RIOCAN REAL ESTATE INVST TR (REI-UN.CA) Fundamental Analysis & Valuation

TSX:REI-UN • CA7669101031

Current stock price

20.18 CAD
+0.35 (+1.77%)
Last:

This REI-UN.CA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

4

1. REI-UN.CA Profitability Analysis

1.1 Basic Checks

  • REI-UN had positive earnings in the past year.
  • REI-UN had a positive operating cash flow in the past year.
  • In the past 5 years REI-UN has always been profitable.
  • In the past 5 years REI-UN always reported a positive cash flow from operatings.
REI-UN.CA Yearly Net Income VS EBIT VS OCF VS FCFREI-UN.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200M 400M 600M 800M

1.2 Ratios

  • The Return On Assets of REI-UN (0.47%) is comparable to the rest of the industry.
  • REI-UN's Return On Equity of 0.97% is in line compared to the rest of the industry. REI-UN outperforms 57.58% of its industry peers.
  • REI-UN's Return On Invested Capital of 3.87% is in line compared to the rest of the industry. REI-UN outperforms 42.42% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for REI-UN is below the industry average of 5.67%.
  • The last Return On Invested Capital (3.87%) for REI-UN is above the 3 year average (3.61%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 0.47%
ROE 0.97%
ROIC 3.87%
ROA(3y)1.26%
ROA(5y)1.86%
ROE(3y)2.58%
ROE(5y)3.68%
ROIC(3y)3.61%
ROIC(5y)3.48%
REI-UN.CA Yearly ROA, ROE, ROICREI-UN.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2 4 6 8 10

1.3 Margins

  • REI-UN has a Profit Margin (4.82%) which is in line with its industry peers.
  • In the last couple of years the Profit Margin of REI-UN has declined.
  • REI-UN's Operating Margin of 50.38% is in line compared to the rest of the industry. REI-UN outperforms 42.42% of its industry peers.
  • REI-UN's Operating Margin has declined in the last couple of years.
  • With a Gross Margin value of 55.60%, REI-UN is not doing good in the industry: 60.61% of the companies in the same industry are doing better.
  • REI-UN's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 50.38%
PM (TTM) 4.82%
GM 55.6%
OM growth 3Y-1.81%
OM growth 5Y-1.75%
PM growth 3Y-37.23%
PM growth 5YN/A
GM growth 3Y-1.8%
GM growth 5Y-1.34%
REI-UN.CA Yearly Profit, Operating, Gross MarginsREI-UN.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 40 60

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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. REI-UN.CA Health Analysis

2.1 Basic Checks

  • REI-UN has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • REI-UN has less shares outstanding than it did 1 year ago.
  • The number of shares outstanding for REI-UN has been reduced compared to 5 years ago.
  • The debt/assets ratio for REI-UN is higher compared to a year ago.
REI-UN.CA Yearly Shares OutstandingREI-UN.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M
REI-UN.CA Yearly Total Debt VS Total AssetsREI-UN.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B

2.2 Solvency

  • REI-UN has an Altman-Z score of 0.88. This is a bad value and indicates that REI-UN is not financially healthy and even has some risk of bankruptcy.
  • REI-UN's Altman-Z score of 0.88 is fine compared to the rest of the industry. REI-UN outperforms 78.79% of its industry peers.
  • REI-UN has a debt to FCF ratio of 16.47. This is a negative value and a sign of low solvency as REI-UN would need 16.47 years to pay back of all of its debts.
  • REI-UN's Debt to FCF ratio of 16.47 is in line compared to the rest of the industry. REI-UN outperforms 51.52% of its industry peers.
  • REI-UN has a Debt/Equity ratio of 0.86. This is a neutral value indicating REI-UN is somewhat dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.86, REI-UN is in the better half of the industry, outperforming 66.67% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.86
Debt/FCF 16.47
Altman-Z 0.88
ROIC/WACC0.7
WACC5.52%
REI-UN.CA Yearly LT Debt VS Equity VS FCFREI-UN.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B

2.3 Liquidity

  • REI-UN has a Current Ratio of 0.40. This is a bad value and indicates that REI-UN is not financially healthy enough and could expect problems in meeting its short term obligations.
  • REI-UN has a Current ratio of 0.40. This is in the better half of the industry: REI-UN outperforms 69.70% of its industry peers.
  • REI-UN has a Quick Ratio of 0.40. This is a bad value and indicates that REI-UN is not financially healthy enough and could expect problems in meeting its short term obligations.
  • REI-UN's Quick ratio of 0.23 is in line compared to the rest of the industry. REI-UN outperforms 51.52% of its industry peers.
Industry RankSector Rank
Current Ratio 0.4
Quick Ratio 0.23
REI-UN.CA Yearly Current Assets VS Current LiabilitesREI-UN.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

3

3. REI-UN.CA Growth Analysis

3.1 Past

  • REI-UN shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -85.04%.
  • The earnings per share for REI-UN have been decreasing by -32.84% on average. This is quite bad
  • The Revenue has grown by 15.90% in the past year. This is quite good.
  • Measured over the past years, REI-UN shows a small growth in Revenue. The Revenue has been growing by 4.67% on average per year.
EPS 1Y (TTM)-85.04%
EPS 3Y-32.84%
EPS 5YN/A
EPS Q2Q%3.95%
Revenue 1Y (TTM)15.9%
Revenue growth 3Y5.78%
Revenue growth 5Y4.67%
Sales Q2Q%-2.71%

3.2 Future

  • The Earnings Per Share is expected to grow by 60.91% on average over the next years. This is a very strong growth
  • The Revenue is expected to decrease by -5.11% on average over the next years.
EPS Next Y152.71%
EPS Next 2Y60.91%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year1.74%
Revenue Next 2Y-5.11%
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.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
REI-UN.CA Yearly Revenue VS EstimatesREI-UN.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 500M 1B
REI-UN.CA Yearly EPS VS EstimatesREI-UN.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0.5 1 1.5 2 2.5

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5

4. REI-UN.CA Valuation Analysis

4.1 Price/Earnings Ratio

  • REI-UN is valuated quite expensively with a Price/Earnings ratio of 84.08.
  • Compared to the rest of the industry, the Price/Earnings ratio of REI-UN is on the same level as its industry peers.
  • The average S&P500 Price/Earnings ratio is at 26.78. REI-UN is valued rather expensively when compared to this.
  • The Price/Forward Earnings ratio is 12.26, which indicates a correct valuation of REI-UN.
  • REI-UN's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. REI-UN is cheaper than 72.73% of the companies in the same industry.
  • REI-UN's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 23.54.
Industry RankSector Rank
PE 84.08
Fwd PE 12.26
REI-UN.CA Price Earnings VS Forward Price EarningsREI-UN.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, REI-UN is valued a bit cheaper than 78.79% of the companies in the same industry.
  • REI-UN's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 13.51
EV/EBITDA 17.61
REI-UN.CA Per share dataREI-UN.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • A more expensive valuation may be justified as REI-UN's earnings are expected to grow with 60.91% in the coming years.
PEG (NY)0.55
PEG (5Y)N/A
EPS Next 2Y60.91%
EPS Next 3YN/A

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. REI-UN.CA Dividend Analysis

5.1 Amount

  • REI-UN has a Yearly Dividend Yield of 5.24%, which is a nice return.
  • REI-UN's Dividend Yield is slightly below the industry average, which is at 6.41.
  • Compared to an average S&P500 Dividend Yield of 1.89, REI-UN pays a better dividend.
Industry RankSector Rank
Dividend Yield 5.24%

5.2 History

  • The dividend of REI-UN decreases each year by -4.44%.
  • REI-UN has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)-4.44%
Div Incr Years0
Div Non Decr Years0
REI-UN.CA Yearly Dividends per shareREI-UN.CA Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1

5.3 Sustainability

  • REI-UN pays out 491.50% of its income as dividend. This is not a sustainable payout ratio.
DP491.5%
EPS Next 2Y60.91%
EPS Next 3YN/A
REI-UN.CA Yearly Income VS Free CF VS DividendREI-UN.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200M 400M 600M 800M
REI-UN.CA Dividend Payout.REI-UN.CA Dividend Payout, showing the Payout Ratio.REI-UN.CA Dividend Payout.PayoutRetained Earnings

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REI-UN.CA Fundamentals: All Metrics, Ratios and Statistics

RIOCAN REAL ESTATE INVST TR

TSX:REI-UN (4/10/2026, 7:00:00 PM)

20.18

+0.35 (+1.77%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)02-17
Earnings (Next)05-04
Inst Owners34.69%
Inst Owner ChangeN/A
Ins Owners0.42%
Ins Owner ChangeN/A
Market Cap5.86B
Revenue(TTM)1.44B
Net Income(TTM)69.30M
Analysts74.67
Price Target21.77 (7.88%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.24%
Yearly Dividend1.15
Dividend Growth(5Y)-4.44%
DP491.5%
Div Incr Years0
Div Non Decr Years0
Ex-Date03-31
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)1.3%
PT rev (3m)3.43%
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)-0.41%
Revenue NY rev (3m)-2.47%
Valuation
Industry RankSector Rank
PE 84.08
Fwd PE 12.26
P/S 4.08
P/FCF 13.51
P/OCF 13.51
P/B 0.82
P/tB 0.82
EV/EBITDA 17.61
EPS(TTM)0.24
EY1.19%
EPS(NY)1.65
Fwd EY8.16%
FCF(TTM)1.49
FCFY7.4%
OCF(TTM)1.49
OCFY7.4%
SpS4.94
BVpS24.63
TBVpS24.63
PEG (NY)0.55
PEG (5Y)N/A
Graham Number11.53
Profitability
Industry RankSector Rank
ROA 0.47%
ROE 0.97%
ROCE 5.37%
ROIC 3.87%
ROICexc 3.91%
ROICexgc 3.91%
OM 50.38%
PM (TTM) 4.82%
GM 55.6%
FCFM 30.22%
ROA(3y)1.26%
ROA(5y)1.86%
ROE(3y)2.58%
ROE(5y)3.68%
ROIC(3y)3.61%
ROIC(5y)3.48%
ROICexc(3y)3.65%
ROICexc(5y)3.52%
ROICexgc(3y)3.65%
ROICexgc(5y)3.52%
ROCE(3y)5.01%
ROCE(5y)4.84%
ROICexgc growth 3Y4.04%
ROICexgc growth 5Y3.39%
ROICexc growth 3Y4.11%
ROICexc growth 5Y3.39%
OM growth 3Y-1.81%
OM growth 5Y-1.75%
PM growth 3Y-37.23%
PM growth 5YN/A
GM growth 3Y-1.8%
GM growth 5Y-1.34%
F-Score6
Asset Turnover0.1
Health
Industry RankSector Rank
Debt/Equity 0.86
Debt/FCF 16.47
Debt/EBITDA 8.51
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 2.39
Cash Conversion 59.85%
Profit Quality 626.41%
Current Ratio 0.4
Quick Ratio 0.23
Altman-Z 0.88
F-Score6
WACC5.52%
ROIC/WACC0.7
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)566.62%
Profit Quality(5y)399.11%
High Growth Momentum
Growth
EPS 1Y (TTM)-85.04%
EPS 3Y-32.84%
EPS 5YN/A
EPS Q2Q%3.95%
EPS Next Y152.71%
EPS Next 2Y60.91%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)15.9%
Revenue growth 3Y5.78%
Revenue growth 5Y4.67%
Sales Q2Q%-2.71%
Revenue Next Year1.74%
Revenue Next 2Y-5.11%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y8.38%
EBIT growth 3Y3.86%
EBIT growth 5Y2.83%
EBIT Next Year2.91%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y14.75%
FCF growth 3Y-4.99%
FCF growth 5Y-4.71%
OCF growth 1Y14.75%
OCF growth 3Y-4.99%
OCF growth 5Y-4.71%

RIOCAN REAL ESTATE INVST TR / REI-UN.CA Fundamental Analysis FAQ

What is the fundamental rating for REI-UN stock?

ChartMill assigns a fundamental rating of 4 / 10 to REI-UN.CA.


What is the valuation status of RIOCAN REAL ESTATE INVST TR (REI-UN.CA) stock?

ChartMill assigns a valuation rating of 5 / 10 to RIOCAN REAL ESTATE INVST TR (REI-UN.CA). This can be considered as Fairly Valued.


What is the profitability of REI-UN stock?

RIOCAN REAL ESTATE INVST TR (REI-UN.CA) has a profitability rating of 4 / 10.


What are the PE and PB ratios of RIOCAN REAL ESTATE INVST TR (REI-UN.CA) stock?

The Price/Earnings (PE) ratio for RIOCAN REAL ESTATE INVST TR (REI-UN.CA) is 84.08 and the Price/Book (PB) ratio is 0.82.


What is the expected EPS growth for RIOCAN REAL ESTATE INVST TR (REI-UN.CA) stock?

The Earnings per Share (EPS) of RIOCAN REAL ESTATE INVST TR (REI-UN.CA) is expected to grow by 152.71% in the next year.