Morguard Corp (TSX:MRC)

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Price: 116.75 CAD 0.84%

Market Cap: 1.3B CAD

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Section:

Relative Value

The Relative Value of one MRC stock under the Base Case scenario is 532.23 CAD. Compared to the current market price of 116.75 CAD, Morguard Corp is Undervalued by 78%.

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.

What is Relative Valuation?

How is Relative Value calculated?

MRC Relative Value

Base Case

Worst Case

Base Case

Best Case

Valuation Multiples

1.1

P/S

vs History	63
vs Industry	73

Median 5Y

1.1

Industry

3.7

Forward

1.1

More Details

6.4

P/E

vs History	36
vs Industry	51

Median 5Y

Industry

16.6

Forward

4.1

More Details

4.9

P/OCF

vs History	53
vs Industry	56

Median 5Y

Industry

11.2

More Details

Negative

P/FCFE

vs History
vs Industry	36

Median 5Y

3.1

Industry

13.3

More Details

0.3

P/B

vs History	65
vs Industry	77

Median 5Y

0.3

Industry

0.9

More Details

4.9

EV/S

vs History	84
vs Industry	53

Median 5Y

5.7

Industry

6.7

Forward

5.1

More Details

8.1

EV/GP

vs History	76
vs Industry	60

Median 5Y

8.4

Industry

More Details

10.3

EV/EBITDA

vs History	84
vs Industry	55

Median 5Y

12.3

Industry

Forward

10.8

More Details

10.3

EV/EBIT

vs History	84
vs Industry	56

Median 5Y

12.3

Industry

19.2

More Details

22.1

EV/OCF

vs History	66
vs Industry	34

Median 5Y

25.2

Industry

18.6

More Details

22.1

EV/FCFF

vs History	66
vs Industry	32

Median 5Y

25.2

Industry

More Details

0.5

EV/IC

vs History	87
vs Industry	63

Median 5Y

0.6

Industry

0.7

More Details

Multiples Across Competitors

All Multiples

P/S

P/E

EV/EBITDA

EV/EBIT

Forward Multiples

			Market Cap	P/S	P/E	EV/EBITDA	EV/EBIT
CA		Morguard Corp TSX:MRC	1.3B CAD	1.1	6.4	10.3	10.3
DE		Vonovia SE XETRA:VNA	24.8B EUR	51.4	-8.7	-35.7	-32
PH	S	SM Prime Holdings Inc XPHS:SMPH	793.5B PHP	6	18.6	13.7	16.8
HK	S	Swire Properties Ltd HKEX:1972	93.2B HKD	6.4	42.2	15.1	15.1
SG		Capitaland Investment Ltd SGX:9CI	14.2B SGD	5.1	78.6	23.8	27.9
BM		Hongkong Land Holdings Ltd SGX:H78	10.3B USD	4.8	-9.5	23.8	24.3
DE		Deutsche Wohnen SE XETRA:DWNI	9.5B EUR	7.9	-38.4	16.5	23.8
SE	S	Sagax AB STO:SAGA A	109.2B SEK	22.7	28.6	35.4	35.4
CN		Zhejiang China Commodities City Group Co Ltd SSE:600415	68.7B CNY	4.9	25.5	23	23
IL		Azrieli Group Ltd TASE:AZRG	34.3B ILS	11.3	16.7	17.6	18.1
SE		Fastighets AB Balder STO:BALD B	94.6B SEK	7.5	-19.4	35	35.5

				Revenue Growth
CA		Morguard Corp TSX:MRC	Average P/S: 11.7 1.1	-6%
DE		Vonovia SE XETRA:VNA	51.4	N/A
PH	S	SM Prime Holdings Inc XPHS:SMPH	6	31%
HK	S	Swire Properties Ltd HKEX:1972	6.4	17%
SG		Capitaland Investment Ltd SGX:9CI	5.1	9%
BM		Hongkong Land Holdings Ltd SGX:H78	4.8	7%
DE		Deutsche Wohnen SE XETRA:DWNI	7.9	16%
SE	S	Sagax AB STO:SAGA A	22.7	40%
CN		Zhejiang China Commodities City Group Co Ltd SSE:600415	4.9	81%
IL		Azrieli Group Ltd TASE:AZRG	11.3	-6%
SE		Fastighets AB Balder STO:BALD B	7.5	16%

				Earnings Growth
CA		Morguard Corp TSX:MRC	Average P/E: 30.9 6.4	166%
DE		Vonovia SE XETRA:VNA	Negative Multiple: -8.7	N/A
PH	S	SM Prime Holdings Inc XPHS:SMPH	18.6	35%
HK	S	Swire Properties Ltd HKEX:1972	42.2	226%
SG		Capitaland Investment Ltd SGX:9CI	78.6	375%
BM		Hongkong Land Holdings Ltd SGX:H78	Negative Multiple: -9.5	N/A
DE		Deutsche Wohnen SE XETRA:DWNI	Negative Multiple: -38.4	N/A
SE	S	Sagax AB STO:SAGA A	28.6	N/A
CN		Zhejiang China Commodities City Group Co Ltd SSE:600415	25.5	59%
IL		Azrieli Group Ltd TASE:AZRG	16.7	-36%
SE		Fastighets AB Balder STO:BALD B	Negative Multiple: -19.4	N/A

				EBITDA Growth
CA		Morguard Corp TSX:MRC	Average EV/EBITDA: 21.4 10.3	-5%
DE		Vonovia SE XETRA:VNA	Negative Multiple: -35.7	N/A
PH	S	SM Prime Holdings Inc XPHS:SMPH	13.7	32%
HK	S	Swire Properties Ltd HKEX:1972	15.1	27%
SG		Capitaland Investment Ltd SGX:9CI	23.8	74%
BM		Hongkong Land Holdings Ltd SGX:H78	23.8	7%
DE		Deutsche Wohnen SE XETRA:DWNI	16.5	21%
SE	S	Sagax AB STO:SAGA A	35.4	55%
CN		Zhejiang China Commodities City Group Co Ltd SSE:600415	23	202%
IL		Azrieli Group Ltd TASE:AZRG	17.6	39%
SE		Fastighets AB Balder STO:BALD B	35	82%

				EBIT Growth
CA		Morguard Corp TSX:MRC	Average EV/EBIT: 23 10.3	N/A
DE		Vonovia SE XETRA:VNA	Negative Multiple: -32	N/A
PH	S	SM Prime Holdings Inc XPHS:SMPH	16.8	34%
HK	S	Swire Properties Ltd HKEX:1972	15.1	28%
SG		Capitaland Investment Ltd SGX:9CI	27.9	115%
BM		Hongkong Land Holdings Ltd SGX:H78	24.3	0%
DE		Deutsche Wohnen SE XETRA:DWNI	23.8	313%
SE	S	Sagax AB STO:SAGA A	35.4	72%
CN		Zhejiang China Commodities City Group Co Ltd SSE:600415	23	149%
IL		Azrieli Group Ltd TASE:AZRG	18.1	44%
SE		Fastighets AB Balder STO:BALD B	35.5	99%

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Morguard Corp
TSX:MRC

Relative Value

Valuation Multiples

Multiples Across Competitors

MRC Competitors Multiples
Morguard Corp Competitors

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Company

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52 Week Range	103 127.89
Price Target

Morguard Corp TSX:MRC

Relative Value

Valuation Multiples

Multiples Across Competitors

MRC Competitors Multiples Morguard Corp Competitors

See Also

Company

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Morguard Corp
TSX:MRC

MRC Competitors Multiples
Morguard Corp Competitors