MORGUARD NORTH AMERICAN RESI (MRG-UN.CA) Fundamental Analysis & Valuation

TSX:MRG-UN • CA61761E1007

18.06 CAD
-0.49 (-2.64%)
Last: Mar 6, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership News

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

Fundamental Rating

5

MRG-UN gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 16 industry peers in the Residential REITs industry. There are concerns on the financial health of MRG-UN while its profitability can be described as average. 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.


Dividend Valuation Growth Profitability Health

6

1. MRG-UN.CA Profitability Analysis

1.1 Basic Checks

  • In the past year MRG-UN was profitable.
  • MRG-UN had a positive operating cash flow in the past year.
  • Each year in the past 5 years MRG-UN has been profitable.
  • MRG-UN had a positive operating cash flow in each of the past 5 years.
MRG-UN.CA Yearly Net Income VS EBIT VS OCF VS FCFMRG-UN.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 2025 50M 100M 150M 200M

1.2 Ratios

  • The Return On Assets of MRG-UN (2.69%) is better than 75.00% of its industry peers.
  • MRG-UN has a Return On Equity of 6.20%. This is in the better half of the industry: MRG-UN outperforms 75.00% of its industry peers.
  • The Return On Invested Capital of MRG-UN (3.06%) is better than 75.00% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for MRG-UN is in line with the industry average of 2.96%.
Industry RankSector Rank
ROA 2.69%
ROE 6.2%
ROIC 3.06%
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-UN.CA Yearly ROA, ROE, ROICMRG-UN.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15

1.3 Margins

  • Looking at the Profit Margin, with a value of 34.91%, MRG-UN is in the better half of the industry, outperforming 75.00% of the companies in the same industry.
  • MRG-UN's Profit Margin has been stable in the last couple of years.
  • The Operating Margin of MRG-UN (52.49%) is comparable to the rest of the industry.
  • In the last couple of years the Operating Margin of MRG-UN has remained more or less at the same level.
  • With a Gross Margin value of 58.88%, MRG-UN is not doing good in the industry: 68.75% of the companies in the same industry are doing better.
  • MRG-UN's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 52.49%
PM (TTM) 34.91%
GM 58.88%
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-UN.CA Yearly Profit, Operating, Gross MarginsMRG-UN.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60 80

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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. MRG-UN.CA Health Analysis

2.1 Basic Checks

  • Compared to 1 year ago, MRG-UN has less shares outstanding
  • Compared to 5 years ago, MRG-UN has less shares outstanding
  • The debt/assets ratio for MRG-UN has been reduced compared to a year ago.
MRG-UN.CA Yearly Shares OutstandingMRG-UN.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10M 20M 30M 40M 50M
MRG-UN.CA Yearly Total Debt VS Total AssetsMRG-UN.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B

2.2 Solvency

  • Based on the Altman-Z score of 0.77, we must say that MRG-UN is in the distress zone and has some risk of bankruptcy.
  • The Altman-Z score of MRG-UN (0.77) is better than 62.50% of its industry peers.
  • MRG-UN has a debt to FCF ratio of 18.60. This is a negative value and a sign of low solvency as MRG-UN would need 18.60 years to pay back of all of its debts.
  • With a Debt to FCF ratio value of 18.60, MRG-UN is not doing good in the industry: 68.75% of the companies in the same industry are doing better.
  • MRG-UN has a Debt/Equity ratio of 0.83. This is a neutral value indicating MRG-UN is somewhat dependend on debt financing.
  • With a Debt to Equity ratio value of 0.83, MRG-UN is not doing good in the industry: 68.75% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 0.83
Debt/FCF 18.6
Altman-Z 0.77
ROIC/WACCN/A
WACCN/A
MRG-UN.CA Yearly LT Debt VS Equity VS FCFMRG-UN.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B

2.3 Liquidity

  • MRG-UN has a Current Ratio of 0.82. 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.
  • With an excellent Current ratio value of 0.82, MRG-UN belongs to the best of the industry, outperforming 87.50% of the companies in the same industry.
  • MRG-UN has a Quick Ratio of 0.82. 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 Quick ratio of 0.82 is amongst the best of the industry. MRG-UN outperforms 87.50% of its industry peers.
Industry RankSector Rank
Current Ratio 0.82
Quick Ratio 0.82
MRG-UN.CA Yearly Current Assets VS Current LiabilitesMRG-UN.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M 250M

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

3

3. MRG-UN.CA Growth Analysis

3.1 Past

  • MRG-UN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 64.99%, which is quite impressive.
  • 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 3.83% in the last year.
  • The Revenue has been growing slightly by 6.98% on average over the past years.
EPS 1Y (TTM)64.99%
EPS 3Y-23.43%
EPS 5Y5.88%
EPS Q2Q%137.49%
Revenue 1Y (TTM)3.83%
Revenue growth 3Y11.91%
Revenue growth 5Y6.98%
Sales Q2Q%2.19%

3.2 Future

  • MRG-UN is expected to show a very negative growth in Earnings Per Share. In the coming years, the EPS will decrease by -14.40% yearly.
  • The Revenue is expected to grow by 2.73% on average over the next years.
EPS Next Y-19.16%
EPS Next 2Y-22.59%
EPS Next 3Y-14.4%
EPS Next 5YN/A
Revenue Next Year3.7%
Revenue Next 2Y2.65%
Revenue Next 3Y2.73%
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
MRG-UN.CA Yearly Revenue VS EstimatesMRG-UN.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 100M 200M 300M
MRG-UN.CA Yearly EPS VS EstimatesMRG-UN.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2 4 6

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6

4. MRG-UN.CA Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 8.10, the valuation of MRG-UN can be described as reasonable.
  • Based on the Price/Earnings ratio, MRG-UN is valued cheaper than 81.25% of the companies in the same industry.
  • MRG-UN's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 26.29.
  • With a Price/Forward Earnings ratio of 10.40, the valuation of MRG-UN can be described as very reasonable.
  • Based on the Price/Forward Earnings ratio, MRG-UN is valued cheaply inside the industry as 87.50% of the companies are valued more expensively.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 24.57, MRG-UN is valued rather cheaply.
Industry RankSector Rank
PE 8.1
Fwd PE 10.4
MRG-UN.CA Price Earnings VS Forward Price EarningsMRG-UN.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Based on the Price/Free Cash Flow ratio, MRG-UN is valued a bit cheaper than 62.50% of the companies in the same industry.
Industry RankSector Rank
P/FCF 6.54
EV/EBITDA N/A
MRG-UN.CA Per share dataMRG-UN.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40 50

4.3 Compensation for Growth

  • MRG-UN has a very decent profitability rating, which may justify a higher PE ratio.
  • A cheap valuation may be justified as MRG-UN's earnings are expected to decrease with -14.40% in the coming years.
PEG (NY)N/A
PEG (5Y)1.38
EPS Next 2Y-22.59%
EPS Next 3Y-14.4%

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

7

5. MRG-UN.CA Dividend Analysis

5.1 Amount

  • MRG-UN has a Yearly Dividend Yield of 4.17%, which is a nice return.
  • Compared to an average industry Dividend Yield of 4.86, MRG-UN has a dividend in line with its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.82, MRG-UN pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.17%

5.2 History

  • The dividend of MRG-UN has a limited annual growth rate of 0.98%.
  • 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)0.98%
Div Incr Years3
Div Non Decr Years12
MRG-UN.CA Yearly Dividends per shareMRG-UN.CA Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.2 0.4 0.6

5.3 Sustainability

  • MRG-UN pays out 21.37% of its income as dividend. This is a sustainable payout ratio.
DP21.37%
EPS Next 2Y-22.59%
EPS Next 3Y-14.4%
MRG-UN.CA Yearly Income VS Free CF VS DividendMRG-UN.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M
MRG-UN.CA Dividend Payout.MRG-UN.CA Dividend Payout, showing the Payout Ratio.MRG-UN.CA Dividend Payout.PayoutRetained Earnings

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MRG-UN.CA Fundamentals: All Metrics, Ratios and Statistics

MORGUARD NORTH AMERICAN RESI

TSX:MRG-UN (3/6/2026, 7:00:00 PM)

18.06

-0.49 (-2.64%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryResidential REITs
Earnings (Last)02-10
Earnings (Next)04-27
Inst Owners3.94%
Inst Owner ChangeN/A
Ins Owners4.54%
Ins Owner ChangeN/A
Market Cap630.84M
Revenue(TTM)354.36M
Net Income(TTM)123.69M
Analysts77.5
Price Target22.7 (25.69%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.17%
Yearly Dividend0.5
Dividend Growth(5Y)0.98%
DP21.37%
Div Incr Years3
Div Non Decr Years12
Ex-Date02-27
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)1.14%
PT rev (3m)1.14%
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)-1.15%
Valuation
Industry RankSector Rank
PE 8.1
Fwd PE 10.4
P/S 1.78
P/FCF 6.54
P/OCF 6.54
P/B 0.32
P/tB 0.32
EV/EBITDA N/A
EPS(TTM)2.23
EY12.35%
EPS(NY)1.74
Fwd EY9.62%
FCF(TTM)2.76
FCFY15.28%
OCF(TTM)2.76
OCFY15.28%
SpS10.14
BVpS57.08
TBVpS57.08
PEG (NY)N/A
PEG (5Y)1.38
Graham Number53.52
Profitability
Industry RankSector Rank
ROA 2.69%
ROE 6.2%
ROCE 4.25%
ROIC 3.06%
ROICexc 3.12%
ROICexgc 3.12%
OM 52.49%
PM (TTM) 34.91%
GM 58.88%
FCFM 27.2%
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%
ROICexgc growth 3Y3.05%
ROICexgc 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 0.83
Debt/FCF 18.6
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 2.64
Cash Conversion N/A
Profit Quality 77.94%
Current Ratio 0.82
Quick Ratio 0.82
Altman-Z 0.77
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)64.99%
EPS 3Y-23.43%
EPS 5Y5.88%
EPS Q2Q%137.49%
EPS Next Y-19.16%
EPS Next 2Y-22.59%
EPS Next 3Y-14.4%
EPS Next 5YN/A
Revenue 1Y (TTM)3.83%
Revenue growth 3Y11.91%
Revenue growth 5Y6.98%
Sales Q2Q%2.19%
Revenue Next Year3.7%
Revenue Next 2Y2.65%
Revenue Next 3Y2.73%
Revenue Next 5YN/A
EBIT growth 1Y2.04%
EBIT growth 3Y11.9%
EBIT growth 5Y6.42%
EBIT Next Year-7.73%
EBIT Next 3Y-1.31%
EBIT Next 5YN/A
FCF growth 1Y19.62%
FCF growth 3Y15.25%
FCF growth 5Y11.94%
OCF growth 1Y19.62%
OCF growth 3Y15.25%
OCF growth 5Y9.31%

MORGUARD NORTH AMERICAN RESI / MRG-UN.CA FAQ

What is the ChartMill fundamental rating of MORGUARD NORTH AMERICAN RESI (MRG-UN.CA) stock?

ChartMill assigns a fundamental rating of 5 / 10 to MRG-UN.CA.


Can you provide the valuation status for MORGUARD NORTH AMERICAN RESI?

ChartMill assigns a valuation rating of 6 / 10 to MORGUARD NORTH AMERICAN RESI (MRG-UN.CA). This can be considered as Fairly Valued.


What is the profitability of MRG-UN stock?

MORGUARD NORTH AMERICAN RESI (MRG-UN.CA) has a profitability rating of 6 / 10.


What is the valuation of MORGUARD NORTH AMERICAN RESI based on its PE and PB ratios?

The Price/Earnings (PE) ratio for MORGUARD NORTH AMERICAN RESI (MRG-UN.CA) is 8.1 and the Price/Book (PB) ratio is 0.32.


Can you provide the financial health for MRG-UN stock?

The financial health rating of MORGUARD NORTH AMERICAN RESI (MRG-UN.CA) is 3 / 10.