ALLIED PROPERTIES REAL ESTAT (AP-UN.CA) Stock Fundamental Analysis
TSX:AP-UN - Toronto Stock Exchange - CA0194561027 - REIT - Currency: CAD
We assign a fundamental rating of 3 out of 10 to AP-UN. AP-UN was compared to 37 industry peers in the Diversified REITs industry. AP-UN has a bad profitability rating. Also its financial health evaluation is rather negative. AP-UN has a decent growth rate and is not valued too expensively.
1. Profitability
1.1 Basic Checks
AP-UN had negative earnings in the past year.
In the past year AP-UN had a positive cash flow from operations.
In multiple years AP-UN reported negative net income over the last 5 years.
In the past 5 years AP-UN always reported a positive cash flow from operatings.
1.2 Ratios
Looking at the Return On Assets, with a value of -4.12%, AP-UN is doing worse than 64.86% of the companies in the same industry.
With a Return On Equity value of -7.99%, AP-UN is not doing good in the industry: 64.86% of the companies in the same industry are doing better.
With a Return On Invested Capital value of 2.39%, AP-UN is not doing good in the industry: 89.19% of the companies in the same industry are doing better.
AP-UN had an Average Return On Invested Capital over the past 3 years of 2.01%. This is below the industry average of 5.69%.
The 3 year average ROIC (2.01%) for AP-UN is below the current ROIC(2.39%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -4.12% | ||
| ROE | -7.99% | ||
| ROIC | 2.39% |
ROA(3y)-1.38%
ROA(5y)1.09%
ROE(3y)-2.5%
ROE(5y)1.5%
ROIC(3y)2.01%
ROIC(5y)2.01%
1.3 Margins
AP-UN has a Operating Margin (47.37%) which is in line with its industry peers.
AP-UN's Operating Margin has been stable in the last couple of years.
With a Gross Margin value of 56.94%, AP-UN perfoms like the industry average, outperforming 43.24% of the companies in the same industry.
AP-UN's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 47.37% | ||
| PM (TTM) | N/A | ||
| GM | 56.94% |
OM growth 3Y-2.25%
OM growth 5Y-0.19%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.43%
GM growth 5Y1.21%
2. Health
2.1 Basic Checks
AP-UN has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
Compared to 1 year ago, AP-UN has about the same amount of shares outstanding.
Compared to 5 years ago, AP-UN has more shares outstanding
AP-UN has a worse debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 0.37, we must say that AP-UN is in the distress zone and has some risk of bankruptcy.
AP-UN has a Altman-Z score of 0.37. This is comparable to the rest of the industry: AP-UN outperforms 43.24% of its industry peers.
The Debt to FCF ratio of AP-UN is 31.59, which is on the high side as it means it would take AP-UN, 31.59 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of AP-UN (31.59) is worse than 64.86% of its industry peers.
AP-UN has a Debt/Equity ratio of 0.58. This is a neutral value indicating AP-UN is somewhat dependend on debt financing.
AP-UN has a Debt to Equity ratio of 0.58. This is amongst the best in the industry. AP-UN outperforms 83.78% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.58 | ||
| Debt/FCF | 31.59 | ||
| Altman-Z | 0.37 |
ROIC/WACC0.42
WACC5.64%
2.3 Liquidity
A Current Ratio of 0.36 indicates that AP-UN may have some problems paying its short term obligations.
AP-UN has a Current ratio of 0.36. This is in the better half of the industry: AP-UN outperforms 64.86% of its industry peers.
A Quick Ratio of 0.36 indicates that AP-UN may have some problems paying its short term obligations.
With a decent Quick ratio value of 0.36, AP-UN is doing good in the industry, outperforming 67.57% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.36 | ||
| Quick Ratio | 0.36 |
3. Growth
3.1 Past
AP-UN shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -0.65%.
AP-UN shows a small growth in Revenue. In the last year, the Revenue has grown by 5.28%.
The Revenue has been growing slightly by 1.80% on average over the past years.
EPS 1Y (TTM)-0.65%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-473.57%
Revenue 1Y (TTM)5.28%
Revenue growth 3Y7.78%
Revenue growth 5Y1.8%
Sales Q2Q%4.92%
3.2 Future
Based on estimates for the next years, AP-UN will show a very strong growth in Earnings Per Share. The EPS will grow by 264.86% on average per year.
The Revenue is expected to grow by 11.44% on average over the next years. This is quite good.
EPS Next Y1193.75%
EPS Next 2Y264.86%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year4.64%
Revenue Next 2Y11.44%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings Ratio is negative for AP-UN. In the last year negative earnings were reported.
Based on the Price/Forward Earnings ratio of 8.47, the valuation of AP-UN can be described as reasonable.
AP-UN's Price/Forward Earnings ratio is rather cheap when compared to the industry. AP-UN is cheaper than 91.89% of the companies in the same industry.
AP-UN's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 22.15.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 8.47 |
4.2 Price Multiples
AP-UN's Enterprise Value to EBITDA is on the same level as the industry average.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of AP-UN indicates a slightly more expensive valuation: AP-UN is more expensive than 64.86% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 15.55 | ||
| EV/EBITDA | 23.4 |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
AP-UN's earnings are expected to grow with 264.86% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y264.86%
EPS Next 3YN/A
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 7.91%, AP-UN is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 7.94, AP-UN has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.38, AP-UN pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.91% |
5.2 History
The dividend of AP-UN is nicely growing with an annual growth rate of 9.51%!
AP-UN has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)9.51%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
The earnings of AP-UN are negative and hence is the payout ratio. AP-UN will probably not be able to sustain this dividend level.
The dividend of AP-UN is growing, but earnings are growing more, so the dividend growth is sustainable.
DP-53.39%
EPS Next 2Y264.86%
EPS Next 3YN/A
TSX:AP-UN (5/30/2025, 7:00:00 PM)
15.79
-0.22 (-1.37%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners44.32%
Inst Owner ChangeN/A
Ins Owners1.32%
Ins Owner ChangeN/A
Market Cap2.21B
Analysts76.47
Price Target17.71 (12.16%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.91% |
Yearly Dividend2.28
Dividend Growth(5Y)9.51%
DP-53.39%
Div Incr Years0
Div Non Decr Years0
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)-5.45%
PT rev (3m)-6.63%
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)0%
Revenue NY rev (3m)-0.28%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 8.47 | ||
| P/S | 3.68 | ||
| P/FCF | 15.55 | ||
| P/OCF | 15.45 | ||
| P/B | 0.41 | ||
| P/tB | 0.41 | ||
| EV/EBITDA | 23.4 |
EPS(TTM)-3.09
EYN/A
EPS(NY)1.86
Fwd EY11.81%
FCF(TTM)1.02
FCFY6.43%
OCF(TTM)1.02
OCFY6.47%
SpS4.29
BVpS38.61
TBVpS38.61
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -4.12% | ||
| ROE | -7.99% | ||
| ROCE | 3.32% | ||
| ROIC | 2.39% | ||
| ROICexc | 2.39% | ||
| ROICexgc | 2.39% | ||
| OM | 47.37% | ||
| PM (TTM) | N/A | ||
| GM | 56.94% | ||
| FCFM | 23.69% |
ROA(3y)-1.38%
ROA(5y)1.09%
ROE(3y)-2.5%
ROE(5y)1.5%
ROIC(3y)2.01%
ROIC(5y)2.01%
ROICexc(3y)2.03%
ROICexc(5y)2.03%
ROICexgc(3y)2.03%
ROICexgc(5y)2.03%
ROCE(3y)2.79%
ROCE(5y)2.8%
ROICexcg growth 3Y9.34%
ROICexcg growth 5Y-1.13%
ROICexc growth 3Y9.34%
ROICexc growth 5Y-1.13%
OM growth 3Y-2.25%
OM growth 5Y-0.19%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.43%
GM growth 5Y1.21%
F-Score4
Asset Turnover0.06
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.58 | ||
| Debt/FCF | 31.59 | ||
| Debt/EBITDA | 10.9 | ||
| Cap/Depr | 55.84% | ||
| Cap/Sales | 0.14% | ||
| Interest Coverage | 1.54 | ||
| Cash Conversion | 50.05% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.36 | ||
| Quick Ratio | 0.36 | ||
| Altman-Z | 0.37 |
F-Score4
WACC5.64%
ROIC/WACC0.42
Cap/Depr(3y)83.2%
Cap/Depr(5y)66.36%
Cap/Sales(3y)0.22%
Cap/Sales(5y)0.17%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-0.65%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-473.57%
EPS Next Y1193.75%
EPS Next 2Y264.86%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)5.28%
Revenue growth 3Y7.78%
Revenue growth 5Y1.8%
Sales Q2Q%4.92%
Revenue Next Year4.64%
Revenue Next 2Y11.44%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y5.47%
EBIT growth 3Y5.36%
EBIT growth 5Y1.6%
EBIT Next Year27.43%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-52.72%
FCF growth 3Y-15.19%
FCF growth 5Y-9.67%
OCF growth 1Y-52.55%
OCF growth 3Y-15.05%
OCF growth 5Y-9.58%