Morguard Real Estate Investment Trust
TSX:MRT-UN.TO · Toronto Stock Exchange
+$0.00 today
Vol 0.00M · Avg 0.01M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Stock Ticker Earnings Waterfall
TSX:MRT-UN.TO · Revenue to Net Income
Key Ratios
Analysis
$239.0M of revenue converted into $1.1M of net income for the selected period. Gross margin is 46.7% and net margin is 0.7%, showing how much revenue survives after costs and taxes. EPS is $0.02, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $239.3M -7.7% | $259.2M +1.6% | $255.1M +5.1% | $242.6M +0.5% | $241.4M | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $127.7M -2.4% | $130.9M +1.4% | $129.1M +7.0% | $120.6M +1.1% | $119.3M | $725.6M | $804.0M | $882.4M |
| Gross Profit | $111.6M -13.0% | $128.2M +1.8% | $126.0M +3.3% | $122.0M -0.1% | $122.1M | $8.9B | $7.6B | $6.2B |
| Gross Margin | 46.6% -2.8pp | 49.5% +0.1pp | 49.4% -0.9pp | 50.3% -0.3pp | 50.6% | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 | $0 | $0 +100.0% | -$0 -1486.3% | $0 | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $3.7M +4.6% | $3.5M -2.7% | $3.6M +2.3% | $3.5M -8.2% | $3.8M | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $3.8M +4.3% | $3.6M -97.1% | $125.7M +3379.3% | $3.6M -8.0% | $3.9M | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $71.0K -9.0% | $78.0K +2.6% | $76.0K -99.9% | $124.3M +0.8% | $123.2M | $374.2M | $1.2B | $631.8M |
| EBITDA | $44.6M +632.2% | $6.1M +146.0% | -$13.2M +61.2% | -$34.0M -129.0% | $117.3M | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 18.6% +16.3pp | 2.3% +7.5pp | -5.2% +8.8pp | -14.0% -62.6pp | 48.6% | 5.6% | 46.3% | 42.0% |
| Operating Income | $107.8M -13.5% | $124.6M +927.3% | -$15.1M -113.1% | $114.8M -2.0% | $117.2M | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 45.1% -3.0pp | 48.1% +54.0pp | -5.9% -53.2pp | 47.3% -1.2pp | 48.5% | 16.6% | 24.1% | 22.0% |
| Interest Income | $0 +100.0% | -$2.5M -50.1% | -$1.7M -103.2% | $53.5M +0.5% | $53.3M | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $61.1M -5.8% | $64.8M +6.0% | $61.1M +17.7% | $52.0M +1.2% | $51.3M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | -$124.4M +32.2% | -$183.5M -209.0% | -$59.4M +71.0% | -$204.5M -80.4% | -$113.3M | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | -$16.6M +71.8% | -$58.8M +21.0% | -$74.4M +13.5% | -$86.1M -1862.5% | $4.9M | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | -6.9% +15.8pp | -22.7% +6.5pp | -29.2% +6.3pp | -35.5% -37.5pp | 2.0% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $0 +100.0% | -$1.7M | $0 -100.0% | $52.0M -0.6% | $52.3M | $1.3B | -$1.6B | $745.2M |
| Net Income | -$16.6M +71.8% | -$58.8M +21.0% | -$74.4M +46.1% | -$138.1M -191.4% | -$47.4M | $4.9B | $4.8B | $4.7B |
| Net Margin | -6.9% +15.8pp | -22.7% +6.5pp | -29.2% +27.7pp | -56.9% -37.3pp | -19.6% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | -$0 +72.8% | -$1 +20.7% | -$1 +46.0% | -$2 -190.5% | -$1 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | -$0 +72.8% | -$1 +20.7% | -$1 +46.0% | -$2 -190.5% | -$1 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $65.2M +1.4% | $64.3M +0.2% | $64.2M -0.0% | $64.2M +0.1% | $64.1M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $65.2M +1.4% | $64.3M +0.0% | $64.2M +0.1% | $64.2M +0.1% | $64.1M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
Artis Real Estate Investment Trust
AX-UN.TO
$846.42M
Minto Apartment Real Estate Investment Trust
TSX:MI-UN.TO
$638.88M
Wall Financial Corporation
TSX:WFC.TO
$621.87M
Melcor Developments Ltd.
TSX:MRD.TO
$554.48M
Plaza Retail REIT
TSX:PLZ-UN.TO
$520.29M
Pro Real Estate Investment Trust
TSX:PRV-UN.TO
$429.02M
BTB Real Estate Investment Trust
TSX:BTB-UN.TO
$338.79M
Madison Pacific Properties Inc.
TSX:MPC.TO
$303.26M
Dream Office Real Estate Investment Trust
TSX:D-UN.TO
$295.45M
Firm Capital Property Trust
TSX:FCD-UN.TO
$254.79M
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does MRT-UN.TO generate?
Morguard Real Estate Investment Trust (MRT-UN.TO) reported $239.34M of revenue in fiscal 2025.
Is MRT-UN.TO profitable?
Morguard Real Estate Investment Trust (MRT-UN.TO) reported -$16,561,000.00 of net income, with a net margin of -6.9%.
Explore More
Continue the stock analysis
Jump to another research area for this company.