Bridgemarq Real Estate Services, Inc. (TSE:BRE)
TSX:BRE
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Bridgemarq Real Estate Services
(TSX:BRE)
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Rating:53Neutral
Price Target:
C$14.00
â–²(6.87% Upside)
Action:ReiteratedDate:03/14/26
The score is held back primarily by weak financial quality driven by persistently negative equity and sizable debt, despite a return to profitability and positive free cash flow. Technicals are modestly supportive with a generally constructive longer-term trend but neutral momentum. Valuation is helped by a very high dividend yield, but a negative P/E reduces confidence in earnings-based valuation.
Positive Factors
Recurring franchise network
BRE’s core model is durable: recurring franchise and service fees from a network of franchised and company-owned brokerages create predictable revenue streams, reduce customer acquisition costs, and enable scalable delivery of technology, training and marketing over time.
Negative Factors
Stressed balance sheet
Persistent negative equity materially limits financial flexibility and heightens solvency risk. A negative net worth impairs the company’s ability to raise unsecured capital, increases lender scrutiny, and amplifies downside risk in a housing-market slowdown or operational setback.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring franchise network
BRE’s core model is durable: recurring franchise and service fees from a network of franchised and company-owned brokerages create predictable revenue streams, reduce customer acquisition costs, and enable scalable delivery of technology, training and marketing over time.
Read all positive factors
Bridgemarq Real Estate Services (BRE) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$130.88M
Dividend Yield10.31%
Average Volume (3M)11.70K
Price to Earnings (P/E)17.2
Beta (1Y)0.71
Revenue Growth58.15%
EPS Growth-235.04%
CountryCA
EmployeesN/A
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)-0.08
Shares Outstanding9,483,850
10 Day Avg. Volume18,434
30 Day Avg. Volume11,695
Financial Highlights & Ratios
PEG Ratio-0.10
Price to Book (P/B)-1.46
Price to Sales (P/S)0.31
P/FCF Ratio27.84
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.05
Revenue Forecast (FY)C$82.70M
Bridgemarq Real Estate Services Business Overview & Revenue Model
Company Description
Bridgemarq Real Estate Services (BRE) is a leading provider of real estate services in Canada, specializing in residential real estate brokerage and related services. The company operates through a network of independent real estate brokerages and...
How the Company Makes Money
BRE primarily makes money by monetizing its brokerage and franchise network. Key revenue streams generally include: (1) Franchise-related revenues: ongoing fees paid by franchisees and/or affiliated brokerages for the right to operate under BRE’s ...
Bridgemarq Real Estate Services Earnings Call Summary
Earnings Call Date:Aug 14, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:May 20, 2026
Earnings Call Sentiment Neutral
The earnings call highlighted positive strides in realtor network growth, success in the Quebec market, and advancements in advertising and AI integration. However, these were counterbalanced by significant financial challenges, including a net loss, decreased free cash flow, and market contraction in key areas, leading to concerns about the sustainability of the dividend payout.Positive Updates
Increased Realtor Network
The company increased its realtor network by 2% since the end of last year, with a current count of 21,409 realtors.
Negative Updates
Net Loss in Q2
The company reported a net loss of $5.4 million in the second quarter, compared to net earnings of $10.5 million in 2024, largely driven by a $4.9 million loss on the noncash fair valuation of exchangeable units.
Read all updates
Q2-2025 Updates
Positive
Negative
Increased Realtor Network
The company increased its realtor network by 2% since the end of last year, with a current count of 21,409 realtors.
Read all positive updates
Company Guidance
During the Bridgemarq Real Estate Services Inc. 2025 Second Quarter Results Conference Call, the company provided several key metrics and insights into its financial performance and market conditions. Revenue for the first half of 2025 was reported at $186 million, up from $122 million in 2024, despite a slight decrease in Q2 revenue to $108 million from $111 million last year. The company experienced a net loss of $5.4 million in Q2, compared to net earnings of $10.5 million in 2024, primarily due to a $4.9 million noncash fair valuation loss on exchangeable units. Adjusted net earnings were $2.2 million, consistent with the previous year. The Canadian residential real estate market contracted by 4%, with the Greater Toronto and Vancouver areas experiencing significant declines, while Quebec's market grew by 20%. The company expanded its network to 21,409 realtors, reflecting a 2% increase, and continued to enhance its technology platforms and marketing efforts, including a national advertising campaign with over 41 million social media views. Despite market challenges, the company maintained its annualized dividend of $1.35 per share, drawing on debt facilities to support payouts, and expressed optimism about future growth initiatives and market recovery.Bridgemarq Real Estate Services Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
24
Negative
Cash Flow
58
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 407.38M | 350.67M | 48.45M | 49.87M | 50.20M |
| Gross Profit | 51.92M | 65.87M | 47.42M | 48.66M | 49.17M |
| EBITDA | 37.20M | 18.52M | 23.11M | 27.67M | 28.36M |
| Net Income | 7.27M | -10.32M | 4.00M | 20.97M | 4.76M |
Balance Sheet | |||||
| Total Assets | 112.47M | 157.44M | 64.89M | 72.63M | 78.60M |
| Cash, Cash Equivalents and Short-Term Investments | 5.75M | 9.09M | 5.74M | 6.42M | 6.22M |
| Total Debt | 173.45M | 87.16M | 67.02M | 66.96M | 68.42M |
| Total Liabilities | 198.24M | 237.69M | 122.01M | 120.94M | 135.08M |
| Stockholders Equity | -85.78M | -80.25M | -57.12M | -48.31M | -56.48M |
Cash Flow | |||||
| Free Cash Flow | 4.50M | 15.57M | 12.79M | 15.08M | 15.14M |
| Operating Cash Flow | 9.68M | 17.10M | 13.67M | 15.10M | 15.14M |
| Investing Cash Flow | -5.18M | 2.48M | -1.48M | -598.00K | -275.00K |
| Financing Cash Flow | -7.84M | -16.24M | -12.87M | -14.30M | -17.80M |
Bridgemarq Real Estate Services Technical Analysis
Positive
13.10
Price Trends
13.83
Negative
13.27
Positive
13.56
Positive
Market Momentum
-0.05
Positive
51.93
Neutral
15.71
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:BRE, the sentiment is Positive. The current price of 13.1 is below the 20-day moving average (MA) of 13.72, below the 50-day MA of 13.83, and below the 200-day MA of 13.56, indicating a neutral trend. The MACD of -0.05 indicates Positive momentum. The RSI at 51.93 is Neutral, neither overbought nor oversold. The STOCH value of 15.71 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:BRE.
Bridgemarq Real Estate Services Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | C$1.64B | 8.83 | 17.29% | 0.09% | 10.61% | 43.64% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
62 Neutral | C$8.82B | 47.95 | 11.26% | 0.71% | 14.10% | 28.82% | |
57 Neutral | C$1.92B | -157.22 | 3.63% | 1.07% | -27.10% | -2415.77% | |
54 Neutral | C$7.57B | 30.18 | 8.68% | 0.21% | 22.85% | -25.32% | |
53 Neutral | C$130.88M | 17.25 | -8.54% | 10.31% | 58.15% | -235.04% | |
53 Neutral | C$1.63B | -136.04 | -2.63% | 0.25% | 9.98% | 93.01% |
* Real Estate Sector Average
TSE:BRE
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13.80
1.32
10.55%
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Bridgemarq Real Estate Services Corporate Events
Business Operations and StrategyDividendsFinancial DisclosuresPrivate Placements and Financing
Bridgemarq Grows Revenue and Agent Network Despite Soft Canadian Housing Market
Positive
Mar 13, 2026
Bridgemarq Real Estate Services reported strong top-line growth in 2025, with revenue rising to $407.4 million from $350.7 million, driven by acquisitions, fee increases, and a 2% expansion of its agent network even as the broader Canadian industr...
Business Operations and StrategyFinancial Disclosures
Bridgemarq Sets March 13 Call to Review Fourth-Quarter Results
Neutral
Mar 4, 2026
Bridgemarq Real Estate Services Inc. will hold a conference call on March 13, 2026, at 10:00 a.m. ET to discuss its fourth quarter financial results, with access available by telephone and webcast. A transcript of the call is scheduled to be poste...
Business Operations and StrategyDividends
Bridgemarq Real Estate Services Declares Quarterly Cash Dividend
Positive
Feb 18, 2026
Bridgemarq Real Estate Services Inc., a major Canadian residential real estate services provider supporting a network of more than 21,000 REALTORS under brands such as Royal LePage, Proprio Direct and Via Capitale, continues to leverage its franch...
Dividends
Bridgemarq Real Estate Services Declares Cash Dividend for Restricted Voting Shareholders
Positive
Jan 16, 2026
Bridgemarq Real Estate Services Inc., a major Canadian provider of residential real estate brokerage services and franchising under brands such as Royal LePage, Proprio Direct and Via Capitale, supports a network of more than 21,000 REALTORS acros...
Dividends
Bridgemarq Real Estate Services Declares Cash Dividend for Restricted Voting Shares
Positive
Dec 18, 2025
Bridgemarq Real Estate Services Inc. has declared a cash dividend of $0.1125 per restricted voting share, payable on January 30, 2026, to shareholders of record as of December 31, 2025. The move underscores the company’s ongoing capital-retu...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.