ARTIS REAL ESTATE INVESTMENT (AX-UN.CA) Stock Fundamental Analysis
Canada • Toronto Stock Exchange • TSX:AX-UN • CA04315L1058
9.39 CAD
+0.13 (+1.4%)
Last: Jan 29, 2026, 07:00 PM
AX-UN gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 38 industry peers in the Diversified REITs industry. AX-UN scores quite bad on profitability, while its financial health is fine. Not spectacular, but in line with the averages. AX-UN does not seem to be growing, but still is valued expensively.
1. Profitability
1.1 Basic Checks
- AX-UN had negative earnings in the past year.
- In the past year AX-UN had a positive cash flow from operations.
- The reported net income has been mixed in the past 5 years: AX-UN reported negative net income in multiple years.
- Each year in the past 5 years AX-UN had a positive operating cash flow.
1.2 Ratios
- The Return On Assets of AX-UN (-3.37%) is worse than 63.16% of its industry peers.
- Looking at the Return On Equity, with a value of -6.21%, AX-UN is doing worse than 60.53% of the companies in the same industry.
- AX-UN's Return On Invested Capital of 0.28% is on the low side compared to the rest of the industry. AX-UN is outperformed by 92.11% of its industry peers.
- The Average Return On Invested Capital over the past 3 years for AX-UN is in line with the industry average of 5.49%.
- The last Return On Invested Capital (0.28%) for AX-UN is well below the 3 year average (4.34%), which needs to be investigated, but indicates that AX-UN had better years and this may not be a problem.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -3.37% | ||
| ROE | -6.21% | ||
| ROIC | 0.28% |
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
- Looking at the Operating Margin, with a value of 3.20%, AX-UN is doing worse than 92.11% of the companies in the same industry.
- In the last couple of years the Operating Margin of AX-UN has declined.
- AX-UN's Gross Margin of 51.93% is on the low side compared to the rest of the industry. AX-UN is outperformed by 65.79% of its industry peers.
- In the last couple of years the Gross Margin of AX-UN has declined.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 3.2% | ||
| PM (TTM) | N/A | ||
| GM | 51.93% |
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%
2. Health
2.1 Basic Checks
- AX-UN has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
- AX-UN has less shares outstanding than it did 1 year ago.
- The number of shares outstanding for AX-UN has been reduced compared to 5 years ago.
- AX-UN has a better debt/assets ratio than last year.
2.2 Solvency
- Based on the Altman-Z score of 0.10, we must say that AX-UN is in the distress zone and has some risk of bankruptcy.
- AX-UN's Altman-Z score of 0.10 is on the low side compared to the rest of the industry. AX-UN is outperformed by 68.42% of its industry peers.
- AX-UN has a debt to FCF ratio of 14.16. This is a negative value and a sign of low solvency as AX-UN would need 14.16 years to pay back of all of its debts.
- Looking at the Debt to FCF ratio, with a value of 14.16, AX-UN is in the better half of the industry, outperforming 73.68% of the companies in the same industry.
- AX-UN has a Debt/Equity ratio of 0.47. This is a healthy value indicating a solid balance between debt and equity.
- AX-UN has a Debt to Equity ratio of 0.47. This is amongst the best in the industry. AX-UN outperforms 100.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.47 | ||
| Debt/FCF | 14.16 | ||
| Altman-Z | 0.1 |
ROIC/WACC0.04
WACC6.64%
2.3 Liquidity
- A Current Ratio of 0.75 indicates that AX-UN may have some problems paying its short term obligations.
- AX-UN's Current ratio of 0.75 is amongst the best of the industry. AX-UN outperforms 84.21% of its industry peers.
- AX-UN has a Quick Ratio of 0.75. This is a bad value and indicates that AX-UN is not financially healthy enough and could expect problems in meeting its short term obligations.
- With an excellent Quick ratio value of 0.75, AX-UN belongs to the best of the industry, outperforming 84.21% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.75 | ||
| Quick Ratio | 0.75 |
3. Growth
3.1 Past
- The Earnings Per Share has grown by an nice 19.29% over the past year.
- Looking at the last year, AX-UN shows a very negative growth in Revenue. The Revenue has decreased by -20.06% in the last year.
- The Revenue for AX-UN have been decreasing by -10.45% on average. This is quite bad
EPS 1Y (TTM)19.29%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-166.48%
Revenue 1Y (TTM)-20.06%
Revenue growth 3Y-10.54%
Revenue growth 5Y-10.45%
Sales Q2Q%-10.33%
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.
4. Valuation
4.1 Price/Earnings Ratio
- AX-UN reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
- Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for AX-UN. No positive earnings are expected for the next year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | N/A |
4.2 Price Multiples
- Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of AX-UN is on the same level as its industry peers.
- The rest of the industry has a similar Price/Free Cash Flow ratio as AX-UN.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 11.54 | ||
| EV/EBITDA | 207.76 |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2YN/A
EPS Next 3YN/A
5. Dividend
5.1 Amount
- With a Yearly Dividend Yield of 8.45%, AX-UN is a good candidate for dividend investing.
- AX-UN's Dividend Yield is a higher than the industry average which is at 7.11.
- Compared to an average S&P500 Dividend Yield of 1.82, AX-UN pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 8.45% |
5.2 History
- On average, the dividend of AX-UN grows each year by 8.07%, which is quite nice.
- AX-UN has paid a dividend for at least 10 years, which is a reliable track record.
- AX-UN has decreased its dividend recently.
Dividend Growth(5Y)8.07%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
- AX-UN has negative earnings and hence a negative payout ratio. The dividend may be in danger.
- The dividend of AX-UN is growing, but earnings are growing more, so the dividend growth is sustainable.
DP-107.39%
EPS Next 2YN/A
EPS Next 3YN/A
ARTIS REAL ESTATE INVESTMENT / AX-UN.CA FAQ
Can you provide the ChartMill fundamental rating for ARTIS REAL ESTATE INVESTMENT?
ChartMill assigns a fundamental rating of 3 / 10 to AX-UN.CA.
What is the valuation status for AX-UN stock?
ChartMill assigns a valuation rating of 1 / 10 to ARTIS REAL ESTATE INVESTMENT (AX-UN.CA). This can be considered as Overvalued.
Can you provide the profitability details for ARTIS REAL ESTATE INVESTMENT?
ARTIS REAL ESTATE INVESTMENT (AX-UN.CA) has a profitability rating of 2 / 10.
Can you provide the dividend sustainability for AX-UN stock?
The dividend rating of ARTIS REAL ESTATE INVESTMENT (AX-UN.CA) is 6 / 10 and the dividend payout ratio is -107.39%.