Granite Real Estate Investment Trust
TSX:GRT.UN

Watchlist Manager
Granite Real Estate Investment Trust Logo
Granite Real Estate Investment Trust
TSX:GRT.UN
Watchlist
Price: 77.73 CAD 0.35% Market Closed
Market Cap: 4.7B CAD
Financials Section:
Income Statement Balance Sheet Cash Flow Statement

Cash Flow Statement

Operating Cash Flow
+
3Y
+41%
5Y
+59%
10Y
+129%
Investing Cash Flow
+
3Y
+91%
5Y
+91%
10Y
+4%
Financing Cash Flow
+
3Y
-
5Y
-
10Y
-510%

Cash Flow Statement
Granite Real Estate Investment Trust

Rotate your device to view
Cash Flow Statement
Currency: CAD
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
Operating Cash Flow
Net Income
17
2
16
19
(46)
(40)
(42)
(67)
(15)
(23)
(17)
(5)
18
31
34
40
109
109
104
108
(4)
(14)
(20)
(27)
(108)
(171)
(135)
(94)
(50)
11
12
(7)
68
65
52
53
58
74
88
139
150
216
218
162
143
61
44
38
64
106
128
172
196
184
193
297
281
268
253
154
358
400
506
613
465
471
421
378
382
385
362
353
430
579
820
1 137
1 310
1 578
1 138
623
156
(330)
(147)
(20)
138
216
231
309
362
317
336
292
Depreciation & Amortization
53
63
72
80
89
89
90
92
89
90
90
88
86
85
84
87
83
82
81
78
87
88
90
92
95
94
83
71
47
37
36
35
42
42
42
42
43
32
22
11
0
0
0
0
1
0
1
1
1
1
1
1
1
1
1
1
1
1
1
1
0
0
0
0
0
0
1
1
1
1
1
1
1
1
1
2
1
1
1
1
2
2
1
1
1
1
1
1
1
1
1
1
Change in Deffered Taxes
(0)
(0)
(5)
(8)
(84)
(86)
(88)
(89)
(2)
(8)
(1)
13
6
11
7
(4)
6
5
7
4
(7)
(4)
(4)
(4)
(34)
(39)
(40)
(39)
(14)
(12)
(3)
(1)
11
10
(1)
(2)
(4)
0
12
25
(7)
(45)
(59)
(76)
(42)
(7)
1
6
4
15
22
26
32
31
24
41
41
34
34
18
6
12
25
32
45
48
42
38
38
37
33
35
63
88
130
192
229
260
158
23
(71)
(150)
(93)
(42)
(16)
(0)
(0)
19
22
18
21
(6)
Stock-Based Compensation
0
0
0
0
0
0
0
0
4
0
0
0
2
0
0
0
4
0
0
0
2
0
0
1
0
0
1
1
3
3
3
2
4
4
4
4
2
2
2
2
2
2
2
2
2
3
3
3
4
4
4
0
0
1
1
2
3
3
4
4
4
4
3
3
3
4
5
5
6
4
5
6
6
7
7
7
9
9
7
4
2
6
1
1
8
(3)
2
5
4
4
5
7
Other Non-Cash Items
9
12
1
2
118
116
136
117
(5)
(11)
(52)
(9)
(72)
(62)
(53)
(95)
(134)
(137)
(137)
(132)
(2)
(4)
14
40
150
200
177
159
122
66
36
78
(28)
(29)
23
(5)
23
24
(4)
(54)
7
(16)
(2)
74
55
77
115
90
54
36
(9)
(18)
(46)
(32)
(34)
(149)
(139)
(118)
(106)
9
(173)
(215)
(323)
(445)
(311)
(323)
(266)
(204)
(201)
(190)
(151)
(132)
(223)
(388)
(661)
(1 028)
(1 229)
(1 518)
(969)
(313)
262
840
614
448
275
190
184
95
49
110
95
175
Cash Taxes Paid
13
0
0
0
23
0
0
0
17
0
0
0
16
0
0
0
24
0
0
0
11
0
0
0
15
0
0
0
14
0
0
0
10
0
0
0
15
25
28
38
29
21
28
20
12
12
4
2
4
4
3
5
6
3
3
1
0
6
3
3
4
1
6
8
10
11
10
8
3
1
(1)
2
6
7
8
4
8
8
9
20
18
20
19
10
8
7
8
8
8
9
10
10
Cash Interest Paid
65
0
0
0
64
0
0
0
34
0
0
0
51
0
0
0
50
0
0
0
53
0
0
0
47
0
0
0
19
0
0
0
18
0
0
0
18
18
26
26
16
16
17
17
17
18
22
24
19
23
14
16
17
18
18
18
21
21
21
21
19
20
21
22
24
25
28
28
29
29
28
27
33
36
38
42
43
42
50
47
53
58
65
71
73
73
78
79
80
75
85
78
Change in Working Capital
(35)
(55)
(77)
(40)
30
61
53
76
18
2
27
(4)
12
(14)
(18)
(12)
(4)
(1)
20
18
9
36
10
6
(0)
(1)
0
3
14
18
15
9
(2)
9
16
11
(8)
(10)
(9)
(8)
(34)
(43)
(49)
(36)
(29)
(43)
(42)
(53)
(30)
(18)
(18)
(16)
(22)
(17)
(15)
(25)
(24)
(27)
(31)
(30)
(32)
(48)
(47)
(40)
(42)
(35)
(32)
(44)
(37)
(36)
(32)
(21)
(27)
(26)
(37)
(35)
(50)
(53)
(62)
(69)
(71)
(71)
(80)
(86)
(85)
(94)
(94)
(82)
(96)
(83)
(93)
(87)
Cash from Operating Activities
44
N/A
21
-52%
7
-68%
52
+694%
106
+103%
139
+31%
148
+6%
129
-13%
86
-33%
50
-41%
47
-7%
83
+76%
50
-40%
51
+3%
55
+7%
16
-71%
60
+272%
59
-3%
73
+25%
76
+4%
83
+9%
102
+23%
90
-12%
107
+19%
103
-3%
82
-21%
85
+3%
101
+19%
120
+19%
121
+1%
96
-20%
115
+19%
92
-20%
97
+5%
132
+36%
100
-25%
112
+12%
119
+6%
109
-8%
114
+4%
116
+2%
113
-3%
109
-3%
124
+14%
128
+3%
89
-31%
118
+33%
82
-31%
93
+13%
140
+51%
124
-11%
164
+32%
160
-3%
168
+5%
169
+1%
165
-3%
160
-3%
157
-2%
151
-4%
151
0%
159
+5%
150
-5%
161
+8%
161
0%
158
-2%
161
+2%
166
+3%
168
+1%
183
+9%
198
+8%
213
+8%
236
+11%
244
+4%
254
+4%
253
0%
267
+5%
262
-2%
269
+2%
267
-1%
266
0%
278
+4%
291
+5%
296
+2%
303
+2%
313
+3%
313
0%
322
+3%
343
+6%
339
-1%
364
+7%
360
-1%
376
+4%
Investing Cash Flow
Capital Expenditures
(419)
(442)
(441)
(267)
(302)
(269)
(263)
(296)
(290)
(300)
(294)
(276)
(233)
(225)
(221)
(187)
(132)
(104)
(89)
(96)
(106)
(101)
(82)
(67)
(52)
(43)
(33)
(22)
(9)
(6)
(5)
(7)
(10)
(20)
(32)
(40)
(49)
(44)
(37)
(35)
(32)
(30)
(34)
(31)
(30)
(31)
(28)
(35)
(44)
(48)
(44)
(36)
(27)
(24)
(28)
(25)
(0)
8
16
18
(1)
(1)
(0)
(0)
(1)
(1)
(1)
(1)
(0)
(1)
(1)
(1)
(2)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
0
(0)
(0)
Other Items
(211)
(209)
(232)
(226)
(2)
2
35
48
26
24
31
34
48
51
37
72
270
263
258
215
5
3
21
22
18
(49)
(78)
(91)
(101)
(16)
(34)
(9)
1
(23)
(40)
(54)
(48)
(39)
3
4
6
(9)
(20)
(48)
(224)
(190)
(71)
(45)
64
41
(75)
(60)
6
17
46
41
12
(68)
(91)
(108)
(237)
109
(202)
25
97
(321)
(247)
(515)
(876)
(785)
(974)
(1 021)
(1 065)
(1 101)
(802)
(1 135)
(1 025)
(1 135)
(1 304)
(1 054)
(766)
(622)
(373)
(201)
(128)
(81)
(54)
(67)
(65)
(63)
(96)
(92)
Cash from Investing Activities
(630)
N/A
(651)
-3%
(673)
-3%
(493)
+27%
(304)
+38%
(267)
+12%
(228)
+15%
(248)
-9%
(264)
-6%
(276)
-4%
(263)
+4%
(242)
+8%
(184)
+24%
(174)
+6%
(185)
-6%
(115)
+38%
137
N/A
160
+16%
169
+6%
120
-29%
(101)
N/A
(99)
+2%
(61)
+38%
(45)
+27%
(34)
+24%
(92)
-171%
(110)
-20%
(112)
-2%
(110)
+2%
(22)
+80%
(39)
-74%
(16)
+59%
(10)
+40%
(42)
-340%
(72)
-71%
(95)
-31%
(96)
-2%
(83)
+14%
(34)
+59%
(32)
+8%
(25)
+20%
(40)
-56%
(54)
-36%
(79)
-47%
(254)
-222%
(221)
+13%
(98)
+56%
(79)
+19%
20
N/A
(7)
N/A
(119)
-1 647%
(97)
+19%
(21)
+78%
(6)
+70%
17
N/A
17
-5%
12
-28%
(61)
N/A
(75)
-23%
(90)
-21%
(238)
-164%
109
N/A
(203)
N/A
25
N/A
96
+279%
(322)
N/A
(249)
+23%
(516)
-108%
(876)
-70%
(786)
+10%
(975)
-24%
(1 022)
-5%
(1 067)
-4%
(1 102)
-3%
(803)
+27%
(1 136)
-42%
(1 025)
+10%
(1 136)
-11%
(1 305)
-15%
(1 055)
+19%
(767)
+27%
(622)
+19%
(373)
+40%
(201)
+46%
(128)
+36%
(82)
+36%
(55)
+33%
(67)
-23%
(65)
+3%
(63)
+4%
(96)
-54%
(92)
+4%
Financing Cash Flow
Net Issuance of Common Stock
0
0
0
0
0
0
1
1
2
4
3
4
3
1
1
1
1
3
3
(12)
(55)
0
0
(43)
0
0
0
0
0
0
0
0
0
0
7
7
7
8
(1)
(1)
(2)
(1)
3
3
3
3
2
2
2
0
0
0
0
0
0
0
2
2
2
(4)
(12)
(63)
(73)
(67)
(64)
(12)
218
218
502
477
534
534
528
0
579
579
303
305
(17)
(73)
(142)
(144)
(126)
(69)
(27)
0
(71)
(71)
(46)
(110)
(147)
(147)
Net Issuance of Debt
168
116
329
329
142
17
(193)
(152)
369
317
338
262
(16)
(34)
(60)
8
(28)
(29)
(51)
(50)
(8)
(3)
18
(2)
(7)
(14)
(4)
(11)
(4)
3
25
36
13
11
0
(36)
(15)
(13)
(25)
0
0
15
30
60
250
229
218
131
13
17
9
60
(36)
(29)
(33)
(31)
87
83
90
95
31
(2)
88
5
516
549
458
541
(1)
(0)
498
497
994
740
242
741
243
509
743
560
566
558
360
56
47
43
8
(3)
(29)
(20)
61
48
Cash Paid for Dividends
0
0
0
0
0
(6)
(12)
(17)
(23)
0
(25)
(28)
(32)
0
(34)
(33)
(33)
0
(33)
(32)
(31)
0
(29)
(28)
(30)
0
(33)
(33)
(32)
0
(30)
(27)
(24)
0
(19)
(18)
(38)
(38)
(76)
(94)
(94)
(110)
(88)
(89)
(90)
(100)
(101)
(102)
(103)
(105)
(106)
(107)
(108)
(108)
(110)
(112)
(113)
(117)
(119)
(121)
(123)
(124)
(124)
(125)
(125)
(139)
(142)
(145)
(151)
(144)
(149)
(157)
(163)
(170)
(178)
(185)
(191)
(196)
(200)
(202)
(202)
(202)
(202)
(203)
(204)
(205)
(206)
(207)
(208)
(209)
(209)
(209)
Other
501
553
329
159
78
212
187
202
29
65
0
66
25
22
22
(8)
(37)
(54)
(53)
(22)
(0)
23
10
10
(15)
(14)
(2)
(2)
(2)
0
(61)
(123)
(120)
(120)
(62)
0
0
(0)
(0)
(0)
(0)
(1)
1
0
(1)
(1)
(2)
(3)
(2)
(2)
(2)
(0)
(0)
(0)
(0)
(1)
(16)
(17)
(16)
(16)
(2)
(2)
(2)
(2)
(3)
(2)
(2)
(2)
(7)
(7)
(7)
(7)
(0)
(22)
(22)
(22)
(22)
(7)
(7)
(7)
(7)
(1)
(1)
(1)
(19)
(19)
(19)
(19)
15
15
15
15
Cash from Financing Activities
669
N/A
669
+0%
657
-2%
488
-26%
219
-55%
223
+1%
(16)
N/A
34
N/A
377
+1 006%
369
-2%
382
+3%
304
-20%
(19)
N/A
(43)
-125%
(71)
-66%
(33)
+54%
(97)
-194%
(113)
-17%
(135)
-19%
(117)
+14%
(94)
+19%
(67)
+29%
(56)
+16%
(64)
-13%
(51)
+19%
(58)
-12%
(39)
+32%
(46)
-17%
(38)
+17%
(32)
+16%
(65)
-105%
(113)
-74%
(131)
-16%
(133)
-2%
(74)
+45%
(48)
+35%
(46)
+4%
(43)
+6%
(102)
-137%
(96)
+6%
(96)
+0%
(97)
-1%
(54)
+44%
(25)
+53%
162
N/A
132
-19%
117
-12%
28
-76%
(91)
N/A
(90)
+1%
(98)
-10%
(48)
+52%
(144)
-203%
(137)
+5%
(143)
-4%
(143)
0%
(40)
+72%
(49)
-23%
(44)
+11%
(46)
-7%
(105)
-127%
(191)
-81%
(111)
+42%
(189)
-71%
324
N/A
395
+22%
532
+35%
612
+15%
344
-44%
325
-5%
875
+169%
867
-1%
1 358
+57%
1 101
-19%
621
-44%
1 113
+79%
334
-70%
612
+83%
519
-15%
279
-46%
215
-23%
211
-2%
31
-85%
(217)
N/A
(203)
+6%
(208)
-3%
(289)
-39%
(301)
-4%
(267)
+11%
(322)
-20%
(278)
+14%
(290)
-5%
Change in Cash
Effect of Foreign Exchange Rates
(3)
0
1
2
22
16
15
17
9
6
1
0
(7)
(1)
5
2
4
5
5
10
10
12
8
(4)
(18)
(24)
(20)
(7)
6
8
1
(1)
(8)
(5)
(2)
(3)
2
0
0
(4)
(1)
(1)
2
3
8
12
6
5
(2)
(6)
0
7
8
6
2
(3)
(5)
(1)
6
2
7
16
6
5
11
(6)
(3)
(1)
(10)
4
7
4
(3)
(13)
(10)
(4)
1
4
(2)
6
7
9
8
(1)
(1)
(0)
3
0
4
5
1
3
Net Change in Cash
80
N/A
40
-50%
(9)
N/A
49
N/A
43
-11%
111
+157%
(81)
N/A
(68)
+16%
208
N/A
149
-28%
165
+11%
145
-12%
(160)
N/A
(166)
-4%
(196)
-18%
(129)
+34%
105
N/A
110
+4%
113
+3%
89
-21%
(103)
N/A
(52)
+50%
(19)
+63%
(6)
+71%
1
N/A
(92)
N/A
(85)
+8%
(65)
+24%
(23)
+65%
75
N/A
(7)
N/A
(15)
-126%
(57)
-279%
(83)
-47%
(16)
+81%
(45)
-193%
(28)
+38%
(7)
+75%
(27)
-286%
(18)
+33%
(6)
+68%
(25)
-319%
3
N/A
23
+652%
44
+91%
12
-73%
143
+1 088%
36
-75%
21
-42%
38
+82%
(93)
N/A
27
N/A
3
-90%
30
+964%
46
+53%
36
-22%
127
+257%
46
-63%
38
-18%
16
-59%
(177)
N/A
84
N/A
(146)
N/A
2
N/A
589
+30 916%
227
-61%
447
+96%
263
-41%
(360)
N/A
(259)
+28%
120
N/A
84
-30%
533
+533%
239
-55%
61
-74%
239
+293%
(429)
N/A
(252)
+41%
(520)
-106%
(505)
+3%
(267)
+47%
(111)
+58%
(38)
+65%
(116)
-202%
(19)
+84%
23
N/A
(19)
N/A
(25)
-36%
10
N/A
(16)
N/A
(13)
+17%
(4)
+70%
Free Cash Flow
Free Cash Flow
(376)
N/A
(421)
-12%
(435)
-3%
(214)
+51%
(196)
+9%
(130)
+34%
(115)
+11%
(168)
-46%
(204)
-22%
(250)
-22%
(247)
+1%
(194)
+22%
(183)
+6%
(174)
+5%
(166)
+4%
(171)
-3%
(72)
+58%
(45)
+38%
(16)
+64%
(20)
-22%
(23)
-18%
0
N/A
8
+1 850%
40
+415%
51
+28%
39
-24%
52
+34%
79
+51%
111
+40%
115
+4%
91
-21%
108
+18%
82
-24%
77
-5%
100
+29%
59
-41%
64
+7%
75
+18%
72
-4%
78
+8%
84
+8%
83
-2%
75
-9%
94
+24%
98
+5%
58
-41%
91
+56%
47
-48%
49
+3%
92
+90%
80
-13%
128
+60%
133
+4%
144
+8%
141
-2%
140
-1%
160
+14%
165
+3%
167
+1%
168
+1%
158
-6%
150
-5%
161
+8%
161
+0%
157
-3%
160
+2%
165
+3%
167
+1%
183
+10%
197
+7%
212
+8%
235
+11%
243
+3%
253
+4%
252
0%
266
+5%
262
-2%
268
+2%
266
-1%
265
0%
277
+4%
290
+5%
295
+2%
302
+2%
313
+3%
313
0%
322
+3%
343
+6%
338
-1%
364
+8%
360
-1%
376
+4%

See Also

Summary
GRT.UN intrinsic value, competitors valuation, and company profile.
DCF Valuation
GRT.UN stock valuation using Discount Cash Flow valuation method.
Relative Valuation
GRT.UN stock valuation using valuation multiples.
Wall Street Estimates
GRT.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
GRT.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
ALPHA SPREAD
Follow us
Join more than 302,900+ value investors using Alpha Spread
Create Free Account
or see our plans & pricing

Company

About Us Careers Pricing Affiliate Program Terms of Service Privacy Policy

Help

What is Intrinsic Value? Help Center Contact Us

Tools

Stock Screener Intrinsic Value Calculator DCF Value Calculator Discount Rate Calculator

Stocks

Most Undervalued Stocks Wide Economic Moat Stocks High Profitability Stocks High Solvency Stocks Most Popular Stocks

© 2025 Alpha Spread Limited. All Rights Reserved.

www.alphaspread.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on www.alphaspread.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. In no event shall Alpha Spread Limited be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on www.alphaspread.com, or relating to the use of, or inability to use, www.alphaspread.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance.