Cash flow MTY Food Group Inc.

Equities

MTY

CA55378N1078

Restaurants & Bars

Market Closed - Toronto S.E. Other stock markets 04:00:00 2025-02-10 pm EST			5-day change	1st Jan Change
49.80 ^CAD	+3.66%		+2.15%	+8.80%

Jan. 20	National Bank Previews MTY Foods' Q4	MT
Oct. 15	National Bank Raises MTY Food Target to $57, Maintains Outperform	MT

3705f311288ee888232ba2.lcwnWTKTPUrNa6LdDsD_NEHTmoRdAVn9ZSHUApWsCAM.1IlmOkPkWD6gIdesVo3IACaLo_YQWDGSK26tMvf5YkHAi008H_5UE7olzQ

Published financial data: MTY FOOD GROUP INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: November	2019	2020	2021	2022	2023
Revenues	551M	511M	552M	717M	1.17B
Total Revenues	551M	511M	552M	717M	1.17B
Cost of Goods Sold, Total	97.76M	66.03M	58.95M	114M	442M
Gross Profit	453M	445M	493M	602M	728M
Depreciation & Amortization - (IS)	4.02M	17M	16.17M	21.55M	54.93M
Amortization of Goodwill and Intangible Assets - (IS)	29.18M	30.88M	28.44M	29.47M	34.56M
Other Operating Expenses	306M	308M	324M	420M	457M
Other Operating Expenses, Total	339M	356M	368M	471M	546M
Operating Income	114M	89.44M	125M	131M	181M
Interest Expense, Total	-17.65M	-32.47M	-23.96M	-25.85M	-74.98M
Interest And Investment Income	856K	13.64M	11.75M	10.46M	14.68M
Net Interest Expenses	-16.79M	-18.83M	-12.21M	-15.38M	-60.3M
Income (Loss) On Equity Invest.	-	508K	-709K	-	-
Currency Exchange Gains (Loss)	402K	3.23M	-300K	-5.69M	-2.63M
Other Non Operating Income (Expenses)	931K	-1.6M	1.5M	1.14M	1.52M
EBT, Excl. Unusual Items	98.73M	72.74M	113M	111M	120M
Merger & Related Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-	-67.97M	-	-	-
Gain (Loss) On Sale Of Investments	-	-	-	-2.77M	-
Gain (Loss) On Sale Of Assets	2.34M	-466K	3.55M	108K	-1.45M
Asset Writedown	-2.62M	-59.15M	-7.45M	-14.88M	-9.86M
Other Unusual Items	-452K	2.89M	2.98M	2.59M	1.45M
EBT, Incl. Unusual Items	98M	-51.95M	112M	96.17M	110M
Income Tax Expense	20.26M	-15.05M	26.13M	20.99M	5.46M
Earnings From Continuing Operations	77.74M	-36.9M	85.94M	75.18M	105M
Net Income to Company	77.74M	-36.9M	85.94M	75.18M	105M
Minority Interest	-61K	-213K	-304K	-362K	-442K
Net Income - (IS)	77.68M	-37.11M	85.64M	74.82M	104M
Net Income to Common Incl Extra Items	77.68M	-37.11M	85.64M	74.82M	104M
Net Income to Common Excl. Extra Items	77.68M	-37.11M	85.64M	74.82M	104M
Per Share Items
Net EPS - Basic	3.09	-1.5	3.47	3.06	4.26
Basic EPS - Continuing Operations	3.09	-1.5	3.47	3.06	4.26
Basic Weighted Average Shares Outstanding	25.15M	24.76M	24.7M	24.44M	24.41M
Net EPS - Diluted	3.08	-1.5	3.46	3.06	4.25
Diluted EPS - Continuing Operations	3.08	-1.5	3.46	3.06	4.25
Diluted Weighted Average Shares Outstanding	25.19M	24.76M	24.75M	24.47M	24.48M
Normalized Basic EPS	2.45	1.83	2.85	2.83	3.05
Normalized Diluted EPS	2.45	1.83	2.84	2.82	3.04
Dividend Per Share	0.66	0.18	0.37	0.84	1
Payout Ratio	21.52	-12.49	10.67	27.42	23.45
Supplemental Items
EBITDA	147M	125M	157M	167M	234M
EBITA	143M	120M	153M	161M	216M
EBIT	114M	89.44M	125M	131M	181M
EBITDAR	170M	131M	160M	171M	253M
Effective Tax Rate - (Ratio)	20.68	28.98	23.31	21.83	4.97
Current Domestic Taxes	-	-	-	-	-
Current Foreign Taxes	-	-	-	-	-
Total Current Taxes	17.49M	8.36M	21.04M	24.67M	12.46M
Deferred Domestic Taxes	-	-	-	-	-
Deferred Foreign Taxes	-	-	-	-	-
Total Deferred Taxes	2.77M	-23.41M	5.09M	-3.68M	-7M
Normalized Net Income	61.64M	45.25M	70.32M	69.09M	74.46M
Interest Capitalized	1.08M	525K	665K	1.82M	157K
Interest on Long-Term Debt	17.65M	32.47M	23.96M	25.85M	74.98M
Supplemental Operating Expense Items
Net Rental Expense, Total	22.96M	5.84M	2.91M	4.98M	19.11M
Imputed Operating Lease Interest Expense	8.43M	1.98M	619K	1.16M	9.65M
Imputed Operating Lease Depreciation	14.53M	3.86M	2.29M	3.83M	9.46M
Stock-Based Comp., Other (Total)	657K	963K	924K	1.12M	792K
Total Stock-Based Compensation	657K	963K	924K	1.12M	792K

Fiscal Period: November	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	50.74M	44.3M	61.23M	59.48M	58.9M
Trading Asset Securities, Total	-	-	-	-	4.65M
Total Cash And Short Term Investments	50.74M	44.3M	61.23M	59.48M	63.54M
Accounts Receivable, Total	65.13M	146M	147M	162M	163M
Other Receivables	563K	420K	3.71M	3.98M	12.54M
Notes Receivable	4.08M	1.53M	1.19M	1.15M	924K
Total Receivables	69.77M	148M	151M	167M	177M
Inventory	7.53M	9.42M	10.71M	18.52M	20.73M
Prepaid Expenses	9.28M	6.75M	7.72M	14.54M	14.08M
Other Current Assets, Total	13.09M	2.79M	2.4M	5.39M	6.09M
Total Current Assets	150M	211M	233M	265M	281M
Gross Property Plant And Equipment	33.64M	102M	94.92M	273M	332M
Accumulated Depreciation	-12.27M	-15.8M	-17.46M	-22.5M	-37.37M
Net Property Plant And Equipment	21.36M	85.77M	77.46M	251M	295M
Long-term Investments	-	26.61M	25.91M	-	3.24M
Goodwill	510M	439M	428M	530M	719M
Other Intangibles, Total	958M	864M	820M	1.02B	1.12B
Accounts Receivable Long-Term	-	378M	310M	255M	254M
Loans Receivable Long-Term	3.06M	3.23M	1.3M	1.47M	4.46M
Deferred Tax Assets Long-Term	238K	207K	185K	224K	93K
Deferred Charges Long-Term	6.07M	5.17M	5.63M	6.46M	7.32M
Other Long-Term Assets, Total	-	-	1.75M	1.82M	-
Total Assets	1.65B	2.01B	1.9B	2.33B	2.68B
Liabilities
Accounts Payable, Total	90.72M	90.84M	88.98M	121M	116M
Accrued Expenses, Total	-	-	-	-	-
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	4.59M	12.89M	13.12M	9.53M	13.05M
Current Portion of Leases	-	115M	102M	114M	112M
Current Income Taxes Payable	20.51M	18.34M	4.26M	9.81M	-
Unearned Revenue Current, Total	122M	130M	148M	179M	194M
Other Current Liabilities	13.16M	3.06M	1.69M	1.49M	4.66M
Total Current Liabilities	251M	370M	358M	435M	441M
Long-Term Debt	536M	448M	348M	551M	757M
Long-Term Leases	-	444M	372M	400M	423M
Unearned Revenue Non Current	38.22M	41.37M	44.34M	48.4M	53.02M
Deferred Tax Liability Non Current	158M	129M	133M	164M	194M
Other Non Current Liabilities	-	-	1.03M	557K	216K
Total Liabilities	983M	1.43B	1.26B	1.6B	1.87B
Common Stock, Total	311M	306M	306M	303M	302M
Additional Paid In Capital	2.1M	3.02M	3.86M	4.86M	5.65M
Retained Earnings	353M	287M	360M	403M	479M
Comprehensive Income and Other	-1.59M	-14.2M	-22.17M	12.92M	24.62M
Total Common Equity	665M	582M	648M	723M	811M
Minority Interest	732K	759K	1.26M	1.22M	1.48M
Total Equity	665M	583M	649M	725M	813M
Total Liabilities And Equity	1.65B	2.01B	1.9B	2.33B	2.68B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	24.95M	24.71M	24.42M	24.41M	24.31M
ECS Total Common Shares Outstanding	25.07M	24.71M	24.67M	24.41M	24.33M
Book Value / Share	26.51	23.55	26.25	29.63	33.35
Tangible Book Value	-803M	-722M	-601M	-821M	-1.02B
Tangible Book Value Per Share	-32.02	-29.21	-24.36	-33.65	-42.1
Total Debt	541M	1.02B	834M	1.08B	1.31B
Net Debt	490M	975M	773M	1.02B	1.24B
Debt Equivalent Oper. Leases	184M	46.71M	23.31M	39.88M	153M
Minority Interest, Total (Incl. Fin. Div)	732K	759K	1.26M	1.22M	1.48M
Equity Method Investments, Total	-	26.61M	25.91M	-	-
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	3.5M	3.5M	4.06M	2.39M	3.26M
Inventories - Work In Process, Total	359K	466K	513K	1.01M	1.76M
Inventories - Finished Goods, Total	3.67M	5.44M	6.14M	15.12M	15.71M
Land - (BS)	1.24M	1.24M	1.24M	7.32M	7.34M
Buildings, Total	5.22M	5.25M	5.13M	9.88M	9.47M
Machinery, Total	15.69M	16.17M	20.38M	51.76M	67.93M
Full Time Employees	2.82K	1.94K	1.98K	7.06K	7.33K
Accumulated Allowance for Doubtful Accounts (Supple)	8.18M	12.53M	8.46M	7.09M	8.86M

Fiscal Period: November	2019	2020	2021	2022	2023
Net Income	77.68M	-37.11M	85.64M	74.82M	104M
Depreciation & Amortization - CF	4.02M	17M	16.17M	21.55M	54.93M
Amortization of Goodwill and Intangible Assets - (CF)	29.18M	30.88M	28.44M	29.47M	34.56M
Depreciation & Amortization, Total	33.21M	47.87M	44.62M	51.02M	89.49M
(Gain) Loss From Sale Of Asset	-2.34M	466K	-3.55M	-108K	1.45M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	2.77M	-
Asset Writedown & Restructuring Costs	2.62M	127M	7.45M	14.88M	9.86M
(Income) Loss On Equity Investments - (CF)	-	-508K	709K	-	-
Stock-Based Compensation (CF)	583K	924K	836K	1M	792K
Other Operating Activities, Total	2.53M	-22.45M	-6.96M	5.32M	-13.38M
Change In Accounts Receivable	-10.38M	7.94M	-3.75M	-10.19M	-3.39M
Change In Inventories	1.07M	-1.97M	-1.37M	-2.05M	-1.54M
Change In Accounts Payable	9.43M	11.6M	4.13M	-1.38M	-18.62M
Change in Unearned Revenues	5.43M	5.73M	13.68M	12.29M	14.03M
Change in Other Net Operating Assets	-6.87M	-5.95M	-2.13M	-5.59M	1.82M
Cash from Operations	113M	134M	139M	143M	185M
Capital Expenditure	-5.17M	-4.2M	-6.44M	-6.77M	-30.12M
Sale of Property, Plant, and Equipment	11.29M	12.62M	6.46M	1.13M	1.69M
Cash Acquisitions	-330M	-	-	-247M	-291M
Divestitures	-	-	7.5M	-	-
Sale (Purchase) of Real Estate properties	-	-	-	-1.9M	-
Sale (Purchase) of Intangible assets	-2.14M	-1.43M	-324K	-3.99M	-2.04M
Investment in Marketable and Equity Securities, Total	-	-19.1M	-	-	-
Other Investing Activities, Total	-	-	-	-	1.87M
Cash from Investing	-326M	-12.1M	7.2M	-258M	-320M
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	327M	20M	-	276M	319M
Total Debt Issued	327M	20M	-	276M	319M
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-73.85M	-122M	-118M	-133M	-154M
Total Debt Repaid	-73.85M	-122M	-118M	-133M	-154M
Repurchase of Common Stock	-5.23M	-18.87M	-2.18M	-14.62M	-4.17M
Common Dividends Paid	-16.71M	-4.63M	-9.14M	-20.52M	-24.41M
Common & Preferred Stock Dividends Paid	-16.71M	-4.63M	-9.14M	-20.52M	-24.41M
Other Financing Activities, Total	-1.69M	-711K	-665K	-2.22M	-340K
Cash from Financing	230M	-126M	-130M	105M	136M
Foreign Exchange Rate Adjustments	1.21M	-1.61M	141K	8.58M	-1.45M
Miscellaneous Cash Flow Adjustments	-	-	-131K	-	-
Net Change in Cash	18.43M	-6.44M	16.93M	-1.75M	-584K
Supplemental Items
Cash Interest Paid	15.4M	15.83M	10.08M	11.78M	50.29M
Cash Income Tax Paid (Refund)	22.54M	10.3M	27.45M	17.57M	29.02M
Levered Free Cash Flow	94.33M	6.28M	98.25M	142M	112M
Unlevered Free Cash Flow	105M	26.58M	113M	158M	159M
Change In Net Working Capital	-7.43M	72.54M	3.5M	-35.19M	12.84M
Net Debt Issued / Repaid	254M	-102M	-118M	143M	165M

Fiscal Period: November	2019	2020	2021	2022	2023
Profitability
Return on Assets	4.94	3.05	3.98	3.87	4.52
Return on Total Capital	6.82	3.98	5.05	4.99	5.78
Return On Equity %	12.18	-5.91	13.96	10.95	13.6
Return on Common Equity	12.19	-5.95	13.93	10.91	13.56
Margin Analysis
Gross Profit Margin %	82.26	87.08	89.32	84.02	62.22
EBITDA Margin %	26.75	24.45	28.42	23.24	20.02
EBITA Margin %	26.02	23.54	27.75	22.4	18.46
EBIT Margin %	20.73	17.5	22.6	18.29	15.5
Income From Continuing Operations Margin %	14.11	-7.22	15.57	10.49	8.94
Net Income Margin %	14.1	-7.26	15.52	10.44	8.9
Net Avail. For Common Margin %	14.1	-7.26	15.52	10.44	8.9
Normalized Net Income Margin	11.19	8.85	12.74	9.64	6.37
Levered Free Cash Flow Margin	17.12	1.23	17.8	19.86	9.55
Unlevered Free Cash Flow Margin	19.12	5.2	20.52	22.12	13.56
Asset Turnover
Asset Turnover	0.38	0.28	0.28	0.34	0.47
Fixed Assets Turnover	28.48	9.54	6.76	4.37	4.3
Receivables Turnover (Average Receivables)	9.57	4.84	3.77	4.65	7.22
Inventory Turnover (Average Inventory)	16.91	7.79	5.86	7.83	22.51
Short Term Liquidity
Current Ratio	0.6	0.57	0.65	0.61	0.64
Quick Ratio	0.46	0.52	0.59	0.52	0.54
Operating Cash Flow to Current Liabilities	0.45	0.36	0.39	0.33	0.42
Days Sales Outstanding (Average Receivables)