GRANITE REAL ESTATE INVESTME (GRT-UN.CA) Stock Fundamental Analysis
Canada - TSX:GRT-UN - CA3874372053 - REIT
77.47 CAD
-0.5 (-0.64%)
Taking everything into account, GRT-UN scores 6 out of 10 in our fundamental rating. GRT-UN was compared to 38 industry peers in the Diversified REITs industry. GRT-UN gets an excellent profitability rating and is at the same time showing great financial health properties. GRT-UN is not valued too expensively and it also shows a decent growth rate. With these ratings, GRT-UN could be worth investigating further for quality investing!.
1. Profitability
1.1 Basic Checks
GRT-UN had positive earnings in the past year.
In the past year GRT-UN had a positive cash flow from operations.
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 has a better Return On Assets (3.53%) than 94.74% of its industry peers.
GRT-UN's Return On Equity of 6.20% is amongst the best of the industry. GRT-UN outperforms 84.21% of its industry peers.
GRT-UN's Return On Invested Capital of 3.48% is on the low side compared to the rest of the industry. GRT-UN is outperformed by 63.16% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for GRT-UN is below the industry average of 5.46%.
The 3 year average ROIC (3.16%) for GRT-UN is below the current ROIC(3.48%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.53% | ||
| ROE | 6.2% | ||
| ROIC | 3.48% |
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 (56.27%) is better than 97.37% 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 75.92%, GRT-UN belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
In the last couple of years the Operating Margin of GRT-UN has remained more or less at the same level.
GRT-UN has a Gross Margin of 82.47%. This is amongst the best in the industry. GRT-UN outperforms 94.74% of its industry peers.
In the last couple of years the Gross Margin of GRT-UN has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 75.92% | ||
| PM (TTM) | 56.27% | ||
| GM | 82.47% |
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.
Compared to 5 years ago, GRT-UN has more shares outstanding
GRT-UN has a better debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 1.21, we must say that GRT-UN is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of GRT-UN (1.21) is better than 86.84% of its industry peers.
The Debt to FCF ratio of GRT-UN is 8.93, which is on the high side as it means it would take GRT-UN, 8.93 years of fcf income to pay off all of its debts.
GRT-UN's Debt to FCF ratio of 8.93 is amongst the best of the industry. GRT-UN outperforms 94.74% of its industry peers.
A Debt/Equity ratio of 0.60 indicates that GRT-UN is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.60, GRT-UN belongs to the top of the industry, outperforming 89.47% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.6 | ||
| Debt/FCF | 8.93 | ||
| Altman-Z | 1.21 |
ROIC/WACC0.64
WACC5.47%
2.3 Liquidity
GRT-UN has a Current Ratio of 2.81. This indicates that GRT-UN is financially healthy and has no problem in meeting its short term obligations.
GRT-UN has a Current ratio of 2.81. This is amongst the best in the industry. GRT-UN outperforms 100.00% of its industry peers.
A Quick Ratio of 2.81 indicates that GRT-UN has no problem at all paying its short term obligations.
GRT-UN has a better Quick ratio (2.81) than 100.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.81 | ||
| Quick Ratio | 2.81 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 9.59% over the past year.
Measured over the past years, GRT-UN shows a decrease in Earnings Per Share. The EPS has been decreasing by -6.06% on average per year.
The Revenue has grown by 9.19% in the past year. This is quite good.
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)9.19%
Revenue growth 3Y13.09%
Revenue growth 5Y15.77%
Sales Q2Q%8.04%
3.2 Future
Based on estimates for the next years, GRT-UN will show a small growth in Earnings Per Share. The EPS will grow by 6.48% on average per year.
The Revenue is expected to grow by 6.06% on average over the next years.
EPS Next Y-4.81%
EPS Next 2Y7.36%
EPS Next 3Y6.48%
EPS Next 5YN/A
Revenue Next Year7.88%
Revenue Next 2Y5.79%
Revenue Next 3Y6.06%
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.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 13.38 indicates a correct valuation of GRT-UN.
Based on the Price/Earnings ratio, GRT-UN is valued cheaper than 81.58% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 26.06. GRT-UN is valued slightly cheaper when compared to this.
With a Price/Forward Earnings ratio of 12.14, GRT-UN is valued correctly.
Based on the Price/Forward Earnings ratio, GRT-UN is valued a bit cheaper than the industry average as 73.68% of the companies are valued more expensively.
Compared to an average S&P500 Price/Forward Earnings ratio of 32.73, GRT-UN is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.38 | ||
| Fwd PE | 12.14 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, GRT-UN is valued cheaply inside the industry as 81.58% of the companies are valued more expensively.
GRT-UN's Price/Free Cash Flow ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 13.05 | ||
| EV/EBITDA | 17.29 |
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 2Y7.36%
EPS Next 3Y6.48%
5. Dividend
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 7.95. 86.84% 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 2.37.
| 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 its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)1.78%
Div Incr Years14
Div Non Decr Years14
5.3 Sustainability
62.44% of the earnings are spent on dividend by GRT-UN. This is not a sustainable payout ratio.
GRT-UN's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP62.44%
EPS Next 2Y7.36%
EPS Next 3Y6.48%
TSX:GRT-UN (11/7/2025, 7:00:00 PM)
77.47
-0.5 (-0.64%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners73.65%
Inst Owner ChangeN/A
Ins Owners0.67%
Ins Owner ChangeN/A
Market Cap4.69B
Revenue(TTM)569.14M
Net Income(TTM)334.19M
Analysts83.08
Price Target89.02 (14.91%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.94% |
Yearly Dividend3.3
Dividend Growth(5Y)1.78%
DP62.44%
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)0.58%
PT rev (3m)5.44%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-9.37%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.12%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.38 | ||
| Fwd PE | 12.14 | ||
| P/S | 7.9 | ||
| P/FCF | 13.05 | ||
| P/OCF | 13.05 | ||
| P/B | 0.87 | ||
| P/tB | 0.87 | ||
| EV/EBITDA | 17.29 |
EPS(TTM)5.79
EY7.47%
EPS(NY)6.38
Fwd EY8.24%
FCF(TTM)5.93
FCFY7.66%
OCF(TTM)5.94
OCFY7.66%
SpS9.8
BVpS89
TBVpS89
PEG (NY)N/A
PEG (5Y)N/A
Graham Number107.68
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.53% | ||
| ROE | 6.2% | ||
| ROCE | 4.84% | ||
| ROIC | 3.48% | ||
| ROICexc | 3.52% | ||
| ROICexgc | 3.52% | ||
| OM | 75.92% | ||
| PM (TTM) | 56.27% | ||
| GM | 82.47% | ||
| FCFM | 60.55% |
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-Score7
Asset Turnover0.06
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.6 | ||
| Debt/FCF | 8.93 | ||
| Debt/EBITDA | 7.1 | ||
| Cap/Depr | 6.27% | ||
| Cap/Sales | 0.01% | ||
| Interest Coverage | 5.33 | ||
| Cash Conversion | 79.54% | ||
| Profit Quality | 107.59% | ||
| Current Ratio | 2.81 | ||
| Quick Ratio | 2.81 | ||
| Altman-Z | 1.21 |
F-Score7
WACC5.47%
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-4.81%
EPS Next 2Y7.36%
EPS Next 3Y6.48%
EPS Next 5YN/A
Revenue 1Y (TTM)9.19%
Revenue growth 3Y13.09%
Revenue growth 5Y15.77%
Sales Q2Q%8.04%
Revenue Next Year7.88%
Revenue Next 2Y5.79%
Revenue Next 3Y6.06%
Revenue Next 5YN/A
EBIT growth 1Y8.62%
EBIT growth 3Y14.12%
EBIT growth 5Y16.14%
EBIT Next Year7.97%
EBIT Next 3Y6.37%
EBIT Next 5YN/A
FCF growth 1Y21.72%
FCF growth 3Y8.95%
FCF growth 5Y13.06%
OCF growth 1Y21.62%
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 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 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 13.38 and the Price/Book (PB) ratio is 0.87.
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 -4.81% in the next year.