ALLIED PROPERTIES REAL ESTAT (AP-UN.CA) Stock Fundamental Analysis
TSX:AP-UN - CA0194561027 - REIT
19.38 CAD
+0.42 (+2.22%)
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. Both the profitability and financial health of AP-UN have multiple concerns. AP-UN has a decent growth rate and is not valued too expensively.
1. Profitability
1.1 Basic Checks
In the past year AP-UN has reported negative net income.
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
AP-UN has a Return On Assets of -5.32%. This is in the lower half of the industry: AP-UN underperforms 75.68% of its industry peers.
With a Return On Equity value of -10.57%, AP-UN is not doing good in the industry: 75.68% of the companies in the same industry are doing better.
The Return On Invested Capital of AP-UN (2.27%) is worse than 81.08% 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 5.04%.
The last Return On Invested Capital (2.27%) for AP-UN is above the 3 year average (2.01%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -5.32% | ||
| ROE | -10.57% | ||
| ROIC | 2.27% |
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 (47.34%) which is comparable to the rest of the industry.
In the last couple of years the Operating Margin of AP-UN has remained more or less at the same level.
The Gross Margin of AP-UN (56.51%) is comparable to the rest of the 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 | 47.34% | ||
| PM (TTM) | N/A | ||
| GM | 56.51% |
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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so AP-UN is destroying value.
AP-UN has about the same amout of shares outstanding than it did 1 year ago.
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
AP-UN has an Altman-Z score of 0.45. This is a bad value and indicates that AP-UN is not financially healthy and even has some risk of bankruptcy.
AP-UN's Altman-Z score of 0.45 is in line compared to the rest of the industry. AP-UN outperforms 45.95% of its industry peers.
AP-UN has a debt to FCF ratio of 26.91. This is a negative value and a sign of low solvency as AP-UN would need 26.91 years to pay back of all of its debts.
AP-UN's Debt to FCF ratio of 26.91 is on the low side compared to the rest of the industry. AP-UN is outperformed by 70.27% of its industry peers.
AP-UN has a Debt/Equity ratio of 0.70. This is a neutral value indicating AP-UN is somewhat dependend on debt financing.
AP-UN has a better Debt to Equity ratio (0.70) than 83.78% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.7 | ||
| Debt/FCF | 26.91 | ||
| Altman-Z | 0.45 |
ROIC/WACC0.38
WACC5.98%
2.3 Liquidity
AP-UN has a Current Ratio of 0.47. 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 Current ratio, with a value of 0.47, AP-UN is in the better half of the industry, outperforming 72.97% of the companies in the same industry.
A Quick Ratio of 0.44 indicates that AP-UN may have some problems paying its short term obligations.
With a decent Quick ratio value of 0.44, AP-UN is doing good in the industry, outperforming 70.27% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.47 | ||
| Quick Ratio | 0.44 |
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 -5.85%.
The Revenue has been growing slightly by 3.06% in the past year.
Measured over the past years, AP-UN shows a small growth in Revenue. The Revenue has been growing by 1.80% on average per year.
EPS 1Y (TTM)-5.85%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-437.55%
Revenue 1Y (TTM)3.06%
Revenue growth 3Y7.78%
Revenue growth 5Y1.8%
Sales Q2Q%-1.16%
3.2 Future
AP-UN is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 132.85% yearly.
The Revenue is expected to grow by 9.28% on average over the next years. This is quite good.
EPS Next Y431.25%
EPS Next 2Y250.89%
EPS Next 3Y132.85%
EPS Next 5YN/A
Revenue Next Year2.72%
Revenue Next 2Y5.39%
Revenue Next 3Y9.28%
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
AP-UN reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
AP-UN is valuated reasonably with a Price/Forward Earnings ratio of 11.40.
Compared to the rest of the industry, the Price/Forward Earnings ratio of AP-UN indicates a somewhat cheap valuation: AP-UN is cheaper than 78.38% of the companies listed in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.69, AP-UN is valued a bit cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 11.4 |
4.2 Price Multiples
62.16% of the companies in the same industry are more expensive than AP-UN, based on the Enterprise Value to EBITDA ratio.
AP-UN's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 15.93 | ||
| EV/EBITDA | 25.38 |
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 132.85% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y250.89%
EPS Next 3Y132.85%
5. Dividend
5.1 Amount
AP-UN has a Yearly Dividend Yield of 7.91%, which is a nice return.
AP-UN's Dividend Yield is comparable with the industry average which is at 7.95.
Compared to an average S&P500 Dividend Yield of 2.32, AP-UN pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.91% |
5.2 History
On average, the dividend of AP-UN grows each year by 9.51%, which is quite nice.
AP-UN has been paying a dividend for at least 10 years, so it has 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.
The dividend of AP-UN is growing, but earnings are growing more, so the dividend growth is sustainable.
DP-41.56%
EPS Next 2Y250.89%
EPS Next 3Y132.85%
TSX:AP-UN (9/5/2025, 7:00:00 PM)
19.38
+0.42 (+2.22%)
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 Cap2.71B
Analysts76.47
Price Target18.59 (-4.08%)
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-41.56%
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)5.3%
PT rev (3m)4.96%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-69.71%
EPS NY rev (3m)-69.71%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.85%
Revenue NY rev (3m)-1.84%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 11.4 | ||
| P/S | 4.53 | ||
| P/FCF | 15.93 | ||
| P/OCF | 15.84 | ||
| P/B | 0.52 | ||
| P/tB | 0.52 | ||
| EV/EBITDA | 25.38 |
EPS(TTM)-3.97
EYN/A
EPS(NY)1.7
Fwd EY8.77%
FCF(TTM)1.22
FCFY6.28%
OCF(TTM)1.22
OCFY6.31%
SpS4.27
BVpS37.52
TBVpS37.52
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -5.32% | ||
| ROE | -10.57% | ||
| ROCE | 3.16% | ||
| ROIC | 2.27% | ||
| ROICexc | 2.28% | ||
| ROICexgc | 2.28% | ||
| OM | 47.34% | ||
| PM (TTM) | N/A | ||
| GM | 56.51% | ||
| FCFM | 28.46% |
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 | 0.7 | ||
| Debt/FCF | 26.91 | ||
| Debt/EBITDA | 12.86 | ||
| Cap/Depr | 63.6% | ||
| Cap/Sales | 0.16% | ||
| Interest Coverage | 1.6 | ||
| Cash Conversion | 60.15% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.47 | ||
| Quick Ratio | 0.44 | ||
| Altman-Z | 0.45 |
F-Score4
WACC5.98%
ROIC/WACC0.38
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)-5.85%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-437.55%
EPS Next Y431.25%
EPS Next 2Y250.89%
EPS Next 3Y132.85%
EPS Next 5YN/A
Revenue 1Y (TTM)3.06%
Revenue growth 3Y7.78%
Revenue growth 5Y1.8%
Sales Q2Q%-1.16%
Revenue Next Year2.72%
Revenue Next 2Y5.39%
Revenue Next 3Y9.28%
Revenue Next 5YN/A
EBIT growth 1Y5.78%
EBIT growth 3Y5.36%
EBIT growth 5Y1.6%
EBIT Next Year27.43%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-46.64%
FCF growth 3Y-15.19%
FCF growth 5Y-9.67%
OCF growth 1Y-46.54%
OCF growth 3Y-15.05%
OCF growth 5Y-9.58%