Morguard Real Estate Investment Trust (TSX:MRT.UN)

TSX:MRT.UN Cash Flow Statement

Financials in millions CAD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	1.14	-16.56	-58.82	-74.45	-86.1	4.89
Depreciation & Amortization	46.15	63.75	121.05	138.13	156.16	-
Other Adjustments	5.28	1.31	1.89	2	3.9	0.84
Change in Receivables	1.29	-	-	-	-	-
Changes in Accounts Payable	2.91	-	-	-	-	-
Changes in Other Operating Activities	-12.9	-8.09	-8.93	0.64	0.01	8.55
Operating Cash Flow	43.41	40.41	55.19	66.32	73.97	80.19
Operating Cash Flow Growth	-15.28%	-26.78%	-16.78%	-10.34%	-7.76%	70.91%
Capital Expenditures	-36.68	-36.33	-43.07	-39.04	-32.42	-17.05
Sale of Property, Plant & Equipment	-	-	37.05	-	-	14.5
Payments for Business Acquisitions	-	-	-	-	-	-0.4
Investing Cash Flow	-36.68	-36.33	-6.02	-39.04	-32.42	-2.95
Short-Term Debt Issued	36.33	38	79.34	67	48.1	-21.89
Short-Term Debt Repaid	-29.11	-18.11	-90	-43.89	-	-
Net Short-Term Debt Issued (Repaid)	7.23	19.89	-10.66	23.12	48.1	-21.89
Long-Term Debt Issued	123.39	161.47	360.9	286.53	132.69	363.75
Long-Term Debt Repaid	-132.74	-181.62	-380.61	-322.5	-207.33	-380.95
Net Long-Term Debt Issued (Repaid)	-9.35	-20.15	-19.71	-35.97	-74.64	-17.21
Common Dividends Paid	-2.97	-3.78	-15.3	-15.2	-16.03	-16.47
Other Financing Activities	-0.66	-0.85	-2.89	-1.67	-0.54	-19.05
Financing Cash Flow	-5.76	-4.89	-48.56	-29.72	-43.11	-74.62
Net Cash Flow	0.97	-0.81	0.62	-2.43	-1.56	2.62
Free Cash Flow	6.73	4.08	12.12	27.28	41.55	63.14
Free Cash Flow Growth	65.04%	-66.38%	-55.56%	-34.34%	-34.19%	318.04%
FCF Margin	2.81%	1.70%	4.68%	10.70%	17.12%	26.15%
Free Cash Flow Per Share	0.14	0.06	0.19	0.42	0.65	0.98
Levered Free Cash Flow	-1.5	2.51	-20.14	12.43	118.15	63.85
Unlevered Free Cash Flow	107.22	127.18	193.69	221.78	242.12	109.7

Updated Apr 29, 2026. Data Source: Fiscal.ai. Real Estate template. Financial Sources.