BOARDWALK REAL ESTATE INVEST (BEI-UN.CA) Stock Fundamental Analysis
TSX:BEI-UN - Toronto Stock Exchange - CA0966311064 - REIT - Currency: CAD
Overall BEI-UN gets a fundamental rating of 5 out of 10. We evaluated BEI-UN 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 is not valued too expensively and it also shows a decent growth rate.
1. Profitability
1.1 Basic Checks
BEI-UN had positive earnings in the past year.
BEI-UN had a positive operating cash flow in the past year.
Of the past 5 years BEI-UN 4 years were profitable.
Each year in the past 5 years BEI-UN had a positive operating cash flow.
1.2 Ratios
The Return On Assets of BEI-UN (8.04%) is better than 100.00% of its industry peers.
With an excellent Return On Equity value of 14.50%, BEI-UN belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 2.99%, BEI-UN is in line with its industry, outperforming 50.00% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for BEI-UN is in line with the industry average of 2.94%.
The last Return On Invested Capital (2.99%) for BEI-UN is above the 3 year average (2.71%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.04% | ||
| ROE | 14.5% | ||
| ROIC | 2.99% |
ROA(3y)6.3%
ROA(5y)3.24%
ROE(3y)12.43%
ROE(5y)6.31%
ROIC(3y)2.71%
ROIC(5y)2.72%
1.3 Margins
With an excellent Profit Margin value of 117.70%, BEI-UN belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
In the last couple of years the Profit Margin of BEI-UN has grown nicely.
BEI-UN has a Operating Margin of 53.26%. This is comparable to the rest of the industry: BEI-UN outperforms 43.75% of its industry peers.
BEI-UN's Operating Margin has improved in the last couple of years.
BEI-UN has a better Gross Margin (72.13%) 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 | 53.26% | ||
| PM (TTM) | 117.7% | ||
| GM | 72.13% |
OM growth 3Y2.61%
OM growth 5Y4.25%
PM growth 3YN/A
PM growth 5Y22.39%
GM growth 3Y0.94%
GM growth 5Y2.48%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so BEI-UN is destroying value.
BEI-UN has more shares outstanding than it did 1 year ago.
The number of shares outstanding for BEI-UN has been increased compared to 5 years ago.
Compared to 1 year ago, BEI-UN has an improved debt to assets ratio.
2.2 Solvency
BEI-UN has an Altman-Z score of 1.26. This is a bad value and indicates that BEI-UN is not financially healthy and even has some risk of bankruptcy.
BEI-UN's Altman-Z score of 1.26 is amongst the best of the industry. BEI-UN outperforms 93.75% of its industry peers.
BEI-UN has a debt to FCF ratio of 13.94. This is a negative value and a sign of low solvency as BEI-UN would need 13.94 years to pay back of all of its debts.
With a Debt to FCF ratio value of 13.94, BEI-UN perfoms like the industry average, outperforming 50.00% of the companies in the same industry.
A Debt/Equity ratio of 0.58 indicates that BEI-UN is somewhat dependend on debt financing.
The Debt to Equity ratio of BEI-UN (0.58) is better than 100.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.58 | ||
| Debt/FCF | 13.94 | ||
| Altman-Z | 1.26 |
ROIC/WACC0.57
WACC5.28%
2.3 Liquidity
A Current Ratio of 0.19 indicates that BEI-UN may have some problems paying its short term obligations.
The Current ratio of BEI-UN (0.19) is comparable to the rest of the industry.
BEI-UN has a Quick Ratio of 0.19. 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.
With a Quick ratio value of 0.19, BEI-UN perfoms like the industry average, outperforming 43.75% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.19 | ||
| Quick Ratio | 0.19 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 27.05% over the past year.
BEI-UN shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 30.78% yearly.
Looking at the last year, BEI-UN shows a quite strong growth in Revenue. The Revenue has grown by 11.21% in the last year.
Measured over the past years, BEI-UN shows a small growth in Revenue. The Revenue has been growing by 4.66% on average per year.
EPS 1Y (TTM)27.05%
EPS 3YN/A
EPS 5Y30.78%
EPS Q2Q%13.03%
Revenue 1Y (TTM)11.21%
Revenue growth 3Y5.43%
Revenue growth 5Y4.66%
Sales Q2Q%9.96%
3.2 Future
The Earnings Per Share is expected to grow by 7.96% on average over the next years.
The Revenue is expected to grow by 7.93% on average over the next years.
EPS Next Y238.66%
EPS Next 2Y9.91%
EPS Next 3Y7.96%
EPS Next 5YN/A
Revenue Next Year12.63%
Revenue Next 2Y9.94%
Revenue Next 3Y7.93%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
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
BEI-UN is valuated correctly with a Price/Earnings ratio of 15.67.
75.00% of the companies in the same industry are more expensive than BEI-UN, based on the Price/Earnings ratio.
When comparing the Price/Earnings ratio of BEI-UN to the average of the S&P500 Index (30.43), we can say BEI-UN is valued slightly cheaper.
The Price/Forward Earnings ratio is 14.69, which indicates a correct valuation of BEI-UN.
BEI-UN's Price/Forward Earnings is on the same level as the industry average.
The average S&P500 Price/Forward Earnings ratio is at 23.78. BEI-UN is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.67 | ||
| Fwd PE | 14.69 |
4.2 Price Multiples
81.25% of the companies in the same industry are more expensive than BEI-UN, based on the Enterprise Value to EBITDA ratio.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of BEI-UN indicates a slightly more expensive valuation: BEI-UN is more expensive than 68.75% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 13.11 | ||
| EV/EBITDA | 19.74 |
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.
BEI-UN has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)0.07
PEG (5Y)0.51
EPS Next 2Y9.91%
EPS Next 3Y7.96%
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.
Compared to an average industry Dividend Yield of 5.04, BEI-UN's dividend is way lower than its industry peers. On top of this 93.75% of the companies listed in the same industry pay a better dividend than BEI-UN!
BEI-UN's Dividend Yield is comparable with the S&P500 average which is at 2.30.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.87% |
5.2 History
The dividend of BEI-UN has a limited annual growth rate of 0.03%.
BEI-UN has paid a dividend for at least 10 years, which is a reliable track record.
BEI-UN has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)0.03%
Div Incr Years3
Div Non Decr Years3
5.3 Sustainability
9.12% of the earnings are spent on dividend by BEI-UN. This is a low number and sustainable payout ratio.
The dividend of BEI-UN is growing, but earnings are growing more, so the dividend growth is sustainable.
DP9.12%
EPS Next 2Y9.91%
EPS Next 3Y7.96%
BOARDWALK REAL ESTATE INVEST
TSX:BEI-UN (2/18/2025, 7:00:00 PM)
64.11
-0.93 (-1.43%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryResidential REITs
Earnings (Last)
Earnings (Next)
Inst Owners38.84%
Inst Owner ChangeN/A
Ins Owners0.15%
Ins Owner ChangeN/A
Market Cap3.15B
Analysts77.14
Price Target85.12 (32.77%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.87% |
Yearly Dividend1.01
Dividend Growth(5Y)0.03%
DP9.12%
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)-2.85%
PT rev (3m)-9.47%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)12.23%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.02%
Revenue NY rev (3m)1.1%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.67 | ||
| Fwd PE | 14.69 | ||
| P/S | 5.32 | ||
| P/FCF | 13.11 | ||
| P/OCF | 13.11 | ||
| P/B | 0.66 | ||
| P/tB | 0.66 | ||
| EV/EBITDA | 19.74 |
EPS(TTM)4.09
EY6.38%
EPS(NY)4.36
Fwd EY6.81%
FCF(TTM)4.89
FCFY7.63%
OCF(TTM)4.89
OCFY7.63%
SpS12.04
BVpS97.72
TBVpS97.72
PEG (NY)0.07
PEG (5Y)0.51
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.04% | ||
| ROE | 14.5% | ||
| ROCE | 4.16% | ||
| ROIC | 2.99% | ||
| ROICexc | 3.04% | ||
| ROICexgc | 3.04% | ||
| OM | 53.26% | ||
| PM (TTM) | 117.7% | ||
| GM | 72.13% | ||
| FCFM | 40.61% |
ROA(3y)6.3%
ROA(5y)3.24%
ROE(3y)12.43%
ROE(5y)6.31%
ROIC(3y)2.71%
ROIC(5y)2.72%
ROICexc(3y)2.77%
ROICexc(5y)2.76%
ROICexgc(3y)2.77%
ROICexgc(5y)2.76%
ROCE(3y)3.77%
ROCE(5y)3.78%
ROICexcg growth 3Y-1.07%
ROICexcg growth 5Y2.96%
ROICexc growth 3Y-1.07%
ROICexc growth 5Y2.96%
OM growth 3Y2.61%
OM growth 5Y4.25%
PM growth 3YN/A
PM growth 5Y22.39%
GM growth 3Y0.94%
GM growth 5Y2.48%
F-Score6
Asset Turnover0.07
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.58 | ||
| Debt/FCF | 13.94 | ||
| Debt/EBITDA | 8.55 | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 2.78 | ||
| Cash Conversion | 74.3% | ||
| Profit Quality | 34.51% | ||
| Current Ratio | 0.19 | ||
| Quick Ratio | 0.19 | ||
| Altman-Z | 1.26 |
F-Score6
WACC5.28%
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)40.39%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)27.05%
EPS 3YN/A
EPS 5Y30.78%
EPS Q2Q%13.03%
EPS Next Y238.66%
EPS Next 2Y9.91%
EPS Next 3Y7.96%
EPS Next 5YN/A
Revenue 1Y (TTM)11.21%
Revenue growth 3Y5.43%
Revenue growth 5Y4.66%
Sales Q2Q%9.96%
Revenue Next Year12.63%
Revenue Next 2Y9.94%
Revenue Next 3Y7.93%
Revenue Next 5YN/A
EBIT growth 1Y16.9%
EBIT growth 3Y8.18%
EBIT growth 5Y9.1%
EBIT Next Year21.26%
EBIT Next 3Y11.55%
EBIT Next 5YN/A
FCF growth 1Y49.81%
FCF growth 3Y13.65%
FCF growth 5Y15.01%
OCF growth 1Y49.68%
OCF growth 3Y12.29%
OCF growth 5Y13.24%