Granite Real Estate Investment Trust
TSX:GRT.UN

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Granite Real Estate Investment Trust Logo
Granite Real Estate Investment Trust
TSX:GRT.UN
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Price: 69.19 CAD -0.93% Market Closed
Market Cap: 4.2B CAD
Financials Section:
Income Statement Balance Sheet Cash Flow Statement

Income Statement

0
Revenue
+0%
3Y
+44%
5Y
+103%
10Y
+182%
0
Operating Income
+0%
3Y
+48%
5Y
+103%
10Y
+159%
0
Net Income
+0%
3Y
-80%
5Y
-18%
10Y
+186%

Earnings Waterfall
Granite Real Estate Investment Trust

Revenue
584.9m CAD
Cost of Revenue
-101.7m CAD
Gross Profit
483.1m CAD
Operating Expenses
-35.8m CAD
Operating Income
447.4m CAD
Other Expenses
-132m CAD
Net Income
315.4m CAD

Income Statement
Granite Real Estate Investment Trust

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Income Statement
Currency: CAD
Millions
Ones
Thousands
Millions
Billions
TTM
Quarterly
Annual
TTM
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
Revenue
Interest Expense
22
20
19
19
20
20
20
20
20
19
19
20
21
21
22
22
24
27
28
30
29
29
32
36
40
42
42
43
43
44
46
51
58
66
73
79
83
86
89
90
92
Revenue
208
N/A
209
+1%
212
+2%
216
+2%
220
+2%
223
+1%
224
+1%
223
0%
228
+2%
232
+2%
236
+2%
245
+4%
246
+0%
247
+1%
250
+1%
248
-1%
249
+1%
255
+2%
260
+2%
274
+5%
288
+5%
301
+5%
321
+6%
340
+6%
358
+5%
371
+4%
381
+3%
394
+3%
406
+3%
422
+4%
435
+3%
456
+5%
477
+5%
497
+4%
517
+4%
521
+1%
531
+2%
541
+2%
551
+2%
569
+3%
585
+3%
Gross Profit
Cost of Revenue
(7)
(6)
(7)
(7)
(7)
(7)
(8)
(8)
(13)
(20)
(25)
(31)
(31)
(31)
(32)
(31)
(31)
(33)
(33)
(35)
(37)
(38)
(41)
(47)
(51)
(55)
(58)
(61)
(64)
(67)
(71)
(75)
(80)
(85)
(90)
(86)
(88)
(90)
(90)
(97)
(102)
Gross Profit
201
N/A
203
+1%
206
+2%
209
+2%
212
+1%
215
+1%
216
+1%
216
0%
214
-1%
212
-1%
211
-1%
213
+1%
214
+0%
216
+1%
219
+1%
217
-1%
218
+1%
222
+2%
227
+2%
238
+5%
251
+5%
263
+5%
280
+6%
293
+5%
307
+5%
316
+3%
324
+3%
333
+3%
342
+3%
355
+4%
364
+3%
380
+4%
397
+4%
412
+4%
428
+4%
435
+2%
442
+2%
451
+2%
461
+2%
472
+2%
483
+2%
Operating Income
Operating Expenses
(28)
(29)
(30)
(29)
(29)
(29)
(28)
(29)
(28)
(34)
(34)
(32)
(34)
(27)
(29)
(30)
(30)
(32)
(31)
(32)
(30)
(30)
(33)
(33)
(37)
(36)
(35)
(40)
(39)
(37)
(35)
(31)
(37)
(40)
(42)
(43)
(37)
(35)
(40)
(37)
(36)
Selling, General & Administrative
(27)
(28)
(29)
(28)
(29)
(29)
(28)
(28)
(27)
(28)
(27)
(26)
(28)
(27)
(29)
(29)
(30)
(31)
(31)
(31)
(29)
(30)
(32)
(32)
(35)
(35)
(34)
(38)
(38)
(36)
(33)
(30)
(36)
(39)
(41)
(41)
(36)
(34)
(38)
(35)
(34)
Depreciation & Amortization
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(0)
(0)
(0)
(0)
(0)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(2)
(1)
(2)
(2)
(2)
(2)
(2)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
Other Operating Expenses
0
0
0
0
0
0
0
0
0
(6)
(6)
(6)
(6)
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
172
N/A
174
+1%
176
+1%
180
+3%
183
+1%
186
+2%
188
+1%
187
-1%
187
0%
178
-5%
178
0%
181
+2%
181
0%
189
+5%
189
+0%
187
-1%
188
+0%
191
+1%
196
+3%
206
+5%
221
+7%
233
+5%
246
+6%
260
+6%
270
+4%
280
+4%
289
+3%
293
+1%
303
+3%
318
+5%
330
+4%
349
+6%
359
+3%
372
+4%
386
+4%
393
+2%
405
+3%
415
+3%
421
+1%
435
+3%
447
+3%
Pre-Tax Income
Interest Income Expense
(20)
9
27
52
35
37
156
153
136
128
14
191
240
351
470
337
345
285
226
222
209
170
149
239
408
684
1 053
1 262
1 546
988
326
(257)
(832)
(604)
(439)
(264)
(182)
(175)
(83)
(39)
(100)
Non-Reccuring Items
0
0
0
0
0
0
0
0
0
0
(0)
(1)
(1)
(3)
(8)
(8)
(8)
(6)
(0)
0
0
0
0
0
(4)
(4)
(4)
(4)
0
0
0
0
0
0
0
0
(0)
(1)
(2)
(3)
(3)
Total Other Income
(28)
(28)
0
0
0
0
0
(12)
(12)
(12)
(12)
0
0
2
2
2
2
0
0
(3)
(3)
(3)
(3)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Pre-Tax Income
124
N/A
154
+24%
203
+31%
232
+14%
218
-6%
223
+3%
344
+54%
328
-4%
311
-5%
295
-5%
179
-39%
371
+107%
420
+13%
540
+29%
654
+21%
518
-21%
527
+2%
469
-11%
422
-10%
425
+1%
427
+0%
400
-6%
393
-2%
499
+27%
674
+35%
960
+42%
1 338
+39%
1 551
+16%
1 849
+19%
1 306
-29%
655
-50%
92
-86%
(472)
N/A
(232)
+51%
(53)
+77%
129
N/A
222
+72%
239
+7%
336
+41%
393
+17%
344
-13%
Net Income
Tax Provision
(18)
(26)
(31)
(36)
(34)
(30)
(47)
(48)
(43)
(42)
(26)
(13)
(20)
(33)
(41)
(53)
(55)
(48)
(44)
(43)
(41)
(37)
(40)
(69)
(95)
(140)
(201)
(241)
(271)
(167)
(32)
64
142
85
34
9
(7)
(7)
(27)
(31)
(27)
Income from Continuing Operations
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
Income to Minority Interest
(1)
(3)
(2)
(2)
(3)
(1)
(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)
(2)
(0)
(1)
(2)
0
(2)
(1)
(1)
(1)
Net Income (Common)
110
N/A
126
+14%
170
+35%
193
+14%
181
-6%
193
+6%
295
+53%
279
-5%
267
-4%
253
-5%
154
-39%
358
+133%
400
+12%
506
+27%
613
+21%
465
-24%
471
+1%
421
-11%
377
-10%
382
+1%
385
+1%
362
-6%
353
-3%
430
+22%
579
+35%
820
+42%
1 137
+39%
1 310
+15%
1 578
+20%
1 138
-28%
623
-45%
156
-75%
(332)
N/A
(147)
+56%
(21)
+86%
137
N/A
216
+58%
230
+6%
308
+34%
361
+17%
315
-13%
EPS (Diluted)
2.38
N/A
2.71
+14%
3.72
+37%
4.11
+10%
3.85
-6%
4.17
+8%
6.37
+53%
5.93
-7%
5.67
-4%
5.35
-6%
3.26
-39%
7.59
+133%
8.63
+14%
11.05
+28%
13.38
+21%
10.13
-24%
9.87
-3%
8.71
-12%
7.62
-13%
7.8
+2%
7.11
-9%
6.59
-7%
6.09
-8%
7.22
+19%
9.37
+30%
12.02
+28%
17.27
+44%
20.47
+19%
23.97
+17%
17.29
-28%
9.54
-45%
2.39
-75%
-5.19
N/A
-2.3
+56%
-0.32
+86%
2.14
N/A
3.39
+58%
3.62
+7%
4.89
+35%
5.71
+17%
5.04
-12%

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
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