GRANITE REAL ESTATE INVESTME (GRP.U) Fundamental Analysis & Valuation

NYSE:GRP.U • CA3874372053

Current stock price

59.19 USD
-0.45 (-0.75%)
Last:

This GRP.U fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

7

1. GRP.U Profitability Analysis

1.1 Basic Checks

  • GRP.U had positive earnings in the past year.
  • In the past year GRP.U had a positive cash flow from operations.
  • GRP.U had positive earnings in each of the past 5 years.
  • Each year in the past 5 years GRP.U had a positive operating cash flow.
GRP.U Yearly Net Income VS EBIT VS OCF VS FCFGRP.U Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

1.2 Ratios

  • GRP.U has a Return On Assets of 3.02%. This is in the better half of the industry: GRP.U outperforms 70.08% of its industry peers.
  • GRP.U has a Return On Equity of 5.28%. This is in the better half of the industry: GRP.U outperforms 66.14% of its industry peers.
  • The Return On Invested Capital of GRP.U (3.86%) is better than 72.44% of its industry peers.
  • GRP.U had an Average Return On Invested Capital over the past 3 years of 3.46%. This is in line with the industry average of 3.11%.
  • The 3 year average ROIC (3.46%) for GRP.U is below the current ROIC(3.86%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 3.02%
ROE 5.28%
ROIC 3.86%
ROA(3y)2.31%
ROA(5y)5.72%
ROE(3y)3.91%
ROE(5y)9.46%
ROIC(3y)3.46%
ROIC(5y)3.27%
GRP.U Yearly ROA, ROE, ROICGRP.U Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20

1.3 Margins

  • The Profit Margin of GRP.U (48.08%) is better than 97.64% of its industry peers.
  • GRP.U's Profit Margin has declined in the last couple of years.
  • GRP.U's Operating Margin of 75.49% is amongst the best of the industry. GRP.U outperforms 100.00% of its industry peers.
  • In the last couple of years the Operating Margin of GRP.U has remained more or less at the same level.
  • GRP.U's Gross Margin of 82.21% is amongst the best of the industry. GRP.U outperforms 82.68% of its industry peers.
  • In the last couple of years the Gross Margin of GRP.U has remained more or less at the same level.
Industry RankSector Rank
OM 75.49%
PM (TTM) 48.08%
GM 82.21%
OM growth 3Y0.91%
OM growth 5Y0.32%
PM growth 3Y-42.48%
PM growth 5Y-14.61%
GM growth 3Y-0.64%
GM growth 5Y-0.97%
GRP.U Yearly Profit, Operating, Gross MarginsGRP.U Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 100 200 300

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6

2. GRP.U Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), GRP.U is destroying value.
  • The number of shares outstanding for GRP.U has been reduced compared to 1 year ago.
  • The number of shares outstanding for GRP.U has been increased compared to 5 years ago.
  • The debt/assets ratio for GRP.U has been reduced compared to a year ago.
GRP.U Yearly Shares OutstandingGRP.U Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M
GRP.U Yearly Total Debt VS Total AssetsGRP.U Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B

2.2 Solvency

  • Based on the Altman-Z score of 1.24, we must say that GRP.U is in the distress zone and has some risk of bankruptcy.
  • GRP.U's Altman-Z score of 1.24 is amongst the best of the industry. GRP.U outperforms 84.25% of its industry peers.
  • GRP.U has a debt to FCF ratio of 8.52. This is a slightly negative value and a sign of low solvency as GRP.U would need 8.52 years to pay back of all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 8.52, GRP.U belongs to the top of the industry, outperforming 93.70% of the companies in the same industry.
  • A Debt/Equity ratio of 0.56 indicates that GRP.U is somewhat dependend on debt financing.
  • With an excellent Debt to Equity ratio value of 0.56, GRP.U belongs to the best of the industry, outperforming 87.40% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.56
Debt/FCF 8.52
Altman-Z 1.24
ROIC/WACC0.73
WACC5.26%
GRP.U Yearly LT Debt VS Equity VS FCFGRP.U Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B 5B

2.3 Liquidity

  • GRP.U has a Current Ratio of 1.82. This is a normal value and indicates that GRP.U is financially healthy and should not expect problems in meeting its short term obligations.
  • GRP.U's Current ratio of 1.82 is fine compared to the rest of the industry. GRP.U outperforms 78.74% of its industry peers.
  • GRP.U has a Quick Ratio of 1.82. This is a normal value and indicates that GRP.U is financially healthy and should not expect problems in meeting its short term obligations.
  • With a decent Quick ratio value of 1.82, GRP.U is doing good in the industry, outperforming 78.74% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.82
Quick Ratio 1.82
GRP.U Yearly Current Assets VS Current LiabilitesGRP.U Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M

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5

3. GRP.U Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an nice 9.59% over the past year.
  • GRP.U shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -6.06% yearly.
  • Looking at the last year, GRP.U shows a quite strong growth in Revenue. The Revenue has grown by 9.81% in the last year.
  • GRP.U shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 15.77% yearly.
EPS 1Y (TTM)9.59%
EPS 3Y-34.68%
EPS 5Y-6.06%
EPS Q2Q%10.34%
Revenue 1Y (TTM)9.81%
Revenue growth 3Y13.09%
Revenue growth 5Y15.77%
Sales Q2Q%8.04%

3.2 Future

  • Based on estimates for the next years, GRP.U will show a small growth in Earnings Per Share. The EPS will grow by 6.59% on average per year.
  • GRP.U is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.62% yearly.
EPS Next Y-11.01%
EPS Next 2Y7.53%
EPS Next 3Y6.59%
EPS Next 5YN/A
Revenue Next Year8.37%
Revenue Next 2Y6.36%
Revenue Next 3Y5.62%
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.
GRP.U Yearly Revenue VS EstimatesGRP.U Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 200M 400M 600M
GRP.U Yearly EPS VS EstimatesGRP.U Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 5 10 15

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5

4. GRP.U Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 14.19, the valuation of GRP.U can be described as correct.
  • Compared to the rest of the industry, the Price/Earnings ratio of GRP.U indicates a rather cheap valuation: GRP.U is cheaper than 88.19% of the companies listed in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 26.21, GRP.U is valued a bit cheaper.
  • Based on the Price/Forward Earnings ratio of 12.83, the valuation of GRP.U can be described as correct.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of GRP.U indicates a rather cheap valuation: GRP.U is cheaper than 96.85% of the companies listed in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 23.10. GRP.U is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 14.19
Fwd PE 12.83
GRP.U Price Earnings VS Forward Price EarningsGRP.U Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of GRP.U indicates a slightly more expensive valuation: GRP.U is more expensive than 70.87% of the companies listed in the same industry.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of GRP.U indicates a rather cheap valuation: GRP.U is cheaper than 85.83% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 13.26
EV/EBITDA 17.52
GRP.U Per share dataGRP.U EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60

4.3 Compensation for Growth

  • The decent profitability rating of GRP.U may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y7.53%
EPS Next 3Y6.59%

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5

5. GRP.U Dividend Analysis

5.1 Amount

  • GRP.U has a Yearly Dividend Yield of 3.94%.
  • Compared to an average industry Dividend Yield of 8.03, GRP.U is paying slightly less dividend.
  • GRP.U's Dividend Yield is rather good when compared to the S&P500 average which is at 1.89.
Industry RankSector Rank
Dividend Yield 3.94%

5.2 History

  • The dividend of GRP.U has a limited annual growth rate of 1.78%.
  • GRP.U has paid a dividend for at least 10 years, which is a reliable track record.
  • GRP.U has decreased its dividend in the last 3 years.
Dividend Growth(5Y)1.78%
Div Incr Years2
Div Non Decr Years2
GRP.U Yearly Dividends per shareGRP.U Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1 2 3

5.3 Sustainability

  • 71.73% of the earnings are spent on dividend by GRP.U. This is not a sustainable payout ratio.
  • The dividend of GRP.U is growing, but earnings are growing more, so the dividend growth is sustainable.
DP71.73%
EPS Next 2Y7.53%
EPS Next 3Y6.59%
GRP.U Yearly Income VS Free CF VS DividendGRP.U Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B
GRP.U Dividend Payout.GRP.U Dividend Payout, showing the Payout Ratio.GRP.U Dividend Payout.PayoutRetained Earnings

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GRP.U Fundamentals: All Metrics, Ratios and Statistics

GRANITE REAL ESTATE INVESTME

NYSE:GRP.U (12/31/2025, 8:04:05 PM)

59.19

-0.45 (-0.75%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)11-05
Earnings (Next)02-25
Inst Owners75%
Inst Owner Change0.35%
Ins Owners0.68%
Ins Owner ChangeN/A
Market Cap3.59B
Revenue(TTM)604.98M
Net Income(TTM)290.86M
Analysts83.08
Price Target66.63 (12.57%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.94%
Yearly Dividend2.37
Dividend Growth(5Y)1.78%
DP71.73%
Div Incr Years2
Div Non Decr Years2
Ex-DateN/A
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)3.91%
PT rev (3m)4.5%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-6.51%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.45%
Valuation
Industry RankSector Rank
PE 14.19
Fwd PE 12.83
P/S 8.23
P/FCF 13.26
P/OCF 13.25
P/B 0.9
P/tB 0.9
EV/EBITDA 17.52
EPS(TTM)4.17
EY7.05%
EPS(NY)4.61
Fwd EY7.79%
FCF(TTM)4.47
FCFY7.54%
OCF(TTM)4.47
OCFY7.55%
SpS7.19
BVpS65.46
TBVpS65.46
PEG (NY)N/A
PEG (5Y)N/A
Graham Number78.37
Profitability
Industry RankSector Rank
ROA 3.02%
ROE 5.28%
ROCE 4.89%
ROIC 3.86%
ROICexc 3.91%
ROICexgc 3.91%
OM 75.49%
PM (TTM) 48.08%
GM 82.21%
FCFM 62.09%
ROA(3y)2.31%
ROA(5y)5.72%
ROE(3y)3.91%
ROE(5y)9.46%
ROIC(3y)3.46%
ROIC(5y)3.27%
ROICexc(3y)3.51%
ROICexc(5y)3.43%
ROICexgc(3y)3.51%
ROICexgc(5y)3.43%
ROCE(3y)4.38%
ROCE(5y)4.14%
ROICexgc growth 3Y8.35%
ROICexgc growth 5Y-0.02%
ROICexc growth 3Y8.35%
ROICexc growth 5Y-0.02%
OM growth 3Y0.91%
OM growth 5Y0.32%
PM growth 3Y-42.48%
PM growth 5Y-14.61%
GM growth 3Y-0.64%
GM growth 5Y-0.97%
F-Score6
Asset Turnover0.06
Health
Industry RankSector Rank
Debt/Equity 0.56
Debt/FCF 8.52
Debt/EBITDA 6.77
Cap/Depr 7.49%
Cap/Sales 0.02%
Interest Coverage 5.84
Cash Conversion 82.05%
Profit Quality 129.14%
Current Ratio 1.82
Quick Ratio 1.82
Altman-Z 1.24
F-Score6
WACC5.26%
ROIC/WACC0.73
Cap/Depr(3y)27.37%
Cap/Depr(5y)53.98%
Cap/Sales(3y)0.08%
Cap/Sales(5y)0.18%
Profit Quality(3y)166.81%
Profit Quality(5y)115.37%
High Growth Momentum
Growth
EPS 1Y (TTM)9.59%
EPS 3Y-34.68%
EPS 5Y-6.06%
EPS Q2Q%10.34%
EPS Next Y-11.01%
EPS Next 2Y7.53%
EPS Next 3Y6.59%
EPS Next 5YN/A
Revenue 1Y (TTM)9.81%
Revenue growth 3Y13.09%
Revenue growth 5Y15.77%
Sales Q2Q%8.04%
Revenue Next Year8.37%
Revenue Next 2Y6.36%
Revenue Next 3Y5.62%
Revenue Next 5YN/A
EBIT growth 1Y8.36%
EBIT growth 3Y14.12%
EBIT growth 5Y16.14%
EBIT Next Year49.67%
EBIT Next 3Y18.78%
EBIT Next 5YN/A
FCF growth 1Y24.21%
FCF growth 3Y8.95%
FCF growth 5Y13.06%
OCF growth 1Y24.16%
OCF growth 3Y8.88%
OCF growth 5Y13.05%

GRANITE REAL ESTATE INVESTME / GRP.U Fundamental Analysis FAQ

What is the fundamental rating for GRP.U stock?

ChartMill assigns a fundamental rating of 6 / 10 to GRP.U.


What is the valuation status of GRANITE REAL ESTATE INVESTME (GRP.U) stock?

ChartMill assigns a valuation rating of 5 / 10 to GRANITE REAL ESTATE INVESTME (GRP.U). This can be considered as Fairly Valued.


Can you provide the profitability details for GRANITE REAL ESTATE INVESTME?

GRANITE REAL ESTATE INVESTME (GRP.U) has a profitability rating of 7 / 10.


What is the earnings growth outlook for GRANITE REAL ESTATE INVESTME?

The Earnings per Share (EPS) of GRANITE REAL ESTATE INVESTME (GRP.U) is expected to decline by -11.01% in the next year.


Is the dividend of GRANITE REAL ESTATE INVESTME sustainable?

The dividend rating of GRANITE REAL ESTATE INVESTME (GRP.U) is 5 / 10 and the dividend payout ratio is 71.73%.