Real Estate Split Corp. (RS.TO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-70.3%

CA$2.46

vs CA$8.29 price

Levered DCF

-CA$7.88

After debt service

Piotroski score

—

Altman Z-score

—

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
P/E	9.7×	-12.74×	13.12×	-3.12×	3.03×	-90.63×
P/B	0.98×	1.15×	0.62×	0.82×	0.73×	1.08×
P/S	13.13×	21.11×	9.68×	17.37×	27.22×	97.12×
EV / EBITDA	8.71×	-18.25×	11.82×	-2.85×	2.75×	-83.43×
Gross margin	70.1%	71.9%	72.1%	66.4%	48.9%	73.3%
Operating margin	64.2%	65.3%	62.6%	57.7%	34.0%	17.0%
Net margin	135.3%	-113.9%	74.0%	-555.7%	898.2%	-107.2%
Current ratio	1.89×	1.96×	2.14×	2.22×	2.84×	2.31×
Debt / equity	0×	0×	0×	0.01×	0.01×	0×
Interest coverage	0×	1,123.16×	123.88×	113.46×	131.85×	27.1×
Dividend yield	17.1%	9.3%	18.8%	10.8%	7.1%	0.0%
Payout ratio	166.0%	-172.9%	245.5%	-33.7%	21.7%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Return on equity	10.1%	-6.2%	4.8%	-26.1%	24.2%	-1.2%
Return on invested capital	4.5%	3.5%	3.9%	2.7%	0.9%	0.2%
Return on assets	4.8%	-3.0%	2.5%	-14.3%	15.7%	-0.7%
Free cash flow yield	5.8%	-61.6%	-53.6%	-106.7%	-70.9%	-152.1%
Earnings yield	10.3%	-5.4%	7.7%	-32.0%	33.0%	-1.1%
Enterprise value	CA$102M	CA$118.9M	CA$46.3M	CA$49.3M	CA$34.1M	CA$21.1M
Net debt / EBITDA	-0.43×	1.72×	-0.88×	0.28×	-0.26×	9.73×
Cash conversion cycle (days)	13	1	12	7	31	-1,224