BTB REAL ESTATE INVESTMENT T (BTB-UN.CA) Stock Fundamental Analysis
TSX:BTB-UN - CA11777P3007 - REIT
3.71 CAD
-0.01 (-0.27%)
BTB-UN gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 37 industry peers in the Diversified REITs industry. While BTB-UN belongs to the best of the industry regarding profitability, there are concerns on its financial health. BTB-UN is valued quite cheap, while showing a decent growth score. This is a good combination!
1. Profitability
1.1 Basic Checks
BTB-UN had positive earnings in the past year.
BTB-UN had a positive operating cash flow in the past year.
BTB-UN had positive earnings in each of the past 5 years.
In the past 5 years BTB-UN always reported a positive cash flow from operatings.
1.2 Ratios
With an excellent Return On Assets value of 3.02%, BTB-UN belongs to the best of the industry, outperforming 89.19% of the companies in the same industry.
BTB-UN has a Return On Equity of 7.69%. This is amongst the best in the industry. BTB-UN outperforms 91.89% of its industry peers.
BTB-UN has a Return On Invested Capital of 4.36%. This is amongst the best in the industry. BTB-UN outperforms 83.78% of its industry peers.
The Average Return On Invested Capital over the past 3 years for BTB-UN is in line with the industry average of 5.04%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.02% | ||
| ROE | 7.69% | ||
| ROIC | 4.36% |
ROA(3y)3.1%
ROA(5y)2.66%
ROE(3y)7.92%
ROE(5y)6.98%
ROIC(3y)4.42%
ROIC(5y)4.2%
1.3 Margins
The Profit Margin of BTB-UN (29.30%) is better than 81.08% of its industry peers.
In the last couple of years the Profit Margin of BTB-UN has declined.
BTB-UN has a better Operating Margin (57.48%) than 67.57% of its industry peers.
BTB-UN's Operating Margin has been stable in the last couple of years.
The Gross Margin of BTB-UN (79.85%) is better than 91.89% of its industry peers.
BTB-UN's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 57.48% | ||
| PM (TTM) | 29.3% | ||
| GM | 79.85% |
OM growth 3Y0.93%
OM growth 5Y1.2%
PM growth 3Y-10.4%
PM growth 5Y-11.68%
GM growth 3Y0.72%
GM growth 5Y0.59%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so BTB-UN is destroying value.
The number of shares outstanding for BTB-UN has been increased compared to 1 year ago.
BTB-UN has more shares outstanding than it did 5 years ago.
BTB-UN has a better debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 0.22, we must say that BTB-UN is in the distress zone and has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 0.22, BTB-UN is doing worse than 70.27% of the companies in the same industry.
BTB-UN has a debt to FCF ratio of 10.59. This is a negative value and a sign of low solvency as BTB-UN would need 10.59 years to pay back of all of its debts.
BTB-UN's Debt to FCF ratio of 10.59 is amongst the best of the industry. BTB-UN outperforms 81.08% of its industry peers.
A Debt/Equity ratio of 1.48 is on the high side and indicates that BTB-UN has dependencies on debt financing.
BTB-UN has a Debt to Equity ratio of 1.48. This is in the lower half of the industry: BTB-UN underperforms 70.27% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.48 | ||
| Debt/FCF | 10.59 | ||
| Altman-Z | 0.22 |
ROIC/WACC0.74
WACC5.89%
2.3 Liquidity
BTB-UN has a Current Ratio of 0.36. This is a bad value and indicates that BTB-UN is not financially healthy enough and could expect problems in meeting its short term obligations.
With a decent Current ratio value of 0.36, BTB-UN is doing good in the industry, outperforming 64.86% of the companies in the same industry.
BTB-UN has a Quick Ratio of 0.36. This is a bad value and indicates that BTB-UN is not financially healthy enough and could expect problems in meeting its short term obligations.
BTB-UN's Quick ratio of 0.36 is fine compared to the rest of the industry. BTB-UN outperforms 64.86% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.36 | ||
| Quick Ratio | 0.36 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 19.76% over the past year.
The earnings per share for BTB-UN have been decreasing by -12.94% on average. This is quite bad
Looking at the last year, BTB-UN shows a small growth in Revenue. The Revenue has grown by 1.59% in the last year.
BTB-UN shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 6.80% yearly.
EPS 1Y (TTM)19.76%
EPS 3Y-8.84%
EPS 5Y-12.94%
EPS Q2Q%-15.74%
Revenue 1Y (TTM)1.59%
Revenue growth 3Y9.02%
Revenue growth 5Y6.8%
Sales Q2Q%-5.29%
3.2 Future
Based on estimates for the next years, BTB-UN will show a small growth in Earnings Per Share. The EPS will grow by 5.90% on average per year.
Based on estimates for the next years, BTB-UN will show a small growth in Revenue. The Revenue will grow by 2.78% on average per year.
EPS Next Y6.25%
EPS Next 2Y7.53%
EPS Next 3Y5.9%
EPS Next 5YN/A
Revenue Next Year5.56%
Revenue Next 2Y3.52%
Revenue Next 3Y2.78%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
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
BTB-UN is valuated reasonably with a Price/Earnings ratio of 8.63.
Based on the Price/Earnings ratio, BTB-UN is valued cheaply inside the industry as 97.30% of the companies are valued more expensively.
BTB-UN's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.13.
A Price/Forward Earnings ratio of 9.93 indicates a reasonable valuation of BTB-UN.
91.89% of the companies in the same industry are more expensive than BTB-UN, based on the Price/Forward Earnings ratio.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.76, BTB-UN is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.63 | ||
| Fwd PE | 9.93 |
4.2 Price Multiples
89.19% of the companies in the same industry are more expensive than BTB-UN, based on the Enterprise Value to EBITDA ratio.
Based on the Price/Free Cash Flow ratio, BTB-UN is valued cheaply inside the industry as 89.19% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 4.74 | ||
| EV/EBITDA | 13.65 |
4.3 Compensation for Growth
The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
BTB-UN has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)1.38
PEG (5Y)N/A
EPS Next 2Y7.53%
EPS Next 3Y5.9%
5. Dividend
5.1 Amount
BTB-UN has a Yearly Dividend Yield of 9.04%, which is a nice return.
BTB-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, BTB-UN pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 9.04% |
5.2 History
The dividend of BTB-UN decreases each year by -6.72%.
BTB-UN has paid a dividend for at least 10 years, which is a reliable track record.
BTB-UN has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)-6.72%
Div Incr Years1
Div Non Decr Years3
5.3 Sustainability
63.00% of the earnings are spent on dividend by BTB-UN. This is not a sustainable payout ratio.
DP63%
EPS Next 2Y7.53%
EPS Next 3Y5.9%
TSX:BTB-UN (8/29/2025, 7:00:00 PM)
3.71
-0.01 (-0.27%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners0.81%
Inst Owner ChangeN/A
Ins Owners1.86%
Ins Owner ChangeN/A
Market Cap327.33M
Analysts72.5
Price Target3.71 (0%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 9.04% |
Yearly Dividend0.26
Dividend Growth(5Y)-6.72%
DP63%
Div Incr Years1
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)-0.34%
PT rev (3m)2.11%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-10.53%
EPS NY rev (3m)-10.53%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.76%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.63 | ||
| Fwd PE | 9.93 | ||
| P/S | 2.52 | ||
| P/FCF | 4.74 | ||
| P/OCF | 4.74 | ||
| P/B | 0.66 | ||
| P/tB | 0.66 | ||
| EV/EBITDA | 13.65 |
EPS(TTM)0.43
EY11.59%
EPS(NY)0.37
Fwd EY10.07%
FCF(TTM)0.78
FCFY21.1%
OCF(TTM)0.78
OCFY21.1%
SpS1.47
BVpS5.62
TBVpS5.62
PEG (NY)1.38
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.02% | ||
| ROE | 7.69% | ||
| ROCE | 6.21% | ||
| ROIC | 4.36% | ||
| ROICexc | 4.38% | ||
| ROICexgc | 4.38% | ||
| OM | 57.48% | ||
| PM (TTM) | 29.3% | ||
| GM | 79.85% | ||
| FCFM | 53.08% |
ROA(3y)3.1%
ROA(5y)2.66%
ROE(3y)7.92%
ROE(5y)6.98%
ROIC(3y)4.42%
ROIC(5y)4.2%
ROICexc(3y)4.43%
ROICexc(5y)4.22%
ROICexgc(3y)4.43%
ROICexgc(5y)4.22%
ROCE(3y)6.3%
ROCE(5y)5.98%
ROICexcg growth 3Y5.92%
ROICexcg growth 5Y1.88%
ROICexc growth 3Y5.92%
ROICexc growth 5Y1.88%
OM growth 3Y0.93%
OM growth 5Y1.2%
PM growth 3Y-10.4%
PM growth 5Y-11.68%
GM growth 3Y0.72%
GM growth 5Y0.59%
F-Score5
Asset Turnover0.1
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.48 | ||
| Debt/FCF | 10.59 | ||
| Debt/EBITDA | 9.77 | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 2.29 | ||
| Cash Conversion | 92.24% | ||
| Profit Quality | 181.15% | ||
| Current Ratio | 0.36 | ||
| Quick Ratio | 0.36 | ||
| Altman-Z | 0.22 |
F-Score5
WACC5.89%
ROIC/WACC0.74
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)179.15%
Profit Quality(5y)449.53%
High Growth Momentum
Growth
EPS 1Y (TTM)19.76%
EPS 3Y-8.84%
EPS 5Y-12.94%
EPS Q2Q%-15.74%
EPS Next Y6.25%
EPS Next 2Y7.53%
EPS Next 3Y5.9%
EPS Next 5YN/A
Revenue 1Y (TTM)1.59%
Revenue growth 3Y9.02%
Revenue growth 5Y6.8%
Sales Q2Q%-5.29%
Revenue Next Year5.56%
Revenue Next 2Y3.52%
Revenue Next 3Y2.78%
Revenue Next 5YN/A
EBIT growth 1Y0.32%
EBIT growth 3Y10.03%
EBIT growth 5Y8.08%
EBIT Next Year-4.7%
EBIT Next 3Y-1.44%
EBIT Next 5YN/A
FCF growth 1Y-4.57%
FCF growth 3Y5.42%
FCF growth 5Y6.95%
OCF growth 1Y-4.49%
OCF growth 3Y5.3%
OCF growth 5Y6.93%