Scully Royalty Ltd(SRL)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL
1-STAR RATING
PASS
LAST CLOSE
$5.36
09/25/2026
(24-hour delay)

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*as per simulation (see disclosures)
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Upturn Advisory & Investor View for SRL

09/25/2026: SRL (1-star) is currently NOT-A-BUY. Pass it for now.

Scully Royalty Ltd is a diversified holding company that generates value through a portfolio of mining royalty interests and real estate investments. Its primary strength lies in this hybrid, opportunistic model, which allows it to capitalize on diverse market cycles. The company's growth story centers on acquiring high-margin royalties while optimizing its global property holdings. However, investors face risks related to commodity price volatility, limited stock liquidity, and intense competition from much larger, specialized players. The stock may suit value-oriented investors seeking alternative asset exposure, though they should carefully monitor commodity cycles and the company's ability to successfully acquire and manage these unique assets.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorMixed fitGrowth is largely driven by opportunistic asset management rather than rapid organic scaling.
Momentum investorWeak fitThe stock typically exhibits low liquidity and lacks the consistent price trends favored by momentum strategies.
Value investorStrong fitThe company may trade at a discount to the underlying liquidation value of its diversified assets.
Dividend investorMixed fitDividend payments are often variable and dependent on non-recurring asset performance.
Low-risk investorWeak fitExposure to commodity cycles and real estate development introduces significant inherent risk.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityHighThe company's asset values are sensitive to commodity and property market fluctuations.
Valuation riskMediumAsset appraisal is subjective and may not align with market trading prices.
Competition risk (mining royalties)HighDominant competitors like FNV possess significant scale and cost advantages.
Business qualityMediumThe business model depends on efficient capital allocation across unrelated sectors.
Dividend incomeMediumIncome streams are not fixed and may be paused during investment cycles.
Execution riskMediumSuccessfully managing a diverse global portfolio requires precise operational execution.

Price Behavior

Steep Decline
PRICE PATH

Steep Decline

The stock price has dropped sharply with strong downward pressure.

Extreme Price Shocks
PRICE STABILITY

Extreme Price Shocks

The stock has experienced exceptionally large and disruptive price movements during the period.

Analysis of Past Performance

Type Stock
Historic Profit 35.15%
Avg. Invested days 48
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 3.0
Stock Returns Performance Upturn Returns Performance icon 3.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/25/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
SRL receives a 2-star rating, supported by available scored pillars. The rating is constrained by soft unit economics, soft analyst coverage, and weak price momentum.

Company Fundamentals

★★★★★
SRL has moderate overall fundamentals (3 stars), with soft financial health, weak growth momentum, and solid ownership. In FY2024 versus FY2023, growth and ownership metrics are mixed: negative earnings growth (-1682.1%), soft cash generation (FCF margin -85.4%), negative revenue growth (-31.3%).

Financial Health Rating

★★★★★
SRL's financial health is supported by moderate liquidity, including working-capital and asset support (WC/assets 31.2%). Profitability is soft (2 stars), which helps explain the 2-star overall score.

Growth Momentum Score

★★★★★
SRL's growth profile is soft, with the least-weak measure being revenue growth at -31.3% FY2024 versus FY2023. By comparison, while earnings growth (-1682.1%, negative) and free-cash-flow growth (-221.7%, negative) hold the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 4.0% and approximately 90.6% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 71.20% supports management-shareholder alignment.

Top 5 Institutional Investors

IAT REINSURANCE CO LTD 22.44%
MILFAM LLC 13.04%
Nantahala Capital Management, LLC 2.42%
Morgan Stanley - Brokerage Accounts 0.57%
Citadel Advisors Llc 0.47%

Unit Economics (Per $1K Revenue)

★★★★★
SRL generates approximately $383 of gross profit, $-72 of operating income, and $-854 of free cash flow for every $1,000 of revenue. Based on FY2024 results. Strong cash conversion and healthy margins support the rating, although capital efficiency remains below the highest tier.

Economic Dimensions

★★★★★
Effective Tax Rate: -6.54% (Tax Credit)

Quantitative Style Profile

★★★★★
SRL has a liquid, relatively low-volatility profile. Weak momentum is the primary drawback.

Style Classification

Quality Focused

Value-OrientedLow VolatilitySmall / Mid Cap RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 81.61M USD
Price to earnings Ratio -
1Y Target Price -
Price to earnings Ratio -
1Y Target Price -
Volume (30-day avg) 7.2K shares
Beta 0.6
52 Weeks Range 4.21 - 10.39
Updated Date 09/26/2026
52 Weeks Range 4.21 - 10.39
Updated Date 09/26/2026
Dividends yield (FY) -
Basic EPS (TTM) -0.14

How Company Makes Money

Business areaWhat it includesRetail investor read
Mining RoyaltiesRoyalty interests in mineral production.Earns revenue when associated mines produce minerals.
Real EstateRental and development assets.Generates money from property leases and sales.
GeographyGlobal operations.Exposure to diversified international markets.

Analyzing Revenue: Products, Geography and Growth

Revenue by Geography

Geography revenue - Year on Year

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Valuation

Trailing PE -
Forward PE -
Enterprise Value 73.60M
Price to Sales(TTM) 2.28
Enterprise Value 73.60M
Price to Sales(TTM) 2.28
Enterprise Value to Revenue 2.89
Enterprise Value to EBITDA 14.39
Shares Outstanding 15.23M
Shares Floating 13.80M
Shares Outstanding 15.23M
Shares Floating 13.80M
Percent Insiders 71.2
Percent Institutions 3.97

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About Scully Royalty Ltd

Exchange NYSE
Headquarters -
IPO Launch date 2001-01-02
Interim CEO & Interim CFO Mr. Michael J. Smith Esq.
Sector Financial Services
Industry Capital Markets
Full time employees 71
Full time employees 71

Scully Royalty Ltd. operates as an iron ore mining company in the United States, Africa, Canada, Asia, and Europe. It operates through two segments: Royalty and Merchant Banking. The company holds royalty interest in the Scully iron ore mine located in the province of Newfoundland and Labrador, Canada. It also provides merchant banking solutions to small and medium sized enterprises; and holds industrial real estate parks which primarily leases out space for storage and production facilities. It serves manufacturing, natural resources, and medical supplies and services industries. The company was formerly known as MFC Bancorp Ltd. and changed its name to Scully Royalty Ltd. in June 2019. Scully Royalty Ltd. was incorporated in 2017 and is based in Shanghai, the People's Republic of China.