Vital Infrastructure Property Trust (VITL-UN.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

-119.6%

-CA$0.91

vs CA$4.65 price

Levered DCF

CA$3.15

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

0.69

Distress zone

Rating

C+

Overall 2 / 5

Ratios by fiscal year

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

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-24.33×	-3.65×	-3.74×	17.92×	4.67×	7.12×	22.94×	15.05×
P/B	0.84×	0.7×	0.65×	0.92×	1.19×	1.36×	1.27×	1.04×
P/S	3.3×	2.37×	2.55×	5.02×	7.63×	5.97×	4.57×	2.81×
EV / EBITDA	14.76×	-24.11×	-19.5×	15.8×	6.83×	9.73×	14.32×	10.82×
Gross margin	70.2%	75.6%	76.1%	77.6%	81.7%	79.6%	79.3%	77.2%
Operating margin	55.6%	66.3%	67.8%	79.9%	95.3%	105.0%	39.5%	80.6%
Net margin	-13.7%	-64.8%	-68.4%	28.0%	163.3%	84.1%	20.0%	18.8%
Current ratio	0.51×	0.43×	0.28×	1.01×	0.19×	0.32×	1.39×	0.32×
Debt / equity	0.92×	1.93×	1.97×	1.5×	1.23×	1.7×	2.07×	2.97×
Interest coverage	1.49×	1.55×	1.47×	2.19×	3.49×	3.8×	1.11×	1.97×
Dividend yield	6.0%	7.2%	11.5%	6.9%	4.8%	6.0%	6.0%	9.0%
Payout ratio	-145.7%	-26.2%	-42.8%	124.3%	22.5%	42.5%	136.6%	134.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-3.5%	-19.2%	-17.4%	5.1%	25.6%	19.2%	5.6%	6.9%
Return on invested capital	4.8%	4.5%	4.5%	2.8%	4.3%	6.1%	1.2%	3.4%
Return on assets	-1.5%	-5.0%	-4.6%	1.5%	8.7%	5.4%	1.3%	1.3%
Free cash flow yield	12.6%	7.8%	8.1%	9.9%	4.4%	8.4%	6.9%	9.5%
Earnings yield	-4.2%	-27.3%	-26.8%	5.6%	21.4%	14.1%	4.4%	6.7%
Enterprise value	CA$2.6B	CA$4.1B	CA$5.1B	CA$5.8B	CA$5.7B	CA$4.9B	CA$4.2B	CA$3.7B
Net debt / EBITDA	7.42×	-17.6×	-14.59×	9.71×	3.43×	5.28×	8.63×	7.99×
Cash conversion cycle (days)	-215	-328	-338	-453	-410	-497	151	-291