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CROMBIE REAL ESTATE INVESTME (CRR-UN.CA) Stock Fundamental Analysis

TSX:CRR-UN - Toronto Stock Exchange - CA2271071094 - REIT - Currency: CAD

14.09  +0.18 (+1.29%)

Fundamental Rating

3

Taking everything into account, CRR-UN scores 3 out of 10 in our fundamental rating. CRR-UN was compared to 42 industry peers in the Diversified REITs industry. While CRR-UN is still in line with the averages on profitability rating, there are concerns on its financial health. CRR-UN has a expensive valuation and it also scores bad on growth.


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

CRR-UN had negative earnings in the past year.
CRR-UN had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: CRR-UN reported negative net income in multiple years.
The reported operating cash flow has been mixed in the past 5 years: CRR-UN reported negative operating cash flow in multiple years.
CRR-UN.CA Yearly Net Income VS EBIT VS OCF VS FCFCRR-UN.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 100M 200M

1.2 Ratios

The Return On Assets of CRR-UN (-1.22%) is comparable to the rest of the industry.
With a Return On Equity value of -2.78%, CRR-UN perfoms like the industry average, outperforming 57.14% of the companies in the same industry.
With a decent Return On Invested Capital value of 5.36%, CRR-UN is doing good in the industry, outperforming 78.57% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for CRR-UN is in line with the industry average of 5.51%.
The last Return On Invested Capital (5.36%) for CRR-UN is above the 3 year average (5.06%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA -1.22%
ROE -2.78%
ROIC 5.36%
ROA(3y)-0.31%
ROA(5y)0.29%
ROE(3y)-0.7%
ROE(5y)0.83%
ROIC(3y)5.06%
ROIC(5y)4.96%
CRR-UN.CA Yearly ROA, ROE, ROICCRR-UN.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 5 10

1.3 Margins

CRR-UN has a Operating Margin of 59.80%. This is in the better half of the industry: CRR-UN outperforms 73.81% of its industry peers.
CRR-UN's Operating Margin has declined in the last couple of years.
Looking at the Gross Margin, with a value of 64.59%, CRR-UN is in the better half of the industry, outperforming 61.90% of the companies in the same industry.
CRR-UN's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 59.8%
PM (TTM) N/A
GM 64.59%
OM growth 3Y-0.24%
OM growth 5Y-1.74%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.58%
GM growth 5Y-1.54%
CRR-UN.CA Yearly Profit, Operating, Gross MarginsCRR-UN.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20 40 60

2

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so CRR-UN is destroying value.
CRR-UN has more shares outstanding than it did 1 year ago.
CRR-UN has more shares outstanding than it did 5 years ago.
CRR-UN has a worse debt/assets ratio than last year.
CRR-UN.CA Yearly Shares OutstandingCRR-UN.CA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M
CRR-UN.CA Yearly Total Debt VS Total AssetsCRR-UN.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B 4B

2.2 Solvency

CRR-UN has a debt to FCF ratio of 9.09. This is a negative value and a sign of low solvency as CRR-UN would need 9.09 years to pay back of all of its debts.
With an excellent Debt to FCF ratio value of 9.09, CRR-UN belongs to the best of the industry, outperforming 97.62% of the companies in the same industry.
A Debt/Equity ratio of 1.04 is on the high side and indicates that CRR-UN has dependencies on debt financing.
CRR-UN has a Debt to Equity ratio (1.04) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 1.04
Debt/FCF 9.09
Altman-Z N/A
ROIC/WACC0.96
WACC5.58%
CRR-UN.CA Yearly LT Debt VS Equity VS FCFCRR-UN.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 500M 1B 1.5B 2B

2.3 Liquidity

CRR-UN has a Current Ratio of 0.14. This is a bad value and indicates that CRR-UN is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 0.14, CRR-UN is doing worse than 64.29% of the companies in the same industry.
A Quick Ratio of 0.14 indicates that CRR-UN may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.14, CRR-UN is doing worse than 61.90% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.14
Quick Ratio 0.14
CRR-UN.CA Yearly Current Assets VS Current LiabilitesCRR-UN.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 100M 200M 300M 400M

3

3. Growth

3.1 Past

The earnings per share for CRR-UN have decreased strongly by -2202.54% in the last year.
The Revenue has grown by 10.48% in the past year. This is quite good.
Measured over the past years, CRR-UN shows a small growth in Revenue. The Revenue has been growing by 1.40% on average per year.
EPS 1Y (TTM)-2202.54%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-56.78%
Revenue 1Y (TTM)10.48%
Revenue growth 3Y4.56%
Revenue growth 5Y1.4%
Sales Q2Q%10.26%

3.2 Future

Based on estimates for the next years, CRR-UN will show a small growth in Earnings Per Share. The EPS will grow by 7.85% on average per year.
CRR-UN is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.08% yearly.
EPS Next Y14.55%
EPS Next 2Y8.71%
EPS Next 3Y7.85%
EPS Next 5YN/A
Revenue Next Year11.06%
Revenue Next 2Y6.64%
Revenue Next 3Y5.08%
Revenue Next 5YN/A

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
CRR-UN.CA Yearly Revenue VS EstimatesCRR-UN.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 100M 200M 300M 400M 500M
CRR-UN.CA Yearly EPS VS EstimatesCRR-UN.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.2 0.4 0.6 0.8 1

3

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for CRR-UN. In the last year negative earnings were reported.
Based on the Price/Forward Earnings ratio of 21.46, the valuation of CRR-UN can be described as rather expensive.
CRR-UN's Price/Forward Earnings is on the same level as the industry average.
Compared to an average S&P500 Price/Forward Earnings ratio of 23.58, CRR-UN is valued at the same level.
Industry RankSector Rank
PE N/A
Fwd PE 21.46
CRR-UN.CA Price Earnings VS Forward Price EarningsCRR-UN.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 200 400 600

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of CRR-UN indicates a rather cheap valuation: CRR-UN is cheaper than 97.62% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, CRR-UN is valued cheaper than 80.95% of the companies in the same industry.
Industry RankSector Rank
P/FCF 6.33
EV/EBITDA 10.43
CRR-UN.CA Per share dataCRR-UN.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15

4.3 Compensation for Growth

The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y8.71%
EPS Next 3Y7.85%

4

5. Dividend

5.1 Amount

CRR-UN has a Yearly Dividend Yield of 5.73%, which is a nice return.
CRR-UN's Dividend Yield is slightly below the industry average, which is at 7.99.
Compared to an average S&P500 Dividend Yield of 2.30, CRR-UN pays a better dividend.
Industry RankSector Rank
Dividend Yield 5.73%

5.2 History

CRR-UN has paid a dividend for at least 10 years, which is a reliable track record.
CRR-UN has decreased its dividend recently.
Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years1
CRR-UN.CA Yearly Dividends per shareCRR-UN.CA Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8

5.3 Sustainability

The earnings of CRR-UN are negative and hence is the payout ratio. CRR-UN will probably not be able to sustain this dividend level.
DP-242.83%
EPS Next 2Y8.71%
EPS Next 3Y7.85%
CRR-UN.CA Yearly Income VS Free CF VS DividendCRR-UN.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 100M 200M

CROMBIE REAL ESTATE INVESTME

TSX:CRR-UN (2/14/2025, 7:00:00 PM)

14.09

+0.18 (+1.29%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)11-06 2024-11-06
Earnings (Next)02-19 2025-02-19/amc
Inst Owners25.37%
Inst Owner ChangeN/A
Ins Owners0.25%
Ins Owner ChangeN/A
Market Cap1.53B
Analysts76.92
Price Target16.41 (16.47%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.73%
Yearly Dividend0.68
Dividend Growth(5Y)N/A
DP-242.83%
Div Incr Years0
Div Non Decr Years1
Ex-Date01-31 2025-01-31 (0.07417)
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)-0.52%
PT rev (3m)0%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 21.46
P/S 3.3
P/FCF 6.33
P/OCF 6.02
P/B 0.84
P/tB 0.84
EV/EBITDA 10.43
EPS(TTM)-0.31
EYN/A
EPS(NY)0.66
Fwd EY4.66%
FCF(TTM)2.22
FCFY15.79%
OCF(TTM)2.34
OCFY16.61%
SpS4.27
BVpS16.73
TBVpS16.73
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -1.22%
ROE -2.78%
ROCE 7.45%
ROIC 5.36%
ROICexc 5.36%
ROICexgc 5.36%
OM 59.8%
PM (TTM) N/A
GM 64.59%
FCFM 52.06%
ROA(3y)-0.31%
ROA(5y)0.29%
ROE(3y)-0.7%
ROE(5y)0.83%
ROIC(3y)5.06%
ROIC(5y)4.96%
ROICexc(3y)5.06%
ROICexc(5y)4.98%
ROICexgc(3y)5.12%
ROICexgc(5y)5.03%
ROCE(3y)7.03%
ROCE(5y)6.89%
ROICexcg growth 3Y2.29%
ROICexcg growth 5Y-0.47%
ROICexc growth 3Y2.34%
ROICexc growth 5Y-0.67%
OM growth 3Y-0.24%
OM growth 5Y-1.74%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.58%
GM growth 5Y-1.54%
F-Score4
Asset Turnover0.11
Health
Industry RankSector Rank
Debt/Equity 1.04
Debt/FCF 9.09
Debt/EBITDA 5.27
Cap/Depr 15.79%
Cap/Sales 2.72%
Interest Coverage 3.47
Cash Conversion 71.15%
Profit Quality N/A
Current Ratio 0.14
Quick Ratio 0.14
Altman-Z N/A
F-Score4
WACC5.58%
ROIC/WACC0.96
Cap/Depr(3y)6.44%
Cap/Depr(5y)N/A
Cap/Sales(3y)1.15%
Cap/Sales(5y)1.02%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-2202.54%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-56.78%
EPS Next Y14.55%
EPS Next 2Y8.71%
EPS Next 3Y7.85%
EPS Next 5YN/A
Revenue 1Y (TTM)10.48%
Revenue growth 3Y4.56%
Revenue growth 5Y1.4%
Sales Q2Q%10.26%
Revenue Next Year11.06%
Revenue Next 2Y6.64%
Revenue Next 3Y5.08%
Revenue Next 5YN/A
EBIT growth 1Y10.42%
EBIT growth 3Y4.31%
EBIT growth 5Y-0.37%
EBIT Next Year14.24%
EBIT Next 3Y6.77%
EBIT Next 5YN/A
FCF growth 1Y1.12%
FCF growth 3YN/A
FCF growth 5Y47.54%
OCF growth 1Y5.72%
OCF growth 3YN/A
OCF growth 5Y34.62%