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Maple Leaf Foods

TSX:MFI
Snowflake Description

Flawless balance sheet second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MFI
TSX
CA$4B
Market Cap
  1. Home
  2. CA
  3. Food, Beverage & Tobacco
Company description

Maple Leaf Foods Inc. operates as a consumer protein company. The last earnings update was 74 days ago. More info.


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MFI Share Price and Events
7 Day Returns
1.5%
TSX:MFI
-0.8%
CA Food
-0.4%
CA Market
1 Year Returns
-13.9%
TSX:MFI
-14%
CA Food
-3.1%
CA Market
MFI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Maple Leaf Foods (MFI) 1.5% -5.6% -5% -13.9% 1.3% 45.1%
CA Food -0.8% -2% -7.6% -14% 1.9% 23.5%
CA Market -0.4% 0.8% -1.7% -3.1% 8.2% 0.9%
1 Year Return vs Industry and Market
  • MFI matched the Food industry (-14%) over the past year.
  • MFI underperformed the Market in Canada which returned -3.1% over the past year.
Price Volatility
MFI
Industry
5yr Volatility vs Market

MFI Value

 Is Maple Leaf Foods undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Maple Leaf Foods to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Maple Leaf Foods.

TSX:MFI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.7%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:MFI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Food Unlevered Beta Simply Wall St/ S&P Global 0.56
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.565 (1 + (1- 26.5%) (19.64%))
0.763
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (0.8 * 5.96%)
6.72%

Discounted Cash Flow Calculation for TSX:MFI using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Maple Leaf Foods is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

TSX:MFI DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 6.72%)
2020 -246.16 Analyst x3 -230.67
2021 217.05 Analyst x2 190.59
2022 382.00 Analyst x1 314.33
2023 531.59 Est @ 39.16% 409.90
2024 680.41 Est @ 28% 491.63
2025 817.72 Est @ 20.18% 553.67
2026 938.01 Est @ 14.71% 595.16
2027 1,040.08 Est @ 10.88% 618.39
2028 1,125.38 Est @ 8.2% 627.01
2029 1,196.56 Est @ 6.32% 624.71
Present value of next 10 years cash flows CA$4,194.73
TSX:MFI DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CA$1,196.56 × (1 + 1.95%) ÷ (6.72% – 1.95%)
CA$25,584.33
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$25,584.33 ÷ (1 + 6.72%)10
CA$13,357.32
TSX:MFI Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$4,194.73 + CA$13,357.32
CA$17,552.05
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$17,552.05 / 123.51
CA$142.11
TSX:MFI Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$142.11
Current discount Discount to share price of CA$29.45
= -1 x (CA$29.45 - CA$142.11) / CA$142.11
79.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Maple Leaf Foods is available for.
Intrinsic value
>50%
Share price is CA$29.45 vs Future cash flow value of CA$142.11
Current Discount Checks
For Maple Leaf Foods to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Maple Leaf Foods's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Maple Leaf Foods's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Maple Leaf Foods's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Maple Leaf Foods's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:MFI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in CAD CA$0.99
TSX:MFI Share Price ** TSX (2019-07-15) in CAD CA$29.45
Canada Food Industry PE Ratio Median Figure of 12 Publicly-Listed Food Companies 20.79x
Canada Market PE Ratio Median Figure of 539 Publicly-Listed Companies 15x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Maple Leaf Foods.

TSX:MFI PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:MFI Share Price ÷ EPS (both in CAD)

= 29.45 ÷ 0.99

29.64x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Maple Leaf Foods is overvalued based on earnings compared to the CA Food industry average.
  • Maple Leaf Foods is overvalued based on earnings compared to the Canada market.
Price based on expected Growth
Does Maple Leaf Foods's expected growth come at a high price?
Raw Data
TSX:MFI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 29.64x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
Not available
Canada Food Industry PEG Ratio Median Figure of 5 Publicly-Listed Food Companies 1.11x
Canada Market PEG Ratio Median Figure of 249 Publicly-Listed Companies 1.16x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Maple Leaf Foods, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Maple Leaf Foods's assets?
Raw Data
TSX:MFI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in CAD CA$16.33
TSX:MFI Share Price * TSX (2019-07-15) in CAD CA$29.45
Canada Food Industry PB Ratio Median Figure of 26 Publicly-Listed Food Companies 1.79x
Canada Market PB Ratio Median Figure of 2,436 Publicly-Listed Companies 1.42x
TSX:MFI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:MFI Share Price ÷ Book Value per Share (both in CAD)

= 29.45 ÷ 16.33

1.8x

* Primary Listing of Maple Leaf Foods.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Maple Leaf Foods is overvalued based on assets compared to the CA Food industry average.
X
Value checks
We assess Maple Leaf Foods's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Food industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Food industry average (and greater than 0)? (1 check)
  5. Maple Leaf Foods has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

MFI Future Performance

 How is Maple Leaf Foods expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-3.5%
Expected annual growth in earnings per share.
Earnings growth vs Low Risk Savings
Is Maple Leaf Foods expected to grow at an attractive rate?
  • Maple Leaf Foods's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.9%.
Growth vs Market Checks
  • Maple Leaf Foods's earnings are expected to decrease over the next 1-3 years, this is below the Canada market average.
  • Maple Leaf Foods's revenue growth is positive but not above the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:MFI Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:MFI Future Earnings per Share Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts -3.5%
TSX:MFI Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 4.4%
Canada Food Industry Earnings Growth Rate Market Cap Weighted Average 11.7%
Canada Food Industry Revenue Growth Rate Market Cap Weighted Average 7.2%
Canada Market Earnings Growth Rate Market Cap Weighted Average 14%
Canada Market Revenue Growth Rate Market Cap Weighted Average 5.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:MFI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:MFI Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31 3,924 357 5
2019-12-31 3,783 352 6
TSX:MFI Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-03-31 3,585 286 124
2018-12-31 3,496 300 101
2018-09-30 3,478 296 148
2018-06-30 3,512 392 159
2018-03-31 3,529 364 162
2017-12-31 3,522 387 164
2017-09-30 3,474 355 181
2017-06-30 3,417 345 175
2017-03-31 3,346 367 170
2016-12-31 3,332 357 182
2016-09-30 3,377 362 139
2016-06-30 3,343 228 126

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Maple Leaf Foods's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Maple Leaf Foods's revenue is expected to grow by 4.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:MFI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Maple Leaf Foods Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:MFI Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31 1.17 1.17 1.17 1.00
2019-12-31 1.33 1.33 1.33 1.00
TSX:MFI Past Financials Data
Date (Data in CAD Millions) EPS *
2019-03-31 0.99
2018-12-31 0.81
2018-09-30 1.18
2018-06-30 1.26
2018-03-31 1.27
2017-12-31 1.28
2017-09-30 1.39
2017-06-30 1.33
2017-03-31 1.27
2016-12-31 1.35
2016-09-30 1.03
2016-06-30 0.92

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Maple Leaf Foods will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Maple Leaf Foods's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Maple Leaf Foods has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

MFI Past Performance

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

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Maple Leaf Foods's growth in the last year to its industry (Food).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Maple Leaf Foods has delivered over 20% year on year earnings growth in the past 5 years.
  • Maple Leaf Foods's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Maple Leaf Foods's 1-year earnings growth is negative, it can't be compared to the CA Food industry average.
Earnings and Revenue History
Maple Leaf Foods's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Maple Leaf Foods Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:MFI Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 3,585.10 123.53 353.56
2018-12-31 3,495.52 101.35 341.49
2018-09-30 3,478.39 148.46 344.92
2018-06-30 3,511.92 159.49 354.09
2018-03-31 3,528.55 161.90 353.61
2017-12-31 3,522.23 164.09 348.62
2017-09-30 3,473.60 181.25 345.92
2017-06-30 3,417.34 175.50 338.02
2017-03-31 3,346.11 169.54 328.73
2016-12-31 3,331.81 181.70 324.82
2016-09-30 3,376.76 138.76 299.00
2016-06-30 3,343.44 125.62 289.29
2016-03-31 3,309.57 86.71 290.29
2015-12-31 3,292.93 41.58 288.06
2015-09-30 3,213.82 -14.70 276.99
2015-06-30 3,215.13 -60.05 282.24
2015-03-31 3,226.14 -93.13 281.54
2014-12-31 3,157.24 -215.79 289.15
2014-09-30 3,111.55 -251.37 312.76
2014-06-30 3,049.30 -251.73 312.22
2014-03-31 2,976.77 -251.96 308.47
2013-12-31 2,954.78 -157.28 303.45
2013-09-30 3,269.49 -60.11 328.92
2013-06-30 3,691.76 -24.05 383.88
2013-03-31 4,080.36 9.77 442.07
2012-12-31 4,551.83 34.82 508.36
2012-09-30 4,734.13 4.65 532.31

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Maple Leaf Foods has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Maple Leaf Foods used its assets less efficiently than the CA Food industry average last year based on Return on Assets.
  • Maple Leaf Foods has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Maple Leaf Foods's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Food industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Maple Leaf Foods has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

MFI Health

 How is Maple Leaf Foods's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Maple Leaf Foods's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Maple Leaf Foods is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Maple Leaf Foods's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Maple Leaf Foods's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Maple Leaf Foods Company Filings, last reported 3 months ago.

TSX:MFI Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 2,015.74 467.21 82.50
2018-12-31 2,006.84 383.42 72.58
2018-09-30 1,998.16 175.12 109.64
2018-06-30 2,051.50 57.63 36.50
2018-03-31 2,076.27 60.75 67.70
2017-12-31 2,051.61 9.25 203.43
2017-09-30 2,047.52 9.29 210.33
2017-06-30 2,048.09 9.85 105.24
2017-03-31 2,062.84 9.84 144.04
2016-12-31 2,088.02 15.81 404.04
2016-09-30 2,134.90 9.98 444.77
2016-06-30 2,094.24 10.50 313.18
2016-03-31 2,103.45 10.51 291.37
2015-12-31 2,041.32 23.45 292.70
2015-09-30 2,079.96 25.14 306.85
2015-06-30 2,172.16 31.64 410.28
2015-03-31 2,244.17 28.37 429.31
2014-12-31 2,244.50 22.98 498.64
2014-09-30 2,311.50 24.32 512.69
2014-06-30 2,353.10 25.98 543.54
2014-03-31 1,498.30 1,386.38 476.59
2013-12-31 1,641.99 1,008.81 515.12
2013-09-30 1,099.99 1,590.32 406.88
2013-06-30 1,068.53 1,403.28 153.76
2013-03-31 1,005.54 1,366.38 98.99
2012-12-31 958.00 1,336.47 98.27
2012-09-30 898.03 1,235.65 93.74
  • Maple Leaf Foods's level of debt (23.2%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (91% vs 23.2% today).
  • Debt is well covered by operating cash flow (61.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 15.6x coverage).
X
Financial health checks
We assess Maple Leaf Foods's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Maple Leaf Foods has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

MFI Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.97%
Current annual income from Maple Leaf Foods dividends. Estimated to be 4.75% next year.
If you bought CA$2,000 of Maple Leaf Foods shares you are expected to receive CA$39 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Maple Leaf Foods's pays a lower dividend yield than the bottom 25% of dividend payers in Canada (2.08%).
  • Maple Leaf Foods's dividend is below the markets top 25% of dividend payers in Canada (5.73%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:MFI Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
Canada Food Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 2%
Canada Market Average Dividend Yield Market Cap Weighted Average of 336 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.1%
Canada Bottom 25% Dividend Yield 25th Percentile 2.1%
Canada Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:MFI Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31 1.40 1.00
2019-12-31 1.40 1.00
TSX:MFI Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2019-02-28 0.580 1.919
2018-10-25 0.520 1.802
2018-07-26 0.520 1.643
2018-05-02 0.520 1.661
2018-02-21 0.520 1.652
2017-07-27 0.440 1.279
2017-04-27 0.440 1.312
2017-02-22 0.440 1.388
2016-11-02 0.360 1.251
2016-05-04 0.360 1.232
2016-03-01 0.360 1.346
2015-10-29 0.320 1.438
2015-07-30 0.320 1.445
2015-02-26 0.320 1.380
2014-10-30 0.160 0.816
2014-07-31 0.160 0.822
2014-05-01 0.160 0.838
2014-02-27 0.160 0.934
2013-10-30 0.160 0.993
2013-07-31 0.160 1.164
2013-05-02 0.160 1.181
2013-02-26 0.160 1.189
2012-10-31 0.160 1.357
2012-08-01 0.160 1.452
2012-05-02 0.160 1.412
2011-10-27 0.160 1.418
2011-07-28 0.160 1.435
2011-02-24 0.160 1.359
2010-10-28 0.160 1.371
2010-07-29 0.160 1.467
2010-02-24 0.160 1.650
2009-10-28 0.160 1.421
2009-07-29 0.160 1.699
2009-04-29 0.160 1.867
2009-02-24 0.160 1.924
2008-10-23 0.160 1.648
2008-07-24 0.160 1.798

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Maple Leaf Foods's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.9x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Maple Leaf Foods's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Maple Leaf Foods afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Maple Leaf Foods has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

MFI Management

 What is the CEO of Maple Leaf Foods's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Michael McCain
COMPENSATION CA$6,677,210
AGE 60
TENURE AS CEO 20.5 years
CEO Bio

Mr. Michael H. McCain, O.C., B.B.A., has been the Chief Executive Officer of Maple Leaf Foods Inc., since January 1, 1999 and has been its President since April 1995. Mr. McCain served as the Chief Operating Officer of Meat Products Group at Maple Leaf Foods Inc. since April 1995. He joined Maple Leaf Foods Inc., in April 1995 after 16 years with McCain Foods Limited in Canada and the United States. He started his career with McCain Foods, where he served progressively positions in sales, sales management, marketing management and information systems management. He is the President of McCain Capital Inc. He served as the President and Chief Executive Officer of McCain Citrus Inc. from 1986 to 1990. He served as the President and Chief Executive Officer of McCain Foods USA Inc. from 1990 to 1995. He served as the Chairman of Canada Bread Company Ltd. He has been an Independent Director of Royal Bank of Canada since October 18, 2005. He was a Member of the Board of Directors of RBC Financial Group of Athene Annuity & Life Assurance Company since 2005. He served as a Director of Canada Bread Company Ltd. since 1995 until May 23, 2014. He has been a Director of Maple Leaf Foods Inc. since April 24, 1995. He serves as a Director of McCain Foods Group Inc. and McCain Capital Corporation. He serves as a Director of MaRS Discovery District. He serves as Honorary Chairman of the Maple Leaf Centre for Action on Food Security and is on the Advisory Board of the Richard Ivey School of Business at Western University. He serves as a Director of the CAMH (Centre for Addiction and MentalHealth) Foundation and the American Meat Institute. He serves as a Member of the Advisory Board of the University of Western Ontario, Ivey School of Business (Richard Ivey School of Business). He serves as a Member of the Canadian Council of Chief Executives of The Hospital for Sick Children. He served as a Director of Bombardier Inc. from 2003 to December 2004. He served as a Director of The Hospital For Sick Children Pediatric Center. He served as a Director of the American Frozen Food Institute. Mr. McCain holds Bachelor of Business Administration (Honours) degree from the University of Western Ontario.

CEO Compensation
  • Michael's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Michael's remuneration is higher than average for companies of similar size in Canada.
Management Team Tenure

Average tenure of the Maple Leaf Foods management team in years:

5.9
Average Tenure
  • The average tenure for the Maple Leaf Foods management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Michael McCain

TITLE
President
COMPENSATION
CA$7M
AGE
60
TENURE
20.5 yrs

Curtis Frank

TITLE
President & COO
COMPENSATION
CA$2M

Debbie Simpson

TITLE
Chief Financial Officer
COMPENSATION
CA$1M
TENURE
5.2 yrs

Rick Young

TITLE
Senior Vice President of Operations
COMPENSATION
CA$1M
TENURE
9.4 yrs

Randall Huffman

TITLE
Chief Food Safety & Sustainability Officer
COMPENSATION
CA$1M
TENURE
10.5 yrs

Andreas Liris

TITLE
Chief Information Officer
TENURE
4.4 yrs

Kim Lee

TITLE
Vice President of Investor Relations
TENURE
0.8 yrs

Adam Grogan

TITLE
Senior Vice President of Marketing & Innovation

Ian Henry

TITLE
Senior Vice President of People
TENURE
5.9 yrs

Rocco Cappuccitti

TITLE
Senior VP & Corporate Secretary
Board of Directors Tenure

Average tenure and age of the Maple Leaf Foods board of directors in years:

3.2
Average Tenure
60
Average Age
  • The tenure for the Maple Leaf Foods board of directors is about average.
Board of Directors

Geoff Beattie

TITLE
Chairman of the Board
COMPENSATION
CA$192K
AGE
59
TENURE
0.2 yrs

Michael McCain

TITLE
President
COMPENSATION
CA$7M
AGE
60
TENURE
24.3 yrs

Bill Aziz

TITLE
Independent Director
COMPENSATION
CA$199K
AGE
63
TENURE
5.2 yrs

Jean Fraser

TITLE
Independent Director
COMPENSATION
CA$192K
AGE
71
TENURE
4.8 yrs

Ron Close

TITLE
Corporate Director
COMPENSATION
CA$179K
AGE
60
TENURE
4.3 yrs

John Lederer

TITLE
Corporate Director
COMPENSATION
CA$179K
AGE
63
TENURE
3.2 yrs

Carol Stephenson

TITLE
Corporate Director
COMPENSATION
CA$187K
AGE
68
TENURE
3.2 yrs

Katherine Lemon

TITLE
Independent Director
COMPENSATION
CA$119K
AGE
60
TENURE
1.2 yrs

Jonathan McCain

TITLE
Director
COMPENSATION
CA$118K
AGE
34
TENURE
1.2 yrs
Who owns this company?
Recent Insider Trading
  • Maple Leaf Foods individual insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
17. Jun 19 Sell Richard Young Individual 13. Jun 19 13. Jun 19 -25,000 CA$31.20 CA$-778,239
07. Jun 19 Sell Ian Henry Individual 07. Jun 19 07. Jun 19 -2,000 CA$31.25 CA$-62,500
13. May 19 Sell Rory McAlpine Individual 13. May 19 13. May 19 -1,641 CA$33.27 CA$-54,590
10. May 19 Sell Andreas Liris Individual 10. May 19 10. May 19 -3,388 CA$33.36 CA$-113,007
09. May 19 Buy Suzanne Hathaway Individual 09. May 19 09. May 19 1,000 CA$33.00 CA$33,000
08. May 19 Sell Ian Henry Individual 07. May 19 07. May 19 -3,000 CA$34.01 CA$-102,030
08. May 19 Sell Rory McAlpine Individual 06. May 19 06. May 19 -8,800 CA$33.63 CA$-295,944
06. May 19 Sell Glen Gratton Individual 06. May 19 06. May 19 -4,000 CA$33.52 CA$-134,085
18. Mar 19 Sell Glen Gratton Individual 15. Mar 19 15. Mar 19 -4,000 CA$27.04 CA$-108,159
13. Mar 19 Sell Rory McAlpine Individual 11. Mar 19 11. Mar 19 -4,000 CA$27.23 CA$-108,920
13. Mar 19 Buy William Beattie Individual 28. Dec 18 28. Dec 18 1,592 CA$25.56 CA$40,692
04. Mar 19 Buy William Aziz Individual 04. Mar 19 04. Mar 19 2,230 CA$27.60 CA$61,548
25. Dec 18 Buy John Lederer Individual 20. Dec 18 20. Dec 18 25,000 CA$26.92 CA$673,000
31. Aug 18 Sell James McCain Individual 28. Aug 18 28. Aug 18 -100 CA$31.18 CA$-3,118
29. Aug 18 Sell Gary Maksymetz Individual 29. Aug 18 29. Aug 18 -50,000 CA$31.43 CA$-1,571,500
X
Management checks
We assess Maple Leaf Foods's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Maple Leaf Foods has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

MFI News

Simply Wall St News

Despite Its High P/E Ratio, Is Maple Leaf Foods Inc. (TSE:MFI) Still Undervalued?

We'll look at Maple Leaf Foods Inc.'s (TSE:MFI) P/E ratio and reflect on what it tells us about the company's share price. … View our latest analysis for Maple Leaf Foods How Do I Calculate A Price To Earnings Ratio? … The formula for P/E is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Maple Leaf Foods: P/E of 29.6 = CA$29.41 ÷ CA$0.99 (Based on the year to March 2019.) Is A High Price-to-Earnings Ratio Good?

Simply Wall St -

Is Maple Leaf Foods (TSE:MFI) A Risky Investment?

See our latest analysis for Maple Leaf Foods How Much Debt Does Maple Leaf Foods Carry? … Either way, since Maple Leaf Foods does have more debt than cash, it's worth keeping an eye on its balance sheet. … During the last three years, Maple Leaf Foods produced sturdy free cash flow equating to 74% of its EBIT, about what we'd expect.

Simply Wall St -

Should You Care About Maple Leaf Foods Inc.’s (TSE:MFI) Investment Potential?

Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Maple Leaf Foods: 0.086 = CA$244m ÷ (CA$3.4b - CA$607m) (Based on the trailing twelve months to March 2019.) Therefore, Maple Leaf Foods has an ROCE of 8.6%. … Check out our latest analysis for Maple Leaf Foods Is Maple Leaf Foods's ROCE Good? … Maple Leaf Foods's Current Liabilities And Their Impact On Its ROCE Short term (or current) liabilities, are things like supplier invoices, overdrafts, or tax bills that need to be paid within 12 months.

Simply Wall St -

The Maple Leaf Foods (TSE:MFI) Share Price Has Gained 71% And Shareholders Are Hoping For More

(TSE:MFI) share price is up 71% in the last 5 years, clearly besting than the market return of around 4.0% (ignoring dividends). … Indeed, the Maple Leaf Foods share price has gained 7.9% in three years. … We note that for Maple Leaf Foods the TSR over the last 5 years was 83%, which is better than the share price return mentioned above.

Simply Wall St -

Have Insiders Been Selling Maple Leaf Foods Inc. (TSE:MFI) Shares?

As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.' See our latest analysis for Maple Leaf Foods The Last 12 Months Of Insider Transactions At Maple Leaf Foods The , Gary Maksymetz, made the biggest insider sale in the last 12 months. … Maple Leaf Foods Insiders Are Selling The Stock We've seen more insider selling than insider buying at Maple Leaf Foods recently. … Unfortunately, there has been more insider selling of Maple Leaf Foods stock, than buying, in the last three months.

Simply Wall St -

Do Insiders Own Lots Of Shares In Maple Leaf Foods Inc. (TSE:MFI)?

Every investor in Maple Leaf Foods Inc. … Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … Maple Leaf Foods has a market capitalization of CA$3.8b, so we would expect some institutional investors to have noticed the stock.

Simply Wall St -

Despite Its High P/E Ratio, Is Maple Leaf Foods Inc. (TSE:MFI) Still Undervalued?

We'll apply a basic P/E ratio analysis to Maple Leaf Foods Inc.'s (TSE:MFI), to help you decide if the stock is worth further research. … Based on the last twelve months, Maple Leaf Foods's P/E ratio is 37.35. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Can Maple Leaf Foods Inc. (TSE:MFI) Improve Its Returns?

By way of learning-by-doing, we'll look at ROE to gain a better understanding of Maple Leaf Foods Inc. … Maple Leaf Foods has a ROE of 5.1%, based on the last twelve months. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Does Maple Leaf Foods Inc.'s (TSE:MFI) CEO Pay Reflect Performance?

First, this article will compare CEO compensation with compensation at similar sized companies. … has a market capitalization of CA$3.6b, and pays its CEO total annual compensation worth CA$8.3m. … While this analysis focuses on total compensation, it's worth noting the salary is lower, valued at CA$1.1m.

Simply Wall St -

Only 4 Days Left To Cash In On Maple Leaf Foods Inc. (TSE:MFI) Dividend

To qualify for the dividend check of CA$0.14 per share, investors must have owned the shares prior to 14 March 2019, which is the last day the company's management will finalize their list of shareholders to which they will send dividend payments. … Investors looking for higher income-generating stocks to add to their portfolio should keep reading, as I take a deeper dive into Maple Leaf Foods's latest financial data to analyse its dividend attributes. … Whenever I am looking at a potential dividend stock investment, I always check these five metrics:?

Simply Wall St -

MFI Company Info

Description

Maple Leaf Foods Inc. operates as a consumer protein company. It produces various food products, including prepared meats, ready-to-cook and ready-to-serve meals, fresh pork, poultry, and plant protein products. The company offers its products under various brands, including Maple Leaf, Maple Leaf Prime, Maple Leaf Natural Selections, Schneiders, Schneiders Country Naturals, Mina, Greenfield Natural Meat Co., Lightlife, Field Roast Grain Meat Co., and Swift. It primarily markets its products in Canada, the United States, and Asia. The company is headquartered in Mississauga, Canada.

Details
Name: Maple Leaf Foods Inc.
MFI
Exchange: TSX
Founded:
CA$3,637,443,890
123,512,526
Website: http://www.mapleleaffoods.com
Address: Maple Leaf Foods Inc.
6897 Financial Drive,
Mississauga,
Ontario, L5N 0A8,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX MFI Voting Common Shares The Toronto Stock Exchange CA CAD 24. Apr 1995
OTCPK MLFN.F Voting Common Shares Pink Sheets LLC US USD 24. Apr 1995
DB M1L Voting Common Shares Deutsche Boerse AG DE EUR 24. Apr 1995
LSE 0V5G Voting Common Shares London Stock Exchange GB CAD 24. Apr 1995
Number of employees
Current staff
Staff numbers
12,500
Maple Leaf Foods employees.
Industry
Packaged Foods and Meats
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/15 23:43
End of day share price update: 2019/07/15 00:00
Last estimates confirmation: 2019/06/26
Last earnings filing: 2019/05/02
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.