Morguard North American Residential Real Estate Investment Trust

MRG-UN.TOTSXReal Estate● Active

$16.72

$-0.01(-0.06%)

Market Cap$584222081

P/E Ratio—

52W High$19.2

52W Low$16.31

Avg Volume27K

Open$16.71

Beta0.93

Free Cash Flow Financials Revenue

Morguard North American Residential Real Estate Investment Trust (MRG-UN.TO) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

MRG-UN.TO · free cash flow · updated Jun 8, 2026

Core FCF metrics

MRG-UN.TO · FCF · TTM · margin & CAGR

Free cash flow was $87.8M for FY2025 (fiscal year ending 2025-12-31), down 10.0% year-over-year The FCF margin was 24.8%. Five-year CAGR stands at +11.8%.

FY2025 Free Cash Flow$87.8M▼ -10.0% YoY

Trailing 12M (TTM)$90.1Mtrailing 4 quarters sum

FCF Margin24.8%$87.8M ÷ revenue

3-Year CAGR+5.3%FY2022 → FY2025

5-Year CAGR+11.8%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

MRG-UN.TO · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$87.8M(0M)$87.8M▼ 10.0%24.8%

FY2024$97.5M(0M)$97.5M▲ +9.6%28.3%

FY2023$89.0M(0M)$89.0M▲ +18.3%26.8%

FY2022$75.2M(0M)$75.2M▲ +18.0%27.0%

FY2021$63.7M(0M)$63.7M▲ +27.1%25.9%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

MRG-UN.TO · P/FCF · FCF yield · FCF per share

Morguard North American Residential Real Estate Investment Trust (MRG-UN.TO) trades at a FCF yield of 15.42% and a price-to-free-cash-flow ratio of 9.7x. FCF per share stands at $1.73, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

15.42%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$1.73

TTM FCF ÷ Shares Outstanding

Price / FCF

x9.7

Share Price ÷ FCF per Share

EV / FCF (TTM)

x25.4

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

MRG-UN.TO · cash flow statement · operating / investing / financing

For FY2025, Morguard North American Residential Real Estate Investment Trust generated $87.8M in operating cash flow and spent 0M in capital expenditures, yielding $87.8M in free cash flow.

Operating Activities

+$87.8M

Cash from core business operations

2025-12-31

Investing Activities

−$71.3M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$49.1M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($87.8M) − |CapEx| (0M) = FCF ($87.8M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Real Estate)

MRG-UN.TO vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Morguard North American Residential Real Estate Investment TrustYOU

MRG-UN.TO

$87.8M-10.0%24.7%

American Tower Corporation

AMT

$3.78B+2.2%35.5%

76%

Simon Property Group, Inc.

Real Estate · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Morguard North American Residential Real Estate Investment Trust (MRG-UN.TO) reported free cash flow of $87.8M for FY2025 (fiscal year ending 2025-12-31), down 10.0% year-over-year. The FCF margin was 24.8%.

Based on available data, Morguard North American Residential Real Estate Investment Trust has maintained positive free cash flow for at least 11 fiscal year(s). FCF peaked at $138.3M in FY2019. The 5-year CAGR stands at +11.8%.

Morguard North American Residential Real Estate Investment Trust's FCF yield is 15.42% and price-to-FCF ratio is 9.7x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

MRG-UN.TO free cash flow · 8 questions

Morguard North American Residential Real Estate Investment Trust free cash flow was $87.8M for FY2025, down 10.0% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $90.1M.

MRG-UN.TO free cash flowMRG-UN.TO FCFMRG-UN.TO FCF 2025MRG-UN.TO free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Morguard North American Residential Real Estate Investment Trust · Morguard North American Residential Real Estate Investment Trust SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026