AX-PR-E Fundamental Analysis - ARTIS REAL ESTATE - AXUCN 7.198 PERP

Fundamental Rating

We assign a fundamental rating of 3 out of 10 to AX-PR-E. AX-PR-E was compared to 38 industry peers in the Diversified REITs industry. AX-PR-E scores quite bad on profitability, while its financial health is fine. Not spectacular, but in line with the averages. AX-PR-E does not seem to be growing, but still is valued expensively. AX-PR-E also has an excellent dividend rating.

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1. Profitability

1.1 Basic Checks

In the past year AX-PR-E has reported negative net income.

In the past year AX-PR-E had a positive cash flow from operations.

The reported net income has been mixed in the past 5 years: AX-PR-E reported negative net income in multiple years.

AX-PR-E had a positive operating cash flow in each of the past 5 years.

1.2 Ratios

AX-PR-E has a worse Return On Assets (-2.52%) than 68.42% of its industry peers.

AX-PR-E has a Return On Equity of -4.53%. This is comparable to the rest of the industry: AX-PR-E outperforms 42.11% of its industry peers.

With a Return On Invested Capital value of 1.88%, AX-PR-E is not doing good in the industry: 89.47% of the companies in the same industry are doing better.

AX-PR-E had an Average Return On Invested Capital over the past 3 years of 4.34%. This is in line with the industry average of 5.45%.

		Industry Rank	Sector Rank
ROA	-2.52%
ROE	-4.53%
ROIC	1.88%

ROA(3y)-3.95%

ROA(5y)-0.73%

ROE(3y)-8.29%

ROE(5y)-1.91%

ROIC(3y)4.34%

ROIC(5y)4.41%

1.3 Margins

AX-PR-E has a Operating Margin of 21.59%. This is amonst the worse of the industry: AX-PR-E underperforms 84.21% of its industry peers.

In the last couple of years the Operating Margin of AX-PR-E has declined.

AX-PR-E's Gross Margin of 52.10% is on the low side compared to the rest of the industry. AX-PR-E is outperformed by 65.79% of its industry peers.

In the last couple of years the Gross Margin of AX-PR-E has declined.

		Industry Rank	Sector Rank
OM	21.59%
PM (TTM)	N/A
GM	52.1%

OM growth 3Y-9.19%

OM growth 5Y-6.55%

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y-1.4%

GM growth 5Y-1.76%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), AX-PR-E is destroying value.

Compared to 1 year ago, AX-PR-E has less shares outstanding

The number of shares outstanding for AX-PR-E has been reduced compared to 5 years ago.

Compared to 1 year ago, AX-PR-E has an improved debt to assets ratio.

2.2 Solvency

AX-PR-E has an Altman-Z score of 0.72. This is a bad value and indicates that AX-PR-E is not financially healthy and even has some risk of bankruptcy.

AX-PR-E has a better Altman-Z score (0.72) than 68.42% of its industry peers.

AX-PR-E has a debt to FCF ratio of 13.54. This is a negative value and a sign of low solvency as AX-PR-E would need 13.54 years to pay back of all of its debts.

AX-PR-E has a better Debt to FCF ratio (13.54) than 71.05% of its industry peers.

AX-PR-E has a Debt/Equity ratio of 0.45. This is a healthy value indicating a solid balance between debt and equity.

AX-PR-E's Debt to Equity ratio of 0.45 is amongst the best of the industry. AX-PR-E outperforms 97.37% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	0.45
Debt/FCF	13.54
Altman-Z	0.72

ROIC/WACC0.29

WACC6.61%

2.3 Liquidity

AX-PR-E has a Current Ratio of 0.56. This is a bad value and indicates that AX-PR-E is not financially healthy enough and could expect problems in meeting its short term obligations.

With a decent Current ratio value of 0.56, AX-PR-E is doing good in the industry, outperforming 78.95% of the companies in the same industry.

AX-PR-E has a Quick Ratio of 0.56. This is a bad value and indicates that AX-PR-E is not financially healthy enough and could expect problems in meeting its short term obligations.

Looking at the Quick ratio, with a value of 0.56, AX-PR-E belongs to the top of the industry, outperforming 81.58% of the companies in the same industry.

		Industry Rank	Sector Rank
Current Ratio	0.56
Quick Ratio	0.56

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

AX-PR-E shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 71.00%, which is quite impressive.

AX-PR-E shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -21.40%.

The Revenue for AX-PR-E have been decreasing by -10.45% on average. This is quite bad

EPS 1Y (TTM)71%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%-1034.73%

Revenue 1Y (TTM)-21.4%

Revenue growth 3Y-10.54%

Revenue growth 5Y-10.45%

Sales Q2Q%-30.27%

3.2 Future

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.

No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.

EPS Next Y38.1%

EPS Next 2YN/A

EPS Next 3YN/A

EPS Next 5YN/A

Revenue Next Year-10.8%

Revenue Next 2YN/A

Revenue Next 3YN/A

Revenue Next 5YN/A

3.3 Evolution

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.

No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.

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4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for AX-PR-E. In the last year negative earnings were reported.

Also next year AX-PR-E is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	N/A

4.2 Price Multiples

AX-PR-E's Enterprise Value to EBITDA ratio is in line with the industry average.

Compared to the rest of the industry, the Price/Free Cash Flow ratio of AX-PR-E indicates a slightly more expensive valuation: AX-PR-E is more expensive than 63.16% of the companies listed in the same industry.

		Industry Rank	Sector Rank
P/FCF	24.65
EV/EBITDA	53.19

4.3 Compensation for Growth

PEG (NY)N/A

PEG (5Y)N/A

EPS Next 2YN/A

EPS Next 3YN/A

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5. Dividend

5.1 Amount

AX-PR-E has a Yearly Dividend Yield of 8.45%, which is a nice return.

AX-PR-E's Dividend Yield is a higher than the industry average which is at 7.95.

Compared to an average S&P500 Dividend Yield of 2.38, AX-PR-E pays a better dividend.

		Industry Rank	Sector Rank
Dividend Yield	8.45%

5.2 History

On average, the dividend of AX-PR-E grows each year by 8.07%, which is quite nice.

AX-PR-E has paid a dividend for at least 10 years, which is a reliable track record.

AX-PR-E has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.

Dividend Growth(5Y)8.07%

Div Incr Years2

Div Non Decr Years11

5.3 Sustainability

AX-PR-E has negative earnings and hence a negative payout ratio. The dividend may be in danger.

The dividend of AX-PR-E is growing, but earnings are growing more, so the dividend growth is sustainable.

DP-144.93%

EPS Next 2YN/A

EPS Next 3YN/A

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ARTIS REAL ESTATE - AXUCN 7.198 PERP

TSX:AX-PR-E (10/17/2025, 7:00:00 PM)

20.41

+0.03 (+0.15%)

Chartmill FA Rating

GICS SectorReal Estate

GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)

GICS IndustryDiversified REITs

Earnings (Last)08-07 2025-08-07

Earnings (Next)10-30 2025-10-30

Inst Owners19.47%

Inst Owner ChangeN/A

Ins Owners0.23%

Ins Owner ChangeN/A

Market Cap1.96B

Analysts40

Price Target25.44 (24.64%)

Short Float %N/A

Short RatioN/A

Dividend

		Industry Rank	Sector Rank
Dividend Yield	8.45%

Yearly Dividend1

Dividend Growth(5Y)8.07%

DP-144.93%

Div Incr Years2

Div Non Decr Years11

Ex-Date09-29 2025-09-29 (0.449875)

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)19.19%

PT rev (3m)23.11%

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%

Valuation

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	N/A
P/S	7.65
P/FCF	24.65
P/OCF	24.65
P/B	1.35
P/tB	1.35
EV/EBITDA	53.19

EPS(TTM)-0.65

EYN/A

EPS(NY)-0.13

Fwd EYN/A

FCF(TTM)0.83

FCFY4.06%

OCF(TTM)0.83

OCFY4.06%

SpS2.67

BVpS15.13

TBVpS15.13

PEG (NY)N/A

PEG (5Y)N/A

Profitability

		Industry Rank	Sector Rank
ROA	-2.52%
ROE	-4.53%
ROCE	2.62%
ROIC	1.88%
ROICexc	1.9%
ROICexgc	1.9%
OM	21.59%
PM (TTM)	N/A
GM	52.1%
FCFM	31.05%

ROA(3y)-3.95%

ROA(5y)-0.73%

ROE(3y)-8.29%

ROE(5y)-1.91%

ROIC(3y)4.34%

ROIC(5y)4.41%

ROICexc(3y)4.39%

ROICexc(5y)4.53%

ROICexgc(3y)4.39%

ROICexgc(5y)4.53%

ROCE(3y)6.02%

ROCE(5y)6.13%

ROICexcg growth 3Y-6.15%

ROICexcg growth 5Y-3.03%

ROICexc growth 3Y-6.15%

ROICexc growth 5Y-3.03%

OM growth 3Y-9.19%

OM growth 5Y-6.55%

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y-1.4%

GM growth 5Y-1.76%

F-Score5

Asset Turnover0.1

Health

		Industry Rank	Sector Rank
Debt/Equity	0.45
Debt/FCF	13.54
Debt/EBITDA	11.53
Cap/Depr	0%
Cap/Sales	0%
Interest Coverage	0.77
Cash Conversion	140.19%
Profit Quality	N/A
Current Ratio	0.56
Quick Ratio	0.56
Altman-Z	0.72

F-Score5

WACC6.61%

ROIC/WACC0.29

Cap/Depr(3y)22.34%

Cap/Depr(5y)13.48%

Cap/Sales(3y)0.09%

Cap/Sales(5y)0.05%

Profit Quality(3y)N/A

Profit Quality(5y)N/A

High Growth Momentum

Growth

EPS 1Y (TTM)71%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%-1034.73%

EPS Next Y38.1%

EPS Next 2YN/A

EPS Next 3YN/A

EPS Next 5YN/A

Revenue 1Y (TTM)-21.4%

Revenue growth 3Y-10.54%

Revenue growth 5Y-10.45%

Sales Q2Q%-30.27%

Revenue Next Year-10.8%

Revenue Next 2YN/A

Revenue Next 3YN/A

Revenue Next 5YN/A

EBIT growth 1Y-67.58%

EBIT growth 3Y-18.76%

EBIT growth 5Y-16.32%

EBIT Next Year73.49%

EBIT Next 3YN/A

EBIT Next 5YN/A

FCF growth 1Y-15.59%

FCF growth 3Y-26.68%

FCF growth 5Y-16.66%

OCF growth 1Y-15.93%

OCF growth 3Y-26.56%

OCF growth 5Y-16.72%

ARTIS REAL ESTATE - AXUCN 7.198 PERP (AX-PR-E.CA) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

More info and screens

5. Dividend

5.1 Amount

5.2 History

5.3 Sustainability

More info and screens