-UN has been reduced compared to 1 year ago.
Compared to 5 years ago, MRG-UN has less shares outstanding
MRG-UN has a worse debt/assets ratio than last year.
2.2 Solvency
MRG-UN has an Altman-Z score of 0.75. This is a bad value and indicates that MRG-UN is not financially healthy and even has some risk of bankruptcy.
MRG-UN has a Altman-Z score of 0.75. This is comparable to the rest of the industry: MRG-UN outperforms 47.06% of its industry peers.
MRG-UN has a debt to FCF ratio of 19.06. This is a negative value and a sign of low solvency as MRG-UN would need 19.06 years to pay back of all of its debts.
The Debt to FCF ratio of MRG-UN (19.06) is comparable to the rest of the industry.
A Debt/Equity ratio of 0.77 indicates that MRG-UN is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.77, MRG-UN is doing worse than 64.71% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.77 | ||
| Debt/FCF | 19.06 | ||
| Altman-Z | 0.75 |
ROIC/WACCN/A
WACCN/A
2.3 Liquidity
MRG-UN has a Current Ratio of 0.52. 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.
MRG-UN's Current ratio of 0.52 is fine compared to the rest of the industry. MRG-UN outperforms 76.47% of its industry peers.
A Quick Ratio of 0.52 indicates that MRG-UN may have some problems paying its short term obligations.
MRG-UN has a Quick ratio of 0.52. This is in the better half of the industry: MRG-UN outperforms 76.47% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.52 | ||
| Quick Ratio | 0.52 |
3. Growth
3.1 Past
MRG-UN 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.
Looking at the last year, MRG-UN shows a small growth in Revenue. The Revenue has grown by 3.93% in the last year.
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)-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
Based on estimates for the next years, MRG-UN will show a very negative growth in Earnings Per Share. The EPS will decrease by -19.63% on average per year.
The Revenue is expected to grow by 4.27% on average over the next years.
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.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 11.15, which indicates a very decent valuation of MRG-UN.
76.47% of the companies in the same industry are more expensive than MRG-UN, based on the Price/Earnings ratio.
The average S&P500 Price/Earnings ratio is at 27.13. MRG-UN is valued rather cheaply when compared to this.
Based on the Price/Forward Earnings ratio of 13.04, the valuation of MRG-UN can be described as correct.
MRG-UN's Price/Forward Earnings ratio is rather cheap when compared to the industry. MRG-UN is cheaper than 82.35% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.76. MRG-UN is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.15 | ||
| Fwd PE | 13.04 |
4.2 Price Multiples
The rest of the industry has a similar Price/Free Cash Flow ratio as MRG-UN.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 7.17 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
The decent profitability rating of MRG-UN may justify a higher PE ratio.
MRG-UN's earnings are expected to decrease with -19.63% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)1.9
EPS Next 2Y-29.17%
EPS Next 3Y-19.63%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 4.17%, MRG-UN is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 4.64, MRG-UN has a dividend in line with its industry peers.
MRG-UN's Dividend Yield is rather good when compared to the S&P500 average which is at 2.32.
| 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 been paying a dividend for at least 10 years, so it has a reliable track record.
MRG-UN has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)2.33%
Div Incr Years3
Div Non Decr Years12
5.3 Sustainability
MRG-UN pays out 28.03% of its income as dividend. This is a sustainable payout ratio.
DP28.03%
EPS Next 2Y-29.17%
EPS Next 3Y-19.63%
TSX:MRG-UN (8/29/2025, 7:00:00 PM)
18.96
+0.44 (+2.38%)
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 Cap665.50M
Analysts80
Price Target22.7 (19.73%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.17% |
Yearly Dividend0.49
Dividend Growth(5Y)2.33%
DP28.03%
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)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 Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.15 | ||
| Fwd PE | 13.04 | ||
| P/S | 1.89 | ||
| P/FCF | 7.17 | ||
| P/OCF | 7.17 | ||
| P/B | 0.34 | ||
| P/tB | 0.34 | ||
| EV/EBITDA | N/A |
EPS(TTM)1.7
EY8.97%
EPS(NY)1.45
Fwd EY7.67%
FCF(TTM)2.65
FCFY13.95%
OCF(TTM)2.65
OCFY13.95%
SpS10.04
BVpS56.12
TBVpS56.12
PEG (NY)N/A
PEG (5Y)1.9
Profitability
| Industry Rank | Sector 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 Rank | Sector 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 | 0.75 |
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%