BOARDWALK REAL ESTATE INVEST (BEI-UN.CA) Stock Fundamental Analysis
Canada - TSX:BEI-UN - CA0966311064 - REIT
65.25 CAD
-0.37 (-0.56%)
Overall BEI-UN gets a fundamental rating of 5 out of 10. We evaluated BEI-UN against 17 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 has a decent growth rate and is not valued too expensively.
1. Profitability
1.1 Basic Checks
In the past year BEI-UN was profitable.
In the past year BEI-UN had a positive cash flow from operations.
Of the past 5 years BEI-UN 4 years were profitable.
BEI-UN had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
The Return On Assets of BEI-UN (3.78%) is better than 82.35% of its industry peers.
With an excellent Return On Equity value of 6.64%, BEI-UN belongs to the best of the industry, outperforming 82.35% of the companies in the same industry.
BEI-UN has a better Return On Invested Capital (3.23%) than 76.47% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for BEI-UN is in line with the industry average of 2.80%.
The 3 year average ROIC (2.86%) for BEI-UN is below the current ROIC(3.23%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.78% | ||
| ROE | 6.64% | ||
| ROIC | 3.23% |
ROA(3y)6.34%
ROA(5y)4.5%
ROE(3y)11.92%
ROE(5y)8.52%
ROIC(3y)2.86%
ROIC(5y)2.84%
1.3 Margins
The Profit Margin of BEI-UN (53.28%) is better than 82.35% of its industry peers.
In the last couple of years the Profit Margin of BEI-UN has grown nicely.
BEI-UN has a Operating Margin of 54.66%. This is comparable to the rest of the industry: BEI-UN outperforms 58.82% of its industry peers.
BEI-UN's Operating Margin has improved in the last couple of years.
BEI-UN has a Gross Margin of 73.22%. This is amongst the best in the industry. BEI-UN outperforms 88.24% of its industry peers.
In the last couple of years the Gross Margin of BEI-UN has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 54.66% | ||
| PM (TTM) | 53.28% | ||
| GM | 73.22% |
OM growth 3Y3.04%
OM growth 5Y3.17%
PM growth 3Y0.93%
PM growth 5Y66.4%
GM growth 3Y1.76%
GM growth 5Y1.52%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), BEI-UN is destroying value.
BEI-UN has about the same amout of shares outstanding than it did 1 year ago.
The number of shares outstanding for BEI-UN has been increased compared to 5 years ago.
Compared to 1 year ago, BEI-UN has an improved debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 1.30, we must say that BEI-UN is in the distress zone and has some risk of bankruptcy.
BEI-UN's Altman-Z score of 1.30 is amongst the best of the industry. BEI-UN outperforms 94.12% of its industry peers.
BEI-UN has a debt to FCF ratio of 14.46. This is a negative value and a sign of low solvency as BEI-UN would need 14.46 years to pay back of all of its debts.
The Debt to FCF ratio of BEI-UN (14.46) is comparable to the rest of the industry.
A Debt/Equity ratio of 0.52 indicates that BEI-UN is somewhat dependend on debt financing.
BEI-UN has a Debt to Equity ratio of 0.52. This is amongst the best in the industry. BEI-UN outperforms 88.24% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.52 | ||
| Debt/FCF | 14.46 | ||
| Altman-Z | 1.3 |
ROIC/WACC0.6
WACC5.35%
2.3 Liquidity
BEI-UN has a Current Ratio of 0.22. 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.
BEI-UN has a Current ratio of 0.22. This is in the lower half of the industry: BEI-UN underperforms 64.71% of its industry peers.
BEI-UN has a Quick Ratio of 0.22. 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.
BEI-UN's Quick ratio of 0.21 is on the low side compared to the rest of the industry. BEI-UN is outperformed by 64.71% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.22 | ||
| Quick Ratio | 0.21 |
3. Growth
3.1 Past
BEI-UN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 11.48%, which is quite good.
Measured over the past years, BEI-UN shows a very strong growth in Earnings Per Share. The EPS has been growing by 70.76% on average per year.
The Revenue has grown by 8.12% in the past year. This is quite good.
Measured over the past years, BEI-UN shows a small growth in Revenue. The Revenue has been growing by 5.79% on average per year.
EPS 1Y (TTM)11.48%
EPS 3Y4.33%
EPS 5Y70.76%
EPS Q2Q%9.91%
Revenue 1Y (TTM)8.12%
Revenue growth 3Y8.64%
Revenue growth 5Y5.79%
Sales Q2Q%3.77%
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 4.16% yearly.
The Revenue is expected to grow by 4.19% on average over the next years.
EPS Next Y61.46%
EPS Next 2Y4.05%
EPS Next 3Y4.16%
EPS Next 5YN/A
Revenue Next Year3.52%
Revenue Next 2Y4.04%
Revenue Next 3Y4.19%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 14.76, the valuation of BEI-UN can be described as correct.
64.71% of the companies in the same industry are more expensive than BEI-UN, based on the Price/Earnings ratio.
Compared to an average S&P500 Price/Earnings ratio of 27.42, BEI-UN is valued a bit cheaper.
A Price/Forward Earnings ratio of 14.17 indicates a correct valuation of BEI-UN.
BEI-UN's Price/Forward Earnings ratio is in line with the industry average.
BEI-UN is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 22.94, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.76 | ||
| Fwd PE | 14.17 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of BEI-UN indicates a rather cheap valuation: BEI-UN is cheaper than 100.00% of the companies listed in the same industry.
70.59% of the companies in the same industry are cheaper than BEI-UN, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 14.1 | ||
| EV/EBITDA | 18.54 |
4.3 Compensation for Growth
BEI-UN's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
BEI-UN has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)0.24
PEG (5Y)0.21
EPS Next 2Y4.05%
EPS Next 3Y4.16%
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 4.49. 82.35% of the companies listed in the same industry pay a better dividend than BEI-UN!
BEI-UN's Dividend Yield is slightly below the S&P500 average, which is at 2.36.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.87% |
5.2 History
On average, the dividend of BEI-UN grows each year by 6.64%, which is quite nice.
BEI-UN has been paying a dividend for at least 10 years, so it has a reliable track record.
BEI-UN has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)6.64%
Div Incr Years3
Div Non Decr Years3
5.3 Sustainability
BEI-UN pays out 22.05% of its income as dividend. This is a sustainable payout ratio.
BEI-UN's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP22.05%
EPS Next 2Y4.05%
EPS Next 3Y4.16%
TSX:BEI-UN (10/17/2025, 7:00:00 PM)
65.25
-0.37 (-0.56%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryResidential REITs
Earnings (Last)
Earnings (Next)
Inst Owners36.7%
Inst Owner ChangeN/A
Ins Owners0.15%
Ins Owner ChangeN/A
Market Cap3.21B
Analysts77.14
Price Target86.14 (32.02%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.87% |
Yearly Dividend1.26
Dividend Growth(5Y)6.64%
DP22.05%
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)0%
PT rev (3m)4.13%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)58.14%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.4%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.76 | ||
| Fwd PE | 14.17 | ||
| P/S | 5.15 | ||
| P/FCF | 14.1 | ||
| P/OCF | 13.79 | ||
| P/B | 0.64 | ||
| P/tB | 0.64 | ||
| EV/EBITDA | 18.54 |
EPS(TTM)4.42
EY6.77%
EPS(NY)4.61
Fwd EY7.06%
FCF(TTM)4.63
FCFY7.09%
OCF(TTM)4.73
OCFY7.25%
SpS12.66
BVpS101.61
TBVpS101.61
PEG (NY)0.24
PEG (5Y)0.21
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.78% | ||
| ROE | 6.64% | ||
| ROCE | 4.49% | ||
| ROIC | 3.23% | ||
| ROICexc | 3.24% | ||
| ROICexgc | 3.24% | ||
| OM | 54.66% | ||
| PM (TTM) | 53.28% | ||
| GM | 73.22% | ||
| FCFM | 36.55% |
ROA(3y)6.34%
ROA(5y)4.5%
ROE(3y)11.92%
ROE(5y)8.52%
ROIC(3y)2.86%
ROIC(5y)2.84%
ROICexc(3y)2.93%
ROICexc(5y)2.89%
ROICexgc(3y)2.93%
ROICexgc(5y)2.89%
ROCE(3y)3.98%
ROCE(5y)3.95%
ROICexcg growth 3Y4.08%
ROICexcg growth 5Y3.76%
ROICexc growth 3Y4.08%
ROICexc growth 5Y3.76%
OM growth 3Y3.04%
OM growth 5Y3.17%
PM growth 3Y0.93%
PM growth 5Y66.4%
GM growth 3Y1.76%
GM growth 5Y1.52%
F-Score5
Asset Turnover0.07
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.52 | ||
| Debt/FCF | 14.46 | ||
| Debt/EBITDA | 7.41 | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 2.94 | ||
| Cash Conversion | 66.66% | ||
| Profit Quality | 68.6% | ||
| Current Ratio | 0.22 | ||
| Quick Ratio | 0.21 | ||
| Altman-Z | 1.3 |
F-Score5
WACC5.35%
ROIC/WACC0.6
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)41.46%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)11.48%
EPS 3Y4.33%
EPS 5Y70.76%
EPS Q2Q%9.91%
EPS Next Y61.46%
EPS Next 2Y4.05%
EPS Next 3Y4.16%
EPS Next 5YN/A
Revenue 1Y (TTM)8.12%
Revenue growth 3Y8.64%
Revenue growth 5Y5.79%
Sales Q2Q%3.77%
Revenue Next Year3.52%
Revenue Next 2Y4.04%
Revenue Next 3Y4.19%
Revenue Next 5YN/A
EBIT growth 1Y12.31%
EBIT growth 3Y11.94%
EBIT growth 5Y9.14%
EBIT Next Year13.28%
EBIT Next 3Y7.59%
EBIT Next 5YN/A
FCF growth 1Y33.25%
FCF growth 3Y12.78%
FCF growth 5Y8.4%
OCF growth 1Y33.65%
OCF growth 3Y14.22%
OCF growth 5Y8.46%