CAN APARTMENT PROP REAL ESTA (CAR-UN.CA) Stock Fundamental Analysis
TSX:CAR-UN - CA1349211054 - REIT
41.06 CAD
-0.44 (-1.06%)
Overall CAR-UN gets a fundamental rating of 4 out of 10. We evaluated CAR-UN against 15 industry peers in the Residential REITs industry. CAR-UN has only an average score on both its financial health and profitability. 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.
CAR-UN had a positive operating cash flow in the past year.
Of the past 5 years CAR-UN 4 years were profitable.
In the past 5 years CAR-UN always reported a positive cash flow from operatings.
1.2 Ratios
Looking at the Return On Assets, with a value of 0.53%, CAR-UN is in line with its industry, outperforming 46.67% of the companies in the same industry.
CAR-UN has a Return On Equity of 0.91%. This is comparable to the rest of the industry: CAR-UN outperforms 46.67% of its industry peers.
CAR-UN's Return On Invested Capital of 3.81% is amongst the best of the industry. CAR-UN outperforms 93.33% of its industry peers.
The Average Return On Invested Capital over the past 3 years for CAR-UN is in line with the industry average of 2.98%.
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
The Profit Margin of CAR-UN (7.60%) 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 Operating Margin of 57.77%. This is in the better half of the industry: CAR-UN outperforms 66.67% of its industry peers.
In the last couple of years the Operating Margin of CAR-UN has remained more or less at the same level.
CAR-UN's Gross Margin of 65.18% is in line compared to the rest of the industry. CAR-UN outperforms 53.33% of 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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so CAR-UN is destroying value.
CAR-UN has less shares outstanding than it did 1 year ago.
Compared to 5 years ago, CAR-UN has less shares outstanding
Compared to 1 year ago, CAR-UN has an improved debt to assets ratio.
2.2 Solvency
CAR-UN has an Altman-Z score of 1.19. This is a bad value and indicates that CAR-UN is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of CAR-UN (1.19) is better than 93.33% of its industry peers.
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's Debt to FCF ratio of 10.02 is in line compared to the rest of the industry. CAR-UN outperforms 46.67% of its industry peers.
A Debt/Equity ratio of 0.60 indicates that CAR-UN is somewhat dependend on debt financing.
CAR-UN has a Debt to Equity ratio of 0.60. This is in the better half of the industry: CAR-UN outperforms 80.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.6 | ||
| Debt/FCF | 10.02 | ||
| Altman-Z | 1.19 |
ROIC/WACC0.55
WACC6.97%
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.
CAR-UN has a Current ratio of 0.60. This is amongst the best in the industry. CAR-UN outperforms 86.67% 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.
The Quick ratio of CAR-UN (0.60) is better than 86.67% 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.
Measured over the past years, CAR-UN shows a small growth in Revenue. The Revenue has been growing by 7.34% on average per year.
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
The Earnings Per Share is expected to grow by 0.75% on average over the next years.
CAR-UN is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -3.15% yearly.
EPS Next Y-35.34%
EPS Next 2Y-9.68%
EPS Next 3Y0.75%
EPS Next 5YN/A
Revenue Next Year-9.12%
Revenue Next 2Y-3.15%
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.
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
The Price/Earnings ratio is 82.12, which means the current valuation is very expensive for CAR-UN.
Compared to the rest of the industry, the Price/Earnings ratio of CAR-UN indicates a slightly more expensive valuation: CAR-UN is more expensive than 60.00% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 27.03. CAR-UN is valued rather expensively when compared to this.
A Price/Forward Earnings ratio of 18.73 indicates a rather expensive valuation of CAR-UN.
Compared to the rest of the industry, the Price/Forward Earnings ratio of CAR-UN indicates a slightly more expensive valuation: CAR-UN is more expensive than 60.00% of the companies listed in the same industry.
CAR-UN is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 22.54, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 82.12 | ||
| Fwd PE | 18.73 |
4.2 Price Multiples
CAR-UN's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. CAR-UN is cheaper than 86.67% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of CAR-UN indicates a slightly more expensive valuation: CAR-UN is more expensive than 66.67% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 10.67 | ||
| EV/EBITDA | 19.85 |
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
CAR-UN has a Yearly Dividend Yield of 2.95%. Purely for dividend investing, there may be better candidates out there.
CAR-UN's Dividend Yield is slightly below the industry average, which is at 4.35.
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 paid a dividend for at least 10 years, which is a reliable track record.
The dividend of CAR-UN decreased 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.
The dividend of CAR-UN is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP297.71%
EPS Next 2Y-9.68%
EPS Next 3Y0.75%
TSX:CAR-UN (9/10/2025, 7:00:00 PM)
41.06
-0.44 (-1.06%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryResidential REITs
Earnings (Last)
Earnings (Next)
Inst Owners43.24%
Inst Owner ChangeN/A
Ins Owners0.22%
Ins Owner ChangeN/A
Market Cap6.43B
Analysts74.12
Price Target51.36 (25.09%)
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)-0.3%
PT rev (3m)-0.23%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-32.02%
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)-0.96%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 82.12 | ||
| Fwd PE | 18.73 | ||
| P/S | 6.03 | ||
| P/FCF | 10.67 | ||
| P/OCF | 10.62 | ||
| P/B | 0.72 | ||
| P/tB | 0.72 | ||
| EV/EBITDA | 19.85 |
EPS(TTM)0.5
EY1.22%
EPS(NY)2.19
Fwd EY5.34%
FCF(TTM)3.85
FCFY9.37%
OCF(TTM)3.87
OCFY9.42%
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 | 1.19 |
F-Score8
WACC6.97%
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-9.12%
Revenue Next 2Y-3.15%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-4.11%
EBIT growth 3Y6.95%
EBIT growth 5Y8.32%
EBIT Next Year-5.94%
EBIT Next 3YN/A
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%