Morguard Corporation (MRC) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Morguard Corporation stock C$241, price C$109, upside +120.6%, quality 59 out of 100. Rating: strongly undervalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range C$98.82 – C$149.60 · fair‑value band C$48.22 – C$348.00 · the C$109.30 price screens below the C$241.11 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 7, 2026.
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Morguard Corporation, a real estate investment and management company, engages in property ownership, development, and investment advisory services in Canada and the United States. It operates in four segments: Multi-Suite Residential, Retail, Office, and Hotel.
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The company offers real estate management and advisory services, including acquisitions, development, dispositions, leasing, performance measurement, and asset and property management; and investment products across equity, fixed income, and balanced portfolios to institutional clients and private investors.
It also acquires, develops, and owns a portfolio of multi-suite residential, commercial, retail, office, industrial, and hotel properties. The company was formerly known as Acktion Corporation and changed its name to Morguard Corporation in June 2002.
Morguard Corporation was incorporated in 2024 and is headquartered in Mississauga, Canada. Morguard Corporation operates as a subsidiary of Paros Enterprises Limited.
Stock analysis
Morguard Corporation (MRC) currently trades at C$109.30, while our model-based Fair Value estimate is C$241.11, implying the stock looks roughly 55% undervalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of C$291.57 per share, and 13 of the 16 models we run sit above the C$109.30 price.
Bear case: the Growth DCF group reads lowest at C$230.81, and 3 of the 16 models stay below the price. Data coverage for this calculation is high.
Scenario range: C$48.22 (bear) to C$348.00 (bull), the price of C$109.30 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 59/100 (solid quality), in the Real Estate sector.
Mixed Growth: Spin-off in 1998: revenue and profit before it include the divested business. Growth is measured afresh from 1998.
Morguard Corporation reported revenue of C$1.1B in FY2025 versus C$1.0B in FY2021, a compound +2.4%/yr. Reported net income was C$175M in FY2025, compounding −8.5%/yr from FY2021.
Key figures
Market cap C$1.2B (≈ $826M) Small · P/E ratio 4.6 · P/S ratio 1.04 · EPS (TTM) C$23.74 · Dividend yield 0.7% · Net margin 22.6% · Return on equity 5.5% · Return on assets (EBIT) 5.4% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 63 out of 100 (low confidence).
What moves the price
The share trades about 13% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −51% fair-value upside, at 121%, MRC screens cheaper than that median.
Fair Value models
BearC$48.22Fair Value C$241.11BullC$348.00
Price C$109.30 · Upside +120.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (C$19.61 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.55/100
Spin-off in 1998: revenue and profit before it include the divested business. Growth is measured afresh from 1998.
Revenue growth 1 year
+1.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+1.8%
Start year 2020 (pandemic). Over 10 years: +2.5% a year
Revenue growth 27 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.0%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
+4.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+4.2%
Dividend (yield on the price)0.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.base effect: −3.5% / 4.1%
Profit margin 2019 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.36% → 44%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+18.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Canada: IMF forecast 2.1% a year to 2030, 2.6% from 2016 to 2025) that is about +15.6% a year for the price.
News mood ⓘNews mood, the average tone of recent news (79 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Real Estate - Diversified · 114 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score59 · Above median
Fair Value upside+120.6% · Top 25%
Profitability
Return on equity (12 months)5.5% · Below median
Return on assets1.5% · Below median
Net margin (12 months)22.6% · Above median
Operating margin (12 months)50.8% · Above median
Growth and dividend
Revenue growth (quarter YoY)2.9% · Above median
Dividend yield (12 months)0.7% · Bottom 25%
Balance sheet
Debt / equity1.01× · Highest 25%
Valuation Multiplesvs Real Estate - Diversified median · lower = cheaper
P/E (12 months)4.6× · Cheapest 25%
P/B0.27× · Cheapest 25%
P/S (12 months)1.04× · Cheapest 25%
Price / free cash flow (fiscal year)5.6× · Cheaper than median
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Morguard Corporation Fair Value". https://www.fairvalue-calculator.com/stock/MRC
Frequently asked questions
Is Morguard Corporation (MRC) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of C$241.11 versus a price of C$109.30, about +121% upside (undervalued).
What is the fair value of MRC?
Our model-based fair value for Morguard Corporation is C$241.11 (as of Nov 7, 2026), built from audited fundamentals. The current price: C$109.30.
What is the quality score of MRC?
Morguard Corporation has a Quality Score of 59/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Morguard Corporation (MRC)?
Our model-based price target is the fair value of C$241.11 (as of Nov 7, 2026) from 16 valuation models. Cautious scenario C$48.22, optimistic scenario C$348.00. It is a calculation from audited fundamentals, not an analyst target.
What is the Morguard Corporation stock forecast for 2026?
Our models put fair value at C$241.11, about +121% upside versus a price of C$109.30 (undervalued). Cautious scenario C$48.22, optimistic scenario C$348.00. The calculation is refreshed regularly with new filings.
What is the revenue of Morguard Corporation (MRC)?
Morguard Corporation reported trailing-twelve-month revenue of about C$1.1B (latest available figure, as of Nov 7, 2026).
Does Morguard Corporation pay a dividend?
Morguard Corporation currently shows a dividend yield of 0.73% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Morguard Corporation (MRC) and when is the ex-dividend date?
Morguard Corporation pays a dividend of C$0.8 per share a year, a dividend yield of 0.7%. The next ex-dividend date is Dec 15, 2026. A dividend has been paid every year since at least 1995. The payout ratio is 3.4% of earnings. Free cash flow covers the dividend 24.50 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Morguard Corporation (MRC)?
For today's price to be fair in a discounted-cash-flow model, Morguard Corporation would have to grow free cash flow by +18.1 % per year for five years (discount rate 9.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +1.8 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of MRC use?
Our models discount Morguard Corporation at 9.6 %: a base by market capitalisation (small), damped by beta 0.47, country premium for Canada. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Morguard Corporation that is +18.1 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.6 %) and the same formula as our fair value.
How much growth has Morguard Corporation (MRC) delivered so far?
Over the past 5 years revenue at Morguard Corporation grew +1.8 % a year. The price currently implies free-cash-flow growth of +18.1 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Morguard Corporation (MRC) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into Morguard Corporation (+18.1 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Morguard Corporation (MRC)?
The free-cash-flow yield on the price is 17.92 %: that much free cash flow Morguard Corporation produces per unit of market value. When it exceeds the discount rate of our models (9.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Morguard Corporation (MRC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Morguard Corporation it is C$241.11 per share (as of Nov 7, 2026), against a price of C$109.30. It is the blended result of 16 valuation models in 6 families (DCF Models, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is Morguard Corporation stock overvalued or undervalued in 2026?
As of Nov 7, 2026, MRC trades below its calculated fair value: price C$109.30, fair value C$241.11, a gap of about +121% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of MRC?
No. The price is what the market pays today (C$109.30); the fair value is what the company's own numbers justify (C$241.11). For Morguard Corporation the two are C$131.81 per share apart. That gap is exactly why we show both numbers side by side.
How much is Morguard Corporation worth?
The market values Morguard Corporation at about C$1.2B (market capitalisation, as of Nov 7, 2026). Per share that is C$109.30; our models calculate a fair value of C$241.11 per share.
What do the bullish and bearish scenarios say about MRC?
Our models span a range for Morguard Corporation: cautious scenario C$48.22, base C$241.11, optimistic C$348.00 per share (as of Nov 7, 2026, price C$109.30). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MRC?
Morguard Corporation trades at a price-to-earnings ratio of 4.6 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of C$241.11 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 7.1. Other multiples: P/B 0.3, P/S 1.0, EV/EBITDA 10.4.
How solid is the balance sheet of Morguard Corporation (MRC)?
Balance-sheet figures for Morguard Corporation (as of Nov 7, 2026): return on equity 5.5%, debt of 1.01 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is MRC from its 52-week high?
Morguard Corporation trades at C$109.30, about 13% below its 52-week high of C$125.85 and at the low of C$109.00 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of C$241.11 is for.
Which stocks are comparable to Morguard Corporation?
From the same area (Real Estate) we also value Swiss Prime Site AG, The Phoenix Mills Limited, Prestige Estates Projects Limited, Umm Al Qura for Development and Construction Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Morguard Corporation stock attractive at the current price?
The data as of Nov 7, 2026: price C$109.30, calculated fair value C$241.11 (+121%), Quality Score 59/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of MRC calculated?
We run Morguard Corporation through 16 models from 6 families: DCF Models, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of C$241.11 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Morguard Corporation currently trades 55% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Morguard Corporation (MRC)?
The closing price on Nov 6, 2026 was C$109.30. Our model-based fair value is C$241.11, about +121% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Morguard Corporation right now?
The model range is unusually wide (C$48.22 to C$348.00). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (59/100) at a price below fair value, the discount is the argument here, not the business quality. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Where does the earnings growth of Morguard Corporation (MRC) come from?
Earnings per share at Morguard Corporation grew +4.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share +5.9 %, EBIT margin +3.7 %, tax rate +2.8 %, residual (interest, one-offs) −7.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Morguard Corporation
How large is the market capitalisation of Morguard Corporation (MRC)?
The market capitalisation of Morguard Corporation is C$1.2B (≈ $826M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Morguard Corporation (MRC)?
The price-to-sales ratio of Morguard Corporation is 1.04 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Morguard Corporation (MRC)?
Earnings per share at Morguard Corporation are C$23.74 (price ÷ EPS = P/E 4.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Morguard Corporation (MRC)?
The dividend yield of Morguard Corporation is 0.7% (payout 3.4%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Morguard Corporation (MRC)?
The net margin of Morguard Corporation is 22.6% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Morguard Corporation (MRC)?
The return on equity (ROE) of Morguard Corporation is 5.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Morguard Corporation (MRC)?
On an EBIT basis the return on assets of Morguard Corporation is 5.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Morguard Corporation (MRC)?
The operating margin of Morguard Corporation is 50.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Morguard Corporation (MRC)?
Revenue at Morguard Corporation is growing +2.9% versus a year earlier (3y avg +0.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Morguard Corporation (MRC)?
Earnings per share at Morguard Corporation are growing +126% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Morguard Corporation (MRC) carry?
The net debt of Morguard Corporation is C$5.4B (fiscal year 2025, ≈ 26.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 7, 2026