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Mullen Group Ltd.

Financial Statements (IFRS) · Amounts in CAD
5 10 All
Income Statement
Balance Sheet
Cash Flow
Line Item Q4 2025Dec 31, 2025 Q2 2025Jun 30, 2025 Q1 2025Mar 31, 2025 Q4 2024Dec 31, 2024 Q3 2024Sep 30, 2024 Q2 2024Jun 30, 2024
Total Revenue 533.9M 540.9M 497.1M 499.0M 532.0M 495.6M
Operating Revenue 533.9M 540.9M 497.1M 499.0M 532.0M 495.6M
Cost Of Revenue 415.3M 412.1M 389.5M 385.5M 399.8M 372.9M
Gross Profit 118.6M 128.8M 107.6M 113.6M 132.2M 122.7M
Selling General And Administration 83.8M 87.7M 73.8M 64.0M 71.9M 69.4M
Other Operating Expenses 6,000 6,000 6,000 6,000 6,000 5,000
Operating Expense 83.8M 87.7M 73.8M 64.0M 71.9M 69.4M
Operating Income 34.9M 41.1M 33.8M 49.5M 60.3M 53.3M
EBIT 39.9M 44.5M 36.1M 46.4M 62.8M 54.0M
Interest Expense 21.0M 12.7M 11.5M 16.8M 12.2M 10.2M
Interest Expense Non Operating 21.0M 12.7M 11.5M 16.8M 12.2M 10.2M
Net Interest Income -14.5M -12.7M -11.5M -10.7M -12.2M -10.2M
Other Income Expense -1.4M 3.3M 2.3M -9.3M 2.4M 669,000
Special Income Charges -1.9M -3.7M 1.2M -188,000 -360,000 -474,000
Gain On Sale Of Security 945,000 7.0M 748,000 -8.3M 2.9M -129,000
Earnings From Equity Interest -423,000 59,000 370,000 -769,000 -74,000 1.3M
Pretax Income 19.0M 31.8M 24.7M 29.6M 50.6M 43.8M
Tax Provision 4.4M 6.2M 7.0M 10.8M 12.2M 10.9M
Tax Effect Of Unusual Items -221,653 639,660 545,420 -3.1M 602,802 -150,368
Net Income From Continuing And Discontinued Operation 14.6M 25.6M 17.7M 18.8M 38.4M 32.9M
Net Income From Continuing Operation Net Minority Interest 14.6M 25.6M 17.7M 18.8M 38.4M 32.9M
Net Income Including Noncontrolling Interests 14.6M 25.6M 17.7M 18.8M 38.4M 32.9M
Net Income Common Stockholders 14.6M 25.6M 17.7M 18.8M 38.4M 32.9M
Net Income 14.6M 25.6M 17.7M 18.8M 38.4M 32.9M
EBITDA 78.5M 79.9M 70.3M 81.8M 97.7M 86.4M
Normalized EBITDA 79.5M 76.7M 68.3M 90.3M 95.2M 87.0M
Reconciled Depreciation 38.6M 35.5M 34.1M 35.5M 35.0M 32.4M
Basic EPS -- 0.29 0.20 -- 0.44 0.37
Diluted EPS -- 0.28 0.20 -- 0.41 0.36
Basic Average Shares -- 87.4M 87.6M -- 87.7M 88.0M
Diluted Average Shares -- 96.8M 87.8M -- 97.0M 97.1M
Total Unusual Items -963,000 3.3M 1.9M -8.5M 2.5M -603,000
Total Unusual Items Excluding Goodwill -963,000 3.3M 1.9M -8.5M 2.5M -603,000
Tax Rate For Calcs 0.23 0.20 0.28 0.36 0.24 0.25
Normalized Income 15.3M 22.9M 16.3M 24.2M 36.5M 33.3M
Average Dilution Earnings -- 1.8M 0.00 -- 1.8M 1.8M
Diluted NI Availto Com Stockholders 44.2M 27.4M 17.7M 13.5M 40.1M 34.6M
Gain On Sale Of Ppe -1.9M -3.7M 1.2M -188,000 -360,000 -474,000
Net Income Continuous Operations 14.6M 25.6M 17.7M 18.8M 38.4M 32.9M
Net Non Operating Interest Income Expense -14.5M -12.7M -11.5M -10.7M -12.2M -10.2M
Reconciled Cost Of Revenue 415.3M 412.1M 389.5M 385.5M 399.8M 372.9M
Total Expenses 499.0M 499.8M 463.3M 449.5M 471.7M 442.3M
Line Item Q4 2025Dec 31, 2025 Q2 2025Jun 30, 2025 Q1 2025Mar 31, 2025 Q4 2024Dec 31, 2024 Q3 2024Sep 30, 2024 Q2 2024Jun 30, 2024
Cash And Cash Equivalents 144.6M 176.7M 131.2M 126.3M 344.4M 4.0M
Cash Cash Equivalents And Short Term Investments 144.6M 176.7M 131.2M 126.3M 344.4M 4.0M
Accounts Receivable 260.6M 276.3M 256.5M 256.4M 269.8M 251.2M
Receivables 319.2M 342.7M 312.2M 299.8M 322.6M 297.7M
Inventory 45.1M 47.8M 46.6M 45.7M 47.1M 48.9M
Prepaid Assets 28.2M 29.1M 24.7M 22.6M 30.9M 36.4M
Current Assets 563.8M 596.2M 514.7M 494.4M 773.5M 417.0M
Gross PPE 2.3B 1.3B 1.2B 2.2B 1.3B 1.3B
Accumulated Depreciation -963.3M -- -- -946.5M -94.1M -81.9M
Net PPE 1.3B 1.3B 1.2B 1.3B 1.2B 1.3B
Goodwill 447.7M 451.2M 374.9M 374.2M 368.9M 369.4M
Goodwill And Other Intangible Assets 640.3M 647.1M 485.1M 486.4M 474.9M 481.1M
Other Intangible Assets 192.6M 195.9M 110.2M 112.2M 106.1M 111.7M
Investments And Advances 43.3M 44.3M 44.2M 44.2M 45.0M 45.1M
Long Term Equity Investment 41.6M -- -- 42.5M -- --
Other Investments 1.7M -- -- 1.7M -- --
Other Non Current Assets 17.3M 12.0M 8.1M 5.9M 2.3M 2.3M
Total Non Current Assets 2.0B 2.0B 1.8B 1.8B 1.8B 1.8B
Total Assets 2.6B 2.6B 2.3B 2.3B 2.6B 2.2B
Current Debt 26,000 207.4M 7.2M 25,000 246.0M 341.5M
Current Debt And Capital Lease Obligation 45.9M 252.1M 49.8M 43.5M 287.8M 382.7M
Accounts Payable 71.0M 202.8M 171.5M 54.5M 180.9M 166.5M
Payables 214.2M 211.1M 178.1M 169.5M 188.9M 172.6M
Payables And Accrued Expenses 214.2M 211.1M 178.1M 169.5M 188.9M 172.6M
Current Liabilities 260.1M 463.2M 227.9M 212.9M 476.7M 555.3M
Long Term Debt 791.5M 757.2M 770.2M 769.8M 752.4M 355.5M
Long Term Debt And Capital Lease Obligation 1.0B 936.5M 945.2M 954.1M 936.6M 547.2M
Long Term Capital Lease Obligation 217.1M 179.4M 175.0M 184.3M 184.1M 191.7M
Total Non Current Liabilities Net Minority Interest 1.2B 1.1B 1.1B 1.1B 1.1B 695.2M
Total Liabilities Net Minority Interest 1.4B 1.6B 1.3B 1.3B 1.6B 1.3B
Common Stock 909.0M 794.5M 795.0M 797.8M 797.5M 797.5M
Capital Stock 909.0M 794.5M 795.0M 797.8M 797.5M 797.5M
Additional Paid In Capital 30.7M 21.3M 21.1M 20.9M 20.7M 20.5M
Retained Earnings 197.7M 189.7M 182.9M 184.8M 184.4M 163.7M
Gains Losses Not Affecting Retained Earnings 3.0M 2.8M 4.3M 4.3M 2.8M 3.1M
Other Equity Adjustments 3.0M 2.8M 4.3M 4.3M 2.8M 3.1M
Common Stock Equity 1.1B 1.0B 1.0B 1.0B 1.0B 993.9M
Stockholders Equity 1.1B 1.0B 1.0B 1.0B 1.0B 993.9M
Total Equity Gross Minority Interest 1.1B 1.0B 1.0B 1.0B 1.0B 993.9M
Total Capitalization 1.9B 1.8B 1.8B 1.8B 1.8B 1.3B
Net Tangible Assets 500.2M 370.3M 527.4M 530.4M 539.5M 512.8M
Tangible Book Value 500.2M 370.3M 527.4M 530.4M 539.5M 512.8M
Working Capital 303.6M 133.0M 286.7M 281.5M 296.8M -138.3M
Invested Capital 1.9B 2.0B 1.8B 1.8B 2.0B 1.7B
Total Debt 1.1B 1.2B 995.0M 997.6M 1.2B 929.9M
Net Debt 646.9M 787.9M 646.3M 643.5M 654.0M 693.0M
Share Issued 95.7M 87.3M 87.5M 87.7M 87.6M 87.8M
Ordinary Shares Number 95.7M 87.3M 87.5M 87.7M 87.6M 87.8M
Allowance For Doubtful Accounts Receivable -4.9M -- -- -9.5M -- --
Available For Sale Securities -- -- -- 1.7M -- --
Capital Lease Obligations 263.0M 224.0M 217.6M 227.8M 225.9M 233.0M
Current Capital Lease Obligation 45.9M 44.6M 42.6M 43.4M 41.8M 41.2M
Dividends Payable 6.7M 6.1M 6.1M 6.1M 6.1M 5.3M
Duefrom Related Parties Current 100,000 -- -- -- -- --
Dueto Related Parties Current 3,000 -- -- 5,000 -- --
Financial Assets 0.00 24.4M 31.1M 30.6M 22.6M 23.5M
Gross Accounts Receivable 265.6M -- -- 265.9M -- --
Hedging Assets Current 26.6M -- -- 0.00 28.5M 30.0M
Investmentin Financial Assets -- -- -- 1.7M -- --
Investmentsin Associatesat Cost -- -- -- 42.5M -- --
Land And Improvements 686.6M -- -- 659.2M -- --
Leases 320.8M -- -- 268.9M 270.1M 266.9M
Line Of Credit -- 207.4M 7.2M 0.00 0.00 93.3M
Long Term Provisions 1.7M 1.7M 1.7M 1.7M 1.6M 1.6M
Non Current Deferred Assets 1.0M 1.1M 7.0M 7.1M 7.3M 7.3M
Non Current Deferred Liabilities 159.5M 159.8M 145.4M 146.9M 145.4M 146.3M
Non Current Deferred Taxes Assets 1.0M 1.1M 7.0M 7.1M 7.3M 7.3M
Non Current Deferred Taxes Liabilities 159.5M 159.8M 145.4M 146.9M 145.4M 146.3M
Other Current Borrowings 26,000 25,000 25,000 25,000 246.0M 248.2M
Other Equity Interest -- 9.1M 9.1M 9.1M 9.1M 9.1M
Other Payable 133.1M -- -- 104.5M -- --
Other Properties 390.7M 1.3B 1.2B 412.0M 1.1B 1.1B
Other Receivables 40.9M 52.1M 46.8M 35.9M 44.5M 39.2M
Taxes Receivable 17.6M 14.3M 8.9M 7.5M 8.3M 7.3M
Total Tax Payable 3.3M 2.2M 509,000 4.3M 1.9M 860,000
Treasury Shares Number -- -- -- -- -- 0.00
Line Item Q4 2025Dec 31, 2025 Q2 2025Jun 30, 2025 Q1 2025Mar 31, 2025 Q4 2024Dec 31, 2024 Q3 2024Sep 30, 2024 Q2 2024Jun 30, 2024
Operating Cash Flow 85.6M 77.8M 39.9M 111.4M 66.2M 79.8M
Cash Flow From Continuing Operating Activities 85.6M 77.8M 39.9M 111.4M 66.2M 79.8M
Depreciation And Amortization 38.6M 35.5M 34.1M 35.5M 35.0M 32.4M
Depreciation Amortization Depletion 38.6M 35.5M 34.1M 35.5M 35.0M 32.4M
Stock Based Compensation 355,000 294,000 264,000 273,000 221,000 232,000
Deferred Tax 4.4M 6.2M 7.0M 10.8M 12.2M 10.9M
Deferred Income Tax 4.4M 6.2M 7.0M 10.8M 12.2M 10.9M
Change In Working Capital 22.3M 18.1M -13.4M 28.6M -14.7M 3.2M
Other Non Cash Items 14.5M 12.7M 11.5M 12.2M 12.2M 10.2M
Capital Expenditure -30.4M -23.4M -13.7M -21.7M -11.6M -19.1M
Purchase Of PPE -30.4M -23.4M -13.7M -21.7M -11.6M -19.1M
Net PPE Purchase And Sale -27.7M -16.3M -8.7M -15.9M -8.2M -14.7M
Purchase Of Business -115,000 -167.1M -1.6M -30.2M 1.4M -30.2M
Sale Of Investment 963,000 -- -- 289,000 149,000 --
Net Investment Purchase And Sale 963,000 -- -- 289,000 149,000 --
Investing Cash Flow -27.8M -182.6M -8.7M -45.7M -2.9M -43.8M
Cash Flow From Continuing Investing Activities -27.8M -182.6M -8.7M -45.7M -2.9M -43.8M
Issuance Of Debt -44,000 200.2M 7.2M 0.00 379.0M 2.5M
Repayment Of Debt -19.5M -12.1M -11.7M -230.3M -83.9M -9.8M
Net Issuance Payments Of Debt -19.5M 188.1M -4.5M -230.3M 295.1M -7.3M
Issuance Of Capital Stock 1.6M 467,000 0.00 322,000 152,000 51,000
Repurchase Of Capital Stock -1.0M -2.9M -2.7M -32,000 -2.0M -3.7M
Net Common Stock Issuance 582,000 -2.5M -2.7M 290,000 -1.8M -3.6M
Common Stock Dividend Paid -18.9M -18.3M -18.4M -18.4M -16.7M -15.8M
Common Stock Payments -1.0M -2.9M -2.7M -32,000 -2.0M -3.7M
Financing Cash Flow -66.4M 141.9M -26.4M -274.8M 275.6M -43.8M
Cash Flow From Continuing Financing Activities -66.4M 141.9M -26.4M -274.8M 275.6M -43.8M
Effect Of Exchange Rate Changes 2.1M 8.4M 109,000 -9.1M 1.5M -335,000
Changes In Cash -8.7M 37.1M 4.8M -209.0M 338.9M -7.8M
Beginning Cash Position 151.2M 131.2M 126.3M 344.4M 4.0M 12.1M
End Cash Position 144.6M 176.7M 131.2M 126.3M 344.4M 4.0M
Free Cash Flow 55.2M 54.4M 26.2M 89.7M 54.6M 60.8M
Amortization Cash Flow 6.6M 4.9M 4.1M -- -- 3.6M
Amortization Of Intangibles 6.6M 4.9M 4.1M -- -- 3.6M
Cash Dividends Paid -18.9M -18.3M -18.4M -18.4M -16.7M -15.8M
Common Stock Issuance 1.6M 467,000 0.00 322,000 152,000 51,000
Depreciation 32.0M 30.6M 30.0M -- -- 28.8M
Dividends Received Cfi 405,000 0.00 300,000 450,000 0.00 0.00
Earnings Losses From Equity Investments 423,000 -59,000 -370,000 -- -- -1.3M
Gain Loss On Sale Of PPE 1.9M 3.7M -1.2M -- -- 474,000
Interest Paid Cff -27.9M -24.3M -1.8M -25.1M -2.1M -16.3M
Interest Received Cfi 1.4M 1.8M 1.5M 3.1M 2.6M 258,000
Long Term Debt Issuance -44,000 -- 7.2M 0.00 -- --
Long Term Debt Payments -19.5M -12.1M -11.7M -157.3M -83.9M -9.8M
Net Business Purchase And Sale -115,000 -167.1M -1.6M -30.2M 1.4M -30.2M
Net Foreign Currency Exchange Gain Loss -3.0M -14.2M -889,000 16.3M -4.1M 329,000
Net Income From Continuing Operations 14.6M 25.6M 17.7M 18.8M 38.4M 32.9M
Net Intangibles Purchase And Sale 0.00 -- -- 0.00 -- --
Net Long Term Debt Issuance -19.5M -19.3M -4.5M -157.3M 315.4M -27.6M
Net Other Financing Charges -704,000 -1.1M 1.0M -1.2M 1.1M -767,000
Net Other Investing Changes -2.8M -1.6M -198,000 -3.4M 1.2M 820,000
Operating Gains Losses -640,000 -10.5M -2.4M 16.0M -3.6M -469,000
Purchase Of Intangibles 0.00 -- -- 0.00 -- --
Sale Of PPE 2.7M 7.0M 5.0M 5.8M 3.4M 4.4M
Taxes Refund Paid -8.8M -10.0M -14.9M -10.0M -13.3M -9.4M
Unrealized Gain Loss On Investment Securities 252,000 15,000 51,000 -- -- -96,000
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