GRTUF · CIK 0001564538
GRANITE REAL ESTATE INVESTMENT TRUST
Annual figures as reported, FY2015–FY2024. Ratios and growth rates derived on-page.
Real Estate Investment Trusts
Company profile
Revenue
C$569.1M
▲ +9.2% vs FY2023
Net income
C$361.9M
▲ +161.3% vs FY2023
Free cash flow
C$312.9M
▲ +13.1% vs FY2022
Total assets
C$9.6B
▲ +6.1% vs FY2023
Revenue
Annual, as reported
Net income
Annual, as reported
Profitability & returns
quality of earningsMargins
Share of revenue kept at each line
Operating marginNet margin
Returns on capital
Net income vs year-end equity and assets
Return on equityReturn on assets
Cash flow
cash generationFree cash flow
Operating cash flow less capital expenditure
Operating cash flow
Net cash from operations
Shareholder returns
capital allocationCapital returned
Cash paid out as dividends and share repurchases
Dividends paidBuybacks
Balance sheet
financial positionStockholders’ equity
At fiscal year end
Net debt
Long-term debt less cash — negative means net cash
Growth rates
compounding, annualizedRevenue CAGR
+13.1%
3y
+15.8%
5y
Net income CAGR
−34.9%
3y
−1.1%
5y
Free cash flow CAGR
+8.1%
3y
+14.7%
5y
Key ratios
derived per fiscal year| Fiscal year | Op. margin | Net margin | FCF margin | ROE | ROA | Debt / equity | DPS |
|---|---|---|---|---|---|---|---|
| FY2024 | 82.9% | 63.6% | — | 6.3% | 3.8% | 0.53× | C$0.28 |
| FY2023 | 83.5% | 26.6% | 60.0% | 2.6% | 1.5% | 0.56× | C$0.27 |
| FY2022 | 83.5% | 34.2% | 60.7% | 2.8% | 1.7% | 0.53× | C$0.26 |
| FY2021 | 84.5% | 333.0% | 66.5% | 24.6% | 15.3% | 0.45× | — |
| FY2020 | 86.1% | 126.4% | 72.8% | 11.0% | 6.4% | 0.58× | — |
| FY2019 | 87.1% | 139.7% | 67.0% | 12.1% | 8.0% | 0.39× | C$0.24 |
| FY2018 | 87.5% | 188.0% | 63.8% | 18.6% | 11.1% | 0.52× | C$0.23 |
| FY2017 | 87.2% | 146.2% | — | 16.7% | 11.2% | 0.35× | — |
| FY2016 | — | 125.6% | — | 14.4% | 9.6% | 0.34× | — |
| FY2015 | — | — | — | — | — | — | — |
Annual figures
as reported| Fiscal year | Revenue | Gross profit | Op. income | Net income | Diluted EPS | Op. cash flow | Capex | Total assets | Liabilities | Equity | Cash | LT debt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FY2024 | C$569.1M | — | C$472.0M | C$361.9M | — | — | C$125K | C$9.6B | C$3.9B | C$5.7B | C$126.2M | C$3.1B |
| FY2023 | C$521.3M | — | C$435.2M | C$138.5M | — | C$313.2M | C$285K | C$9.1B | C$3.8B | C$5.3B | C$116.1M | C$3.0B |
| FY2022 | C$455.6M | — | C$380.4M | C$155.8M | — | C$277.5M | C$807K | C$9.3B | C$3.8B | C$5.5B | C$135.1M | C$2.9B |
| FY2021 | C$393.5M | — | C$332.7M | C$1.3B | — | C$262.3M | C$589K | C$8.6B | C$3.2B | C$5.3B | C$402.5M | C$2.4B |
| FY2020 | C$340.2M | — | C$293.0M | C$429.9M | — | C$249.3M | C$1.7M | C$6.7B | C$2.8B | C$3.9B | C$831.3M | C$2.3B |
| FY2019 | C$273.7M | — | C$238.3M | C$382.3M | — | C$183.4M | C$176K | C$4.8B | C$1.7B | C$3.1B | C$298.7M | C$1.2B |
| FY2018 | C$247.5M | — | C$216.5M | C$465.4M | — | C$157.9M | C$111K | C$4.2B | C$1.7B | C$2.5B | C$658.2M | C$1.3B |
| FY2017 | C$244.7M | — | C$213.3M | C$357.7M | — | C$158.7M | — | C$3.2B | C$1.1B | C$2.1B | C$69.0M | C$741.3M |
| FY2016 | C$223.4M | — | — | C$280.7M | — | C$160.0M | — | C$2.9B | C$961.9M | C$1.9B | C$246.2M | C$657.4M |
| FY2015 | — | — | — | — | — | — | — | — | — | C$1.9B | C$119.2M | — |
Latest filings
the most recent regulatory filingsSCHEDULE 13G/ASEC filing2026-05-01 ↗15F-12BSEC filing2026-01-05 ↗S-8 POSSecurities registration2026-01-05 ↗25Delisting notice2025-12-22 ↗6-KForeign issuer report2025-12-17 ↗6-KForeign issuer report2025-12-12 ↗6-KForeign issuer report2025-12-10 ↗SCHEDULE 13GSEC filing2025-12-02 ↗6-KForeign issuer report2025-11-14 ↗6-KForeign issuer report2025-11-05 ↗
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