MULLEN GROUP LTD (MTL.CA) Stock Fundamental Analysis

Canada • Toronto Stock Exchange • TSX:MTL • CA6252841045

17.09 CAD
-0.11 (-0.64%)
Last: Feb 5, 2026, 07:00 PM
Fundamental Rating

5

MTL gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 6 industry peers in the Ground Transportation industry. Both the profitability and the financial health of MTL get a neutral evaluation. Nothing too spectacular is happening here. MTL is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

  • MTL had positive earnings in the past year.
  • MTL had a positive operating cash flow in the past year.
  • MTL had positive earnings in each of the past 5 years.
  • Each year in the past 5 years MTL had a positive operating cash flow.
MTL.CA Yearly Net Income VS EBIT VS OCF VS FCFMTL.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 100M 200M

1.2 Ratios

  • MTL has a Return On Assets of 3.63%. This is in the lower half of the industry: MTL underperforms 66.67% of its industry peers.
  • MTL has a Return On Equity of 9.27%. This is in the lower half of the industry: MTL underperforms 66.67% of its industry peers.
  • MTL has a Return On Invested Capital (5.72%) which is comparable to the rest of the industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for MTL is in line with the industry average of 6.87%.
Industry RankSector Rank
ROA 3.63%
ROE 9.27%
ROIC 5.72%
ROA(3y)6.49%
ROA(5y)5.39%
ROE(3y)13.79%
ROE(5y)11.33%
ROIC(3y)8.41%
ROIC(5y)6.76%
MTL.CA Yearly ROA, ROE, ROICMTL.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 10 15

1.3 Margins

  • MTL has a Profit Margin (4.54%) which is comparable to the rest of the industry.
  • MTL's Profit Margin has been stable in the last couple of years.
  • With a Operating Margin value of 8.62%, MTL perfoms like the industry average, outperforming 50.00% of the companies in the same industry.
  • MTL's Operating Margin has improved in the last couple of years.
  • With a Gross Margin value of 37.78%, MTL perfoms like the industry average, outperforming 50.00% of the companies in the same industry.
  • MTL's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 8.62%
PM (TTM) 4.54%
GM 37.78%
OM growth 3Y10.27%
OM growth 5Y6.39%
PM growth 3Y4.8%
PM growth 5Y-0.01%
GM growth 3Y2.31%
GM growth 5Y-0.08%
MTL.CA Yearly Profit, Operating, Gross MarginsMTL.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 20 30

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ROAROEROICOperating and Profit MarginShow most profitable peers

5

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so MTL is destroying value.
  • Compared to 1 year ago, MTL has less shares outstanding
  • Compared to 5 years ago, MTL has less shares outstanding
  • Compared to 1 year ago, MTL has a worse debt to assets ratio.
MTL.CA Yearly Shares OutstandingMTL.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M
MTL.CA Yearly Total Debt VS Total AssetsMTL.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

  • MTL has an Altman-Z score of 1.83. This is not the best score and indicates that MTL is in the grey zone with still only limited risk for bankruptcy at the moment.
  • With a Altman-Z score value of 1.83, MTL perfoms like the industry average, outperforming 50.00% of the companies in the same industry.
  • The Debt to FCF ratio of MTL is 4.85, which is a neutral value as it means it would take MTL, 4.85 years of fcf income to pay off all of its debts.
  • With a Debt to FCF ratio value of 4.85, MTL perfoms like the industry average, outperforming 50.00% of the companies in the same industry.
  • A Debt/Equity ratio of 1.11 is on the high side and indicates that MTL has dependencies on debt financing.
  • MTL's Debt to Equity ratio of 1.11 is on the low side compared to the rest of the industry. MTL is outperformed by 83.33% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.11
Debt/FCF 4.85
Altman-Z 1.83
ROIC/WACC0.64
WACC8.93%
MTL.CA Yearly LT Debt VS Equity VS FCFMTL.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

2.3 Liquidity

  • MTL has a Current Ratio of 1.97. This is a normal value and indicates that MTL is financially healthy and should not expect problems in meeting its short term obligations.
  • The Current ratio of MTL (1.97) is better than 100.00% of its industry peers.
  • MTL has a Quick Ratio of 1.81. This is a normal value and indicates that MTL is financially healthy and should not expect problems in meeting its short term obligations.
  • MTL's Quick ratio of 1.81 is amongst the best of the industry. MTL outperforms 100.00% of its industry peers.
Industry RankSector Rank
Current Ratio 1.97
Quick Ratio 1.81
MTL.CA Yearly Current Assets VS Current LiabilitesMTL.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M 500M

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

4

3. Growth

3.1 Past

  • MTL shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -22.22%.
  • The Earnings Per Share has been growing by 12.44% on average over the past years. This is quite good.
  • Looking at the last year, MTL shows a small growth in Revenue. The Revenue has grown by 5.53% in the last year.
  • MTL shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 9.24% yearly.
EPS 1Y (TTM)-22.22%
EPS 3Y18.25%
EPS 5Y12.44%
EPS Q2Q%-12.2%
Revenue 1Y (TTM)5.53%
Revenue growth 3Y10.42%
Revenue growth 5Y9.24%
Sales Q2Q%5.6%

3.2 Future

  • MTL is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 3.07% yearly.
  • The Revenue is expected to grow by 3.27% on average over the next years.
EPS Next Y-11.9%
EPS Next 2Y0.25%
EPS Next 3Y3.97%
EPS Next 5Y3.07%
Revenue Next Year6.95%
Revenue Next 2Y5.91%
Revenue Next 3Y4.51%
Revenue Next 5Y3.27%

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.
MTL.CA Yearly Revenue VS EstimatesMTL.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 500M 1B 1.5B 2B
MTL.CA Yearly EPS VS EstimatesMTL.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 0.5 1 1.5

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6

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 16.28 indicates a correct valuation of MTL.
  • Based on the Price/Earnings ratio, MTL is valued cheaper than 83.33% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 27.67. MTL is valued slightly cheaper when compared to this.
  • With a Price/Forward Earnings ratio of 13.71, MTL is valued correctly.
  • Based on the Price/Forward Earnings ratio, MTL is valued cheaper than 83.33% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 27.20. MTL is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 16.28
Fwd PE 13.71
MTL.CA Price Earnings VS Forward Price EarningsMTL.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • 83.33% of the companies in the same industry are more expensive than MTL, based on the Enterprise Value to EBITDA ratio.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of MTL indicates a rather cheap valuation: MTL is cheaper than 83.33% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 6.1
EV/EBITDA 7.81
MTL.CA Per share dataMTL.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)1.31
EPS Next 2Y0.25%
EPS Next 3Y3.97%

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

6

5. Dividend

5.1 Amount

  • MTL has a Yearly Dividend Yield of 5.13%, which is a nice return.
  • Compared to an average industry Dividend Yield of 1.73, MTL pays a better dividend. On top of this MTL pays more dividend than 100.00% of the companies listed in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.82, MTL pays a better dividend.
Industry RankSector Rank
Dividend Yield 5.13%

5.2 History

  • The dividend of MTL has a limited annual growth rate of 4.83%.
  • MTL has paid a dividend for at least 10 years, which is a reliable track record.
  • MTL has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)4.83%
Div Incr Years4
Div Non Decr Years4
MTL.CA Yearly Dividends per shareMTL.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 0.8

5.3 Sustainability

  • 77.07% of the earnings are spent on dividend by MTL. This is not a sustainable payout ratio.
  • MTL's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP77.07%
EPS Next 2Y0.25%
EPS Next 3Y3.97%
MTL.CA Yearly Income VS Free CF VS DividendMTL.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M 100M 150M 200M
MTL.CA Dividend Payout.MTL.CA Dividend Payout, showing the Payout Ratio.MTL.CA Dividend Payout.PayoutRetained Earnings

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MULLEN GROUP LTD

TSX:MTL (2/5/2026, 7:00:00 PM)

17.09

-0.11 (-0.64%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryGround Transportation
Earnings (Last)10-22
Earnings (Next)02-12
Inst Owners23.67%
Inst Owner ChangeN/A
Ins Owners6.49%
Ins Owner ChangeN/A
Market Cap1.49B
Revenue(TTM)2.10B
Net Income(TTM)95.33M
Analysts76.92
Price Target17.34 (1.46%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.13%
Yearly Dividend0.76
Dividend Growth(5Y)4.83%
DP77.07%
Div Incr Years4
Div Non Decr Years4
Ex-Date01-30
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-9.8%
Min EPS beat(2)-16.31%
Max EPS beat(2)-3.29%
EPS beat(4)0
Avg EPS beat(4)-17.33%
Min EPS beat(4)-27.59%
Max EPS beat(4)-3.29%
EPS beat(8)2
Avg EPS beat(8)-6.5%
EPS beat(12)6
Avg EPS beat(12)8.01%
EPS beat(16)8
Avg EPS beat(16)11.91%
Revenue beat(2)1
Avg Revenue beat(2)-3.91%
Min Revenue beat(2)-9.1%
Max Revenue beat(2)1.28%
Revenue beat(4)1
Avg Revenue beat(4)-3.61%
Min Revenue beat(4)-9.1%
Max Revenue beat(4)1.28%
Revenue beat(8)2
Avg Revenue beat(8)-2.8%
Revenue beat(12)4
Avg Revenue beat(12)-1.84%
Revenue beat(16)7
Avg Revenue beat(16)-0.11%
PT rev (1m)1.19%
PT rev (3m)3.66%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)-2.02%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-5.41%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-3.25%
Valuation
Industry RankSector Rank
PE 16.28
Fwd PE 13.71
P/S 0.71
P/FCF 6.1
P/OCF 4.5
P/B 1.45
P/tB 3.92
EV/EBITDA 7.81
EPS(TTM)1.05
EY6.14%
EPS(NY)1.25
Fwd EY7.29%
FCF(TTM)2.8
FCFY16.4%
OCF(TTM)3.8
OCFY22.23%
SpS24.03
BVpS11.78
TBVpS4.35
PEG (NY)N/A
PEG (5Y)1.31
Graham Number16.68
Profitability
Industry RankSector Rank
ROA 3.63%
ROE 9.27%
ROCE 7.75%
ROIC 5.72%
ROICexc 6.13%
ROICexgc 8.72%
OM 8.62%
PM (TTM) 4.54%
GM 37.78%
FCFM 11.66%
ROA(3y)6.49%
ROA(5y)5.39%
ROE(3y)13.79%
ROE(5y)11.33%
ROIC(3y)8.41%
ROIC(5y)6.76%
ROICexc(3y)8.57%
ROICexc(5y)6.92%
ROICexgc(3y)11.66%
ROICexgc(5y)9.33%
ROCE(3y)11.65%
ROCE(5y)9.38%
ROICexgc growth 3Y15.78%
ROICexgc growth 5Y11.91%
ROICexc growth 3Y16.67%
ROICexc growth 5Y10.72%
OM growth 3Y10.27%
OM growth 5Y6.39%
PM growth 3Y4.8%
PM growth 5Y-0.01%
GM growth 3Y2.31%
GM growth 5Y-0.08%
F-Score6
Asset Turnover0.8
Health
Industry RankSector Rank
Debt/Equity 1.11
Debt/FCF 4.85
Debt/EBITDA 3.53
Cap/Depr 60.83%
Cap/Sales 4.15%
Interest Coverage 3.21
Cash Conversion 102.35%
Profit Quality 256.69%
Current Ratio 1.97
Quick Ratio 1.81
Altman-Z 1.83
F-Score6
WACC8.93%
ROIC/WACC0.64
Cap/Depr(3y)71.56%
Cap/Depr(5y)67.74%
Cap/Sales(3y)4.25%
Cap/Sales(5y)4.6%
Profit Quality(3y)147.53%
Profit Quality(5y)174.22%
High Growth Momentum
Growth
EPS 1Y (TTM)-22.22%
EPS 3Y18.25%
EPS 5Y12.44%
EPS Q2Q%-12.2%
EPS Next Y-11.9%
EPS Next 2Y0.25%
EPS Next 3Y3.97%
EPS Next 5Y3.07%
Revenue 1Y (TTM)5.53%
Revenue growth 3Y10.42%
Revenue growth 5Y9.24%
Sales Q2Q%5.6%
Revenue Next Year6.95%
Revenue Next 2Y5.91%
Revenue Next 3Y4.51%
Revenue Next 5Y3.27%
EBIT growth 1Y-10.23%
EBIT growth 3Y21.77%
EBIT growth 5Y16.22%
EBIT Next Year63.01%
EBIT Next 3Y22.56%
EBIT Next 5Y14.51%
FCF growth 1Y47.86%
FCF growth 3Y20.06%
FCF growth 5Y18.7%
OCF growth 1Y21.9%
OCF growth 3Y14.36%
OCF growth 5Y11.65%

MULLEN GROUP LTD / MTL.CA FAQ

What is the fundamental rating for MTL stock?

ChartMill assigns a fundamental rating of 5 / 10 to MTL.CA.


What is the valuation status for MTL stock?

ChartMill assigns a valuation rating of 6 / 10 to MULLEN GROUP LTD (MTL.CA). This can be considered as Fairly Valued.


Can you provide the profitability details for MULLEN GROUP LTD?

MULLEN GROUP LTD (MTL.CA) has a profitability rating of 4 / 10.


What are the PE and PB ratios of MULLEN GROUP LTD (MTL.CA) stock?

The Price/Earnings (PE) ratio for MULLEN GROUP LTD (MTL.CA) is 16.28 and the Price/Book (PB) ratio is 1.45.


How sustainable is the dividend of MULLEN GROUP LTD (MTL.CA) stock?

The dividend rating of MULLEN GROUP LTD (MTL.CA) is 6 / 10 and the dividend payout ratio is 77.07%.