BTB REAL ESTATE INVESTMENT T (BTB-UN.CA) Stock Fundamental Analysis
Canada - Toronto Stock Exchange - TSX:BTB-UN - CA11777P3007 - REIT
4.05 CAD
+0.02 (+0.5%)
We assign a fundamental rating of 5 out of 10 to BTB-UN. BTB-UN was compared to 38 industry peers in the Diversified REITs industry. BTB-UN has an excellent profitability rating, but there are concerns on its financial health. BTB-UN may be a bit undervalued, certainly considering the very reasonable score on growth
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.
BTB-UN had positive earnings in each of the past 5 years.
Each year in the past 5 years BTB-UN had a positive operating cash flow.
1.2 Ratios
BTB-UN has a Return On Assets of 3.37%. This is amongst the best in the industry. BTB-UN outperforms 94.74% of its industry peers.
BTB-UN has a better Return On Equity (8.49%) than 92.11% of its industry peers.
BTB-UN has a Return On Invested Capital of 4.43%. This is in the better half of the industry: BTB-UN outperforms 73.68% of its industry peers.
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 5.49%.
The last Return On Invested Capital (4.43%) for BTB-UN is above the 3 year average (4.42%), which is a sign of increasing profitability.
| Industry Rank | Sector 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%
1.3 Margins
The Profit Margin of BTB-UN (32.42%) is better than 76.32% of its industry peers.
In the last couple of years the Profit Margin of BTB-UN has declined.
BTB-UN has a Operating Margin of 58.11%. This is in the better half of the industry: BTB-UN outperforms 68.42% of its industry peers.
In the last couple of years the Operating Margin of BTB-UN has remained more or less at the same level.
BTB-UN's Gross Margin of 80.30% 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 | 58.11% | ||
| 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%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), 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.
2.2 Solvency
Based on the Altman-Z score of 0.24, we must say that BTB-UN is in the distress zone and has some risk of bankruptcy.
BTB-UN has a Altman-Z score of 0.24. This is in the lower half of the industry: BTB-UN underperforms 63.16% of its industry peers.
BTB-UN has a debt to FCF ratio of 10.59. This is a negative value and a sign of low solvency as BTB-UN would need 10.59 years to pay back of all of its debts.
BTB-UN's Debt to FCF ratio of 10.59 is amongst the best of the industry. BTB-UN outperforms 81.58% of its industry peers.
A Debt/Equity ratio of 1.45 is on the high side and indicates that BTB-UN has dependencies on debt financing.
BTB-UN has a worse Debt to Equity ratio (1.45) than 60.53% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.45 | ||
| Debt/FCF | 10.59 | ||
| Altman-Z | 0.24 |
ROIC/WACC0.8
WACC5.56%
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 65.79% of the companies in the same industry.
BTB-UN has a Quick Ratio of 0.35. This is a bad value and indicates that BTB-UN is not financially healthy enough and could expect problems in meeting its short term obligations.
With a decent Quick ratio value of 0.35, BTB-UN is doing good in the industry, outperforming 71.05% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.35 | ||
| Quick Ratio | 0.35 |
3. Growth
3.1 Past
BTB-UN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 95.16%, which is quite impressive.
The earnings per share for BTB-UN have been decreasing by -12.94% on average. This is quite bad
The Revenue has been growing slightly by 0.92% in the past year.
The Revenue has been growing slightly by 6.80% on average over the past years.
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
The Earnings Per Share is expected to grow by 5.90% on average over the next years.
BTB-UN is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.78% yearly.
EPS Next Y9.38%
EPS Next 2Y6.07%
EPS Next 3Y5.9%
EPS Next 5YN/A
Revenue Next Year3.51%
Revenue Next 2Y1.95%
Revenue Next 3Y2.78%
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 accelerating.
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
The Price/Earnings ratio is 8.62, which indicates a very decent valuation of BTB-UN.
97.37% of the companies in the same industry are more expensive than BTB-UN, based on the Price/Earnings ratio.
BTB-UN is valuated cheaply when we compare the Price/Earnings ratio to 26.26, which is the current average of the S&P500 Index.
The Price/Forward Earnings ratio is 11.14, which indicates a very decent valuation of BTB-UN.
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 81.58% of the companies listed in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 23.68, BTB-UN is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.62 | ||
| Fwd PE | 11.14 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, BTB-UN is valued cheaper than 86.84% of the companies in the same industry.
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 89.47% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 5.23 | ||
| EV/EBITDA | 13.73 |
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.
BTB-UN has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)0.92
PEG (5Y)N/A
EPS Next 2Y6.07%
EPS Next 3Y5.9%
5. Dividend
5.1 Amount
BTB-UN has a Yearly Dividend Yield of 9.04%, which is a nice return.
BTB-UN's Dividend Yield is a higher than the industry average which is at 7.11.
BTB-UN's Dividend Yield is rather good when compared to the S&P500 average which is at 1.87.
| 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 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
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 3Y5.9%
TSX:BTB-UN (12/18/2025, 7:00:00 PM)
4.05
+0.02 (+0.5%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners0.68%
Inst Owner ChangeN/A
Ins Owners1.92%
Ins Owner ChangeN/A
Market Cap357.33M
Revenue(TTM)130.47M
Net Income(TTM)42.30M
Analysts72.5
Price Target4.07 (0.49%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 9.04% |
Yearly Dividend0.26
Dividend Growth(5Y)-6.72%
DP59.75%
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)6.33%
PT rev (3m)7.77%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)2.94%
EPS NY rev (3m)2.94%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.43%
Revenue NY rev (3m)-0.43%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.62 | ||
| Fwd PE | 11.14 | ||
| P/S | 2.74 | ||
| P/FCF | 5.23 | ||
| P/OCF | 5.21 | ||
| P/B | 0.72 | ||
| P/tB | 0.72 | ||
| EV/EBITDA | 13.73 |
EPS(TTM)0.47
EY11.6%
EPS(NY)0.36
Fwd EY8.98%
FCF(TTM)0.78
FCFY19.14%
OCF(TTM)0.78
OCFY19.18%
SpS1.48
BVpS5.65
TBVpS5.65
PEG (NY)0.92
PEG (5Y)N/A
Graham Number7.73
Profitability
| Industry Rank | Sector 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 Rank | Sector 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 | 0.24 |
F-Score6
WACC5.56%
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 3Y5.9%
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 2Y1.95%
Revenue Next 3Y2.78%
Revenue Next 5YN/A
EBIT growth 1Y0.27%
EBIT growth 3Y10.03%
EBIT growth 5Y8.08%
EBIT Next Year-10.13%
EBIT Next 3Y-2.44%
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 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 for BTB-UN 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.
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 8.62 and the Price/Book (PB) ratio is 0.72.
Can you provide the expected EPS growth for BTB-UN 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.