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 38 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
In the past year AP-UN has reported negative net income.
AP-UN had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: AP-UN reported negative net income in multiple years.
Each year in the past 5 years AP-UN had a positive operating cash flow.
1.2 Ratios
AP-UN has a Return On Assets of -4.12%. This is in the lower half of the industry: AP-UN underperforms 65.79% of its industry peers.
AP-UN's Return On Equity of -7.99% is on the low side compared to the rest of the industry. AP-UN is outperformed by 65.79% of its industry peers.
AP-UN has a Return On Invested Capital of 2.39%. This is amonst the worse of the industry: AP-UN underperforms 89.47% of its industry peers.
The Average Return On Invested Capital over the past 3 years for AP-UN is below the industry average of 5.66%.
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's Operating Margin of 47.37% is in line compared to the rest of the industry. AP-UN outperforms 44.74% of its industry peers.
AP-UN's Operating Margin has been stable in the last couple of years.
AP-UN has a Gross Margin of 56.94%. This is comparable to the rest of the industry: AP-UN outperforms 42.11% of its industry peers.
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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so AP-UN is destroying value.
The number of shares outstanding for AP-UN remains at a similar level compared to 1 year ago.
The number of shares outstanding for AP-UN has been increased compared to 5 years ago.
The debt/assets ratio for AP-UN is higher compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 0.41, we must say that AP-UN is in the distress zone and has some risk of bankruptcy.
With a Altman-Z score value of 0.41, AP-UN is not doing good in the industry: 63.16% of the companies in the same industry are doing better.
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 Debt to FCF ratio of 31.59. This is in the lower half of the industry: AP-UN underperforms 65.79% 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 84.21% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.58 | ||
| Debt/FCF | 31.59 | ||
| Altman-Z | 0.41 |
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 has a better Current ratio (0.36) than 65.79% 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.
AP-UN has a better Quick ratio (0.36) than 68.42% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.36 | ||
| Quick Ratio | 0.36 |
3. Growth
3.1 Past
The earnings per share for AP-UN have decreased by -0.65% in the last year.
AP-UN shows a small growth in Revenue. In the last year, the Revenue has grown by 5.28%.
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)-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 11.44% yearly.
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
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.
The Price/Forward Earnings ratio is 9.75, which indicates a very decent valuation of AP-UN.
AP-UN's Price/Forward Earnings ratio is rather cheap when compared to the industry. AP-UN is cheaper than 89.47% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 35.19, AP-UN is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 9.75 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of AP-UN is on the same level as its industry peers.
Based on the Price/Free Cash Flow ratio, AP-UN is valued a bit more expensive than the industry average as 68.42% of the companies are valued more cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 17.9 | ||
| EV/EBITDA | 24.57 |
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
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.
AP-UN's Dividend Yield is rather good when compared to the S&P500 average which is at 2.35.
| 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.
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 (7/11/2025, 7:00:00 PM)
18.18
+0.1 (+0.55%)
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 Cap2.54B
Analysts76.47
Price Target17.65 (-2.92%)
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)-0.32%
PT rev (3m)-6.93%
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 | 9.75 | ||
| P/S | 4.24 | ||
| P/FCF | 17.9 | ||
| P/OCF | 17.79 | ||
| P/B | 0.47 | ||
| P/tB | 0.47 | ||
| EV/EBITDA | 24.57 |
EPS(TTM)-3.09
EYN/A
EPS(NY)1.86
Fwd EY10.25%
FCF(TTM)1.02
FCFY5.59%
OCF(TTM)1.02
OCFY5.62%
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 | 0.41 |
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 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%