# Dream Unlimited Corp. (DRM.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Real Estate / Real Estate Management & Development. Price C$18.13, market value C$760 million.

## Valuation
- **P/E (trailing): 86.3×** (5-yr avg 8.0×, 3-yr avg 4.9×). Dream Unlimited Corp. trades at 86.3× trailing earnings, well above its own five-year average of 8.0×: investors are paying up relative to the company's past. The Real Estate median in the September 2026 study was 25.2×. Forward P/E is 10.9×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 1.6×**. Each dollar of revenue is priced at 1.6×.
- **Price / book: 0.5×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **EV / EBITDA: 24.7×**. Enterprise value is 24.7× operating earnings before depreciation, the multiple that ignores how the company is financed; above 20× is demanding.
- **Free-cash-flow yield: 6.4%** (5-yr avg -9.4%). Free cash flow equals 6.4% of the market value, above its five-year average of -9.4%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 1.2%**. The inverse of the P/E: 1.2% of the price is earned each year.

## Profitability
- **Gross margin: 41.1%**. Dream Unlimited Corp. keeps 41.1% of revenue after the direct cost of what it sells.
- **Operating margin: 27.7%**. 27.7% of revenue is left after running the business, an exceptional level.
- **Net margin: -4.0%**. The company reported a net loss over the last twelve months.
- **Return on equity: -1.3%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: 2.0%**. Return on all capital, debt included, is 2.0%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 0.2%**. Each dollar of assets produces 0.2% of profit.

## Growth
- **Revenue growth (1 yr): -25.9%** (3-yr 10.4%/yr, 5-yr 5.9%/yr). Revenue fell 25.9% over the last year, against 5.9% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -110.5%**. Earnings per share fell 110.5%, slower than revenue, so margins compressed.

## Financial health
- **Debt to equity: 1.32**. Debt is 1.32 times equity, a leveraged balance sheet, which is normal for real estate.
- **Net debt / EBITDA: 17.4×**. It would take 17.4 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Interest coverage: 1.8×**. Operating profit covers interest 1.8×, thin but manageable.
- **Altman Z-score: 1.04**. A Z-score of 1.04 is in the distress zone, a signal to examine the balance sheet closely.
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 3.86%** (C$0.68 per share, trailing). Dream Unlimited Corp. yields 3.86%, an income-level yield.
- **Dividend growth (5 yr): 22.1%/yr** (1-yr -59.3%). The dividend has compounded at 22.1% a year over five years, doubling roughly every 3 years at that pace.
- **Shareholder yield: 5.4%**. Dividends plus net buybacks return 5.4% of the market value a year.

## Price and momentum
- **Total return (1 yr): -9.3%** (YTD -4.4%, 3-mo -8.4%). The shares are down 9.3% over twelve months including dividends.
- **From 52-week high: -20.0%** (6.6% above the low). Trading 20% below its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 41**. An RSI of 41 is neutral.
- **Beta (1 yr): 0.72** (volatility 28%). Beta of 0.72 against the S&P/TSX Composite: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=DRM.TO · Page: https://foliofundamentals.com/stocks/drm.to

Not investment advice.