Mullen Group Ltd.
TSX:MTL.TO · Toronto Stock Exchange
+$0.27 today
Vol 0.09M · Avg 0.28M
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:MTL.TO · Revenue to Net Income
Key Ratios
Analysis
$2.2B of revenue converted into $94.4M of net income for the selected period. Gross margin is 23.1% and net margin is 4.3%, showing how much revenue survives after costs and taxes. EPS is $1.00, 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 | $2.1B +7.3% | $2.0B -0.3% | $2.0B -0.2% | $2.0B +35.3% | $1.5B | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $1.6B +8.1% | $1.5B -0.3% | $1.5B -1.3% | $1.5B +31.7% | $1.2B | $725.6M | $804.0M | $882.4M |
| Gross Profit | $493.6M +4.4% | $472.7M -0.3% | $473.9M +3.2% | $459.0M +49.0% | $308.1M | $8.9B | $7.6B | $6.2B |
| Gross Margin | 23.1% -0.6pp | 23.8% +0.0pp | 23.8% +0.8pp | 23.0% +2.1pp | 20.9% | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 | $0 | $0 | $0 | $0 | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $315.3M +16.2% | $271.4M +8.6% | $249.9M +3.4% | $241.6M +30.1% | $185.7M | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $315.3M +16.2% | $271.4M +3.7% | $261.6M +8.3% | $241.6M +30.1% | $185.7M | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $146.4M +11.8% | $130.9M +13.0% | $115.9M +3.0% | $112.5M -1.3% | $114.0M | $374.2M | $1.2B | $631.8M |
| EBITDA | $324.6M -2.5% | $333.0M -0.5% | $334.6M -4.5% | $350.3M +46.5% | $239.1M | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 15.2% -1.5pp | 16.7% -0.0pp | 16.8% -0.7pp | 17.5% +1.3pp | 16.2% | 5.6% | 46.3% | 42.0% |
| Operating Income | $178.2M -11.4% | $201.3M -5.2% | $212.3M -1.0% | $214.4M +73.6% | $123.5M | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 8.4% -1.8pp | 10.1% -0.5pp | 10.6% -0.1pp | 10.7% +2.4pp | 8.4% | 16.6% | 24.1% | 22.0% |
| Interest Income | $6.5M +5.4% | $6.1M +671.9% | $794.0K +101.0% | $395.0K -6.4% | $422.0K | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $60.9M +26.1% | $48.3M +27.7% | $37.8M +6.8% | $35.4M +15.0% | $30.8M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | -$58.4M -23.0% | -$47.5M -63.1% | -$29.1M -739.3% | -$3.5M +87.4% | -$27.5M | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $119.8M -22.1% | $153.8M -16.0% | $183.1M -13.2% | $210.9M +119.7% | $96.0M | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 5.6% -2.1pp | 7.7% -1.5pp | 9.2% -1.4pp | 10.5% +4.0pp | 6.5% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $28.7M -30.8% | $41.5M -10.6% | $46.4M -11.2% | $52.3M +121.8% | $23.6M | $1.3B | -$1.6B | $745.2M |
| Net Income | $91.1M -18.8% | $112.3M -17.9% | $136.7M -13.8% | $158.6M +119.0% | $72.4M | $4.9B | $4.8B | $4.7B |
| Net Margin | 4.3% -1.4pp | 5.6% -1.2pp | 6.9% -1.1pp | 7.9% +3.0pp | 4.9% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $1 -19.5% | $1 -15.8% | $2 -10.6% | $2 +126.7% | $1 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $1 -17.9% | $1 -15.2% | $1 -10.5% | $2 +116.0% | $1 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $88.3M +0.5% | $87.9M -2.3% | $89.9M -3.7% | $93.4M -2.8% | $96.1M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $96.3M -0.9% | $97.2M -1.9% | $99.1M -3.2% | $102.4M +6.5% | $96.1M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
Bird Construction Inc.
TSX:BDT.TO
$3.39B
Westshore Terminals Investment Corporation
TSX:WTE.TO
$2.43B
Savaria Corporation
TSX:SIS.TO
$2.10B
Magellan Aerospace Corporation
TSX:MAL.TO
$1.80B
Ballard Power Systems Inc.
TSX:BLDP.TO
$1.79B
Black Diamond Group Limited
TSX:BDI.TO
$1.29B
Cargojet Inc.
TSX:CJT.TO
$1.24B
ADENTRA Inc.
TSX:ADEN.TO
$834.53M
Transcontinental Inc.
TSX:TCL-A.TO
$416.83M
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does MTL.TO generate?
Mullen Group Ltd. (MTL.TO) reported $2.13B of revenue in fiscal 2025.
Is MTL.TO profitable?
Mullen Group Ltd. (MTL.TO) reported $91.11M of net income, with a net margin of 4.3%.
Explore More
Continue the stock analysis
Jump to another research area for this company.