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MCAN Mortgage Corporation (T:MKP)

Business Focus: Consumer Lending

Sector:  Financials Industry:  Consumer Lending
See Regulatory Filings on SEDAR
Company Contact
Address: 200 King Street West, Suite 600
Tel: N/A
IR: See website
Key People
Karen H. Weaver
President, Chief Executive Officer, Director
Nazeera Khan
Chief Audit Officer
Floriana Cipollone
Chief Financial Officer, Vice President
Michael Edward Jensen
Chief Compliance Officer, Vice President (Chief Anti Money Laundering & Privacy Officer)
Emily Randle
Chief Risk Officer, Vice President
Milica Pejic
Vice President - Finance
Sylvia Pinto
Vice President, Corporate Secretary, Governance Officer
Carl Brown
Vice President - Investments
Avish Buck
Vice President - Residential Lending
Paul Gill
Vice President - Information Technology
Business Overview
MCAN Mortgage Corporation (MCAN) is a Canada-based loan company and mortgage investment corporation. The Company's primary objective is to generate income by investing its corporate funds in a portfolio of mortgages (including single family residential, residential construction, non-residential construction and commercial loans), as well as other types of financial investments, loans and real estate investments. The Company's primary subsidiary, Xceed Mortgage Corporation (Xceed), focuses on the origination and sale to MCAN and third party mortgage aggregators of residential first-charge mortgage products across Canada. The Company also participates in the National Housing Act (NHA) mortgage-backed securities (MBS) program.
Financial Overview
For the three months ended 31 March 2021, MCANMortgage Corporation revenues increased from C$11M toC$35.9M. Net income totaled C$15.9M vs. loss of C$9.7M.Revenues reflect Net gain (loss) on securities increasefrom -C$15.7M to C$3.9M, Other Investment Income -Investment increase of 96% to C$6.7M, Mortgage interest -Securitization Incom increase of 39% to C$6.6M.
Employees: 112 as of Dec 31, 2020
Reporting Currency: Canadian Dollars
Enterprise value: $2,764M as of Mar 31, 2021
Annual revenue (TTM): $146.59M as of Mar 31, 2021
EBITDA (TTM): $67.56M as of Mar 31, 2021
Net annual income (TTM): $68.55M as of Mar 31, 2021
Free cash flow (TTM): $16.70M as of Mar 31, 2021
Net Debt Last Fiscal Year: $2,507M as of Mar 31, 2021
Shares outstanding: 27,466,697 as of Jun 30, 2021
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization