GRANITE REAL ESTATE INVESTME (GRT-UN.CA) Stock Fundamental Analysis
Canada - TSX:GRT-UN - CA3874372053 - REIT
77.08 CAD
-0.2 (-0.26%)
We assign a fundamental rating of 6 out of 10 to GRT-UN. GRT-UN was compared to 37 industry peers in the Diversified REITs industry. While GRT-UN has a great profitability rating, there are some minor concerns on its financial health. GRT-UN is not valued too expensively and it also shows a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year GRT-UN was profitable.
GRT-UN had a positive operating cash flow in the past year.
Each year in the past 5 years GRT-UN has been profitable.
GRT-UN had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
GRT-UN has a Return On Assets of 3.02%. This is amongst the best in the industry. GRT-UN outperforms 84.21% of its industry peers.
Looking at the Return On Equity, with a value of 5.28%, GRT-UN is in the better half of the industry, outperforming 68.42% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 3.52%, GRT-UN is in line with its industry, outperforming 47.37% of the companies in the same industry.
GRT-UN had an Average Return On Invested Capital over the past 3 years of 3.16%. This is in line with the industry average of 4.98%.
The last Return On Invested Capital (3.52%) for GRT-UN is above the 3 year average (3.16%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.02% | ||
| ROE | 5.28% | ||
| ROIC | 3.52% |
ROA(3y)2.31%
ROA(5y)5.72%
ROE(3y)3.91%
ROE(5y)9.46%
ROIC(3y)3.16%
ROIC(5y)2.98%
1.3 Margins
GRT-UN's Profit Margin of 48.08% is amongst the best of the industry. GRT-UN outperforms 92.11% of its industry peers.
GRT-UN's Profit Margin has declined in the last couple of years.
GRT-UN's Operating Margin of 75.49% is amongst the best of the industry. GRT-UN outperforms 100.00% of its industry peers.
GRT-UN's Operating Margin has been stable in the last couple of years.
GRT-UN has a better Gross Margin (82.21%) than 94.74% of its industry peers.
In the last couple of years the Gross Margin of GRT-UN has remained more or less at the same level.
| Industry Rank | Sector 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%
2. Health
2.1 Basic Checks
GRT-UN has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
GRT-UN has less shares outstanding than it did 1 year ago.
Compared to 5 years ago, GRT-UN has more shares outstanding
Compared to 1 year ago, GRT-UN has an improved debt to assets ratio.
2.2 Solvency
GRT-UN has an Altman-Z score of 1.19. This is a bad value and indicates that GRT-UN is not financially healthy and even has some risk of bankruptcy.
GRT-UN has a Altman-Z score of 1.19. This is amongst the best in the industry. GRT-UN outperforms 86.84% of its industry peers.
GRT-UN has a debt to FCF ratio of 8.52. This is a slightly negative value and a sign of low solvency as GRT-UN would need 8.52 years to pay back of all of its debts.
The Debt to FCF ratio of GRT-UN (8.52) is better than 97.37% of its industry peers.
A Debt/Equity ratio of 0.56 indicates that GRT-UN is somewhat dependend on debt financing.
The Debt to Equity ratio of GRT-UN (0.56) is better than 89.47% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.56 | ||
| Debt/FCF | 8.52 | ||
| Altman-Z | 1.19 |
ROIC/WACC0.64
WACC5.47%
2.3 Liquidity
A Current Ratio of 1.82 indicates that GRT-UN should not have too much problems paying its short term obligations.
Looking at the Current ratio, with a value of 1.82, GRT-UN belongs to the top of the industry, outperforming 92.11% of the companies in the same industry.
A Quick Ratio of 1.82 indicates that GRT-UN should not have too much problems paying its short term obligations.
With an excellent Quick ratio value of 1.82, GRT-UN belongs to the best of the industry, outperforming 92.11% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.82 | ||
| Quick Ratio | 1.82 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 9.59% over the past year.
The Earnings Per Share has been decreasing by -6.06% on average over the past years.
GRT-UN shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 9.81%.
Measured over the past years, GRT-UN 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 6.48% on average over the next years.
GRT-UN is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 6.06% yearly.
EPS Next Y-4.81%
EPS Next 2Y7.36%
EPS Next 3Y6.48%
EPS Next 5YN/A
Revenue Next Year7.88%
Revenue Next 2Y5.79%
Revenue Next 3Y6.06%
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
GRT-UN is valuated correctly with a Price/Earnings ratio of 13.31.
Compared to the rest of the industry, the Price/Earnings ratio of GRT-UN indicates a somewhat cheap valuation: GRT-UN is cheaper than 78.95% of the companies listed in the same industry.
GRT-UN's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 25.89.
A Price/Forward Earnings ratio of 12.08 indicates a correct valuation of GRT-UN.
Based on the Price/Forward Earnings ratio, GRT-UN is valued a bit cheaper than 73.68% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 34.59. GRT-UN is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.31 | ||
| Fwd PE | 12.08 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of GRT-UN indicates a somewhat cheap valuation: GRT-UN is cheaper than 76.32% of the companies listed in the same industry.
The rest of the industry has a similar Price/Free Cash Flow ratio as GRT-UN.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 12.43 | ||
| EV/EBITDA | 16.85 |
4.3 Compensation for Growth
GRT-UN has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y7.36%
EPS Next 3Y6.48%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 3.94%, GRT-UN has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 7.95, GRT-UN's dividend is way lower than its industry peers. On top of this 86.84% of the companies listed in the same industry pay a better dividend than GRT-UN!
GRT-UN's Dividend Yield is rather good when compared to the S&P500 average which is at 2.44.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.94% |
5.2 History
The dividend of GRT-UN has a limited annual growth rate of 1.78%.
GRT-UN has paid a dividend for at least 10 years, which is a reliable track record.
GRT-UN has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)1.78%
Div Incr Years14
Div Non Decr Years14
5.3 Sustainability
GRT-UN pays out 71.73% of its income as dividend. This is not a sustainable payout ratio.
GRT-UN's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP71.73%
EPS Next 2Y7.36%
EPS Next 3Y6.48%
TSX:GRT-UN (11/14/2025, 7:00:00 PM)
77.08
-0.2 (-0.26%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners73.65%
Inst Owner ChangeN/A
Ins Owners0.67%
Ins Owner ChangeN/A
Market Cap4.67B
Revenue(TTM)604.98M
Net Income(TTM)290.86M
Analysts83.08
Price Target89.02 (15.49%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.94% |
Yearly Dividend3.3
Dividend Growth(5Y)1.78%
DP71.73%
Div Incr Years14
Div Non Decr Years14
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)0.58%
PT rev (3m)5.44%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-9.37%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.12%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.31 | ||
| Fwd PE | 12.08 | ||
| P/S | 7.72 | ||
| P/FCF | 12.43 | ||
| P/OCF | 12.43 | ||
| P/B | 0.85 | ||
| P/tB | 0.85 | ||
| EV/EBITDA | 16.85 |
EPS(TTM)5.79
EY7.51%
EPS(NY)6.38
Fwd EY8.28%
FCF(TTM)6.2
FCFY8.04%
OCF(TTM)6.2
OCFY8.04%
SpS9.98
BVpS90.88
TBVpS90.88
PEG (NY)N/A
PEG (5Y)N/A
Graham Number108.81
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.02% | ||
| ROE | 5.28% | ||
| ROCE | 4.89% | ||
| ROIC | 3.52% | ||
| ROICexc | 3.57% | ||
| ROICexgc | 3.57% | ||
| 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)3.16%
ROIC(5y)2.98%
ROICexc(3y)3.2%
ROICexc(5y)3.12%
ROICexgc(3y)3.2%
ROICexgc(5y)3.12%
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 Rank | Sector 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 | 1.19 |
F-Score6
WACC5.47%
ROIC/WACC0.64
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-4.81%
EPS Next 2Y7.36%
EPS Next 3Y6.48%
EPS Next 5YN/A
Revenue 1Y (TTM)9.81%
Revenue growth 3Y13.09%
Revenue growth 5Y15.77%
Sales Q2Q%8.04%
Revenue Next Year7.88%
Revenue Next 2Y5.79%
Revenue Next 3Y6.06%
Revenue Next 5YN/A
EBIT growth 1Y8.36%
EBIT growth 3Y14.12%
EBIT growth 5Y16.14%
EBIT Next Year7.97%
EBIT Next 3Y6.37%
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 / GRT-UN.CA FAQ
Can you provide the ChartMill fundamental rating for GRANITE REAL ESTATE INVESTME?
ChartMill assigns a fundamental rating of 6 / 10 to GRT-UN.CA.
What is the valuation status of GRANITE REAL ESTATE INVESTME (GRT-UN.CA) stock?
ChartMill assigns a valuation rating of 5 / 10 to GRANITE REAL ESTATE INVESTME (GRT-UN.CA). This can be considered as Fairly Valued.
How profitable is GRANITE REAL ESTATE INVESTME (GRT-UN.CA) stock?
GRANITE REAL ESTATE INVESTME (GRT-UN.CA) has a profitability rating of 7 / 10.
What is the valuation of GRANITE REAL ESTATE INVESTME based on its PE and PB ratios?
The Price/Earnings (PE) ratio for GRANITE REAL ESTATE INVESTME (GRT-UN.CA) is 13.31 and the Price/Book (PB) ratio is 0.85.
Can you provide the expected EPS growth for GRT-UN stock?
The Earnings per Share (EPS) of GRANITE REAL ESTATE INVESTME (GRT-UN.CA) is expected to decline by -4.81% in the next year.