GRANITE REAL ESTATE INVESTME (GRT-UN.CA) Fundamental Analysis & Valuation
TSX:GRT-UN • CA3874372053
Current stock price
80.1 CAD
-2.74 (-3.31%)
Last:
This GRT-UN.CA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
1. GRT-UN.CA Profitability Analysis
1.1 Basic Checks
- In the past year GRT-UN was profitable.
- GRT-UN had a positive operating cash flow in the past year.
- In the past 5 years GRT-UN has always been profitable.
- GRT-UN had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
- GRT-UN's Return On Assets of 3.52% is amongst the best of the industry. GRT-UN outperforms 91.43% of its industry peers.
- The Return On Equity of GRT-UN (6.21%) is better than 77.14% of its industry peers.
- Looking at the Return On Invested Capital, with a value of 3.64%, GRT-UN is doing worse than 62.86% of the companies in the same industry.
- Measured over the past 3 years, the Average Return On Invested Capital for GRT-UN is below the industry average of 5.56%.
- The last Return On Invested Capital (3.64%) for GRT-UN is above the 3 year average (3.40%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.52% | ||
| ROE | 6.21% | ||
| ROIC | 3.64% |
ROA(3y)2.92%
ROA(5y)5.15%
ROE(3y)5.03%
ROE(5y)8.51%
ROIC(3y)3.4%
ROIC(5y)3.12%
1.3 Margins
- GRT-UN's Profit Margin of 55.33% is amongst the best of the industry. GRT-UN outperforms 97.14% of its industry peers.
- GRT-UN's Profit Margin has declined in the last couple of years.
- GRT-UN has a better Operating Margin (74.74%) than 97.14% of its industry peers.
- GRT-UN's Operating Margin has been stable in the last couple of years.
- GRT-UN's Gross Margin of 82.34% is amongst the best of the industry. GRT-UN outperforms 94.29% of its industry peers.
- GRT-UN's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 74.74% | ||
| PM (TTM) | 55.33% | ||
| GM | 82.34% |
OM growth 3Y-0.85%
OM growth 5Y-0.42%
PM growth 3Y17.4%
PM growth 5Y-15.22%
GM growth 3Y-0.46%
GM growth 5Y-0.89%
2. GRT-UN.CA Health Analysis
2.1 Basic Checks
- The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so GRT-UN is destroying value.
- Compared to 1 year ago, GRT-UN has less shares outstanding
- GRT-UN has less shares outstanding than it did 5 years ago.
- The debt/assets ratio for GRT-UN is higher compared to a year ago.
2.2 Solvency
- Based on the Altman-Z score of 1.17, we must say that GRT-UN is in the distress zone and has some risk of bankruptcy.
- GRT-UN has a Altman-Z score of 1.17. This is amongst the best in the industry. GRT-UN outperforms 85.71% of its industry peers.
- The Debt to FCF ratio of GRT-UN is 8.54, which is on the high side as it means it would take GRT-UN, 8.54 years of fcf income to pay off all of its debts.
- GRT-UN has a Debt to FCF ratio of 8.54. This is amongst the best in the industry. GRT-UN outperforms 97.14% of its industry peers.
- A Debt/Equity ratio of 0.53 indicates that GRT-UN is somewhat dependend on debt financing.
- GRT-UN has a better Debt to Equity ratio (0.53) than 97.14% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.53 | ||
| Debt/FCF | 8.54 | ||
| Altman-Z | 1.17 |
ROIC/WACC0.64
WACC5.68%
2.3 Liquidity
- GRT-UN has a Current Ratio of 0.41. This is a bad value and indicates that GRT-UN is not financially healthy enough and could expect problems in meeting its short term obligations.
- Looking at the Current ratio, with a value of 0.41, GRT-UN is in the better half of the industry, outperforming 71.43% of the companies in the same industry.
- GRT-UN has a Quick Ratio of 0.41. This is a bad value and indicates that GRT-UN is not financially healthy enough and could expect problems in meeting its short term obligations.
- Looking at the Quick ratio, with a value of 0.41, GRT-UN is in the better half of the industry, outperforming 74.29% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.41 | ||
| Quick Ratio | 0.41 |
3. GRT-UN.CA Growth Analysis
3.1 Past
- The earnings per share for GRT-UN have decreased by -2.01% in the last year.
- Measured over the past years, GRT-UN shows a decrease in Earnings Per Share. The EPS has been decreasing by -5.04% on average per year.
- GRT-UN shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 8.71%.
- GRT-UN shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 12.71% yearly.
EPS 1Y (TTM)-2.01%
EPS 3Y32.63%
EPS 5Y-5.04%
EPS Q2Q%67.54%
Revenue 1Y (TTM)8.71%
Revenue growth 3Y10.74%
Revenue growth 5Y12.71%
Sales Q2Q%6.64%
3.2 Future
- Based on estimates for the next years, GRT-UN will show a quite strong growth in Earnings Per Share. The EPS will grow by 16.65% on average per year.
- GRT-UN is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.58% yearly.
EPS Next Y29.92%
EPS Next 2Y16.65%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year6.7%
Revenue Next 2Y5.58%
Revenue Next 3YN/A
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.
- 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.
4. GRT-UN.CA Valuation Analysis
4.1 Price/Earnings Ratio
- A Price/Earnings ratio of 14.30 indicates a correct valuation of GRT-UN.
- 71.43% of the companies in the same industry are more expensive than GRT-UN, based on the Price/Earnings ratio.
- Compared to an average S&P500 Price/Earnings ratio of 25.23, GRT-UN is valued a bit cheaper.
- Based on the Price/Forward Earnings ratio of 12.51, the valuation of GRT-UN can be described as correct.
- Based on the Price/Forward Earnings ratio, GRT-UN is valued a bit cheaper than the industry average as 62.86% of the companies are valued more expensively.
- GRT-UN is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 23.28, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.3 | ||
| Fwd PE | 12.51 |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, GRT-UN is valued a bit cheaper than the industry average as 74.29% of the companies are valued more expensively.
- Based on the Price/Free Cash Flow ratio, GRT-UN is valued a bit more expensive than 60.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 12.51 | ||
| EV/EBITDA | 17.5 |
4.3 Compensation for Growth
- GRT-UN's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
- GRT-UN has a very decent profitability rating, which may justify a higher PE ratio.
- GRT-UN's earnings are expected to grow with 16.65% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.48
PEG (5Y)N/A
EPS Next 2Y16.65%
EPS Next 3YN/A
5. GRT-UN.CA Dividend Analysis
5.1 Amount
- With a Yearly Dividend Yield of 3.94%, GRT-UN has a reasonable but not impressive dividend return.
- With a Dividend Yield of 3.94, GRT-UN pays less dividend than the industry average, which is at 7.24. 88.57% of the companies listed in the same industry pay a better dividend than GRT-UN!
- GRT-UN's Dividend Yield is rather good when compared to the S&P500 average which is at 1.91.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.94% |
5.2 History
- The dividend of GRT-UN has a limited annual growth rate of 3.68%.
- GRT-UN has been paying a dividend for at least 10 years, so it has a reliable track record.
- GRT-UN has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)3.68%
Div Incr Years14
Div Non Decr Years14
5.3 Sustainability
- GRT-UN pays out 60.80% of its income as dividend. This is not a sustainable payout ratio.
- The dividend of GRT-UN is growing, but earnings are growing more, so the dividend growth is sustainable.
DP60.8%
EPS Next 2Y16.65%
EPS Next 3YN/A
GRT-UN.CA Fundamentals: All Metrics, Ratios and Statistics
TSX:GRT-UN (3/20/2026, 7:00:00 PM)
80.1
-2.74 (-3.31%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)02-25 2026-02-25/amc
Earnings (Next)05-05 2026-05-05
Inst Owners73.49%
Inst Owner ChangeN/A
Ins Owners0.68%
Ins Owner ChangeN/A
Market Cap4.85B
Revenue(TTM)618.70M
Net Income(TTM)342.34M
Analysts81.54
Price Target92.42 (15.38%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.94% |
Yearly Dividend3.38
Dividend Growth(5Y)3.68%
DP60.8%
Div Incr Years14
Div Non Decr Years14
Ex-Date02-27 2026-02-27 (0.2958)
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)0.74%
PT rev (3m)2.39%
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)2.21%
Revenue NY rev (3m)2.21%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.3 | ||
| Fwd PE | 12.51 | ||
| P/S | 7.84 | ||
| P/FCF | 12.51 | ||
| P/OCF | 12.51 | ||
| P/B | 0.88 | ||
| P/tB | 0.88 | ||
| EV/EBITDA | 17.5 |
EPS(TTM)5.6
EY6.99%
EPS(NY)6.4
Fwd EY7.99%
FCF(TTM)6.4
FCFY7.99%
OCF(TTM)6.41
OCFY8%
SpS10.21
BVpS90.92
TBVpS90.92
PEG (NY)0.48
PEG (5Y)N/A
Graham Number107.03
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.52% | ||
| ROE | 6.21% | ||
| ROCE | 5.06% | ||
| ROIC | 3.64% | ||
| ROICexc | 3.7% | ||
| ROICexgc | 3.7% | ||
| OM | 74.74% | ||
| PM (TTM) | 55.33% | ||
| GM | 82.34% | ||
| FCFM | 62.71% |
ROA(3y)2.92%
ROA(5y)5.15%
ROE(3y)5.03%
ROE(5y)8.51%
ROIC(3y)3.4%
ROIC(5y)3.12%
ROICexc(3y)3.45%
ROICexc(5y)3.19%
ROICexgc(3y)3.45%
ROICexgc(5y)3.19%
ROCE(3y)4.72%
ROCE(5y)4.34%
ROICexgc growth 3Y7.82%
ROICexgc growth 5Y1.85%
ROICexc growth 3Y7.82%
ROICexc growth 5Y1.85%
OM growth 3Y-0.85%
OM growth 5Y-0.42%
PM growth 3Y17.4%
PM growth 5Y-15.22%
GM growth 3Y-0.46%
GM growth 5Y-0.89%
F-Score6
Asset Turnover0.06
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.53 | ||
| Debt/FCF | 8.54 | ||
| Debt/EBITDA | 6.32 | ||
| Cap/Depr | 9.8% | ||
| Cap/Sales | 0.02% | ||
| Interest Coverage | 4.94 | ||
| Cash Conversion | 83.71% | ||
| Profit Quality | 113.33% | ||
| Current Ratio | 0.41 | ||
| Quick Ratio | 0.41 | ||
| Altman-Z | 1.17 |
F-Score6
WACC5.68%
ROIC/WACC0.64
Cap/Depr(3y)13.97%
Cap/Depr(5y)27.61%
Cap/Sales(3y)0.03%
Cap/Sales(5y)0.08%
Profit Quality(3y)145.38%
Profit Quality(5y)126.75%
High Growth Momentum
Growth
EPS 1Y (TTM)-2.01%
EPS 3Y32.63%
EPS 5Y-5.04%
EPS Q2Q%67.54%
EPS Next Y29.92%
EPS Next 2Y16.65%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)8.71%
Revenue growth 3Y10.74%
Revenue growth 5Y12.71%
Sales Q2Q%6.64%
Revenue Next Year6.7%
Revenue Next 2Y5.58%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y6.25%
EBIT growth 3Y9.8%
EBIT growth 5Y12.23%
EBIT Next Year8.2%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y14.62%
FCF growth 3Y11.93%
FCF growth 5Y9.85%
OCF growth 1Y14.61%
OCF growth 3Y11.83%
OCF growth 5Y9.7%
GRANITE REAL ESTATE INVESTME / GRT-UN.CA Fundamental Analysis FAQ
What is the ChartMill fundamental rating of GRANITE REAL ESTATE INVESTME (GRT-UN.CA) stock?
ChartMill assigns a fundamental rating of 5 / 10 to GRT-UN.CA.
What is the valuation status for GRT-UN stock?
ChartMill assigns a valuation rating of 5 / 10 to GRANITE REAL ESTATE INVESTME (GRT-UN.CA). This can be considered as Fairly Valued.
How profitable is GRANITE REAL ESTATE INVESTME (GRT-UN.CA) stock?
GRANITE REAL ESTATE INVESTME (GRT-UN.CA) has a profitability rating of 7 / 10.
What is the earnings growth outlook for GRANITE REAL ESTATE INVESTME?
The Earnings per Share (EPS) of GRANITE REAL ESTATE INVESTME (GRT-UN.CA) is expected to grow by 29.92% in the next year.
Can you provide the dividend sustainability for GRT-UN stock?
The dividend rating of GRANITE REAL ESTATE INVESTME (GRT-UN.CA) is 6 / 10 and the dividend payout ratio is 60.8%.