Artis Real Estate Investment Trust
TSX:AX.UN

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Artis Real Estate Investment Trust Logo
Artis Real Estate Investment Trust
TSX:AX.UN
Watchlist
Price: 7.73 CAD Market Closed
Market Cap: 751m CAD
Section:
Relative Value
Relative Value
Valuation Multiples
Multiples Across Competitors
See Also

Relative Value

The Relative Value of one AX.UN stock under the Base Case scenario is 12.92 CAD. Compared to the current market price of 7.73 CAD, Artis Real Estate Investment Trust is Undervalued by 40%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

AX.UN Relative Value
Base Case
12.92 CAD
Undervaluation 40%
Relative Value
Price
Worst Case
Base Case
Best Case

Valuation Multiples

2.7
P/S
P/S
Price to Sales
2.7
vs History
36
vs Industry
54
Median 3Y
2.5
Median 5Y
2.6
Industry
3.8
Forward
2.8
More Details
Negative
P/E
P/E
Price to Earnings
N/A
vs History
vs Industry
Median 3Y
-2.7
Median 5Y
-1.8
Industry
16.9
Forward
-58.8
More Details
9.9
P/OCF
P/OCF
Price to OCF
9.9
vs History
15
vs Industry
40
Median 3Y
9.2
Median 5Y
7.4
Industry
11.1
More Details
Negative
P/FCFE
P/FCFE
Price to FCFE
N/A
vs History
vs Industry
0
Median 3Y
-1.3
Median 5Y
-1.7
Industry
13.1
More Details
0.5
P/B
P/B
Price to Book Value
0.5
vs History
38
vs Industry
66
Median 3Y
0.4
Median 5Y
0.5
Industry
0.9
More Details
5.5
EV/S
EV/S
Enterprise Value to Sales
5.5
vs History
49
vs Industry
53
Median 3Y
5.3
Median 5Y
5.5
Industry
6.7
Forward
5.6
More Details
10.2
EV/GP
EV/GP
Enterprise Value to Gross Profit
10.2
vs History
26
vs Industry
57
Median 3Y
9.5
Median 5Y
9.9
Industry
12.3
More Details
15.3
EV/EBITDA
EV/EBITDA
Enterprise Value to EBITDA
15.3
vs History
1
vs Industry
51
Median 3Y
10.2
Median 5Y
10.3
Industry
16
Forward
7.4
More Details
15.5
EV/EBIT
EV/EBIT
Enterprise Value to EBIT
15.5
vs History
1
vs Industry
53
Median 3Y
10.3
Median 5Y
10.4
Industry
19.3
More Details
20
EV/OCF
EV/OCF
Enterprise Value to OCF
20
vs History
25
vs Industry
38
Median 3Y
19.9
Median 5Y
15.9
Industry
18.5
More Details
20.1
EV/FCFF
EV/FCFF
Enterprise Value to FCFF
20.1
vs History
25
vs Industry
35
Median 3Y
20
Median 5Y
15.9
Industry
20.2
More Details
0.6
EV/IC
EV/IC
Enterprise Value to IC
0.6
vs History
12
vs Industry
63
Median 3Y
0.5
Median 5Y
0.5
Industry
0.8
More Details

Multiples Across Competitors

AX.UN Competitors Multiples
Artis Real Estate Investment Trust Competitors

All Multiples
P/S
P/E
EV/EBITDA
EV/EBIT
Market Cap P/S P/E EV/EBITDA EV/EBIT
CA
Artis Real Estate Investment Trust
TSX:AX.UN
764.6m CAD 2.7 -18.3 15.3 15.5
ZA
Growthpoint Properties Ltd
JSE:GRT
48.5B Zac 0 0 0 0
ZA
Redefine Properties Ltd
JSE:RDF
31.2B Zac 0 0 0 0
US
WP Carey Inc
NYSE:WPC
13.5B USD 8.4 31.6 16.2 26.9
ZA
Attacq Ltd
JSE:ATT
10.1B Zac 0 0 0 0
JP
KDX Realty Investment Corp
OTC:KDXRF
9.5B USD 18 41.6 37.8 47.6
AU
Stockland Corporation Ltd
ASX:SGP
12.9B AUD 4.2 28.8 25.3 25.3
FR
Gecina SA
PAR:GFC
6.5B EUR 9.4 21 22.3 22.8
ES
MERLIN Properties SOCIMI SA
MAD:MRL
6.5B EUR 12.8 21.3 24.6 24.9
ZA
SA Corporate Real Estate Fund Managers (Pty) Ltd
JSE:SAC
7.3B Zac 0 0 0 0
ZA
Fairvest Ltd
JSE:FTA
7.4B Zac 0 0 0 0
P/E Multiple
Earnings Growth PEG
CA
Artis Real Estate Investment Trust
TSX:AX.UN
Average P/E: 28.9
Negative Multiple: -18.3 		N/A N/A
ZA
G
Growthpoint Properties Ltd
JSE:GRT
Not Available
-65%
N/A
ZA
R
Redefine Properties Ltd
JSE:RDF
Not Available
2%
N/A
US
WP Carey Inc
NYSE:WPC
31.6
10%
3.2
ZA
A
Attacq Ltd
JSE:ATT
Not Available
-4%
N/A
JP
KDX Realty Investment Corp
OTC:KDXRF
41.6
-13%
N/A
AU
Stockland Corporation Ltd
ASX:SGP
28.8
44%
0.7
FR
Gecina SA
PAR:GFC
21
19%
1.1
ES
MERLIN Properties SOCIMI SA
MAD:MRL
21.3
8%
2.7
ZA
S
SA Corporate Real Estate Fund Managers (Pty) Ltd
JSE:SAC
Not Available
9%
N/A
ZA
F
Fairvest Ltd
JSE:FTA
Not Available N/A N/A
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
CA
Artis Real Estate Investment Trust
TSX:AX.UN
Average EV/EBITDA: 23.6
15.3
N/A N/A
ZA
G
Growthpoint Properties Ltd
JSE:GRT
Not Available
-2%
N/A
ZA
R
Redefine Properties Ltd
JSE:RDF
Not Available
0%
N/A
US
WP Carey Inc
NYSE:WPC
16.2
8%
2
ZA
A
Attacq Ltd
JSE:ATT
Not Available N/A N/A
JP
KDX Realty Investment Corp
OTC:KDXRF
37.8
-1%
N/A
AU
Stockland Corporation Ltd
ASX:SGP
25.3
17%
1.5
FR
Gecina SA
PAR:GFC
22.3
5%
4.5
ES
MERLIN Properties SOCIMI SA
MAD:MRL
24.6
10%
2.5
ZA
S
SA Corporate Real Estate Fund Managers (Pty) Ltd
JSE:SAC
Not Available
0%
N/A
ZA
F
Fairvest Ltd
JSE:FTA
Not Available N/A N/A
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
CA
Artis Real Estate Investment Trust
TSX:AX.UN
Average EV/EBIT: 27.2
15.5
N/A N/A
ZA
G
Growthpoint Properties Ltd
JSE:GRT
Not Available
-2%
N/A
ZA
R
Redefine Properties Ltd
JSE:RDF
Not Available
5%
N/A
US
WP Carey Inc
NYSE:WPC
26.9
11%
2.4
ZA
A
Attacq Ltd
JSE:ATT
Not Available
4%
N/A
JP
KDX Realty Investment Corp
OTC:KDXRF
47.6
N/A N/A
AU
Stockland Corporation Ltd
ASX:SGP
25.3
17%
1.5
FR
Gecina SA
PAR:GFC
22.8
12%
1.9
ES
MERLIN Properties SOCIMI SA
MAD:MRL
24.9
11%
2.3
ZA
S
SA Corporate Real Estate Fund Managers (Pty) Ltd
JSE:SAC
Not Available N/A N/A
ZA
F
Fairvest Ltd
JSE:FTA
Not Available N/A N/A

See Also

Summary
AX.UN intrinsic value, competitors valuation, and company profile.
DCF Valuation
AX.UN stock valuation using Discount Cash Flow valuation method.
Relative Valuation
AX.UN stock valuation using valuation multiples.
Wall Street Estimates
AX.UN price targets and financial estimates made by Wall st analysts.
Profitability Analysis
Detailed analysis of the company's profitability.
Solvency Analysis
Analysis of the financial position and solvency of the company.
Financials
Income Statement, Balance Sheet, Cash Flow Statement.
Discount Rate
AX.UN stock discount rate: cost of equity and WACC.
Summary
DCF Valuation
Relative Valuation
Wall Street Estimates
Profitability Analysis
Solvency Analysis
Financials
Discount Rate
Discover More
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