DTOL.TO vs. MDA.TO

Last updated Apr 1, 2026

Compare and contrast key facts about D2L Inc. (DTOL.TO) and MDA Space Ltd. (MDA.TO).

Performance

DTOL.TO vs. MDA.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in D2L Inc. (DTOL.TO) and MDA Space Ltd. (MDA.TO). The values are adjusted to include any dividend payments, if applicable.

DTOL.TO vs. MDA.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DTOL.TO D2L Inc.	-37.75%	-30.32%	81.05%	65.28%	-52.87%	-17.91%
MDA.TO MDA Space Ltd.	32.28%	-9.79%	156.34%	80.00%	-32.63%	-38.35%

Fundamentals

Market Cap DTOL.TO : CA$471.76M MDA.TO : CA$4.45B
EPS DTOL.TO : CA$0.57 MDA.TO : CA$0.85
PE Ratio DTOL.TO : 14.80 MDA.TO : 41.62
PS Ratio DTOL.TO : 2.00 MDA.TO : 2.77
PB Ratio DTOL.TO : 5.39 MDA.TO : 3.29
Total Revenue (TTM) DTOL.TO : CA$235.95M MDA.TO : CA$1.63B
Gross Profit (TTM) DTOL.TO : CA$161.70M MDA.TO : CA$375.80M
EBITDA (TTM) DTOL.TO : CA$22.28M MDA.TO : CA$262.20M

Returns By Period

In the year-to-date period, DTOL.TO achieves a -37.75% return, which is significantly lower than MDA.TO's 32.28% return.

DTOL.TO

• 1D: 6.73%
• 1M: -14.53%
• YTD: -37.75%
• 6M: -54.17%
• 1Y: -47.67%
• 3Y*: 1.68%
• 5Y*: —
• 10Y*: —

MDA.TO

• 1D: 7.37%
• 1M: -10.90%
• YTD: 32.28%
• 6M: 1.67%
• 1Y: 28.19%
• 3Y*: 71.39%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

DTOL.TO vs. MDA.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DTOL.TO

DTOL.TO Risk / Return Rank: 6
DTOL.TO Sharpe Ratio Rank: 4
DTOL.TO Sortino Ratio Rank: 5
DTOL.TO Omega Ratio Rank: 6
DTOL.TO Calmar Ratio Rank: 12
DTOL.TO Martin Ratio Rank: 2

MDA.TO

MDA.TO Risk / Return Rank: 57
MDA.TO Sharpe Ratio Rank: 58
MDA.TO Sortino Ratio Rank: 56
MDA.TO Omega Ratio Rank: 58
MDA.TO Calmar Ratio Rank: 55
MDA.TO Martin Ratio Rank: 55

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DTOL.TO vs. MDA.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for D2L Inc. (DTOL.TO) and MDA Space Ltd. (MDA.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	DTOL.TO	MDA.TO	Difference
Sharpe ratio Return per unit of total volatility	-1.03	0.44	-1.47
Sortino ratio Return per unit of downside risk	-1.62	1.00	-2.62
Omega ratio Gain probability vs. loss probability	0.81	1.15	-0.34
Calmar ratio Return relative to maximum drawdown	-0.81	0.55	-1.37
Martin ratio Return relative to average drawdown	-1.97	1.20	-3.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DTOL.TO vs. MDA.TO - Sharpe Ratio Comparison

The current DTOL.TO Sharpe Ratio is -1.03, which is lower than the MDA.TO Sharpe Ratio of 0.44. The chart below compares the historical Sharpe Ratios of DTOL.TO and MDA.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DTOL.TO	MDA.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.03	0.44	-1.47
Sharpe Ratio (All Time) Calculated using the full available price history	-0.32	0.40	-0.72

Correlation

The correlation between DTOL.TO and MDA.TO is 0.10, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

DTOL.TO vs. MDA.TO - Dividend Comparison

Neither DTOL.TO nor MDA.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

DTOL.TO vs. MDA.TO - Drawdown Comparison

The maximum DTOL.TO drawdown since its inception was -69.50%, roughly equal to the maximum MDA.TO drawdown of -68.33%. Use the drawdown chart below to compare losses from any high point for DTOL.TO and MDA.TO.

Drawdown Indicators

	DTOL.TO	MDA.TO	Difference
Max Drawdown Largest peak-to-trough decline	-69.50%	-68.33%	-1.17%
Max Drawdown (1Y) Largest decline over 1 year	-60.93%	-53.77%	-7.16%
Current Drawdown Current decline from peak	-59.19%	-23.99%	-35.20%
Average Drawdown Average peak-to-trough decline	-37.61%	-31.56%	-6.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.10%	24.81%	+0.29%

Volatility

DTOL.TO vs. MDA.TO - Volatility Comparison

The current volatility for D2L Inc. (DTOL.TO) is 16.95%, while MDA Space Ltd. (MDA.TO) has a volatility of 23.47%. This indicates that DTOL.TO experiences smaller price fluctuations and is considered to be less risky than MDA.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DTOL.TO	MDA.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.95%	23.47%	-6.52%
Volatility (6M) Calculated over the trailing 6-month period	29.55%	45.36%	-15.81%
Volatility (1Y) Calculated over the trailing 1-year period	46.44%	64.69%	-18.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.16%	48.74%	-2.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.16%	48.74%	-2.58%

Financials

DTOL.TO vs. MDA.TO - Profitability Comparison

The chart below illustrates the profitability comparison between D2L Inc. and MDA Space Ltd. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

DTOL.TO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, D2L Inc. reported a gross profit of 50.06M and revenue of 75.03M. Therefore, the gross margin over that period was 66.7%.

MDA.TO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, MDA Space Ltd. reported a gross profit of 95.80M and revenue of 499.10M. Therefore, the gross margin over that period was 19.2%.

DTOL.TO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, D2L Inc. reported an operating income of 3.59M and revenue of 75.03M, resulting in an operating margin of 4.8%.

MDA.TO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, MDA Space Ltd. reported an operating income of 31.80M and revenue of 499.10M, resulting in an operating margin of 6.4%.

DTOL.TO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, D2L Inc. reported a net income of 6.09M and revenue of 75.03M, resulting in a net margin of 8.1%.

MDA.TO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, MDA Space Ltd. reported a net income of 24.00M and revenue of 499.10M, resulting in a net margin of 4.8%.