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Maple Leaf Foods TSX:MFI Stock Report

Last Price


Market Cap







26 Jun, 2022


Company Financials +
MFI fundamental analysis
Snowflake Score
Future Growth3/6
Past Performance1/6
Financial Health2/6

MFI Stock Overview

Maple Leaf Foods Inc. produces food products in the United States, Canada, Japan, China, and internationally.

Maple Leaf Foods Competitors













Price History & Performance

Summary of all time highs, changes and price drops for Maple Leaf Foods
Historical stock prices
Current Share PriceCA$25.72
52 Week HighCA$32.60
52 Week LowCA$24.30
1 Month Change-6.47%
3 Month Change-12.16%
1 Year Change-1.08%
3 Year Change-10.32%
5 Year Change-21.44%
Change since IPO337.79%

Recent News & Updates

Shareholder Returns

MFICA FoodCA Market

Return vs Industry: MFI exceeded the Canadian Food industry which returned -23.2% over the past year.

Return vs Market: MFI exceeded the Canadian Market which returned -4.1% over the past year.

Price Volatility

Is MFI's price volatile compared to industry and market?
MFI volatility
MFI Average Weekly Movement3.7%
Food Industry Average Movement10.3%
Market Average Movement10.0%
10% most volatile stocks in CA Market17.3%
10% least volatile stocks in CA Market4.4%

Stable Share Price: MFI is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: MFI's weekly volatility (4%) has been stable over the past year.

About the Company

n/a13,500Michael McCain

Maple Leaf Foods Inc. produces food products in the United States, Canada, Japan, China, and internationally. It produces various food products, including prepared meats, ready-to-cook and ready-to-serve meals, snacks kits, fresh pork and poultry, and plant protein products. The company offers its products under various brands, including Maple Leaf, Schneiders, Greenfield Natural Meat Co., Swift, Prime, Maple Leaf Natural Selections, Mina, Big Stick, Cappola, Deli Express, Field Roast Grain Meat Co., Holiday, Hygrade, Larsen, Lightlife, Lunch Mate, Main Street Deli, Maple Leaf Foodservice, Mitchell’s, Olympic Craft Meats, Parma, Shopsy’s, Sunrise, and Swift.

Maple Leaf Foods Fundamentals Summary

How do Maple Leaf Foods's earnings and revenue compare to its market cap?
MFI fundamental statistics
Market CapCA$3.19b
Earnings (TTM)CA$68.82m
Revenue (TTM)CA$4.59b


P/E Ratio


P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MFI income statement (TTM)
Cost of RevenueCA$3.97b
Gross ProfitCA$619.98m
Other ExpensesCA$551.17m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date


Earnings per share (EPS)0.55
Gross Margin13.49%
Net Profit Margin1.50%
Debt/Equity Ratio65.0%

How did MFI perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio
We’ve recently updated our valuation analysis.


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

Valuation Score


Valuation Score 4/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

MFI 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/Revenue1x
Enterprise Value/EBITDA16.2x
PEG Ratio0.7x

Price to Earnings Ratio vs Peers

How does MFI's PE Ratio compare to its peers?

MFI PE Ratio vs Peers
The above table shows the PE ratio for MFI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average24.8x

Price-To-Earnings vs Peers: MFI is expensive based on its Price-To-Earnings Ratio (46.4x) compared to the peer average (24.8x).

Price to Earnings Ratio vs Industry

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

Price-To-Earnings vs Industry: MFI is expensive based on its Price-To-Earnings Ratio (46.4x) compared to the Canadian Food industry average (13.2x)

Price to Earnings Ratio vs Fair Ratio

What is MFI'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.

MFI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio46.4x
Fair PE Ratio57.9x

Price-To-Earnings vs Fair Ratio: MFI is good value based on its Price-To-Earnings Ratio (46.4x) compared to the estimated Fair Price-To-Earnings Ratio (57.9x).

Share Price vs Fair Value

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

Below Fair Value: MFI (CA$25.72) is trading below our estimate of fair value (CA$103.97)

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

Price to Earnings Growth Ratio

PEG Ratio: MFI is good value based on its PEG Ratio (0.7x)

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Future Growth

How is Maple Leaf Foods forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

Future Growth Score


Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: MFI's forecast earnings growth (68% per year) is above the savings rate (1.6%).

Earnings vs Market: MFI's earnings (68% per year) are forecast to grow faster than the Canadian market (8.3% per year).

High Growth Earnings: MFI's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: MFI's revenue (4.1% per year) is forecast to grow slower than the Canadian market (7.3% per year).

High Growth Revenue: MFI's revenue (4.1% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if MFI's Return on Equity is forecast to be high in 3 years time

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Past Performance

How has Maple Leaf Foods performed over the past 5 years?

Past Performance Score


Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MFI has high quality earnings.

Growing Profit Margin: MFI's current net profit margins (1.5%) are lower than last year (3.8%).

Past Earnings Growth Analysis

Earnings Trend: MFI's earnings have declined by 12.8% per year over the past 5 years.

Accelerating Growth: MFI's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: MFI had negative earnings growth (-58.2%) over the past year, making it difficult to compare to the Food industry average (-10.3%).

Return on Equity

High ROE: MFI's Return on Equity (3.3%) is considered low.

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Financial Health

How is Maple Leaf Foods's financial position?

Financial Health Score


Financial Health Score 2/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: MFI's short term assets (CA$1.0B) exceed its short term liabilities (CA$663.6M).

Long Term Liabilities: MFI's short term assets (CA$1.0B) do not cover its long term liabilities (CA$1.8B).

Debt to Equity History and Analysis

Debt Level: MFI's net debt to equity ratio (61.8%) is considered high.

Reducing Debt: MFI's debt to equity ratio has increased from 0.5% to 65% over the past 5 years.

Debt Coverage: MFI's debt is not well covered by operating cash flow (18.4%).

Interest Coverage: MFI's interest payments on its debt are well covered by EBIT (6.4x coverage).

Balance Sheet

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What is Maple Leaf Foods's current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: MFI's dividend (3.11%) is higher than the bottom 25% of dividend payers in the Canadian market (2.03%).

High Dividend: MFI's dividend (3.11%) is low compared to the top 25% of dividend payers in the Canadian market (5.33%).

Stability and Growth of Payments

Stable Dividend: MFI's dividends per share have been stable in the past 10 years.

Growing Dividend: MFI's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (133%), MFI's dividend payments are not well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: MFI is paying a dividend but the company has no free cash flows.

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


Average management tenure


Michael McCain (62 yo)





Mr. Michael H. McCain, O.C., B.B.A., serves as Executive Chairman of the Board of Maple Leaf Foods Inc. since May 2022. He has been the Chief Executive Officer of Maple Leaf Foods Inc., since January 1, 19...

CEO Compensation Analysis

Compensation vs Market: Michael's total compensation ($USD5.37M) is above average for companies of similar size in the Canadian market ($USD3.50M).

Compensation vs Earnings: Michael's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: MFI's management team is considered experienced (3.5 years average tenure).

Board Members

Experienced Board: MFI's board of directors are considered experienced (6.6 years average tenure).


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

Insider Trading Volume

Insider Buying: MFI insiders have only sold shares in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

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

Top Shareholders

Company Information

Maple Leaf Foods Inc.'s employee growth, exchange listings and data sources

Key Information

  • Name: Maple Leaf Foods Inc.
  • Ticker: MFI
  • Exchange: TSX
  • Founded: NaN
  • Industry: Packaged Foods and Meats
  • Sector: Food, Beverage & Tobacco
  • Implied Market Cap: CA$3.190b
  • Shares outstanding: 124.04m
  • Website:

Number of Employees


  • Maple Leaf Foods Inc.
  • 6985 Financial Drive
  • Mississauga
  • Ontario
  • L5N 0A1
  • Canada


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/26 00:00
End of Day Share Price2022/06/24 00:00
Annual Earnings2021/12/31

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.