TSX/MER (TSX/MER)

Toronto Stock Exchange: TSX/MER · CAD

CA$2.15

+0.00 (0.0%)· Recorded snapshot

Market cap	1.5B
Revenue (ttm)	1B
Net income (ttm)	-136.3M
EPS (ttm)	-CA$0.20
Shares out	676.1M
P/E (forward)	9.2x
Dividend	CA$0.21 (9.55%)
Volume	206,876
Beta	0.45

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 1B
Net income (ttm): -136.3M
EPS (ttm): -CA$0.20
P/E (forward): 9.2x
Market cap: 1.5B

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-29 19:55 UTC

Forward P/E9.2

P25 n/aP50 n/aP75 n/a

Trailing P/En/a

P25 n/aP50 n/aP75 n/a

ROE-11.9

P25 n/aP50 n/aP75 n/a

ROIC-1,334.3

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All TSX/MER indicators

Market & fundamental data

Available fields

231

Groups with data

Currency

USD

Showing 231 of 231 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	CAD
Country	Canada
Country code	CA
Earnings date	2026-11-11
Employees	50
Employees change	25
Employees growth	100%
Enterprise value	CAD 1.8B
Exchange	Toronto Stock Exchange
Financial currency	USD
Financial report date	2026-06-30
First seen	2026-05-10
Fiscal year end	December
Founded	1993
Industry	Oil & Gas Exploration & Production
Is primary listing	Yes
ISIN number	CA5889141019
Last earnings date	2026-08-11
Last refreshed	2026-10-29
Last stock split date	1999-09-22
Last stock split type	Reverse
Market cap	CAD 1.5B
Next earnings date	2026-11-11
Price	CAD 2.15
Price currency	CAD
Sector	Energy
SIC code	1311
Stock price date	2026-10-29
Symbol	tsx/MER
Website	https://mereninc.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Earnings yield	-9.46%
EV/EBIT	8.32x
EV/EBITDA	3.34x
EV/FCF	6.18x
EV/Sales	1.71x
FCF / EV yield	16.18%
FCF yield	19.59%
Forward P/E	9.16x
Industry forward P/E	13.2x
Industry P/E	19.78x
P/(FCF - SBC) ratio	5.19x
P/(OCF - SBC) ratio	3.9x
P/B ratio	1.45x
P/FCF ratio	5.11x
P/OCF ratio	3.85x
P/S ratio	1.41x
Price / tangible book value	1.55x
Price/EBITDA ratio	2.66x
Sector forward P/E	13.97x
Sector P/E	21.71x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	22.42%
EBITDA margin	53.01%
Effective tax rate	6,100%
FCF margin	28.09%
Gross margin	62.05%
Operating margin	22.42%
Pretax margin	0.22%
Profit margin	-13.24%
Profit per employee	CAD -2.7M
Profitable quarters	1
Revenue per employee	CAD 20.6M
ROA	4.81%
ROA (5Y)	-3.45%
ROCE	10.33%
ROE	-11.95%
ROE (5Y)	-3.55%
ROIC	-1,334.34%
ROIC (5Y)	-19.54%
SBC / revenue	0.44%
Tax / revenue	13.46%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth (Q)	934.83%
EPS growth quarters	1
EPS growth years	0
Gross profit growth	220.28%
Gross profit growth (Q)	4.42%
Net income growth (Q)	925.81%
Net income growth quarters	1
Net income growth years	0
OCF growth	1,384.36%
OCF growth (Q)	547.12%
Operating income growth	379.65%
Operating income growth (Q)	118.13%
Revenue growth	397.74%
Revenue growth (Q)	183.84%
Revenue growth (QoQ)	72.09%
Revenue growth quarters	2
Revenue growth years	0

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	CAD -92.6M
Depreciation and amortization	CAD 310M
EBIT	CAD 230.9M
EBITDA	CAD 545.9M
EPS	CAD -0.20
FCF per share	CAD 0.42
Financing cash flow	CAD -557.1M
Free cash flow	CAD 284.7M
Free cash flow minus SBC	CAD 280.2M
Gross profit	CAD 639M
Income taxes	CAD 138.6M
Investing cash flow	CAD -88.5M
Net borrowing	CAD -350.7M
Net cash flow	CAD -268.3M
Net income	CAD -136.3M
Operating cash flow minus SBC	CAD 372.8M
Operating income	CAD 230.9M
Revenue	CAD 1B
Stock-based compensation	CAD 4.5M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	0.52
Book value per share	CAD 1.48
Debt / EBITDA	0.76
Debt / equity	0.42
Debt / FCF	1.46
Interest coverage	5.31
Long-term assets	CAD 2.2B
Long-term liabilities	CAD 1.2B
Net cash (debt)	CAD -306.2M
Net cash / market cap	-21.06%
Net debt / EBITDA	0.56
Net debt / equity	0.31
Net debt / FCF	1.08
Piotroski F-Score	4
Property, plant and equipment	CAD 1.9B
Shareholders' equity	CAD 1B
Tangible book value	CAD 936.6M
Tangible book value per share	CAD 1.39
Total assets	CAD 2.6B
Total cash	CAD 110.3M
Total debt	CAD 416.5M
Total liabilities	CAD 1.6B
WACC	-134.18%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.34
Current assets	CAD 414M
Current liabilities	CAD 363.9M
Current ratio	1.14
Inventory turnover	2.8
Net working capital	CAD -58.1M
Quick ratio	0.74
Working capital	CAD 50.8M
Working capital turnover	13.2

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	-33.21%
Dividend growth	32.17%
Dividend growth (3Y)	44.14%
Dividend growth years	1
Dividend payment date	2026-09-04
Dividend payment years	5
Dividend payout frequency	Quarterly
Dividend per share	CAD 0.21
Dividend yield	9.55%
Ex-dividend date	2026-08-20
FCF payout ratio	48.76%
Last dividend	CAD 0.05
Shareholder yield	-23.66%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	5.15%
10Y return CAGR	3.18%
10Y total return	36.75%
150-day SMA	CAD 2.20
15Y price change	30.79%
15Y return CAGR	3.61%
15Y total return	70.11%
1D price change	0%
1M price change	0.23%
1M total return	0.23%
1W price change	2.63%
1W total return	2.63%
1Y price change	23.28%
1Y return CAGR	35.78%
1Y total return	35.75%
20-day SMA	CAD 2.10
200-day SMA	CAD 2.19
20Y price change	-38.71%
20Y return CAGR	-1.13%
20Y total return	-20.29%
3M price change	8.33%
3M total return	10.84%
3Y price change	-16.86%
3Y return CAGR	0.94%
3Y total return	2.85%
50-day SMA	CAD 2.18
50-day SMA vs 200-day SMA	50under200
52-week high	CAD 2.58
52-week high date	2026-03-31
52-week low	CAD 1.67
52-week low date	2025-11-25
5Y price change	7.25%
5Y return CAGR	6.88%
5Y total return	39.49%
6M price change	-12.45%
6M total return	-8.44%
All-time high	CAD 15.25
All-time high date	1996-05-17
All-time low	CAD 0.15
All-time low date	1998-09-29
Average true range (ATR)	CAD 0.05
Average volume	374.8K
Beta (1Y)	-0.07
Beta (2Y)	0.56
Beta (5Y)	0.45
Change from 52-week high	-16.5%
Change from 52-week low	28.74%
Change from all-time high	-85.93%
Change from all-time low	1,330%
Change from open	-1.38%
Day's gap	1.4%
Dollar volume	CAD 444,783
High price	CAD 2.18
Low price	CAD 2.13
Monthly RSI	51.06
Open price	CAD 2.18
Position in 52-week range	40%
Previous close	CAD 2.15
Price vs 150-day SMA	-2.5%
Price vs 20-day SMA	2.29%
Price vs 200-day SMA	-1.92%
Price vs 50-day SMA	-1.47%
Relative volume	0.55
RSI	52.95
Sharpe ratio	0.91
Sharpe ratio (3Y)	0.09
Sharpe ratio (5Y)	0.27
Sortino ratio	1.53
Sortino ratio (3Y)	0.29
Sortino ratio (5Y)	0.54
Volume	206.9K
Weekly RSI	50.23
YTD price change	19.17%
YTD total return	27.48%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	433.4M
Shares change (QoQ)	1.83%
Shares change (YoY)	33.21%
Shares held by insiders	0.38%
Shares held by institutions	23.04%
Shares outstanding	676.1M

Deeper analysis on TSX/MER

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

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Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

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Sensitivity

Cost-of-equity and terminal-growth stress table.

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Risks

Kill scenarios, soft-pass flags, and downside catalysts.

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Earnings

Next earnings setup and beat / inline / miss thresholds.

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Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

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Financials

Revenue, margins, cash flow, and balance-sheet context.

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Peers

Relative valuation and profitability against the cohort.

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Moat

Economic-profit evidence and competitive advantage risk.

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Industry cycle

Sector phase, capital cycle, and secular tailwinds.

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Frequently asked questions

About this TSX/MER report

Is a complete TSX/MER research report available?

No complete published report is available for tsx/MER (TSX/MER) on this page. Market-directory data, when present, is not a substitute for a validated stock analysis.

TSX/MER (TSX/MER)

Price

Financial snapshot

Fair-value bridge

Latest news · TSX/MER

Valuation

Profitability

Balance sheet

Trading

Next earnings

Sector percentile context

All TSX/MER indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on TSX/MER

Frequently asked questions