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

Canada - TSX:MRG-DB-B - CA61761EAC45

103.25 CAD
+0.25 (+0.24%)
Last: 9/9/2025, 7:00:00 PM
Fundamental Rating

3

Overall MRG-DB-B gets a fundamental rating of 3 out of 10. We evaluated MRG-DB-B against 15 industry peers in the Residential REITs industry. While MRG-DB-B is still in line with the averages on profitability rating, there are concerns on its financial health. MRG-DB-B does not seem to be growing, but still is valued expensively.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

In the past year MRG-DB-B was profitable.
MRG-DB-B had a positive operating cash flow in the past year.
Each year in the past 5 years MRG-DB-B has been profitable.
Each year in the past 5 years MRG-DB-B had a positive operating cash flow.
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

MRG-DB-B's Return On Assets of 2.10% is in line compared to the rest of the industry. MRG-DB-B outperforms 60.00% of its industry peers.
The Return On Equity of MRG-DB-B (4.83%) is comparable to the rest of the industry.
Looking at the Return On Invested Capital, with a value of 3.15%, MRG-DB-B is in line with its industry, outperforming 53.33% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for MRG-DB-B is in line with the industry average of 3.22%.
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

MRG-DB-B has a Profit Margin (26.97%) which is in line with its industry peers.
In the last couple of years the Profit Margin of MRG-DB-B has remained more or less at the same level.
The Operating Margin of MRG-DB-B (52.17%) is worse than 60.00% of its industry peers.
In the last couple of years the Operating Margin of MRG-DB-B has remained more or less at the same level.
The Gross Margin of MRG-DB-B (58.53%) is worse than 80.00% 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

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3

2. Health

2.1 Basic Checks

Compared to 1 year ago, MRG-DB-B has less shares outstanding
The number of shares outstanding for MRG-DB-B has been reduced compared to 5 years ago.
The debt/assets ratio for MRG-DB-B is higher compared to a year ago.
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.
The Altman-Z score of MRG-DB-B (1.44) is better than 100.00% of its industry peers.
MRG-DB-B has a debt to FCF ratio of 19.06. This is a negative value and a sign of low solvency as MRG-DB-B would need 19.06 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 19.06, MRG-DB-B is doing worse than 73.33% of the companies in the same industry.
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.
MRG-DB-B has a Debt to Equity ratio of 0.77. This is in the lower half of the industry: MRG-DB-B underperforms 66.67% of its industry peers.
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

A Current Ratio of 0.52 indicates that MRG-DB-B may have some problems paying its short term obligations.
MRG-DB-B's Current ratio of 0.52 is fine compared to the rest of the industry. MRG-DB-B outperforms 80.00% of its industry peers.
A Quick Ratio of 0.52 indicates that MRG-DB-B may have some problems paying its short term obligations.
MRG-DB-B has a Quick ratio of 0.52. This is in the better half of the industry: MRG-DB-B outperforms 80.00% 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

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2

3. Growth

3.1 Past

The earnings per share for MRG-DB-B have decreased strongly by -30.15% in the last year.
Measured over the past 5 years, MRG-DB-B shows a small growth in Earnings Per Share. The EPS has been growing by 5.88% on average per year.
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.
Based on estimates for the next years, MRG-DB-B will show a small growth in Revenue. The Revenue will grow by 4.27% on average per year.
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.
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

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0

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 60.74, the valuation of MRG-DB-B can be described as expensive.
The rest of the industry has a similar Price/Earnings ratio as MRG-DB-B.
Compared to an average S&P500 Price/Earnings ratio of 27.27, MRG-DB-B is valued quite expensively.
Based on the Price/Forward Earnings ratio of 70.99, the valuation of MRG-DB-B can be described as expensive.
Based on the Price/Forward Earnings ratio, MRG-DB-B is valued expensively inside the industry as 86.67% of the companies are valued cheaper.
MRG-DB-B is valuated expensively when we compare the Price/Forward Earnings ratio to 22.77, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 60.74
Fwd PE 70.99
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

MRG-DB-B's Price/Free Cash Flow ratio is rather expensive when compared to the industry. MRG-DB-B is more expensive than 93.33% of the companies in the same industry.
Industry RankSector Rank
P/FCF 39.03
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

MRG-DB-B'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)10.33
EPS Next 2Y-29.17%
EPS Next 3Y-19.63%

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5

5. Dividend

5.1 Amount

MRG-DB-B has a Yearly Dividend Yield of 4.17%, which is a nice return.
MRG-DB-B's Dividend Yield is a higher than the industry average which is at 4.14.
Compared to an average S&P500 Dividend Yield of 2.38, MRG-DB-B pays a better dividend.
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

MRG-DB-B 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%
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

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MORGUARD NORTH AMERICAN

TSX:MRG-DB-B (9/9/2025, 7:00:00 PM)

103.25

+0.25 (+0.24%)

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 (18.64%)
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 60.74
Fwd PE 70.99
P/S 10.28
P/FCF 39.03
P/OCF 39.03
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
FCFY2.56%
OCF(TTM)2.65
OCFY2.56%
SpS10.04
BVpS56.12
TBVpS56.12
PEG (NY)N/A
PEG (5Y)10.33
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%