Sector: Financials | Industry: Consumer Lending |
Company Contact | |
Address: | 200 King Street West, Suite 600 TORONTO ON M5H 3T4 |
Tel: | N/A |
Website: | https://mcanfinancial.com |
IR: | See website |
Key People | ||
Karen H. Weaver President, Chief Executive Officer, Director | Floriana G. Cipollone Chief Financial Officer, Senior Vice President | Avish Buck Chief Operating Officer, Senior Vice President |
Carl Brown Senior Vice President - Investments and Corporate Development | Aaron Corr Chief Risk Officer, Vice President | Michelle Liotta Vice President of Human Resources |
Business Overview |
MCAN Mortgage Corporation is a Canada-based loan company and mortgage investment corporation. Its objective is to generate a reliable stream of income by investing in a diversified portfolio of Canadian mortgages, including residential mortgages, residential construction, non-residential construction and commercial loans, as well as other types of securities, loans, and real estate investments. Its lines of business include three divisions: MCAN Home, MCAN Capital and MCAN Wealth. MCAN Home is its residential mortgage lender that partners with accredited mortgage professionals to offer both insured and uninsured mortgage solutions across Canada. MCAN Capital focuses on financing and investment opportunities in the construction and commercial loan markets, real estate investment trusts (REITs), and private investment funds focused on lending to and developing Canadian communities. MCAN Wealth offers investors Canada Deposit Insurance Corporation (CDIC) insured investment solutions. |
Financial Overview |
For the three months ended 31 March 2024, MCAN Mortgage Corp revenues increased 25% to C$73.5M. Net income decreased less than 1% to C$23.2M. Revenues reflect Mortgage interest- Net Investment Income increase of 34% to C$48M, Mortgage interest - Securitization Incom increase of 47% to C$13.3M, Fee Income - Net Investment Income increase of 53% to C$873K. |
Employees: | 128 as of Dec 31, 2022 |
Reporting Currency: | Canadian Dollars |
Enterprise value: | $4,730M as of Mar 31, 2024 |
Annual revenue (TTM): | $260.41M as of Mar 31, 2024 |
EBITDA (TTM): | $78.49M as of Mar 31, 2024 |
Net annual income (TTM): | $77.44M as of Mar 31, 2024 |
Free cash flow (TTM): | -$27.16M as of Mar 31, 2024 |
Net Debt Last Fiscal Year: | $4,230M as of Mar 31, 2024 |
Shares outstanding: | 37,871,716 as of May 2, 2024 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |