PRIMARIS REIT (PMZ-UN.CA) Stock Fundamental Analysis
TSX:PMZ-UN - Toronto Stock Exchange - CA74167K1093 - REIT - Currency: CAD
PMZ-UN gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 38 industry peers in the Diversified REITs industry. There are concerns on the financial health of PMZ-UN while its profitability can be described as average. PMZ-UN is valued expensive and it does not seem to be growing.
1. Profitability
1.1 Basic Checks
PMZ-UN had positive earnings in the past year.
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's Return On Assets of 1.86% is fine compared to the rest of the industry. PMZ-UN outperforms 68.42% of its industry peers.
The Return On Equity of PMZ-UN (3.68%) is better than 63.16% of its industry peers.
PMZ-UN has a Return On Invested Capital (4.15%) which is comparable to the rest of the 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 4.83%.
The last Return On Invested Capital (4.15%) for PMZ-UN is above the 3 year average (4.04%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.86% | ||
| ROE | 3.68% | ||
| ROIC | 4.15% |
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 15.83%, PMZ-UN is doing good in the industry, outperforming 63.16% of the companies in the same industry.
PMZ-UN's Profit Margin has declined in the last couple of years.
Looking at the Operating Margin, with a value of 47.56%, PMZ-UN is doing worse than 63.16% of the companies in the same industry.
PMZ-UN's Operating Margin has declined in the last couple of years.
PMZ-UN's Gross Margin of 57.65% is in line compared to the rest of the industry. PMZ-UN outperforms 44.74% of its industry peers.
PMZ-UN's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 47.56% | ||
| PM (TTM) | 15.83% | ||
| GM | 57.65% |
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
PMZ-UN has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for PMZ-UN has been increased compared to 1 year ago.
The debt/assets ratio for PMZ-UN is higher compared to a year ago.
2.2 Solvency
PMZ-UN has a debt to FCF ratio of 11.64. This is a negative value and a sign of low solvency as PMZ-UN would need 11.64 years to pay back of all of its debts.
PMZ-UN's Debt to FCF ratio of 11.64 is fine compared to the rest of the industry. PMZ-UN outperforms 78.95% of its industry peers.
PMZ-UN has a Debt/Equity ratio of 0.91. This is a neutral value indicating PMZ-UN is somewhat dependend on debt financing.
PMZ-UN has a Debt to Equity ratio of 0.91. This is in the better half of the industry: PMZ-UN outperforms 65.79% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.91 | ||
| Debt/FCF | 11.64 | ||
| Altman-Z | N/A |
ROIC/WACC0.68
WACC6.08%
2.3 Liquidity
PMZ-UN has a Current Ratio of 0.12. This is a bad value and indicates that PMZ-UN is not financially healthy enough and could expect problems in meeting its short term obligations.
PMZ-UN's Current ratio of 0.12 is on the low side compared to the rest of the industry. PMZ-UN is outperformed by 65.79% of its industry peers.
PMZ-UN has a Quick Ratio of 0.12. This is a bad value and indicates that PMZ-UN is not financially healthy enough and could expect problems in meeting its short term obligations.
PMZ-UN has a Quick ratio of 0.12. This is in the lower half of the industry: PMZ-UN underperforms 65.79% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.12 | ||
| Quick Ratio | 0.12 |
3. Growth
3.1 Past
PMZ-UN shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -29.67%.
The earnings per share for PMZ-UN have been decreasing by -39.76% on average. This is quite bad
PMZ-UN shows a strong growth in Revenue. In the last year, the Revenue has grown by 22.13%.
The Revenue has been growing by 26.51% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)-29.67%
EPS 3Y-39.76%
EPS 5YN/A
EPS Q2Q%45.29%
Revenue 1Y (TTM)22.13%
Revenue growth 3Y26.51%
Revenue growth 5YN/A
Sales Q2Q%25.79%
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
PMZ-UN is valuated rather expensively with a Price/Earnings ratio of 19.52.
Based on the Price/Earnings ratio, PMZ-UN is valued a bit cheaper than the industry average as 65.79% of the companies are valued more expensively.
The average S&P500 Price/Earnings ratio is at 27.85. PMZ-UN is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.52 | ||
| Fwd PE | N/A |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of PMZ-UN indicates a rather cheap valuation: PMZ-UN is cheaper than 81.58% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, PMZ-UN is valued a bit cheaper than the industry average as 68.42% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 8.6 | ||
| EV/EBITDA | 14.15 |
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
PMZ-UN has a Yearly Dividend Yield of 6.34%, which is a nice return.
Compared to an average industry Dividend Yield of 8.01, PMZ-UN is paying slightly less dividend.
Compared to an average S&P500 Dividend Yield of 2.45, PMZ-UN pays a better dividend.
| 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 Years1
Div Non Decr Years1
5.3 Sustainability
PMZ-UN pays out 102.29% of its income as dividend. This is not a sustainable payout ratio.
DP102.29%
EPS Next 2YN/A
EPS Next 3YN/A
TSX:PMZ-UN (5/1/2025, 7:00:00 PM)
14.25
-0.13 (-0.9%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners52.75%
Inst Owner ChangeN/A
Ins Owners0.66%
Ins Owner ChangeN/A
Market Cap1.45B
Analysts76.67
Price Target18.11 (27.09%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.34% |
Yearly Dividend0.83
Dividend Growth(5Y)N/A
DP102.29%
Div Incr Years1
Div Non Decr Years1
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)-3.4%
PT rev (3m)-3.73%
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 | 19.52 | ||
| Fwd PE | N/A | ||
| P/S | 2.88 | ||
| P/FCF | 8.6 | ||
| P/OCF | 8.6 | ||
| P/B | 0.67 | ||
| P/tB | 0.67 | ||
| EV/EBITDA | 14.15 |
EPS(TTM)0.73
EY5.12%
EPS(NY)N/A
Fwd EYN/A
FCF(TTM)1.66
FCFY11.63%
OCF(TTM)1.66
OCFY11.63%
SpS4.94
BVpS21.27
TBVpS21.27
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.86% | ||
| ROE | 3.68% | ||
| ROCE | 5.76% | ||
| ROIC | 4.15% | ||
| ROICexc | 4.16% | ||
| ROICexgc | 4.27% | ||
| OM | 47.56% | ||
| PM (TTM) | 15.83% | ||
| GM | 57.65% | ||
| FCFM | 33.54% |
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 | 0.91 | ||
| Debt/FCF | 11.64 | ||
| Debt/EBITDA | 8.14 | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 2.63 | ||
| Cash Conversion | 69.91% | ||
| Profit Quality | 211.8% | ||
| Current Ratio | 0.12 | ||
| Quick Ratio | 0.12 | ||
| Altman-Z | N/A |
F-Score6
WACC6.08%
ROIC/WACC0.68
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)-29.67%
EPS 3Y-39.76%
EPS 5YN/A
EPS Q2Q%45.29%
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)22.13%
Revenue growth 3Y26.51%
Revenue growth 5YN/A
Sales Q2Q%25.79%
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y21.75%
EBIT growth 3Y23.07%
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y0.98%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y0.98%
OCF growth 3YN/A
OCF growth 5YN/A