BOARDWALK REAL ESTATE INVEST (BEI-UN.CA) Stock Fundamental Analysis
Canada - TSX:BEI-UN - CA0966311064 - REIT
69.05 CAD
+0.45 (+0.66%)
BEI-UN gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 16 industry peers in the Residential REITs industry. BEI-UN has an excellent profitability rating, but there are concerns on its financial health. BEI-UN has a decent growth rate and is not valued too expensively.
1. Profitability
1.1 Basic Checks
In the past year BEI-UN was profitable.
BEI-UN had a positive operating cash flow in the past year.
Of the past 5 years BEI-UN 4 years were profitable.
In the past 5 years BEI-UN always reported a positive cash flow from operatings.
1.2 Ratios
The Return On Assets of BEI-UN (3.78%) is better than 81.25% of its industry peers.
Looking at the Return On Equity, with a value of 6.64%, BEI-UN belongs to the top of the industry, outperforming 81.25% of the companies in the same industry.
BEI-UN has a Return On Invested Capital of 3.23%. This is in the better half of the industry: BEI-UN outperforms 75.00% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for BEI-UN is in line with the industry average of 2.99%.
The last Return On Invested Capital (3.23%) for BEI-UN is above the 3 year average (2.86%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.78% | ||
| ROE | 6.64% | ||
| ROIC | 3.23% |
ROA(3y)6.34%
ROA(5y)4.5%
ROE(3y)11.92%
ROE(5y)8.52%
ROIC(3y)2.86%
ROIC(5y)2.84%
1.3 Margins
Looking at the Profit Margin, with a value of 53.28%, BEI-UN belongs to the top of the industry, outperforming 81.25% of the companies in the same industry.
BEI-UN's Profit Margin has improved in the last couple of years.
With a Operating Margin value of 54.66%, BEI-UN perfoms like the industry average, outperforming 56.25% of the companies in the same industry.
BEI-UN's Operating Margin has improved in the last couple of years.
BEI-UN has a better Gross Margin (73.22%) than 87.50% of its industry peers.
In the last couple of years the Gross Margin of BEI-UN has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 54.66% | ||
| PM (TTM) | 53.28% | ||
| GM | 73.22% |
OM growth 3Y3.04%
OM growth 5Y3.17%
PM growth 3Y0.93%
PM growth 5Y66.4%
GM growth 3Y1.76%
GM growth 5Y1.52%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), BEI-UN is destroying value.
The number of shares outstanding for BEI-UN remains at a similar level compared to 1 year ago.
The number of shares outstanding for BEI-UN has been increased compared to 5 years ago.
The debt/assets ratio for BEI-UN has been reduced compared to a year ago.
2.2 Solvency
BEI-UN has an Altman-Z score of 1.33. This is a bad value and indicates that BEI-UN is not financially healthy and even has some risk of bankruptcy.
With an excellent Altman-Z score value of 1.33, BEI-UN belongs to the best of the industry, outperforming 93.75% of the companies in the same industry.
The Debt to FCF ratio of BEI-UN is 14.46, which is on the high side as it means it would take BEI-UN, 14.46 years of fcf income to pay off all of its debts.
BEI-UN's Debt to FCF ratio of 14.46 is in line compared to the rest of the industry. BEI-UN outperforms 43.75% of its industry peers.
A Debt/Equity ratio of 0.52 indicates that BEI-UN is somewhat dependend on debt financing.
BEI-UN has a Debt to Equity ratio of 0.52. This is amongst the best in the industry. BEI-UN outperforms 93.75% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.52 | ||
| Debt/FCF | 14.46 | ||
| Altman-Z | 1.33 |
ROIC/WACC0.57
WACC5.62%
2.3 Liquidity
BEI-UN has a Current Ratio of 0.22. This is a bad value and indicates that BEI-UN is not financially healthy enough and could expect problems in meeting its short term obligations.
The Current ratio of BEI-UN (0.22) is worse than 62.50% of its industry peers.
BEI-UN has a Quick Ratio of 0.22. This is a bad value and indicates that BEI-UN is not financially healthy enough and could expect problems in meeting its short term obligations.
BEI-UN has a Quick ratio of 0.21. This is in the lower half of the industry: BEI-UN underperforms 62.50% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.22 | ||
| Quick Ratio | 0.21 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 11.48% over the past year.
Measured over the past years, BEI-UN shows a very strong growth in Earnings Per Share. The EPS has been growing by 70.76% on average per year.
Looking at the last year, BEI-UN shows a quite strong growth in Revenue. The Revenue has grown by 8.12% in the last year.
The Revenue has been growing slightly by 5.79% on average over the past years.
EPS 1Y (TTM)11.48%
EPS 3Y4.33%
EPS 5Y70.76%
EPS Q2Q%9.91%
Revenue 1Y (TTM)8.12%
Revenue growth 3Y8.64%
Revenue growth 5Y5.79%
Sales Q2Q%3.77%
3.2 Future
The Earnings Per Share is expected to grow by 4.16% on average over the next years.
BEI-UN is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.19% yearly.
EPS Next Y61.46%
EPS Next 2Y4.05%
EPS Next 3Y4.16%
EPS Next 5YN/A
Revenue Next Year3.52%
Revenue Next 2Y4.04%
Revenue Next 3Y4.19%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 15.62, BEI-UN is valued correctly.
BEI-UN's Price/Earnings ratio is a bit cheaper when compared to the industry. BEI-UN is cheaper than 62.50% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 27.86, BEI-UN is valued a bit cheaper.
BEI-UN is valuated correctly with a Price/Forward Earnings ratio of 14.99.
Compared to the rest of the industry, the Price/Forward Earnings ratio of BEI-UN is on the same level as its industry peers.
BEI-UN is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 23.32, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.62 | ||
| Fwd PE | 14.99 |
4.2 Price Multiples
100.00% of the companies in the same industry are more expensive than BEI-UN, based on the Enterprise Value to EBITDA ratio.
BEI-UN's Price/Free Cash Flow ratio is a bit more expensive when compared to the industry. BEI-UN is more expensive than 68.75% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 14.92 | ||
| EV/EBITDA | 19.01 |
4.3 Compensation for Growth
BEI-UN's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
BEI-UN has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)0.25
PEG (5Y)0.22
EPS Next 2Y4.05%
EPS Next 3Y4.16%
5. Dividend
5.1 Amount
BEI-UN has a Yearly Dividend Yield of 1.87%. Purely for dividend investing, there may be better candidates out there.
With a Dividend Yield of 1.87, BEI-UN pays less dividend than the industry average, which is at 4.32. 81.25% of the companies listed in the same industry pay a better dividend than BEI-UN!
Compared to the average S&P500 Dividend Yield of 2.41, BEI-UN is paying slightly less dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.87% |
5.2 History
The dividend of BEI-UN is nicely growing with an annual growth rate of 6.64%!
BEI-UN has been paying a dividend for at least 10 years, so it has a reliable track record.
BEI-UN has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)6.64%
Div Incr Years3
Div Non Decr Years3
5.3 Sustainability
22.05% of the earnings are spent on dividend by BEI-UN. This is a low number and sustainable payout ratio.
BEI-UN's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP22.05%
EPS Next 2Y4.05%
EPS Next 3Y4.16%
TSX:BEI-UN (10/3/2025, 7:00:00 PM)
69.05
+0.45 (+0.66%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryResidential REITs
Earnings (Last)
Earnings (Next)
Inst Owners36.7%
Inst Owner ChangeN/A
Ins Owners0.15%
Ins Owner ChangeN/A
Market Cap3.39B
Analysts77.14
Price Target86.14 (24.75%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.87% |
Yearly Dividend1.26
Dividend Growth(5Y)6.64%
DP22.05%
Div Incr Years3
Div Non Decr Years3
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)0.18%
PT rev (3m)4.13%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)58.14%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.08%
Revenue NY rev (3m)-1.4%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.62 | ||
| Fwd PE | 14.99 | ||
| P/S | 5.45 | ||
| P/FCF | 14.92 | ||
| P/OCF | 14.59 | ||
| P/B | 0.68 | ||
| P/tB | 0.68 | ||
| EV/EBITDA | 19.01 |
EPS(TTM)4.42
EY6.4%
EPS(NY)4.61
Fwd EY6.67%
FCF(TTM)4.63
FCFY6.7%
OCF(TTM)4.73
OCFY6.85%
SpS12.67
BVpS101.63
TBVpS101.63
PEG (NY)0.25
PEG (5Y)0.22
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.78% | ||
| ROE | 6.64% | ||
| ROCE | 4.49% | ||
| ROIC | 3.23% | ||
| ROICexc | 3.24% | ||
| ROICexgc | 3.24% | ||
| OM | 54.66% | ||
| PM (TTM) | 53.28% | ||
| GM | 73.22% | ||
| FCFM | 36.55% |
ROA(3y)6.34%
ROA(5y)4.5%
ROE(3y)11.92%
ROE(5y)8.52%
ROIC(3y)2.86%
ROIC(5y)2.84%
ROICexc(3y)2.93%
ROICexc(5y)2.89%
ROICexgc(3y)2.93%
ROICexgc(5y)2.89%
ROCE(3y)3.98%
ROCE(5y)3.95%
ROICexcg growth 3Y4.08%
ROICexcg growth 5Y3.76%
ROICexc growth 3Y4.08%
ROICexc growth 5Y3.76%
OM growth 3Y3.04%
OM growth 5Y3.17%
PM growth 3Y0.93%
PM growth 5Y66.4%
GM growth 3Y1.76%
GM growth 5Y1.52%
F-Score5
Asset Turnover0.07
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.52 | ||
| Debt/FCF | 14.46 | ||
| Debt/EBITDA | 7.41 | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 2.94 | ||
| Cash Conversion | 66.66% | ||
| Profit Quality | 68.6% | ||
| Current Ratio | 0.22 | ||
| Quick Ratio | 0.21 | ||
| Altman-Z | 1.33 |
F-Score5
WACC5.62%
ROIC/WACC0.57
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)41.46%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)11.48%
EPS 3Y4.33%
EPS 5Y70.76%
EPS Q2Q%9.91%
EPS Next Y61.46%
EPS Next 2Y4.05%
EPS Next 3Y4.16%
EPS Next 5YN/A
Revenue 1Y (TTM)8.12%
Revenue growth 3Y8.64%
Revenue growth 5Y5.79%
Sales Q2Q%3.77%
Revenue Next Year3.52%
Revenue Next 2Y4.04%
Revenue Next 3Y4.19%
Revenue Next 5YN/A
EBIT growth 1Y12.31%
EBIT growth 3Y11.94%
EBIT growth 5Y9.14%
EBIT Next Year13.28%
EBIT Next 3Y7.59%
EBIT Next 5YN/A
FCF growth 1Y33.25%
FCF growth 3Y12.78%
FCF growth 5Y8.4%
OCF growth 1Y33.65%
OCF growth 3Y14.22%
OCF growth 5Y8.46%