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NEXUS INDUSTRIAL REIT (NXR-UN.CA) Stock Fundamental Analysis

TSX:NXR-UN - Toronto Stock Exchange - CA65344U1012 - REIT - Currency: CAD

7.71  -0.1 (-1.28%)

Fundamental Rating

5

NXR-UN gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 38 industry peers in the Diversified REITs industry. While NXR-UN belongs to the best of the industry regarding profitability, there are concerns on its financial health. NXR-UN has a correct valuation and a medium growth rate. Finally NXR-UN also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

8

1. Profitability

1.1 Basic Checks

NXR-UN had positive earnings in the past year.
NXR-UN had a positive operating cash flow in the past year.
Each year in the past 5 years NXR-UN has been profitable.
NXR-UN had a positive operating cash flow in each of the past 5 years.
NXR-UN.CA Yearly Net Income VS EBIT VS OCF VS FCFNXR-UN.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M 100M 150M

1.2 Ratios

With an excellent Return On Assets value of 3.14%, NXR-UN belongs to the best of the industry, outperforming 89.47% of the companies in the same industry.
The Return On Equity of NXR-UN (7.44%) is better than 86.84% of its industry peers.
The Return On Invested Capital of NXR-UN (4.42%) is better than 68.42% of its industry peers.
NXR-UN had an Average Return On Invested Capital over the past 3 years of 4.81%. This is in line with the industry average of 5.66%.
Industry RankSector Rank
ROA 3.14%
ROE 7.44%
ROIC 4.42%
ROA(3y)5.38%
ROA(5y)5.34%
ROE(3y)12.8%
ROE(5y)12.74%
ROIC(3y)4.81%
ROIC(5y)N/A
NXR-UN.CA Yearly ROA, ROE, ROICNXR-UN.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 10 15

1.3 Margins

NXR-UN has a better Profit Margin (45.20%) than 89.47% of its industry peers.
In the last couple of years the Profit Margin of NXR-UN has declined.
With an excellent Operating Margin value of 77.98%, NXR-UN belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
In the last couple of years the Operating Margin of NXR-UN has grown nicely.
NXR-UN has a better Gross Margin (71.80%) than 73.68% of its industry peers.
NXR-UN's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 77.98%
PM (TTM) 45.2%
GM 71.8%
OM growth 3YN/A
OM growth 5Y5.37%
PM growth 3Y-22.67%
PM growth 5Y-6.05%
GM growth 3Y2.26%
GM growth 5Y2.55%
NXR-UN.CA Yearly Profit, Operating, Gross MarginsNXR-UN.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 60 80 100

1

2. Health

2.1 Basic Checks

NXR-UN has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
NXR-UN has more shares outstanding than it did 1 year ago.
The number of shares outstanding for NXR-UN has been increased compared to 5 years ago.
Compared to 1 year ago, NXR-UN has an improved debt to assets ratio.
NXR-UN.CA Yearly Shares OutstandingNXR-UN.CA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M
NXR-UN.CA Yearly Total Debt VS Total AssetsNXR-UN.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B 2.5B

2.2 Solvency

Based on the Altman-Z score of 0.59, we must say that NXR-UN is in the distress zone and has some risk of bankruptcy.
NXR-UN's Altman-Z score of 0.59 is in line compared to the rest of the industry. NXR-UN outperforms 57.89% of its industry peers.
NXR-UN has a debt to FCF ratio of 782.60. This is a negative value and a sign of low solvency as NXR-UN would need 782.60 years to pay back of all of its debts.
NXR-UN has a Debt to FCF ratio of 782.60. This is amonst the worse of the industry: NXR-UN underperforms 97.37% of its industry peers.
A Debt/Equity ratio of 1.06 is on the high side and indicates that NXR-UN has dependencies on debt financing.
NXR-UN's Debt to Equity ratio of 1.06 is in line compared to the rest of the industry. NXR-UN outperforms 57.89% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.06
Debt/FCF 782.6
Altman-Z 0.59
ROIC/WACC0.73
WACC6.08%
NXR-UN.CA Yearly LT Debt VS Equity VS FCFNXR-UN.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

2.3 Liquidity

A Current Ratio of 0.27 indicates that NXR-UN may have some problems paying its short term obligations.
Looking at the Current ratio, with a value of 0.27, NXR-UN is in line with its industry, outperforming 52.63% of the companies in the same industry.
NXR-UN has a Quick Ratio of 0.27. This is a bad value and indicates that NXR-UN is not financially healthy enough and could expect problems in meeting its short term obligations.
NXR-UN has a Quick ratio of 0.27. This is comparable to the rest of the industry: NXR-UN outperforms 55.26% of its industry peers.
Industry RankSector Rank
Current Ratio 0.27
Quick Ratio 0.27
NXR-UN.CA Yearly Current Assets VS Current LiabilitesNXR-UN.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M

5

3. Growth

3.1 Past

The earnings per share for NXR-UN have decreased strongly by -61.17% in the last year.
Measured over the past years, NXR-UN shows a decrease in Earnings Per Share. The EPS has been decreasing by -7.52% on average per year.
NXR-UN shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 10.56%.
The Revenue has been growing by 23.97% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)-61.17%
EPS 3Y-18.7%
EPS 5Y-7.52%
EPS Q2Q%-25.34%
Revenue 1Y (TTM)10.56%
Revenue growth 3Y28.09%
Revenue growth 5Y23.97%
Sales Q2Q%7.59%

3.2 Future

Based on estimates for the next years, NXR-UN will show a small growth in Earnings Per Share. The EPS will grow by 4.22% on average per year.
The Revenue is expected to grow by 5.71% on average over the next years.
EPS Next Y-1.72%
EPS Next 2Y4.22%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year5.78%
Revenue Next 2Y5.71%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
NXR-UN.CA Yearly Revenue VS EstimatesNXR-UN.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 50M 100M 150M
NXR-UN.CA Yearly EPS VS EstimatesNXR-UN.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2022 2023 2024 2025 2026 0.5 1 1.5

5

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 8.97 indicates a reasonable valuation of NXR-UN.
Based on the Price/Earnings ratio, NXR-UN is valued cheaper than 92.11% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 27.48, NXR-UN is valued rather cheaply.
NXR-UN is valuated correctly with a Price/Forward Earnings ratio of 12.12.
Based on the Price/Forward Earnings ratio, NXR-UN is valued a bit cheaper than the industry average as 71.05% of the companies are valued more expensively.
Compared to an average S&P500 Price/Forward Earnings ratio of 36.52, NXR-UN is valued rather cheaply.
Industry RankSector Rank
PE 8.97
Fwd PE 12.12
NXR-UN.CA Price Earnings VS Forward Price EarningsNXR-UN.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

NXR-UN's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. NXR-UN is cheaper than 81.58% of the companies in the same industry.
NXR-UN's Price/Free Cash Flow ratio is rather expensive when compared to the industry. NXR-UN is more expensive than 94.74% of the companies in the same industry.
Industry RankSector Rank
P/FCF 303.49
EV/EBITDA 14.06
NXR-UN.CA Per share dataNXR-UN.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

4.3 Compensation for Growth

NXR-UN has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y4.22%
EPS Next 3YN/A

7

5. Dividend

5.1 Amount

NXR-UN has a Yearly Dividend Yield of 6.69%, which is a nice return.
NXR-UN's Dividend Yield is comparable with the industry average which is at 7.95.
Compared to an average S&P500 Dividend Yield of 2.34, NXR-UN pays a better dividend.
Industry RankSector Rank
Dividend Yield 6.69%

5.2 History

The dividend of NXR-UN has a limited annual growth rate of 0.74%.
NXR-UN has been paying a dividend for at least 10 years, so it has a reliable track record.
NXR-UN has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)0.74%
Div Incr Years1
Div Non Decr Years4
NXR-UN.CA Yearly Dividends per shareNXR-UN.CA Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5 2 2.5

5.3 Sustainability

53.61% of the earnings are spent on dividend by NXR-UN. This is a bit on the high side, but may be sustainable.
The dividend of NXR-UN is growing, but earnings are growing more, so the dividend growth is sustainable.
DP53.61%
EPS Next 2Y4.22%
EPS Next 3YN/A
NXR-UN.CA Yearly Income VS Free CF VS DividendNXR-UN.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M
NXR-UN.CA Dividend Payout.NXR-UN.CA Dividend Payout, showing the Payout Ratio.NXR-UN.CA Dividend Payout.PayoutRetained Earnings

NEXUS INDUSTRIAL REIT

TSX:NXR-UN (7/17/2025, 7:00:00 PM)

7.71

-0.1 (-1.28%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)05-15 2025-05-15
Earnings (Next)08-08 2025-08-08
Inst Owners13.11%
Inst Owner ChangeN/A
Ins Owners1.13%
Ins Owner ChangeN/A
Market Cap548.41M
Analysts70.77
Price Target8.19 (6.23%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 6.69%
Yearly Dividend0.44
Dividend Growth(5Y)0.74%
DP53.61%
Div Incr Years1
Div Non Decr Years4
Ex-Date06-30 2025-06-30 (0.05333)
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)-1.37%
PT rev (3m)-7.07%
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%
Revenue NY rev (3m)-1.76%
Valuation
Industry RankSector Rank
PE 8.97
Fwd PE 12.12
P/S 3.07
P/FCF 303.49
P/OCF 32.01
P/B 0.5
P/tB 0.5
EV/EBITDA 14.06
EPS(TTM)0.86
EY11.15%
EPS(NY)0.64
Fwd EY8.25%
FCF(TTM)0.03
FCFY0.33%
OCF(TTM)0.24
OCFY3.12%
SpS2.51
BVpS15.27
TBVpS15.27
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 3.14%
ROE 7.44%
ROCE 6.14%
ROIC 4.42%
ROICexc 4.42%
ROICexgc 4.42%
OM 77.98%
PM (TTM) 45.2%
GM 71.8%
FCFM 1.01%
ROA(3y)5.38%
ROA(5y)5.34%
ROE(3y)12.8%
ROE(5y)12.74%
ROIC(3y)4.81%
ROIC(5y)N/A
ROICexc(3y)4.83%
ROICexc(5y)N/A
ROICexgc(3y)4.83%
ROICexgc(5y)N/A
ROCE(3y)6.67%
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5Y-1.22%
ROICexc growth 3YN/A
ROICexc growth 5Y-1.22%
OM growth 3YN/A
OM growth 5Y5.37%
PM growth 3Y-22.67%
PM growth 5Y-6.05%
GM growth 3Y2.26%
GM growth 5Y2.55%
F-Score4
Asset Turnover0.07
Health
Industry RankSector Rank
Debt/Equity 1.06
Debt/FCF 782.6
Debt/EBITDA 8.26
Cap/Depr 12666.1%
Cap/Sales 8.57%
Interest Coverage 1.97
Cash Conversion 12.27%
Profit Quality 2.24%
Current Ratio 0.27
Quick Ratio 0.27
Altman-Z 0.59
F-Score4
WACC6.08%
ROIC/WACC0.73
Cap/Depr(3y)15016.5%
Cap/Depr(5y)11461%
Cap/Sales(3y)9.43%
Cap/Sales(5y)8.79%
Profit Quality(3y)24.1%
Profit Quality(5y)29.28%
High Growth Momentum
Growth
EPS 1Y (TTM)-61.17%
EPS 3Y-18.7%
EPS 5Y-7.52%
EPS Q2Q%-25.34%
EPS Next Y-1.72%
EPS Next 2Y4.22%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)10.56%
Revenue growth 3Y28.09%
Revenue growth 5Y23.97%
Sales Q2Q%7.59%
Revenue Next Year5.78%
Revenue Next 2Y5.71%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-7.6%
EBIT growth 3YN/A
EBIT growth 5Y30.63%
EBIT Next Year-2.7%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-94.21%
FCF growth 3Y7.95%
FCF growth 5Y5.04%
OCF growth 1Y-61.33%
OCF growth 3Y15.94%
OCF growth 5Y10.78%