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MX

Methanex TSX:MX Stock Report

Last Price

CA$39.37

Market Cap

CA$2.8b

7D

-10.1%

1Y

-31.4%

Updated

24 Sep, 2022

Data

Company Financials +
MX fundamental analysis
Snowflake Score
Valuation5/6
Future Growth0/6
Past Performance5/6
Financial Health3/6
Dividends4/6

MX Stock Overview

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America.

Methanex Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Methanex
Historical stock prices
Current Share PriceCA$39.37
52 Week HighCA$71.63
52 Week LowCA$39.11
Beta2.05
1 Month Change-25.77%
3 Month Change-24.07%
1 Year Change-31.42%
3 Year Change-16.20%
5 Year Change-37.21%
Change since IPO774.89%

Recent News & Updates

Aug 17
Do Methanex's (TSE:MX) Earnings Warrant Your Attention?

Do Methanex's (TSE:MX) Earnings Warrant Your Attention?

It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...

Shareholder Returns

MXCA ChemicalsCA Market
7D-10.1%-2.4%-4.8%
1Y-31.4%23.7%-7.2%

Return vs Industry: MX underperformed the Canadian Chemicals industry which returned 23.7% over the past year.

Return vs Market: MX underperformed the Canadian Market which returned -7.2% over the past year.

Price Volatility

Is MX's price volatile compared to industry and market?
MX volatility
MX Average Weekly Movement6.6%
Chemicals Industry Average Movement11.4%
Market Average Movement9.9%
10% most volatile stocks in CA Market18.3%
10% least volatile stocks in CA Market3.8%

Stable Share Price: MX is not significantly more volatile than the rest of Canadian stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: MX's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19681,300John Florenhttps://www.methanex.com

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities.

Methanex Fundamentals Summary

How do Methanex's earnings and revenue compare to its market cap?
MX fundamental statistics
Market CapCA$2.76b
Earnings (TTM)CA$698.23m
Revenue (TTM)CA$6.30b

4.0x

P/E Ratio

0.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MX income statement (TTM)
RevenueUS$4.64b
Cost of RevenueUS$3.44b
Gross ProfitUS$1.20b
Other ExpensesUS$689.33m
EarningsUS$514.72m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Oct 26, 2022

Earnings per share (EPS)7.34
Gross Margin25.93%
Net Profit Margin11.08%
Debt/Equity Ratio90.6%

How did MX perform over the long term?

See historical performance and comparison

Dividends

2.4%

Current Dividend Yield

8%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings 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 MX?

Other financial metrics that can be useful for relative valuation.

MX 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/Revenue0.9x
Enterprise Value/EBITDA4.3x
PEG Ratio-0.1x

Price to Earnings Ratio vs Peers

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

MX PE Ratio vs Peers
The above table shows the PE ratio for MX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average21.4x
BOS AirBoss of America
5.3x34.5%CA$244.4m
WPK Winpak
18.2x1.8%CA$2.9b
SJ Stella-Jones
11.7x3.9%CA$2.3b
AGI Alamos Gold
50.3x27.2%CA$3.6b
MX Methanex
4x-28.6%CA$2.8b

Price-To-Earnings vs Peers: MX is good value based on its Price-To-Earnings Ratio (4x) compared to the peer average (21.4x).


Price to Earnings Ratio vs Industry

How does MX's PE Ratio compare vs other companies in the North American Chemicals Industry?

Price-To-Earnings vs Industry: MX is good value based on its Price-To-Earnings Ratio (4x) compared to the North American Chemicals industry average (11.5x)


Price to Earnings Ratio vs Fair Ratio

What is MX'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.

MX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio4x
Fair PE Ratio5.4x

Price-To-Earnings vs Fair Ratio: MX is good value based on its Price-To-Earnings Ratio (4x) compared to the estimated Fair Price-To-Earnings Ratio (5.4x).


Share Price vs Fair Value

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

Below Fair Value: MX (CA$39.37) is trading below our estimate of fair value (CA$204.87)

Significantly Below Fair Value: MX 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 Methanex forecast to perform in the next 1 to 3 years based on estimates from 8 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


-28.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MX's earnings are forecast to decline over the next 3 years (-28.6% per year).

Earnings vs Market: MX's earnings are forecast to decline over the next 3 years (-28.6% per year).

High Growth Earnings: MX's earnings are forecast to decline over the next 3 years.

Revenue vs Market: MX's revenue (1.5% per year) is forecast to grow slower than the Canadian market (5.8% per year).

High Growth Revenue: MX's revenue (1.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MX's Return on Equity is forecast to be low in 3 years time (13.8%).


Discover growth companies

Past Performance

How has Methanex performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-8.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MX has high quality earnings.

Growing Profit Margin: MX's current net profit margins (11.1%) are higher than last year (2.8%).


Past Earnings Growth Analysis

Earnings Trend: MX's earnings have declined by 8.2% per year over the past 5 years.

Accelerating Growth: MX's earnings growth over the past year (433.1%) exceeds its 5-year average (-8.2% per year).

Earnings vs Industry: MX earnings growth over the past year (433.1%) exceeded the Chemicals industry 278.8%.


Return on Equity

High ROE: MX's Return on Equity (24.6%) is considered high.


Discover strong past performing companies

Financial Health

How is Methanex's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: MX's short term assets ($1.9B) exceed its short term liabilities ($826.8M).

Long Term Liabilities: MX's short term assets ($1.9B) do not cover its long term liabilities ($3.2B).


Debt to Equity History and Analysis

Debt Level: MX's net debt to equity ratio (53.7%) is considered high.

Reducing Debt: MX's debt to equity ratio has increased from 83.5% to 90.6% over the past 5 years.

Debt Coverage: MX's debt is well covered by operating cash flow (47.1%).

Interest Coverage: MX's interest payments on its debt are well covered by EBIT (5.4x coverage).


Balance Sheet


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Dividend

What is Methanex current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


2.41%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: MX's dividend (2.41%) is higher than the bottom 25% of dividend payers in the Canadian market (2.05%).

High Dividend: MX's dividend (2.41%) is low compared to the top 25% of dividend payers in the Canadian market (5.95%).


Stability and Growth of Payments

Stable Dividend: MX's dividend payments have been volatile in the past 10 years.

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


Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (7.5%), MX's dividend payments are thoroughly covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (8.1%), MX's dividend payments are thoroughly covered by cash flows.


Discover strong dividend paying companies

Management

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

7.7yrs

Average management tenure


CEO

John Floren (63 yo)

9.67yrs

Tenure

US$8,290,433

Compensation

Mr. John N. Floren has been the Chief Executive Officer and President of Methanex Corporation since January 1, 2013. Mr. Floren served as a Senior Vice President of Global Marketing and Logistics at Methan...


CEO Compensation Analysis

Compensation vs Market: John's total compensation ($USD8.29M) is above average for companies of similar size in the Canadian market ($USD2.37M).

Compensation vs Earnings: John's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: MX's management team is seasoned and experienced (7.7 years average tenure).


Board Members

Experienced Board: MX's board of directors are considered experienced (4.3 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: MX insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

TSX:MX Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
19 Sep 22BuyCA$83,768Maureen HoweIndividual1,900CA$44.10
22 Jun 22BuyCA$4,980Xiaoping YangIndividual100CA$49.80
13 Jun 22BuyCA$11,962Xiaoping YangIndividual200CA$60.45
12 May 22BuyCA$6,120Xiaoping YangIndividual100CA$61.20
09 May 22BuyCA$508,618Nojan AbraryIndividual8,039CA$63.33
31 Mar 22SellCA$511,125Vanessa JamesIndividual7,500CA$68.15
21 Mar 22SellCA$77,000Sarah BoonIndividual1,100CA$70.00
21 Mar 22SellCA$446,558Nojan AbraryIndividual6,379CA$70.06
07 Mar 22SellCA$210,000Allard MarkIndividual3,000CA$70.00
18 Feb 22BuyCA$6,118Xiaoping YangIndividual100CA$61.18
28 Jan 22BuyCA$5,877Xiaoping YangIndividual100CA$58.77
14 Dec 21BuyCA$390,697James BertramIndividual7,875CA$49.61
03 Dec 21SellCA$152,736Alejandro LarriveIndividual3,000CA$50.91

Ownership Breakdown

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


Top Shareholders

Top 25 shareholders own 65.12% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
20.18%
M&G Investment Management Limited
14,150,086$557.1m-1.37%0.99%
10.53%
Fidelity International Ltd
7,382,624$290.7m-13.34%0.12%
5.85%
Wellington Management Group LLP
4,102,891$161.5m-3.49%0.02%
5.77%
FMR LLC
4,049,500$159.4m-27.9%0.01%
3.12%
Standard Investments LLC
2,190,000$86.2m34.82%2.48%
2.75%
The Vanguard Group, Inc.
1,931,750$76.1m-1.2%no data
2.09%
Acadian Asset Management LLC
1,467,779$57.8m196.62%0.17%
1.68%
RBC Global Asset Management Inc.
1,175,199$46.3m0.8%0.03%
1.24%
BMO Asset Management Corp.
871,400$34.3m1.06%0.02%
1.21%
Mackenzie Financial Corporation
849,906$33.5m-47.89%0.03%
1.07%
Scheer, Rowlett & Associates Investment Management Ltd.
749,412$29.5m-3.7%1.91%
1.05%
RBC Dominion Securities Inc., Asset Management Arm
733,661$28.9m-0.67%0.03%
1.02%
Granite Investment Partners, LLC
715,728$28.2m0.31%0.68%
0.91%
Norges Bank Investment Management
638,018$25.1m0%no data
0.86%
Alberta Investment Management Corporation
602,087$23.7m51.9%0.14%
0.81%
Connor, Clark & Lunn Investment Management Ltd.
568,800$22.4m-24.67%0.1%
0.71%
Dimensional Fund Advisors LP
500,846$19.7m9.98%no data
0.62%
Morgan Stanley, Investment Banking and Brokerage Investments
434,702$17.1m153.58%no data
0.58%
Becker Capital Management Inc
405,247$16.0m-1%0.62%
0.56%
Arrowstreet Capital, Limited Partnership
392,113$15.4m0%0.02%
0.53%
Hillsdale Investment Management Inc.
373,300$14.7m-5.45%0.83%
0.53%
Victory Capital Management Inc.
372,716$14.7m11.65%0.01%
0.51%
Millennium Management LLC
354,256$13.9m810.54%0.01%
0.48%
Renaissance Technologies LLC
337,348$13.3m-22.37%0.01%
0.46%
IG Investment Management, Ltd.
321,064$12.6m0%0.03%

Company Information

Methanex Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Methanex Corporation
  • Ticker: MX
  • Exchange: TSX
  • Founded: 1968
  • Industry: Commodity Chemicals
  • Sector: Materials
  • Implied Market Cap: CA$2.761b
  • Shares outstanding: 70.13m
  • Website: https://www.methanex.com

Number of Employees


Location

  • Methanex Corporation
  • 1800 Waterfront Centre
  • 200 Burrard Street
  • Vancouver
  • British Columbia
  • V6C 3M1
  • Canada


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MEOHNasdaqGS (Nasdaq Global Select)YesCommon SharesUSUSDSep 1991
MXTSX (The Toronto Stock Exchange)YesCommon SharesCACADSep 1991
MX5DB (Deutsche Boerse AG)YesCommon SharesDEEURSep 1991
MEOH NBMV (Bolsa Mexicana de Valores)YesCommon SharesMXMXNSep 1991

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/24 00:00
End of Day Share Price2022/09/23 00:00
Earnings2022/06/30
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.