GRANITE REAL ESTATE INVESTME (GRT-UN.CA) Stock Fundamental Analysis
Canada - Toronto Stock Exchange - TSX:GRT-UN - CA3874372053 - REIT
80.79 CAD
-0.52 (-0.64%)
We assign a fundamental rating of 6 out of 10 to GRT-UN. GRT-UN was compared to 38 industry peers in the Diversified REITs industry. While GRT-UN has a great profitability rating, there are some minor concerns on its financial health. GRT-UN is not valued too expensively and it also shows a decent growth rate.
1. Profitability
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.
Each year in the past 5 years GRT-UN had a positive operating cash flow.
1.2 Ratios
GRT-UN has a better Return On Assets (3.02%) than 84.21% of its industry peers.
GRT-UN has a Return On Equity of 5.28%. This is in the better half of the industry: GRT-UN outperforms 65.79% of its industry peers.
GRT-UN has a Return On Invested Capital (3.52%) which is comparable to the rest of the industry.
GRT-UN had an Average Return On Invested Capital over the past 3 years of 3.16%. This is below the industry average of 5.49%.
The last Return On Invested Capital (3.52%) for GRT-UN is above the 3 year average (3.16%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.02% | ||
| ROE | 5.28% | ||
| ROIC | 3.52% |
ROA(3y)2.31%
ROA(5y)5.72%
ROE(3y)3.91%
ROE(5y)9.46%
ROIC(3y)3.16%
ROIC(5y)2.98%
1.3 Margins
The Profit Margin of GRT-UN (48.08%) is better than 92.11% of its industry peers.
GRT-UN's Profit Margin has declined in the last couple of years.
Looking at the Operating Margin, with a value of 75.49%, GRT-UN belongs to the top of the industry, outperforming 97.37% of the companies in the same industry.
GRT-UN's Operating Margin has been stable in the last couple of years.
With an excellent Gross Margin value of 82.21%, GRT-UN belongs to the best of the industry, outperforming 94.74% of the companies in the same industry.
GRT-UN's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 75.49% | ||
| PM (TTM) | 48.08% | ||
| GM | 82.21% |
OM growth 3Y0.91%
OM growth 5Y0.32%
PM growth 3Y-42.48%
PM growth 5Y-14.61%
GM growth 3Y-0.64%
GM growth 5Y-0.97%
2. Health
2.1 Basic Checks
GRT-UN has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for GRT-UN has been reduced compared to 1 year ago.
The number of shares outstanding for GRT-UN has been increased compared to 5 years ago.
Compared to 1 year ago, GRT-UN has an improved debt to assets ratio.
2.2 Solvency
GRT-UN has an Altman-Z score of 1.23. This is a bad value and indicates that GRT-UN is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 1.23, GRT-UN belongs to the top of the industry, outperforming 86.84% of the companies in the same industry.
The Debt to FCF ratio of GRT-UN is 8.52, which is on the high side as it means it would take GRT-UN, 8.52 years of fcf income to pay off all of its debts.
GRT-UN has a better Debt to FCF ratio (8.52) than 94.74% of its industry peers.
A Debt/Equity ratio of 0.56 indicates that GRT-UN is somewhat dependend on debt financing.
GRT-UN has a better Debt to Equity ratio (0.56) than 89.47% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.56 | ||
| Debt/FCF | 8.52 | ||
| Altman-Z | 1.23 |
ROIC/WACC0.64
WACC5.5%
2.3 Liquidity
A Current Ratio of 1.82 indicates that GRT-UN should not have too much problems paying its short term obligations.
With an excellent Current ratio value of 1.82, GRT-UN belongs to the best of the industry, outperforming 92.11% of the companies in the same industry.
A Quick Ratio of 1.82 indicates that GRT-UN should not have too much problems paying its short term obligations.
GRT-UN has a better Quick ratio (1.82) than 92.11% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.82 | ||
| Quick Ratio | 1.82 |
3. Growth
3.1 Past
GRT-UN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 9.59%, which is quite good.
GRT-UN shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -6.06% yearly.
Looking at the last year, GRT-UN shows a quite strong growth in Revenue. The Revenue has grown by 9.81% in the last year.
Measured over the past years, GRT-UN shows a quite strong growth in Revenue. The Revenue has been growing by 15.77% on average per year.
EPS 1Y (TTM)9.59%
EPS 3Y-34.68%
EPS 5Y-6.06%
EPS Q2Q%10.34%
Revenue 1Y (TTM)9.81%
Revenue growth 3Y13.09%
Revenue growth 5Y15.77%
Sales Q2Q%8.04%
3.2 Future
GRT-UN is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 6.59% yearly.
Based on estimates for the next years, GRT-UN will show a small growth in Revenue. The Revenue will grow by 5.62% on average per year.
EPS Next Y-11.01%
EPS Next 2Y7.53%
EPS Next 3Y6.59%
EPS Next 5YN/A
Revenue Next Year8.37%
Revenue Next 2Y6.36%
Revenue Next 3Y5.62%
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. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 13.95, the valuation of GRT-UN can be described as correct.
GRT-UN's Price/Earnings ratio is a bit cheaper when compared to the industry. GRT-UN is cheaper than 73.68% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 26.59, GRT-UN is valued a bit cheaper.
Based on the Price/Forward Earnings ratio of 12.62, the valuation of GRT-UN can be described as correct.
71.05% of the companies in the same industry are more expensive than GRT-UN, based on the Price/Forward Earnings ratio.
GRT-UN is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 24.03, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.95 | ||
| Fwd PE | 12.62 |
4.2 Price Multiples
73.68% of the companies in the same industry are more expensive than GRT-UN, based on the Enterprise Value to EBITDA ratio.
GRT-UN's Price/Free Cash Flow ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 13.03 | ||
| EV/EBITDA | 17.34 |
4.3 Compensation for Growth
The decent profitability rating of GRT-UN may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y7.53%
EPS Next 3Y6.59%
5. Dividend
5.1 Amount
GRT-UN has a Yearly Dividend Yield of 3.94%. Purely for dividend investing, there may be better candidates out there.
With a Dividend Yield of 3.94, GRT-UN pays less dividend than the industry average, which is at 7.11. 86.84% of the companies listed in the same industry pay a better dividend than GRT-UN!
Compared to an average S&P500 Dividend Yield of 1.88, GRT-UN pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.94% |
5.2 History
The dividend of GRT-UN has a limited annual growth rate of 1.78%.
GRT-UN has paid a dividend for at least 10 years, which is 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)1.78%
Div Incr Years14
Div Non Decr Years14
5.3 Sustainability
GRT-UN pays out 71.73% of its income as dividend. This is not a sustainable payout ratio.
GRT-UN's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP71.73%
EPS Next 2Y7.53%
EPS Next 3Y6.59%
TSX:GRT-UN (12/24/2025, 7:00:00 PM)
80.79
-0.52 (-0.64%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners74.59%
Inst Owner ChangeN/A
Ins Owners0.68%
Ins Owner ChangeN/A
Market Cap4.90B
Revenue(TTM)604.98M
Net Income(TTM)290.86M
Analysts83.08
Price Target90.27 (11.73%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.94% |
Yearly Dividend3.3
Dividend Growth(5Y)1.78%
DP71.73%
Div Incr Years14
Div Non Decr Years14
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)1.4%
PT rev (3m)1.98%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-6.51%
EPS NY rev (3m)-6.51%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.45%
Revenue NY rev (3m)0.42%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.95 | ||
| Fwd PE | 12.62 | ||
| P/S | 8.09 | ||
| P/FCF | 13.03 | ||
| P/OCF | 13.03 | ||
| P/B | 0.89 | ||
| P/tB | 0.89 | ||
| EV/EBITDA | 17.34 |
EPS(TTM)5.79
EY7.17%
EPS(NY)6.4
Fwd EY7.93%
FCF(TTM)6.2
FCFY7.67%
OCF(TTM)6.2
OCFY7.68%
SpS9.98
BVpS90.88
TBVpS90.88
PEG (NY)N/A
PEG (5Y)N/A
Graham Number108.81
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.02% | ||
| ROE | 5.28% | ||
| ROCE | 4.89% | ||
| ROIC | 3.52% | ||
| ROICexc | 3.57% | ||
| ROICexgc | 3.57% | ||
| OM | 75.49% | ||
| PM (TTM) | 48.08% | ||
| GM | 82.21% | ||
| FCFM | 62.09% |
ROA(3y)2.31%
ROA(5y)5.72%
ROE(3y)3.91%
ROE(5y)9.46%
ROIC(3y)3.16%
ROIC(5y)2.98%
ROICexc(3y)3.2%
ROICexc(5y)3.12%
ROICexgc(3y)3.2%
ROICexgc(5y)3.12%
ROCE(3y)4.38%
ROCE(5y)4.14%
ROICexgc growth 3Y8.35%
ROICexgc growth 5Y-0.02%
ROICexc growth 3Y8.35%
ROICexc growth 5Y-0.02%
OM growth 3Y0.91%
OM growth 5Y0.32%
PM growth 3Y-42.48%
PM growth 5Y-14.61%
GM growth 3Y-0.64%
GM growth 5Y-0.97%
F-Score6
Asset Turnover0.06
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.56 | ||
| Debt/FCF | 8.52 | ||
| Debt/EBITDA | 6.77 | ||
| Cap/Depr | 7.49% | ||
| Cap/Sales | 0.02% | ||
| Interest Coverage | 5.84 | ||
| Cash Conversion | 82.05% | ||
| Profit Quality | 129.14% | ||
| Current Ratio | 1.82 | ||
| Quick Ratio | 1.82 | ||
| Altman-Z | 1.23 |
F-Score6
WACC5.5%
ROIC/WACC0.64
Cap/Depr(3y)27.37%
Cap/Depr(5y)53.98%
Cap/Sales(3y)0.08%
Cap/Sales(5y)0.18%
Profit Quality(3y)166.81%
Profit Quality(5y)115.37%
High Growth Momentum
Growth
EPS 1Y (TTM)9.59%
EPS 3Y-34.68%
EPS 5Y-6.06%
EPS Q2Q%10.34%
EPS Next Y-11.01%
EPS Next 2Y7.53%
EPS Next 3Y6.59%
EPS Next 5YN/A
Revenue 1Y (TTM)9.81%
Revenue growth 3Y13.09%
Revenue growth 5Y15.77%
Sales Q2Q%8.04%
Revenue Next Year8.37%
Revenue Next 2Y6.36%
Revenue Next 3Y5.62%
Revenue Next 5YN/A
EBIT growth 1Y8.36%
EBIT growth 3Y14.12%
EBIT growth 5Y16.14%
EBIT Next Year7.81%
EBIT Next 3Y6.47%
EBIT Next 5YN/A
FCF growth 1Y24.21%
FCF growth 3Y8.95%
FCF growth 5Y13.06%
OCF growth 1Y24.16%
OCF growth 3Y8.88%
OCF growth 5Y13.05%
GRANITE REAL ESTATE INVESTME / GRT-UN.CA FAQ
Can you provide the ChartMill fundamental rating for GRANITE REAL ESTATE INVESTME?
ChartMill assigns a fundamental rating of 6 / 10 to GRT-UN.CA.
What is the valuation status of GRANITE REAL ESTATE INVESTME (GRT-UN.CA) stock?
ChartMill assigns a valuation rating of 4 / 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 valuation of GRANITE REAL ESTATE INVESTME based on its PE and PB ratios?
The Price/Earnings (PE) ratio for GRANITE REAL ESTATE INVESTME (GRT-UN.CA) is 13.95 and the Price/Book (PB) ratio is 0.89.
Can you provide the expected EPS growth for GRT-UN stock?
The Earnings per Share (EPS) of GRANITE REAL ESTATE INVESTME (GRT-UN.CA) is expected to decline by -11.01% in the next year.