DREAM OFFICE REAL ESTATE INV (D-UN.CA) Stock Fundamental Analysis
Canada - Toronto Stock Exchange - TSX:D-UN - CA26153P2035 - REIT
17.18 CAD
-0.16 (-0.92%)
Taking everything into account, D-UN scores 3 out of 10 in our fundamental rating. D-UN was compared to 38 industry peers in the Diversified REITs industry. Both the profitability and financial health of D-UN have multiple concerns. D-UN has a valuation in line with the averages, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
In the past year D-UN has reported negative net income.
In the past year D-UN had a positive cash flow from operations.
In multiple years D-UN reported negative net income over the last 5 years.
D-UN had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
With a Return On Assets value of -6.75%, D-UN is not doing good in the industry: 76.32% of the companies in the same industry are doing better.
D-UN has a worse Return On Equity (-16.66%) than 76.32% of its industry peers.
D-UN has a Return On Invested Capital of 2.82%. This is in the lower half of the industry: D-UN underperforms 76.32% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for D-UN is below the industry average of 5.49%.
The last Return On Invested Capital (2.82%) for D-UN is above the 3 year average (2.50%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -6.75% | ||
| ROE | -16.66% | ||
| ROIC | 2.82% |
ROA(3y)-1.63%
ROA(5y)1.26%
ROE(3y)-4%
ROE(5y)1.96%
ROIC(3y)2.5%
ROIC(5y)2.51%
1.3 Margins
With a Operating Margin value of 44.98%, D-UN is not doing good in the industry: 65.79% of the companies in the same industry are doing better.
D-UN's Operating Margin has declined in the last couple of years.
D-UN has a worse Gross Margin (53.94%) than 60.53% of its industry peers.
D-UN's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 44.98% | ||
| PM (TTM) | N/A | ||
| GM | 53.94% |
OM growth 3Y-11.8%
OM growth 5Y-7.65%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.34%
GM growth 5Y-0.58%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so D-UN is destroying value.
D-UN has about the same amout of shares outstanding than it did 1 year ago.
D-UN has less shares outstanding than it did 5 years ago.
Compared to 1 year ago, D-UN has a worse debt to assets ratio.
2.2 Solvency
D-UN has an Altman-Z score of -0.28. This is a bad value and indicates that D-UN is not financially healthy and even has some risk of bankruptcy.
D-UN has a worse Altman-Z score (-0.28) than 81.58% of its industry peers.
The Debt to FCF ratio of D-UN is 16.72, which is on the high side as it means it would take D-UN, 16.72 years of fcf income to pay off all of its debts.
D-UN has a Debt to FCF ratio (16.72) which is in line with its industry peers.
A Debt/Equity ratio of 1.30 is on the high side and indicates that D-UN has dependencies on debt financing.
D-UN's Debt to Equity ratio of 1.30 is in line compared to the rest of the industry. D-UN outperforms 44.74% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.3 | ||
| Debt/FCF | 16.72 | ||
| Altman-Z | -0.28 |
ROIC/WACC0.52
WACC5.41%
2.3 Liquidity
A Current Ratio of 0.23 indicates that D-UN may have some problems paying its short term obligations.
D-UN's Current ratio of 0.23 is in line compared to the rest of the industry. D-UN outperforms 55.26% of its industry peers.
D-UN has a Quick Ratio of 0.23. This is a bad value and indicates that D-UN is not financially healthy enough and could expect problems in meeting its short term obligations.
D-UN has a Quick ratio (0.23) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.23 | ||
| Quick Ratio | 0.23 |
3. Growth
3.1 Past
D-UN shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -19.91%.
The Revenue has decreased by -2.64% in the past year.
D-UN shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -3.05% yearly.
EPS 1Y (TTM)-19.91%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%20.24%
Revenue 1Y (TTM)-2.64%
Revenue growth 3Y0.03%
Revenue growth 5Y-3.05%
Sales Q2Q%-5.84%
3.2 Future
The Earnings Per Share is expected to grow by 32.85% on average over the next years. This is a very strong growth
The Revenue is expected to decrease by -0.03% on average over the next years.
EPS Next Y26.71%
EPS Next 2Y51.7%
EPS Next 3Y32.85%
EPS Next 5YN/A
Revenue Next Year-5.2%
Revenue Next 2Y-1.58%
Revenue Next 3Y-0.03%
Revenue Next 5YN/A
3.3 Evolution
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
D-UN reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
With a Price/Forward Earnings ratio of 12.76, D-UN is valued correctly.
D-UN's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. D-UN is cheaper than 65.79% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of D-UN to the average of the S&P500 Index (36.21), we can say D-UN is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 12.76 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, D-UN is valued a bit cheaper than the industry average as 71.05% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, D-UN is valued cheaper than 94.74% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 3.81 | ||
| EV/EBITDA | 17.65 |
4.3 Compensation for Growth
D-UN's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
D-UN's earnings are expected to grow with 32.85% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y51.7%
EPS Next 3Y32.85%
5. Dividend
5.1 Amount
D-UN has a Yearly Dividend Yield of 6.98%, which is a nice return.
Compared to an average industry Dividend Yield of 7.95, D-UN has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.32, D-UN pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.98% |
5.2 History
The dividend of D-UN has a limited annual growth rate of 3.10%.
D-UN has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)3.1%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
D-UN has negative earnings and hence a negative payout ratio. The dividend may be in danger.
The dividend of D-UN is growing, but earnings are growing more, so the dividend growth is sustainable.
DP-10.56%
EPS Next 2Y51.7%
EPS Next 3Y32.85%
TSX:D-UN (12/1/2025, 7:00:00 PM)
17.18
-0.16 (-0.92%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners1.81%
Inst Owner ChangeN/A
Ins Owners23.07%
Ins Owner ChangeN/A
Market Cap281.24M
Revenue(TTM)188.52M
Net Income(TTM)-154.84M
Analysts69.33
Price Target19.72 (14.78%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.98% |
Yearly Dividend1.17
Dividend Growth(5Y)3.1%
DP-10.56%
Div Incr Years0
Div Non Decr Years0
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)3.73%
PT rev (3m)11.9%
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)-0.48%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 12.76 | ||
| P/S | 1.49 | ||
| P/FCF | 3.81 | ||
| P/OCF | 3.81 | ||
| P/B | 0.3 | ||
| P/tB | 0.3 | ||
| EV/EBITDA | 17.65 |
EPS(TTM)-7.99
EYN/A
EPS(NY)1.35
Fwd EY7.84%
FCF(TTM)4.51
FCFY26.26%
OCF(TTM)4.51
OCFY26.26%
SpS11.52
BVpS56.76
TBVpS56.76
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -6.75% | ||
| ROE | -16.66% | ||
| ROCE | 3.92% | ||
| ROIC | 2.82% | ||
| ROICexc | 2.85% | ||
| ROICexgc | 2.85% | ||
| OM | 44.98% | ||
| PM (TTM) | N/A | ||
| GM | 53.94% | ||
| FCFM | 39.18% |
ROA(3y)-1.63%
ROA(5y)1.26%
ROE(3y)-4%
ROE(5y)1.96%
ROIC(3y)2.5%
ROIC(5y)2.51%
ROICexc(3y)2.51%
ROICexc(5y)2.53%
ROICexgc(3y)2.51%
ROICexgc(5y)2.53%
ROCE(3y)3.47%
ROCE(5y)3.49%
ROICexgc growth 3Y-1.86%
ROICexgc growth 5Y-7.02%
ROICexc growth 3Y-1.86%
ROICexc growth 5Y-7.01%
OM growth 3Y-11.8%
OM growth 5Y-7.65%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.34%
GM growth 5Y-0.58%
F-Score4
Asset Turnover0.08
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.3 | ||
| Debt/FCF | 16.72 | ||
| Debt/EBITDA | 14.21 | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 1.3 | ||
| Cash Conversion | 87.09% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.23 | ||
| Quick Ratio | 0.23 | ||
| Altman-Z | -0.28 |
F-Score4
WACC5.41%
ROIC/WACC0.52
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)-19.91%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%20.24%
EPS Next Y26.71%
EPS Next 2Y51.7%
EPS Next 3Y32.85%
EPS Next 5YN/A
Revenue 1Y (TTM)-2.64%
Revenue growth 3Y0.03%
Revenue growth 5Y-3.05%
Sales Q2Q%-5.84%
Revenue Next Year-5.2%
Revenue Next 2Y-1.58%
Revenue Next 3Y-0.03%
Revenue Next 5YN/A
EBIT growth 1Y22.43%
EBIT growth 3Y-11.78%
EBIT growth 5Y-10.47%
EBIT Next Year51.75%
EBIT Next 3Y12.98%
EBIT Next 5YN/A
FCF growth 1Y18.37%
FCF growth 3Y-8.92%
FCF growth 5Y-9.94%
OCF growth 1Y18.37%
OCF growth 3Y-8.92%
OCF growth 5Y-9.94%
DREAM OFFICE REAL ESTATE INV / D-UN.CA FAQ
Can you provide the ChartMill fundamental rating for DREAM OFFICE REAL ESTATE INV?
ChartMill assigns a fundamental rating of 3 / 10 to D-UN.CA.
Can you provide the valuation status for DREAM OFFICE REAL ESTATE INV?
ChartMill assigns a valuation rating of 6 / 10 to DREAM OFFICE REAL ESTATE INV (D-UN.CA). This can be considered as Fairly Valued.
Can you provide the profitability details for DREAM OFFICE REAL ESTATE INV?
DREAM OFFICE REAL ESTATE INV (D-UN.CA) has a profitability rating of 2 / 10.
Can you provide the expected EPS growth for D-UN stock?
The Earnings per Share (EPS) of DREAM OFFICE REAL ESTATE INV (D-UN.CA) is expected to grow by 26.71% in the next year.