CAN APARTMENT PROP REAL ESTA (CAR-UN.CA) Stock Fundamental Analysis
Canada - TSX:CAR-UN - CA1349211054 - REIT
40.74 CAD
+0.33 (+0.82%)
We assign a fundamental rating of 4 out of 10 to CAR-UN. CAR-UN was compared to 16 industry peers in the Residential REITs industry. Both the profitability and the financial health of CAR-UN get a neutral evaluation. Nothing too spectacular is happening here. CAR-UN does not seem to be growing, but still is valued expensively.
1. Profitability
1.1 Basic Checks
CAR-UN had positive earnings in the past year.
In the past year CAR-UN had a positive cash flow from operations.
Of the past 5 years CAR-UN 4 years were profitable.
CAR-UN had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
With a Return On Assets value of 0.53%, CAR-UN perfoms like the industry average, outperforming 43.75% of the companies in the same industry.
CAR-UN has a Return On Equity (0.91%) which is in line with its industry peers.
With an excellent Return On Invested Capital value of 3.81%, CAR-UN belongs to the best of the industry, outperforming 93.75% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for CAR-UN is in line with the industry average of 2.99%.
The last Return On Invested Capital (3.81%) for CAR-UN is above the 3 year average (3.48%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.53% | ||
| ROE | 0.91% | ||
| ROIC | 3.81% |
ROA(3y)-0.16%
ROA(5y)2.67%
ROE(3y)-0.35%
ROE(5y)4.46%
ROIC(3y)3.48%
ROIC(5y)3.28%
1.3 Margins
CAR-UN has a Profit Margin (7.60%) which is comparable to the rest of the industry.
In the last couple of years the Profit Margin of CAR-UN has declined.
CAR-UN has a better Operating Margin (57.77%) than 68.75% of its industry peers.
CAR-UN's Operating Margin has been stable in the last couple of years.
CAR-UN has a Gross Margin (65.18%) which is in line with its industry peers.
In the last couple of years the Gross Margin of CAR-UN has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 57.77% | ||
| PM (TTM) | 7.6% | ||
| GM | 65.18% |
OM growth 3Y0.86%
OM growth 5Y0.91%
PM growth 3Y-43.93%
PM growth 5Y-29.69%
GM growth 3Y0.15%
GM growth 5Y0.18%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), CAR-UN is destroying value.
CAR-UN has less shares outstanding than it did 1 year ago.
The number of shares outstanding for CAR-UN has been reduced compared to 5 years ago.
CAR-UN has a better debt/assets ratio than last year.
2.2 Solvency
CAR-UN has an Altman-Z score of 1.18. This is a bad value and indicates that CAR-UN is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 1.18, CAR-UN belongs to the top of the industry, outperforming 87.50% of the companies in the same industry.
The Debt to FCF ratio of CAR-UN is 10.02, which is on the high side as it means it would take CAR-UN, 10.02 years of fcf income to pay off all of its debts.
CAR-UN has a Debt to FCF ratio (10.02) which is in line with its industry peers.
CAR-UN has a Debt/Equity ratio of 0.60. This is a neutral value indicating CAR-UN is somewhat dependend on debt financing.
CAR-UN has a Debt to Equity ratio of 0.60. This is amongst the best in the industry. CAR-UN outperforms 81.25% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.6 | ||
| Debt/FCF | 10.02 | ||
| Altman-Z | 1.18 |
ROIC/WACC0.55
WACC6.89%
2.3 Liquidity
CAR-UN has a Current Ratio of 0.60. This is a bad value and indicates that CAR-UN is not financially healthy enough and could expect problems in meeting its short term obligations.
The Current ratio of CAR-UN (0.60) is better than 87.50% of its industry peers.
CAR-UN has a Quick Ratio of 0.60. This is a bad value and indicates that CAR-UN is not financially healthy enough and could expect problems in meeting its short term obligations.
CAR-UN has a Quick ratio of 0.60. This is amongst the best in the industry. CAR-UN outperforms 87.50% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.6 | ||
| Quick Ratio | 0.6 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 253.58% over the past year.
The earnings per share for CAR-UN have been decreasing by -25.44% on average. This is quite bad
Looking at the last year, CAR-UN shows a decrease in Revenue. The Revenue has decreased by -2.56% in the last year.
The Revenue has been growing slightly by 7.34% on average over the past years.
EPS 1Y (TTM)253.58%
EPS 3Y-40.04%
EPS 5Y-25.44%
EPS Q2Q%-29.9%
Revenue 1Y (TTM)-2.56%
Revenue growth 3Y6.04%
Revenue growth 5Y7.34%
Sales Q2Q%-8.52%
3.2 Future
Based on estimates for the next years, CAR-UN will show a small growth in Earnings Per Share. The EPS will grow by 0.75% on average per year.
Based on estimates for the next years, CAR-UN will show a decrease in Revenue. The Revenue will decrease by -1.44% on average per year.
EPS Next Y-35.34%
EPS Next 2Y-9.68%
EPS Next 3Y0.75%
EPS Next 5YN/A
Revenue Next Year-8.94%
Revenue Next 2Y-3.42%
Revenue Next 3Y-1.44%
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 accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
CAR-UN is valuated quite expensively with a Price/Earnings ratio of 81.48.
CAR-UN's Price/Earnings ratio is a bit more expensive when compared to the industry. CAR-UN is more expensive than 62.50% of the companies in the same industry.
CAR-UN's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 27.86.
The Price/Forward Earnings ratio is 18.59, which indicates a rather expensive current valuation of CAR-UN.
CAR-UN's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. CAR-UN is more expensive than 62.50% of the companies in the same industry.
CAR-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 | 81.48 | ||
| Fwd PE | 18.59 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, CAR-UN is valued cheaper than 87.50% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, CAR-UN is valued a bit more expensive than the industry average as 62.50% of the companies are valued more cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 10.59 | ||
| EV/EBITDA | 19.69 |
4.3 Compensation for Growth
The decent profitability rating of CAR-UN may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-9.68%
EPS Next 3Y0.75%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 2.95%, CAR-UN has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 4.32, CAR-UN is paying slightly less dividend.
CAR-UN's Dividend Yield is a higher than the S&P500 average which is at 2.41.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.95% |
5.2 History
The dividend of CAR-UN is nicely growing with an annual growth rate of 9.26%!
CAR-UN has paid a dividend for at least 10 years, which is a reliable track record.
CAR-UN has decreased its dividend in the last 3 years.
Dividend Growth(5Y)9.26%
Div Incr Years2
Div Non Decr Years2
5.3 Sustainability
CAR-UN pays out 297.71% of its income as dividend. This is not a sustainable payout ratio.
CAR-UN's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP297.71%
EPS Next 2Y-9.68%
EPS Next 3Y0.75%
TSX:CAR-UN (10/3/2025, 7:00:00 PM)
40.74
+0.33 (+0.82%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryResidential REITs
Earnings (Last)
Earnings (Next)
Inst Owners42.42%
Inst Owner ChangeN/A
Ins Owners0.26%
Ins Owner ChangeN/A
Market Cap6.38B
Analysts74.12
Price Target51.36 (26.07%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.95% |
Yearly Dividend1.48
Dividend Growth(5Y)9.26%
DP297.71%
Div Incr Years2
Div Non Decr Years2
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)0.31%
PT rev (3m)-0.3%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-32.02%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.19%
Revenue NY rev (3m)-0.77%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 81.48 | ||
| Fwd PE | 18.59 | ||
| P/S | 5.98 | ||
| P/FCF | 10.59 | ||
| P/OCF | 10.54 | ||
| P/B | 0.72 | ||
| P/tB | 0.72 | ||
| EV/EBITDA | 19.69 |
EPS(TTM)0.5
EY1.23%
EPS(NY)2.19
Fwd EY5.38%
FCF(TTM)3.85
FCFY9.45%
OCF(TTM)3.87
OCFY9.49%
SpS6.81
BVpS56.68
TBVpS56.68
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.53% | ||
| ROE | 0.91% | ||
| ROCE | 4.34% | ||
| ROIC | 3.81% | ||
| ROICexc | 3.82% | ||
| ROICexgc | 3.82% | ||
| OM | 57.77% | ||
| PM (TTM) | 7.6% | ||
| GM | 65.18% | ||
| FCFM | 56.52% |
ROA(3y)-0.16%
ROA(5y)2.67%
ROE(3y)-0.35%
ROE(5y)4.46%
ROIC(3y)3.48%
ROIC(5y)3.28%
ROICexc(3y)3.5%
ROICexc(5y)3.3%
ROICexgc(3y)3.5%
ROICexgc(5y)3.3%
ROCE(3y)3.97%
ROCE(5y)3.74%
ROICexcg growth 3Y12.47%
ROICexcg growth 5Y5.79%
ROICexc growth 3Y12.51%
ROICexc growth 5Y5.81%
OM growth 3Y0.86%
OM growth 5Y0.91%
PM growth 3Y-43.93%
PM growth 5Y-29.69%
GM growth 3Y0.15%
GM growth 5Y0.18%
F-Score8
Asset Turnover0.07
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.6 | ||
| Debt/FCF | 10.02 | ||
| Debt/EBITDA | 8.6 | ||
| Cap/Depr | 43.02% | ||
| Cap/Sales | 0.26% | ||
| Interest Coverage | 1.91 | ||
| Cash Conversion | 97.27% | ||
| Profit Quality | 744.09% | ||
| Current Ratio | 0.6 | ||
| Quick Ratio | 0.6 | ||
| Altman-Z | 1.18 |
F-Score8
WACC6.89%
ROIC/WACC0.55
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)253.58%
EPS 3Y-40.04%
EPS 5Y-25.44%
EPS Q2Q%-29.9%
EPS Next Y-35.34%
EPS Next 2Y-9.68%
EPS Next 3Y0.75%
EPS Next 5YN/A
Revenue 1Y (TTM)-2.56%
Revenue growth 3Y6.04%
Revenue growth 5Y7.34%
Sales Q2Q%-8.52%
Revenue Next Year-8.94%
Revenue Next 2Y-3.42%
Revenue Next 3Y-1.44%
Revenue Next 5YN/A
EBIT growth 1Y-4.11%
EBIT growth 3Y6.95%
EBIT growth 5Y8.32%
EBIT Next Year-6.67%
EBIT Next 3Y0.03%
EBIT Next 5YN/A
FCF growth 1Y0.46%
FCF growth 3Y5.4%
FCF growth 5Y7.08%
OCF growth 1Y0.92%
OCF growth 3Y5.57%
OCF growth 5Y7.19%