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ALTUS GROUP LTD (AIF.CA) Stock Fundamental Analysis

TSX:AIF - Toronto Stock Exchange - CA02215R1073 - Common Stock - Currency: CAD

59.6  +0.27 (+0.46%)

Fundamental Rating

5

AIF gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 31 industry peers in the Real Estate Management & Development industry. AIF is in great health and has no worries on liquidiy or solvency at all, but the profibility rating is only average. While showing a medium growth rate, AIF is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

In the past year AIF was profitable.
In the past year AIF had a positive cash flow from operations.
AIF had positive earnings in 4 of the past 5 years.
Each year in the past 5 years AIF had a positive operating cash flow.
AIF.CA Yearly Net Income VS EBIT VS OCF VS FCFAIF.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20M 40M 60M 80M 100M

1.2 Ratios

AIF has a Return On Assets (0.22%) which is comparable to the rest of the industry.
The Return On Equity of AIF (0.43%) is comparable to the rest of the industry.
The Return On Invested Capital of AIF (4.55%) is better than 73.33% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for AIF is below the industry average of 6.96%.
The 3 year average ROIC (4.25%) for AIF is below the current ROIC(4.55%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 0.22%
ROE 0.43%
ROIC 4.55%
ROA(3y)0.97%
ROA(5y)1.66%
ROE(3y)1.97%
ROE(5y)3.31%
ROIC(3y)4.25%
ROIC(5y)5.29%
AIF.CA Yearly ROA, ROE, ROICAIF.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10 20

1.3 Margins

AIF has a Profit Margin (0.36%) which is comparable to the rest of the industry.
AIF's Profit Margin has declined in the last couple of years.
With a Operating Margin value of 8.63%, AIF is not doing good in the industry: 70.00% of the companies in the same industry are doing better.
In the last couple of years the Operating Margin of AIF has grown nicely.
Industry RankSector Rank
OM 8.63%
PM (TTM) 0.36%
GM N/A
OM growth 3Y-4.17%
OM growth 5Y32.01%
PM growth 3Y-29.72%
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
AIF.CA Yearly Profit, Operating, Gross MarginsAIF.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 5 10 15 20

8

2. Health

2.1 Basic Checks

AIF 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 AIF has been increased compared to 1 year ago.
Compared to 5 years ago, AIF has more shares outstanding
The debt/assets ratio for AIF has been reduced compared to a year ago.
AIF.CA Yearly Shares OutstandingAIF.CA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M 40M
AIF.CA Yearly Total Debt VS Total AssetsAIF.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M 1B

2.2 Solvency

AIF has an Altman-Z score of 3.42. This indicates that AIF is financially healthy and has little risk of bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 3.42, AIF belongs to the top of the industry, outperforming 83.33% of the companies in the same industry.
The Debt to FCF ratio of AIF is 3.92, which is a good value as it means it would take AIF, 3.92 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 3.92, AIF belongs to the top of the industry, outperforming 90.00% of the companies in the same industry.
A Debt/Equity ratio of 0.54 indicates that AIF is somewhat dependend on debt financing.
AIF's Debt to Equity ratio of 0.54 is fine compared to the rest of the industry. AIF outperforms 66.67% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.54
Debt/FCF 3.92
Altman-Z 3.42
ROIC/WACC0.62
WACC7.38%
AIF.CA Yearly LT Debt VS Equity VS FCFAIF.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M

2.3 Liquidity

AIF has a Current Ratio of 2.09. This indicates that AIF is financially healthy and has no problem in meeting its short term obligations.
The Current ratio of AIF (2.09) is better than 86.67% of its industry peers.
AIF has a Quick Ratio of 2.09. This indicates that AIF is financially healthy and has no problem in meeting its short term obligations.
AIF's Quick ratio of 2.09 is amongst the best of the industry. AIF outperforms 86.67% of its industry peers.
Industry RankSector Rank
Current Ratio 2.09
Quick Ratio 2.09
AIF.CA Yearly Current Assets VS Current LiabilitesAIF.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 100M 200M 300M

4

3. Growth

3.1 Past

AIF shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -12.27%.
The Earnings Per Share has been growing by 9.46% on average over the past years. This is quite good.
AIF shows a decrease in Revenue. In the last year, the revenue decreased by -5.07%.
Measured over the past years, AIF shows a quite strong growth in Revenue. The Revenue has been growing by 8.65% on average per year.
EPS 1Y (TTM)-12.27%
EPS 3Y-0.2%
EPS 5Y9.46%
EPS Q2Q%-42.42%
Revenue 1Y (TTM)-5.07%
Revenue growth 3Y11.26%
Revenue growth 5Y8.65%
Sales Q2Q%-30.67%

3.2 Future

Based on estimates for the next years, AIF will show a quite strong growth in Earnings Per Share. The EPS will grow by 11.38% on average per year.
Based on estimates for the next years, AIF will show a decrease in Revenue. The Revenue will decrease by -7.62% on average per year.
EPS Next Y-18.85%
EPS Next 2Y-0.95%
EPS Next 3Y11.38%
EPS Next 5YN/A
Revenue Next Year-13.5%
Revenue Next 2Y-14.75%
Revenue Next 3Y-7.62%
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.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
AIF.CA Yearly Revenue VS EstimatesAIF.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 200M 400M 600M
AIF.CA Yearly EPS VS EstimatesAIF.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5 2

2

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 41.68, the valuation of AIF can be described as expensive.
The rest of the industry has a similar Price/Earnings ratio as AIF.
When comparing the Price/Earnings ratio of AIF to the average of the S&P500 Index (28.12), we can say AIF is valued slightly more expensively.
With a Price/Forward Earnings ratio of 36.82, AIF can be considered very expensive at the moment.
AIF's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. AIF is cheaper than 66.67% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 94.77, AIF is valued rather cheaply.
Industry RankSector Rank
PE 41.68
Fwd PE 36.82
AIF.CA Price Earnings VS Forward Price EarningsAIF.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

AIF's Enterprise Value to EBITDA ratio is in line with the industry average.
AIF's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 31.28
EV/EBITDA 26.01
AIF.CA Per share dataAIF.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)4.41
EPS Next 2Y-0.95%
EPS Next 3Y11.38%

5

5. Dividend

5.1 Amount

AIF has a Yearly Dividend Yield of 1.01%. Purely for dividend investing, there may be better candidates out there.
AIF's Dividend Yield is comparable with the industry average which is at 3.17.
Compared to an average S&P500 Dividend Yield of 2.29, AIF's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 1.01%

5.2 History

The dividend of AIF has a limited annual growth rate of 3.91%.
AIF has paid a dividend for at least 10 years, which is a reliable track record.
AIF has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)3.91%
Div Incr Years1
Div Non Decr Years12
AIF.CA Yearly Dividends per shareAIF.CA Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0.2 0.4 0.6

5.3 Sustainability

AIF pays out 950.87% of its income as dividend. This is not a sustainable payout ratio.
The dividend of AIF is growing, but earnings are growing more, so the dividend growth is sustainable.
DP950.87%
EPS Next 2Y-0.95%
EPS Next 3Y11.38%
AIF.CA Yearly Income VS Free CF VS DividendAIF.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20M 40M 60M 80M 100M
AIF.CA Dividend Payout.AIF.CA Dividend Payout, showing the Payout Ratio.AIF.CA Dividend Payout.PayoutRetained Earnings

ALTUS GROUP LTD

TSX:AIF (2/7/2025, 7:00:00 PM)

59.6

+0.27 (+0.46%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryReal Estate Management & Development
Earnings (Last)11-07 2024-11-07/amc
Earnings (Next)02-20 2025-02-20/amc
Inst Owners58.72%
Inst Owner ChangeN/A
Ins Owners4.07%
Ins Owner ChangeN/A
Market Cap2.75B
Analysts70
Price Target61.33 (2.9%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.01%
Yearly Dividend0.59
Dividend Growth(5Y)3.91%
DP950.87%
Div Incr Years1
Div Non Decr Years12
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-21.12%
Min EPS beat(2)-26.71%
Max EPS beat(2)-15.54%
EPS beat(4)1
Avg EPS beat(4)-13.33%
Min EPS beat(4)-26.71%
Max EPS beat(4)3.51%
EPS beat(8)2
Avg EPS beat(8)-12.02%
EPS beat(12)4
Avg EPS beat(12)-6.12%
EPS beat(16)8
Avg EPS beat(16)-2.12%
Revenue beat(2)1
Avg Revenue beat(2)-0.76%
Min Revenue beat(2)-3.03%
Max Revenue beat(2)1.5%
Revenue beat(4)1
Avg Revenue beat(4)-1.01%
Min Revenue beat(4)-3.03%
Max Revenue beat(4)1.5%
Revenue beat(8)3
Avg Revenue beat(8)-0.88%
Revenue beat(12)5
Avg Revenue beat(12)-0.72%
Revenue beat(16)7
Avg Revenue beat(16)-0.47%
PT rev (1m)1.05%
PT rev (3m)7.13%
EPS NQ rev (1m)0.47%
EPS NQ rev (3m)-45.06%
EPS NY rev (1m)0.11%
EPS NY rev (3m)-9.99%
Revenue NQ rev (1m)-0.29%
Revenue NQ rev (3m)-35.25%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.05%
Valuation
Industry RankSector Rank
PE 41.68
Fwd PE 36.82
P/S 3.79
P/FCF 31.28
P/OCF 27.56
P/B 4.46
P/tB 2423.35
EV/EBITDA 26.01
EPS(TTM)1.43
EY2.4%
EPS(NY)1.62
Fwd EY2.72%
FCF(TTM)1.91
FCFY3.2%
OCF(TTM)2.16
OCFY3.63%
SpS15.72
BVpS13.35
TBVpS0.02
PEG (NY)N/A
PEG (5Y)4.41
Profitability
Industry RankSector Rank
ROA 0.22%
ROE 0.43%
ROCE 6.32%
ROIC 4.55%
ROICexc 4.74%
ROICexgc 13.44%
OM 8.63%
PM (TTM) 0.36%
GM N/A
FCFM 12.12%
ROA(3y)0.97%
ROA(5y)1.66%
ROE(3y)1.97%
ROE(5y)3.31%
ROIC(3y)4.25%
ROIC(5y)5.29%
ROICexc(3y)4.47%
ROICexc(5y)5.82%
ROICexgc(3y)24.06%
ROICexgc(5y)34.89%
ROCE(3y)5.9%
ROCE(5y)7.35%
ROICexcg growth 3Y6.56%
ROICexcg growth 5Y29.14%
ROICexc growth 3Y-13.34%
ROICexc growth 5Y25.23%
OM growth 3Y-4.17%
OM growth 5Y32.01%
PM growth 3Y-29.72%
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score8
Asset Turnover0.6
Health
Industry RankSector Rank
Debt/Equity 0.54
Debt/FCF 3.92
Debt/EBITDA 2.83
Cap/Depr 21.87%
Cap/Sales 1.64%
Interest Coverage 3.11
Cash Conversion 85.33%
Profit Quality 3326.04%
Current Ratio 2.09
Quick Ratio 2.09
Altman-Z 3.42
F-Score8
WACC7.38%
ROIC/WACC0.62
Cap/Depr(3y)28.5%
Cap/Depr(5y)21.5%
Cap/Sales(3y)2.21%
Cap/Sales(5y)1.71%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-12.27%
EPS 3Y-0.2%
EPS 5Y9.46%
EPS Q2Q%-42.42%
EPS Next Y-18.85%
EPS Next 2Y-0.95%
EPS Next 3Y11.38%
EPS Next 5YN/A
Revenue 1Y (TTM)-5.07%
Revenue growth 3Y11.26%
Revenue growth 5Y8.65%
Sales Q2Q%-30.67%
Revenue Next Year-13.5%
Revenue Next 2Y-14.75%
Revenue Next 3Y-7.62%
Revenue Next 5YN/A
EBIT growth 1Y-8.61%
EBIT growth 3Y6.62%
EBIT growth 5Y43.43%
EBIT Next Year33.02%
EBIT Next 3Y19.78%
EBIT Next 5YN/A
FCF growth 1Y119.19%
FCF growth 3Y-4.63%
FCF growth 5Y9.69%
OCF growth 1Y65.42%
OCF growth 3Y-0.4%
OCF growth 5Y7.61%