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

TSX:BEI-UN • CA0966311064

66.76 CAD
-0.56 (-0.83%)
Last: Feb 20, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

5

Taking everything into account, BEI-UN scores 5 out of 10 in our fundamental rating. BEI-UN was compared to 14 industry peers in the Residential REITs industry. BEI-UN has an excellent profitability rating, but there are concerns on its financial health. BEI-UN has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

8

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.
  • Of the past 5 years BEI-UN 4 years were profitable.
  • In the past 5 years BEI-UN always reported a positive cash flow from operatings.
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 0 200M 400M 600M

1.2 Ratios

  • With a decent Return On Assets value of 3.46%, BEI-UN is doing good in the industry, outperforming 78.57% of the companies in the same industry.
  • Looking at the Return On Equity, with a value of 6.26%, BEI-UN is in the better half of the industry, outperforming 71.43% of the companies in the same industry.
  • With an excellent Return On Invested Capital value of 3.21%, BEI-UN belongs to the best of the industry, outperforming 85.71% 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 (2.86%) for BEI-UN is below the current ROIC(3.21%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 3.46%
ROE 6.26%
ROIC 3.21%
ROA(3y)6.34%
ROA(5y)4.5%
ROE(3y)11.92%
ROE(5y)8.52%
ROIC(3y)2.86%
ROIC(5y)2.84%
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 0 5 -5 10 15

1.3 Margins

  • BEI-UN's Profit Margin of 49.84% is fine compared to the rest of the industry. BEI-UN outperforms 78.57% of its industry peers.
  • BEI-UN's Profit Margin has improved in the last couple of years.
  • BEI-UN has a better Operating Margin (55.29%) than 71.43% 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 73.60%, BEI-UN belongs to the best of the industry, outperforming 85.71% of the companies in the same industry.
  • BEI-UN's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 55.29%
PM (TTM) 49.84%
GM 73.6%
OM growth 3Y3.04%
OM growth 5Y3.17%
PM growth 3Y0.93%
PM growth 5Y66.4%
GM growth 3Y1.76%
GM growth 5Y1.52%
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 0 50 100

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3

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 about the same amout of shares outstanding than it did 1 year ago.
  • BEI-UN has more shares outstanding than it did 5 years ago.
  • The debt/assets ratio for BEI-UN has been reduced compared to a year ago.
BEI-UN.CA Yearly Shares OutstandingBEI-UN.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 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 2B 4B 6B 8B

2.2 Solvency

  • BEI-UN has an Altman-Z score of 1.23. This is a bad value and indicates that BEI-UN is not financially healthy and even has some risk of bankruptcy.
  • Looking at the Altman-Z score, with a value of 1.23, BEI-UN belongs to the top of the industry, outperforming 92.86% of the companies in the same industry.
  • BEI-UN has a debt to FCF ratio of 14.67. This is a negative value and a sign of low solvency as BEI-UN would need 14.67 years to pay back of all of its debts.
  • BEI-UN has a Debt to FCF ratio (14.67) which is in line with its industry peers.
  • BEI-UN has a Debt/Equity ratio of 0.55. This is a neutral value indicating BEI-UN is somewhat dependend on debt financing.
  • BEI-UN's Debt to Equity ratio of 0.55 is amongst the best of the industry. BEI-UN outperforms 100.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.55
Debt/FCF 14.67
Altman-Z 1.23
ROIC/WACC0.58
WACC5.54%
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 1B 2B 3B 4B

2.3 Liquidity

  • A Current Ratio of 0.11 indicates that BEI-UN may have some problems paying its short term obligations.
  • Looking at the Current ratio, with a value of 0.11, BEI-UN is in line with its industry, outperforming 42.86% of the companies in the same industry.
  • A Quick Ratio of 0.10 indicates that BEI-UN may have some problems paying its short term obligations.
  • Looking at the Quick ratio, with a value of 0.10, BEI-UN is in line with its industry, outperforming 42.86% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.11
Quick Ratio 0.1
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 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. Growth

3.1 Past

  • The Earnings Per Share has grown by an nice 8.33% over the past year.
  • The Earnings Per Share has been growing by 70.76% on average over the past years. This is a very strong growth
  • Looking at the last year, BEI-UN shows a quite strong growth in Revenue. The Revenue has grown by 10.56% in the last year.
  • 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)8.33%
EPS 3Y4.33%
EPS 5Y70.76%
EPS Q2Q%5.05%
Revenue 1Y (TTM)10.56%
Revenue growth 3Y8.64%
Revenue growth 5Y5.79%
Sales Q2Q%0.51%

3.2 Future

  • Based on estimates for the next years, BEI-UN will show a small growth in Earnings Per Share. The EPS will grow by 4.74% on average per year.
  • The Revenue is expected to grow by 4.29% on average over the next years.
EPS Next Y49.82%
EPS Next 2Y4.96%
EPS Next 3Y4.74%
EPS Next 5YN/A
Revenue Next Year4.03%
Revenue Next 2Y4.58%
Revenue Next 3Y4.29%
Revenue Next 5YN/A

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
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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5

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 14.48, the valuation of BEI-UN can be described as correct.
  • BEI-UN's Price/Earnings ratio is in line with the industry average.
  • BEI-UN is valuated rather cheaply when we compare the Price/Earnings ratio to 26.99, which is the current average of the S&P500 Index.
  • Based on the Price/Forward Earnings ratio of 14.25, the valuation of BEI-UN can be described as correct.
  • Based on the Price/Forward Earnings ratio, BEI-UN is valued a bit cheaper than the industry average as 64.29% of the companies are valued more expensively.
  • The average S&P500 Price/Forward Earnings ratio is at 28.06. BEI-UN is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 14.48
Fwd PE 14.25
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

  • 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 85.71% of the companies listed in the same industry.
  • BEI-UN's Price/Free Cash Flow ratio is a bit more expensive when compared to the industry. BEI-UN is more expensive than 64.29% of the companies in the same industry.
Industry RankSector Rank
P/FCF 13.19
EV/EBITDA 18.86
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 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)0.29
PEG (5Y)0.2
EPS Next 2Y4.96%
EPS Next 3Y4.74%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. Dividend

5.1 Amount

  • BEI-UN has a Yearly Dividend Yield of 1.87%.
  • With a Dividend Yield of 1.87, BEI-UN pays less dividend than the industry average, which is at 4.74. 92.86% of the companies listed in the same industry pay a better dividend than BEI-UN!
  • Compared to an average S&P500 Dividend Yield of 1.85, 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 6.64%, 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)6.64%
Div Incr Years3
Div Non Decr Years3
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

  • 24.03% 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.
DP24.03%
EPS Next 2Y4.96%
EPS Next 3Y4.74%
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 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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BOARDWALK REAL ESTATE INVEST

TSX:BEI-UN (2/20/2026, 7:00:00 PM)

66.76

-0.56 (-0.83%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryResidential REITs
Earnings (Last)11-04
Earnings (Next)02-19
Inst Owners36.96%
Inst Owner ChangeN/A
Ins Owners0.15%
Ins Owner ChangeN/A
Market Cap3.25B
Revenue(TTM)603.29M
Net Income(TTM)313.66M
Analysts78.57
Price Target82.88 (24.15%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.87%
Yearly Dividend1.26
Dividend Growth(5Y)6.64%
DP24.03%
Div Incr Years3
Div Non Decr Years3
Ex-Date02-27
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)0.49%
PT rev (3m)-3.45%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-7.21%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.49%
Valuation
Industry RankSector Rank
PE 14.48
Fwd PE 14.25
P/S 5.17
P/FCF 13.19
P/OCF 13.01
P/B 0.65
P/tB 0.65
EV/EBITDA 18.86
EPS(TTM)4.61
EY6.91%
EPS(NY)4.69
Fwd EY7.02%
FCF(TTM)5.06
FCFY7.58%
OCF(TTM)5.13
OCFY7.68%
SpS12.91
BVpS102.82
TBVpS102.83
PEG (NY)0.29
PEG (5Y)0.2
Graham Number103.27
Profitability
Industry RankSector Rank
ROA 3.46%
ROE 6.26%
ROCE 4.51%
ROIC 3.21%
ROICexc 3.26%
ROICexgc 3.26%
OM 55.29%
PM (TTM) 49.84%
GM 73.6%
FCFM 39.21%
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%
ROICexgc growth 3Y4.08%
ROICexgc 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 RankSector Rank
Debt/Equity 0.55
Debt/FCF 14.67
Debt/EBITDA 7.79
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 2.99
Cash Conversion 70.09%
Profit Quality 78.67%
Current Ratio 0.11
Quick Ratio 0.1
Altman-Z 1.23
F-Score5
WACC5.54%
ROIC/WACC0.58
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)8.33%
EPS 3Y4.33%
EPS 5Y70.76%
EPS Q2Q%5.05%
EPS Next Y49.82%
EPS Next 2Y4.96%
EPS Next 3Y4.74%
EPS Next 5YN/A
Revenue 1Y (TTM)10.56%
Revenue growth 3Y8.64%
Revenue growth 5Y5.79%
Sales Q2Q%0.51%
Revenue Next Year4.03%
Revenue Next 2Y4.58%
Revenue Next 3Y4.29%
Revenue Next 5YN/A
EBIT growth 1Y10.76%
EBIT growth 3Y11.94%
EBIT growth 5Y9.14%
EBIT Next Year14.04%
EBIT Next 3Y8.46%
EBIT Next 5YN/A
FCF growth 1Y33.37%
FCF growth 3Y12.78%
FCF growth 5Y8.4%
OCF growth 1Y33.91%
OCF growth 3Y14.22%
OCF growth 5Y8.46%

BOARDWALK REAL ESTATE INVEST / BEI-UN.CA FAQ

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

ChartMill assigns a fundamental rating of 5 / 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 5 / 10 to BOARDWALK REAL ESTATE INVEST (BEI-UN.CA). This can be considered as Fairly Valued.


How profitable is BOARDWALK REAL ESTATE INVEST (BEI-UN.CA) stock?

BOARDWALK REAL ESTATE INVEST (BEI-UN.CA) has a profitability rating of 8 / 10.


What are the PE and PB ratios of BOARDWALK REAL ESTATE INVEST (BEI-UN.CA) stock?

The Price/Earnings (PE) ratio for BOARDWALK REAL ESTATE INVEST (BEI-UN.CA) is 14.48 and the Price/Book (PB) ratio is 0.65.


How financially healthy is BOARDWALK REAL ESTATE INVEST?

The financial health rating of BOARDWALK REAL ESTATE INVEST (BEI-UN.CA) is 3 / 10.