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MCAN Mortgage Corporation (T:MKP)

Business Focus: Consumer Lending (NEC)

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 fiscal year ended 31 December 2023, MCAN Mortgage Corp revenues increased 50% to C$245.9M. Net income increased 40% to C$77.5M. Revenues reflect Mortgage interest- Net Investment Income increase of 64% to C$166M, Mortgage interest - Securitization Incom increase of 25% to C$39.3M, Interest on cash and other income increase from C$1.5M to C$4.1M.
Employees: 128 as of Dec 31, 2022
Reporting Currency: Canadian Dollars
Enterprise value: $4,705M as of Dec 31, 2023
Annual revenue (TTM): $245.88M as of Dec 31, 2023
EBITDA (TTM): $78.97M as of Dec 31, 2023
Net annual income (TTM): $77.50M as of Dec 31, 2023
Free cash flow (TTM): -$95.59M as of Dec 31, 2023
Net Debt Last Fiscal Year: $4,121M as of Dec 31, 2023
Shares outstanding: 35,695,267 as of Feb 23, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization