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Relative Value

The Relative Value of one MDA stock under the Base Case scenario is 32.93 CAD. Compared to the current market price of 28.97 CAD, MDA Ltd is Undervalued by 12%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

MDA Relative Value
Base Case
32.93 CAD
Undervaluation 12%
Relative Value
Price
Worst Case
Base Case
Best Case

Valuation Multiples

vs History
15
vs Industry
58
Median 3Y
1.8
Median 5Y
1.9
Industry
3.6
Forward
3.3
vs History
22
vs Industry
31
Median 3Y
36
Median 5Y
31.8
Industry
33
Forward
44.8
vs History
80
vs Industry
4
Median 3Y
14.4
Median 5Y
14.7
Industry
21.4
vs History
26
vs Industry
Median 3Y
-2.5
Median 5Y
-2.5
Industry
28.1
vs History
4
vs Industry
69
Median 3Y
1.2
Median 5Y
1.3
Industry
3.3
vs History
15
vs Industry
46
Median 3Y
2.3
Median 5Y
2.4
Industry
3.6
Forward
3.5
vs History
11
vs Industry
54
Median 3Y
6.8
Median 5Y
7.1
Industry
12.3
vs History
15
vs Industry
42
Median 3Y
10.9
Median 5Y
11.9
Industry
19.6
Forward
17.6
vs History
6
vs Industry
23
Median 3Y
25.9
Median 5Y
21
Industry
25.9
Forward
32.8
vs History
84
vs Industry
3
Median 3Y
17
Median 5Y
17.1
Industry
22.8
vs History
11
vs Industry
Median 3Y
-11.6
Median 5Y
-10.7
Industry
32.7
vs History
4
vs Industry
71
Median 3Y
0.9
Median 5Y
1
Industry
2.4

Multiples Across Competitors

MDA Competitors Multiples
MDA Ltd Competitors

All Multiples
P/S
P/E
EV/EBITDA
EV/EBIT
All Countries
Close
Market Cap P/S P/E EV/EBITDA EV/EBIT
CA
MDA Ltd
TSX:MDA
3.5B CAD 3.7 51 21.3 43
US
Raytheon Technologies Corp
NYSE:RTX
155.5B USD 2 33 17.9 30.3
US
RTX Corp
LSE:0R2N
154.9B USD 2 32.8 17.9 30.2
US
Boeing Co
NYSE:BA
134B USD 1.8 -16.8 -36 -26.3
NL
Airbus SE
PAR:AIR
121.5B EUR 1.8 37.2 18 28.5
US
Lockheed Martin Corp
NYSE:LMT
115.2B USD 1.6 17.3 12.7 14.9
FR
Safran SA
PAR:SAF
88.2B EUR 3.4 53.8 17.2 23.6
US
TransDigm Group Inc
NYSE:TDG
73.2B USD 9.2 49.4 23.9 26
US
General Dynamics Corp
NYSE:GD
73.1B USD 1.6 20.1 14.2 16.8
US
Northrop Grumman Corp
NYSE:NOC
68.7B USD 1.7 28.9 18.9 27.7
UK
Rolls-Royce Holdings PLC
LSE:RR
49B GBP 2.7 21 14.8 18.8
P/E Multiple
Earnings Growth P/E to Growth
CA
MDA Ltd
TSX:MDA
Average P/E: 34.5
51
200%
0.3
US
Raytheon Technologies Corp
NYSE:RTX
33
188%
0.2
US
RTX Corp
LSE:0R2N
32.8
188%
0.2
US
Boeing Co
NYSE:BA
Negative Multiple: -16.8 N/A N/A
NL
Airbus SE
PAR:AIR
37.2
82%
0.5
US
Lockheed Martin Corp
NYSE:LMT
17.3
3%
6.1
FR
Safran SA
PAR:SAF
53.8
24%
2.3
US
TransDigm Group Inc
NYSE:TDG
49.4
88%
0.6
US
General Dynamics Corp
NYSE:GD
20.1
50%
0.4
US
Northrop Grumman Corp
NYSE:NOC
28.9
112%
0.3
UK
Rolls-Royce Holdings PLC
LSE:RR
21
-12%
N/A
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
CA
MDA Ltd
TSX:MDA
Average EV/EBITDA: 17.7
21.3
117%
0.2
US
Raytheon Technologies Corp
NYSE:RTX
17.9
98%
0.2
US
RTX Corp
LSE:0R2N
17.9
98%
0.2
US
Boeing Co
NYSE:BA
Negative Multiple: -36
853%
N/A
NL
Airbus SE
PAR:AIR
18
78%
0.2
US
Lockheed Martin Corp
NYSE:LMT
12.7
8%
1.5
FR
Safran SA
PAR:SAF
17.2
54%
0.3
US
TransDigm Group Inc
NYSE:TDG
23.9
46%
0.5
US
General Dynamics Corp
NYSE:GD
14.2
38%
0.4
US
Northrop Grumman Corp
NYSE:NOC
18.9
66%
0.3
UK
Rolls-Royce Holdings PLC
LSE:RR
14.8
40%
0.4
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
CA
MDA Ltd
TSX:MDA
Average EV/EBIT: 26
43
184%
0.2
US
Raytheon Technologies Corp
NYSE:RTX
30.3
242%
0.1
US
RTX Corp
LSE:0R2N
30.2
242%
0.1
US
Boeing Co
NYSE:BA
Negative Multiple: -26.3 N/A N/A
NL
Airbus SE
PAR:AIR
28.5
106%
0.3
US
Lockheed Martin Corp
NYSE:LMT
14.9
8%
1.8
FR
Safran SA
PAR:SAF
23.6
76%
0.3
US
TransDigm Group Inc
NYSE:TDG
26
45%
0.6
US
General Dynamics Corp
NYSE:GD
16.8
45%
0.4
US
Northrop Grumman Corp
NYSE:NOC
27.7
98%
0.3
UK
Rolls-Royce Holdings PLC
LSE:RR
18.8
64%
0.3

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