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MTL

Mullen Group TSX:MTL Stock Report

Last Price

CA$11.67

Market Cap

CA$1.1b

7D

1.4%

1Y

-3.6%

Updated

27 Jun, 2022

Data

Company Financials +
MTL fundamental analysis
Snowflake Score
Valuation3/6
Future Growth2/6
Past Performance1/6
Financial Health3/6
Dividends4/6

MTL Stock Overview

Mullen Group Ltd. provides a range of trucking and logistics services in Canada and the United States.

Mullen Group Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Mullen Group
Historical stock prices
Current Share PriceCA$11.67
52 Week HighCA$14.48
52 Week LowCA$10.97
Beta1.98
1 Month Change-5.89%
3 Month Change-13.17%
1 Year Change-3.63%
3 Year Change22.84%
5 Year Change-27.06%
Change since IPO678.00%

Recent News & Updates

Jun 14
These 4 Measures Indicate That Mullen Group (TSE:MTL) Is Using Debt Reasonably Well

These 4 Measures Indicate That Mullen Group (TSE:MTL) Is Using Debt Reasonably Well

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...

May 18
Is It Time To Consider Buying Mullen Group Ltd. (TSE:MTL)?

Is It Time To Consider Buying Mullen Group Ltd. (TSE:MTL)?

While Mullen Group Ltd. ( TSE:MTL ) might not be the most widely known stock at the moment, it saw a decent share price...

Shareholder Returns

MTLCA TransportationCA Market
7D1.4%4.0%0.3%
1Y-3.6%2.1%-4.0%

Return vs Industry: MTL underperformed the Canadian Transportation industry which returned 2.1% over the past year.

Return vs Market: MTL matched the Canadian Market which returned -4% over the past year.

Price Volatility

Is MTL's price volatile compared to industry and market?
MTL volatility
MTL Average Weekly Movement4.7%
Transportation Industry Average Movement4.7%
Market Average Movement10.0%
10% most volatile stocks in CA Market17.3%
10% least volatile stocks in CA Market4.4%

Stable Share Price: MTL is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: MTL's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19497,202Murray Mullenhttps://www.mullen-group.com

Mullen Group Ltd. provides a range of trucking and logistics services in Canada and the United States. The company operates in four segments: Less-Than-Truckload, Logistics & Warehousing, Specialized & Industrial Services, and U.S. & International Logistics. The Less-Than-Truckload segment delivers general freight consisting of smaller shipments, packages, and parcels; and pharmaceutical and package products.

Mullen Group Fundamentals Summary

How do Mullen Group's earnings and revenue compare to its market cap?
MTL fundamental statistics
Market CapCA$1.08b
Earnings (TTM)CA$75.93m
Revenue (TTM)CA$1.64b

14.3x

P/E Ratio

0.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MTL income statement (TTM)
RevenueCA$1.64b
Cost of RevenueCA$1.20b
Gross ProfitCA$443.10m
Other ExpensesCA$367.18m
EarningsCA$75.93m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.81
Gross Margin26.96%
Net Profit Margin4.62%
Debt/Equity Ratio77.7%

How did MTL perform over the long term?

See historical performance and comparison

Dividends

6.2%

Current Dividend Yield

64%

Payout Ratio

Does MTL pay a reliable dividends?

See MTL dividend history and benchmarks
When do you need to buy MTL by to receive an upcoming dividend?
Mullen Group dividend dates
Ex Dividend DateJun 29 2022
Dividend Pay DateJul 15 2022
Days until Ex dividend1 day
Days until Dividend pay date17 days

Does MTL pay a reliable dividends?

See MTL dividend history and benchmarks
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • 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 MTL?

Other financial metrics that can be useful for relative valuation.

MTL 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/Revenue1.1x
Enterprise Value/EBITDA8.8x
PEG Ratio1.1x

Price to Earnings Ratio vs Peers

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

MTL PE Ratio vs Peers
The above table shows the PE ratio for MTL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average13x
TFII TFI International
9.6x3.9%CA$9.3b
TTR Titanium Transportation Group
9.5x12.8%CA$93.8m
EIF Exchange Income
25.9x39.8%CA$1.7b
ALC Algoma Central
6.8xn/aCA$581.0m
MTL Mullen Group
14.2x12.6%CA$1.1b

Price-To-Earnings vs Peers: MTL is expensive based on its Price-To-Earnings Ratio (14.3x) compared to the peer average (13x).


Price to Earnings Ratio vs Industry

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

Price-To-Earnings vs Industry: MTL is expensive based on its Price-To-Earnings Ratio (14.3x) compared to the Canadian Transportation industry average (14.2x)


Price to Earnings Ratio vs Fair Ratio

What is MTL'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.

MTL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.3x
Fair PE Ratio18.5x

Price-To-Earnings vs Fair Ratio: MTL is good value based on its Price-To-Earnings Ratio (14.3x) compared to the estimated Fair Price-To-Earnings Ratio (18.5x).


Share Price vs Fair Value

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

Below Fair Value: MTL (CA$11.67) is trading below our estimate of fair value (CA$28.99)

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


Price to Earnings Growth Ratio

PEG Ratio: MTL is poor value based on its PEG Ratio (1.1x)


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Future Growth

How is Mullen Group forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


12.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MTL's forecast earnings growth (12.6% per year) is above the savings rate (1.6%).

Earnings vs Market: MTL's earnings (12.6% per year) are forecast to grow faster than the Canadian market (8.2% per year).

High Growth Earnings: MTL's earnings are forecast to grow, but not significantly.

Revenue vs Market: MTL's revenue (3.9% per year) is forecast to grow slower than the Canadian market (6.9% per year).

High Growth Revenue: MTL's revenue (3.9% 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 MTL's Return on Equity is forecast to be high in 3 years time


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Past Performance

How has Mullen Group performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


13.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MTL has a large one-off gain of CA$18.9M impacting its March 31 2022 financial results.

Growing Profit Margin: MTL's current net profit margins (4.6%) are lower than last year (6.4%).


Past Earnings Growth Analysis

Earnings Trend: MTL's earnings have grown by 13.6% per year over the past 5 years.

Accelerating Growth: MTL's earnings growth over the past year (5%) is below its 5-year average (13.6% per year).

Earnings vs Industry: MTL earnings growth over the past year (5%) underperformed the Transportation industry 37.1%.


Return on Equity

High ROE: MTL's Return on Equity (8.6%) is considered low.


Discover strong past performing companies

Financial Health

How is Mullen Group'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: MTL's short term assets (CA$352.6M) exceed its short term liabilities (CA$296.2M).

Long Term Liabilities: MTL's short term assets (CA$352.6M) do not cover its long term liabilities (CA$779.0M).


Debt to Equity History and Analysis

Debt Level: MTL's net debt to equity ratio (77%) is considered high.

Reducing Debt: MTL's debt to equity ratio has increased from 71.6% to 77.7% over the past 5 years.

Debt Coverage: MTL's debt is well covered by operating cash flow (25.8%).

Interest Coverage: MTL's interest payments on its debt are well covered by EBIT (3.7x coverage).


Balance Sheet


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Dividend

What is Mullen Group 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

  • Future Dividend Coverage


6.17%

Current Dividend Yield

Upcoming Dividend Payment

TodayJun 27 2022Ex Dividend DateJun 29 2022Dividend Pay DateJul 15 202216 days from Ex DividendBuy in the next 1 day to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: MTL's dividend (6.17%) is higher than the bottom 25% of dividend payers in the Canadian market (2.03%).

High Dividend: MTL's dividend (6.17%) is in the top 25% of dividend payers in the Canadian market (5.33%)


Stability and Growth of Payments

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

Growing Dividend: MTL's dividend payments have fallen over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (64.1%), MTL's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (62.8%), MTL's dividend payments are covered by cash flows.


Discover strong dividend paying companies

Management

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

0.4yrs

Average management tenure


CEO

Murray Mullen (65 yo)

8yrs

Tenure

CA$625,000

Compensation

Mr. Murray Kenneth Mullen serves as Senior Executive Officer of Mullen Group from 2022. He is President of Mullen Trucking Corp. Mr. Mullen had been the Chief Executive Officer Mullen Group Ltd. since June...


Leadership Team

Experienced Management: MTL's management team is not considered experienced ( 0.4 years average tenure), which suggests a new team.


Board Members

Experienced Board: MTL's board of directors are considered experienced (5.1 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: MTL 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.


Top Shareholders

Company Information

Mullen Group Ltd.'s employee growth, exchange listings and data sources


Key Information

  • Name: Mullen Group Ltd.
  • Ticker: MTL
  • Exchange: TSX
  • Founded: 1949
  • Industry: Trucking
  • Sector: Transportation
  • Implied Market Cap: CA$1.077b
  • Shares outstanding: 93.23m
  • Website: https://www.mullen-group.com

Number of Employees


Location

  • Mullen Group Ltd.
  • Chimney Rock Centre
  • 121A-31 Southridge Drive
  • Okotoks
  • Alberta
  • T1S 2N3
  • Canada

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/27 00:00
End of Day Share Price2022/06/27 00:00
Earnings2022/03/31
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.