Mullen Group Ltd.

MTL.TOTSXIndustrials● Active

$23.32

+$0.66(+2.91%)

Market Cap$2.2B

P/E Ratio—

52W High$23.37

52W Low$12.98

Avg Volume290K

Open$22.75

Beta0.93

Free Cash Flow Financials Revenue

Mullen Group Ltd. (MTL.TO) Free Cash Flow & Analysis

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

MTL.TO · free cash flow · updated Jun 8, 2026

Core FCF metrics

MTL.TO · FCF · TTM · margin & CAGR

Free cash flow was $158.2M for FY2025 (fiscal year ending 2025-12-31), down 29.6% year-over-year The FCF margin was 7.4%. Five-year CAGR stands at -0.2%.

FY2025 Free Cash Flow$158.2M▼ -29.6% YoY

Trailing 12M (TTM)$169.4Mtrailing 4 quarters sum

FCF Margin7.4%$158.2M ÷ revenue

3-Year CAGR-4.5%FY2022 → FY2025

5-Year CAGR-0.2%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

MTL.TO · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$254.0M(96M)$158.2M▼ 29.6%7.4%

FY2024$296.1M(72M)$224.6M▲ +28.2%11.3%

FY2023$276.7M(102M)$175.1M▼ 3.5%8.8%

FY2022$263.0M(81M)$181.6M▲ +39.9%9.1%

FY2021$198.0M(68M)$129.8M▼ 18.7%8.8%

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

FCF valuation metrics

MTL.TO · P/FCF · FCF yield · FCF per share

Mullen Group Ltd. (MTL.TO) trades at a FCF yield of 7.56% and a price-to-free-cash-flow ratio of 12.1x. FCF per share stands at $1.92, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

7.56%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$1.92

TTM FCF ÷ Shares Outstanding

Price / FCF

x12.1

Share Price ÷ FCF per Share

EV / FCF (TTM)

x18.6

Enterprise Value basis

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

Cash flow statement summary

MTL.TO · cash flow statement · operating / investing / financing

For FY2025, Mullen Group Ltd. generated $254.0M in operating cash flow and spent 96M in capital expenditures, yielding $158.2M in free cash flow.

Operating Activities

+$254.0M

Cash from core business operations

2025-12-31

Investing Activities

−$258.4M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$15.2M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($254.0M) − |CapEx| (96M) = FCF ($158.2M)

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

View Full Cash Flow Statement →

Free cash flow vs peers (Industrials)

MTL.TO vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Mullen Group Ltd.YOU

MTL.TO

$158.2M-29.6%7.4%

Space Exploration Technologies Corp.

SPCX

−$13.95B-159.0%-74.7%

Loss

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

About Free Cash Flow & Methodology

Mullen Group Ltd. (MTL.TO) reported free cash flow of $158.2M for FY2025 (fiscal year ending 2025-12-31), down 29.6% year-over-year. The FCF margin was 7.4%.

Based on available data, Mullen Group Ltd. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $224.6M in FY2024. The 5-year CAGR stands at -0.2%.

Mullen Group Ltd.'s FCF yield is 7.56% and price-to-FCF ratio is 12.1x 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

MTL.TO free cash flow · 8 questions

Mullen Group Ltd. free cash flow was $158.2M for FY2025, down 29.6% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $169.4M.

MTL.TO free cash flowMTL.TO FCFMTL.TO FCF 2025MTL.TO free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Mullen Group Ltd. · Mullen Group Ltd. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026