Macro Enterprises (TSXV:MCR) - Share price, News & Analysis

MCR fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	0/6
Past Performance	0/6
Financial Health	5/6
Dividends	0/6

MCR Stock Overview

Macro Enterprises Inc. provides pipeline and facilities construction and maintenance services to the oil and gas industry in western Canada.

Rewards

Trading at 29.4% below our estimate of its fair value

Risk Analysis

Does not have a meaningful market cap (CA$127M)

Macro Enterprises Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Macro Enterprises
Historical stock prices
Current Share Price	CA$4.00
52 Week High	CA$4.00
52 Week Low	CA$2.29
Beta	1.48
1 Month Change	0%
3 Month Change	2.04%
1 Year Change	68.07%
3 Year Change	-2.44%
5 Year Change	95.12%
Change since IPO	150.00%

Shareholder Returns

	MCR	CA Energy Services	CA Market
7D	0%	4.0%	0.8%
1Y	68.1%	46.4%	4.9%

Return vs Industry: MCR exceeded the Canadian Energy Services industry which returned 46.4% over the past year.

Return vs Market: MCR exceeded the Canadian Market which returned 4.9% over the past year.

Price Volatility

Is MCR's price volatile compared to industry and market?
MCR volatility
MCR Average Weekly Movement	0.7%
Energy Services Industry Average Movement	8.4%
Market Average Movement	9.9%
10% most volatile stocks in CA Market	16.9%
10% least volatile stocks in CA Market	4.3%

Stable Share Price: MCR is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 1% a week.

Volatility Over Time: MCR's weekly volatility has decreased from 6% to 1% over the past year.

About the Company

Founded	Employees	CEO	Website
1994	n/a	Frank Miles	https://www.macroindustries.ca

Macro Enterprises Inc. provides pipeline and facilities construction and maintenance services to the oil and gas industry in western Canada. It offers construction, alteration, repair, and installation of pipeline and facility pressure piping, and structural steel facilities. The company was founded in 1994 and is headquartered in Fort Saint John, Canada.

Macro Enterprises Fundamentals Summary

How do Macro Enterprises's earnings and revenue compare to its market cap?
MCR fundamental statistics
Market Cap	CA$127.23m
Earnings (TTM)	-CA$3.16m
Revenue (TTM)	CA$349.20m

0.4x

P/S Ratio

-40.3x

P/E Ratio

Is MCR overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
MCR income statement (TTM)
Revenue	CA$349.20m
Cost of Revenue	CA$299.23m
Gross Profit	CA$49.97m
Other Expenses	CA$53.13m
Earnings	-CA$3.16m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)	-0.099
Gross Margin	14.31%
Net Profit Margin	-0.90%
Debt/Equity Ratio	18.7%

How did MCR perform over the long term?

See historical performance and comparison

Valuation

Is Macro Enterprises undervalued compared to its fair value and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

29.4%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: MCR (CA$4) is trading below our estimate of fair value (CA$5.67)

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

Price To Earnings Ratio

PE vs Industry: MCR is unprofitable, so we can't compare its PE Ratio to the Canadian Energy Services industry average.

PE vs Market: MCR is unprofitable, so we can't compare its PE Ratio to the Canadian market.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate MCR's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: MCR's PB Ratio (1.1x) is in line with the CA Energy Services industry average.

Future Growth

How is Macro Enterprises forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

60.0%

Forecasted Energy industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Macro Enterprises has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Past Performance

How has Macro Enterprises 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

22.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MCR is currently unprofitable.

Growing Profit Margin: MCR is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: MCR is unprofitable, but has reduced losses over the past 5 years at a rate of 22.5% per year.

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

Earnings vs Industry: MCR is unprofitable, making it difficult to compare its past year earnings growth to the Energy Services industry (-8%).

Return on Equity

High ROE: MCR has a negative Return on Equity (-2.63%), as it is currently unprofitable.

Financial Health

How is Macro Enterprises's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: MCR's short term assets (CA$132.2M) exceed its short term liabilities (CA$81.9M).

Long Term Liabilities: MCR's short term assets (CA$132.2M) exceed its long term liabilities (CA$33.5M).

Debt to Equity History and Analysis

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

Reducing Debt: MCR's debt to equity ratio has increased from 6.2% to 18.7% over the past 5 years.

Debt Coverage: MCR's debt is well covered by operating cash flow (138.3%).

Interest Coverage: MCR's interest payments on its debt are well covered by EBIT (8.1x coverage).

Balance Sheet

Dividend

What is Macro Enterprises's 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
Future Dividend Coverage

Dividend Yield vs Market

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

High Dividend: Unable to evaluate MCR'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 MCR's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MCR'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 MCR has not reported any payouts.

Discover strong dividend paying companies

Management

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

15.3yrs

Average management tenure

CEO

Frank Miles

16.33yrs

Tenure

CA$1,618,285

Compensation

Mr. Frank Dorsey Miles has been Chief Executive Officer of Macro Enterprises Inc. (also known as Macro Industries Inc.) since September 30, 2008 and also served as its President. Mr. Miles serves as Chief...

CEO Compensation Analysis

Compensation vs Market: Frank's total compensation ($USD1.26M) is above average for companies of similar size in the Canadian market ($USD168.65K).

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

Leadership Team

Experienced Management: MCR's management team is seasoned and experienced (15.3 years average tenure).

Board Members

Experienced Board: MCR's board of directors are seasoned and experienced ( 16.3 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

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/05/22 00:00
End of Day Share Price	2022/04/22 00:00
Earnings	2021/09/30
Annual Earnings	2020/12/31