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

Canada - TSX:NXR-UN - CA65344U1012 - REIT

7.98 CAD
+0.01 (+0.13%)
Last: 10/22/2025, 7:00:00 PM
Fundamental Rating

4

NXR-UN gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 35 industry peers in the Diversified REITs industry. There are concerns on the financial health of NXR-UN while its profitability can be described as average. NXR-UN is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

NXR-UN had positive earnings in the past year.
In the past year NXR-UN had a positive cash flow from operations.
In the past 5 years NXR-UN has always 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

NXR-UN has a Return On Assets (1.14%) which is in line with its industry peers.
NXR-UN has a Return On Equity (2.75%) which is in line with its industry peers.
Looking at the Return On Invested Capital, with a value of 3.15%, NXR-UN is doing worse than 68.57% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for NXR-UN is in line with the industry average of 5.08%.
Industry RankSector Rank
ROA 1.14%
ROE 2.75%
ROIC 3.15%
ROA(3y)5.38%
ROA(5y)5.35%
ROE(3y)12.81%
ROE(5y)12.75%
ROIC(3y)4.8%
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 (16.60%) than 62.86% of its industry peers.
In the last couple of years the Profit Margin of NXR-UN has declined.
With a decent Operating Margin value of 54.85%, NXR-UN is doing good in the industry, outperforming 62.86% of the companies in the same industry.
NXR-UN's Operating Margin has improved in the last couple of years.
NXR-UN has a Gross Margin of 72.87%. This is in the better half of the industry: NXR-UN outperforms 77.14% of its industry peers.
NXR-UN's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 54.85%
PM (TTM) 16.6%
GM 72.87%
OM growth 3YN/A
OM growth 5Y5.36%
PM growth 3Y-22.63%
PM growth 5Y-6.03%
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

2

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so NXR-UN is destroying value.
Compared to 1 year ago, NXR-UN has more shares outstanding
Compared to 5 years ago, NXR-UN has more shares outstanding
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 0.50, we must say that NXR-UN is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of NXR-UN (0.50) is comparable to the rest of the industry.
The Debt to FCF ratio of NXR-UN is 140.81, which is on the high side as it means it would take NXR-UN, 140.81 years of fcf income to pay off all of its debts.
NXR-UN has a worse Debt to FCF ratio (140.81) than 88.57% of its industry peers.
NXR-UN has a Debt/Equity ratio of 1.05. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 1.05, NXR-UN is in the better half of the industry, outperforming 62.86% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.05
Debt/FCF 140.81
Altman-Z 0.5
ROIC/WACC0.54
WACC5.85%
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 0.20 indicates that NXR-UN may have some problems paying its short term obligations.
NXR-UN's Current ratio of 0.20 is in line compared to the rest of the industry. NXR-UN outperforms 45.71% of its industry peers.
A Quick Ratio of 0.20 indicates that NXR-UN may have some problems paying its short term obligations.
NXR-UN has a Quick ratio of 0.20. This is comparable to the rest of the industry: NXR-UN outperforms 48.57% of its industry peers.
Industry RankSector Rank
Current Ratio 0.2
Quick Ratio 0.2
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

4

3. Growth

3.1 Past

NXR-UN shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -82.90%.
NXR-UN shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -7.47% yearly.
The Revenue has been growing slightly by 5.79% in the past year.
The Revenue has been growing by 23.97% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)-82.9%
EPS 3Y-18.62%
EPS 5Y-7.47%
EPS Q2Q%-117.02%
Revenue 1Y (TTM)5.79%
Revenue growth 3Y28.09%
Revenue growth 5Y23.97%
Sales Q2Q%-4.35%

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 4.40% on average per year.
The Revenue is expected to grow by 3.64% on average over the next years.
EPS Next Y-3.45%
EPS Next 2Y4.22%
EPS Next 3Y4.4%
EPS Next 5YN/A
Revenue Next Year0.63%
Revenue Next 2Y3.83%
Revenue Next 3Y3.64%
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 2027 50M 100M 150M
NXR-UN.CA Yearly EPS VS EstimatesNXR-UN.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2022 2023 2024 2025 2026 2027 0.5 1 1.5

3

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 25.74, NXR-UN can be considered very expensive at the moment.
Based on the Price/Earnings ratio, NXR-UN is valued a bit cheaper than the industry average as 65.71% of the companies are valued more expensively.
Compared to an average S&P500 Price/Earnings ratio of 27.57, NXR-UN is valued at the same level.
The Price/Forward Earnings ratio is 12.54, which indicates a correct valuation of NXR-UN.
NXR-UN's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. NXR-UN is cheaper than 68.57% of the companies in the same industry.
NXR-UN is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 23.09, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 25.74
Fwd PE 12.54
NXR-UN.CA Price Earnings VS Forward Price EarningsNXR-UN.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

NXR-UN's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. NXR-UN is cheaper than 65.71% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, NXR-UN is valued a bit more expensive than 74.29% of the companies in the same industry.
Industry RankSector Rank
P/FCF 55.95
EV/EBITDA 20.59
NXR-UN.CA Per share dataNXR-UN.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10

4.3 Compensation for Growth

The decent profitability rating of NXR-UN may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y4.22%
EPS Next 3Y4.4%

6

5. Dividend

5.1 Amount

NXR-UN has a Yearly Dividend Yield of 6.69%, which is a nice return.
Compared to an average industry Dividend Yield of 7.89, NXR-UN has a dividend in line with its industry peers.
NXR-UN's Dividend Yield is rather good when compared to the S&P500 average which is at 2.32.
Industry RankSector Rank
Dividend Yield 6.69%

5.2 History

The dividend of NXR-UN has a limited annual growth rate of 0.97%.
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)0.97%
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

NXR-UN pays out 156.62% of its income as dividend. This is not a sustainable payout ratio.
The dividend of NXR-UN is growing, but earnings are growing more, so the dividend growth is sustainable.
DP156.62%
EPS Next 2Y4.22%
EPS Next 3Y4.4%
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 (10/22/2025, 7:00:00 PM)

7.98

+0.01 (+0.13%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)08-12 2025-08-12
Earnings (Next)11-13 2025-11-13
Inst Owners12.18%
Inst Owner ChangeN/A
Ins Owners1.12%
Ins Owner ChangeN/A
Market Cap568.97M
Revenue(TTM)176.95M
Net Income(TTM)29.37M
Analysts70
Price Target8.48 (6.27%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 6.69%
Yearly Dividend0.45
Dividend Growth(5Y)0.97%
DP156.62%
Div Incr Years1
Div Non Decr Years4
Ex-Date10-31 2025-10-31 (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)0%
PT rev (3m)3.55%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-1.75%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-4.87%
Valuation
Industry RankSector Rank
PE 25.74
Fwd PE 12.54
P/S 3.22
P/FCF 55.95
P/OCF 20.44
P/B 0.53
P/tB 0.53
EV/EBITDA 20.59
EPS(TTM)0.31
EY3.88%
EPS(NY)0.64
Fwd EY7.97%
FCF(TTM)0.14
FCFY1.79%
OCF(TTM)0.39
OCFY4.89%
SpS2.48
BVpS14.96
TBVpS14.96
PEG (NY)N/A
PEG (5Y)N/A
Graham Number10.22
Profitability
Industry RankSector Rank
ROA 1.14%
ROE 2.75%
ROCE 4.38%
ROIC 3.15%
ROICexc 3.15%
ROICexgc 3.15%
OM 54.85%
PM (TTM) 16.6%
GM 72.87%
FCFM 5.75%
ROA(3y)5.38%
ROA(5y)5.35%
ROE(3y)12.81%
ROE(5y)12.75%
ROIC(3y)4.8%
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
ROICexgc growth 3YN/A
ROICexgc growth 5Y-1.22%
ROICexc growth 3YN/A
ROICexc growth 5Y-1.22%
OM growth 3YN/A
OM growth 5Y5.36%
PM growth 3Y-22.63%
PM growth 5Y-6.03%
GM growth 3Y2.26%
GM growth 5Y2.55%
F-Score5
Asset Turnover0.07
Health
Industry RankSector Rank
Debt/Equity 1.05
Debt/FCF 140.81
Debt/EBITDA 11.56
Cap/Depr 14716.7%
Cap/Sales 9.98%
Interest Coverage 1.37
Cash Conversion 28.64%
Profit Quality 34.63%
Current Ratio 0.2
Quick Ratio 0.2
Altman-Z 0.5
F-Score5
WACC5.85%
ROIC/WACC0.54
Cap/Depr(3y)15077.8%
Cap/Depr(5y)11497.8%
Cap/Sales(3y)9.4%
Cap/Sales(5y)8.77%
Profit Quality(3y)24.18%
Profit Quality(5y)29.33%
High Growth Momentum
Growth
EPS 1Y (TTM)-82.9%
EPS 3Y-18.62%
EPS 5Y-7.47%
EPS Q2Q%-117.02%
EPS Next Y-3.45%
EPS Next 2Y4.22%
EPS Next 3Y4.4%
EPS Next 5YN/A
Revenue 1Y (TTM)5.79%
Revenue growth 3Y28.09%
Revenue growth 5Y23.97%
Sales Q2Q%-4.35%
Revenue Next Year0.63%
Revenue Next 2Y3.83%
Revenue Next 3Y3.64%
Revenue Next 5YN/A
EBIT growth 1Y-35.44%
EBIT growth 3YN/A
EBIT growth 5Y30.62%
EBIT Next Year-4.02%
EBIT Next 3Y2.49%
EBIT Next 5YN/A
FCF growth 1Y-72.89%
FCF growth 3Y8.39%
FCF growth 5Y5.3%
OCF growth 1Y-50.68%
OCF growth 3Y15.98%
OCF growth 5Y10.8%