PRIMARIS REIT (PMZ-UN.CA) Stock Fundamental Analysis
TSX:PMZ-UN - Toronto Stock Exchange - CA74167K1093 - REIT - Currency: CAD
Taking everything into account, PMZ-UN scores 3 out of 10 in our fundamental rating. PMZ-UN was compared to 37 industry peers in the Diversified REITs industry. While PMZ-UN is still in line with the averages on profitability rating, there are concerns on its financial health. PMZ-UN is valued expensive and it does not seem to be growing.
1. Profitability
1.1 Basic Checks
PMZ-UN had positive earnings in the past year.
In the past year PMZ-UN had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: PMZ-UN reported negative net income in multiple years.
PMZ-UN had a positive operating cash flow in 4 of the past 5 years.
1.2 Ratios
PMZ-UN has a Return On Assets of 1.86%. This is in the better half of the industry: PMZ-UN outperforms 67.57% of its industry peers.
PMZ-UN's Return On Equity of 3.68% is fine compared to the rest of the industry. PMZ-UN outperforms 62.16% of its industry peers.
The Return On Invested Capital of PMZ-UN (4.15%) is comparable to the rest of the industry.
The Average Return On Invested Capital over the past 3 years for PMZ-UN is in line with the industry average of 4.57%.
The last Return On Invested Capital (4.15%) for PMZ-UN is above the 3 year average (4.04%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.86% | ||
| ROE | 3.68% | ||
| ROIC | 4.15% |
ROA(3y)1.37%
ROA(5y)-2.46%
ROE(3y)2.65%
ROE(5y)-6.77%
ROIC(3y)4.04%
ROIC(5y)4.06%
1.3 Margins
Looking at the Profit Margin, with a value of 15.83%, PMZ-UN is in the better half of the industry, outperforming 62.16% of the companies in the same industry.
In the last couple of years the Profit Margin of PMZ-UN has declined.
The Operating Margin of PMZ-UN (47.56%) is worse than 64.86% of its industry peers.
In the last couple of years the Operating Margin of PMZ-UN has declined.
PMZ-UN has a Gross Margin (57.65%) which is in line with its industry peers.
PMZ-UN's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 47.56% | ||
| PM (TTM) | 15.83% | ||
| GM | 57.65% |
OM growth 3Y-2.72%
OM growth 5YN/A
PM growth 3Y-51.36%
PM growth 5YN/A
GM growth 3Y0.31%
GM growth 5YN/A
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), PMZ-UN is destroying value.
Compared to 1 year ago, PMZ-UN has more shares outstanding
Compared to 1 year ago, PMZ-UN has a worse debt to assets ratio.
2.2 Solvency
The Debt to FCF ratio of PMZ-UN is 11.64, which is on the high side as it means it would take PMZ-UN, 11.64 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of PMZ-UN (11.64) is better than 78.38% of its industry peers.
A Debt/Equity ratio of 0.91 indicates that PMZ-UN is somewhat dependend on debt financing.
PMZ-UN has a better Debt to Equity ratio (0.91) than 64.86% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.91 | ||
| Debt/FCF | 11.64 | ||
| Altman-Z | N/A |
ROIC/WACC0.68
WACC6.06%
2.3 Liquidity
A Current Ratio of 0.12 indicates that PMZ-UN may have some problems paying its short term obligations.
The Current ratio of PMZ-UN (0.12) is worse than 67.57% of its industry peers.
A Quick Ratio of 0.12 indicates that PMZ-UN may have some problems paying its short term obligations.
PMZ-UN has a Quick ratio of 0.12. This is in the lower half of the industry: PMZ-UN underperforms 67.57% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.12 | ||
| Quick Ratio | 0.12 |
3. Growth
3.1 Past
PMZ-UN shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -29.67%.
Measured over the past years, PMZ-UN shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -39.76% on average per year.
PMZ-UN shows a strong growth in Revenue. In the last year, the Revenue has grown by 22.13%.
PMZ-UN shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 26.51% yearly.
EPS 1Y (TTM)-29.67%
EPS 3Y-39.76%
EPS 5YN/A
EPS Q2Q%45.29%
Revenue 1Y (TTM)22.13%
Revenue growth 3Y26.51%
Revenue growth 5YN/A
Sales Q2Q%25.79%
3.2 Future
No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 19.38, which indicates a rather expensive current valuation of PMZ-UN.
64.86% of the companies in the same industry are more expensive than PMZ-UN, based on the Price/Earnings ratio.
When comparing the Price/Earnings ratio of PMZ-UN to the average of the S&P500 Index (28.79), we can say PMZ-UN is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.38 | ||
| Fwd PE | N/A |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of PMZ-UN indicates a rather cheap valuation: PMZ-UN is cheaper than 81.08% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, PMZ-UN is valued a bit cheaper than 67.57% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 8.54 | ||
| EV/EBITDA | 14.05 |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2YN/A
EPS Next 3YN/A
5. Dividend
5.1 Amount
PMZ-UN has a Yearly Dividend Yield of 6.34%, which is a nice return.
PMZ-UN's Dividend Yield is slightly below the industry average, which is at 8.01.
PMZ-UN's Dividend Yield is rather good when compared to the S&P500 average which is at 2.47.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.34% |
5.2 History
PMZ-UN has paid a dividend for less than 5 years, so there is no long track record yet.
Dividend Growth(5Y)N/A
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
102.29% of the earnings are spent on dividend by PMZ-UN. This is not a sustainable payout ratio.
DP102.29%
EPS Next 2YN/A
EPS Next 3YN/A
TSX:PMZ-UN (4/25/2025, 7:00:00 PM)
14.15
-0.08 (-0.56%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners52.75%
Inst Owner ChangeN/A
Ins Owners0.66%
Ins Owner ChangeN/A
Market Cap1.44B
Analysts76.67
Price Target18.11 (27.99%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.34% |
Yearly Dividend0.83
Dividend Growth(5Y)N/A
DP102.29%
Div Incr Years1
Div Non Decr Years1
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)-3.4%
PT rev (3m)-3.73%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)N/A
EPS NY rev (3m)N/A
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)N/A
Revenue NY rev (3m)N/A
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.38 | ||
| Fwd PE | N/A | ||
| P/S | 2.86 | ||
| P/FCF | 8.54 | ||
| P/OCF | 8.54 | ||
| P/B | 0.67 | ||
| P/tB | 0.67 | ||
| EV/EBITDA | 14.05 |
EPS(TTM)0.73
EY5.16%
EPS(NY)N/A
Fwd EYN/A
FCF(TTM)1.66
FCFY11.71%
OCF(TTM)1.66
OCFY11.71%
SpS4.94
BVpS21.27
TBVpS21.27
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.86% | ||
| ROE | 3.68% | ||
| ROCE | 5.76% | ||
| ROIC | 4.15% | ||
| ROICexc | 4.16% | ||
| ROICexgc | 4.27% | ||
| OM | 47.56% | ||
| PM (TTM) | 15.83% | ||
| GM | 57.65% | ||
| FCFM | 33.54% |
ROA(3y)1.37%
ROA(5y)-2.46%
ROE(3y)2.65%
ROE(5y)-6.77%
ROIC(3y)4.04%
ROIC(5y)4.06%
ROICexc(3y)4.06%
ROICexc(5y)4.09%
ROICexgc(3y)4.1%
ROICexgc(5y)4.11%
ROCE(3y)5.61%
ROCE(5y)5.7%
ROICexcg growth 3Y13.07%
ROICexcg growth 5YN/A
ROICexc growth 3Y12.15%
ROICexc growth 5YN/A
OM growth 3Y-2.72%
OM growth 5YN/A
PM growth 3Y-51.36%
PM growth 5YN/A
GM growth 3Y0.31%
GM growth 5YN/A
F-Score6
Asset Turnover0.12
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.91 | ||
| Debt/FCF | 11.64 | ||
| Debt/EBITDA | 8.14 | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 2.63 | ||
| Cash Conversion | 69.91% | ||
| Profit Quality | 211.8% | ||
| Current Ratio | 0.12 | ||
| Quick Ratio | 0.12 | ||
| Altman-Z | N/A |
F-Score6
WACC6.06%
ROIC/WACC0.68
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-29.67%
EPS 3Y-39.76%
EPS 5YN/A
EPS Q2Q%45.29%
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)22.13%
Revenue growth 3Y26.51%
Revenue growth 5YN/A
Sales Q2Q%25.79%
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y21.75%
EBIT growth 3Y23.07%
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y0.98%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y0.98%
OCF growth 3YN/A
OCF growth 5YN/A