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

NYSE:GRP.U • CA3874372053

59.19 USD
-0.45 (-0.75%)
Last: Dec 31, 2025, 08:04 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership News

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

Fundamental Rating

6

Overall GRP.U gets a fundamental rating of 6 out of 10. We evaluated GRP.U against 122 industry peers in the Diversified REITs industry. GRP.U scores excellent on profitability, but there are some minor concerns on its financial health. GRP.U has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

7

1. GRP.U Profitability Analysis

1.1 Basic Checks

  • In the past year GRP.U was profitable.
  • GRP.U had a positive operating cash flow in the past year.
  • GRP.U had positive earnings in each of the past 5 years.
  • GRP.U had a positive operating cash flow in each of the past 5 years.
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 better Return On Assets (3.02%) than 70.08% of its industry peers.
  • GRP.U has a better Return On Equity (5.28%) than 66.14% of its industry peers.
  • GRP.U's Return On Invested Capital of 3.86% is fine compared to the rest of the industry. GRP.U outperforms 72.44% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for GRP.U is in line with the industry average of 3.10%.
  • The last Return On Invested Capital (3.86%) for GRP.U is above the 3 year average (3.46%), which is a sign of increasing profitability.
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

  • With an excellent Profit Margin value of 48.08%, GRP.U belongs to the best of the industry, outperforming 97.64% of the companies in the same industry.
  • In the last couple of years the Profit Margin of GRP.U has declined.
  • The Operating Margin of GRP.U (75.49%) is better than 100.00% of its industry peers.
  • GRP.U's Operating Margin has been stable in the last couple of years.
  • 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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ROAROEROICOperating and Profit MarginShow most profitable peers

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.
  • Compared to 5 years ago, GRP.U has more shares outstanding
  • Compared to 1 year ago, GRP.U has an improved debt to assets ratio.
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.
  • The Debt to FCF ratio of GRP.U is 8.52, which is on the high side as it means it would take GRP.U, 8.52 years of fcf income to pay off 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.
  • GRP.U has a better Debt to Equity ratio (0.56) than 87.40% of its industry peers.
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.
  • The Current ratio of GRP.U (1.82) is better than 78.74% of its industry peers.
  • A Quick Ratio of 1.82 indicates that GRP.U should not have too much problems paying its short term obligations.
  • GRP.U has a better Quick ratio (1.82) than 78.74% of its industry peers.
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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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. GRP.U Growth Analysis

3.1 Past

  • GRP.U shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 9.59%, which is quite good.
  • GRP.U shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -6.06% yearly.
  • GRP.U shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 9.81%.
  • Measured over the past years, GRP.U shows a quite strong growth in Revenue. The Revenue has been growing by 15.77% on average per year.
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

  • The Earnings Per Share is expected to grow by 6.59% on average over the next years.
  • The Revenue is expected to grow by 5.62% on average over the next years.
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.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
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

  • GRP.U is valuated correctly with a Price/Earnings ratio of 14.19.
  • Based on the Price/Earnings ratio, GRP.U is valued cheaply inside the industry as 88.19% of the companies are valued more expensively.
  • GRP.U is valuated rather cheaply when we compare the Price/Earnings ratio to 26.29, which is the current average of the S&P500 Index.
  • GRP.U is valuated correctly with a Price/Forward Earnings ratio of 12.83.
  • Based on the Price/Forward Earnings ratio, GRP.U is valued cheaper than 96.85% of the companies in the same industry.
  • GRP.U's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 24.57.
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

  • 70.87% of the companies in the same industry are cheaper than GRP.U, based on the Enterprise Value to EBITDA ratio.
  • Based on the Price/Free Cash Flow ratio, GRP.U is valued cheaper than 85.83% of the companies 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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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. GRP.U Dividend Analysis

5.1 Amount

  • GRP.U has a Yearly Dividend Yield of 3.94%. Purely for dividend investing, there may be better candidates out there.
  • GRP.U's Dividend Yield is slightly below the industry average, which is at 7.04.
  • Compared to an average S&P500 Dividend Yield of 1.82, GRP.U pays a better dividend.
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

  • GRP.U pays out 71.73% of its income as dividend. 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 Change0.56%
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 FAQ

What is the fundamental rating for GRP.U stock?

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


Can you provide the valuation status for GRANITE REAL ESTATE INVESTME?

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


How profitable is GRANITE REAL ESTATE INVESTME (GRP.U) stock?

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


Can you provide the PE and PB ratios for GRP.U stock?

The Price/Earnings (PE) ratio for GRANITE REAL ESTATE INVESTME (GRP.U) is 14.19 and the Price/Book (PB) ratio is 0.9.


What is the financial health of GRANITE REAL ESTATE INVESTME (GRP.U) stock?

The financial health rating of GRANITE REAL ESTATE INVESTME (GRP.U) is 6 / 10.