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Morguard Corporation

Morguard Corporation

MRC.TO
Morguard CorporationCA flagToronto Stock Exchange
121.53
CAD
+3.10
- -
1.30BMarket Cap
Morguard Corporation
MRC.TO
(Toronto Stock Exchange)

Recent

price

121.53

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
26.22
29.06
30.88
39.8
44.03
71.55
76.67
92.98
101.78
103.67
91.78
92.06
101.09
110.6
102.51
103.33
103.34
Revenue per Share
14.42
22.22
30.31
22.58
10.92
6.58
14.46
26.1
27.96
16.57
-8.83
22.5
11.08
6.8
24.23
16.34
17.65
Basic EPS, GAAP
-1.79
8.92
9.21
13.17
11.19
18.05
23.14
25.03
24.96
23.9
18.72
23.85
22.67
27.15
22.85
19.79
22.51
Free Cash Flow per Basic Share
0.59
0.59
0.59
0.6
0.59
0.59
0.59
0.59
0.59
0.59
0.59
0.59
0.6
0.6
0.65
0.8
0.75
Dividend per Share
92.97
127.69
157.32
179.68
189.76
198.12
217.29
243.43
276.1
296.06
286.48
310.98
321.77
332.85
358.38
378.82
371.86
Book Value per Share
100.46
128.76
158.62
183
266.28
281.1
304.17
325.67
364.1
376
344
371.28
391.72
394.76
433.53
442.49
433.79
Tangible Book Value per Share
14
13
13
13
13
12
12
12
11
11
11
11
11
11
11
11
11
Basic Weighted Avg Shares
356
377
397
505
551
876
916
1,105
1,164
1,170
1,028
1,022
1,120
1,206
1,108
1,106
1,110
Sales/Revenue/Turnover
45.8
47.35
45.5
41.58
43.86
47.63
46.7
42.89
41.85
40.88
42.63
41.16
42.31
43.85
45.83
45.6
45.19
Operating Margin (%)
2
2
2
5
5
8
9
31
32
36
35
32
27
23
11
7
9
Depreciation Expense
196
288
389
286
137
81
173
310
320
187
-99
250
123
74
262
175
190
Net Income, GAAP
22.4
21.81
12.37
16.44
32.68
43.2
33.85
13.85
17.31
16.27
- -
37.12
17.13
28.62
19.71
25.59
29.46
Effective Tax Rate (%)
54.99
76.44
98.14
56.74
24.79
9.2
18.87
28.07
27.47
15.98
-9.62
24.44
10.96
6.15
23.63
15.82
17.08
Profit Margin (%)
-157
-183
-336
-541
-421
-507
-888
-919
-1,107
-941
-919
-813
-1,116
-1,411
-977
-1,063
-1,170
Working Capital
1,118
1,212
1,315
1,773
3,305
3,656
3,724
3,986
4,407
4,986
4,854
4,934
4,588
4,034
4,489
4,177
4,238
LT Debt
1,387
1,694
2,062
2,346
3,359
3,482
3,671
3,934
4,229
4,306
3,913
4,174
4,385
4,343
4,719
4,769
4,695
Total Equity
5.61
4.84
4.59
4.11
2.74
3.2
3.51
4.72
4.34
4.02
- -
2.68
3.89
3.71
4.01
3.68
3.52
Return on Invested Capital (%)
11.73
12.18
13.02
6.76
3.51
0.8
1.74
3.28
3.27
1.9
- -
2.51
1.35
0.91
2.89
1.74
3.86
Return on Capital (%)
22.91
19.75
21.18
13.32
5.87
3.36
6.88
11.3
10.57
5.75
-3.02
7.5
3.5
2.06
6.98
4.41
4.86
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
949
1,070
1,178
LT Borrowings
4,319
4,266
4,070
LT Finance Leases
170
169
168
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
11
11
11
Market Capitalization
1,258
1,301
1,217

Working Capital

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
236
263
287
Cash, Cash Equivalents & STI
141
152
164
Accounts Receivable, Net
19
19
35
Inventories
- -
- -
- -
Total Current Liabilities
1,212
1,355
1,457
Payables & Accruals
230
249
245
ST Debt
949
1,070
1,178
Deferred Revenue
26
27
27

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
3.33%
4.1%
1.05%
Free Cash Flow
0.91%
1.62%
-14.24%
Net Income, GAAP
-22.05%
-44.63%
-33.2%
Sales/Revenue/Turnover
2.73%
1.66%
-0.18%
Total Cash Common Dividend
1.83%
5.55%
22.02%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
277
274
271
285
1,108
2025
278
276
278
- -
1,106
2026
270
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
12.06
4.98
0.05
- -
24.23
2025
5.42
5.04
- -
- -
16.34
2026
5.48
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.15
0.15
0.15
- -
0.65
2025
0.2
0.2
- -
- -
0.8
2026
0.2
- -
- -
- -
- -
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Business
Morguard Corporation (TSX:MRC) operates as a fully integrated real estate company that acquires, develops, owns and manages multi-suite residential, retail, office, industrial and hotel properties across Canada and the United States; provides real estate investment advisory and management services, including acquisitions, dispositions, leasing, performance measurement and asset enhancement; and offers portfolio management in publicly traded equities and fixed-income securities to institutional clients and private investors. The company maintains ownership interests in Morguard Real Estate Investment Trust (TSX:MRT.UN) and Morguard North American Residential REIT (TSX:MRG.UN), with a combined owned and managed portfolio valued at $19.0 billion as of September 30, 2025, encompassing approximately 32.4 million square feet. Founded in 1975 and headquartered in Mississauga, Ontario, Morguard operates as a subsidiary of Paros Enterprises Limited and serves diverse tenants through long-standing relationships while pursuing redevelopment and expansion opportunities. In November 2025, Morguard announces a CEO transition appointing Angela Sahi as President and Chief Executive Officer and naming K. Rai Sahi as Executive Chair; completes a $250 million offering of 5.00% Series I senior unsecured debentures in October 2025, generating over $1 billion in demand; launches Smart Building Living Labs in partnership with CENGN and Nokia in October 2025 across Montreal, Toronto and Ottawa to advance Canadian technology innovation; and increases its ownership in Morguard Real Estate Investment Trust to 83.49% through open market purchases and distribution reinvestments between April and July 2025.