MEDICURE INC

MCUJF
About the company

Medicure Inc., a biopharmaceutical company, engages in the research, development, and commercialization of human therapies in the United States. The company markets AGGRASTAT injection, a glycoprotein GP IIb/IIIa receptor antagonist for the treatment of acute coronary syndrome, including unstable angina and non-Q-wave myocardial infarction.

Country: CanadaPrice: $2.69Market Cap: $30.1M

Investment snapshot

12%positive consensus
Scored 1d ago

Positive

2

BUY / PASS

Neutral / negative

1 / 13

NEUTRAL / FAIL

Median fair value

$0.83

-69.1% vs price

Models with upside

0 / 17

Positive margin of safety

Strongest signal

8 of 12 pass — Graham, Buffett, Lynch +1 more object

Key risk

No clean pass — all 16 investors flag at least one profitability criterion

Framework analysis

VerdictMeaning
BUYPositive purchase signal: the framework's buy requirements are met.
PASSThe company clears the framework's checklist or screen, but the framework does not produce a buy signal. For valuation frameworks this often means margin of safety is missing, insufficient, or unavailable; some screen-only frameworks have no intrinsic-value BUY state.
NEUTRALNeither a positive nor negative conclusion. It does not mean to hold an existing position.
FAILThe company does not clear the framework's requirements.
RankedRanked strategies do not use PASS: selected cohort is BUY, outside the cohort is FAIL, and unranked is NEUTRAL.

Current investor scores use trailing 12-month flows and the latest balance sheet where supported. Multi-year and EPS tests retain annual history; each framework shows its financial basis below. Intrinsic values use annual financials.

MetricGraham

Defensive Value

Buffett

Quality Compounder

Lynch

GARP

Greenblatt

Magic Formula

Piotroski

F-Score

Dreman

Contrarian Value

Munger

Quality Focus

Pabrai

Dhandho Framework

Akre

Three-Legged Stool

Marks

Risk-Aware Value

Ackman

Activist Value

Templeton

Global Bargain Hunter

Sleep

Scale Economies Shared

Asness

Systematic Factors

Neff

Low-P/E Total Return

Schloss

Asset-Value Discipline

O'Shaughnessy

Systematic Factor Composite

VerdictFAILFAILFAILNot rankedPASSFAILFAILFAILFAILFAILFAILFAILFAILBUYFAILFAILNEUTRAL
Score
AnalysisChecking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…
Intrinsic Value (annual)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Margin of SafetyN/AN/AN/AN/AN/AN/AN/AN/A-224.1%N/AN/AN/AN/AN/AN/AN/AN/A
Financial Basis

Annual history · FY 2024

Latest source filing: 2025-04-25

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-04-25

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-04-25

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-04-25

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-04-25

Score computed: 2026-11-14

Annual history · FY 2024 · Market data at 2026-11-01

Latest source filing: 2025-04-25

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2024

Latest source filing: 2025-04-25

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2024

Latest source filing: 2025-04-25

Score computed: 2026-11-14

Annual history · FY 2024 · Qualitative assessment

Latest source filing: 2025-04-25

Score computed: 2026-11-14

Annual history · FY 2024 · Qualitative assessment

Latest source filing: 2025-04-25

Score computed: 2026-11-14

Annual history · FY 2024 · Market data at 2026-11-01

Latest source filing: 2025-04-25

Score computed: 2026-11-14

Annual history · FY 2024 · Price history 2025-01-01–2026-11-01

Latest source filing: 2025-04-25

Score computed: 2026-11-14

Annual history · FY 2024 · Qualitative assessment

Latest source filing: 2025-04-25

Score computed: 2026-11-14

Annual history · FY 2024 · Price history 2025-01-01–2026-11-01

Latest source filing: 2025-04-25

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-04-25

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-04-25

Score computed: 2026-11-14

Annual history · FY 2024 · Price history 2025-01-01–2026-11-01

Latest source filing: 2025-04-25

Score computed: 2026-11-14

Where It Passes

  • Debt & Leverage67% pass✓ 11✗ 4▾

    8 of 12 pass — Graham, Buffett, Lynch +1 more object

    LT Debt vs Net Current Assets
    ✗GrahamLT Debt <= Net Current Assets
    Debt/Equity & Interest CoverageD/E: 0.04, IC: N/A
    ✗BuffettD/E < 0.5 AND Interest Coverage > 5x
    Total Debt / Equity0.04
    ✓Lynch< 0.33
    Cash - Long-term Debt
    ✗LynchPositive preferred
    LT Debt / Total Assets Change0.00% -> 0.00%
    ✓PiotroskiDecreased YoY
    Current Assets / Current Liabilities1.89
    ✓Dreman> 1.5✓SchlossCurrent ratio >= 1.50x (app cutoff)
    Total Debt / Shareholders' Equity0.04
    ✓Dreman< 0.8✓Templeton< 1.0 (fixed cap; proxy for below-sector-median leverage)✓SchlossD/E < 1.00x
    Debt Levels0.04
    ✓MungerDebt/Equity < 0.5✓AkreDebt/Equity < 0.3
    Interest Coverage & Debt/EBITDA
    ✗MarksInterest Coverage > 3x; Debt/EBITDA < 4x
    Total Debt / Shareholders Equity0.04
    ✓Ackman<= 1.0
    Negative debt-to-equity (higher means less debt)-0.0421; #949/4210 (top 22.5%)
    ✓AsnessTop 30% of eligible cross-section

Where It Falls Short

  • Profitability0% pass✓ 2✗ 33▾

    No clean pass — all 16 investors flag at least one profitability criterion

    Positive EPS (10 years)5/11 years positive
    ✗GrahamPositive EPS every year for 10 years
    EPS Growth (3-yr avg, 10-yr window)
    ✗Graham>= 33% growth
    Net Income Positive (10+ years)5/11 years positive
    ✗BuffettPositive every year for 10+ years
    ROE (up to 5-year arithmetic mean)-8.6%
    ✗Buffett> 15% arithmetic mean (app rule)
    Operating Margin (10-yr trend)-4.2% (latest)
    ✗BuffettStable or rising over 10 years
    Free Cash Flow Proxy
    ✗BuffettPositive and growing
    Earnings Variance (10-yr CoV)
    ✗BuffettCoV < 0.3
    Retained Earnings Effectiveness
    ✗Buffett$1 retained -> > $1 market value created
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    3-5 Year EPS CAGR
    ✗Lynch15-30% (Fast Grower); > 0% to pass
    ROE-5.0%
    ✗Lynch> 15%
    EBIT / Enterprise Value
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=None, ROC=None
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Net Income / Total Assets-3.50%
    ✗PiotroskiROA > 0
    ROA Change YoY-3.29% -> -3.50% (delta: -0.21%)
    ✗PiotroskiCurrent ROA > Prior ROA
    (CFO / Total Assets) vs ROACFO/Assets=4.64%, ROA=-3.50%
    ✓PiotroskiCFO/Assets > ROA
    Gross Margin Change YoY64.5% -> 59.7%
    ✗PiotroskiImproved YoY
    Pre-Tax Income / Revenue-3.6%
    ✗Dreman>= 8%
    Net Income / Shareholders' Equity-5.0%
    ✗Dreman> 12%
    Margin of SafetyP/B=1.9x
    ✗PabraiP/B < 1.5 or P/E < 15
    Return on Equity-1.0% (3-yr avg)
    ✗AkreROE > 20% (3-year avg)
    Discount to Intrinsic ValueN/A (negative normalized EPS)
    ✗Marks>= 20% below intrinsic value
    Positive Net Income Frequency5/10 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    Operating Income / Revenue
    ✗Ackman>= 15%
    Net Income / Shareholders Equity-5.0%
    ✗Ackman>= 15%
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Operating Margin Trend
    ✗TempletonNon-negative operating-margin trend over 3 years
    Revenue growth vs. gross and operating margin trend
    ✗SleepRevenue rising; gross margin flat or falling; operating margin holding
    Net income / market capitalization-2.40%; #3613/6340 (top 57.0%)
    ✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
    Gross profit / total assets+44.10%; #823/3702 (top 22.2%)
    ✓AsnessTop 30% of eligible cross-section
    Net income / positive book equity-5.00%; #3209/5226 (top 61.4%)
    ✗AsnessTop 30% of eligible cross-section
    Negative 5-year standard deviation of ROA-0.0813; #3222/5884 (top 54.8%)
    ✗AsnessTop 30% of eligible cross-section
    3-5 Year Diluted EPS CAGR
    ✗Neff7%-20% annualized
    Positive Diluted-EPS Years5/10 years positive
    ✗Schloss>= 70% positive over 5-10 observed years (app rule)
  • Valuation0% pass✓ 2✗ 26▾

    No clean pass — all 13 investors flag at least one valuation criterion

    Price / 3-yr avg EPS
    ✗Graham<= 15x
    Price-to-Book Ratio1.9x
    ✗Graham<= 1.5x
    P/E x P/B
    ✗Graham<= 22.5
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    EBIT / Enterprise Value
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=None, ROC=None
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Price / EPS
    ✗Dreman< 12x✗Templeton< 12x (fixed ceiling; proxy for the market's cheapest 40%)
    Price / (CFO / Shares)29.3x
    ✗Dreman< 8x
    Price / Book Value per Share1.9x
    ✗Dreman< 1.2x✗Templeton< 1.5x✗SchlossP/B <= 0.80x (app cutoff)
    Valuation Reasonableness
    ✗MungerP/E < 25 or Owner Earnings Yield > 5%
    P/E or FCF Yield
    ✗PabraiP/E < 15 or FCF Yield > 10%
    P/B or P/E vs. Historical AverageP/B=1.9x
    ✓MarksP/E < 15 or P/B < 2.0
    Discount to Intrinsic ValueN/A (negative normalized EPS)
    ✗Marks>= 20% below intrinsic value
    Price / FCF per Share
    ✗Ackman<= 25
    Price vs. Trailing Low585% of trailing low ($0.46)
    ✗Templeton<= 120% of trailing low (certified split-adjusted live window)
    Net income / market capitalization-2.40%; #3613/6340 (top 57.0%)
    ✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
    Positive book equity / market capitalization+0.4804; #2960/6449 (top 45.9%)
    ✗AsnessTop 30% of eligible cross-section
    Price / Diluted EPS
    ✗NeffP/E <= 15x (app proxy for a P/E 40%-60% below the market)
    (EPS CAGR % + Dividend Yield %) / P/E
    ✗Neff> 0.7 (Neff's published traditional edge)
    Price / Tangible Book Value per Share5.00x
    ✗SchlossP/TBV <= 1.00x (app cutoff)
    Book Value per Share Change-27.3%
    ✗SchlossLatest BVPS >= earliest BVPS over >= 3 years (app rule)
    Revenue / market capitalization+0.5065; #2612/5247 (top 49.8%)
    ✗OshaughnessyTop 10% of eligible cross-section
    (Operating cash flow - capex) / market capitalization
    ✗OshaughnessyTop 10% of eligible cross-section
    Trailing six-month price return through the evaluation date+258.67%; #125/6202 (top 2.0%)
    ✓OshaughnessyTop 10% of eligible cross-section
  • Growth0% pass✗ 13▾

    All 8 investors flag MCUJF's growth

    EPS Growth (3-yr avg, 10-yr window)
    ✗Graham>= 33% growth
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    3-5 Year EPS CAGR
    ✗Lynch15-30% (Fast Grower); > 0% to pass
    Inventory Growth vs Revenue GrowthInv: 4.3% vs Rev: -6.9%
    ✗LynchInventory growth < Revenue growth
    EPS Growth Direction
    ✗DremanPositive over recent years
    EPS CAGR
    ✗Dreman> 5% annualized
    Positive Net Income Frequency5/10 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    3yr Median Revenue Growth-3.7%
    ✗Ackman>= 5%
    Positive EPS Growth Frequency
    ✗AckmanPositive EPS growth in >= 3 of last 5 years
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Revenue growth vs. gross and operating margin trend
    ✗SleepRevenue rising; gross margin flat or falling; operating margin holding
    5-year Revenue CAGR-0.2%
    ✗SleepCAGR > 7%
    3-5 Year Diluted EPS CAGR
    ✗Neff7%-20% annualized
  • Efficiency13% pass✓ 1✗ 10▾

    7 of 8 flag MCUJF's efficiency — Graham, Buffett, Greenblatt +4 more

    Current Ratio1.89
    ✗Graham>= 2.0
    ROIC (3-5 yr avg)4.7%
    ✗Buffett> 10%
    ROIC - WACC-5.3%
    ✗BuffettPositive (WACC = 10%)
    EBIT / (NWC + Net Fixed Assets)
    ✗Greenblatt> 25%
    Current Ratio Change YoY1.92 -> 1.89
    ✗PiotroskiIncreased YoY
    Revenue / Total Assets Change YoY0.77x -> 0.74x
    ✗PiotroskiImproved YoY
    Current Assets / Current Liabilities1.89
    ✓Dreman> 1.5
    Return on Invested Capital
    ✗Munger> 15%
    ROIC (high and growing)FY2022: ROIC=unavailable; FY2023: ROIC=unavailable; FY2024: ROIC=unavailable
    ✗AkreLatest 3 consecutive FYs: ROIC > 15% in each
    Reinvestment Rate x ROIC
    ✗AkreReinvestment Rate * ROIC > 10%
    ROIC (5-year)
    ✗SleepROIC > 12% in a majority of years
  • Verdicts13% pass✓ 2✗ 13▾

    Split decision: 13 FAIL · 1 PASS · 1 BUY · 1 NEUTRAL

    Overall verdict
    ✗GrahamFAIL (0/9)✗BuffettFAIL (0/9)✗LynchFAIL (1/7)•GreenblattNot ranked✓PiotroskiPASS (F-Score 4)✗DremanFAIL (2/11)✗MungerFAIL (1/4)✗PabraiFAIL (0/3)✗AkreFAIL (1/6)✗MarksFAIL (1/5)✗AckmanFAIL (2/9)✗TempletonFAIL (2/8)✗SleepFAIL (2/6)✓AsnessBUY (Rank #456/2370 (Top 19.2%))✗NeffFAIL (0/6)✗SchlossFAIL (2/7)•OshaughnessyNEUTRAL (Not ranked)
  • Cash Flow20% pass✓ 3✗ 9▾

    8 of 10 flag MCUJF's cash flow — Buffett, Lynch, Dreman +5 more

    Free Cash Flow Proxy
    ✗BuffettPositive and growing
    FCF Positive and Growing
    ✗LynchPositive and growing
    Operating Cash Flow$1.0M
    ✓PiotroskiCFO > 0
    (CFO / Total Assets) vs ROACFO/Assets=4.64%, ROA=-3.50%
    ✓PiotroskiCFO/Assets > ROA
    Price / (CFO / Shares)29.3x
    ✗Dreman< 8x
    P/E or FCF Yield
    ✗PabraiP/E < 15 or FCF Yield > 10%
    FCF Positive
    ✗MarksPositive FCF in majority of recent years
    (OCF - CapEx) / Market Cap
    ✗Ackman>= 4%
    Price / FCF per Share
    ✗Ackman<= 25
    Positive Operating Cash Flow frequency8/10 years positive
    ✓SleepPositive OCF in >= 70% of available years
    Operating Cash Flow - Capital Expenditures
    ✗Neff> $0 (app proxy for a strong fundamental case)
    (Operating cash flow - capex) / market capitalization
    ✗OshaughnessyTop 10% of eligible cross-section

Business & financials

Financial snapshot: annual FY 2024. Current investor scores may use newer quarterly data.

Company Profile

Industry: Pharmaceutical Products
SIC Sector: Chemicals & Pharmaceuticals
Size: Micro Cap($30.1M)
Revenue: $15.3M-6.9% YoY
Net Income: $-724051.86-3.9% YoY

Financial Snapshot

Operating Margin--
Return on Equity-5.0%
Debt / Equity0.04
Current Ratio1.89
EPS (Diluted)$-0.07
Shares Retired0.0% / −1.8% 2y

Similar Companies

MRKMerck & Co., Inc.
$364.3B
ABTABBOTT LABORATORIES
$188.0B
BMYBRISTOL MYERS SQUIBB CO
$129.7B
TECHBIO-TECHNE Corp
$11.4B

Shareholder Return

Fiscal 2024

Retired 0.0% of shares last year, 1.8% issued over two.

Buybacks
—
Dividends
—

Company Financials

Latest TTM and quarters alongside annual years

TTM sums four consecutive quarters and uses the latest quarter-end balances. Quarter columns show three-month results; annual columns show full-year totals. Growth compares the same period a year earlier. EPS is not added for TTM; full-year ratios are blank for quarters.

MetricFY 2024
Sources
  • 20-F · 2025-04-25
FY 2023
Sources
  • 20-F · 2024-04-09
FY 2022
Sources
  • 20-F · 2023-04-06
FY 2021
Sources
  • 20-F · 2022-04-29
FY 2020
Sources
  • 20-F · 2021-04-21
Market Cap$30.1Mcurrent$10.4Mest.$9.8Mest.$7.5Mest.$12.9Mest.
Revenue$15.3M↓7%$16.4M↓4%$17.0M$17.1M↑87%$9.1M
Operating Income----------
Net Income-$724.1K↓4%-$696.9K↓169%$1.0M↑277%-$570.4K↑89%-$5.4M
EPS (Diluted)$-0.07↓2%$-0.07↓171%$0.10↑275%$-0.05↑89%$-0.50
Gross Margin59.7%↓7%64.5%↓7%69.7%↑19%58.5%↑32%44.2%
Operating Margin—————
ROE-5.0%↓8%-4.6%↓171%6.5%↑265%-3.9%↑89%-35.8%
Total Debt$609.1K↑48%$411.2K↓34%$626.5K↓32%$917.3K↓19%$1.1M
Shareholders' Equity$14.5M↓4%$15.0M↓3%$15.5M↑7%$14.4M↓4%$15.0M
Current Ratio1.89↓1%1.92↑8%1.77↑20%1.47↑16%1.27
Debt / Equity0.04↑54%0.03↓32%0.04↓36%0.06↓16%0.08
Operating Cash Flow$959.6K↓39%$1.6M↑17%$1.3M↓57%$3.1M↑278%-$1.8M
Free Cash Flow----------

Score history

Historical Score Timeline

Industry peers

Industry Peers

Similar companies in Pharmaceutical Products

MCUJF vs Peers — Financial Grading

Revenue$15.3MBottom 25%
Net Income$-724051.86Median
ROE-5.0%Bottom 25%
D/E0.04Top 25%
Op. Margin—
Curr. Ratio1.89Median
CompanyMarket CapPriceRevenueNet IncomeROED/EOp. MarginCurr. RatioGrahamBuffettLynchGreenblattPiotroskiDreman
Merck & Co., Inc.MRK$364.3B$147.76$65.0B$18.3B34.7%0.94—1.542/95/94/70/3F-Score 41/11
ABBOTT LABORATORIESABT$188.0B$108.52$44.3B$6.5B12.5%0.2518.2%1.583/94/92/71/3F-Score 53/11
BRISTOL MYERS SQUIBB COBMY$129.7B$63.43$48.2B$7.1B38.2%2.4419.4%1.262/91/93/71/3F-Score 85/11
BIO-TECHNE CorpTECH$11.4B$72.80$1.2B$73.4M3.8%—8.4%3.464/93/93/70/3F-Score 54/11
REPLIGEN CORPRGEN$10.7B$167.79$738.3M$48.9M2.3%0.267.5%8.373/92/93/70/3F-Score 75/11
IONIS PHARMACEUTICALS INCIONS$4.8B$29.06$943.7M$381.4M-78.0%3.60-40.4%3.833/91/91/70/3F-Score 43/11
NEOGEN CORPNEOG$2.5B$11.23$870.4M$7.9M-0.4%0.76-2.5%3.823/91/92/70/3F-Score 64/11
Pharvaris N.V.PHVS$2.4B$33.36—$206.4M-64.8%0.00——0/90/92/70/3F-Score 22/11