Scully Royalty Ltd. (SRL) stock analysis
SRLNYSEMineral Royalty TradersFiscal year ends December 31
Financials through fiscal 2024, year ended Dec 31, 2024Last filing: 20-F on Apr 30, 2025
$3.81−0.26 (-6.39%)
Close on Nov 10, 2026Market cap $56.47MP/E –Yield 6.88%
Margins
Share of revenue, fiscal years 2014 to 2024
Gross margin
100.0%+0.0 pts over 5 years
Net margin
-58.3%−41.9 pts over 5 years
Growth rates
Compound annual growth to fiscal 2024
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -35.7% | -20.9% | -20.8% | – | |
| Gross profit | -35.7% | -20.9% | -20.8% | – | |
| Dividend per share | +60.9% | – | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2015 | FY2019 | FY2024 | Trend |
|---|---|---|---|---|
| Return on equity | – | -5.0% | -6.6% | |
| Return on assets | – | -3.7% | -4.6% | |
| Current ratio | – | 5.46 | 4.56 | |
| Debt to equity | – | 0.10 | 0.12 | |
| Inventory turnover | – | 0.0× | 0.0× | |
| Capex to revenue | 0.5% | 0.6% | 0.3% | |
| Diluted shares | 13M | 15M | 15M |
Where the cash went
Fiscal 2020 to 2024, five years combined
Scully Royalty generated C$116.27M from operations and spent C$27.88M on capital expenditure, dividends and share buybacks. 7% of that went back into the business.
Generated
C$116.27M
Used
C$27.88M
Capital expenditureC$1.95M7%DividendsC$25.93M93%Share buybacksC$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-58.3%
×Asset turnover0.08×
×Equity multiplier1.43×
=Return on equity, FY2024-6.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2024 | -58.3% | 0.08× | 1.43× | -6.6% |
| FY2023 | 2.5% | 0.12× | 1.43× | 0.4% |
| FY2022 | -36.7% | 0.13× | 1.43× | -6.8% |
| FY2021 | 10.6% | 0.14× | 1.40× | 2.1% |
| FY2020 | 0.6% | 0.12× | 1.42× | 0.1% |
| FY2019 | -16.4% | 0.22× | 1.37× | -5.0% |
| FY2018 | 80.3% | 0.31× | 1.36× | 33.8% |
| FY2017 | -17.5% | 0.52× | 1.73× | -15.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2024 against fiscal 2023
1of 9 tests passed in fiscal 2024. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-C$20.59M
- Cash generatingOperating cash flow above zero-C$31.54M
- Return on assets improvedROA up on the prior year0.3% → -4.6%
- Earnings backed by cashOperating cash flow above net income-C$31.54M vs -C$20.59M
- Less leverageLong-term debt to assets fell8.0% → 8.3%
- Better liquidityCurrent ratio rose8.00 → 4.56
- No dilutionShare count did not rise15M → 15M
- Gross margin improvedGross margin up on the prior year100.00% → 100.00%
- More efficientAsset turnover rose0.12 → 0.08
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