Investors
Investor
Information
Why Invest In Mullen Group?
Since 1993 Mullen Group has been on a steadfast mission – we acquire companies and strive to improve their performance.
Mullen Group offers investors a proven business strategy of entrepreneurship, strong capital management, and growth through diversified operations and markets, with solid margins, cash flow and dividends.
Dividends Paid to Shareholders
$1,595,113,000 as at September 30, 2025
Dividends & Distributions Paid
Cumulative ($ Millions)
Financial Highlights
- Current
- Historical
- Less-Than-Truckload
- Logistics & Warehousing
- Specialized & Industrial Services
- U.S. & International Logistics
Current Financial Highlights
Revenue – Q3 ($ Millions)
Operating Income Before Depreciation and Amortization – Q3 ($ Millions)
| BALANCE SHEET ($millions) | September 30, 2025 | December 31, 2024 |
| CASH (BANK INDEBTEDNESS) | 151.2 | 126.3 |
| WORKING CAPITAL (DEFICIT) | 286.3 | 281.5 |
| TOTAL ASSETS | 2,628.8 | 2,332.5 |
| LONG TERM DEBT (INCLUDING CURRENT PORTION) | 1,064.2 | 877.1 |
| CONVERTIBLE DEBENTURES | 122.3 | 120.5 |
| SHAREHOLDERS’ EQUITY | 1,028.6 | 1,016.9 |
10 Year Overview
Revenue ($ Millions)
Operating Income Before Depreciation and Amortization ($ Millions)
Revenue Trend by Segment
($ Millions)
Less-Than-Truckload Segment
Revenue ($ Millions)
Operating Income Before Depreciation And Amortization ($ Millions)
Logistics & Warehousing Segment
Revenue ($ Millions)
Operating Income Before Depreciation And Amortization ($ Millions)
Specialized & Industrial Services Segment
Revenue ($Millions)
Operating Income Before Depreciation And Amortization ($ Millions)
U.S. & International Logistics Segment
Revenue ($Millions)
Operating Income Before Depreciation And Amortization ($ Millions)
Short Position
updated as at October 14, 2025
| Date | Number of MTL Shares Shorted | Net Change | Short Interest | Total Shares Outstanding (millions) | Days to Cover* |
| July 15, 2025 | 5,559,794 | 168,411 | 6.4% | 87.28 | 33.23 |
| July 31, 2025 | 5,574,953 | 15,159 | 6.4% | 87.28 | 18.32 |
| August 15, 2025 | 4,974,800 | (600,153) | 5.7% | 87.28 | 15.89 |
| August 31, 2025 | 5,316,467 | 341,667 | 6.1% | 87.12 | 31.51 |
| September 15, 2025 | 5,449,845 | 133,378 | 6.2% | 87.12 | 38.74 |
| September 30, 2025 | 5,483,288 | 33,443 | 6.3% | 86.91 | 38.74 |
*Days to cover – is calculated using the average trade volume over the last 10 days at the time the report was published.
Reports & Filings
Information Circular 
First Quarter
www.sedarplus.ca
Such documents are also available upon request, free of charge, from the Corporate Investor Services group at:
Links to other corporate filings: