Medical Facilities Corporation (DR.TO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+67.8%

CA$24.91

vs CA$14.85 price

Levered DCF

CA$36.87

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

2.15

Grey zone

Rating

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	10.6×	10.53×	9.27×	-39.54×	4.93×	4.6×	1.92×	16.21×
P/B	2.99×	1.64×	1.99×	2.2×	1.8×	1.35×	0.92×	2.49×
P/S	0.87×	0.61×	0.38×	0.41×	0.58×	0.47×	0.29×	0.87×
EV / EBITDA	3.81×	2.01×	3.64×	5.52×	3×	2.79×	2.42×	4.61×
Gross margin	38.0%	66.3%	66.6%	66.1%	67.4%	66.8%	67.7%	68.6%
Operating margin	18.4%	18.6%	15.1%	8.2%	19.4%	18.6%	11.2%	18.5%
Net margin	8.2%	22.2%	4.2%	-1.0%	3.9%	2.4%	2.5%	5.4%
Current ratio	1.79×	1.86×	1.24×	1.37×	1.69×	1.44×	1.84×	1.33×
Debt / equity	0.78×	0.61×	1.36×	1.81×	1.1×	1.27×	1.75×	1.24×
Interest coverage	13.23×	5.1×	4.07×	2.71×	3.01×	2.57×	2.44×	4.8×
Dividend yield	2.3%	3.0%	3.6%	4.3%	3.0%	3.4%	21.0%	7.9%
Payout ratio	24.6%	8.3%	32.8%	-170.1%	44.6%	67.0%	245.5%	129.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	28.0%	60.2%	21.5%	-5.6%	12.2%	6.9%	7.9%	15.2%
Return on invested capital	19.5%	22.3%	19.1%	7.9%	18.9%	15.8%	8.9%	14.2%
Return on assets	7.7%	21.2%	5.2%	-1.2%	3.5%	1.9%	2.1%	4.3%
Free cash flow yield	18.2%	38.0%	33.1%	28.9%	29.2%	46.3%	56.5%	17.4%
Earnings yield	9.4%	36.6%	10.8%	-2.5%	6.7%	5.1%	8.6%	6.1%
Enterprise value	CA$240.5M	CA$166.1M	CA$263.7M	CA$282.2M	CA$309.7M	CA$267.6M	CA$301.6M	CA$476M
Net debt / EBITDA	0.24×	-0.42×	1.28×	2.11×	0.77×	1×	1.5×	1.3×
Cash conversion cycle (days)	28	20	22	12	24	19	15	21