GRANITE REAL ESTATE INVESTME (GRT-UN.CA) Fundamental Analysis & Valuation
TSX:GRT-UN • CA3874372053
Current stock price
81.98 CAD
+0.72 (+0.89%)
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
- GRT-UN had positive earnings in the past year.
- In the past year GRT-UN had a positive cash flow from operations.
- GRT-UN had positive earnings in each of the past 5 years.
- Each year in the past 5 years GRT-UN had a positive operating cash flow.
1.2 Ratios
- With an excellent Return On Assets value of 3.52%, GRT-UN belongs to the best of the industry, outperforming 87.88% of the companies in the same industry.
- Looking at the Return On Equity, with a value of 6.21%, GRT-UN is in the better half of the industry, outperforming 75.76% of the companies in the same industry.
- The Return On Invested Capital of GRT-UN (3.64%) is worse than 66.67% 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 5.81%.
- The 3 year average ROIC (3.40%) for GRT-UN is below the current ROIC(3.64%), indicating increased profibility in the last year.
| 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 has a better Profit Margin (55.33%) than 96.97% 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 74.74%, GRT-UN belongs to the top of the industry, outperforming 96.97% 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.
- With an excellent Gross Margin value of 82.34%, GRT-UN belongs to the best of the industry, outperforming 93.94% of the companies in the same industry.
- 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 | 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
- 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 less shares outstanding
- GRT-UN has a worse debt/assets ratio than last year.
2.2 Solvency
- Based on the Altman-Z score of 1.15, we must say that GRT-UN is in the distress zone and has some risk of bankruptcy.
- With an excellent Altman-Z score value of 1.15, GRT-UN belongs to the best of the industry, outperforming 84.85% of the companies in the same industry.
- 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 96.97% of its industry peers.
- GRT-UN has a Debt/Equity ratio of 0.53. This is a neutral value indicating GRT-UN is somewhat dependend on debt financing.
- GRT-UN has a Debt to Equity ratio of 0.53. This is amongst the best in the industry. GRT-UN outperforms 100.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.53 | ||
| Debt/FCF | 8.54 | ||
| Altman-Z | 1.15 |
ROIC/WACC0.65
WACC5.64%
2.3 Liquidity
- A Current Ratio of 0.41 indicates that GRT-UN may have some problems paying its short term obligations.
- GRT-UN's Current ratio of 0.41 is fine compared to the rest of the industry. GRT-UN outperforms 75.76% of its industry peers.
- 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 78.79% 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
- GRT-UN shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -2.01%.
- The Earnings Per Share has been decreasing by -5.04% on average over the past years.
- The Revenue has grown by 8.71% in the past year. This is quite good.
- 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
- GRT-UN is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 16.65% yearly.
- 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.
- The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. GRT-UN.CA Valuation Analysis
4.1 Price/Earnings Ratio
- A Price/Earnings ratio of 14.64 indicates a correct valuation of GRT-UN.
- Based on the Price/Earnings ratio, GRT-UN is valued a bit cheaper than 72.73% of the companies in the same industry.
- The average S&P500 Price/Earnings ratio is at 24.88. GRT-UN is valued slightly cheaper when compared to this.
- A Price/Forward Earnings ratio of 12.80 indicates a correct valuation of GRT-UN.
- 63.64% of the companies in the same industry are more expensive than GRT-UN, based on the Price/Forward Earnings ratio.
- Compared to an average S&P500 Price/Forward Earnings ratio of 22.19, GRT-UN is valued a bit cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.64 | ||
| Fwd PE | 12.8 |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, GRT-UN is valued a bit cheaper than the industry average as 75.76% of the companies are valued more expensively.
- Based on the Price/Free Cash Flow ratio, GRT-UN is valued a bit more expensive than the industry average as 60.61% of the companies are valued more cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 12.8 | ||
| EV/EBITDA | 17.3 |
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.
- The decent profitability rating of GRT-UN 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)0.49
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.
- GRT-UN's Dividend Yield is slightly below the industry average, which is at 6.22.
- GRT-UN's Dividend Yield is rather good when compared to the S&P500 average which is at 1.90.
| 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 its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)3.68%
Div Incr Years14
Div Non Decr Years14
5.3 Sustainability
- 60.80% 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.
DP60.8%
EPS Next 2Y16.65%
EPS Next 3YN/A
GRT-UN.CA Fundamentals: All Metrics, Ratios and Statistics
TSX:GRT-UN (3/27/2026, 7:00:00 PM)
81.98
+0.72 (+0.89%)
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 Cap4.97B
Revenue(TTM)618.70M
Net Income(TTM)342.34M
Analysts81.54
Price Target92.42 (12.73%)
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 | 14.64 | ||
| Fwd PE | 12.8 | ||
| P/S | 8.03 | ||
| P/FCF | 12.8 | ||
| P/OCF | 12.8 | ||
| P/B | 0.9 | ||
| P/tB | 0.9 | ||
| EV/EBITDA | 17.3 |
EPS(TTM)5.6
EY6.83%
EPS(NY)6.4
Fwd EY7.81%
FCF(TTM)6.4
FCFY7.81%
OCF(TTM)6.41
OCFY7.81%
SpS10.21
BVpS90.92
TBVpS90.92
PEG (NY)0.49
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 | 1.15 |
F-Score6
WACC5.64%
ROIC/WACC0.65
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%.