Major Drilling Group (MDI) Fair Value & Analysis
Basic Materials · CA · Market cap C$1.2B
Fair value as of: Jul 13, 2026
From 24 valuation models · updated 27 days ago
Fair value updated Jul 13, 2026, revised from C$5.79 to C$4.42 (−23.7%) since Jun 24, 2026. Share price +10.0% over the past month.
A solid business, but screening 71% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (C$5.53). The favourable scenario is already priced in.
- Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.
How to read this chart
60‑month range C$6.59 – C$18.40 · fair‑value band C$3.32 – C$5.53 · the C$15.48 price screens above the C$4.42 fair value. Dashed = 300-day average. As of Jul 13, 2026.
Analysis
Major Drilling Group (MDI) currently trades at C$15.48, while our model-based Fair Value estimate is C$4.42, implying the stock looks roughly 71.5% overvalued today. The Quality Score stands at 60/100 (solid quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Major Drilling Group generated revenue of C$843M at a net margin of 1.7%. Revenue grew 14.9% year over year. It earns a return on equity of 2.6%. The balance sheet holds a net cash position of C$27.5M. Fundamentals as of Jul 13, 2026
Our scenario range runs from C$3.32 (bear case) to C$5.53 (bull case); at C$15.48, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 17% below its 52-week high and 84% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -34% fair-value upside, at -71%, MDI screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 24 models by family
Widest divergence: DCF Models (C$5.68) versus Earnings-Based (C$2.05). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 61 · Market factors (momentum, volatility) 60
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Major Drilling Group International Inc. provides contract drilling services to mining and mineral exploration companies in the United States, Canada, South and Central America, Australasia, and Africa.
Full company description
Major Drilling Group International Inc. provides contract drilling services to mining and mineral exploration companies in the United States, Canada, South and Central America, Australasia, and Africa. The company offers various drilling services, including reverse circulation, surface and underground coring, directional, sonic, geotechnical, environmental, water-well, coal-bed methane, shallow gas, underground percussive, longhole drilling, and surface drill and blast services, as well as range of mining services. Major Drilling Group International Inc. was founded in 1980 and is headquartered in Moncton, Canada.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Major Drilling Group reported revenue of C$889M in FY2026 versus C$650M in FY2022, a compound +8.1%/yr. Reported net income was C$21.4M in FY2026, compounding −20.5%/yr from FY2022.
MDI screens 71% overvalued. Compare with BHP Group →
Peer Group
Other Industrial Metals & Mining · 476 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Other Industrial Metals & Mining median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| BHP Group BHPN | 1,425 MXN | 942.42 MXN | -34% |
| Rio Tinto Group RIO | A$164.89 | A$81.76 | -50% |
| Grupo México, S.A. GMEXICOB | 199.23 MXN | 187.72 MXN | -6% |
| Vale S.A VALE | $14.19 | $9.14 | -36% |
| Saudi Arabian Mining Company 1211 | 58.05 SAR | 33.87 SAR | -42% |
| CMOC Group 603993 | ¥18.20 | ¥16.15 | -11% |
| Fortescue Ltd FMG | A$18.47 | A$18.62 | +1% |
| China Tungsten And Hightech Materials Co 000657 | ¥74.71 | ¥9.55 | -87% |
| Hindustan Zinc Limited HINDZINC | ₹521.95 | ₹576.80 | +11% |
| China Northern Rare Earth (Group) High-Tech Co 600111 | ¥39.56 | ¥10.59 | -73% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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