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MXG

Maxim Power TSX:MXG Stock Report

Last Price

CA$3.55

Market Cap

CA$177.8m

7D

-13.4%

1Y

12.0%

Updated

06 Oct, 2022

Data

Company Financials
MXG fundamental analysis
Snowflake Score
Valuation2/6
Future Growth0/6
Past Performance1/6
Financial Health3/6
Dividends0/6

MXG Stock Overview

Maxim Power Corp., an independent power producer, engages in the development, ownership, and operation of power generation facilities in Canada.

Maxim Power Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Maxim Power
Historical stock prices
Current Share PriceCA$3.55
52 Week HighCA$4.83
52 Week LowCA$3.04
Beta0.79
1 Month Change-11.47%
3 Month Change12.70%
1 Year Change11.99%
3 Year Change115.15%
5 Year Change33.96%
Change since IPO-63.02%

Recent News & Updates

Sep 16
We Think Maxim Power (TSE:MXG) Has A Fair Chunk Of Debt

We Think Maxim Power (TSE:MXG) Has A Fair Chunk Of Debt

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

Shareholder Returns

MXGCA Renewable EnergyCA Market
7D-13.4%-0.5%3.2%
1Y12.0%-4.9%-4.9%

Return vs Industry: MXG exceeded the Canadian Renewable Energy industry which returned -2.4% over the past year.

Return vs Market: MXG exceeded the Canadian Market which returned -3% over the past year.

Price Volatility

Is MXG's price volatile compared to industry and market?
MXG volatility
MXG Average Weekly Movement7.4%
Renewable Energy Industry Average Movement4.2%
Market Average Movement10.1%
10% most volatile stocks in CA Market18.4%
10% least volatile stocks in CA Market3.8%

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

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

About the Company

FoundedEmployeesCEOWebsite
201034M. Chernoffhttps://maximpowercorp.com

Maxim Power Corp., an independent power producer, engages in the development, ownership, and operation of power generation facilities in Canada. Its core asset is Milner 2 power plant, a 204 megawatt natural gas-fired turbine generator located in Grande Cache, Alberta. Maxim Power Corp. is headquartered in Calgary, Canada.

Maxim Power Fundamentals Summary

How do Maxim Power's earnings and revenue compare to its market cap?
MXG fundamental statistics
Market CapCA$177.85m
Earnings (TTM)CA$47.96m
Revenue (TTM)CA$165.81m

3.7x

P/E Ratio

1.1x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MXG income statement (TTM)
RevenueCA$165.81m
Cost of RevenueCA$96.72m
Gross ProfitCA$69.10m
Other ExpensesCA$21.14m
EarningsCA$47.96m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.96
Gross Margin41.67%
Net Profit Margin28.92%
Debt/Equity Ratio33.3%

How did MXG perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • 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 MXG?

Other financial metrics that can be useful for relative valuation.

MXG 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/Revenue1.5x
Enterprise Value/EBITDA40.8x
PEG Ration/a

Price to Earnings Ratio vs Peers

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

MXG PE Ratio vs Peers
The above table shows the PE ratio for MXG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average44.6x
CPX Capital Power
40.1x26.3%CA$5.2b
PIF Polaris Renewable Energy
100.1x23.2%CA$308.2m
JPWR.UN Jade Power Trust
20.7xn/aCA$67.9m
CUP.U Caribbean Utilities Company
17.5x6.8%US$547.9m
MXG Maxim Power
3.7xn/aCA$177.8m

Price-To-Earnings vs Peers: MXG is good value based on its Price-To-Earnings Ratio (3.7x) compared to the peer average (44.6x).


Price to Earnings Ratio vs Industry

How does MXG's PE Ratio compare vs other companies in the Global Renewable Energy Industry?

Price-To-Earnings vs Industry: MXG is good value based on its Price-To-Earnings Ratio (3.7x) compared to the Global Renewable Energy industry average (16.3x)


Price to Earnings Ratio vs Fair Ratio

What is MXG'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.

MXG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio3.7x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate MXG's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

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

Below Fair Value: Insufficient data to calculate MXG's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate MXG's fair value for valuation analysis.


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 Maxim Power 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


6.8%

Forecasted Utilities 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 Maxim Power 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.


Discover growth companies

  • Take a look at our analysis of MXG’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  • Maxim Power competitive advantages and company strategy can generally be found in its financial reports archived here.

Past Performance

How has Maxim Power 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


77.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MXG has a high level of non-cash earnings.

Growing Profit Margin: MXG's current net profit margins (28.9%) are lower than last year (59.8%).


Past Earnings Growth Analysis

Earnings Trend: MXG has become profitable over the past 5 years, growing earnings by 77.9% per year.

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

Earnings vs Industry: MXG had negative earnings growth (-26.7%) over the past year, making it difficult to compare to the Renewable Energy industry average (-26.7%).


Return on Equity

High ROE: MXG's Return on Equity (19%) is considered low.


Discover strong past performing companies

Financial Health

How is Maxim Power'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: MXG's short term assets (CA$43.2M) exceed its short term liabilities (CA$18.2M).

Long Term Liabilities: MXG's short term assets (CA$43.2M) do not cover its long term liabilities (CA$95.3M).


Debt to Equity History and Analysis

Debt Level: MXG's net debt to equity ratio (26.4%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if MXG's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: MXG's debt is well covered by operating cash flow (81.1%).

Interest Coverage: Insufficient data to determine if MXG's interest payments on its debt are well covered by EBIT.


Balance Sheet


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Dividend

What is Maxim Power 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

  • Cash Flow Coverage

Dividend Yield vs Market

Maxim Power Dividend Yield vs Market
How does Maxim Power dividend yield compare to the market?
SegmentDividend Yield
Company (Maxim Power)n/a
Market Bottom 25% (CA)1.9%
Market Top 25% (CA)6.0%
Industry Average (Renewable Energy)3.9%
Analyst forecast in 3 Years (Maxim Power)n/a

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

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

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


Discover strong dividend paying companies

Management

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

6.2yrs

Average management tenure


CEO

M. Chernoff (56 yo)

17.58yrs

Tenure

Mr. M. Bruce Chernoff, P.Eng., serves as the President of Caribou Capital Corp. Mr. Chernoff has been the Chief Executive Officer of Maxim Power Corp. since November 23, 2018. He was Interim Chief Executiv...


Leadership Team

Experienced Management: MXG's management team is seasoned and experienced (6.2 years average tenure).


Board Members

Experienced Board: MXG's board of directors are considered experienced (9.7 years average tenure).


Ownership

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


Insider Trading Volume

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


Recent Insider Transactions

TSX:MXG Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
29 Aug 22BuyCA$19,710Kyle MittonIndividual5,400CA$3.65
18 Jul 22BuyCA$9,754Kyle MittonIndividual2,947CA$3.31
30 May 22SellCA$3,690Wiley AuchIndividual1,000CA$3.69
27 May 22SellCA$7,500Kim KarranIndividual2,000CA$3.75
27 May 22SellCA$378Wiley AuchIndividual100CA$3.78
25 May 22SellCA$12,862Wiley AuchIndividual3,500CA$3.67
25 May 22SellCA$14,664Kim KarranIndividual4,000CA$3.69
24 May 22SellCA$1,825Wiley AuchIndividual500CA$3.65
20 May 22SellCA$7,300Wiley AuchIndividual2,000CA$3.65
19 May 22SellCA$21,950Wiley AuchIndividual6,000CA$3.66
19 May 22SellCA$14,600Kim KarranIndividual4,000CA$3.65
14 Apr 22BuyCA$2,015,640W. WilsonIndividual559,900CA$3.60
14 Apr 22BuyCA$2,015,640Alpine Capital Corp.Company559,900CA$3.60
12 Jan 22BuyCA$9,800National Bank Investments Inc.Company2,500CA$3.92
11 Nov 21BuyCA$2,400,000W. WilsonIndividual750,000CA$3.20
11 Nov 21BuyCA$2,400,000Alpine Capital Corp.Company750,000CA$3.20

Ownership Breakdown

What is the ownership structure of MXG?
Owner TypeNumber of SharesOwnership Percentage
Institutions2,285,9354.6%
General Public12,490,07324.9%
Private Companies16,243,19532.4%
Individual Insiders19,078,66038.1%

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


Top Shareholders

Top 20 shareholders own 75.07% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
34.17%
W. Wilson
17,116,452CA$60.8m3.38%no data
32.05%
Alpine Capital Corp.
16,057,481CA$57.0m3.61%no data
2.63%
PenderFund Capital Management Ltd.
1,315,400CA$4.7m0%1.09%
2.17%
M. Chernoff
1,086,842CA$3.9m0%no data
1.3%
Caribou Capital Corporation
650,158CA$2.3m0%100%
0.57%
Kyle Mitton
287,547CA$1.0m28.25%no data
0.31%
Robert Emmott
156,042CA$553.9k64.05%no data
0.28%
Yacktman Asset Management LP
140,000CA$497.0k0%no data
0.25%
Wellington-Altus Financial Inc.
124,063CA$440.4k0%no data
0.23%
Dimensional Fund Advisors LP
114,093CA$405.0k-0.69%no data
0.2%
Robert Watson
101,110CA$358.9k32.97%no data
0.19%
Kim Karran
96,511CA$342.6k46.22%no data
0.19%
Wiley Auch
93,401CA$331.6k21.56%no data
0.14%
Johann Polz
71,944CA$255.4k0%no data
0.13%
Kevin Dyck
63,811CA$226.5k25.28%no data
0.12%
Flying W Consulting Inc
61,651CA$218.9k52.13%no data
0.07%
PI Financial Corp., Asset Management Arm
34,959CA$124.1k0%22.63%
0.053%
National Bank Investments Inc.
26,325CA$93.5k406.25%no data
0.01%
Royal Bank of Canada, Banking & Securities Investments
5,000CA$17.8k0%no data
0.01%
Michael Mayder
5,000CA$17.8k0%no data

Company Information

Maxim Power Corp.'s employee growth, exchange listings and data sources


Key Information

  • Name: Maxim Power Corp.
  • Ticker: MXG
  • Exchange: TSX
  • Founded: 2010
  • Industry: Independent Power Producers and Energy Traders
  • Sector: Utilities
  • Implied Market Cap: CA$177.847m
  • Shares outstanding: 50.10m
  • Website: https://maximpowercorp.com

Number of Employees


Location

  • Maxim Power Corp.
  • 715-5th Avenue SW
  • Suite 1800
  • Calgary
  • Alberta
  • T2P 2X6
  • Canada


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MXGTSX (The Toronto Stock Exchange)YesCommon SharesCACADApr 2005
MXGF.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDApr 2005

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/06 00:00
End of Day Share Price2022/10/06 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.