DREAM OFFICE REAL ESTATE INV (D-UN.CA) Stock Fundamental Analysis
TSX:D-UN - Toronto Stock Exchange - CA26153P2035 - REIT - Currency: CAD
D-UN gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 37 industry peers in the Diversified REITs industry. D-UN has a bad profitability rating. Also its financial health evaluation is rather negative. D-UN has a valuation in line with the averages, but on the other hand it scores bad on growth.
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
D-UN's Return On Assets of -6.15% is on the low side compared to the rest of the industry. D-UN is outperformed by 78.38% of its industry peers.
The Return On Equity of D-UN (-14.38%) is worse than 70.27% of its industry peers.
With a Return On Invested Capital value of 1.99%, D-UN is not doing good in the industry: 91.89% of the companies in the same industry are doing better.
The Average Return On Invested Capital over the past 3 years for D-UN is below the industry average of 5.79%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -6.15% | ||
| ROE | -14.38% | ||
| ROIC | 1.99% |
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
D-UN has a worse Operating Margin (32.50%) than 86.49% of its industry peers.
In the last couple of years the Operating Margin of D-UN has declined.
D-UN's Gross Margin of 54.04% is on the low side compared to the rest of the industry. D-UN is outperformed by 64.86% of its industry peers.
In the last couple of years the Gross Margin of D-UN has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 32.5% | ||
| PM (TTM) | N/A | ||
| GM | 54.04% |
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
D-UN has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for D-UN has been reduced compared to 1 year ago.
The number of shares outstanding for D-UN has been reduced compared to 5 years ago.
Compared to 1 year ago, D-UN has a worse debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of -0.22, we must say that D-UN is in the distress zone and has some risk of bankruptcy.
D-UN has a Altman-Z score of -0.22. This is amonst the worse of the industry: D-UN underperforms 83.78% of its industry peers.
The Debt to FCF ratio of D-UN is 17.63, which is on the high side as it means it would take D-UN, 17.63 years of fcf income to pay off all of its debts.
D-UN has a Debt to FCF ratio (17.63) which is in line with its industry peers.
D-UN has a Debt/Equity ratio of 1.17. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 1.17, D-UN is in line with its industry, outperforming 51.35% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.17 | ||
| Debt/FCF | 17.63 | ||
| Altman-Z | -0.22 |
ROIC/WACC0.37
WACC5.41%
2.3 Liquidity
A Current Ratio of 0.30 indicates that D-UN may have some problems paying its short term obligations.
Looking at the Current ratio, with a value of 0.30, D-UN is in line with its industry, outperforming 56.76% of the companies in the same industry.
D-UN has a Quick Ratio of 0.30. 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's Quick ratio of 0.30 is in line compared to the rest of the industry. D-UN outperforms 59.46% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.3 | ||
| Quick Ratio | 0.3 |
3. Growth
3.1 Past
The earnings per share for D-UN have decreased strongly by -167.58% in the last year.
D-UN shows a small growth in Revenue. In the last year, the Revenue has grown by 2.52%.
D-UN shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -3.05% yearly.
EPS 1Y (TTM)-167.58%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-380.73%
Revenue 1Y (TTM)2.52%
Revenue growth 3Y0.03%
Revenue growth 5Y-3.05%
Sales Q2Q%-1.17%
3.2 Future
The Earnings Per Share is expected to grow by 52.38% on average over the next years. This is a very strong growth
The Revenue is expected to decrease by -0.09% on average over the next years.
EPS Next Y126.71%
EPS Next 2Y52.38%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-2.72%
Revenue Next 2Y-0.61%
Revenue Next 3Y-0.09%
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.
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 11.66, the valuation of D-UN can be described as very reasonable.
Compared to the rest of the industry, the Price/Forward Earnings ratio of D-UN indicates a somewhat cheap valuation: D-UN is cheaper than 75.68% of the companies listed in the same industry.
D-UN is valuated cheaply when we compare the Price/Forward Earnings ratio to 36.28, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 11.66 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of D-UN indicates a somewhat cheap valuation: D-UN is cheaper than 64.86% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, D-UN is valued cheaper than 94.59% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 3.82 | ||
| EV/EBITDA | 23.93 |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as D-UN's earnings are expected to grow with 52.38% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y52.38%
EPS Next 3YN/A
5. Dividend
5.1 Amount
D-UN has a Yearly Dividend Yield of 6.98%, which is a nice return.
D-UN's Dividend Yield is comparable with the industry average which is at 7.90.
Compared to an average S&P500 Dividend Yield of 2.40, D-UN pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.98% |
5.2 History
The dividend of D-UN decreases each year by -4.93%.
D-UN has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)-4.93%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
The earnings of D-UN are negative and hence is the payout ratio. D-UN will probably not be able to sustain this dividend level.
DP-10.89%
EPS Next 2Y52.38%
EPS Next 3YN/A
TSX:D-UN (8/5/2025, 7:00:00 PM)
16.77
+0.35 (+2.13%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners1.79%
Inst Owner ChangeN/A
Ins Owners23.07%
Ins Owner ChangeN/A
Market Cap274.36M
Analysts49.41
Price Target17.28 (3.04%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.98% |
Yearly Dividend0.78
Dividend Growth(5Y)-4.93%
DP-10.89%
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)0%
PT rev (3m)-9.9%
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)0.9%
Revenue NY rev (3m)0.9%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 11.66 | ||
| P/S | 1.4 | ||
| P/FCF | 3.82 | ||
| P/OCF | 3.82 | ||
| P/B | 0.26 | ||
| P/tB | 0.26 | ||
| EV/EBITDA | 23.93 |
EPS(TTM)-7.77
EYN/A
EPS(NY)1.44
Fwd EY8.58%
FCF(TTM)4.39
FCFY26.2%
OCF(TTM)4.39
OCFY26.2%
SpS11.95
BVpS63.74
TBVpS63.74
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -6.15% | ||
| ROE | -14.38% | ||
| ROCE | 2.77% | ||
| ROIC | 1.99% | ||
| ROICexc | 2.01% | ||
| ROICexgc | 2.01% | ||
| OM | 32.5% | ||
| PM (TTM) | N/A | ||
| GM | 54.04% | ||
| FCFM | 36.75% |
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%
ROICexcg growth 3Y-1.86%
ROICexcg 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-Score6
Asset Turnover0.08
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.17 | ||
| Debt/FCF | 17.63 | ||
| Debt/EBITDA | 19.22 | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 0.98 | ||
| Cash Conversion | 112.9% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.3 | ||
| Quick Ratio | 0.3 | ||
| Altman-Z | -0.22 |
F-Score6
WACC5.41%
ROIC/WACC0.37
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)-167.58%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-380.73%
EPS Next Y126.71%
EPS Next 2Y52.38%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)2.52%
Revenue growth 3Y0.03%
Revenue growth 5Y-3.05%
Sales Q2Q%-1.17%
Revenue Next Year-2.72%
Revenue Next 2Y-0.61%
Revenue Next 3Y-0.09%
Revenue Next 5YN/A
EBIT growth 1Y-30.19%
EBIT growth 3Y-11.78%
EBIT growth 5Y-10.47%
EBIT Next Year49.87%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y5.61%
FCF growth 3Y-8.92%
FCF growth 5Y-9.94%
OCF growth 1Y5.61%
OCF growth 3Y-8.92%
OCF growth 5Y-9.94%