DREAM INDUSTRIAL REAL ESTATE (DIR-UN.CA) Fundamental Analysis & Valuation

TSX:DIR-UN • CA26153W1095

Current stock price

12.35 CAD
-0.12 (-0.96%)
Last:

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

7

1. DIR-UN.CA Profitability Analysis

1.1 Basic Checks

  • In the past year DIR-UN was profitable.
  • DIR-UN had a positive operating cash flow in the past year.
  • Each year in the past 5 years DIR-UN has been profitable.
  • Each year in the past 5 years DIR-UN had a positive operating cash flow.
DIR-UN.CA Yearly Net Income VS EBIT VS OCF VS FCFDIR-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 0 200M 400M 600M

1.2 Ratios

  • Looking at the Return On Assets, with a value of 2.01%, DIR-UN is in the better half of the industry, outperforming 66.67% of the companies in the same industry.
  • Looking at the Return On Equity, with a value of 3.55%, DIR-UN is in line with its industry, outperforming 57.58% of the companies in the same industry.
  • Looking at the Return On Invested Capital, with a value of 3.09%, DIR-UN is doing worse than 81.82% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for DIR-UN is below the industry average of 5.81%.
  • The last Return On Invested Capital (3.09%) for DIR-UN is above the 3 year average (3.02%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 2.01%
ROE 3.55%
ROIC 3.09%
ROA(3y)2.18%
ROA(5y)5.26%
ROE(3y)3.77%
ROE(5y)8.91%
ROIC(3y)3.02%
ROIC(5y)2.74%
DIR-UN.CA Yearly ROA, ROE, ROICDIR-UN.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5 10 15

1.3 Margins

  • DIR-UN has a better Profit Margin (33.73%) than 72.73% of its industry peers.
  • In the last couple of years the Profit Margin of DIR-UN has declined.
  • With an excellent Operating Margin value of 65.14%, DIR-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 Operating Margin of DIR-UN has grown nicely.
  • With an excellent Gross Margin value of 76.35%, DIR-UN belongs to the best of the industry, outperforming 87.88% of the companies in the same industry.
  • DIR-UN's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 65.14%
PM (TTM) 33.73%
GM 76.35%
OM growth 3Y0.6%
OM growth 5Y2.77%
PM growth 3Y-43.9%
PM growth 5Y-16.84%
GM growth 3Y0.07%
GM growth 5Y1.55%
DIR-UN.CA Yearly Profit, Operating, Gross MarginsDIR-UN.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50 100 150 200

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5

2. DIR-UN.CA Health Analysis

2.1 Basic Checks

  • The number of shares outstanding for DIR-UN has been increased compared to 1 year ago.
  • DIR-UN has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, DIR-UN has a worse debt to assets ratio.
DIR-UN.CA Yearly Shares OutstandingDIR-UN.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M 250M
DIR-UN.CA Yearly Total Debt VS Total AssetsDIR-UN.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B

2.2 Solvency

  • Based on the Altman-Z score of 0.99, we must say that DIR-UN is in the distress zone and has some risk of bankruptcy.
  • The Altman-Z score of DIR-UN (0.99) is better than 78.79% of its industry peers.
  • The Debt to FCF ratio of DIR-UN is 10.34, which is on the high side as it means it would take DIR-UN, 10.34 years of fcf income to pay off all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 10.34, DIR-UN is in the better half of the industry, outperforming 69.70% of the companies in the same industry.
  • DIR-UN has a Debt/Equity ratio of 0.56. This is a neutral value indicating DIR-UN is somewhat dependend on debt financing.
  • DIR-UN's Debt to Equity ratio of 0.56 is amongst the best of the industry. DIR-UN outperforms 96.97% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.56
Debt/FCF 10.34
Altman-Z 0.99
ROIC/WACCN/A
WACCN/A
DIR-UN.CA Yearly LT Debt VS Equity VS FCFDIR-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 1B 2B 3B 4B

2.3 Liquidity

  • A Current Ratio of 1.17 indicates that DIR-UN should not have too much problems paying its short term obligations.
  • DIR-UN has a better Current ratio (1.17) than 93.94% of its industry peers.
  • A Quick Ratio of 1.17 indicates that DIR-UN should not have too much problems paying its short term obligations.
  • With an excellent Quick ratio value of 1.17, DIR-UN belongs to the best of the industry, outperforming 93.94% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.17
Quick Ratio 1.17
DIR-UN.CA Yearly Current Assets VS Current LiabilitesDIR-UN.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M 1B

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

5

3. DIR-UN.CA Growth Analysis

3.1 Past

  • DIR-UN shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -35.28%.
  • DIR-UN shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -13.25% yearly.
  • The Revenue has grown by 8.16% in the past year. This is quite good.
  • DIR-UN shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 16.41% yearly.
EPS 1Y (TTM)-35.28%
EPS 3Y-39.45%
EPS 5Y-13.25%
EPS Q2Q%-72.79%
Revenue 1Y (TTM)8.16%
Revenue growth 3Y10.91%
Revenue growth 5Y16.41%
Sales Q2Q%10.17%

3.2 Future

  • DIR-UN is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 23.57% yearly.
  • DIR-UN is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 7.64% yearly.
EPS Next Y45.95%
EPS Next 2Y23.57%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year8.54%
Revenue Next 2Y7.64%
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 accelerating.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
DIR-UN.CA Yearly Revenue VS EstimatesDIR-UN.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 100M 200M 300M 400M 500M
DIR-UN.CA Yearly EPS VS EstimatesDIR-UN.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2017 2019 2020 2021 2022 2023 2024 2025 2026 2027 0.5 1 1.5 2 2.5

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5

4. DIR-UN.CA Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 21.29 indicates a rather expensive valuation of DIR-UN.
  • 60.61% of the companies in the same industry are more expensive than DIR-UN, based on the Price/Earnings ratio.
  • DIR-UN is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 25.50, which is the current average of the S&P500 Index.
  • DIR-UN is valuated reasonably with a Price/Forward Earnings ratio of 11.32.
  • DIR-UN's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. DIR-UN is cheaper than 78.79% of the companies in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 22.67, DIR-UN is valued rather cheaply.
Industry RankSector Rank
PE 21.29
Fwd PE 11.32
DIR-UN.CA Price Earnings VS Forward Price EarningsDIR-UN.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • DIR-UN's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 11.62
EV/EBITDA N/A
DIR-UN.CA Per share dataDIR-UN.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

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.
  • The decent profitability rating of DIR-UN may justify a higher PE ratio.
  • A more expensive valuation may be justified as DIR-UN's earnings are expected to grow with 23.57% in the coming years.
PEG (NY)0.46
PEG (5Y)N/A
EPS Next 2Y23.57%
EPS Next 3YN/A

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5

5. DIR-UN.CA Dividend Analysis

5.1 Amount

  • DIR-UN has a Yearly Dividend Yield of 5.00%, which is a nice return.
  • DIR-UN's Dividend Yield is slightly below the industry average, which is at 6.22.
  • DIR-UN's Dividend Yield is rather good when compared to the S&P500 average which is at 1.89.
Industry RankSector Rank
Dividend Yield 5%

5.2 History

  • The dividend of DIR-UN decreases each year by -3.67%.
  • DIR-UN has paid a dividend for at least 10 years, which is a reliable track record.
  • DIR-UN has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)-3.67%
Div Incr Years1
Div Non Decr Years12
DIR-UN.CA Yearly Dividends per shareDIR-UN.CA Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.2 0.4 0.6

5.3 Sustainability

  • 84.91% of the earnings are spent on dividend by DIR-UN. This is not a sustainable payout ratio.
DP84.91%
EPS Next 2Y23.57%
EPS Next 3YN/A
DIR-UN.CA Yearly Income VS Free CF VS DividendDIR-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 0 200M 400M 600M
DIR-UN.CA Dividend Payout.DIR-UN.CA Dividend Payout, showing the Payout Ratio.DIR-UN.CA Dividend Payout.PayoutRetained Earnings

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

DREAM INDUSTRIAL REAL ESTATE

TSX:DIR-UN (3/24/2026, 7:00:00 PM)

12.35

-0.12 (-0.96%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)02-17
Earnings (Next)05-04
Inst Owners30.87%
Inst Owner ChangeN/A
Ins Owners0.18%
Ins Owner ChangeN/A
Market Cap3.51B
Revenue(TTM)504.26M
Net Income(TTM)170.07M
Analysts81.43
Price Target15.25 (23.48%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5%
Yearly Dividend0.49
Dividend Growth(5Y)-3.67%
DP84.91%
Div Incr Years1
Div Non Decr Years12
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)2.22%
PT rev (3m)5.28%
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)-0.32%
Revenue NY rev (3m)-0.32%
Valuation
Industry RankSector Rank
PE 21.29
Fwd PE 11.32
P/S 6.96
P/FCF 11.62
P/OCF 11.62
P/B 0.73
P/tB 0.73
EV/EBITDA N/A
EPS(TTM)0.58
EY4.7%
EPS(NY)1.09
Fwd EY8.83%
FCF(TTM)1.06
FCFY8.61%
OCF(TTM)1.06
OCFY8.61%
SpS1.78
BVpS16.87
TBVpS16.87
PEG (NY)0.46
PEG (5Y)N/A
Graham Number14.84
Profitability
Industry RankSector Rank
ROA 2.01%
ROE 3.55%
ROCE 4.29%
ROIC 3.09%
ROICexc 3.11%
ROICexgc 3.11%
OM 65.14%
PM (TTM) 33.73%
GM 76.35%
FCFM 59.88%
ROA(3y)2.18%
ROA(5y)5.26%
ROE(3y)3.77%
ROE(5y)8.91%
ROIC(3y)3.02%
ROIC(5y)2.74%
ROICexc(3y)3.05%
ROICexc(5y)2.77%
ROICexgc(3y)3.05%
ROICexgc(5y)2.77%
ROCE(3y)4.2%
ROCE(5y)3.81%
ROICexgc growth 3Y7.61%
ROICexgc growth 5Y-0.14%
ROICexc growth 3Y7.61%
ROICexc growth 5Y-0.14%
OM growth 3Y0.6%
OM growth 5Y2.77%
PM growth 3Y-43.9%
PM growth 5Y-16.84%
GM growth 3Y0.07%
GM growth 5Y1.55%
F-Score7
Asset Turnover0.06
Health
Industry RankSector Rank
Debt/Equity 0.56
Debt/FCF 10.34
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 4.33
Cash Conversion N/A
Profit Quality 177.54%
Current Ratio 1.17
Quick Ratio 1.17
Altman-Z 0.99
F-Score7
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)193.8%
Profit Quality(5y)128.19%
High Growth Momentum
Growth
EPS 1Y (TTM)-35.28%
EPS 3Y-39.45%
EPS 5Y-13.25%
EPS Q2Q%-72.79%
EPS Next Y45.95%
EPS Next 2Y23.57%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)8.16%
Revenue growth 3Y10.91%
Revenue growth 5Y16.41%
Sales Q2Q%10.17%
Revenue Next Year8.54%
Revenue Next 2Y7.64%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y7.07%
EBIT growth 3Y11.58%
EBIT growth 5Y19.64%
EBIT Next Year18.47%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y2.1%
FCF growth 3Y11.4%
FCF growth 5Y17.52%
OCF growth 1Y2.1%
OCF growth 3Y11.4%
OCF growth 5Y17.45%

DREAM INDUSTRIAL REAL ESTATE / DIR-UN.CA Fundamental Analysis FAQ

What is the ChartMill fundamental rating of DREAM INDUSTRIAL REAL ESTATE (DIR-UN.CA) stock?

ChartMill assigns a fundamental rating of 6 / 10 to DIR-UN.CA.


What is the valuation status of DREAM INDUSTRIAL REAL ESTATE (DIR-UN.CA) stock?

ChartMill assigns a valuation rating of 5 / 10 to DREAM INDUSTRIAL REAL ESTATE (DIR-UN.CA). This can be considered as Fairly Valued.


How profitable is DREAM INDUSTRIAL REAL ESTATE (DIR-UN.CA) stock?

DREAM INDUSTRIAL REAL ESTATE (DIR-UN.CA) has a profitability rating of 7 / 10.


What is the valuation of DREAM INDUSTRIAL REAL ESTATE based on its PE and PB ratios?

The Price/Earnings (PE) ratio for DREAM INDUSTRIAL REAL ESTATE (DIR-UN.CA) is 21.29 and the Price/Book (PB) ratio is 0.73.


What is the financial health of DREAM INDUSTRIAL REAL ESTATE (DIR-UN.CA) stock?

The financial health rating of DREAM INDUSTRIAL REAL ESTATE (DIR-UN.CA) is 5 / 10.