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

TSX:BTB-UN • CA11777P3007

Current stock price

3.92 CAD
+0.03 (+0.77%)
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

  • BTB-UN had positive earnings in the past year.
  • BTB-UN had a positive operating cash flow in the past year.
  • In the past 5 years BTB-UN has always been profitable.
  • In the past 5 years BTB-UN always reported a positive cash flow from operatings.
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 2025 20M 40M 60M

1.2 Ratios

  • BTB-UN has a better Return On Assets (1.80%) than 66.67% of its industry peers.
  • The Return On Equity of BTB-UN (4.56%) is better than 63.64% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 4.42%, BTB-UN is in line with its industry, outperforming 54.55% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for BTB-UN is in line with the industry average of 5.67%.
Industry RankSector Rank
ROA 1.8%
ROE 4.56%
ROIC 4.42%
ROA(3y)2.62%
ROA(5y)2.96%
ROE(3y)6.69%
ROE(5y)7.72%
ROIC(3y)4.43%
ROIC(5y)4.27%
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 2025 5 10

1.3 Margins

  • Looking at the Profit Margin, with a value of 17.19%, BTB-UN is in the better half of the industry, outperforming 60.61% of the companies in the same industry.
  • BTB-UN's Profit Margin has improved in the last couple of years.
  • Looking at the Operating Margin, with a value of 57.67%, BTB-UN is in the better half of the industry, outperforming 63.64% of the companies in the same industry.
  • In the last couple of years the Operating Margin of BTB-UN has remained more or less at the same level.
  • With an excellent Gross Margin value of 79.65%, BTB-UN belongs to the best of the industry, outperforming 90.91% of the companies in the same industry.
  • In the last couple of years the Gross Margin of BTB-UN has remained more or less at the same level.
Industry RankSector Rank
OM 57.67%
PM (TTM) 17.19%
GM 79.65%
OM growth 3Y-0.72%
OM growth 5Y0.9%
PM growth 3Y-18.65%
PM growth 5Y40.49%
GM growth 3Y-0.52%
GM growth 5Y0.14%
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 2025 20 40 60 80

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2

2. BTB-UN.CA Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so BTB-UN is destroying value.
  • Compared to 1 year ago, BTB-UN has more shares outstanding
  • Compared to 5 years ago, BTB-UN has more shares outstanding
  • Compared to 1 year ago, BTB-UN has an improved debt to assets ratio.
BTB-UN.CA Yearly Shares OutstandingBTB-UN.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 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 2025 200M 400M 600M 800M 1B

2.2 Solvency

  • Based on the Altman-Z score of 0.22, we must say that BTB-UN is in the distress zone and has some risk of bankruptcy.
  • BTB-UN's Altman-Z score of 0.22 is on the low side compared to the rest of the industry. BTB-UN is outperformed by 63.64% of its industry peers.
  • BTB-UN has a debt to FCF ratio of 10.22. This is a negative value and a sign of low solvency as BTB-UN would need 10.22 years to pay back of all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 10.22, BTB-UN is in the better half of the industry, outperforming 75.76% of the companies in the same industry.
  • BTB-UN has a Debt/Equity ratio of 1.47. This is a high value indicating a heavy dependency on external financing.
  • The Debt to Equity ratio of BTB-UN (1.47) is worse than 72.73% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.47
Debt/FCF 10.22
Altman-Z 0.22
ROIC/WACC0.79
WACC5.57%
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 2025 200M 400M 600M

2.3 Liquidity

  • A Current Ratio of 0.27 indicates that BTB-UN may have some problems paying its short term obligations.
  • Looking at the Current ratio, with a value of 0.27, BTB-UN is in the better half of the industry, outperforming 60.61% of the companies in the same industry.
  • A Quick Ratio of 0.27 indicates that BTB-UN may have some problems paying its short term obligations.
  • BTB-UN has a Quick ratio of 0.27. This is in the better half of the industry: BTB-UN outperforms 63.64% of its industry peers.
Industry RankSector Rank
Current Ratio 0.27
Quick Ratio 0.27
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 2025 20M 40M 60M

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

3

3. BTB-UN.CA Growth Analysis

3.1 Past

  • The earnings per share for BTB-UN have decreased strongly by -41.72% in the last year.
  • The Earnings Per Share has been growing by 38.17% on average over the past years. This is a very strong growth
  • Looking at the last year, BTB-UN shows a small growth in Revenue. The Revenue has grown by 0.08% in the last year.
  • BTB-UN shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 6.96% yearly.
EPS 1Y (TTM)-41.72%
EPS 3Y-18.04%
EPS 5Y38.17%
EPS Q2Q%-105%
Revenue 1Y (TTM)0.08%
Revenue growth 3Y2.89%
Revenue growth 5Y6.96%
Sales Q2Q%-1.02%

3.2 Future

  • BTB-UN is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -1.44% yearly.
  • The Revenue is expected to grow by 0.54% on average over the next years.
EPS Next Y-8.57%
EPS Next 2Y-1.44%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-2.3%
Revenue Next 2Y0.54%
Revenue Next 3YN/A
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.
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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6

4. BTB-UN.CA Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 15.68, BTB-UN is valued correctly.
  • BTB-UN's Price/Earnings ratio is a bit cheaper when compared to the industry. BTB-UN is cheaper than 72.73% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 26.78. BTB-UN is valued slightly cheaper when compared to this.
  • Based on the Price/Forward Earnings ratio of 12.13, the valuation of BTB-UN can be described as correct.
  • BTB-UN's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. BTB-UN is cheaper than 78.79% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 23.54. BTB-UN is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 15.68
Fwd PE 12.13
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

  • Based on the Enterprise Value to EBITDA ratio, BTB-UN is valued cheaply inside the industry as 93.94% of the companies are valued more expensively.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of BTB-UN indicates a rather cheap valuation: BTB-UN is cheaper than 87.88% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 4.91
EV/EBITDA 13.65
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 has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.41
EPS Next 2Y-1.44%
EPS Next 3YN/A

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5

5. BTB-UN.CA Dividend Analysis

5.1 Amount

  • BTB-UN has a Yearly Dividend Yield of 9.04%, which is a nice return.
  • BTB-UN's Dividend Yield is rather good when compared to the industry average which is at 6.41. BTB-UN pays more dividend than 84.85% of the companies in the same industry.
  • BTB-UN's Dividend Yield is rather good when compared to the S&P500 average which is at 1.83.
Industry RankSector Rank
Dividend Yield 9.04%

5.2 History

  • The dividend of BTB-UN decreases each year by -0.58%.
  • BTB-UN has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)-0.58%
Div Incr Years0
Div Non Decr Years0
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

  • BTB-UN pays out 115.75% of its income as dividend. This is not a sustainable payout ratio.
  • The Dividend Rate of BTB-UN has been decling, while earnings will also be declining. This means the current dividend is most likely not sustainable.
DP115.75%
EPS Next 2Y-1.44%
EPS Next 3YN/A
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 2025 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 (4/10/2026, 7:00:00 PM)

3.92

+0.03 (+0.77%)

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 Owners0.66%
Inst Owner ChangeN/A
Ins Owners2.09%
Ins Owner ChangeN/A
Market Cap346.02M
Revenue(TTM)130.14M
Net Income(TTM)22.37M
Analysts51.11
Price Target4.14 (5.61%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 9.04%
Yearly Dividend0.29
Dividend Growth(5Y)-0.58%
DP115.75%
Div Incr Years0
Div Non Decr Years0
Ex-Date03-31
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)1.88%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-11.11%
EPS NY rev (3m)-11.11%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-2.98%
Revenue NY rev (3m)-2.7%
Valuation
Industry RankSector Rank
PE 15.68
Fwd PE 12.13
P/S 2.66
P/FCF 4.91
P/OCF 4.9
P/B 0.7
P/tB 0.7
EV/EBITDA 13.65
EPS(TTM)0.25
EY6.38%
EPS(NY)0.32
Fwd EY8.24%
FCF(TTM)0.8
FCFY20.36%
OCF(TTM)0.8
OCFY20.4%
SpS1.47
BVpS5.56
TBVpS5.56
PEG (NY)N/A
PEG (5Y)0.41
Graham Number5.59
Profitability
Industry RankSector Rank
ROA 1.8%
ROE 4.56%
ROCE 6.32%
ROIC 4.42%
ROICexc 4.44%
ROICexgc 4.44%
OM 57.67%
PM (TTM) 17.19%
GM 79.65%
FCFM 54.12%
ROA(3y)2.62%
ROA(5y)2.96%
ROE(3y)6.69%
ROE(5y)7.72%
ROIC(3y)4.43%
ROIC(5y)4.27%
ROICexc(3y)4.44%
ROICexc(5y)4.28%
ROICexgc(3y)4.44%
ROICexgc(5y)4.28%
ROCE(3y)6.36%
ROCE(5y)6.09%
ROICexgc growth 3Y0.39%
ROICexgc growth 5Y1.57%
ROICexc growth 3Y0.39%
ROICexc growth 5Y1.57%
OM growth 3Y-0.72%
OM growth 5Y0.9%
PM growth 3Y-18.65%
PM growth 5Y40.49%
GM growth 3Y-0.52%
GM growth 5Y0.14%
F-Score5
Asset Turnover0.1
Health
Industry RankSector Rank
Debt/Equity 1.47
Debt/FCF 10.22
Debt/EBITDA 9.58
Cap/Depr 119.86%
Cap/Sales 0.13%
Interest Coverage 2.27
Cash Conversion 93.89%
Profit Quality 314.85%
Current Ratio 0.27
Quick Ratio 0.27
Altman-Z 0.22
F-Score5
WACC5.57%
ROIC/WACC0.79
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)226.23%
Profit Quality(5y)197.57%
High Growth Momentum
Growth
EPS 1Y (TTM)-41.72%
EPS 3Y-18.04%
EPS 5Y38.17%
EPS Q2Q%-105%
EPS Next Y-8.57%
EPS Next 2Y-1.44%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)0.08%
Revenue growth 3Y2.89%
Revenue growth 5Y6.96%
Sales Q2Q%-1.02%
Revenue Next Year-2.3%
Revenue Next 2Y0.54%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-0.41%
EBIT growth 3Y2.14%
EBIT growth 5Y7.92%
EBIT Next Year-10.05%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y6.71%
FCF growth 3Y2.07%
FCF growth 5Y8.9%
OCF growth 1Y6.97%
OCF growth 3Y2.15%
OCF growth 5Y8.88%

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 4 / 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 6 / 10 to BTB REAL ESTATE INVESTMENT T (BTB-UN.CA). This can be considered as Fairly Valued.


Can you provide the profitability details for BTB REAL ESTATE INVESTMENT T?

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


Can you provide the PE and PB ratios for BTB-UN stock?

The Price/Earnings (PE) ratio for BTB REAL ESTATE INVESTMENT T (BTB-UN.CA) is 15.68 and the Price/Book (PB) ratio is 0.7.


Is the dividend of BTB REAL ESTATE INVESTMENT T sustainable?

The dividend rating of BTB REAL ESTATE INVESTMENT T (BTB-UN.CA) is 5 / 10 and the dividend payout ratio is 115.75%.