BTB REAL ESTATE INVESTMENT T (BTB-UN.CA) Stock Fundamental Analysis
TSX:BTB-UN - Toronto Stock Exchange - CA11777P3007 - REIT - Currency: CAD
Taking everything into account, BTB-UN scores 5 out of 10 in our fundamental rating. BTB-UN was compared to 38 industry peers in the Diversified REITs industry. BTB-UN scores excellent on profitability, but there are concerns on its financial health. BTB-UN is valued quite cheap, while showing a decent growth score. This is a good combination!
1. Profitability
1.1 Basic Checks
BTB-UN had positive earnings in the past year.
In the past year BTB-UN had a positive cash flow from operations.
Each year in the past 5 years BTB-UN has been profitable.
Each year in the past 5 years BTB-UN had a positive operating cash flow.
1.2 Ratios
With an excellent Return On Assets value of 3.10%, BTB-UN belongs to the best of the industry, outperforming 86.84% of the companies in the same industry.
Looking at the Return On Equity, with a value of 7.90%, BTB-UN belongs to the top of the industry, outperforming 89.47% of the companies in the same industry.
With a decent Return On Invested Capital value of 4.44%, BTB-UN is doing good in the industry, outperforming 71.05% of the companies in the same industry.
BTB-UN had an Average Return On Invested Capital over the past 3 years of 4.42%. This is in line with the industry average of 5.66%.
The 3 year average ROIC (4.42%) for BTB-UN is below the current ROIC(4.44%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.1% | ||
| ROE | 7.9% | ||
| ROIC | 4.44% |
ROA(3y)3.1%
ROA(5y)2.66%
ROE(3y)7.92%
ROE(5y)6.98%
ROIC(3y)4.42%
ROIC(5y)4.2%
1.3 Margins
BTB-UN has a better Profit Margin (29.74%) than 78.95% of its industry peers.
In the last couple of years the Profit Margin of BTB-UN has declined.
The Operating Margin of BTB-UN (58.05%) is better than 68.42% of its industry peers.
BTB-UN's Operating Margin has been stable in the last couple of years.
BTB-UN's Gross Margin of 80.13% is amongst the best of the industry. BTB-UN outperforms 92.11% of its industry peers.
In the last couple of years the Gross Margin of BTB-UN has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 58.05% | ||
| PM (TTM) | 29.74% | ||
| GM | 80.13% |
OM growth 3Y0.93%
OM growth 5Y1.2%
PM growth 3Y-10.4%
PM growth 5Y-11.68%
GM growth 3Y0.72%
GM growth 5Y0.59%
2. Health
2.1 Basic Checks
BTB-UN has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
BTB-UN has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, BTB-UN has more shares outstanding
BTB-UN has a better debt/assets ratio than last year.
2.2 Solvency
BTB-UN has an Altman-Z score of 0.23. This is a bad value and indicates that BTB-UN is not financially healthy and even has some risk of bankruptcy.
BTB-UN's Altman-Z score of 0.23 is on the low side compared to the rest of the industry. BTB-UN is outperformed by 71.05% of its industry peers.
BTB-UN has a debt to FCF ratio of 10.65. This is a negative value and a sign of low solvency as BTB-UN would need 10.65 years to pay back of all of its debts.
BTB-UN has a Debt to FCF ratio of 10.65. This is amongst the best in the industry. BTB-UN outperforms 81.58% of its industry peers.
A Debt/Equity ratio of 1.49 is on the high side and indicates that BTB-UN has dependencies on debt financing.
BTB-UN has a worse Debt to Equity ratio (1.49) than 63.16% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.49 | ||
| Debt/FCF | 10.65 | ||
| Altman-Z | 0.23 |
ROIC/WACC0.77
WACC5.75%
2.3 Liquidity
A Current Ratio of 0.32 indicates that BTB-UN may have some problems paying its short term obligations.
BTB-UN has a Current ratio (0.32) which is comparable to the rest of the industry.
A Quick Ratio of 0.32 indicates that BTB-UN may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.32, BTB-UN is in the better half of the industry, outperforming 60.53% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.32 | ||
| Quick Ratio | 0.32 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 10.24% over the past year.
Measured over the past years, BTB-UN shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -12.94% on average per year.
The Revenue has been growing slightly by 3.34% in the past year.
Measured over the past years, BTB-UN shows a small growth in Revenue. The Revenue has been growing by 6.80% on average per year.
EPS 1Y (TTM)10.24%
EPS 3Y-8.84%
EPS 5Y-12.94%
EPS Q2Q%4.9%
Revenue 1Y (TTM)3.34%
Revenue growth 3Y9.02%
Revenue growth 5Y6.8%
Sales Q2Q%5.44%
3.2 Future
The Earnings Per Share is expected to grow by 13.19% on average over the next years. This is quite good.
BTB-UN is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.88% yearly.
EPS Next Y18.75%
EPS Next 2Y13.19%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year4.76%
Revenue Next 2Y3.88%
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.
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
With a Price/Earnings ratio of 8.36, the valuation of BTB-UN can be described as very reasonable.
BTB-UN's Price/Earnings ratio is rather cheap when compared to the industry. BTB-UN is cheaper than 94.74% of the companies in the same industry.
BTB-UN's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.45.
With a Price/Forward Earnings ratio of 8.89, the valuation of BTB-UN can be described as very reasonable.
Compared to the rest of the industry, the Price/Forward Earnings ratio of BTB-UN indicates a rather cheap valuation: BTB-UN is cheaper than 92.11% of the companies listed in the same industry.
BTB-UN's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 21.90.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.36 | ||
| Fwd PE | 8.89 |
4.2 Price Multiples
BTB-UN's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. BTB-UN is cheaper than 86.84% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, BTB-UN is valued cheaper than 89.47% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 4.69 | ||
| EV/EBITDA | 13.29 |
4.3 Compensation for Growth
BTB-UN's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of BTB-UN may justify a higher PE ratio.
A more expensive valuation may be justified as BTB-UN's earnings are expected to grow with 13.19% in the coming years.
PEG (NY)0.45
PEG (5Y)N/A
EPS Next 2Y13.19%
EPS Next 3YN/A
5. Dividend
5.1 Amount
BTB-UN has a Yearly Dividend Yield of 9.04%, which is a nice return.
Compared to an average industry Dividend Yield of 7.95, BTB-UN pays a bit more dividend than its industry peers.
BTB-UN's Dividend Yield is rather good when compared to the S&P500 average which is at 2.38.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 9.04% |
5.2 History
The dividend of BTB-UN decreases each year by -6.72%.
BTB-UN has been paying a dividend for at least 10 years, so it has a reliable track record.
BTB-UN has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)-6.72%
Div Incr Years1
Div Non Decr Years3
5.3 Sustainability
BTB-UN pays out 58.79% of its income as dividend. This is a bit on the high side, but may be sustainable.
DP58.79%
EPS Next 2Y13.19%
EPS Next 3YN/A
TSX:BTB-UN (7/4/2025, 7:00:00 PM)
3.68
+0.05 (+1.38%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners0.81%
Inst Owner ChangeN/A
Ins Owners1.86%
Ins Owner ChangeN/A
Market Cap324.69M
Analysts72.5
Price Target3.72 (1.09%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 9.04% |
Yearly Dividend0.26
Dividend Growth(5Y)-6.72%
DP58.79%
Div Incr Years1
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)2.46%
PT rev (3m)0%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.36 | ||
| Fwd PE | 8.89 | ||
| P/S | 2.46 | ||
| P/FCF | 4.69 | ||
| P/OCF | 4.69 | ||
| P/B | 0.65 | ||
| P/tB | 0.65 | ||
| EV/EBITDA | 13.29 |
EPS(TTM)0.44
EY11.96%
EPS(NY)0.41
Fwd EY11.25%
FCF(TTM)0.78
FCFY21.32%
OCF(TTM)0.78
OCFY21.32%
SpS1.49
BVpS5.62
TBVpS5.62
PEG (NY)0.45
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.1% | ||
| ROE | 7.9% | ||
| ROCE | 6.34% | ||
| ROIC | 4.44% | ||
| ROICexc | 4.46% | ||
| ROICexgc | 4.46% | ||
| OM | 58.05% | ||
| PM (TTM) | 29.74% | ||
| GM | 80.13% | ||
| FCFM | 52.52% |
ROA(3y)3.1%
ROA(5y)2.66%
ROE(3y)7.92%
ROE(5y)6.98%
ROIC(3y)4.42%
ROIC(5y)4.2%
ROICexc(3y)4.43%
ROICexc(5y)4.22%
ROICexgc(3y)4.43%
ROICexgc(5y)4.22%
ROCE(3y)6.3%
ROCE(5y)5.98%
ROICexcg growth 3Y5.92%
ROICexcg growth 5Y1.88%
ROICexc growth 3Y5.92%
ROICexc growth 5Y1.88%
OM growth 3Y0.93%
OM growth 5Y1.2%
PM growth 3Y-10.4%
PM growth 5Y-11.68%
GM growth 3Y0.72%
GM growth 5Y0.59%
F-Score6
Asset Turnover0.1
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.49 | ||
| Debt/FCF | 10.65 | ||
| Debt/EBITDA | 9.62 | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 2.36 | ||
| Cash Conversion | 90.39% | ||
| Profit Quality | 176.61% | ||
| Current Ratio | 0.32 | ||
| Quick Ratio | 0.32 | ||
| Altman-Z | 0.23 |
F-Score6
WACC5.75%
ROIC/WACC0.77
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)179.15%
Profit Quality(5y)449.53%
High Growth Momentum
Growth
EPS 1Y (TTM)10.24%
EPS 3Y-8.84%
EPS 5Y-12.94%
EPS Q2Q%4.9%
EPS Next Y18.75%
EPS Next 2Y13.19%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)3.34%
Revenue growth 3Y9.02%
Revenue growth 5Y6.8%
Sales Q2Q%5.44%
Revenue Next Year4.76%
Revenue Next 2Y3.88%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y2.38%
EBIT growth 3Y10.03%
EBIT growth 5Y8.08%
EBIT Next Year-4.7%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-1.83%
FCF growth 3Y5.42%
FCF growth 5Y6.95%
OCF growth 1Y-1.8%
OCF growth 3Y5.3%
OCF growth 5Y6.93%