Mackenzie Master Limited Partnership Valuation

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

Valuation Score

4/6

Valuation Score 4/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: MKZ.UN (CA$0.51) is trading below our estimate of fair value (CA$2.05)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MKZ.UN?

Key metric: As MKZ.UN is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for MKZ.UN. This is calculated by dividing MKZ.UN's market cap by their current earnings.
What is MKZ.UN's PE Ratio?
PE Ratio	6.1x
Earnings	CA$520.79k
Market Cap	CA$3.19m

MKZ.UN 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/Revenue	3.6x
Enterprise Value/EBITDA	n/a
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does MKZ.UN's PE Ratio compare to its peers?

The above table shows the PE ratio for MKZ.UN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	20.8x
CIII.P Cuspis Capital III	45.9x	n/a	CA$4.3m
ZC Zimtu Capital	2x	n/a	CA$2.2m
BLAZ.P Trail Blazing Ventures	30.8x	n/a	CA$1.8m
SMA Standard Mercantile Acquisition	4.5x	n/a	CA$1.8m
MKZ.UN Mackenzie Master Limited Partnership	6.1x	n/a	CA$3.2m

Price-To-Earnings vs Peers: MKZ.UN is good value based on its Price-To-Earnings Ratio (6.1x) compared to the peer average (16.4x).

Price to Earnings Ratio vs Industry

How does MKZ.UN's PE Ratio compare vs other companies in the CA Capital Markets Industry?

7 Companies	Price / Earnings	Estimated Growth	Market Cap
INXD INX Digital Company	0.3x	n/a	US$12.67m
MAR.UN Marwest Apartment Real Estate Investment Trust	0.9x	n/a	US$11.02m
CSOC.A Canso Select Opportunities	2.3x	n/a	US$9.59m
PXI Planet Ventures	1.7x	n/a	US$4.47m

7 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: MKZ.UN is good value based on its Price-To-Earnings Ratio (6.1x) compared to the Canadian Capital Markets industry average (11.4x).

Price to Earnings Ratio vs Fair Ratio

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

MKZ.UN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	6.1x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate MKZ.UN's Price-To-Earnings Fair Ratio for valuation analysis.

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.

Discover undervalued companies

Berkshire Hathaway

US$1.0t

Through its subsidiaries, engages in the insurance, freight rail transportation, and utility businesses worldwide.

BRK

US$36.00

1.4%

29.2%

AGF Management

CA$697.7m

AGF Management Limited is one of Canada’s premier investment management companies with offices across Canada and subsidiaries around the world.

AGF.B

CA$10.74

-1.5%

46.9%

Vencanna Ventures

CA$2.2m

Vencanna Ventures Inc. is formerly known as The Cannavative Group LLC is a venture capital firm specializing in seed/startups and early venture.

VENI

CA$0.01

n/a