# Madison Pacific Properties Inc. (MPC.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Real Estate / Real Estate Management & Development. Price C$4.71, market value C$280 million.

## Valuation
- **P/E (trailing): 11.8×** (5-yr avg 10.3×, 3-yr avg 14.8×). Madison Pacific Properties Inc. trades at 11.8× trailing earnings, close to its own five-year average of 10.3×. The Real Estate median in the September 2026 study was 25.2×. Forward P/E is 0.8×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.00**. A PEG of 0.00 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 5.8×**. Each dollar of revenue is priced at 5.8×.
- **Price / book: 0.7×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **EV / EBITDA: 12.6×**. Enterprise value is 12.6× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 7.7%** (5-yr avg 3.4%). Free cash flow equals 7.7% of the market value, above its five-year average of 3.4%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 8.5%**. The inverse of the P/E: 8.5% of the price is earned each year.

## Profitability
- **Gross margin: 67.5%**. Madison Pacific Properties Inc. keeps 67.5% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 59.9%**. 59.9% of revenue is left after running the business, an exceptional level.
- **Net margin: 57.1%**. 57.1% of each dollar of sales reaches the bottom line.
- **Return on equity: 6.4%**. 6.4% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 3.3%**. Return on all capital, debt included, is 3.3%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 2.8%**. Each dollar of assets produces 2.8% of profit.

## Growth
- **Revenue growth (1 yr): 3.0%** (3-yr 7.0%/yr, 5-yr 8.1%/yr). Revenue grew 3.0% over the last year, against 8.1% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 159.5%** (3-yr -25.6%/yr, 5-yr -2.9%/yr). Earnings per share rose 159.5%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): 16.8%/yr**. Free cash flow has compounded at 16.8% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 0.85**. Debt is 0.85 times equity, moderate leverage.
- **Net debt / EBITDA: 6.8×**. It would take 6.8 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Interest coverage: 1.7×**. Operating profit covers interest 1.7×, thin but manageable.
- **Current ratio: 0.18** (quick 0.18). Current liabilities exceed current assets, so the company depends on ongoing cash generation or refinancing to pay the next year's bills.
- **Altman Z-score: 1.09**. A Z-score of 1.09 is in the distress zone, a signal to examine the balance sheet closely.
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 2.23%** (C$0.10 per share, trailing). Madison Pacific Properties Inc. yields 2.23%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 101%**. The dividend exceeds earnings (101% payout), which is rarely sustainable outside REITs and one-off years.
- **Consecutive years of increases: 3**. 3 straight years of increases.
- **Dividend growth (5 yr): 33.3%/yr** (1-yr 320.8%). The dividend has compounded at 33.3% a year over five years, doubling roughly every 2 years at that pace.

## Price and momentum
- **Total return (1 yr): -8.7%** (YTD -10.7%, 3-mo -10.6%). The shares are down 8.7% over twelve months including dividends.
- **From 52-week high: -15.7%** (7.5% above the low). Trading 16% below its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 34**. An RSI of 34 is neutral.
- **Beta (1 yr): 0.04** (volatility 30%). Beta of 0.04 against the S&P/TSX Composite: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=MPC.TO · Page: https://foliofundamentals.com/stocks/mpc.to

Not investment advice.