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Mount Logan Capital (MLCI)

Market Price (3/15/2026): $5.44 | Market Cap: $44.5 Mil
Sector: Financials | Industry: Asset Management & Custody Banks

Mount Logan Capital (MLCI)

Market Price (3/15/2026): $5.44
Market Cap: $44.5 Mil
Sector: Financials
Industry: Asset Management & Custody Banks

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -137%		 Weak multi-year price returns
2Y Excs Rtn is -64%, 3Y Excs Rtn is -102%		 Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -15%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 23%		  Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -50%
2 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -80%		  
3 Attractive yield
Dividend Yield is 3.6%, FCF Yield is 54%		  
4 Low stock price volatility
Vol 12M is 45%		  
5 Megatrend and thematic drivers
Megatrends include Digital & Alternative Assets. Themes include Private Equity, Private Credit, and Venture Capital. 		  
0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -137%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 23%
2 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -80%
3 Attractive yield
Dividend Yield is 3.6%, FCF Yield is 54%
4 Low stock price volatility
Vol 12M is 45%
5 Megatrend and thematic drivers
Megatrends include Digital & Alternative Assets. Themes include Private Equity, Private Credit, and Venture Capital.
6 Weak multi-year price returns
2Y Excs Rtn is -64%, 3Y Excs Rtn is -102%
7 Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -15%
8 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -50%

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Mount Logan Capital (MLCI) stock has lost about 30% since 11/30/2025 because of the following key factors:

1. Substantial Net Loss in Q3 2025.

Mount Logan Capital reported a consolidated net loss before taxes of $11.1 million for the third quarter ended September 30, 2025, a significant deterioration from a $2.1 million loss in the comparative prior year period. This resulted in a basic earnings per share (EPS) of ($1.64) for the quarter, a decrease of $1.24 from ($0.40) in the third quarter of 2024. This weak financial performance, announced just before the specified period, likely contributed to negative investor sentiment and the subsequent stock trend.

2. Shareholder Liquidity Initiatives and Capital Structure Adjustments.

The company engaged in significant capital allocation activities, including a $15 million self-tender offer commenced in December 2025 and completed in February 2026, which reduced outstanding common stock by approximately 12%. The offer price of $9.43 per share represented an 8% discount to Mount Logan's book equity value of $10.26 per share as of September 30, 2025. Additionally, the company priced a $40 million senior notes offering in January 2026 and authorized a new $10 million share repurchase program in February 2026, noting that shares were trading below their perceived intrinsic value at around $5.17, near a 52-week low of $5.04. These strategic adjustments to its capital structure and efforts to provide shareholder liquidity may have created market uncertainty regarding the company's valuation and financial strategy.

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Stock Movement Drivers

Fundamental Drivers

The -30.0% change in MLCI stock from 11/30/2025 to 3/14/2026 was primarily driven by a -30.0% change in the company's P/S Multiple.
(LTM values as of)113020253142026Change
Stock Price ($)7.775.44-30.0%
Change Contribution By: 
Total Revenues ($ Mil)2472470.0%
P/S Multiple0.30.2-30.0%
Shares Outstanding (Mil)880.0%
Cumulative Contribution-30.0%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 3/14/2026
ReturnCorrelation
MLCI-30.0% 
Market (SPY)-3.1%26.1%
Sector (XLF)-8.3%22.5%

Fundamental Drivers

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Market Drivers

8/31/2025 to 3/14/2026
ReturnCorrelation
MLCI  
Market (SPY)3.0%17.9%
Sector (XLF)-9.1%25.6%

Fundamental Drivers

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Market Drivers

2/28/2025 to 3/14/2026
ReturnCorrelation
MLCI  
Market (SPY)12.4%17.9%
Sector (XLF)-5.3%25.6%

Fundamental Drivers

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Market Drivers

2/28/2023 to 3/14/2026
ReturnCorrelation
MLCI  
Market (SPY)73.4%17.9%
Sector (XLF)43.1%25.6%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
MLCI Return----3%-36%-34%
Peers Return81%-22%68%57%-8%-27%149%
S&P 500 Return27%-19%24%23%16%-1%80%

Monthly Win Rates [3]
MLCI Win Rate----50%33% 
Peers Win Rate71%33%72%77%47%7% 
S&P 500 Win Rate75%42%67%75%67%33% 

Max Drawdowns [4]
MLCI Max Drawdown-----10%-39% 
Peers Max Drawdown-6%-33%-3%-5%-31%-28% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-2% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: APO, BX, KKR, ARES, BAM.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/13/2026 (YTD)

How Low Can It Go

MLCI has limited trading history. Below is the Financials sector ETF (XLF) in its place.

Unique KeyEventXLFS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-26.9%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven36.7%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven525 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-43.3%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven76.5%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven295 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-26.1%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven35.2%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven338 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-83.7%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven515.2%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven4,470 days1,480 days

Compare to APO, BX, KKR, ARES, BAM

In The Past

SPDR Select Sector Fund's stock fell -26.9% during the 2022 Inflation Shock from a high on 1/12/2022. A -26.9% loss requires a 36.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Mount Logan Capital (MLCI)

AI Analysis | Feedback

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AI Analysis | Feedback

  • Alternative Asset Management: Provides investment management services for various funds and accounts, specializing in credit strategies.
  • Credit Investment Products: Offers a range of investment products focused on corporate and structured credit opportunities for investors.

AI Analysis | Feedback

Mount Logan Capital Inc. (symbol: MLCI) operates as an alternative asset manager and investor in credit opportunities.

The company primarily serves institutional investors by managing capital on their behalf. Due to the nature of asset management, the specific names of these major institutional clients are typically not publicly disclosed by the company.

These customers generally fall into categories of sophisticated entities, rather than individual consumers. The types of institutional investors that utilize Mount Logan Capital's asset management services include:

  • Pension funds
  • Endowments
  • Foundations
  • Family offices
  • Other sophisticated institutional investment vehicles

Therefore, Mount Logan Capital's major "customers" are other financial entities and institutions.

AI Analysis | Feedback

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Better Bets vs. Mount Logan Capital (MLCI)

Trade Ideas

Select ideas related to MLCI.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
NDAQ_2282026_Insider_Buying_45D_2Buy_200K02282026NDAQNasdaqInsiderInsider Buys 45DStrong Insider Buying
Companies with multiple insider buys in the last 45 days		0.0%0.0%0.0%
JEF_2272026_Dip_Buyer_ValueBuy02272026JEFJefferies FinancialDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		0.0%0.0%0.0%
PAYO_2272026_Dip_Buyer_High_CFO_Margins_ExInd_DE02272026PAYOPayoneer GlobalDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap		0.0%0.0%0.0%
FOUR_2272026_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG02272026FOURShift4 PaymentsDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap		0.0%0.0%0.0%
COIN_2202026_Dip_Buyer_High_CFO_Margins_ExInd_DE02202026COINCoinbase GlobalDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap		2.6%2.6%-6.5%

Recent Active Movers

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Peer Comparisons

Peers to compare with:

Financials

MLCIAPOBXKKRARESBAMMedian
NameMount Lo.Apollo G.Blacksto.KKR Ares Man.Brookfie. 
Mkt Price5.44104.44106.7885.93101.7642.9393.84
Mkt Cap0.062.183.676.622.569.165.6
Rev LTM24732,04912,41019,2085,6014,6089,006
Op Inc LTM298,258-4908933,034893
FCF LTM247,2464,5473173,1952,2452,720
FCF 3Y Avg535,6073,9331,7411,8651,6301,803
CFO LTM247,2464,6634783,2672,2452,756
CFO 3Y Avg535,6074,0671,8781,9421,6311,910

Growth & Margins

MLCIAPOBXKKRARESBAMMedian
NameMount Lo.Apollo G.Blacksto.KKR Ares Man.Brookfie. 
Rev Chg LTM23.1%22.7%13.5%-11.2%44.2%15.5%19.1%
Rev Chg 3Y Avg446.5%66.8%22.6%65.2%23.3%-65.2%
Rev Chg Q-14.5%86.7%38.3%77.6%19.5%17.9%28.9%
QoQ Delta Rev Chg LTM-1.8%16.7%9.1%14.9%4.6%4.3%6.8%
Op Mgn LTM11.8%25.8%-2.6%15.9%65.8%15.9%
Op Mgn 3Y Avg29.0%25.5%-7.3%21.1%66.0%25.5%
QoQ Delta Op Mgn LTM-5.0%-3.6%-0.0%-1.1%3.8%-1.1%
CFO/Rev LTM9.7%22.6%37.6%2.5%58.3%48.7%30.1%
CFO/Rev 3Y Avg26.2%18.1%42.4%7.6%41.2%39.4%32.8%
FCF/Rev LTM9.7%22.6%36.6%1.7%57.0%48.7%29.6%
FCF/Rev 3Y Avg26.2%18.1%40.9%6.8%39.4%39.3%32.8%

Valuation

MLCIAPOBXKKRARESBAMMedian
NameMount Lo.Apollo G.Blacksto.KKR Ares Man.Brookfie. 
Mkt Cap0.062.183.676.622.569.165.6
P/S0.21.96.74.04.015.04.0
P/EBIT7.78.8-7.511.021.38.8
P/E-2.017.827.732.342.727.827.8
P/CFO1.98.617.9160.36.930.813.3
Total Yield-46.1%7.6%10.8%3.9%10.1%7.7%7.6%
Dividend Yield3.6%1.9%7.2%0.8%7.8%4.1%3.8%
FCF Yield 3Y Avg-7.8%3.4%1.0%5.0%3.7%3.7%
D/E2.00.20.20.70.60.10.4
Net D/E-1.4-3.80.1-1.00.60.0-0.5

Returns

MLCIAPOBXKKRARESBAMMedian
NameMount Lo.Apollo G.Blacksto.KKR Ares Man.Brookfie. 
1M Rtn-7.6%-16.4%-17.7%-14.9%-24.0%-16.6%-16.5%
3M Rtn-33.8%-29.2%-28.5%-37.0%-41.4%-19.4%-31.5%
6M Rtn-31.8%-23.7%-39.9%-39.8%-43.6%-22.7%-35.8%
12M Rtn-31.8%-21.1%-21.6%-23.7%-27.6%-5.4%-22.7%
3Y Rtn-31.8%90.6%35.2%76.3%47.0%54.8%50.9%
1M Excs Rtn-9.2%-15.0%-17.6%-15.7%-23.5%-14.8%-15.3%
3M Excs Rtn-27.7%-28.0%-29.4%-37.6%-41.3%-20.5%-28.7%
6M Excs Rtn-34.7%-25.7%-43.6%-43.4%-47.1%-25.7%-39.0%
12M Excs Rtn-52.8%-42.4%-42.4%-45.4%-49.4%-27.5%-43.9%
3Y Excs Rtn-101.6%-15.6%-41.7%-15.6%-36.7%-26.6%-31.7%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil2024202320222021
Insurance Solutions65-302 
Asset Management16129 
Corporate00  
Intersegment Adjustments000 
Single Segment   3
Total81-18123


Net Income by Segment
$ Mil2024202320222021
Intersegment Adjustments000 
Asset Management-04-5 
Insurance Solutions-55033 
Corporate-11-6  
Total-164829 


Assets by Segment
$ Mil2024202320222021
Insurance Solutions1,6261,4861,317 
Asset Management120108107 
Corporate00  
Intersegment Adjustments-57-49-31 
Total1,6891,5441,393 


Short Interest

Short Interest: As Of Date2272026
Short Interest: Shares Quantity0.1 Mil
Short Interest: % Change Since 215202611.9%
Average Daily Volume0.1 Mil
Days-to-Cover Short Interest1.0 days
Basic Shares Quantity8.2 Mil
Short % of Basic Shares1.0%

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
SUMMARY STATS   
# Positive000
# Negative000
Median Positive   
Median Negative   
Max Positive   
Max Negative   

SEC Filings

Expand for More
Report DateFiling DateFiling
09/30/202511/13/202510-Q

Industry Resources

External Quote Links


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