MORGUARD REAL ESTATE-TR UTS (MRT-UN.CA) Stock Fundamental Analysis
TSX:MRT-UN - Toronto Stock Exchange - CA6179141065 - REIT - Currency: CAD
MRT-UN gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 43 industry peers in the Diversified REITs industry. MRT-UN has a bad profitability rating. Also its financial health evaluation is rather negative. MRT-UN has a valuation in line with the averages, but on the other hand it scores bad on growth.
1. Profitability
1.1 Basic Checks
MRT-UN had negative earnings in the past year.
MRT-UN had a positive operating cash flow in the past year.
MRT-UN had negative earnings in 4 of the past 5 years.
In the past 5 years MRT-UN always reported a positive cash flow from operatings.
1.2 Ratios
The Return On Assets of MRT-UN (-2.71%) is comparable to the rest of the industry.
MRT-UN has a Return On Equity (-6.65%) which is comparable to the rest of the industry.
MRT-UN's Return On Invested Capital of 4.69% is fine compared to the rest of the industry. MRT-UN outperforms 74.42% of its industry peers.
The Average Return On Invested Capital over the past 3 years for MRT-UN is in line with the industry average of 5.49%.
The 3 year average ROIC (4.53%) for MRT-UN is below the current ROIC(4.69%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -2.71% | ||
| ROE | -6.65% | ||
| ROIC | 4.69% |
ROA(3y)-3.2%
ROA(5y)-4.67%
ROE(3y)-7.53%
ROE(5y)-10.61%
ROIC(3y)4.53%
ROIC(5y)4.4%
1.3 Margins
MRT-UN's Operating Margin of 48.10% is on the low side compared to the rest of the industry. MRT-UN is outperformed by 60.47% of its industry peers.
MRT-UN's Operating Margin has declined in the last couple of years.
The Gross Margin of MRT-UN (49.57%) is worse than 74.42% of its industry peers.
In the last couple of years the Gross Margin of MRT-UN has declined.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 48.1% | ||
| PM (TTM) | N/A | ||
| GM | 49.57% |
OM growth 3Y-1.47%
OM growth 5Y-1.92%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.99%
GM growth 5Y-2.03%
2. Health
2.1 Basic Checks
MRT-UN has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
Compared to 1 year ago, MRT-UN has less shares outstanding
Compared to 5 years ago, MRT-UN has more shares outstanding
The debt/assets ratio for MRT-UN is higher compared to a year ago.
2.2 Solvency
MRT-UN has an Altman-Z score of 0.43. This is a bad value and indicates that MRT-UN is not financially healthy and even has some risk of bankruptcy.
MRT-UN has a Altman-Z score of 0.43. This is in the lower half of the industry: MRT-UN underperforms 62.79% of its industry peers.
The Debt to FCF ratio of MRT-UN is 22.64, which is on the high side as it means it would take MRT-UN, 22.64 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 22.64, MRT-UN is in line with its industry, outperforming 41.86% of the companies in the same industry.
MRT-UN has a Debt/Equity ratio of 1.15. This is a high value indicating a heavy dependency on external financing.
With a Debt to Equity ratio value of 1.15, MRT-UN perfoms like the industry average, outperforming 51.16% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.15 | ||
| Debt/FCF | 22.64 | ||
| Altman-Z | 0.43 |
ROIC/WACC0.78
WACC6.03%
2.3 Liquidity
MRT-UN has a Current Ratio of 0.05. This is a bad value and indicates that MRT-UN is not financially healthy enough and could expect problems in meeting its short term obligations.
MRT-UN has a Current ratio of 0.05. This is amonst the worse of the industry: MRT-UN underperforms 93.02% of its industry peers.
MRT-UN has a Quick Ratio of 0.05. This is a bad value and indicates that MRT-UN is not financially healthy enough and could expect problems in meeting its short term obligations.
MRT-UN's Quick ratio of 0.05 is on the low side compared to the rest of the industry. MRT-UN is outperformed by 93.02% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.05 | ||
| Quick Ratio | 0.05 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 14.09% over the past year.
The Revenue has been growing slightly by 1.61% in the past year.
Measured over the past years, MRT-UN shows a decrease in Revenue. The Revenue has been decreasing by -1.04% on average per year.
EPS 1Y (TTM)14.09%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-27.29%
Revenue 1Y (TTM)1.61%
Revenue growth 3Y2.39%
Revenue growth 5Y-1.04%
Sales Q2Q%2.4%
3.2 Future
The Earnings Per Share is expected to grow by 219.37% on average over the next years. This is a very strong growth
Based on estimates for the next years, MRT-UN will show a decrease in Revenue. The Revenue will decrease by -1.23% on average per year.
EPS Next Y820%
EPS Next 2Y219.37%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-6.64%
Revenue Next 2Y-1.23%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings Ratio is negative for MRT-UN. In the last year negative earnings were reported.
A Price/Forward Earnings ratio of 7.58 indicates a rather cheap valuation of MRT-UN.
MRT-UN's Price/Forward Earnings ratio is rather cheap when compared to the industry. MRT-UN is cheaper than 95.35% of the companies in the same industry.
MRT-UN is valuated cheaply when we compare the Price/Forward Earnings ratio to 22.70, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 7.58 |
4.2 Price Multiples
MRT-UN's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. MRT-UN is cheaper than 88.37% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, MRT-UN is valued a bit cheaper than 76.74% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 6.5 | ||
| EV/EBITDA | 11.84 |
4.3 Compensation for Growth
MRT-UN's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
MRT-UN's earnings are expected to grow with 219.37% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y219.37%
EPS Next 3YN/A
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 4.49%, MRT-UN is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 8.03, MRT-UN's dividend is way lower than its industry peers. On top of this 83.72% of the companies listed in the same industry pay a better dividend than MRT-UN!
Compared to an average S&P500 Dividend Yield of 2.27, MRT-UN pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.49% |
5.2 History
The dividend of MRT-UN decreases each year by -24.29%.
MRT-UN has been paying a dividend for at least 10 years, so it has a reliable track record.
MRT-UN has decreased its dividend recently.
Dividend Growth(5Y)-24.29%
Div Incr Years0
Div Non Decr Years1
5.3 Sustainability
The earnings of MRT-UN are negative and hence is the payout ratio. MRT-UN will probably not be able to sustain this dividend level.
DP-26%
EPS Next 2Y219.37%
EPS Next 3YN/A
TSX:MRT-UN (2/21/2025, 7:00:00 PM)
5.51
+0.01 (+0.18%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners0.62%
Inst Owner ChangeN/A
Ins Owners15.29%
Ins Owner ChangeN/A
Market Cap354.24M
Analysts50
Price Target6.12 (11.07%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.49% |
Yearly Dividend0.24
Dividend Growth(5Y)-24.29%
DP-26%
Div Incr Years0
Div Non Decr Years1
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)0%
PT rev (3m)0%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-7.69%
EPS NY rev (3m)-7.69%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.44%
Revenue NY rev (3m)-0.73%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 7.58 | ||
| P/S | 1.37 | ||
| P/FCF | 6.5 | ||
| P/OCF | 6.5 | ||
| P/B | 0.4 | ||
| P/tB | 0.4 | ||
| EV/EBITDA | 11.84 |
EPS(TTM)-1
EYN/A
EPS(NY)0.73
Fwd EY13.2%
FCF(TTM)0.85
FCFY15.37%
OCF(TTM)0.85
OCFY15.37%
SpS4.03
BVpS13.75
TBVpS13.75
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -2.71% | ||
| ROE | -6.65% | ||
| ROCE | 6.89% | ||
| ROIC | 4.69% | ||
| ROICexc | 4.71% | ||
| ROICexgc | 4.71% | ||
| OM | 48.1% | ||
| PM (TTM) | N/A | ||
| GM | 49.57% | ||
| FCFM | 21.01% |
ROA(3y)-3.2%
ROA(5y)-4.67%
ROE(3y)-7.53%
ROE(5y)-10.61%
ROIC(3y)4.53%
ROIC(5y)4.4%
ROICexc(3y)4.55%
ROICexc(5y)4.42%
ROICexgc(3y)4.55%
ROICexgc(5y)4.42%
ROCE(3y)6.57%
ROCE(5y)6.31%
ROICexcg growth 3Y6.46%
ROICexcg growth 5Y4.22%
ROICexc growth 3Y6.46%
ROICexc growth 5Y4.22%
OM growth 3Y-1.47%
OM growth 5Y-1.92%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.99%
GM growth 5Y-2.03%
F-Score6
Asset Turnover0.12
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.15 | ||
| Debt/FCF | 22.64 | ||
| Debt/EBITDA | 8.18 | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 1.95 | ||
| Cash Conversion | 43.66% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.05 | ||
| Quick Ratio | 0.05 | ||
| Altman-Z | 0.43 |
F-Score6
WACC6.03%
ROIC/WACC0.78
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)14.09%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-27.29%
EPS Next Y820%
EPS Next 2Y219.37%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)1.61%
Revenue growth 3Y2.39%
Revenue growth 5Y-1.04%
Sales Q2Q%2.4%
Revenue Next Year-6.64%
Revenue Next 2Y-1.23%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y2.68%
EBIT growth 3Y0.89%
EBIT growth 5Y-2.94%
EBIT Next Year-3.48%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-17.89%
FCF growth 3Y-12.1%
FCF growth 5Y-9.44%
OCF growth 1Y-17.89%
OCF growth 3Y-12.1%
OCF growth 5Y-9.44%