B 
Boardwalk Real Estate Investment Trust BEI.UN.TO · CAD
Real Estate · Toronto Stock Exchange · 🇨🇦 Canada
61.70
-1.30%
Close of 9 Nov 2026, in CAD
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At a glance
Figures in CAD, from our data supplier.
Revenue
C$603.3m
FY2015FY2024
Net income
C$588.2m
FY2015FY2024
Free cash flow
C$232.2m
FY2015FY2024
Shareholders' equity
C$4.84bn
FY2015FY2024
Income statement
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | C$603.3m | C$545.7m | C$494.8m | C$470.5m | C$465.6m | C$455.3m | C$434.6m | C$422.9m | C$438.8m | C$476.1m |
| Gross profit | C$437.7m | C$386.1m | C$339.7m | C$323.9m | C$320.3m | C$306.3m | C$272.0m | C$261.0m | C$296.5m | C$335.8m |
| Operating income | C$323.9m | C$280.6m | C$244.5m | C$230.9m | C$221.6m | C$209.1m | C$181.5m | C$177.1m | C$214.0m | C$256.3m |
| Net income | C$588.2m | C$666.1m | C$283.1m | C$446.3m | −C$197.3m | C$34.8m | C$193.2m | C$57.3m | −C$57.4m | C$28.8m |
| Diluted earnings per share | 10.89 | 14.54 | 5.62 | 9.59 | -4.24 | 0.75 | 3.80 | 1.12 | -1.24 | 0.55 |
Balance sheet
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | C$8.63bn | C$8.14bn | C$7.07bn | C$6.66bn | C$6.11bn | C$6.28bn | C$6.11bn | C$5.87bn | C$5.77bn | C$5.83bn |
| Cash and short-term investments | C$122.4m | C$331.2m | C$52.8m | C$64.3m | C$53.0m | C$35.2m | C$38.1m | C$70.8m | C$99.1m | C$237.0m |
| Total liabilities | C$3.79bn | C$3.82bn | C$3.60bn | C$3.41bn | C$3.23bn | C$3.16bn | C$2.98bn | C$2.89bn | C$2.75bn | C$2.62bn |
| Debt | C$3.36bn | C$3.40bn | C$3.29bn | C$3.08bn | C$3.00bn | C$2.87bn | C$2.72bn | C$2.59bn | C$2.44bn | C$2.27bn |
| Shareholders' equity | C$4.84bn | C$4.32bn | C$3.47bn | C$3.25bn | C$2.88bn | C$3.12bn | C$3.13bn | C$2.98bn | C$3.02bn | C$3.21bn |
| Shares outstanding | 54m | 46m | 50m | 47m | 47m | 46m | 51m | 51m | 46m | 52m |
Cash flow
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | C$241.2m | C$199.8m | C$160.9m | C$161.9m | C$141.1m | C$160.7m | C$107.3m | C$102.1m | C$133.7m | C$172.2m |
| Capital spending | −C$9.0m | — | −C$5.5m | — | −C$5.0m | −C$5.6m | −C$8.0m | −C$11.7m | −C$4.8m | −C$8.5m |
| Free cash flow | C$232.2m | C$199.8m | C$155.4m | C$161.9m | C$136.1m | C$155.1m | C$99.3m | C$90.4m | C$128.9m | C$163.7m |
| Dividends paid | −C$67.8m | −C$52.5m | −C$48.6m | −C$46.6m | −C$46.6m | −C$46.5m | −C$51.2m | −C$104.2m | −C$149.5m | −C$163.4m |
Latest quarters
By quarter end
| Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | C$160.8m | C$157.3m | C$155.7m | C$155.6m | C$153.4m | C$149.1m | C$145.2m | C$143.1m |
| Gross profit | C$122.0m | C$117.8m | C$110.2m | C$113.2m | C$114.3m | C$109.2m | C$101.0m | C$101.7m |
| Operating income | C$92.6m | C$88.6m | C$82.7m | C$84.0m | C$85.0m | C$80.0m | C$74.7m | C$74.4m |
| Net income | C$37.6m | C$76.3m | C$133.8m | C$66.0m | C$55.0m | C$159.0m | C$307.7m | C$173.1m |
| Diluted earnings per share | 0.70 | 1.56 | 2.73 | 0.97 | 1.12 | 2.95 | 6.23 | 3.75 |
| Total assets | C$9.05bn | C$8.77bn | C$8.69bn | C$8.63bn | C$8.64bn | C$8.54bn | C$8.44bn | C$8.14bn |
| Cash and short-term investments | C$101.9m | C$25.6m | C$27.0m | C$122.4m | C$107.6m | C$120.0m | C$182.8m | C$331.2m |
| Debt | C$2.78bn | C$2.58bn | C$2.65bn | C$2.74bn | C$2.76bn | C$2.84bn | C$2.86bn | C$2.89bn |
| Shareholders' equity | C$5.01bn | C$4.99bn | C$4.92bn | C$4.84bn | C$4.79bn | C$4.75bn | C$4.61bn | C$4.32bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 8.6% | 5.8% | 2.5% |
| Operating income | 11.9% | 9.1% | 2.5% |
| Net income | 9.6% | 76.0% | 9.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 71.7% | 70.4% | 69.7% | 68.4% |
| Operating margin | 52.6% | 51.1% | 49.8% | 49.1% |
| Net margin | 109.2% | 93.8% | 60.0% | 43.4% |
Valuation history
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 5.9 | 4.9 | 8.8 | 5.7 | -8.0 | 61.2 | 9.9 | 38.2 | -39.2 | 85.5 |
| Price to sales | 5.8 | 6.0 | 5.0 | 5.4 | 3.4 | 4.7 | 4.4 | 5.2 | 5.1 | 5.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 25 years. Last went ex-dividend on 29 Sept 2026.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 3.045 | 1.53 | 1.17 | 1.163 | 1.001 | 1.001 | 1.001 | 1.001 |
- 1.006-for-1 split · 30 Dec 2021
- 2-for-1 split · 27 Nov 1997
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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