MacKenzie Realty Capital, Inc. (MKZR) 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

+10015.4%

$105.20

vs $1.04 price

Levered DCF

-$98.37

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

-0.57

Distress zone

Rating

Overall 2 / 5

Ratios by fiscal year

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

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	-0.18×	-0.36×	-1.31×	-3.61×	3.82×	65×	-1.48×	5.91×
P/B	0.08×	0.16×	0.21×	0.17×	0.18×	0.18×	0.17×	0×
P/S	0.17×	0.44×	1.1×	1.15×	1.67×	2.9×	1.98×	1.46×
EV / EBITDA	31.08×	-35.24×	60.33×	10.94×	7.1×	16.88×	2.41×	0×
Gross margin	-48.5%	50.9%	38.1%	20.3%	14.3%	100.0%	64.1%	60.4%
Operating margin	-16.2%	-24.6%	-63.0%	-131.5%	-160.2%	-6.6%	39.7%	47.4%
Net margin	-88.2%	-117.5%	-76.8%	-27.1%	44.0%	4.4%	-134.3%	24.3%
Current ratio	8.32×	1.17×	2.95×	4.86×	4.85×	10.58×	11.77×	0×
Debt / equity	3.41×	2.26×	1.44×	0.96×	0.71×	0.41×	0×	0×
Interest coverage	-0.32×	-0.64×	-1.62×	-2.8×	-7.05×	-0.62×	0×	0×
Dividend yield	27.6%	59.0%	35.2%	25.8%	16.3%	2.7%	26.2%	21.9%
Payout ratio	-5.4%	-22.4%	-50.3%	-109.1%	61.9%	174.5%	-38.6%	131.5%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-40.1%	-43.3%	-14.7%	-4.1%	4.7%	0.3%	-11.4%	0.0%
Return on invested capital	-1.4%	-2.4%	-4.3%	-9.5%	-9.4%	-0.3%	3.4%	0.0%
Return on assets	-7.5%	-11.0%	-5.2%	-1.9%	2.5%	0.2%	-11.3%	0.0%
Free cash flow yield	-96.7%	-17.2%	-3.4%	-38.3%	26.7%	5.6%	-10.0%	-128.4%
Earnings yield	-512.4%	-264.0%	-69.9%	-23.7%	26.4%	1.5%	-67.8%	16.7%
Enterprise value	$149.2M	$141.4M	$123.9M	$95M	$79.3M	$52M	$8.3M	$0
Net debt / EBITDA	30.37×	-32.79×	51.92×	8.95×	5.55×	11.26×	-2.58×	0×
Cash conversion cycle (days)	11	-116	-58	-13	-68	80	30	0