MTL Stock Analysis: Mullen | TO
Trucking | TO, Canada | Market Cap: 3.107m CAD | 12M Return: 120.5% | CA6252841045 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 9.43M
EPS Trend: -67.3%
Qual. Beats: 2
Rev. Trend: 89.3%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 11.8 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Mullen Group Ltd. is a Canadian trucking and logistics company serving customers in Canada and the United States. Its operations span less-than-truckload freight, logistics and warehousing, specialized industrial services, and U.S. and international logistics.
Its services include freight transportation, warehousing and fulfillment, and equipment and field services for industries such as oil and gas, construction, and utilities. Less-than-truckload carriers combine smaller shipments from multiple customers, while warehousing and fulfillment support storage and order handling across supply chains.
- Canadian freight demand and pricing drive LTL revenue and margins
- Oilfield activity lifts Specialized & Industrial Services demand
- U.S. freight weakness and acquisitions shape logistics growth and returns
| Net Income: 104.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.07 > 0.02 and ΔFCF/TA -2.17 > 1.0 |
| NWC/Revenue: 15.01% < 20% (prev 6.43%; Δ 8.58% < -1%) |
| CFO/TA 0.10 > 3% & CFO 259.2m > Net Income 104.8m |
| Net Debt (1.12b) to EBITDA (348.4m): 3.22 < 3 |
| Current Ratio: 2.17 > 1.5 & < 3 |
| Outstanding Shares: last quarter (97.2m) vs 12m ago 0.49% < -2% |
| Gross Margin: 23.34% > 18% (prev 23.31%; Δ 0.03% > 0.5%) |
| Asset Turnover: 86.65% > 50% (prev 80.24%; Δ 6.41% > 0%) |
| Interest Coverage Ratio: 3.43 > 6 (EBIT TTM 195.8m / Interest Expense TTM 57.1m) |
| A: 0.13 (Total Current Assets 626.3m - Total Current Liabilities 288.3m) / Total Assets 2.62b |
| B: 0.08 (Retained Earnings 214.4m / Total Assets 2.62b) |
| C: 0.08 (EBIT TTM 195.8m / Avg Total Assets 2.60b) |
| D: 0.80 (Book Value of Equity 1.17b / Total Liabilities 1.45b) |
| Altman-Z'' = 2.46 = A |
| DSRI: 1.01 (Receivables 377.5m/342.7m, Revenue 2.25b/2.07b) |
| GMI: 1.00 (GM 23.31% / 23.34%) |
| AQI: 0.96 (AQ_t 0.27 / AQ_t-1 0.28) |
| SGI: 1.09 (Revenue 2.25b / 2.07b) |
| TATA: -0.06 (NI 104.8m - CFO 259.2m) / TA 2.62b) |
| Beneish M = -2.99 (Cap -4..+1) = A |
As of October 30, 2026, the stock is trading at CAD 29.86 with a total of 278,055 shares traded. Over the past week, the price has changed by -7.50%, over one month by +9.66%, over three months by +8.07% and over the past year by +120.48%.
Current recommended Stop Loss: 27.40 (which is 8.2% or 2.2 ATR below the current price).
Mullen has no consensus analysts rating.
P/E Trailing = 29.3455
P/E Forward = 17.2117
P/S = 1.3791
P/B = 2.1895
P/EG = 2.2856
Revenue TTM = 2.25b CAD
EBIT TTM = 195.8m CAD
EBITDA TTM = 348.4m CAD
Long Term Debt = 798.5m CAD (from longTermDebt, last quarter)
Short Term Debt = 46.1m CAD (from shortTermDebt, last quarter)
Debt = 1.29b CAD (from shortLongTermDebtTotal, last quarter) + Leases 247.9m
Net Debt = 1.12b CAD (calculated: Debt 1.29b - CCE 171.0m)
Enterprise Value = 4.23b CAD (3.11b + Debt 1.29b - CCE 171.0m)
Interest Coverage Ratio = 3.43 (Ebit TTM 195.8m / Interest Expense TTM 57.1m)
EV/FCF = 24.64x (Enterprise Value 4.23b / FCF TTM 171.7m)
FCF Yield = 4.06% (FCF TTM 171.7m / Enterprise Value 4.23b)
FCF Margin = 7.62% (FCF TTM 171.7m / Revenue TTM 2.25b)
Net Margin = 4.65% (Net Income TTM 104.8m / Revenue TTM 2.25b)
Gross Margin = 23.34% ((Revenue TTM 2.25b - Cost of Revenue TTM 1.73b) / Revenue TTM)
Gross Margin QoQ = 24.48% (prev 21.80%)
Tobins Q-Ratio = 1.61 (Enterprise Value 4.23b / Total Assets 2.62b)
Interest Expense / Debt = 4.41% (Interest Expense 57.1m / Debt 1.29b)
Taxrate = 24.99% (34.9m / 139.7m)
NOPAT = 146.9m (EBIT 195.8m * (1 - 24.99%))
Current Ratio = 2.17 (Total Current Assets 626.3m / Total Current Liabilities 288.3m)
Debt / Equity = 1.11 (Debt 1.29b / totalStockholderEquity, last quarter 1.17b)
Debt / EBITDA = 3.22 (Net Debt 1.12b / EBITDA 348.4m)
Debt / FCF = 6.54 (Net Debt 1.12b / FCF TTM 171.7m)
Total Stockholder Equity = 1.12b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.03% (Net Income 104.8m / Total Assets 2.62b)
RoE = 9.35% (Net Income TTM 104.8m / Total Stockholder Equity 1.12b)
RoCE = 10.20% (EBIT 195.8m / Capital Employed (Equity 1.12b + L.T.Debt 798.5m))
RoIC = 6.48% (NOPAT 146.9m / Invested Capital 2.27b)
WACC = 5.60% (E(3.11b)/V(4.40b) * Re(6.55%) + D(1.29b)/V(4.40b) * Rd(4.41%) * (1-Tc(0.25)))
Discount Rate = 6.55% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 27.48 | Cagr: -0.01%
[DCF] Terminal Value 73.10% ; FCFF base≈193.0m ; Y1≈169.2m ; Y5≈136.7m
[DCF] Fair Price = 11.13 (EV 2.19b - Net Debt 1.12b = Equity 1.07b / Shares 96.2m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: -67.27 | EPS CAGR: -10.72% | SUE: 1.49 | # QB: 2
Revenue Correlation: 89.28 | Revenue CAGR: 4.58% | SUE: 0.81 | # QB: 0
EPS current Quarter (2027-03-31): EPS=0.23 | Chg30d=-11.54% | Revisions=-25% | Analysts=1
EPS current Year (2026-12-31): EPS=1.46 | Chg30d=+9.19% | Revisions=+17% | GrowthEPS=+55.3% | GrowthRev=+13.6%
EPS next Year (2027-12-31): EPS=1.59 | Chg30d=+4.36% | Revisions=+17% | GrowthEPS=+8.9% | GrowthRev=+6.5%
[Analyst] Revisions Ratio: +10% (up=4, down=3)