PRIMARIS REIT (PMZ-UN.CA) Stock Fundamental Analysis
TSX:PMZ-UN - Toronto Stock Exchange - CA74167K1093 - REIT - Currency: CAD
Taking everything into account, PMZ-UN scores 4 out of 10 in our fundamental rating. PMZ-UN was compared to 37 industry peers in the Diversified REITs industry. PMZ-UN has a medium profitability rating, but doesn't score so well on its financial health evaluation. PMZ-UN does not seem to be growing, but still is valued expensively.
1. Profitability
1.1 Basic Checks
In the past year PMZ-UN was profitable.
PMZ-UN had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: PMZ-UN reported negative net income in multiple years.
PMZ-UN had a positive operating cash flow in 4 of the past 5 years.
1.2 Ratios
PMZ-UN has a better Return On Assets (1.41%) than 62.16% of its industry peers.
PMZ-UN has a Return On Equity of 2.95%. This is in the better half of the industry: PMZ-UN outperforms 62.16% of its industry peers.
With a Return On Invested Capital value of 4.36%, PMZ-UN perfoms like the industry average, outperforming 59.46% of the companies in the same industry.
PMZ-UN had an Average Return On Invested Capital over the past 3 years of 4.04%. This is in line with the industry average of 5.78%.
The 3 year average ROIC (4.04%) for PMZ-UN is below the current ROIC(4.36%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.41% | ||
| ROE | 2.95% | ||
| ROIC | 4.36% |
ROA(3y)1.37%
ROA(5y)-2.46%
ROE(3y)2.65%
ROE(5y)-6.77%
ROIC(3y)4.04%
ROIC(5y)4.06%
1.3 Margins
With a decent Profit Margin value of 12.15%, PMZ-UN is doing good in the industry, outperforming 62.16% of the companies in the same industry.
In the last couple of years the Profit Margin of PMZ-UN has declined.
PMZ-UN's Operating Margin of 50.91% is in line compared to the rest of the industry. PMZ-UN outperforms 48.65% of its industry peers.
PMZ-UN's Operating Margin has declined in the last couple of years.
Looking at the Gross Margin, with a value of 57.56%, PMZ-UN is in line with its industry, outperforming 45.95% of the companies in the same industry.
In the last couple of years the Gross Margin of PMZ-UN has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 50.91% | ||
| PM (TTM) | 12.15% | ||
| GM | 57.56% |
OM growth 3Y-2.72%
OM growth 5YN/A
PM growth 3Y-51.36%
PM growth 5YN/A
GM growth 3Y0.31%
GM growth 5YN/A
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so PMZ-UN is destroying value.
Compared to 1 year ago, PMZ-UN has more shares outstanding
The debt/assets ratio for PMZ-UN is higher compared to a year ago.
2.2 Solvency
The Debt to FCF ratio of PMZ-UN is 12.44, which is on the high side as it means it would take PMZ-UN, 12.44 years of fcf income to pay off all of its debts.
PMZ-UN has a Debt to FCF ratio of 12.44. This is in the better half of the industry: PMZ-UN outperforms 78.38% of its industry peers.
PMZ-UN has a Debt/Equity ratio of 1.03. This is a high value indicating a heavy dependency on external financing.
PMZ-UN's Debt to Equity ratio of 1.03 is fine compared to the rest of the industry. PMZ-UN outperforms 62.16% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.03 | ||
| Debt/FCF | 12.44 | ||
| Altman-Z | N/A |
ROIC/WACC0.78
WACC5.59%
2.3 Liquidity
A Current Ratio of 0.54 indicates that PMZ-UN may have some problems paying its short term obligations.
PMZ-UN has a Current ratio of 0.54. This is in the better half of the industry: PMZ-UN outperforms 78.38% of its industry peers.
A Quick Ratio of 0.54 indicates that PMZ-UN may have some problems paying its short term obligations.
With an excellent Quick ratio value of 0.54, PMZ-UN belongs to the best of the industry, outperforming 83.78% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.54 | ||
| Quick Ratio | 0.54 |
3. Growth
3.1 Past
The earnings per share for PMZ-UN have decreased strongly by -49.27% in the last year.
Measured over the past years, PMZ-UN shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -39.76% on average per year.
PMZ-UN shows a strong growth in Revenue. In the last year, the Revenue has grown by 22.84%.
PMZ-UN shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 26.51% yearly.
EPS 1Y (TTM)-49.27%
EPS 3Y-39.76%
EPS 5YN/A
EPS Q2Q%-39.52%
Revenue 1Y (TTM)22.84%
Revenue growth 3Y26.51%
Revenue growth 5YN/A
Sales Q2Q%26%
3.2 Future
No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 26.41, the valuation of PMZ-UN can be described as expensive.
Compared to the rest of the industry, the Price/Earnings ratio of PMZ-UN indicates a somewhat cheap valuation: PMZ-UN is cheaper than 62.16% of the companies listed in the same industry.
PMZ-UN's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 26.82.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 26.41 | ||
| Fwd PE | N/A |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, PMZ-UN is valued cheaply inside the industry as 83.78% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, PMZ-UN is valued a bit cheaper than the industry average as 64.86% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 8.39 | ||
| EV/EBITDA | 13.66 |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2YN/A
EPS Next 3YN/A
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 6.34%, PMZ-UN is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 7.94, PMZ-UN has a dividend in line with its industry peers.
PMZ-UN's Dividend Yield is rather good when compared to the S&P500 average which is at 2.35.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.34% |
5.2 History
PMZ-UN has paid a dividend for less than 5 years, so there is no long track record yet.
Dividend Growth(5Y)N/A
Div Incr Years2
Div Non Decr Years2
5.3 Sustainability
128.50% of the earnings are spent on dividend by PMZ-UN. This is not a sustainable payout ratio.
DP128.5%
EPS Next 2YN/A
EPS Next 3YN/A
TSX:PMZ-UN (8/1/2025, 7:00:00 PM)
14.79
+0.04 (+0.27%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners70.19%
Inst Owner ChangeN/A
Ins Owners0.68%
Ins Owner ChangeN/A
Market Cap1.53B
Analysts78.18
Price Target18.29 (23.66%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.34% |
Yearly Dividend0.83
Dividend Growth(5Y)N/A
DP128.5%
Div Incr Years2
Div Non Decr Years2
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)2.69%
PT rev (3m)1.01%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)N/A
EPS NY rev (3m)N/A
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)N/A
Revenue NY rev (3m)N/A
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 26.41 | ||
| Fwd PE | N/A | ||
| P/S | 2.87 | ||
| P/FCF | 8.39 | ||
| P/OCF | 8.38 | ||
| P/B | 0.7 | ||
| P/tB | 0.7 | ||
| EV/EBITDA | 13.66 |
EPS(TTM)0.56
EY3.79%
EPS(NY)N/A
Fwd EYN/A
FCF(TTM)1.76
FCFY11.92%
OCF(TTM)1.76
OCFY11.93%
SpS5.15
BVpS21.23
TBVpS21.23
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.41% | ||
| ROE | 2.95% | ||
| ROCE | 6.05% | ||
| ROIC | 4.36% | ||
| ROICexc | 4.41% | ||
| ROICexgc | 4.41% | ||
| OM | 50.91% | ||
| PM (TTM) | 12.15% | ||
| GM | 57.56% | ||
| FCFM | 34.22% |
ROA(3y)1.37%
ROA(5y)-2.46%
ROE(3y)2.65%
ROE(5y)-6.77%
ROIC(3y)4.04%
ROIC(5y)4.06%
ROICexc(3y)4.06%
ROICexc(5y)4.09%
ROICexgc(3y)4.1%
ROICexgc(5y)4.11%
ROCE(3y)5.61%
ROCE(5y)5.7%
ROICexcg growth 3Y13.07%
ROICexcg growth 5YN/A
ROICexc growth 3Y12.15%
ROICexc growth 5YN/A
OM growth 3Y-2.72%
OM growth 5YN/A
PM growth 3Y-51.36%
PM growth 5YN/A
GM growth 3Y0.31%
GM growth 5YN/A
F-Score6
Asset Turnover0.12
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.03 | ||
| Debt/FCF | 12.44 | ||
| Debt/EBITDA | 8.3 | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 2.58 | ||
| Cash Conversion | 66.78% | ||
| Profit Quality | 281.69% | ||
| Current Ratio | 0.54 | ||
| Quick Ratio | 0.54 | ||
| Altman-Z | N/A |
F-Score6
WACC5.59%
ROIC/WACC0.78
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-49.27%
EPS 3Y-39.76%
EPS 5YN/A
EPS Q2Q%-39.52%
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)22.84%
Revenue growth 3Y26.51%
Revenue growth 5YN/A
Sales Q2Q%26%
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y34.8%
EBIT growth 3Y23.07%
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y22.09%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y21.02%
OCF growth 3YN/A
OCF growth 5YN/A