DREAM OFFICE REAL ESTATE INV (D-UN.CA) Stock Fundamental Analysis
TSX:D-UN • CA26153P2035
17.25 CAD
-0.34 (-1.93%)
Last: Feb 27, 2026, 07:00 PM
D-UN gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 35 industry peers in the Diversified REITs industry. D-UN has a bad profitability rating. Also its financial health evaluation is rather negative. D-UN has a valuation in line with the averages, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
- D-UN had negative earnings in the past year.
- D-UN had a positive operating cash flow in the past year.
- The reported net income has been mixed in the past 5 years: D-UN reported negative net income in multiple years.
- Each year in the past 5 years D-UN had a positive operating cash flow.
1.2 Ratios
- D-UN has a worse Return On Assets (-7.06%) than 71.43% of its industry peers.
- With a Return On Equity value of -17.79%, D-UN is not doing good in the industry: 71.43% of the companies in the same industry are doing better.
- D-UN has a Return On Invested Capital of 3.10%. This is in the lower half of the industry: D-UN underperforms 74.29% of its industry peers.
- The Average Return On Invested Capital over the past 3 years for D-UN is below the industry average of 5.26%.
- The 3 year average ROIC (2.67%) for D-UN is below the current ROIC(3.10%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -7.06% | ||
| ROE | -17.79% | ||
| ROIC | 3.1% |
ROA(3y)-4.67%
ROA(5y)-1.38%
ROE(3y)-11.31%
ROE(5y)-3.96%
ROIC(3y)2.67%
ROIC(5y)2.59%
1.3 Margins
- Looking at the Operating Margin, with a value of 48.16%, D-UN is doing worse than 60.00% of the companies in the same industry.
- In the last couple of years the Operating Margin of D-UN has remained more or less at the same level.
- With a Gross Margin value of 54.86%, D-UN is not doing good in the industry: 62.86% of the companies in the same industry are doing better.
- In the last couple of years the Gross Margin of D-UN has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 48.16% | ||
| PM (TTM) | N/A | ||
| GM | 54.86% |
OM growth 3Y-0.42%
OM growth 5Y-0.4%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0.48%
GM growth 5Y0.08%
2. Health
2.1 Basic Checks
- The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so D-UN is destroying value.
- The number of shares outstanding for D-UN has been increased compared to 1 year ago.
- D-UN has less shares outstanding than it did 5 years ago.
- The debt/assets ratio for D-UN is higher compared to a year ago.
2.2 Solvency
- Based on the Altman-Z score of -0.33, we must say that D-UN is in the distress zone and has some risk of bankruptcy.
- D-UN's Altman-Z score of -0.33 is on the low side compared to the rest of the industry. D-UN is outperformed by 74.29% of its industry peers.
- The Debt to FCF ratio of D-UN is 17.33, which is on the high side as it means it would take D-UN, 17.33 years of fcf income to pay off all of its debts.
- D-UN has a Debt to FCF ratio of 17.33. This is comparable to the rest of the industry: D-UN outperforms 54.29% of its industry peers.
- A Debt/Equity ratio of 1.25 is on the high side and indicates that D-UN has dependencies on debt financing.
- D-UN has a Debt to Equity ratio of 1.25. This is comparable to the rest of the industry: D-UN outperforms 45.71% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.25 | ||
| Debt/FCF | 17.33 | ||
| Altman-Z | -0.33 |
ROIC/WACC0.53
WACC5.85%
2.3 Liquidity
- D-UN has a Current Ratio of 0.13. This is a bad value and indicates that D-UN is not financially healthy enough and could expect problems in meeting its short term obligations.
- The Current ratio of D-UN (0.13) is worse than 65.71% of its industry peers.
- A Quick Ratio of 0.13 indicates that D-UN may have some problems paying its short term obligations.
- D-UN has a worse Quick ratio (0.13) than 65.71% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.13 | ||
| Quick Ratio | 0.13 |
3. Growth
3.1 Past
- D-UN shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -54.46%.
- D-UN shows a decrease in Revenue. In the last year, the revenue decreased by -6.49%.
- The Revenue has been decreasing by -2.36% on average over the past years.
EPS 1Y (TTM)-54.46%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-27.4%
Revenue 1Y (TTM)-6.49%
Revenue growth 3Y-2.24%
Revenue growth 5Y-2.36%
Sales Q2Q%-10.25%
3.2 Future
- D-UN is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 49.47% yearly.
- The Revenue is expected to grow by 3.17% on average over the next years.
EPS Next Y119.18%
EPS Next 2Y49.47%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year1.26%
Revenue Next 2Y3.17%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
- When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
- D-UN reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
- With a Price/Forward Earnings ratio of 13.32, D-UN is valued correctly.
- 71.43% of the companies in the same industry are more expensive than D-UN, based on the Price/Forward Earnings ratio.
- The average S&P500 Price/Forward Earnings ratio is at 28.05. D-UN is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 13.32 |
4.2 Price Multiples
- 74.29% of the companies in the same industry are more expensive than D-UN, based on the Enterprise Value to EBITDA ratio.
- Compared to the rest of the industry, the Price/Free Cash Flow ratio of D-UN indicates a rather cheap valuation: D-UN is cheaper than 91.43% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 4.58 | ||
| EV/EBITDA | 17.57 |
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.
- D-UN's earnings are expected to grow with 49.47% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y49.47%
EPS Next 3YN/A
5. Dividend
5.1 Amount
- D-UN has a Yearly Dividend Yield of 6.98%, which is a nice return.
- D-UN's Dividend Yield is comparable with the industry average which is at 7.24.
- D-UN's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.98% |
5.2 History
- The dividend of D-UN decreases each year by -0.18%.
- D-UN has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)-0.18%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
- D-UN has negative earnings and hence a negative payout ratio. The dividend may be in danger.
DP-10.22%
EPS Next 2Y49.47%
EPS Next 3YN/A
TSX:D-UN (2/27/2026, 7:00:00 PM)
17.25
-0.34 (-1.93%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)02-19 2026-02-19
Earnings (Next)05-06 2026-05-06
Inst Owners1.56%
Inst Owner ChangeN/A
Ins Owners23.03%
Ins Owner ChangeN/A
Market Cap327.58M
Revenue(TTM)183.38M
Net Income(TTM)-160.11M
Analysts69.33
Price Target19 (10.14%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.98% |
Yearly Dividend1.01
Dividend Growth(5Y)-0.18%
DP-10.22%
Div Incr Years0
Div Non Decr Years0
Ex-Date02-27 2026-02-27 (0.08333)
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)-1.97%
PT rev (3m)-3.66%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-3.79%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-1.97%
Revenue NY rev (3m)-1.38%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 13.32 | ||
| P/S | 1.79 | ||
| P/FCF | 4.58 | ||
| P/OCF | 4.58 | ||
| P/B | 0.36 | ||
| P/tB | 0.36 | ||
| EV/EBITDA | 17.57 |
EPS(TTM)-8.4
EYN/A
EPS(NY)1.3
Fwd EY7.51%
FCF(TTM)3.77
FCFY21.83%
OCF(TTM)3.77
OCFY21.83%
SpS9.66
BVpS47.39
TBVpS47.39
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -7.06% | ||
| ROE | -17.79% | ||
| ROCE | 4.3% | ||
| ROIC | 3.1% | ||
| ROICexc | 3.12% | ||
| ROICexgc | 3.12% | ||
| OM | 48.16% | ||
| PM (TTM) | N/A | ||
| GM | 54.86% | ||
| FCFM | 39% |
ROA(3y)-4.67%
ROA(5y)-1.38%
ROE(3y)-11.31%
ROE(5y)-3.96%
ROIC(3y)2.67%
ROIC(5y)2.59%
ROICexc(3y)2.68%
ROICexc(5y)2.61%
ROICexgc(3y)2.68%
ROICexgc(5y)2.61%
ROCE(3y)3.7%
ROCE(5y)3.6%
ROICexgc growth 3Y6.25%
ROICexgc growth 5Y2.85%
ROICexc growth 3Y6.25%
ROICexc growth 5Y2.85%
OM growth 3Y-0.42%
OM growth 5Y-0.4%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0.48%
GM growth 5Y0.08%
F-Score5
Asset Turnover0.08
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.25 | ||
| Debt/FCF | 17.33 | ||
| Debt/EBITDA | 12.78 | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 1.37 | ||
| Cash Conversion | 80.97% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.13 | ||
| Quick Ratio | 0.13 | ||
| Altman-Z | -0.33 |
F-Score5
WACC5.85%
ROIC/WACC0.53
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-54.46%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-27.4%
EPS Next Y119.18%
EPS Next 2Y49.47%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-6.49%
Revenue growth 3Y-2.24%
Revenue growth 5Y-2.36%
Sales Q2Q%-10.25%
Revenue Next Year1.26%
Revenue Next 2Y3.17%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y33.28%
EBIT growth 3Y-2.65%
EBIT growth 5Y-2.74%
EBIT Next Year7.94%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-1.21%
FCF growth 3Y-2.29%
FCF growth 5Y-5.38%
OCF growth 1Y-1.21%
OCF growth 3Y-2.29%
OCF growth 5Y-5.38%
DREAM OFFICE REAL ESTATE INV / D-UN.CA FAQ
Can you provide the ChartMill fundamental rating for DREAM OFFICE REAL ESTATE INV?
ChartMill assigns a fundamental rating of 3 / 10 to D-UN.CA.
What is the valuation status for D-UN stock?
ChartMill assigns a valuation rating of 6 / 10 to DREAM OFFICE REAL ESTATE INV (D-UN.CA). This can be considered as Fairly Valued.
Can you provide the profitability details for DREAM OFFICE REAL ESTATE INV?
DREAM OFFICE REAL ESTATE INV (D-UN.CA) has a profitability rating of 3 / 10.
How financially healthy is DREAM OFFICE REAL ESTATE INV?
The financial health rating of DREAM OFFICE REAL ESTATE INV (D-UN.CA) is 1 / 10.