BTB REAL ESTATE INVESTMENT T (BTB-UN.CA) Fundamental Analysis & Valuation

TSX:BTB-UN • CA11777P3007

Current stock price

3.86 CAD
+0.05 (+1.31%)
Last:

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

7

1. BTB-UN.CA Profitability Analysis

1.1 Basic Checks

  • In the past year BTB-UN was profitable.
  • BTB-UN had a positive operating cash flow in the past year.
  • 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.
BTB-UN.CA Yearly Net Income VS EBIT VS OCF VS FCFBTB-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 20M 40M 60M

1.2 Ratios

  • With an excellent Return On Assets value of 3.37%, BTB-UN belongs to the best of the industry, outperforming 85.71% of the companies in the same industry.
  • BTB-UN has a Return On Equity of 8.49%. This is amongst the best in the industry. BTB-UN outperforms 88.57% of its industry peers.
  • The Return On Invested Capital of BTB-UN (4.43%) is comparable to the rest of the industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for BTB-UN is in line with the industry average of 5.56%.
  • The 3 year average ROIC (4.42%) for BTB-UN is below the current ROIC(4.43%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 3.37%
ROE 8.49%
ROIC 4.43%
ROA(3y)3.1%
ROA(5y)2.66%
ROE(3y)7.92%
ROE(5y)6.98%
ROIC(3y)4.42%
ROIC(5y)4.2%
BTB-UN.CA Yearly ROA, ROE, ROICBTB-UN.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10

1.3 Margins

  • With a decent Profit Margin value of 32.42%, BTB-UN is doing good in the industry, outperforming 74.29% of the companies in the same industry.
  • BTB-UN's Profit Margin has declined in the last couple of years.
  • Looking at the Operating Margin, with a value of 58.11%, BTB-UN is in the better half of the industry, outperforming 65.71% of the companies in the same industry.
  • BTB-UN's Operating Margin has been stable in the last couple of years.
  • BTB-UN has a Gross Margin of 80.30%. This is amongst the best in the industry. BTB-UN outperforms 91.43% of its industry peers.
  • BTB-UN's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 58.11%
PM (TTM) 32.42%
GM 80.3%
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%
BTB-UN.CA Yearly Profit, Operating, Gross MarginsBTB-UN.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60 80

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2

2. BTB-UN.CA Health Analysis

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.
  • Compared to 1 year ago, BTB-UN has more shares outstanding
  • BTB-UN has more shares outstanding than it did 5 years ago.
  • BTB-UN has a better debt/assets ratio than last year.
BTB-UN.CA Yearly Shares OutstandingBTB-UN.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M
BTB-UN.CA Yearly Total Debt VS Total AssetsBTB-UN.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

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.
  • With a Altman-Z score value of 0.23, BTB-UN is not doing good in the industry: 62.86% of the companies in the same industry are doing better.
  • The Debt to FCF ratio of BTB-UN is 10.59, which is on the high side as it means it would take BTB-UN, 10.59 years of fcf income to pay off all of its debts.
  • The Debt to FCF ratio of BTB-UN (10.59) is better than 71.43% of its industry peers.
  • BTB-UN has a Debt/Equity ratio of 1.45. This is a high value indicating a heavy dependency on external financing.
  • BTB-UN has a Debt to Equity ratio of 1.45. This is in the lower half of the industry: BTB-UN underperforms 68.57% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.45
Debt/FCF 10.59
Altman-Z 0.23
ROIC/WACC0.8
WACC5.55%
BTB-UN.CA Yearly LT Debt VS Equity VS FCFBTB-UN.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M

2.3 Liquidity

  • A Current Ratio of 0.35 indicates that BTB-UN may have some problems paying its short term obligations.
  • With a decent Current ratio value of 0.35, BTB-UN is doing good in the industry, outperforming 65.71% of the companies in the same industry.
  • A Quick Ratio of 0.35 indicates that BTB-UN may have some problems paying its short term obligations.
  • With a decent Quick ratio value of 0.35, BTB-UN is doing good in the industry, outperforming 68.57% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.35
Quick Ratio 0.35
BTB-UN.CA Yearly Current Assets VS Current LiabilitesBTB-UN.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M

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

4

3. BTB-UN.CA Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an impressive 95.16% over the past year.
  • BTB-UN shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -12.94% yearly.
  • BTB-UN shows a small growth in Revenue. In the last year, the Revenue has grown by 0.92%.
  • BTB-UN shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 6.80% yearly.
EPS 1Y (TTM)95.16%
EPS 3Y-8.84%
EPS 5Y-12.94%
EPS Q2Q%78%
Revenue 1Y (TTM)0.92%
Revenue growth 3Y9.02%
Revenue growth 5Y6.8%
Sales Q2Q%1.14%

3.2 Future

  • BTB-UN is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 4.96% yearly.
  • BTB-UN is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.27% yearly.
EPS Next Y9.38%
EPS Next 2Y6.07%
EPS Next 3Y4.96%
EPS Next 5YN/A
Revenue Next Year3.51%
Revenue Next 2Y2.09%
Revenue Next 3Y2.27%
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.
BTB-UN.CA Yearly Revenue VS EstimatesBTB-UN.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 20M 40M 60M 80M 100M
BTB-UN.CA Yearly EPS VS EstimatesBTB-UN.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2022 2023 2024 2025 2026 2027 0.1 0.2 0.3 0.4 0.5

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8

4. BTB-UN.CA Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 8.21 indicates a reasonable valuation of BTB-UN.
  • Based on the Price/Earnings ratio, BTB-UN is valued cheaply inside the industry as 97.14% of the companies are valued more expensively.
  • BTB-UN is valuated cheaply when we compare the Price/Earnings ratio to 26.11, which is the current average of the S&P500 Index.
  • The Price/Forward Earnings ratio is 10.62, which indicates a very decent valuation of BTB-UN.
  • Based on the Price/Forward Earnings ratio, BTB-UN is valued cheaply inside the industry as 88.57% of the companies are valued more expensively.
  • BTB-UN's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 24.12.
Industry RankSector Rank
PE 8.21
Fwd PE 10.62
BTB-UN.CA Price Earnings VS Forward Price EarningsBTB-UN.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

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 88.57% of the companies in the same industry.
  • Based on the Price/Free Cash Flow ratio, BTB-UN is valued cheaply inside the industry as 88.57% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 4.98
EV/EBITDA 13.51
BTB-UN.CA Per share dataBTB-UN.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 1 2 3 4 5

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.
PEG (NY)0.88
PEG (5Y)N/A
EPS Next 2Y6.07%
EPS Next 3Y4.96%

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6

5. BTB-UN.CA Dividend Analysis

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 7.24, 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 1.91.
Industry RankSector Rank
Dividend Yield 9.04%

5.2 History

  • The dividend of BTB-UN decreases each year by -6.72%.
  • BTB-UN has paid a dividend for at least 10 years, which is 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
BTB-UN.CA Yearly Dividends per shareBTB-UN.CA Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.1 0.2 0.3 0.4

5.3 Sustainability

  • 59.75% of the earnings are spent on dividend by BTB-UN. This is a bit on the high side, but may be sustainable.
DP59.75%
EPS Next 2Y6.07%
EPS Next 3Y4.96%
BTB-UN.CA Yearly Income VS Free CF VS DividendBTB-UN.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M
BTB-UN.CA Dividend Payout.BTB-UN.CA Dividend Payout, showing the Payout Ratio.BTB-UN.CA Dividend Payout.PayoutRetained Earnings

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

BTB REAL ESTATE INVESTMENT T

TSX:BTB-UN (3/17/2026, 7:00:00 PM)

3.86

+0.05 (+1.31%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)02-25
Earnings (Next)05-04
Inst Owners0.68%
Inst Owner ChangeN/A
Ins Owners1.97%
Ins Owner ChangeN/A
Market Cap340.72M
Revenue(TTM)130.47M
Net Income(TTM)42.30M
Analysts51.11
Price Target4.14 (7.25%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 9.04%
Yearly Dividend0.26
Dividend Growth(5Y)-6.72%
DP59.75%
Div Incr Years1
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)1.88%
PT rev (3m)1.88%
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 RankSector Rank
PE 8.21
Fwd PE 10.62
P/S 2.61
P/FCF 4.98
P/OCF 4.97
P/B 0.68
P/tB 0.68
EV/EBITDA 13.51
EPS(TTM)0.47
EY12.18%
EPS(NY)0.36
Fwd EY9.42%
FCF(TTM)0.77
FCFY20.07%
OCF(TTM)0.78
OCFY20.11%
SpS1.48
BVpS5.65
TBVpS5.65
PEG (NY)0.88
PEG (5Y)N/A
Graham Number7.73
Profitability
Industry RankSector Rank
ROA 3.37%
ROE 8.49%
ROCE 6.33%
ROIC 4.43%
ROICexc 4.45%
ROICexgc 4.45%
OM 58.11%
PM (TTM) 32.42%
GM 80.3%
FCFM 52.41%
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%
ROICexgc growth 3Y5.92%
ROICexgc 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 RankSector Rank
Debt/Equity 1.45
Debt/FCF 10.59
Debt/EBITDA 9.54
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 2.23
Cash Conversion 90.28%
Profit Quality 161.66%
Current Ratio 0.35
Quick Ratio 0.35
Altman-Z 0.23
F-Score6
WACC5.55%
ROIC/WACC0.8
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)95.16%
EPS 3Y-8.84%
EPS 5Y-12.94%
EPS Q2Q%78%
EPS Next Y9.38%
EPS Next 2Y6.07%
EPS Next 3Y4.96%
EPS Next 5YN/A
Revenue 1Y (TTM)0.92%
Revenue growth 3Y9.02%
Revenue growth 5Y6.8%
Sales Q2Q%1.14%
Revenue Next Year3.51%
Revenue Next 2Y2.09%
Revenue Next 3Y2.27%
Revenue Next 5YN/A
EBIT growth 1Y0.27%
EBIT growth 3Y10.03%
EBIT growth 5Y8.08%
EBIT Next Year-10.13%
EBIT Next 3Y-1.96%
EBIT Next 5YN/A
FCF growth 1Y0.1%
FCF growth 3Y5.42%
FCF growth 5Y6.95%
OCF growth 1Y0.41%
OCF growth 3Y5.3%
OCF growth 5Y6.93%

BTB REAL ESTATE INVESTMENT T / BTB-UN.CA Fundamental Analysis FAQ

What is the ChartMill fundamental rating of BTB REAL ESTATE INVESTMENT T (BTB-UN.CA) stock?

ChartMill assigns a fundamental rating of 5 / 10 to BTB-UN.CA.


What is the valuation status of BTB REAL ESTATE INVESTMENT T (BTB-UN.CA) stock?

ChartMill assigns a valuation rating of 8 / 10 to BTB REAL ESTATE INVESTMENT T (BTB-UN.CA). This can be considered as Undervalued.


How profitable is BTB REAL ESTATE INVESTMENT T (BTB-UN.CA) stock?

BTB REAL ESTATE INVESTMENT T (BTB-UN.CA) has a profitability rating of 7 / 10.


What are the PE and PB ratios of BTB REAL ESTATE INVESTMENT T (BTB-UN.CA) stock?

The Price/Earnings (PE) ratio for BTB REAL ESTATE INVESTMENT T (BTB-UN.CA) is 8.21 and the Price/Book (PB) ratio is 0.68.


What is the expected EPS growth for BTB REAL ESTATE INVESTMENT T (BTB-UN.CA) stock?

The Earnings per Share (EPS) of BTB REAL ESTATE INVESTMENT T (BTB-UN.CA) is expected to grow by 9.38% in the next year.