ARTIS REAL ESTATE INVESTMENT (AX-UN.CA) Stock Fundamental Analysis
TSX:AX-UN - CA04315L1058 - REIT
7.29 CAD
+0.11 (+1.53%)
AX-UN gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 37 industry peers in the Diversified REITs industry. The financial health of AX-UN is average, but there are quite some concerns on its profitability. AX-UN does not seem to be growing, but still is valued expensively.
1. Profitability
1.1 Basic Checks
In the past year AX-UN has reported negative net income.
In the past year AX-UN had a positive cash flow from operations.
In multiple years AX-UN reported negative net income over the last 5 years.
Each year in the past 5 years AX-UN had a positive operating cash flow.
1.2 Ratios
Looking at the Return On Assets, with a value of -2.52%, AX-UN is doing worse than 67.57% of the companies in the same industry.
AX-UN has a Return On Equity of -4.53%. This is comparable to the rest of the industry: AX-UN outperforms 43.24% of its industry peers.
With a Return On Invested Capital value of 1.88%, AX-UN is not doing good in the industry: 86.49% of the companies in the same industry are doing better.
Measured over the past 3 years, the Average Return On Invested Capital for AX-UN is in line with the industry average of 5.04%.
| 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-UN has a Operating Margin of 21.59%. This is amonst the worse of the industry: AX-UN underperforms 81.08% of its industry peers.
In the last couple of years the Operating Margin of AX-UN has declined.
AX-UN has a worse Gross Margin (52.10%) than 64.86% of its industry peers.
In the last couple of years the Gross Margin of AX-UN 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%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), AX-UN is destroying value.
Compared to 1 year ago, AX-UN has less shares outstanding
Compared to 5 years ago, AX-UN has less shares outstanding
Compared to 1 year ago, AX-UN has an improved debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 0.07, we must say that AX-UN is in the distress zone and has some risk of bankruptcy.
With a Altman-Z score value of 0.07, AX-UN is not doing good in the industry: 72.97% of the companies in the same industry are doing better.
AX-UN has a debt to FCF ratio of 13.54. This is a negative value and a sign of low solvency as AX-UN would need 13.54 years to pay back of all of its debts.
AX-UN has a Debt to FCF ratio of 13.54. This is in the better half of the industry: AX-UN outperforms 72.97% of its industry peers.
A Debt/Equity ratio of 0.45 indicates that AX-UN is not too dependend on debt financing.
The Debt to Equity ratio of AX-UN (0.45) is better than 100.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.45 | ||
| Debt/FCF | 13.54 | ||
| Altman-Z | 0.07 |
ROIC/WACC0.27
WACC6.92%
2.3 Liquidity
A Current Ratio of 0.56 indicates that AX-UN may have some problems paying its short term obligations.
AX-UN's Current ratio of 0.56 is amongst the best of the industry. AX-UN outperforms 81.08% of its industry peers.
AX-UN has a Quick Ratio of 0.56. 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.
The Quick ratio of AX-UN (0.56) is better than 83.78% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.56 | ||
| Quick Ratio | 0.56 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 71.00% over the past year.
AX-UN shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -21.40%.
The Revenue for AX-UN 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.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings Ratio is negative for AX-UN. In the last year negative earnings were reported.
Also next year AX-UN 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-UN's Enterprise Value to EBITDA ratio is in line with the industry average.
Based on the Price/Free Cash Flow ratio, AX-UN is valued a bit cheaper than 67.57% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 8.85 | ||
| EV/EBITDA | 31.1 |
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
AX-UN has a Yearly Dividend Yield of 8.45%, which is a nice return.
AX-UN's Dividend Yield is a higher than the industry average which is at 7.95.
Compared to an average S&P500 Dividend Yield of 2.32, AX-UN pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 8.45% |
5.2 History
The dividend of AX-UN is nicely growing with an annual growth rate of 8.07%!
AX-UN has paid a dividend for at least 10 years, which is a reliable track record.
The dividend of AX-UN decreased recently.
Dividend Growth(5Y)8.07%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
The earnings of AX-UN are negative and hence is the payout ratio. AX-UN will probably not be able to sustain this dividend level.
AX-UN's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP-144.93%
EPS Next 2YN/A
EPS Next 3YN/A
TSX:AX-UN (9/3/2025, 7:00:00 PM)
7.29
+0.11 (+1.53%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners20.32%
Inst Owner ChangeN/A
Ins Owners0.22%
Ins Owner ChangeN/A
Market Cap705.16M
Analysts42.5
Price Target7.4 (1.51%)
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 Years1
Div Non Decr Years1
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)0%
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 | 2.75 | ||
| P/FCF | 8.85 | ||
| P/OCF | 8.85 | ||
| P/B | 0.48 | ||
| P/tB | 0.48 | ||
| EV/EBITDA | 31.1 |
EPS(TTM)-0.65
EYN/A
EPS(NY)-0.13
Fwd EYN/A
FCF(TTM)0.82
FCFY11.3%
OCF(TTM)0.82
OCFY11.3%
SpS2.65
BVpS15.05
TBVpS15.05
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 | 0.07 |
F-Score5
WACC6.92%
ROIC/WACC0.27
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%