# Minto Apartment Real Estate Investment Trust (MI-UN.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Real Estate / Equity Real Estate Investment Trusts (REITs). Price C$17.99, market value C$1.1 billion.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Minto Apartment Real Estate Investment Trust reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 7.1×**. Each dollar of revenue is priced at 7.1×.
- **Price / book: 0.9×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **Free-cash-flow yield: 3.2%** (5-yr avg 7.2%). Free cash flow equals 3.2% of the market value, below its five-year average of 7.2%, so the shares are pricier on cash than usual.

## Profitability
- **Gross margin: 64.1%**. Minto Apartment Real Estate Investment Trust keeps 64.1% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: -4.4%**. Operating margin is negative: the business loses money before interest and tax.
- **Net margin: -155.0%**. The company reported a net loss over the last twelve months.
- **Return on equity: -30.1%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: -0.4%**. Return on all capital, debt included, is -0.4%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -15.0%**. Each dollar of assets produces -15.0% of profit.

## Growth
- **Revenue growth (1 yr): 0.3%** (3-yr 3.1%/yr, 5-yr 4.7%/yr). Revenue grew 0.3% over the last year, against 4.7% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -341.3%**. Earnings per share fell 341.3%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): -12.8%/yr**. Free cash flow has compounded at -12.8% a year over three years.

## Financial health
- **Debt to equity: 1.46**. Debt is 1.46 times equity, a leveraged balance sheet, which is normal for real estate.
- **Net debt / EBITDA: net cash**. Minto Apartment Real Estate Investment Trust holds more cash than debt.
- **Interest coverage: -0.2×**. Operating profit covers interest only -0.2×: fragile.
- **Current ratio: 0.70** (quick 0.70). Current liabilities exceed current assets, so the company depends on ongoing cash generation or refinancing to pay the next year's bills.
- **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: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 2.97%** (C$0.53 per share, trailing). Minto Apartment Real Estate Investment Trust yields 2.97%, a modest yield more typical of a growth-oriented payer.
- **Dividend growth (5 yr): 1.8%/yr** (1-yr -2.4%). The dividend has grown 1.8% a year over five years.
- **Shareholder yield: 5.1%**. Dividends plus net buybacks return 5.1% of the market value a year.

## Price and momentum
- **Total return (1 yr): 36.5%** (YTD 34.0%, 3-mo 2.6%). The shares are up 36.5% over twelve months including dividends.
- **From 52-week high: -0.1%** (39.0% above the low). Trading within 5% of its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 66**. An RSI of 66 is neutral.
- **Beta (1 yr): 0.27** (volatility 29%). Beta of 0.27 against the S&P/TSX Composite: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=MI-UN.TO · Page: https://foliofundamentals.com/stocks/mi-un.to

Not investment advice.