ALLIED PROPERTIES REAL ESTAT (AP-UN.CA) Stock Fundamental Analysis
TSX:AP-UN - Toronto Stock Exchange - CA0194561027 - REIT - Currency: CAD
Overall AP-UN gets a fundamental rating of 3 out of 10. We evaluated AP-UN against 37 industry peers in the Diversified REITs industry. AP-UN may be in some trouble as it scores bad on both profitability and health. AP-UN has a correct valuation and a medium growth rate.
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.
The reported net income has been mixed in the past 5 years: AP-UN reported negative net income in multiple years.
In the past 5 years AP-UN always reported a positive cash flow from operatings.
1.2 Ratios
With a Return On Assets value of -4.12%, AP-UN is not doing good in the industry: 67.57% of the companies in the same industry are doing better.
AP-UN has a Return On Equity of -7.99%. This is in the lower half of the industry: AP-UN underperforms 67.57% of its industry peers.
AP-UN's Return On Invested Capital of 2.39% is on the low side compared to the rest of the industry. AP-UN is outperformed by 89.19% of its industry peers.
AP-UN had an Average Return On Invested Capital over the past 3 years of 2.01%. This is below the industry average of 5.79%.
The last Return On Invested Capital (2.39%) for AP-UN is above the 3 year average (2.01%), which is a sign of increasing profitability.
| 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.
In the last couple of years the Operating Margin of AP-UN has remained more or less at the same level.
With a Gross Margin value of 56.94%, AP-UN perfoms like the industry average, outperforming 40.54% of the companies in the same industry.
In the last couple of years the Gross Margin of AP-UN has remained more or less at the same level.
| 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
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), AP-UN is destroying value.
AP-UN has about the same amout of shares outstanding than it did 1 year ago.
AP-UN has more shares outstanding than it did 5 years ago.
The debt/assets ratio for AP-UN is higher compared to a year ago.
2.2 Solvency
AP-UN has an Altman-Z score of 0.40. This is a bad value and indicates that AP-UN is not financially healthy and even has some risk of bankruptcy.
AP-UN has a Altman-Z score (0.40) which is comparable to the rest of the industry.
AP-UN has a debt to FCF ratio of 31.59. This is a negative value and a sign of low solvency as AP-UN would need 31.59 years to pay back of all of its debts.
AP-UN has a worse Debt to FCF ratio (31.59) than 67.57% 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.
With an excellent Debt to Equity ratio value of 0.58, AP-UN belongs to the best of the industry, outperforming 83.78% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.58 | ||
| Debt/FCF | 31.59 | ||
| Altman-Z | 0.4 |
ROIC/WACC0.41
WACC5.84%
2.3 Liquidity
AP-UN has a Current Ratio of 0.36. This is a bad value and indicates that AP-UN is not financially healthy enough and could expect problems in meeting its short term obligations.
AP-UN's Current ratio of 0.36 is fine compared to the rest of the industry. AP-UN outperforms 67.57% of its industry peers.
AP-UN has a Quick Ratio of 0.36. This is a bad value and indicates that AP-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 0.36, AP-UN is in the better half of the industry, outperforming 70.27% 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%.
The Revenue has been growing slightly by 5.28% in the past year.
AP-UN shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 1.80% yearly.
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.
AP-UN is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 11.09% yearly.
EPS Next Y1193.75%
EPS Next 2Y264.86%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year3.61%
Revenue Next 2Y11.09%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings Ratio is negative for AP-UN. In the last year negative earnings were reported.
AP-UN is valuated reasonably with a Price/Forward Earnings ratio of 9.24.
Compared to the rest of the industry, the Price/Forward Earnings ratio of AP-UN indicates a rather cheap valuation: AP-UN is cheaper than 89.19% of the companies listed in the same industry.
When comparing the Price/Forward Earnings ratio of AP-UN to the average of the S&P500 Index (36.36), we can say AP-UN is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 9.24 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, AP-UN is valued a bit cheaper than the industry average as 62.16% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, AP-UN is valued a bit more expensive than 64.86% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 16.96 | ||
| EV/EBITDA | 24.1 |
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.
A more expensive valuation may be justified as AP-UN's earnings are expected to grow with 264.86% in the coming years.
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.
AP-UN's Dividend Yield is comparable with the industry average which is at 7.90.
AP-UN's Dividend Yield is rather good when compared to the S&P500 average which is at 2.40.
| 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
AP-UN has negative earnings and hence a negative payout ratio. The dividend may be in danger.
AP-UN's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP-53.39%
EPS Next 2Y264.86%
EPS Next 3YN/A
TSX:AP-UN (8/6/2025, 7:00:00 PM)
17.22
+0.17 (+1%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners44.16%
Inst Owner ChangeN/A
Ins Owners1.42%
Ins Owner ChangeN/A
Market Cap2.41B
Analysts76.47
Price Target17.65 (2.5%)
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)0%
PT rev (3m)-5.75%
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)-0.99%
Revenue NY rev (3m)-0.99%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 9.24 | ||
| P/S | 4.02 | ||
| P/FCF | 16.96 | ||
| P/OCF | 16.85 | ||
| P/B | 0.45 | ||
| P/tB | 0.45 | ||
| EV/EBITDA | 24.1 |
EPS(TTM)-3.09
EYN/A
EPS(NY)1.86
Fwd EY10.83%
FCF(TTM)1.02
FCFY5.9%
OCF(TTM)1.02
OCFY5.93%
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 | 0.4 |
F-Score4
WACC5.84%
ROIC/WACC0.41
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 Year3.61%
Revenue Next 2Y11.09%
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%