BOARDWALK REAL ESTATE INVEST (BEI-UN.CA) Stock Fundamental Analysis
TSX:BEI-UN - Toronto Stock Exchange - CA0966311064 - REIT - Currency: CAD
Taking everything into account, BEI-UN scores 4 out of 10 in our fundamental rating. BEI-UN was compared to 16 industry peers in the Residential REITs industry. While BEI-UN belongs to the best of the industry regarding profitability, there are concerns on its financial health. BEI-UN is valued correctly, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
In the past year BEI-UN was profitable.
BEI-UN had a positive operating cash flow in the past year.
In multiple years BEI-UN reported negative net income over the last 5 years.
Of the past 5 years BEI-UN 4 years had a positive operating cash flow.
1.2 Ratios
BEI-UN has a Return On Assets of 8.04%. This is amongst the best in the industry. BEI-UN outperforms 93.75% of its industry peers.
BEI-UN's Return On Equity of 14.50% is amongst the best of the industry. BEI-UN outperforms 93.75% of its industry peers.
With a Return On Invested Capital value of 2.99%, BEI-UN perfoms like the industry average, outperforming 43.75% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for BEI-UN is in line with the industry average of 3.07%.
The 3 year average ROIC (2.71%) for BEI-UN is below the current ROIC(2.99%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.04% | ||
| ROE | 14.5% | ||
| ROIC | 2.99% |
ROA(3y)6.3%
ROA(5y)3.24%
ROE(3y)12.43%
ROE(5y)6.31%
ROIC(3y)2.71%
ROIC(5y)2.72%
1.3 Margins
BEI-UN's Profit Margin of 117.70% is amongst the best of the industry. BEI-UN outperforms 93.75% of its industry peers.
In the last couple of years the Profit Margin of BEI-UN has grown nicely.
The Operating Margin of BEI-UN (53.26%) is comparable to the rest of the industry.
BEI-UN's Operating Margin has improved in the last couple of years.
Looking at the Gross Margin, with a value of 72.13%, BEI-UN belongs to the top of the industry, outperforming 87.50% of the companies in the same industry.
BEI-UN's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 53.26% | ||
| PM (TTM) | 117.7% | ||
| GM | 72.13% |
OM growth 3Y2.61%
OM growth 5Y4.25%
PM growth 3YN/A
PM growth 5Y22.39%
GM growth 3Y0.94%
GM growth 5Y2.48%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so BEI-UN is destroying value.
BEI-UN has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
2.2 Solvency
Based on the Altman-Z score of 1.26, we must say that BEI-UN is in the distress zone and has some risk of bankruptcy.
BEI-UN's Altman-Z score of 1.26 is amongst the best of the industry. BEI-UN outperforms 93.75% of its industry peers.
BEI-UN has a debt to FCF ratio of 13.94. This is a negative value and a sign of low solvency as BEI-UN would need 13.94 years to pay back of all of its debts.
The Debt to FCF ratio of BEI-UN (13.94) is comparable to the rest of the industry.
A Debt/Equity ratio of 0.58 indicates that BEI-UN is somewhat dependend on debt financing.
BEI-UN's Debt to Equity ratio of 0.58 is amongst the best of the industry. BEI-UN outperforms 100.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.58 | ||
| Debt/FCF | 13.94 | ||
| Altman-Z | 1.26 |
ROIC/WACC0.56
WACC5.37%
2.3 Liquidity
BEI-UN has a Current Ratio of 0.19. This is a bad value and indicates that BEI-UN is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Current ratio value of 0.19, BEI-UN perfoms like the industry average, outperforming 43.75% of the companies in the same industry.
A Quick Ratio of 0.19 indicates that BEI-UN may have some problems paying its short term obligations.
BEI-UN's Quick ratio of 0.19 is in line compared to the rest of the industry. BEI-UN outperforms 43.75% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.19 | ||
| Quick Ratio | 0.19 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 17.78% over the past year.
EPS 1Y (TTM)17.78%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%17.04%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%13.59%
3.2 Future
BEI-UN is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 3.37% yearly.
Based on estimates for the next years, BEI-UN will show a small growth in Revenue. The Revenue will grow by 5.66% on average per year.
EPS Next Y2.57%
EPS Next 2Y3.37%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year7.32%
Revenue Next 2Y5.66%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 15.14, which indicates a correct valuation of BEI-UN.
Compared to the rest of the industry, the Price/Earnings ratio of BEI-UN indicates a somewhat cheap valuation: BEI-UN is cheaper than 75.00% of the companies listed in the same industry.
BEI-UN's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 29.62.
The Price/Forward Earnings ratio is 14.75, which indicates a correct valuation of BEI-UN.
Compared to the rest of the industry, the Price/Forward Earnings ratio of BEI-UN is on the same level as its industry peers.
BEI-UN's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 22.70.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.14 | ||
| Fwd PE | 14.75 |
4.2 Price Multiples
BEI-UN's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. BEI-UN is cheaper than 75.00% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of BEI-UN indicates a slightly more expensive valuation: BEI-UN is more expensive than 68.75% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 13.16 | ||
| EV/EBITDA | 19.8 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
The decent profitability rating of BEI-UN may justify a higher PE ratio.
PEG (NY)5.88
PEG (5Y)N/A
EPS Next 2Y3.37%
EPS Next 3YN/A
5. Dividend
5.1 Amount
BEI-UN has a Yearly Dividend Yield of 1.87%. Purely for dividend investing, there may be better candidates out there.
With a Dividend Yield of 1.87, BEI-UN pays less dividend than the industry average, which is at 4.91. 93.75% of the companies listed in the same industry pay a better dividend than BEI-UN!
BEI-UN's Dividend Yield is comparable with the S&P500 average which is at 2.27.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.87% |
5.2 History
The dividend of BEI-UN has a limited annual growth rate of 0.03%.
BEI-UN has paid a dividend for at least 10 years, which is a reliable track record.
BEI-UN has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)0.03%
Div Incr Years3
Div Non Decr Years3
5.3 Sustainability
BEI-UN pays out 9.12% of its income as dividend. This is a sustainable payout ratio.
The dividend of BEI-UN is growing, but earnings are growing more, so the dividend growth is sustainable.
DP9.12%
EPS Next 2Y3.37%
EPS Next 3YN/A
TSX:BEI-UN (2/21/2025, 7:00:00 PM)
64.35
+1.1 (+1.74%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryResidential REITs
Earnings (Last)
Earnings (Next)
Inst Owners40.29%
Inst Owner ChangeN/A
Ins Owners0.15%
Ins Owner ChangeN/A
Market Cap3.16B
Analysts77.14
Price Target84.3 (31%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.87% |
Yearly Dividend1.01
Dividend Growth(5Y)0.03%
DP9.12%
Div Incr Years3
Div Non Decr Years3
Ex-Date
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-3.78%
PT rev (3m)-10.33%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)12.23%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.1%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.14 | ||
| Fwd PE | 14.75 | ||
| P/S | 5.34 | ||
| P/FCF | 13.16 | ||
| P/OCF | 13.16 | ||
| P/B | 0.66 | ||
| P/tB | 0.66 | ||
| EV/EBITDA | 19.8 |
EPS(TTM)4.25
EY6.6%
EPS(NY)4.36
Fwd EY6.78%
FCF(TTM)4.89
FCFY7.6%
OCF(TTM)4.89
OCFY7.6%
SpS12.04
BVpS97.72
TBVpS97.72
PEG (NY)5.88
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.04% | ||
| ROE | 14.5% | ||
| ROCE | 4.16% | ||
| ROIC | 2.99% | ||
| ROICexc | 3.04% | ||
| ROICexgc | 3.04% | ||
| OM | 53.26% | ||
| PM (TTM) | 117.7% | ||
| GM | 72.13% | ||
| FCFM | 40.61% |
ROA(3y)6.3%
ROA(5y)3.24%
ROE(3y)12.43%
ROE(5y)6.31%
ROIC(3y)2.71%
ROIC(5y)2.72%
ROICexc(3y)2.77%
ROICexc(5y)2.76%
ROICexgc(3y)2.77%
ROICexgc(5y)2.76%
ROCE(3y)3.77%
ROCE(5y)3.78%
ROICexcg growth 3Y-1.07%
ROICexcg growth 5Y2.96%
ROICexc growth 3Y-1.07%
ROICexc growth 5Y2.96%
OM growth 3Y2.61%
OM growth 5Y4.25%
PM growth 3YN/A
PM growth 5Y22.39%
GM growth 3Y0.94%
GM growth 5Y2.48%
F-Score6
Asset Turnover0.07
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.58 | ||
| Debt/FCF | 13.94 | ||
| Debt/EBITDA | 8.55 | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 2.78 | ||
| Cash Conversion | 74.3% | ||
| Profit Quality | 34.51% | ||
| Current Ratio | 0.19 | ||
| Quick Ratio | 0.19 | ||
| Altman-Z | 1.26 |
F-Score6
WACC5.37%
ROIC/WACC0.56
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)40.39%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)17.78%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%17.04%
EPS Next Y2.57%
EPS Next 2Y3.37%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%13.59%
Revenue Next Year7.32%
Revenue Next 2Y5.66%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y16.9%
EBIT growth 3Y8.18%
EBIT growth 5Y9.1%
EBIT Next Year21.26%
EBIT Next 3Y11.55%
EBIT Next 5YN/A
FCF growth 1Y49.81%
FCF growth 3Y13.65%
FCF growth 5Y15.01%
OCF growth 1Y49.68%
OCF growth 3Y12.29%
OCF growth 5Y13.24%