Granite Real Estate Investment Trust (GRTUF) stock analysis
GRTUFOTCReal Estate Investment TrustsFiscal year ends December 31
Financials through fiscal 2024, year ended Dec 31, 2024Last filing: 40-F on Feb 26, 2025
$59.60−1.33 (-2.18%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2010 to 2024
Operating margin
82.9%−4.1 pts over 5 years
Net margin
63.4%−76.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2024
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +9.2% | +13.1% | +15.8% | – | |
| Operating income | +8.4% | +12.4% | +14.6% | – | |
| Net income | +163.9% | -34.9% | -1.1% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2015 | FY2019 | FY2024 | Trend |
|---|---|---|---|---|
| Return on equity | – | 13.5% | 6.6% | |
| Return on assets | – | 8.5% | 3.9% | |
| Debt to equity | – | 0.38 | – | |
| Net debt to EBITDA | – | 3.71× | – | |
| Interest coverage | – | 8.0× | 5.3× | |
| Capex to revenue | – | 0.1% | 0.0% |
Cash use needs five years of cash flow figures
Granite Real Estate Investment Trust does not report operating cash flow and capital expenditure for each of the last five fiscal years.
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin63.4%
×Asset turnover0.06×
×Equity multiplier1.70×
=Return on equity, FY20246.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2024 | 63.4% | 0.06× | 1.70× | 6.6% |
| FY2023 | 26.2% | 0.06× | 1.71× | 2.5% |
| FY2022 | 34.2% | 0.05× | 1.65× | 2.9% |
| FY2021 | 332.9% | 0.05× | 1.66× | 28.4% |
| FY2020 | 126.3% | 0.06× | 1.63× | 12.2% |
| FY2019 | 139.6% | 0.06× | 1.59× | 13.5% |
| FY2018 | 188.0% | 0.07× | 1.60× | 20.1% |
| FY2017 | 146.2% | 0.08× | 1.50× | 17.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2024 against fiscal 2023
3of 3 tests passed in fiscal 2024. Some tests lack the figures they need.
- ProfitableNet income above zeroC$360.61M
- Cash generatingOperating cash flow above zero–
- Return on assets improvedROA up on the prior year1.5% → 4.0%
- Earnings backed by cashOperating cash flow above net income– vs C$360.61M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise– → –
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.06 → 0.06
See a number that looks wrong?