CAN APARTMENT PROP REAL ESTA (CAR-UN.CA) Stock Fundamental Analysis
TSX:CAR-UN - Toronto Stock Exchange - CA1349211054 - REIT - Currency: CAD
Overall CAR-UN gets a fundamental rating of 4 out of 10. We evaluated CAR-UN against 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 has a expensive valuation and it also scores bad on growth.
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.
Each year in the past 5 years CAR-UN had a positive operating cash flow.
1.2 Ratios
CAR-UN has a Return On Assets of 1.88%. This is comparable to the rest of the industry: CAR-UN outperforms 56.25% of its industry peers.
CAR-UN has a Return On Equity of 3.24%. This is comparable to the rest of the industry: CAR-UN outperforms 56.25% of its industry peers.
CAR-UN has a Return On Invested Capital of 4.00%. This is amongst the best in the industry. CAR-UN outperforms 93.75% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for CAR-UN is in line with the industry average of 3.40%.
The last Return On Invested Capital (4.00%) for CAR-UN is above the 3 year average (3.48%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.88% | ||
| ROE | 3.24% | ||
| ROIC | 4% |
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
Looking at the Profit Margin, with a value of 26.31%, CAR-UN is in line with its industry, outperforming 56.25% of the companies in the same industry.
In the last couple of years the Profit Margin of CAR-UN has declined.
CAR-UN has a Operating Margin of 59.26%. This is in the better half of the industry: CAR-UN outperforms 62.50% of its industry peers.
CAR-UN's Operating Margin has been stable in the last couple of years.
With a Gross Margin value of 65.66%, CAR-UN perfoms like the industry average, outperforming 43.75% of the companies in the same industry.
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 | 59.26% | ||
| PM (TTM) | 26.31% | ||
| GM | 65.66% |
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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so CAR-UN is destroying value.
The number of shares outstanding for CAR-UN has been reduced compared to 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 1.24. This is a bad value and indicates that CAR-UN is not financially healthy and even has some risk of bankruptcy.
With an excellent Altman-Z score value of 1.24, CAR-UN belongs to the best of the industry, outperforming 87.50% of the companies in the same industry.
CAR-UN has a debt to FCF ratio of 9.46. This is a negative value and a sign of low solvency as CAR-UN would need 9.46 years to pay back of all of its debts.
CAR-UN has a Debt to FCF ratio of 9.46. This is in the better half of the industry: CAR-UN outperforms 68.75% of its industry peers.
A Debt/Equity ratio of 0.61 indicates that CAR-UN is somewhat dependend on debt financing.
With an excellent Debt to Equity ratio value of 0.61, CAR-UN belongs to the best of the industry, outperforming 87.50% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.61 | ||
| Debt/FCF | 9.46 | ||
| Altman-Z | 1.24 |
ROIC/WACC0.6
WACC6.71%
2.3 Liquidity
A Current Ratio of 0.47 indicates that CAR-UN may have some problems paying its short term obligations.
With an excellent Current ratio value of 0.47, CAR-UN belongs to the best of the industry, outperforming 81.25% of the companies in the same industry.
A Quick Ratio of 0.47 indicates that CAR-UN may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.47, CAR-UN belongs to the top of the industry, outperforming 81.25% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.47 | ||
| Quick Ratio | 0.47 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 170.89% over the past year.
Measured over the past years, CAR-UN shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -25.44% on average per year.
CAR-UN shows a small growth in Revenue. In the last year, the Revenue has grown by 4.45%.
The Revenue has been growing slightly by 7.34% on average over the past years.
EPS 1Y (TTM)170.89%
EPS 3Y-40.04%
EPS 5Y-25.44%
EPS Q2Q%-638.93%
Revenue 1Y (TTM)4.45%
Revenue growth 3Y6.04%
Revenue growth 5Y7.34%
Sales Q2Q%1.53%
3.2 Future
Based on estimates for the next years, CAR-UN will show a decrease in Earnings Per Share. The EPS will decrease by -0.19% on average per year.
CAR-UN is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -2.28% yearly.
EPS Next Y-4.89%
EPS Next 2Y-0.19%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-8.41%
Revenue Next 2Y-2.28%
Revenue Next 3YN/A
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.
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
CAR-UN is valuated quite expensively with a Price/Earnings ratio of 25.30.
CAR-UN's Price/Earnings ratio is in line with the industry average.
When comparing the Price/Earnings ratio of CAR-UN to the average of the S&P500 Index (28.18), we can say CAR-UN is valued inline with the index average.
CAR-UN is valuated rather expensively with a Price/Forward Earnings ratio of 17.03.
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.
Compared to an average S&P500 Price/Forward Earnings ratio of 20.81, CAR-UN is valued at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.3 | ||
| Fwd PE | 17.03 |
4.2 Price Multiples
87.50% of the companies in the same industry are more expensive than CAR-UN, based on the Enterprise Value to EBITDA ratio.
62.50% of the companies in the same industry are cheaper than CAR-UN, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 10.8 | ||
| EV/EBITDA | 19.31 |
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-0.19%
EPS Next 3YN/A
5. Dividend
5.1 Amount
CAR-UN has a Yearly Dividend Yield of 2.95%.
With a Dividend Yield of 2.95, CAR-UN pays less dividend than the industry average, which is at 4.64. 81.25% of the companies listed in the same industry pay a better dividend than CAR-UN!
Compared to an average S&P500 Dividend Yield of 2.45, CAR-UN pays a bit more dividend than the S&P500 average.
| 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 been paying a dividend for at least 10 years, so it has a reliable track record.
The dividend of CAR-UN decreased recently.
Dividend Growth(5Y)9.26%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
81.97% of the earnings are spent on dividend by CAR-UN. This is not a sustainable payout ratio.
CAR-UN's earnings are declining while the Dividend Rate has been growing. This means the dividend growth is most likely not sustainable.
DP81.97%
EPS Next 2Y-0.19%
EPS Next 3YN/A
TSX:CAR-UN (5/2/2025, 7:00:00 PM)
43.51
+0.27 (+0.62%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryResidential REITs
Earnings (Last)
Earnings (Next)
Inst Owners45.49%
Inst Owner ChangeN/A
Ins Owners0.22%
Ins Owner ChangeN/A
Market Cap6.97B
Analysts76.47
Price Target52.41 (20.46%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.95% |
Yearly Dividend1.48
Dividend Growth(5Y)9.26%
DP81.97%
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)-2.24%
PT rev (3m)-6.22%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0.4%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.1%
Revenue NY rev (3m)-5.99%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.3 | ||
| Fwd PE | 17.03 | ||
| P/S | 6.27 | ||
| P/FCF | 10.8 | ||
| P/OCF | 10.75 | ||
| P/B | 0.77 | ||
| P/tB | 0.77 | ||
| EV/EBITDA | 19.31 |
EPS(TTM)1.72
EY3.95%
EPS(NY)2.56
Fwd EY5.87%
FCF(TTM)4.03
FCFY9.26%
OCF(TTM)4.05
OCFY9.31%
SpS6.94
BVpS56.33
TBVpS56.33
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.88% | ||
| ROE | 3.24% | ||
| ROCE | 4.56% | ||
| ROIC | 4% | ||
| ROICexc | 4.04% | ||
| ROICexgc | 4.04% | ||
| OM | 59.26% | ||
| PM (TTM) | 26.31% | ||
| GM | 65.66% | ||
| FCFM | 58.02% |
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-Score9
Asset Turnover0.07
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.61 | ||
| Debt/FCF | 9.46 | ||
| Debt/EBITDA | 8.21 | ||
| Cap/Depr | 50.24% | ||
| Cap/Sales | 0.29% | ||
| Interest Coverage | 1.97 | ||
| Cash Conversion | 97.46% | ||
| Profit Quality | 220.55% | ||
| Current Ratio | 0.47 | ||
| Quick Ratio | 0.47 | ||
| Altman-Z | 1.24 |
F-Score9
WACC6.71%
ROIC/WACC0.6
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)170.89%
EPS 3Y-40.04%
EPS 5Y-25.44%
EPS Q2Q%-638.93%
EPS Next Y-4.89%
EPS Next 2Y-0.19%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)4.45%
Revenue growth 3Y6.04%
Revenue growth 5Y7.34%
Sales Q2Q%1.53%
Revenue Next Year-8.41%
Revenue Next 2Y-2.28%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y7.72%
EBIT growth 3Y6.95%
EBIT growth 5Y8.32%
EBIT Next Year-5.7%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y4.83%
FCF growth 3Y5.4%
FCF growth 5Y7.08%
OCF growth 1Y5.35%
OCF growth 3Y5.57%
OCF growth 5Y7.19%