Financials Flagship Communities Real Estate Investment Trust Toronto S.E.

Equities

MHC.U

CA33843T1084

Residential REITs

End-of-day quote Toronto S.E. 5-day change 1st Jan Change
- PTS -.--% Intraday chart for Flagship Communities Real Estate Investment Trust -.--% -.--%

Valuation

Fiscal Period: December 2022 2023 2024 2025 2026
Capitalization 1 227.4 244.5 272.1 - -
Enterprise Value (EV) 2 227.4 244.5 678.3 681.6 272.1
P/E ratio - - - - -
Yield - - - - -
Capitalization / Revenue 3.87 x 3.44 x 3.2 x 2.92 x 2.78 x
EV / Revenue 3.87 x 3.44 x 7.98 x 7.33 x 2.78 x
EV / EBITDA 7.31 x 6.47 x 14.8 x 13.3 x 5.23 x
EV / FCF - 41.6 x 30.8 x 40.1 x -
FCF Yield - 2.4% 3.24% 2.49% -
Price to Book - - - - -
Nbr of stocks (in thousands) 14,141 15,492 19,402 - -
Reference price 3 21.80 20.92 19.20 19.20 19.20
Announcement Date 16/03/23 14/03/24 - - -
1CAD in Million2USD in Million3
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 30.51 8.304 43.08 58.8 71.05 84.97 93.05 98
EBITDA 1 - 4.239 22.88 31.11 37.8 45.94 51.25 52
EBIT - - - - - - - -
Operating Margin - - - - - - - -
Earnings before Tax (EBT) - - 60.01 - - - - -
Net income 1 48.66 - 60.01 - 65.1 30.28 30.06 -
Net margin 159.47% - 139.31% - 91.62% 35.64% 32.3% -
EPS - - - - - - - -
Free Cash Flow 1 - - - - 5.871 22 17 -
FCF margin - - - - 8.26% 25.89% 18.27% -
FCF Conversion (EBITDA) - - - - 15.53% 47.89% 33.17% -
FCF Conversion (Net income) - - - - 9.02% 72.65% 56.56% -
Dividend per Share - - - - - - - -
Announcement Date 28/09/20 19/03/21 16/03/22 16/03/23 14/03/24 - - -
1USD in Million
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2023 Q2 2023 Q3 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 12.19 13.69 17.38 18.15 - 21.06 22.07 22.15 23.26 23.4
EBITDA 1 6.536 7.509 9.372 9.49 10.66 11.1 - - - -
EBIT - - - - - - - - - -
Operating Margin - - - - - - - - - -
Earnings before Tax (EBT) 53.45 2.433 - - - - - - - -
Net income 1 53.45 2.433 - 28.98 - 6.171 6.591 6.632 7.239 7.313
Net margin 438.41% 17.77% - 159.63% - 29.31% 29.86% 29.95% 31.12% 31.25%
EPS - - - - - - - - - -
Dividend per Share - - - - - - - - - -
Announcement Date 16/03/22 09/05/22 08/08/23 14/11/23 07/05/24 - - - - -
1USD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - 406 410 -
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) - - - - - 8.842 x 7.991 x -
Free Cash Flow 1 - - - - 5.87 22 17 -
ROE (net income / shareholders' equity) - - - - - - - -
ROA (Net income/ Total Assets) - - - - - - - -
Assets 1 - - - - - - - -
Book Value Per Share - - - - - - - -
Cash Flow per Share - - - - - - - -
Capex 1 - 0.32 0.9 - - 2.2 2.1 -
Capex / Sales - 3.85% 2.08% - - 2.59% 2.26% -
Announcement Date 28/09/20 19/03/21 16/03/22 16/03/23 14/03/24 - - -
1USD in Million
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Quarterly revenue - Rate of surprise

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