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MCA

Murray Cod Australia ASX:MCA Stock Report

Last Price

AU$0.17

Market Cap

AU$130.1m

7D

-2.9%

1Y

-47.7%

Updated

25 Sep, 2022

Data

Company Financials +
MCA fundamental analysis
Snowflake Score
Valuation2/6
Future Growth2/6
Past Performance0/6
Financial Health6/6
Dividends0/6

MCA Stock Overview

Murray Cod Australia Limited, together with its subsidiaries, engages in breeding, growing, and marketing freshwater table fish in Australia.

Murray Cod Australia Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Murray Cod Australia
Historical stock prices
Current Share PriceAU$0.17
52 Week HighAU$0.41
52 Week LowAU$0.14
Beta0.21
1 Month Change-19.05%
3 Month Change-10.53%
1 Year Change-47.69%
3 Year Change3.03%
5 Year Change157.58%
Change since IPO193.10%

Recent News & Updates

Apr 28
Murray Cod Australia (ASX:MCA) May Not Be Profitable But It Seems To Be Managing Its Debt Just Fine, Anyway

Murray Cod Australia (ASX:MCA) May Not Be Profitable But It Seems To Be Managing Its Debt Just Fine, Anyway

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' When we think about how risky a company...

Shareholder Returns

MCAAU FoodAU Market
7D-2.9%-2.2%-2.7%
1Y-47.7%-14.6%-11.0%

Return vs Industry: MCA underperformed the Australian Food industry which returned -14.6% over the past year.

Return vs Market: MCA underperformed the Australian Market which returned -11% over the past year.

Price Volatility

Is MCA's price volatile compared to industry and market?
MCA volatility
MCA Average Weekly Movement11.8%
Food Industry Average Movement6.1%
Market Average Movement9.6%
10% most volatile stocks in AU Market16.9%
10% least volatile stocks in AU Market4.3%

Stable Share Price: MCA is not significantly more volatile than the rest of Australian stocks over the past 3 months, typically moving +/- 12% a week.

Volatility Over Time: MCA's weekly volatility (12%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2001n/aMatt Ryanhttps://www.aquna.com

Murray Cod Australia Limited, together with its subsidiaries, engages in breeding, growing, and marketing freshwater table fish in Australia. The company is also involved in breeding and selling Murray Cod, Golden Perch, and Silver Perch as fingerlings. In addition, it constructs and sells aquaculture equipment.

Murray Cod Australia Fundamentals Summary

How do Murray Cod Australia's earnings and revenue compare to its market cap?
MCA fundamental statistics
Market CapAU$130.09m
Earnings (TTM)-AU$8.75m
Revenue (TTM)AU$12.71m

10.2x

P/S Ratio

-14.9x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MCA income statement (TTM)
RevenueAU$12.71m
Cost of RevenueAU$8.75m
Gross ProfitAU$3.96m
Other ExpensesAU$12.71m
Earnings-AU$8.75m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-0.011
Gross Margin31.17%
Net Profit Margin-68.84%
Debt/Equity Ratio0.08%

How did MCA perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is MCA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MCA?

Other financial metrics that can be useful for relative valuation.

MCA key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue8.7x
Enterprise Value/EBITDA-12.5x
PEG Ration/a

Price to Sales Ratio vs Peers

How does MCA's PS Ratio compare to its peers?

MCA PS Ratio vs Peers
The above table shows the PS ratio for MCA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average1.8x
MBH Maggie Beer Holdings
1.4xn/aAU$103.8m
CSS Clean Seas Seafood
1.5x6.1%AU$98.5m
BFC Beston Global Food
0.3xn/aAU$48.6m
BUB Bubs Australia
4.2x27.6%AU$370.7m
MCA Murray Cod Australia
10.2x46.2%AU$130.1m

Price-To-Sales vs Peers: MCA is expensive based on its Price-To-Sales Ratio (10.2x) compared to the peer average (1.8x).


Price to Earnings Ratio vs Industry

How does MCA's PE Ratio compare vs other companies in the AU Food Industry?

Price-To-Sales vs Industry: MCA is expensive based on its Price-To-Sales Ratio (10.2x) compared to the Australian Food industry average (1.4x)


Price to Sales Ratio vs Fair Ratio

What is MCA's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MCA PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio10.2x
Fair PS Ratio5.2x

Price-To-Sales vs Fair Ratio: MCA is expensive based on its Price-To-Sales Ratio (10.2x) compared to the estimated Fair Price-To-Sales Ratio (5.2x).


Share Price vs Fair Value

What is the Fair Price of MCA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MCA (A$0.17) is trading below our estimate of fair value (A$1.62)

Significantly Below Fair Value: MCA is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is Murray Cod Australia forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


61.8%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MCA is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: MCA is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: MCA is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: MCA's revenue (46.2% per year) is forecast to grow faster than the Australian market (3.7% per year).

High Growth Revenue: MCA's revenue (46.2% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MCA is forecast to be unprofitable in 3 years.


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Past Performance

How has Murray Cod Australia performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


1.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MCA is currently unprofitable.

Growing Profit Margin: MCA is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: MCA is unprofitable, but has reduced losses over the past 5 years at a rate of 1.3% per year.

Accelerating Growth: Unable to compare MCA's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: MCA is unprofitable, making it difficult to compare its past year earnings growth to the Food industry (9%).


Return on Equity

High ROE: MCA has a negative Return on Equity (-11.45%), as it is currently unprofitable.


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Financial Health

How is Murray Cod Australia's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: MCA's short term assets (A$42.8M) exceed its short term liabilities (A$2.6M).

Long Term Liabilities: MCA's short term assets (A$42.8M) exceed its long term liabilities (A$13.0M).


Debt to Equity History and Analysis

Debt Level: MCA has more cash than its total debt.

Reducing Debt: MCA's debt to equity ratio has reduced from 8% to 0.08% over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: MCA has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: MCA has sufficient cash runway for 1.7 years if free cash flow continues to reduce at historical rates of 24.2% each year.


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Dividend

What is Murray Cod Australia current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate MCA's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate MCA's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if MCA's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MCA's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as MCA has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

6.7yrs

Average management tenure


CEO

Matt Ryan

5.75yrs

Tenure

AU$933,235

Compensation

Mr. Matthew John Ryan, also known as Matt, has been Managing Director and Executive Director of Murray Cod Australia Limited since December 16, 2016. With experience in the aquaculture and agriculture indu...


CEO Compensation Analysis

Compensation vs Market: Matt's total compensation ($USD610.80K) is above average for companies of similar size in the Australian market ($USD279.18K).

Compensation vs Earnings: Matt's compensation has increased whilst the company is unprofitable.


Leadership Team

Experienced Management: MCA's management team is seasoned and experienced (6.7 years average tenure).


Board Members

Experienced Board: MCA's board of directors are considered experienced (6.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

ASX:MCA Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
21 Jun 22BuyAU$5,769,487Credit Suisse, Investment Banking and Securities InvestmentsCompany39,203,153AU$0.15
21 Jun 22SellAU$286,833Credit Suisse, Investment Banking and Securities InvestmentsCompany1,252,048AU$0.23
14 Jan 22BuyAU$2,169,998George ComminsIndividual7,000,000AU$0.31
14 Jan 22BuyAU$168,640Clearpoint Cap Global Mkt FdCompany544,000AU$0.31
14 Jan 22SellAU$368,729George ComminsIndividual4,544,000AU$0.31
16 Nov 21BuyAU$3,349,993Ross AndersonIndividual10,000,000AU$0.33
16 Nov 21SellAU$5,024,990Matthew RyanIndividual15,000,000AU$0.33
14 Oct 21BuyAU$3,318,618Ross AndersonIndividual8,969,236AU$0.37

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 33.6%.


Top Shareholders

Top 22 shareholders own 61.11% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
14.84%
Matthew Ryan
113,571,429A$19.3m0%no data
9.33%
Timothy Poole
71,394,263A$12.1m0%no data
7.1%
George Commins
54,332,857A$9.2m0%no data
5.45%
Saville Capital Pty Ltd
41,734,574A$7.1m0%42.17%
5.24%
Credit Suisse, Investment Banking and Securities Investments
40,126,053A$6.8m0%0.01%
4.2%
Clearpoint Cap Global Mkt Fd
32,110,010A$5.5m0%no data
4.04%
Ross Anderson
30,944,885A$5.3m0%no data
2.21%
Brondlax Pty Ltd
16,886,552A$2.9m62.71%no data
1.19%
Albins Pty Ltd
9,089,552A$1.5m1%no data
1.18%
Scmg Pty Ltd
9,000,000A$1.5m99900%no data
1.05%
Martin Priestley
8,000,000A$1.4m0%no data
0.79%
Timothy Commins
6,064,515A$1.0m-39.74%no data
0.72%
Dnomyar Pty Ltd
5,500,000A$935.0k0%no data
0.54%
Cameron Townsend
4,100,000A$697.0k0%no data
0.54%
Therese Townsend
4,100,000A$697.0k0%no data
0.53%
Mary Grimish
4,035,003A$686.0k0.24%no data
0.53%
Geoffrey Grimish
4,035,003A$686.0k0.24%no data
0.52%
Jason Mimmo
3,960,380A$673.3k-0.99%no data
0.4%
Kerry Forbes
3,032,258A$515.5k0%no data
0.37%
Ian Charles
2,800,000A$476.0k-6.67%no data
0.37%
Michelle Charles
2,800,000A$476.0k-6.67%no data
0.0054%
Dimensional Fund Advisors LP
41,000A$7.0k0%no data

Company Information

Murray Cod Australia Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Murray Cod Australia Limited
  • Ticker: MCA
  • Exchange: ASX
  • Founded: 2001
  • Industry: Packaged Foods and Meats
  • Sector: Food, Beverage & Tobacco
  • Implied Market Cap: AU$130.093m
  • Shares outstanding: 765.25m
  • Website: https://www.aquna.com

Location

  • Murray Cod Australia Limited
  • 2 – 4 Lasscock Road
  • Griffith
  • New South Wales
  • 2680
  • Australia


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MCAASX (Australian Securities Exchange)YesOrdinary SharesAUAUDJan 2017
MCACHIA (Chi-X Australia)YesOrdinary SharesAUAUDJan 2017

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/25 00:00
End of Day Share Price2022/09/23 00:00
Earnings2022/06/30
Annual Earnings2022/06/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.