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M

Mullen Group MTL.TO · CAD

Industrials · Toronto Stock Exchange · 🇨🇦 Canada

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29.36

+2.16%

Close of 9 Nov 2026, in CAD

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At a glance

Figures in CAD, from our data supplier.

FY2025

Revenue

C$2.13bn

FY2016FY2025

Net income

C$91.1m

FY2016FY2025

Free cash flow

C$158.2m

FY2016FY2025

Shareholders' equity

C$1.14bn

FY2016FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
RevenueC$2.13bnC$1.99bnC$1.99bnC$2.00bnC$1.48bnC$1.16bnC$1.28bnC$1.26bnC$1.14bnC$1.04bn
Gross profitC$493.6mC$472.7mC$473.9mC$459.0mC$308.1mC$266.2mC$257.1mC$270.5mC$240.5mC$237.9m
Operating incomeC$178.2mC$201.3mC$212.3mC$214.4mC$125.1mC$114.2mC$94.7mC$101.5mC$85.6mC$95.7m
Net incomeC$91.1mC$112.3mC$136.7mC$158.6mC$72.4mC$64.0mC$72.2m−C$43.8mC$65.5mC$52.0m
Diluted earnings per share0.691.151.401.550.770.660.69-0.420.630.50

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assetsC$2.57bnC$2.33bnC$2.04bnC$2.00bnC$1.92bnC$1.72bnC$1.75bnC$1.65bnC$1.75bnC$1.87bn
Cash and short-term investmentsC$144.6mC$126.3mC$2.3mC$8.8mC$37.9mC$105.3mC$79.0mC$3.9mC$134.5mC$270.3m
Total liabilitiesC$1.43bnC$1.32bnC$1.07bnC$1.02bnC$1.03bnC$821.5mC$831.4mC$747.8mC$760.9mC$912.6m
DebtC$1.05bnC$997.6mC$764.1mC$712.3mC$745.3mC$607.9mC$616.8mC$512.2mC$540.0mC$695.7m
Shareholders' equityC$1.14bnC$1.02bnC$974.9mC$973.4mC$888.7mC$896.4mC$917.9mC$898.1mC$989.7mC$960.4m
Shares outstanding131m97m98m102m94m97m105m105m104m104m

Cash flow

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash from operationsC$254.0mC$296.1mC$276.7mC$263.0mC$198.0mC$224.8mC$170.7mC$140.7mC$142.1mC$174.3m
Capital spending−C$95.8m−C$71.5m−C$101.6m−C$81.4m−C$68.2m−C$65.2m−C$75.4m−C$102.7m−C$33.1m−C$20.9m
Free cash flowC$158.2mC$224.6mC$175.1mC$181.6mC$129.8mC$159.7mC$95.3mC$38.0mC$109.0mC$153.4m
Dividends paid−C$74.0m−C$66.8m−C$64.8m−C$61.6m−C$45.1m−C$35.5m−C$62.9m−C$60.5m−C$37.3m−C$60.3m

Latest quarters

By quarter end

Jun 2026Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024
RevenueC$609.3mC$547.7mC$533.9mC$561.7mC$540.9mC$497.1mC$499.0mC$532.0m
Gross profitC$149.1mC$119.4mC$118.6mC$138.5mC$128.8mC$107.6mC$113.6mC$132.3m
Operating incomeC$62.8mC$35.7mC$36.9mC$57.0mC$41.1mC$33.8mC$49.5mC$60.3m
Net incomeC$35.9mC$21.0mC$14.6mC$33.2mC$25.6mC$17.7mC$18.8mC$38.4m
Diluted earnings per share0.370.220.110.250.190.130.190.39
Cash from operationsC$73.0mC$26.0mC$59.0mC$99.0mC$77.0mC$39.0mC$111.0mC$66.0m
Capital spending−C$16.0m−C$12.0m−C$30.0m−C$28.0m−C$23.0m−C$13.0m−C$21.0m−C$11.0m
Free cash flowC$57.0mC$14.0mC$29.0mC$71.0mC$54.0mC$26.0mC$90.0mC$55.0m
Total assetsC$2.62bnC$2.59bnC$2.57bnC$2.63bnC$2.58bnC$2.33bnC$2.33bnC$2.57bn
Cash and short-term investmentsC$171.0mC$141.7mC$144.6mC$151.2mC$176.7mC$131.2mC$126.3mC$344.4m
DebtC$844.5mC$840.4mC$1.10bnC$1.19bnC$1.19bnC$995.0mC$997.6mC$1.22bn
Shareholders' equityC$1.17bnC$1.15bnC$1.14bnC$1.03bnC$1.02bnC$1.01bnC$1.02bnC$1.01bn

Financial ratios

Data as of 2 Nov 2026

FY2025FY2024FY2023FY2022FY2021FY2020
Gross margin23.1%23.8%23.8%23.0%20.9%22.9%
Operating margin8.4%10.2%11.0%10.9%8.5%9.8%
Net margin4.3%5.6%6.9%7.9%4.9%5.5%
Return on equity8.0%11.0%14.0%16.3%8.2%7.1%
Return on assets3.5%4.8%6.7%7.9%3.8%3.7%
Free cash flow yield9.2%13.1%13.5%11.7%9.8%10.4%
Revenue growth7.3%-0.3%-0.2%35.3%26.9%-8.9%
Earnings growth-18.8%-17.9%-13.8%119.0%13.2%-11.4%
Current ratio2.17x2.32x0.76x1.64x1.20x3.25x
Debt to equity0.73x0.80x0.71x0.66x0.77x0.65x
Equity ratio44.4%43.6%47.7%48.8%46.2%52.2%
Interest coverage2.93x4.18x5.78x6.13x4.06x3.82x
Buybacks as a share of market value-35.1%0.3%4.5%-8.3%2.7%7.5%

Growth per year

Compound annual rate

3 years5 years10 years
Revenue2.2%12.9%5.8%
Operating income-6.0%9.3%2.8%
Net income-16.9%7.3%21.2%

Average margins

Over each period

1 year3 years5 years10 years
Gross margin23.4%23.4%23.0%22.5%
Operating margin9.2%9.9%9.7%9.3%
Net margin4.9%6.1%5.9%4.8%

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Price to earnings22.712.610.09.415.116.513.4-29.224.939.5
Price to sales1.00.70.70.70.70.90.81.01.42.0

Dividends and splits

Per share, in the currency the company pays

Paid for 26 years. Last went ex-dividend on 29 Sept 2026.

FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Paid in the year0.630.840.820.720.680.480.330.60
  • 3-for-1 split · 7 Jul 2005

Sources and methodology

Data on this tab
Our data supplier
Chart on the Overview
TradingView

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