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Major Canadian meat and protein producer, also making plant-based protein products under brands like Maple Leaf, Lightlife and Field Roast.
Major Canadian meat and protein producer, also making plant-based protein products under brands like Maple Leaf, Lightlife and Field Roast.
Sells packaged meats under its own brands to grocery chains, and fresh pork and chicken where margins follow hog and feed prices and exports to Asia, so earnings swing more than the branded packaged lines. It sold its bread business in 2014 to concentrate on protein; the McCain family remains a major shareholder.
In one line: A Canadian protein/packaged meats producer like a smaller Tyson Foods.
Moat: narrow (brand, scale). Established Canadian meat brand and processing scale give distribution advantages, though the category is competitive.
Headquarters: Mississauga, Canada · Founded: 1991
Size Maple Leaf Foods (MFI.TO) is a Canada Consumer Staples company (Food Distributors) with a market value of $2.39B, the 174th largest of 420 Canada companies the cockpit tracks. Shares closed at C$26.90 on 6 Nov 2026.
Performance Over six months the shares fell 13.1%, against -13.1% for the median peer and +5.2% for the Canada market (cap-weighted) — 7th highest of 14 in its peer set.
Growth Revenue fell 17.4% over the last twelve months (peer median +4.6%); the operating margin is 7.8% (peer median 2.7%).
Valuation It trades at 16.1× forward earnings against a peer median of 13.8× (4th most expensive of 11).
Price implies For today's price to make sense, revenue must grow about 2% a year for seven years (Req g). Recent delivered growth is -2%, so the hurdle is +4 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 2.7 points above its cost of capital (6.9% WACC).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$4.01B | C$3.91B | C$3.63B | C$4.84B | C$4.74B |
| Revenue growth | — | +8% | -25% | +2% | — |
| Gross profit | C$707M | C$666M | C$621M | C$470M | C$440M |
| EBITDA | C$500M | C$504M | C$494M | C$337M | C$242M |
| Net income | C$500M | C$542M | C$96.6M | -C$125M | -C$312M |
| Free cash flow | C$246M | C$304M | C$366M | -C$24.3M | -C$329M |
| Capital expenditure | C$122M | C$125M | C$95.5M | C$198M | C$356M |
| Total debt | C$1.22B | C$1.23B | C$1.88B | C$2.13B | C$1.89B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Maple Leaf Foods MFI.TO | $2.39B | -13% | -17% | 8% | 16.1× | 2.4% |
| Tyson Foods TSN | $20.6B | -13% | +3% | 3% | 17.4× | 6.7% |
| JBS JBS | $13.4B | -23% | +334% | 4% | 11.8× | -6.5% |
| Premium Brands PBH.TO | $2.86B | -13% | +20% | 5% | 12.2× | 7.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MFI.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.8% | +2.8% | 3rd highest of 14 |
| 6-month return | -13.1% | -13.1% | 7th highest of 14 |
| Distance from 52-week high | -15.6% | -19.7% | 4th highest of 14 |
| Revenue growth (TTM) | -17.4% | +4.6% | lowest of 14 |
| Operating margin | 7.8% | 2.7% | 3rd highest of 14 |
| Forward P/E | 16.1× | 13.8× | 4th most expensive of 11 |
| Growth the price implies (Req g, 7 yrs) | 2.4% | 9.0% | 3rd least demanding of 12 |
| Growth delivered (Del g) | -1.9% | +6.3% | 2nd lowest of 12 |
| Hurdle (Req g minus delivered) | +4.3 pp | -5.5 pp | 4th most demanding of 12 |
| ROIC minus cost of capital | +2.7 pp | -1.2 pp | 3rd highest of 13 |
| EV / EBITDA | 8.7× | 11.7× | 2nd cheapest of 6 |
| Net debt / EBITDA | 2.0× | 2.6× | 5th least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Maple Leaf Foods MFI.TO | Canada | $2.39B | -13% | -17% | 8% | 16.1× | 2.4% | -1.9% |
| Metcash MTS.AX | Australia | $2.55B | +12% | 0% | 3% | 14.1× | 0.9% | +3.9% |
| United Natural Foods UNFI | United States | $2.73B | -13% | -2% | 1% | 13.6× | 6.5% | +2.9% |
| Premium Brands PBH.TO | Canada | $2.86B | -13% | +20% | 5% | 12.2× | 7.4% | +12.9% |
| Kato Sangyo 9869.T | Japan | $1.35B | +10% | +2% | 1% | n/a | -9.5% | +1.9% |
| Dole DOLE | United States | $1.31B | -7% | +8% | 2% | 10.6× | 4.1% | +16.1% |
| Chefs' Warehouse CHEF | United States | $4.51B | +27% | +12% | 4% | 36.3× | 22.6% | +30.1% |
| Jiangxi Huangshanghuang Group Food 002695.SZ | China | $880M | -14% | +17% | 7% | 39.9× | 14.7% | -7.1% |
| Young & Co.'s Brewery, P.L.C YNGA.L | United Kingdom | $822M | +52% | +5% | 14% | 15.4× | 9.0% | +42.0% |
| Agencia Comercial Spirits AGCC | United States | $804M | -24% | +145% | 13% | n/a | n/a | n/a |
| Krispy Kreme DNUT | United States | $723M | +16% | -5% | 0% | 50.0× | 23.2% | +6.3% |
| Shanghai Bright Meat 600073.SS | China | $702M | -15% | +3% | -3% | 8.5× | 37.0% | -1.5% |
| Busy Ming 1768.HK | Hong Kong | $8.31B | -36% | +68% | 5% | 11.3× | 16.0% | +143.4% |
| COFCO Joycome Foods 1610.HK | Hong Kong | $669M | -18% | -8% | -10% | n/a | n/a | n/a |