DREAM INDUSTRIAL REAL ESTATE (DIR-UN.CA) Stock Fundamental Analysis
TSX:DIR-UN - Toronto Stock Exchange - CA26153W1095 - REIT - Currency: CAD
Taking everything into account, DIR-UN scores 6 out of 10 in our fundamental rating. DIR-UN was compared to 37 industry peers in the Diversified REITs industry. DIR-UN scores excellent on profitability, but there are concerns on its financial health. DIR-UN has a decent growth rate and is not valued too expensively. Finally DIR-UN also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
In the past year DIR-UN was profitable.
DIR-UN had a positive operating cash flow in the past year.
DIR-UN had positive earnings in each of the past 5 years.
DIR-UN had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
Looking at the Return On Assets, with a value of 2.86%, DIR-UN belongs to the top of the industry, outperforming 83.78% of the companies in the same industry.
With a decent Return On Equity value of 4.83%, DIR-UN is doing good in the industry, outperforming 70.27% of the companies in the same industry.
DIR-UN has a worse Return On Invested Capital (3.05%) than 78.38% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for DIR-UN is below the industry average of 5.69%.
The last Return On Invested Capital (3.05%) for DIR-UN is above the 3 year average (2.81%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.86% | ||
| ROE | 4.83% | ||
| ROIC | 3.05% |
ROA(3y)4.74%
ROA(5y)5.99%
ROE(3y)7.87%
ROE(5y)10.3%
ROIC(3y)2.81%
ROIC(5y)2.7%
1.3 Margins
Looking at the Profit Margin, with a value of 49.16%, DIR-UN belongs to the top of the industry, outperforming 94.59% of the companies in the same industry.
DIR-UN's Profit Margin has declined in the last couple of years.
DIR-UN has a Operating Margin of 67.18%. This is amongst the best in the industry. DIR-UN outperforms 91.89% of its industry peers.
DIR-UN's Operating Margin has improved in the last couple of years.
Looking at the Gross Margin, with a value of 76.38%, DIR-UN belongs to the top of the industry, outperforming 89.19% of the companies in the same industry.
In the last couple of years the Gross Margin of DIR-UN has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 67.18% | ||
| PM (TTM) | 49.16% | ||
| GM | 76.38% |
OM growth 3Y2.22%
OM growth 5Y2.97%
PM growth 3Y-35.75%
PM growth 5Y-9.53%
GM growth 3Y0.46%
GM growth 5Y1.38%
2. Health
2.1 Basic Checks
The number of shares outstanding for DIR-UN has been increased compared to 1 year ago.
Compared to 5 years ago, DIR-UN has more shares outstanding
The debt/assets ratio for DIR-UN is higher compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 0.92, we must say that DIR-UN is in the distress zone and has some risk of bankruptcy.
DIR-UN has a Altman-Z score of 0.92. This is amongst the best in the industry. DIR-UN outperforms 86.49% of its industry peers.
DIR-UN has a debt to FCF ratio of 9.70. This is a negative value and a sign of low solvency as DIR-UN would need 9.70 years to pay back of all of its debts.
DIR-UN has a better Debt to FCF ratio (9.70) than 89.19% of its industry peers.
A Debt/Equity ratio of 0.52 indicates that DIR-UN is somewhat dependend on debt financing.
DIR-UN has a Debt to Equity ratio of 0.52. This is amongst the best in the industry. DIR-UN outperforms 91.89% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.52 | ||
| Debt/FCF | 9.7 | ||
| Altman-Z | 0.92 |
ROIC/WACCN/A
WACCN/A
2.3 Liquidity
DIR-UN has a Current Ratio of 0.12. This is a bad value and indicates that DIR-UN is not financially healthy enough and could expect problems in meeting its short term obligations.
The Current ratio of DIR-UN (0.12) is worse than 72.97% of its industry peers.
A Quick Ratio of 0.12 indicates that DIR-UN may have some problems paying its short term obligations.
DIR-UN's Quick ratio of 0.12 is on the low side compared to the rest of the industry. DIR-UN is outperformed by 72.97% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.12 | ||
| Quick Ratio | 0.12 |
3. Growth
3.1 Past
DIR-UN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 14.68%, which is quite good.
Measured over the past years, DIR-UN shows a decrease in Earnings Per Share. The EPS has been decreasing by -7.45% on average per year.
DIR-UN shows a small growth in Revenue. In the last year, the Revenue has grown by 6.21%.
The Revenue has been growing by 19.01% on average over the past years. This is quite good.
EPS 1Y (TTM)14.68%
EPS 3Y-31.68%
EPS 5Y-7.45%
EPS Q2Q%-37.36%
Revenue 1Y (TTM)6.21%
Revenue growth 3Y17.17%
Revenue growth 5Y19.01%
Sales Q2Q%5.94%
3.2 Future
The Earnings Per Share is expected to grow by 20.60% on average over the next years. This is a very strong growth
DIR-UN is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 9.15% yearly.
EPS Next Y37.66%
EPS Next 2Y20.6%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year8.71%
Revenue Next 2Y9.15%
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.
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
The Price/Earnings ratio is 14.91, which indicates a correct valuation of DIR-UN.
DIR-UN's Price/Earnings ratio is a bit cheaper when compared to the industry. DIR-UN is cheaper than 78.38% of the companies in the same industry.
DIR-UN's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 26.59.
Based on the Price/Forward Earnings ratio of 10.55, the valuation of DIR-UN can be described as reasonable.
DIR-UN's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. DIR-UN is cheaper than 78.38% of the companies in the same industry.
DIR-UN is valuated cheaply when we compare the Price/Forward Earnings ratio to 22.39, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.91 | ||
| Fwd PE | 10.55 |
4.2 Price Multiples
The rest of the industry has a similar Price/Free Cash Flow ratio as DIR-UN.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 11.14 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
DIR-UN's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
DIR-UN has a very decent profitability rating, which may justify a higher PE ratio.
DIR-UN's earnings are expected to grow with 20.60% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.4
PEG (5Y)N/A
EPS Next 2Y20.6%
EPS Next 3YN/A
5. Dividend
5.1 Amount
DIR-UN has a Yearly Dividend Yield of 5.00%, which is a nice return.
Compared to an average industry Dividend Yield of 7.94, DIR-UN is paying slightly less dividend.
Compared to an average S&P500 Dividend Yield of 2.39, DIR-UN pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5% |
5.2 History
The dividend of DIR-UN has a limited annual growth rate of 3.03%.
DIR-UN has been paying a dividend for at least 10 years, so it has a reliable track record.
DIR-UN has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)3.03%
Div Incr Years1
Div Non Decr Years12
5.3 Sustainability
61.08% of the earnings are spent on dividend by DIR-UN. This is not a sustainable payout ratio.
The dividend of DIR-UN is growing, but earnings are growing more, so the dividend growth is sustainable.
DP61.08%
EPS Next 2Y20.6%
EPS Next 3YN/A
TSX:DIR-UN (6/10/2025, 7:00:00 PM)
11.93
+0.28 (+2.4%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners31.14%
Inst Owner ChangeN/A
Ins Owners0.15%
Ins Owner ChangeN/A
Market Cap3.40B
Analysts82.67
Price Target13.86 (16.18%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5% |
Yearly Dividend0.49
Dividend Growth(5Y)3.03%
DP61.08%
Div Incr Years1
Div Non Decr Years12
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)-5.83%
PT rev (3m)-13.71%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-1.85%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.34%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.91 | ||
| Fwd PE | 10.55 | ||
| P/S | 7.19 | ||
| P/FCF | 11.14 | ||
| P/OCF | 11.14 | ||
| P/B | 0.71 | ||
| P/tB | 0.71 | ||
| EV/EBITDA | N/A |
EPS(TTM)0.8
EY6.71%
EPS(NY)1.13
Fwd EY9.48%
FCF(TTM)1.07
FCFY8.98%
OCF(TTM)1.07
OCFY8.98%
SpS1.66
BVpS16.9
TBVpS16.9
PEG (NY)0.4
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.86% | ||
| ROE | 4.83% | ||
| ROCE | 4.24% | ||
| ROIC | 3.05% | ||
| ROICexc | 3.07% | ||
| ROICexgc | 3.07% | ||
| OM | 67.18% | ||
| PM (TTM) | 49.16% | ||
| GM | 76.38% | ||
| FCFM | 64.55% |
ROA(3y)4.74%
ROA(5y)5.99%
ROE(3y)7.87%
ROE(5y)10.3%
ROIC(3y)2.81%
ROIC(5y)2.7%
ROICexc(3y)2.84%
ROICexc(5y)2.78%
ROICexgc(3y)2.84%
ROICexgc(5y)2.78%
ROCE(3y)3.91%
ROCE(5y)3.75%
ROICexcg growth 3Y12.88%
ROICexcg growth 5Y-1.14%
ROICexc growth 3Y12.88%
ROICexc growth 5Y-1.14%
OM growth 3Y2.22%
OM growth 5Y2.97%
PM growth 3Y-35.75%
PM growth 5Y-9.53%
GM growth 3Y0.46%
GM growth 5Y1.38%
F-Score7
Asset Turnover0.06
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.52 | ||
| Debt/FCF | 9.7 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 4.83 | ||
| Cash Conversion | N/A | ||
| Profit Quality | 131.32% | ||
| Current Ratio | 0.12 | ||
| Quick Ratio | 0.12 | ||
| Altman-Z | 0.92 |
F-Score7
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)144.93%
Profit Quality(5y)106.14%
High Growth Momentum
Growth
EPS 1Y (TTM)14.68%
EPS 3Y-31.68%
EPS 5Y-7.45%
EPS Q2Q%-37.36%
EPS Next Y37.66%
EPS Next 2Y20.6%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)6.21%
Revenue growth 3Y17.17%
Revenue growth 5Y19.01%
Sales Q2Q%5.94%
Revenue Next Year8.71%
Revenue Next 2Y9.15%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y9.18%
EBIT growth 3Y19.77%
EBIT growth 5Y22.54%
EBIT Next Year18.41%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y23.11%
FCF growth 3Y19.32%
FCF growth 5Y19.83%
OCF growth 1Y23.12%
OCF growth 3Y19.32%
OCF growth 5Y19.81%