Boardwalk Real Estate Investment Trust
TSX:BEI.UN

Watchlist Manager
Boardwalk Real Estate Investment Trust Logo
Boardwalk Real Estate Investment Trust
TSX:BEI.UN
Watchlist
Price: 62.16 CAD -0.38% Market Closed
Market Cap: 3.1B CAD
Financials Section:
Income Statement Balance Sheet Cash Flow Statement

Income Statement

Revenue
+
3Y
+30%
5Y
+36%
10Y
+31%
Operating Income
+
3Y
+45%
5Y
+59%
10Y
+38%
Net Income
+
3Y
-22%
5Y
-
10Y
-

Earnings Waterfall
Boardwalk Real Estate Investment Trust

Revenue
629.4m CAD
Cost of Revenue
-166.2m CAD
Gross Profit
463.2m CAD
Operating Expenses
-115.2m CAD
Operating Income
348m CAD
Other Expenses
-34.3m CAD
Net Income
313.7m CAD

Income Statement
Boardwalk Real Estate Investment Trust

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Income Statement
Currency: CAD
Dec-2001 Mar-2002 Jun-2002 Sep-2002 Dec-2002 Mar-2003 Jun-2003 Sep-2003 Dec-2003 Mar-2004 Jun-2004 Sep-2004 Dec-2004 Mar-2005 Jun-2005 Sep-2005 Dec-2005 Mar-2006 Jun-2006 Sep-2006 Dec-2006 Mar-2007 Jun-2007 Sep-2007 Dec-2007 Mar-2008 Jun-2008 Sep-2008 Dec-2008 Mar-2009 Jun-2009 Sep-2009 Dec-2009 Mar-2010 Jun-2010 Sep-2010 Dec-2010 Mar-2011 Jun-2011 Sep-2011 Dec-2011 Mar-2012 Jun-2012 Sep-2012 Dec-2012 Mar-2013 Jun-2013 Sep-2013 Dec-2013 Mar-2014 Jun-2014 Sep-2014 Dec-2014 Mar-2015 Jun-2015 Sep-2015 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Dec-2016 Mar-2017 Jun-2017 Sep-2017 Dec-2017 Mar-2018 Jun-2018 Sep-2018 Dec-2018 Mar-2019 Jun-2019 Sep-2019 Dec-2019 Mar-2020 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Sep-2021 Dec-2021 Mar-2022 Jun-2022 Sep-2022 Dec-2022 Mar-2023 Jun-2023 Sep-2023 Dec-2023 Mar-2024 Jun-2024 Sep-2024 Dec-2024 Mar-2025 Jun-2025 Sep-2025
Revenue
Interest Expense
67
68
70
75
77
80
81
80
80
80
79
78
78
79
81
84
86
86
85
85
84
86
89
93
98
102
106
109
111
111
111
112
112
112
113
112
111
108
105
102
107
106
103
101
99
89
86
84
90
81
80
80
86
77
76
75
78
72
72
72
76
73
74
75
77
78
78
78
78
80
82
83
85
85
86
87
88
88
87
86
86
86
87
89
92
96
100
103
106
109
111
113
115
116
117
118
Revenue
227
N/A
214
-6%
231
+8%
243
+5%
249
+3%
260
+4%
260
0%
265
+2%
271
+2%
275
+1%
278
+1%
278
+0%
279
+0%
282
+1%
286
+1%
292
+2%
297
+2%
300
+1%
305
+2%
311
+2%
319
+3%
331
+4%
345
+4%
360
+4%
375
+4%
389
+4%
402
+3%
414
+3%
420
+1%
424
+1%
423
0%
420
-1%
417
-1%
415
0%
417
+1%
417
0%
420
+1%
421
+0%
419
0%
421
+0%
423
+0%
427
+1%
430
+1%
435
+1%
440
+1%
443
+1%
447
+1%
450
+1%
454
+1%
459
+1%
464
+1%
469
+1%
473
+1%
477
+1%
480
+1%
480
+0%
476
-1%
470
-1%
459
-2%
449
-2%
439
-2%
431
-2%
426
-1%
423
-1%
423
+0%
425
+0%
427
+1%
431
+1%
435
+1%
440
+1%
445
+1%
450
+1%
455
+1%
460
+1%
463
+1%
464
+0%
466
+0%
465
0%
466
+0%
468
+0%
471
+0%
473
+1%
478
+1%
485
+1%
495
+2%
507
+2%
519
+2%
531
+2%
546
+3%
560
+3%
575
+3%
591
+3%
603
+2%
614
+2%
622
+1%
629
+1%
Gross Profit
Cost of Revenue
(63)
(53)
(60)
(63)
(62)
(67)
(65)
(68)
(69)
(70)
(72)
(70)
(71)
(72)
(80)
(86)
(89)
(94)
(92)
(94)
(95)
(99)
(101)
(103)
(107)
(113)
(117)
(121)
(122)
(122)
(118)
(117)
(116)
(116)
(118)
(119)
(119)
(120)
(120)
(123)
(125)
(124)
(125)
(125)
(127)
(128)
(130)
(130)
(131)
(136)
(138)
(140)
(141)
(140)
(140)
(142)
(140)
(139)
(139)
(139)
(142)
(148)
(154)
(160)
(162)
(164)
(162)
(160)
(163)
(159)
(157)
(153)
(149)
(148)
(147)
(147)
(145)
(145)
(146)
(146)
(147)
(148)
(150)
(152)
(155)
(156)
(158)
(159)
(160)
(162)
(163)
(165)
(166)
(167)
(166)
(166)
Gross Profit
164
N/A
161
-2%
171
+6%
180
+5%
188
+4%
193
+3%
195
+1%
197
+1%
202
+3%
205
+1%
206
+0%
208
+1%
208
0%
210
+1%
206
-2%
206
0%
207
+1%
206
-1%
213
+4%
218
+2%
224
+3%
233
+4%
244
+5%
257
+5%
268
+4%
277
+3%
284
+3%
292
+3%
297
+2%
302
+1%
306
+1%
304
-1%
301
-1%
300
-1%
300
+0%
298
-1%
302
+1%
301
0%
299
-1%
298
0%
298
+0%
303
+2%
306
+1%
310
+1%
313
+1%
315
+1%
317
+1%
320
+1%
323
+1%
323
+0%
326
+1%
329
+1%
333
+1%
337
+1%
339
+1%
339
0%
336
-1%
331
-2%
320
-3%
310
-3%
297
-4%
283
-4%
273
-4%
263
-3%
261
-1%
261
0%
265
+2%
270
+2%
272
+1%
280
+3%
287
+3%
297
+3%
306
+3%
311
+2%
316
+2%
318
+1%
320
+1%
320
N/A
320
+0%
322
+1%
324
+0%
325
+0%
328
+1%
333
+2%
340
+2%
351
+3%
361
+3%
372
+3%
386
+4%
398
+3%
412
+3%
426
+3%
438
+3%
447
+2%
455
+2%
463
+2%
Operating Income
Operating Expenses
(89)
(89)
(89)
(89)
(90)
(93)
(96)
(99)
(100)
(106)
(112)
(118)
(125)
(128)
(123)
(122)
(122)
(118)
(123)
(123)
(123)
(124)
(128)
(133)
(138)
(140)
(142)
(144)
(146)
(147)
(148)
(147)
(147)
(126)
(107)
(86)
(66)
(75)
(73)
(73)
(65)
(72)
(74)
(75)
(69)
(78)
(78)
(80)
(75)
(83)
(84)
(84)
(78)
(86)
(86)
(86)
(79)
(85)
(86)
(86)
(83)
(86)
(86)
(85)
(84)
(85)
(87)
(89)
(91)
(92)
(93)
(95)
(97)
(98)
(101)
(99)
(99)
(97)
(96)
(95)
(93)
(93)
(92)
(93)
(95)
(98)
(100)
(103)
(106)
(107)
(110)
(112)
(114)
(115)
(116)
(116)
Selling, General & Administrative
(35)
(37)
(38)
(41)
(44)
(46)
(48)
(49)
(50)
(50)
(51)
(52)
(54)
(56)
(51)
(49)
(48)
(45)
(50)
(50)
(49)
(50)
(51)
(53)
(54)
(53)
(54)
(56)
(58)
(60)
(61)
(61)
(62)
(63)
(62)
(62)
(63)
(63)
(63)
(63)
(62)
(62)
(63)
(64)
(66)
(66)
(67)
(68)
(71)
(71)
(72)
(72)
(74)
(75)
(75)
(76)
(75)
(76)
(76)
(76)
(77)
(77)
(78)
(78)
(78)
(79)
(81)
(83)
(84)
(85)
(85)
(87)
(88)
(90)
(92)
(91)
(91)
(89)
(88)
(87)
(85)
(85)
(84)
(86)
(87)
(90)
(92)
(95)
(98)
(99)
(102)
(103)
(106)
(106)
(107)
(107)
Depreciation & Amortization
(54)
(52)
(51)
(49)
(47)
(48)
(49)
(50)
(51)
(56)
(61)
(66)
(72)
(73)
(73)
(74)
(75)
(74)
(73)
(74)
(73)
(75)
(77)
(80)
(84)
(87)
(88)
(89)
(88)
(87)
(87)
(86)
(85)
(65)
(45)
(24)
(3)
(5)
(7)
(9)
(3)
(4)
(4)
(4)
(4)
(11)
(12)
(12)
(4)
(12)
(12)
(12)
(5)
(11)
(11)
(10)
(5)
(10)
(10)
(10)
(5)
(9)
(8)
(7)
(6)
(6)
(6)
(6)
(7)
(7)
(8)
(9)
(9)
(9)
(9)
(8)
(8)
(8)
(8)
(8)
(8)
(8)
(8)
(8)
(8)
(8)
(8)
(8)
(8)
(8)
(8)
(8)
(8)
(8)
(9)
(9)
Other Operating Expenses
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2
0
0
0
(7)
(3)
0
0
(7)
(7)
(7)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Operating Income
75
N/A
73
-3%
82
+12%
91
+11%
97
+7%
99
+2%
99
-1%
99
0%
102
+3%
99
-3%
94
-5%
90
-4%
83
-8%
82
-1%
83
+2%
84
+1%
85
+1%
87
+3%
90
+3%
95
+5%
102
+7%
108
+7%
116
+8%
125
+7%
130
+4%
136
+5%
143
+5%
148
+4%
152
+2%
155
+2%
158
+2%
157
-1%
154
-2%
174
+13%
193
+11%
212
+10%
236
+11%
226
-4%
225
0%
224
0%
233
+4%
231
-1%
232
+1%
235
+1%
243
+4%
237
-2%
238
+0%
240
+1%
248
+3%
240
-3%
242
+1%
245
+1%
254
+4%
251
-1%
253
+1%
253
0%
256
+1%
245
-4%
235
-4%
224
-5%
214
-4%
197
-8%
187
-5%
178
-5%
177
-1%
175
-1%
179
+2%
181
+1%
182
+0%
188
+4%
194
+3%
202
+4%
209
+3%
213
+2%
216
+1%
219
+1%
222
+1%
223
+1%
225
+1%
227
+1%
231
+2%
232
+1%
235
+1%
240
+2%
244
+2%
253
+4%
261
+3%
269
+3%
281
+4%
292
+4%
302
+4%
314
+4%
324
+3%
332
+2%
340
+3%
348
+2%
Pre-Tax Income
Interest Income Expense
(67)
(68)
(70)
(75)
(77)
(80)
(81)
(80)
(80)
(80)
(79)
(78)
(78)
(79)
(81)
(84)
(86)
(86)
(85)
(85)
(84)
(86)
(89)
(93)
(98)
(102)
(106)
(110)
(111)
(111)
(111)
(112)
(112)
(84)
(92)
89
102
39
212
172
260
497
462
584
453
335
279
140
87
112
88
(15)
(3)
(37)
(91)
(330)
(207)
(211)
(228)
(68)
(261)
(286)
(219)
(131)
(111)
(56)
(67)
(82)
16
(68)
(59)
(21)
(170)
(108)
(217)
(332)
(413)
(444)
(360)
(94)
224
257
354
162
41
190
265
249
397
473
386
395
271
34
(54)
(80)
Non-Reccuring Items
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
0
0
0
1
0
0
0
1
1
1
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Gain/Loss on Disposition of Assets
(30)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(1)
(1)
(2)
(3)
0
0
0
0
(0)
(1)
0
0
0
0
0
0
0
(0)
(0)
(0)
0
0
(7)
(7)
0
(7)
0
0
0
0
0
(2)
0
0
0
0
0
(0)
(1)
(1)
0
(1)
(1)
(1)
0
(1)
(1)
(2)
0
(2)
(1)
0
0
0
0
(1)
0
0
0
0
(2)
(2)
(9)
Total Other Income
0
(30)
(30)
(2)
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(2)
(4)
(8)
(10)
(13)
(10)
(8)
(8)
(8)
(8)
(8)
(8)
(9)
(9)
(9)
(9)
(9)
(9)
(9)
(15)
(15)
(15)
(15)
(14)
(21)
(14)
(14)
(10)
(8)
(7)
(7)
(7)
(8)
(7)
(6)
(5)
(4)
(4)
(4)
(4)
(4)
(5)
(5)
(5)
(4)
(4)
(4)
(7)
(1)
1
(1)
(2)
(8)
(11)
(11)
(10)
(11)
(8)
(13)
(7)
50
48
54
Pre-Tax Income
(22)
N/A
(25)
-13%
(18)
+27%
14
N/A
21
+53%
20
-4%
18
-8%
19
+6%
22
+17%
19
-13%
15
-23%
12
-21%
5
-61%
3
-46%
2
-36%
0
-94%
(0)
N/A
2
N/A
5
+225%
10
+94%
18
+81%
22
+22%
28
+24%
32
+16%
33
+3%
35
+7%
37
+6%
40
+6%
41
+4%
44
+8%
47
+7%
45
-4%
43
-6%
87
+105%
96
+10%
292
+203%
324
+11%
253
-22%
425
+68%
387
-9%
485
+25%
720
+48%
685
-5%
810
+18%
688
-15%
563
-18%
509
-10%
371
-27%
326
-12%
343
+5%
321
-6%
221
-31%
236
+7%
198
-16%
147
-26%
(100)
N/A
29
N/A
14
-54%
(14)
N/A
142
N/A
(57)
N/A
(96)
-68%
(39)
+59%
41
N/A
57
+41%
110
+91%
103
-6%
91
-11%
193
+112%
116
-40%
131
+13%
177
+36%
34
-81%
100
+194%
(7)
N/A
(118)
-1 586%
(197)
-67%
(226)
-15%
(140)
+38%
127
N/A
446
+252%
487
+9%
589
+21%
400
-32%
283
-29%
435
+54%
515
+18%
507
-1%
666
+31%
753
+13%
679
-10%
695
+2%
588
-15%
414
-30%
331
-20%
314
-5%
Net Income
Tax Provision
9
9
4
(8)
(9)
(9)
(9)
(8)
(15)
(14)
(10)
(7)
0
1
1
0
(0)
0
(1)
(1)
(1)
(0)
(112)
(114)
(101)
(103)
8
12
(0)
11
11
9
6
(13)
(12)
(56)
(47)
703
703
746
740
0
(0)
0
0
(0)
(0)
(0)
(1)
(0)
(0)
(0)
0
(0)
(0)
(0)
(0)
0
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
0
0
0
1
1
0
0
0
0
(0)
(0)
(0)
0
0
0
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
0
Income from Continuing Operations
(13)
(16)
(15)
6
12
10
9
11
7
5
5
4
5
4
2
1
(0)
2
5
9
18
22
(85)
(82)
(68)
(68)
45
52
41
55
58
54
48
74
85
235
277
956
1 129
1 134
1 225
720
685
810
689
563
509
370
325
342
321
220
236
198
147
(100)
29
14
(14)
142
(57)
(96)
(40)
40
57
109
103
91
193
116
131
178
35
101
(6)
(117)
(197)
(226)
(140)
127
446
487
589
400
283
435
515
507
666
752
679
695
588
414
331
314
Net Income (Common)
(13)
N/A
(16)
-23%
(15)
+7%
6
N/A
12
+93%
11
-4%
10
-13%
11
+18%
8
-32%
5
-36%
5
-4%
4
-13%
5
+14%
4
-17%
5
+13%
3
-36%
5
+72%
14
+186%
16
+8%
20
+30%
25
+26%
22
-15%
(80)
N/A
(74)
+7%
(59)
+20%
(57)
+3%
52
N/A
56
+8%
46
-19%
58
+26%
61
+6%
58
-5%
62
+7%
88
+42%
97
+10%
247
+154%
277
+12%
956
+245%
1 129
+18%
1 134
+0%
1 225
+8%
720
-41%
685
-5%
810
+18%
689
-15%
565
-18%
516
-9%
381
-26%
338
-11%
367
+9%
338
-8%
234
-31%
247
+6%
196
-21%
147
-25%
(100)
N/A
29
N/A
14
-53%
(14)
N/A
142
N/A
(57)
N/A
(96)
-68%
(40)
+59%
40
N/A
57
+42%
109
+91%
103
-6%
91
-11%
193
+111%
116
-40%
131
+13%
178
+35%
35
-80%
101
+189%
(6)
N/A
(117)
-1 734%
(197)
-68%
(226)
-15%
(140)
+38%
127
N/A
446
+252%
487
+9%
589
+21%
400
-32%
283
-29%
435
+54%
515
+18%
507
-1%
666
+31%
752
+13%
679
-10%
695
+2%
588
-15%
414
-30%
331
-20%
314
-5%
EPS (Diluted)
-0.26
N/A
-0.31
-19%
-0.29
+6%
0.12
N/A
0.23
+92%
0.21
-9%
0.18
-14%
0.21
+17%
0.14
-33%
0.1
-29%
0.1
N/A
0.08
-20%
0.09
+13%
0.07
-22%
0.08
+14%
0.05
-38%
0.09
+80%
0.26
+189%
0.27
+4%
0.35
+30%
0.45
+29%
0.4
-11%
-1.41
N/A
-1.32
+6%
-1.05
+20%
-1.03
+2%
0.91
N/A
1.04
+14%
0.84
-19%
1.08
+29%
1.13
+5%
1.1
-3%
1.17
+6%
1.67
+43%
1.81
+8%
4.68
+159%
5.26
+12%
18.26
+247%
21.61
+18%
21.71
+0%
23.42
+8%
15.06
-36%
13.09
-13%
16.94
+29%
13.16
-22%
10.79
-18%
9.85
-9%
7.26
-26%
6.44
-11%
6.99
+9%
7.05
+1%
4.9
-30%
5.16
+5%
3.76
-27%
2.81
-25%
-2.1
N/A
0.55
N/A
0.29
-47%
-0.31
N/A
3.06
N/A
-1.24
N/A
-1.89
-52%
-0.77
+59%
0.79
N/A
1.12
+42%
2.15
+92%
2.21
+3%
1.96
-11%
3.8
+94%
2.5
-34%
2.57
+3%
3.81
+48%
0.75
-80%
1.97
+163%
-0.13
N/A
-2.52
-1 838%
-4.24
-68%
-4.87
-15%
-3.02
+38%
2.71
N/A
9.59
+254%
10.57
+10%
11.67
+10%
8.73
-25%
5.62
-36%
9.51
+69%
11.25
+18%
11.09
-1%
14.54
+31%
15.23
+5%
12.57
-17%
14.18
+13%
10.89
-23%
8.44
-22%
6.76
-20%
5.86
-13%

See Also

Summary
BEI.UN intrinsic value, competitors valuation, and company profile.
DCF Valuation
BEI.UN stock valuation using Discount Cash Flow valuation method.
Relative Valuation
BEI.UN stock valuation using valuation multiples.
Wall Street Estimates
BEI.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
BEI.UN stock discount rate: cost of equity and WACC.
Summary
DCF Valuation
Relative Valuation
Wall Street Estimates
Profitability Analysis
Solvency Analysis
Financials
Discount Rate
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