BOARDWALK REAL ESTATE INVEST (BEI-UN.CA) Fundamental Analysis & Valuation

TSX:BEI-UN • CA0966311064

Current stock price

67.77 CAD
+0.33 (+0.49%)
Last:

This BEI-UN.CA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

7

1. BEI-UN.CA Profitability Analysis

1.1 Basic Checks

  • BEI-UN had positive earnings in the past year.
  • In the past year BEI-UN had a positive cash flow from operations.
  • BEI-UN had positive earnings in each of the past 5 years.
  • Each year in the past 5 years BEI-UN had a positive operating cash flow.
BEI-UN.CA Yearly Net Income VS EBIT VS OCF VS FCFBEI-UN.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200M 400M 600M

1.2 Ratios

  • The Return On Assets of BEI-UN (2.19%) is better than 66.67% of its industry peers.
  • With a Return On Equity value of 4.00%, BEI-UN perfoms like the industry average, outperforming 60.00% of the companies in the same industry.
  • BEI-UN has a better Return On Invested Capital (3.36%) than 93.33% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for BEI-UN is in line with the industry average of 2.76%.
  • The 3 year average ROIC (3.08%) for BEI-UN is below the current ROIC(3.36%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 2.19%
ROE 4%
ROIC 3.36%
ROA(3y)5.73%
ROA(5y)5.58%
ROE(3y)10.53%
ROE(5y)10.69%
ROIC(3y)3.08%
ROIC(5y)2.94%
BEI-UN.CA Yearly ROA, ROE, ROICBEI-UN.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5 -5 10 15

1.3 Margins

  • The Profit Margin of BEI-UN (30.83%) is better than 80.00% of its industry peers.
  • In the last couple of years the Profit Margin of BEI-UN has declined.
  • The Operating Margin of BEI-UN (56.07%) is better than 73.33% of its industry peers.
  • In the last couple of years the Operating Margin of BEI-UN has grown nicely.
  • With an excellent Gross Margin value of 73.97%, BEI-UN belongs to the best of the industry, outperforming 86.67% of the companies in the same industry.
  • BEI-UN's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 56.07%
PM (TTM) 30.83%
GM 73.97%
OM growth 3Y4.31%
OM growth 5Y3.33%
PM growth 3Y-18.63%
PM growth 5YN/A
GM growth 3Y2.52%
GM growth 5Y1.46%
BEI-UN.CA Yearly Profit, Operating, Gross MarginsBEI-UN.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50 100

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2

2. BEI-UN.CA Health Analysis

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 more 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 a worse debt to assets ratio.
BEI-UN.CA Yearly Shares OutstandingBEI-UN.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10M 20M 30M 40M 50M
BEI-UN.CA Yearly Total Debt VS Total AssetsBEI-UN.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B

2.2 Solvency

  • Based on the Altman-Z score of 1.21, we must say that BEI-UN is in the distress zone and has some risk of bankruptcy.
  • BEI-UN has a Altman-Z score of 1.21. This is amongst the best in the industry. BEI-UN outperforms 93.33% of its industry peers.
  • BEI-UN has a debt to FCF ratio of 14.00. This is a negative value and a sign of low solvency as BEI-UN would need 14.00 years to pay back of all of its debts.
  • With a Debt to FCF ratio value of 14.00, BEI-UN perfoms like the industry average, outperforming 53.33% of the companies in the same industry.
  • A Debt/Equity ratio of 0.56 indicates that BEI-UN is somewhat dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.56, BEI-UN belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.56
Debt/FCF 14
Altman-Z 1.21
ROIC/WACC0.6
WACC5.61%
BEI-UN.CA Yearly LT Debt VS Equity VS FCFBEI-UN.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B

2.3 Liquidity

  • BEI-UN has a Current Ratio of 0.16. 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 Current ratio of 0.16 is on the low side compared to the rest of the industry. BEI-UN is outperformed by 60.00% of its industry peers.
  • BEI-UN has a Quick Ratio of 0.16. 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 0.16 is on the low side compared to the rest of the industry. BEI-UN is outperformed by 60.00% of its industry peers.
Industry RankSector Rank
Current Ratio 0.16
Quick Ratio 0.16
BEI-UN.CA Yearly Current Assets VS Current LiabilitesBEI-UN.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M 1B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. BEI-UN.CA Growth Analysis

3.1 Past

  • BEI-UN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 8.33%, which is quite good.
  • The earnings per share for BEI-UN have been decreasing by -13.77% on average. This is quite bad
  • Looking at the last year, BEI-UN shows a small growth in Revenue. The Revenue has grown by 5.86% in the last year.
  • Measured over the past years, BEI-UN shows a small growth in Revenue. The Revenue has been growing by 6.52% on average per year.
EPS 1Y (TTM)8.33%
EPS 3Y-13.77%
EPS 5YN/A
EPS Q2Q%5.05%
Revenue 1Y (TTM)5.86%
Revenue growth 3Y8.88%
Revenue growth 5Y6.52%
Sales Q2Q%0.51%

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 2.57% yearly.
  • BEI-UN is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.02% yearly.
EPS Next Y1.04%
EPS Next 2Y2.57%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year4.78%
Revenue Next 2Y4.02%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
BEI-UN.CA Yearly Revenue VS EstimatesBEI-UN.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 200M 400M 600M
BEI-UN.CA Yearly EPS VS EstimatesBEI-UN.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 5 10

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4

4. BEI-UN.CA Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 14.70 indicates a correct valuation of BEI-UN.
  • 66.67% of the companies in the same industry are more expensive than BEI-UN, based on the Price/Earnings ratio.
  • BEI-UN is valuated rather cheaply when we compare the Price/Earnings ratio to 26.91, which is the current average of the S&P500 Index.
  • A Price/Forward Earnings ratio of 14.56 indicates a correct valuation of BEI-UN.
  • BEI-UN's Price/Forward Earnings ratio is in line with the industry average.
  • The average S&P500 Price/Forward Earnings ratio is at 21.99. BEI-UN is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 14.7
Fwd PE 14.56
BEI-UN.CA Price Earnings VS Forward Price EarningsBEI-UN.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • BEI-UN's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. BEI-UN is cheaper than 100.00% 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 60.00% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 12.6
EV/EBITDA 18.34
BEI-UN.CA Per share dataBEI-UN.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80 100

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates BEI-UN does not grow enough to justify the current Price/Earnings ratio.
  • The decent profitability rating of BEI-UN may justify a higher PE ratio.
PEG (NY)14.07
PEG (5Y)N/A
EPS Next 2Y2.57%
EPS Next 3YN/A

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5

5. BEI-UN.CA Dividend Analysis

5.1 Amount

  • BEI-UN has a Yearly Dividend Yield of 1.87%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 5.04, BEI-UN's dividend is way lower than its industry peers. On top of this 93.33% of the companies listed in the same industry pay a better dividend than BEI-UN!
  • Compared to an average S&P500 Dividend Yield of 1.82, BEI-UN has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 1.87%

5.2 History

  • On average, the dividend of BEI-UN grows each year by 9.83%, which is quite nice.
  • 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)9.83%
Div Incr Years4
Div Non Decr Years4
BEI-UN.CA Yearly Dividends per shareBEI-UN.CA Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5 2

5.3 Sustainability

  • 39.22% of the earnings are spent on dividend by BEI-UN. This is a low number and sustainable payout ratio.
  • BEI-UN's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP39.22%
EPS Next 2Y2.57%
EPS Next 3YN/A
BEI-UN.CA Yearly Income VS Free CF VS DividendBEI-UN.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200M 400M 600M
BEI-UN.CA Dividend Payout.BEI-UN.CA Dividend Payout, showing the Payout Ratio.BEI-UN.CA Dividend Payout.PayoutRetained Earnings

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BEI-UN.CA Fundamentals: All Metrics, Ratios and Statistics

BOARDWALK REAL ESTATE INVEST

TSX:BEI-UN (4/28/2026, 7:00:00 PM)

67.77

+0.33 (+0.49%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryResidential REITs
Industry Strength26.77
Industry Growth17.91
Earnings (Last)02-19
Earnings (Next)05-05
Inst Owners36.24%
Inst Owner ChangeN/A
Ins Owners0.15%
Ins Owner ChangeN/A
Market Cap3.27B
Revenue(TTM)638.64M
Net Income(TTM)196.87M
Analysts77.33
Price Target81.88 (20.82%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.87%
Yearly Dividend1.46
Dividend Growth(5Y)9.83%
DP39.22%
Div Incr Years4
Div Non Decr Years4
Ex-Date05-29
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)-0.76%
PT rev (3m)-0.71%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-0.65%
EPS NY rev (3m)-0.65%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.62%
Revenue NY rev (3m)-0.33%
Valuation
Industry RankSector Rank
PE 14.7
Fwd PE 14.56
P/S 5.13
P/FCF 12.6
P/OCF 12.6
P/B 0.67
P/tB 0.67
EV/EBITDA 18.34
EPS(TTM)4.61
EY6.8%
EPS(NY)4.66
Fwd EY6.87%
FCF(TTM)5.38
FCFY7.94%
OCF(TTM)5.38
OCFY7.94%
SpS13.22
BVpS101.83
TBVpS101.83
PEG (NY)14.07
PEG (5Y)N/A
Graham Number102.771 (51.65%)
Profitability
Industry RankSector Rank
ROA 2.19%
ROE 4%
ROCE 4.71%
ROIC 3.36%
ROICexc 3.41%
ROICexgc 3.41%
OM 56.07%
PM (TTM) 30.83%
GM 73.97%
FCFM 40.68%
ROA(3y)5.73%
ROA(5y)5.58%
ROE(3y)10.53%
ROE(5y)10.69%
ROIC(3y)3.08%
ROIC(5y)2.94%
ROICexc(3y)3.16%
ROICexc(5y)3%
ROICexgc(3y)3.16%
ROICexgc(5y)3%
ROCE(3y)4.29%
ROCE(5y)4.09%
ROICexgc growth 3Y7.54%
ROICexgc growth 5Y3.31%
ROICexc growth 3Y7.54%
ROICexc growth 5Y3.31%
OM growth 3Y4.31%
OM growth 5Y3.33%
PM growth 3Y-18.63%
PM growth 5YN/A
GM growth 3Y2.52%
GM growth 5Y1.46%
F-Score7
Asset Turnover0.07
Health
Industry RankSector Rank
Debt/Equity 0.56
Debt/FCF 14
Debt/EBITDA 7.49
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 2.99
Cash Conversion 70.81%
Profit Quality 131.98%
Current Ratio 0.16
Quick Ratio 0.16
Altman-Z 1.21
F-Score7
WACC5.61%
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)67.15%
Profit Quality(5y)58.52%
High Growth Momentum
Growth
EPS 1Y (TTM)8.33%
EPS 3Y-13.77%
EPS 5YN/A
EPS Q2Q%5.05%
EPS Next Y1.04%
EPS Next 2Y2.57%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)5.86%
Revenue growth 3Y8.88%
Revenue growth 5Y6.52%
Sales Q2Q%0.51%
Revenue Next Year4.78%
Revenue Next 2Y4.02%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y10.62%
EBIT growth 3Y13.57%
EBIT growth 5Y10.07%
EBIT Next Year8.75%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y11.91%
FCF growth 3Y18.68%
FCF growth 5Y13.81%
OCF growth 1Y7.72%
OCF growth 3Y17.32%
OCF growth 5Y12.99%

BOARDWALK REAL ESTATE INVEST / BEI-UN.CA Fundamental Analysis FAQ

What is the ChartMill fundamental rating of BOARDWALK REAL ESTATE INVEST (BEI-UN.CA) stock?

ChartMill assigns a fundamental rating of 4 / 10 to BEI-UN.CA.


What is the valuation status of BOARDWALK REAL ESTATE INVEST (BEI-UN.CA) stock?

ChartMill assigns a valuation rating of 4 / 10 to BOARDWALK REAL ESTATE INVEST (BEI-UN.CA). This can be considered as Fairly Valued.


Can you provide the profitability details for BOARDWALK REAL ESTATE INVEST?

BOARDWALK REAL ESTATE INVEST (BEI-UN.CA) has a profitability rating of 7 / 10.


How financially healthy is BOARDWALK REAL ESTATE INVEST?

The financial health rating of BOARDWALK REAL ESTATE INVEST (BEI-UN.CA) is 2 / 10.


How sustainable is the dividend of BOARDWALK REAL ESTATE INVEST (BEI-UN.CA) stock?

The dividend rating of BOARDWALK REAL ESTATE INVEST (BEI-UN.CA) is 5 / 10 and the dividend payout ratio is 39.22%.