Financials BTB Real Estate Investment Trust

Equities

BTB.UN

CA11777P3007

Commercial REITs

Market Closed - Toronto S.E. 04:00:00 2024-04-26 pm EDT 5-day change 1st Jan Change
3.17 CAD 0.00% Intraday chart for BTB Real Estate Investment Trust 0.00% +8.19%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 321.4 223.7 301.1 310.8 254 276.4 -
Enterprise Value (EV) 1 321.4 223.7 301.1 996.4 254 985.1 276.4
P/E ratio - - - - - - -
Yield 8.12% 9.63% 7.35% 8.22% - 9.46% 9.46%
Capitalization / Revenue 3.43 x 2.41 x 3 x 2.6 x 1.99 x 2.12 x -
EV / Revenue 3.43 x 2.41 x 3 x 8.34 x 1.99 x 7.54 x -
EV / EBITDA 7.01 x 5.03 x 6.08 x 15.5 x 3.64 x 13.9 x -
EV / FCF - - - -32.9 x - -37.9 x -11.1 x
FCF Yield - - - -3.04% - -2.64% -9.05%
Price to Book - - - - - - -
Nbr of stocks (in thousands) 62,158 63,367 73,798 85,160 86,706 87,190 -
Reference price 2 5.170 3.530 4.080 3.650 2.930 3.170 3.170
Announcement Date 3/12/20 3/16/21 2/24/22 2/27/23 2/27/24 - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 93.6 92.97 100.3 119.5 127.8 130.6 -
EBITDA 1 45.86 44.51 49.49 64.41 69.72 71.02 -
EBIT - - - - - - -
Operating Margin - - - - - - -
Earnings before Tax (EBT) - - - - - - -
Net income - - - - - - -
Net margin - - - - - - -
EPS - - - - - - -
Free Cash Flow 1 - - - -30.26 - -26 -25
FCF margin - - - -25.32% - -19.9% -
FCF Conversion (EBITDA) - - - - - - -
FCF Conversion (Net income) - - - - - - -
Dividend per Share 2 0.4200 0.3400 0.3000 0.3000 - 0.3000 0.3000
Announcement Date 3/12/20 3/16/21 2/24/22 2/27/23 2/27/24 - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2022 Q2 2022 Q3
Net sales 23.99 28.98 -
EBITDA 11.95 15.9 -
EBIT - - -
Operating Margin - - -
Earnings before Tax (EBT) - - -
Net income - - -
Net margin - - -
EPS - - -
Dividend per Share 1 - 0.0750 0.0750
Announcement Date 11/8/21 8/8/22 11/8/22
1CAD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 - - - 686 - 709 -
Net Cash position 1 - - - - - - -
Leverage (Debt/EBITDA) - - - 10.64 x - 9.979 x -
Free Cash Flow 1 - - - -30.3 - -26 -25
ROE (net income / shareholders' equity) - - - - - - -
ROA (Net income/ Total Assets) - - - - - - -
Assets - - - - - - -
Book Value Per Share - - - - - - -
Cash Flow per Share - - - - - - -
Capex - - - - - - -
Capex / Sales - - - - - - -
Announcement Date 3/12/20 3/16/21 2/24/22 2/27/23 2/27/24 - -
1CAD in Million
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
4
Last Close Price
3.17 CAD
Average target price
3.325 CAD
Spread / Average Target
+4.89%
Consensus

Chiffre d''affaires - Rate of surprise

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