Company DescriptionMelcor Developments Ltd. operates as a real estate development company in the United States and Canada. The company operates through Community Development, Property Development, REIT, Investment Property, and Recreational Property segments. It develops, manages, and owns mixed-use residential communities, business and industrial parks, office buildings, retail centers, and golf courses. The company purchases and develops land to be sold as residential, industrial, and commercial lots; develops, constructs, and leases retail, office, and industrial properties; and owns and leases commercial, retail, and residential properties, as well as parking lots and land. It also owns and manages three 18-hole golf courses. Melcor Developments Ltd. was founded in 1923 and is headquartered in Edmonton, Canada.

How the Company Makes Money

Melcor Developments Financial Statement Overview

Summary

Melcor Developments exhibits solid financial performance with strengths in revenue growth and cash flow generation. The balance sheet is strong with a high equity ratio and improved debt-to-equity ratio. While profitability margins have faced pressure, the overall financial health remains robust.

Income Statement

Positive

Melcor Developments has demonstrated steady revenue growth with a notable increase of 10.86% from 2023 to 2024. The gross profit margin stands at 45.04% for 2024, indicating efficient cost control. However, the net profit margin has decreased to 9.59% from 19.98% in 2023, reflecting challenges in maintaining profitability. The EBIT and EBITDA margins are healthy at 24.09% and 23.75% respectively, though slightly lower than previous years.

Balance Sheet

Positive

The company's balance sheet shows a strong equity position with an equity ratio of 58.93%, indicating financial stability. The debt-to-equity ratio has improved to 0.49, reflecting prudent financial management. Return on equity is moderate at 2.70%, suggesting room for improvement in asset utilization and profitability.

Cash Flow

Positive

Melcor Developments reports a robust free cash flow with a significant growth rate of 103.13% from 2023 to 2024. The operating cash flow to net income ratio is strong at 2.94, indicating solid cash generation capabilities. The free cash flow to net income ratio is 2.91, demonstrating effective conversion of earnings into cash.

Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Breakdown
Income Statement		Total Revenue
349.50M	315.24M	241.75M	315.63M	226.82M
	Gross Profit
157.39M	142.35M	118.26M	140.13M	98.22M
	EBIT
84.22M	106.87M	126.97M	82.15M	115.04M
	EBITDA
83.03M	104.77M	96.59M	83.48M	116.45M
	Net Income Common Stockholders
33.53M	62.98M	89.35M	56.31M	11.46M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
58.11M	34.69M	80.47M	59.92M	29.20M
	Total Assets
2.11B	2.10B	2.17B	2.11B	2.00B
	Total Debt
611.34M	670.17M	740.37M	716.91M	721.79M
	Net Debt
557.00M	635.48M	659.90M	656.99M	692.59M
	Total Liabilities
865.92M	887.89M	988.71M	997.46M	923.86M
	Stockholders Equity
1.24B	1.21B	1.18B	1.12B	1.08B
Cash Flow		Free Cash Flow
97.69M	48.09M	17.62M	71.60M	52.06M
	Operating Cash Flow
98.63M	48.81M	18.35M	72.82M	53.12M
	Investing Cash Flow
2.69M	4.63M	18.33M	-17.68M	-17.41M
	Financing Cash Flow
-82.08M	-98.97M	-17.26M	-24.56M	-43.22M

Melcor Developments Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MODVF		$306.83M	17.12	2.04%	3.11%	―	―
GDC	80 Outperform	C$178.06M	4.61	15.16%	―	49.81%	81.65%
HMT	72 Outperform	C$147.00M	7.57	8.80%	―	93.57%	-1.26%
DRM	70 Neutral	C$834.45M	4.87	11.76%	3.10%	13.04%	―
WFC	69 Neutral	C$471.46M	17.28	16.17%	―	32.27%	23.95%
Sector *	61 Neutral	$2.83B	10.92	0.41%	8438.90%	5.75%	-21.03%
MRT.UN	59 Neutral	C$374.45M	―	-3.77%	4.15%	0.18%	68.25%

* Real Estate Sector Average

Performance Comparison

MODVF

Melcor Developments

10.16

1.82

21.82%

TSE:DRM

DREAM Un Cl A

19.76

2.16

12.27%

TSE:GDC

Genesis Land Dev

3.14

>-0.01

-0.32%

TSE:HMT

Halmont Properties

0.95

0.30

46.15%

TSE:MRT.UN

Morguard Real Estate ate

5.78

0.52

9.89%

TSE:WFC

Wall Financial

14.69

-5.90

-28.65%

Glossary

OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.

NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.

UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

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