Magellan Aerospace Corporation (MAL.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

+0.7%

CA$33.37

vs CA$33.15 price

Levered DCF

CA$59.63

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

4.91

Safe zone

Rating

A-

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	26.84×	16.24×	49.06×	-26.32×	-589.35×	153.59×	12.12×	9.79×
P/B	1.29×	0.72×	0.61×	0.79×	0.75×	0.65×	1.01×	1.11×
P/S	1.01×	0.61×	0.51×	0.75×	0.84×	0.68×	0.81×	0.9×
EV / EBITDA	10.39×	6.28×	7.35×	18.99×	10.82×	6.81×	6.06×	5.55×
Gross margin	13.5%	11.4%	10.1%	4.6%	7.0%	13.0%	15.4%	16.9%
Operating margin	7.6%	5.4%	3.6%	-1.6%	1.0%	5.7%	8.8%	12.0%
Net margin	3.8%	3.8%	1.1%	-2.8%	-0.1%	0.4%	6.6%	9.2%
Current ratio	2.75×	2.71×	2.82×	2.82×	3.6×	3.18×	2.72×	2.58×
Debt / equity	0.11×	0.11×	0.1×	0.09×	0.09×	0.15×	0.15×	0.1×
Interest coverage	47.28×	13.1×	9.17×	-4.37×	2.53×	12.35×	34.68×	61.41×
Dividend yield	0.9%	1.0%	1.3%	2.6%	4.2%	4.8%	2.9%	2.4%
Payout ratio	25.3%	16.1%	62.0%	-69.1%	-2481.8%	735.6%	35.0%	23.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	4.8%	4.4%	1.3%	-3.0%	-0.1%	0.4%	8.3%	11.3%
Return on invested capital	6.0%	4.0%	1.6%	-1.4%	-0.4%	1.0%	7.2%	9.9%
Return on assets	3.4%	3.1%	0.9%	-2.1%	-0.1%	0.3%	5.9%	8.3%
Free cash flow yield	2.6%	11.0%	-9.2%	5.9%	-1.7%	15.7%	5.8%	5.6%
Earnings yield	3.7%	6.2%	2.1%	-3.8%	-0.2%	0.7%	8.2%	10.2%
Enterprise value	CA$1.1B	CA$605.6M	CA$522.2M	CA$598.8M	CA$610.3M	CA$510.4M	CA$867.7M	CA$886.6M
Net debt / EBITDA	0.24×	0.31×	1.01×	0.71×	0.63×	0.02×	0.34×	0.09×
Cash conversion cycle (days)	189	211	205	191	211	185	139	136