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Mullen Group

DB:9MU
Snowflake Description

Established dividend payer with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
9MU
DB
CA$1B
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

Mullen Group Ltd. provides transportation and oilfield services in Canada and the United States. The last earnings update was 25 days ago. More info.


Add to Portfolio Compare Print
  • Mullen Group has significant price volatility in the past 3 months.
9MU Share Price and Events
7 Day Returns
-0.7%
DB:9MU
3.6%
Europe Energy Services
-0.2%
DE Market
1 Year Returns
-32.7%
DB:9MU
-25.4%
Europe Energy Services
-10.3%
DE Market
9MU Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Mullen Group (9MU) -0.7% -14.1% -14.6% -32.7% -29.4% -64.7%
Europe Energy Services 3.6% -5% 1.2% -25.4% -25% -83.7%
DE Market -0.2% -2.4% 4.2% -10.3% 11.2% 10.8%
1 Year Return vs Industry and Market
  • 9MU underperformed the Energy Services industry which returned -25.4% over the past year.
  • 9MU underperformed the Market in Germany which returned -10.3% over the past year.
Price Volatility
9MU
Industry
5yr Volatility vs Market

9MU Value

 Is Mullen Group 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 Mullen Group 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 Mullen Group.

DB:9MU Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 10 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.8%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

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 DB:9MU
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Energy Services Unlevered Beta Simply Wall St/ S&P Global 1.02
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.017 (1 + (1- 26.5%) (51.92%))
1.271
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.27
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.271 * 5.96%)
7.81%

Discounted Cash Flow Calculation for DB:9MU using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Mullen Group 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.

DB:9MU DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 7.81%)
2019 84.50 Analyst x4 78.38
2020 91.67 Analyst x6 78.87
2021 116.50 Analyst x2 92.98
2022 119.00 Analyst x1 88.10
2023 125.00 Analyst x1 85.84
2024 129.39 Est @ 3.51% 82.42
2025 132.66 Est @ 2.53% 78.39
2026 135.10 Est @ 1.84% 74.05
2027 136.93 Est @ 1.35% 69.62
2028 138.32 Est @ 1.02% 65.23
Present value of next 10 years cash flows CA$793.90
DB:9MU DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CA$138.32 × (1 + 0.23%) ÷ (7.81% – 0.23%)
CA$1,829.56
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$1,829.56 ÷ (1 + 7.81%)10
CA$862.84
DB:9MU Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$793.90 + CA$862.84
CA$1,656.74
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$1,656.74 / 104.82
CA$15.8
DB:9MU Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:9MU represents 0.66144x of TSX:MTL
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.66144x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (CAD) x Listing Adjustment Factor
= CA$ 15.80 x 0.66144
€10.45
Value per share (EUR) From above. €10.45
Current discount Discount to share price of €6.71
= -1 x (€6.71 - €10.45) / €10.45
35.8%

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

Current Discount
Amount off the current price Mullen Group is available for.
Intrinsic value
36%
Share price is €6.71 vs Future cash flow value of €10.45
Current Discount Checks
For Mullen Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Mullen Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Mullen Group's share price is below the future cash flow value, but not 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 Mullen Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Mullen Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:9MU PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in CAD CA$-0.32
TSX:MTL Share Price ** TSX (2019-05-17) in CAD CA$10.14
Europe Energy Services Industry PE Ratio Median Figure of 27 Publicly-Listed Energy Services Companies 21.98x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 20.17x

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

** Primary Listing of Mullen Group.

DB:9MU PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 10.14 ÷ -0.32

-31.47x

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

  • Mullen Group is loss making, we can't compare its value to the Europe Energy Services industry average.
  • Mullen Group is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Mullen Group's expected growth come at a high price?
Raw Data
DB:9MU PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -31.47x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
49.4%per year
Europe Energy Services Industry PEG Ratio Median Figure of 21 Publicly-Listed Energy Services Companies 1.08x
Germany Market PEG Ratio Median Figure of 273 Publicly-Listed Companies 1.53x

*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 Mullen Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Mullen Group's assets?
Raw Data
DB:9MU PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in CAD CA$8.53
TSX:MTL Share Price * TSX (2019-05-17) in CAD CA$10.14
Europe Energy Services Industry PB Ratio Median Figure of 62 Publicly-Listed Energy Services Companies 0.95x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.77x
DB:9MU PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 10.14 ÷ 8.53

1.19x

* Primary Listing of Mullen Group.

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

  • Mullen Group is overvalued based on assets compared to the Europe Energy Services industry average.
X
Value checks
We assess Mullen Group'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 Energy Services 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 Energy Services industry average (and greater than 0)? (1 check)
  5. Mullen Group has a total score of 1/6, 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.

9MU Future Performance

 How is Mullen Group expected to perform in the next 1 to 3 years based on estimates from 10 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
49.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Mullen Group expected to grow at an attractive rate?
  • Mullen Group's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Mullen Group's earnings growth is expected to exceed the Germany market average.
  • Mullen Group's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:9MU Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:9MU Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 49.4%
DB:9MU Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts 5.8%
Europe Energy Services Industry Earnings Growth Rate Market Cap Weighted Average 31.2%
Europe Energy Services Industry Revenue Growth Rate Market Cap Weighted Average 8.5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 13.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*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
DB:9MU Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:9MU Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 1,619 1
2022-12-31 1,561 1
2021-12-31 1,547 203 100 2
2020-12-31 1,388 177 64 10
2019-12-31 1,309 149 56 10
DB:9MU Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-03-31 1,288 143 -34
2018-12-31 1,261 141 -44
2018-09-30 1,224 143 43
2018-06-30 1,168 160 47
2018-03-31 1,146 160 52
2017-12-31 1,138 142 66
2017-09-30 1,100 130 60
2017-06-30 1,075 131 51
2017-03-31 1,048 144 45
2016-12-31 1,035 174 52
2016-09-30 1,065 193 55
2016-06-30 1,111 190 45

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Mullen Group's earnings are expected to grow significantly at over 20% yearly.
  • Mullen Group's revenue is expected to grow by 5.8% 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
DB:9MU Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below

All data from Mullen Group Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:9MU Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.96 0.96 0.96 1.00
2020-12-31 0.61 0.74 0.45 5.00
2019-12-31 0.52 0.56 0.43 5.00
DB:9MU Past Financials Data
Date (Data in CAD Millions) EPS *
2019-03-31 -0.32
2018-12-31 -0.42
2018-09-30 0.41
2018-06-30 0.45
2018-03-31 0.51
2017-12-31 0.63
2017-09-30 0.57
2017-06-30 0.49
2017-03-31 0.44
2016-12-31 0.52
2016-09-30 0.57
2016-06-30 0.48

*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.
  • Mullen Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Mullen Group'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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
Mullen Group has a total score of 4/6, 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.

9MU Past Performance

  How has Mullen Group 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 Mullen Group's growth in the last year to its industry (Energy Services).
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.
  • Mullen Group does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Mullen Group's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Mullen Group's 1-year growth to the Europe Energy Services industry average as it is not currently profitable.
Earnings and Revenue History
Mullen Group'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 Mullen Group Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:9MU 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 1,288.23 -33.69 171.29
2018-12-31 1,260.80 -43.79 168.97
2018-09-30 1,223.60 42.66 162.73
2018-06-30 1,167.76 46.74 159.72
2018-03-31 1,145.73 52.44 157.92
2017-12-31 1,138.49 65.51 154.95
2017-09-30 1,100.11 59.53 147.24
2017-06-30 1,074.95 51.05 137.11
2017-03-31 1,048.21 45.21 134.11
2016-12-31 1,035.06 52.04 142.18
2016-09-30 1,065.04 55.02 146.75
2016-06-30 1,111.01 44.81 147.91
2016-03-31 1,148.86 31.93 153.64
2015-12-31 1,214.37 13.37 140.93
2015-09-30 1,271.85 33.28 145.02
2015-06-30 1,324.49 36.40 151.44
2015-03-31 1,353.06 61.13 148.50
2014-12-31 1,427.85 94.63 157.95
2014-09-30 1,450.08 92.71 158.09
2014-06-30 1,466.70 133.45 159.40
2014-03-31 1,463.73 135.24 155.32
2013-12-31 1,437.17 143.30 153.10
2013-09-30 1,415.94 144.71 150.59
2013-06-30 1,377.37 136.51 148.15
2013-03-31 1,387.16 116.51 148.47
2012-12-31 1,427.64 130.91 150.30
2012-09-30 1,475.54 156.63 153.98
2012-06-30 1,499.86 124.98 153.01

*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.
  • It is difficult to establish if Mullen Group has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Mullen Group has efficiently used its assets last year compared to the Europe Energy Services industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Mullen Group improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Mullen Group'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 Energy Services 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.
Mullen Group has a total score of 0/6, 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.

9MU Health

 How is Mullen Group'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 Mullen Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Mullen Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Mullen Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Mullen Group'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 not covered by short term assets, assets are 0.5x 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 Mullen Group Company Filings, last reported 1 month ago.

DB:9MU Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 894.28 551.91 2.54
2018-12-31 898.08 512.19 3.92
2018-09-30 994.50 490.23 1.05
2018-06-30 985.51 473.34 22.73
2018-03-31 976.17 547.57 123.96
2017-12-31 989.73 539.97 134.53
2017-09-30 993.27 538.96 123.65
2017-06-30 976.35 680.99 250.04
2017-03-31 965.85 691.41 242.71
2016-12-31 960.41 695.70 270.29
2016-09-30 970.08 686.05 261.26
2016-06-30 961.70 679.30 236.20
2016-03-31 806.35 717.63 105.15
2015-12-31 806.64 780.90 147.24
2015-09-30 831.45 764.53 140.58
2015-06-30 851.18 737.90 138.32
2015-03-31 877.23 743.98 137.94
2014-12-31 900.94 704.99 325.37
2014-09-30 905.85 453.79 82.18
2014-06-30 922.24 422.24 90.56
2014-03-31 917.06 432.93 56.42
2013-12-31 900.11 425.56 58.24
2013-09-30 902.30 417.99 50.14
2013-06-30 874.29 424.34 58.82
2013-03-31 867.65 421.17 87.57
2012-12-31 827.13 434.06 122.77
2012-09-30 821.43 433.67 102.48
2012-06-30 734.32 504.14 87.61
  • Mullen Group's level of debt (61.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (47.2% vs 61.7% today).
  • Debt is well covered by operating cash flow (25.9%, greater than 20% of total debt).
  • Mullen Group is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Mullen Group'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. Mullen Group has a total score of 2/6, 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.

9MU Dividends

 What is Mullen Group'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
5.92%
Current annual income from Mullen Group dividends. Estimated to be 5.89% next year.
If you bought €2,000 of Mullen Group shares you are expected to receive €118 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?
  • Mullen Group's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.45%).
  • Mullen Group's dividend is above the markets top 25% of dividend payers in Germany (3.81%).
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
DB:9MU 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 10 Analyst Estimates (S&P Global) See Below
Europe Energy Services Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 3.5%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

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

DB:9MU Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.60 1.00
2022-12-31 0.56 1.00
2021-12-31 0.60 1.00
2020-12-31 0.60 5.00
2019-12-31 0.60 6.00
DB:9MU Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2019-04-22 0.600 5.790
2019-03-20 0.600 4.944
2019-02-21 0.600 4.872
2019-01-22 0.600 4.998
2018-12-19 0.600 4.880
2018-11-21 0.600 4.863
2018-10-22 0.600 4.350
2018-09-20 0.600 3.932
2018-08-22 0.600 3.844
2018-07-20 0.600 3.718
2018-06-20 0.600 3.838
2018-05-22 0.600 4.071
2018-04-20 0.600 4.028
2018-03-20 0.600 3.994
2018-02-20 0.600 4.073
2018-01-22 0.600 4.049
2017-12-18 0.360 2.327
2017-11-22 0.360 2.383
2017-10-20 0.360 2.226
2017-09-20 0.360 2.132
2017-08-22 0.360 2.291
2017-07-20 0.360 2.307
2017-06-20 0.360 2.297
2017-05-18 0.360 2.374
2017-04-18 0.360 2.375
2017-03-21 0.360 2.155
2017-02-17 0.360 2.159
2017-01-20 0.360 1.985
2016-12-19 0.360 1.831
2016-11-21 0.360 1.888
2016-10-18 0.360 1.951
2016-09-20 0.360 2.202
2016-08-22 0.360 2.241
2016-07-18 0.360 2.281
2016-06-20 0.360 2.511
2016-05-19 0.360 2.487
2016-04-19 0.960 6.700
2016-03-21 0.960 6.809
2016-02-17 0.960 6.535
2016-01-19 0.960 6.767
2015-12-15 1.200 8.678
2015-11-18 1.200 7.899
2015-09-18 1.200 6.750
2015-08-18 1.200 6.699
2015-07-20 1.200 6.341
2015-06-19 1.200 6.039
2015-05-19 1.200 5.774
2015-04-20 1.200 5.765
2015-03-19 1.200 5.677
2015-02-17 1.200 5.907
2015-01-20 1.200 5.807
2014-12-17 1.200 5.997
2014-11-17 1.200 5.561
2014-10-15 1.200 5.429
2014-09-17 1.200 4.827
2014-08-18 1.200 4.298
2014-07-15 1.200 4.182
2014-06-16 1.200 3.924
2014-05-20 1.200 4.103
2014-04-15 1.200 4.108
2014-03-18 1.200 4.317
2014-02-18 1.200 4.455
2014-01-20 1.200 4.371
2013-12-16 1.200 4.256
2013-11-20 1.200 4.277
2013-10-16 1.200 4.351
2013-09-17 1.200 4.740
2013-08-16 1.200 4.783
2013-07-16 1.200 4.903
2013-06-17 1.200 5.206
2013-05-16 1.200 5.591
2013-04-18 1.200 5.693
2013-03-18 1.200 5.593
2013-02-15 1.200 5.450
2013-01-15 1.200 5.190
2012-12-17 1.000 4.690
2012-09-17 1.000 4.606
2012-06-15 1.000 4.475
2012-03-13 1.000 4.751
2011-12-15 1.000 4.980
2011-09-16 1.000 5.072
2011-06-17 1.000 4.855
2011-03-08 1.000 4.846
2010-12-16 0.500 2.623
2010-09-17 0.500 3.276
2010-06-17 0.500 3.494
2010-03-18 0.500 3.318
2009-12-16 0.500 3.124
2009-09-11 0.500 3.215
2009-07-30 0.000 0.000

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 Mullen Group's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.6x coverage).
X
Income/ dividend checks
We assess Mullen Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 Mullen Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Mullen Group has a total score of 5/6, see the detailed checks below.


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

9MU Management

 What is the CEO of Mullen Group'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
Murray Mullen
COMPENSATION CA$570,000
AGE 62
CEO Bio

Mr. Murray K. Mullen serves as the President of Mullen Trucking Corp. Mr. Mullen has been the Chief Executive Officer and President of Mullen Group Ltd. (Formerly, Mullen Group Income Fund, Mullen Transportation Inc.) since June 30, 2014 and served as its Co-Chief Executive Officer from 2001 to June 30, 2014. He has been an Executive Director of Mullen Group Ltd. since 1986. He served in various capacities with Mullen, including the position of President and Chief Executive Officer, positions that he held from 1991 to September 2004. He has over 35 years of valuable oil and gas experience. He has been an Executive Chairman of Mullen Group Inc., since 2001. Mr. Mullen has been the Chairman at Mullen Group Ltd. (formerly Mullen Group Income Fund) since 2001. He served as the Chairman of Producers Oilfield Services Inc. (formerly, Moveitonline Inc.). He serves as a Director of the Truckload Carriers Conference and Alberta Shock Trauma Air Rescue Society. He serves as a Director of Apex Limited Partnership (formerly Apex Corp.), and Producers OilÑeld Services. He has been a Director of Gienow Management Inc. and Trustee of Gienow Windows & Doors Income Fund since October 19, 2004. He served as a Director of Whitecap Resources Inc. from August 07, 2012 to April 30, 2015. He served as an Independent Director of Western Energy Services Corp. from December 22, 2009 to December 1, 2013 and as its Lead Director until December 1, 2013. He served as a Director of Shawcor Ltd. from August 2003 to May 12, 2011; Precision Drilling Corporation (formerly Precision Drilling Trust) from September 1996 to October 15, 2004 and Producers Oilfield Services Inc. since June 1, 2001. He is active in a number of professional and community organizations and has served transportation industry associations in Canada and the U.S. Mr. Mullen holds a Bachelor of Arts Degree in Economics from the University of Calgary.

CEO Compensation
  • Murray's compensation has been consistent with company performance over the past year.
  • Murray's remuneration is lower than average for companies of similar size in Germany.
Management Team

Murray Mullen

TITLE
Chairman
COMPENSATION
CA$570K
AGE
62

P. Clark

TITLE
Chief Financial Officer
COMPENSATION
CA$552K
TENURE
8.8 yrs

Richard Maloney

TITLE
Senior Vice President
COMPENSATION
CA$509K

Carson Urlacher

TITLE
Corporate Controller
COMPENSATION
CA$309K

Joanna Scott

TITLE
Corporate Secretary & VP of Corporate Services
COMPENSATION
CA$378K
Board of Directors Tenure

Average tenure and age of the Mullen Group board of directors in years:

11.8
Average Tenure
62
Average Age
  • The average tenure for the Mullen Group board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Phil Scherman

TITLE
Independent Director
COMPENSATION
CA$75K
AGE
67
TENURE
4.6 yrs

Murray Mullen

TITLE
Chairman
COMPENSATION
CA$570K
AGE
62
TENURE
18.3 yrs

Sonia Tibbatts

TITLE
Lead Independent Director
COMPENSATION
CA$63K
AGE
63

Dave Mullen

TITLE
Non Independent Director
COMPENSATION
CA$50K
AGE
57
TENURE
9.3 yrs

Steve Lockwood

TITLE
Independent Director
COMPENSATION
CA$50K
AGE
62
TENURE
14.3 yrs

Greg Bay

TITLE
Independent Director
COMPENSATION
CA$70K
AGE
59
TENURE
14.3 yrs

Christine McGinley

TITLE
Independent Director
COMPENSATION
CA$63K
AGE
59
TENURE
2 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Mullen Group insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
13. May 19 Buy Carson Urlacher Individual 09. May 19 09. May 19 4,000 €6.76 €27,047
08. May 19 Buy Christine McGinley Individual 08. May 19 08. May 19 474 €6.61 €3,131
07. May 19 Buy Richard Maloney Individual 07. May 19 07. May 19 1,000 €6.40 €6,398
06. May 19 Buy Richard Maloney Individual 03. May 19 03. May 19 500 €6.42 €3,208
11. Mar 19 Buy Richard Maloney Individual 08. Mar 19 08. Mar 19 700 €7.84 €5,478
15. Feb 19 Buy Christine McGinley Individual 15. Feb 19 15. Feb 19 1,643 €8.04 €13,204
26. Dec 18 Buy P. Clark Individual 24. Dec 18 24. Dec 18 31,250 €7.71 €240,913
20. Nov 18 Sell Golconda Resources Ltd. Company 19. Nov 18 19. Nov 18 -150,000 €8.74 €-1,311,617
30. Oct 18 Buy Philip Scherman Individual 29. Oct 18 29. Oct 18 3,300 €9.02 €29,752
30. Oct 18 Buy Richard Maloney Individual 29. Oct 18 29. Oct 18 660 €9.15 €6,038
29. Oct 18 Buy Christine McGinley Individual 29. Oct 18 29. Oct 18 1,601 €9.26 €14,760
20. Sep 18 Sell David Mullen Individual 20. Sep 18 20. Sep 18 -700,000 €9.88 €-6,916,031
06. Sep 18 Buy Christine McGinley Individual 06. Sep 18 06. Sep 18 852 €9.97 €8,491
11. Jun 18 Buy Christine McGinley Individual 11. Jun 18 11. Jun 18 1,930 €9.78 €18,878
X
Management checks
We assess Mullen Group'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. Mullen Group 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.

9MU News

Simply Wall St News

9MU Company Info

Description

Mullen Group Ltd. provides transportation and oilfield services in Canada and the United States. It operates in two segments, Trucking/Logistics and Oilfield Services. The Trucking/Logistics segment transports general freight; cables, and pipe and steel products; and dry bulk commodities comprising cement and frac sand, as well as over-dimensional loads, such as heavy equipment, compressors and over-sized goods. This segment also offers various services, including logistics, warehousing and distribution, transload, and intermodal services; and production, excavation, and transportation of various aggregate products. The Oilfield Services segment provides well-servicing, specialized transportation, dewatering, and drilling services to the oil and natural gas industry. Its services include transporting of oversize and overweight shipments; transportation, handling, storage, and computerized inventory management of oilfield fluids, tubulars, and drilling mud; stockpiling and stringing of large diameter pipes; and a range of services related to the processing and production of heavy oil, including well servicing and handling, transportation of fluids, and processing and disposal of oilfield waste, as well as frac support, dredging, water management, dewatering, pond reclamation, hydrovac excavation, drilling rig relocation, core drilling, casing setting, and conductor pipe setting services. Mullen Group Ltd. was founded in 1949 and is based in Okotoks, Canada.

Details
Name: Mullen Group Ltd.
9MU
Exchange: DB
Founded: 1949
CA$707,595,437
104,824,973
Website: http://www.mullen-group.com
Address: Mullen Group Ltd.
Chimney Rock Centre,
121A, 31 Southridge Drive,
Okotoks,
Alberta, T1S 2N3,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX MTL New Common Shares The Toronto Stock Exchange CA CAD 14. Dec 1993
OTCPK MLLG.F New Common Shares Pink Sheets LLC US USD 14. Dec 1993
DB 9MU New Common Shares Deutsche Boerse AG DE EUR 14. Dec 1993
Number of employees
Current staff
Staff numbers
6,435
Mullen Group employees.
Industry
Oil and Gas Equipment and Services
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/19 21:59
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/08
Last earnings filing: 2019/04/24
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.