DREAM Un Cl A (DRM) AI Stock Analysis

• Market Cap: C$758.36M
• Dividend Yield: 9.06%
• Average Volume (3M): 38.20K
• Price to Earnings (P/E): 9.3
• Beta (1Y): 1.92
• Revenue Growth: -17.89%
• EPS Growth: N/A
• Country: CA
• Employees: 500
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Development
• EPS (TTM): 0.65
• Shares Outstanding: 40,620,907
• 10 Day Avg. Volume: 47,582
• 30 Day Avg. Volume: 38,196
• PEG Ratio: -0.02
• Price to Book (P/B): 0.62
• Price to Sales (P/S): 1.49
• P/FCF Ratio: -23.25
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$38.00
• Price Target Upside: 116.52% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 58 Neutral
• Price Target: C$19.00 ▲(8.26% Upside)

DREAM Un Cl A's overall stock score reflects strong profitability and attractive valuation, offset by declining revenues, negative cash flows, and bearish technical indicators. The earnings call provided a mixed outlook with both growth potential and economic concerns.

Positive Factors

Asset Management Growth

The significant growth in the Asset Management division, with expectations to exceed $30 billion in assets under management by 2026, indicates a strong and expanding revenue stream, enhancing the company's market position and long-term stability.

Liquidity Position

A strong liquidity position with $328 million available provides DREAM Un Cl A with the flexibility to manage debt and invest in growth opportunities, supporting financial stability and strategic initiatives over the long term.

Western Canada Development Progress

Progress in the Western Canada Development division, with significant sales commitments, indicates robust demand and successful execution of development projects, contributing to revenue growth and market expansion.

Negative Factors

Declining Revenue

A significant decline in revenue poses a challenge to sustaining growth and profitability, potentially impacting the company's ability to invest in new projects and maintain its competitive position.

Negative Cash Flows

Negative cash flows indicate potential liquidity issues, limiting the company's ability to fund operations and growth initiatives, which could strain financial resources and impact long-term viability.

Economic Concerns and Market Uncertainty

Economic uncertainties and market challenges may affect DREAM Un Cl A's operations and growth prospects, as external factors like tariffs and interest rates could impact demand and cost structures.

DREAM Un Cl A Business Overview & Revenue Model

Company Description

Dream Unlimited Corp. formerly known as Dundee Realty Corporation is a real estate investment firm. The firm provides real estate asset management and advisory services including sourcing, acquiring, managing, and developing commercial and residential real estate primarily in Western Canada. It invests in the real estate markets across the globe. The firm also seeks to invest in renewable energy infrastructure and power projects with a focus on wind, hydro, and solar in North American. Dream Unlimited Corp. was founded in 1996 and is based in Toronto, Canada.

How the Company Makes Money

DREAM Un Cl A generates revenue primarily through rental income derived from its portfolio of residential and commercial properties. The company leases its properties to tenants, which provides a steady stream of cash flow. Additionally, it may earn revenue from property management fees and development projects, where it develops new properties for leasing or sale. Significant partnerships with local governments and other real estate developers can also contribute to its earnings, allowing DREAM to expand its portfolio and enhance property value through collaborative development projects and initiatives.

DREAM Un Cl A Financial Statement Overview

Summary

DREAM Un Cl A shows strong profitability with high margins, but faces challenges with declining revenues and negative cash flows. The balance sheet reflects moderate leverage, which requires careful management to avoid financial strain.

Income Statement

The income statement shows mixed results. The TTM data indicates a significant revenue decline of 20.59%, which is concerning. However, the company maintains strong profitability with a high net profit margin of 31.84% and a gross profit margin of 35.21%. The EBIT and EBITDA margins are also robust at 47.67% and 48.65%, respectively. Despite the revenue drop, the company has managed to maintain healthy margins, indicating good cost control.

Balance Sheet

The balance sheet reflects a moderate level of financial leverage with a debt-to-equity ratio of 1.26. The return on equity (ROE) is 11.63%, which is reasonable but shows a decline from previous periods. The equity ratio stands at 37.39%, indicating a balanced capital structure. However, the increasing debt levels could pose a risk if not managed carefully.

Cash Flow

The cash flow statement reveals challenges, with negative operating and free cash flows in the TTM period. The free cash flow growth rate is exceptionally high at 1184.53%, but this is due to a low base effect. The operating cash flow to net income ratio is very low at 0.02, and the free cash flow to net income ratio is negative, indicating potential liquidity issues.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	424.61M	624.51M	386.95M	343.77M	325.92M	347.62M
Gross Profit	136.94M	201.66M	125.19M	113.61M	91.14M	105.15M
EBITDA	199.66M	304.89M	68.31M	106.88M	140.34M	152.62M
Net Income	81.03M	187.86M	-117.08M	164.44M	110.03M	159.22M
Balance Sheet
Total Assets	3.89B	3.92B	3.88B	3.96B	3.49B	2.84B
Cash, Cash Equivalents and Short-Term Investments	75.67M	83.88M	60.20M	47.63M	52.56M	185.12M
Total Debt	1.92B	1.88B	1.82B	1.64B	1.32B	768.62M
Total Liabilities	2.43B	2.42B	2.47B	2.40B	2.07B	1.44B
Stockholders Equity	1.45B	1.50B	1.40B	1.55B	1.42B	1.39B
Cash Flow
Free Cash Flow	-90.84M	-39.93M	-82.00M	-84.08M	-371.22M	-3.97M
Operating Cash Flow	-90.84M	-39.93M	-82.00M	-66.35M	67.02M	-82.50M
Investing Cash Flow	154.29M	132.37M	-66.82M	-137.05M	-477.17M	30.78M
Financing Cash Flow	-87.09M	-68.76M	161.39M	198.47M	277.59M	-151.67M

DREAM Un Cl A Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 17.55
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:DRM, the sentiment is Negative. The current price of 17.55 is below the 20-day moving average (MA) of 17.96, below the 50-day MA of 18.89, and below the 200-day MA of 19.66, indicating a bearish trend. The MACD of -0.30 indicates Negative momentum. The RSI at 37.56 is Neutral, neither overbought nor oversold. The STOCH value of 50.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:DRM.

DREAM Un Cl A Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NXR.UN	69 Neutral	$746.10M	9.22	7.32%	8.47%	0.41%	78.32%
MRG.UN	68 Neutral	C$898.29M	7.40	6.37%	4.47%	3.83%	63.32%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
DRM	58 Neutral	C$758.36M	9.27	5.70%	9.06%	-17.89%	―
AX.UN	52 Neutral	C$633.38M	―	-4.93%	9.09%	-20.06%	19.27%
HOM.UN	52 Neutral	C$631.07M	-9.21	-3.64%	4.78%	-6.91%	82.31%

DREAM Un Cl A Corporate Events

Dream Unlimited Corp. Reports Solid Q3 Results and Strategic Progress

Dream Unlimited Corp. reported solid third-quarter results, with significant progress across its major businesses. The company broke ground on the Cooperstown development in Regina, marking a milestone in its Western Canada operations. Dream’s asset management division continues to see positive growth, with $28 billion in assets under management. The Dream Residential REIT’s strategic review resulted in an agreement to be acquired, expected to bolster Dream’s liquidity. Despite challenges in the Toronto development market, Dream is advancing key projects like 49 Ontario and Quayside, which are crucial for its clients and communities.

The most recent analyst rating on (TSE:DRM) stock is a Hold with a C$19.00 price target. To see the full list of analyst forecasts on DREAM Un Cl A stock, see the TSE:DRM Stock Forecast page.

Dream Unlimited Corp. to Announce Q3 2025 Financial Results

Dream Unlimited Corp. announced that it will release its third-quarter financial results for 2025 on November 11, with a conference call scheduled for November 12 to discuss the results. This announcement is significant for stakeholders as it provides insights into the company’s financial health and future prospects, especially given its focus on expanding its portfolio of income-generating properties.

The most recent analyst rating on (TSE:DRM) stock is a Hold with a C$22.00 price target. To see the full list of analyst forecasts on DREAM Un Cl A stock, see the TSE:DRM Stock Forecast page.

Dream Unlimited’s Earnings Call: Growth Amid Challenges

Dream Unlimited Corp. recently held its earnings call, showcasing a mixed sentiment. The company reported significant progress in its Western Canada and income properties segments, indicating promising long-term growth prospects. However, challenges in the Impact Trust segment and declines in asset management revenue and net margin present hurdles that need addressing. Overall, Dream Unlimited appears poised for growth, but certain areas require attention.

Dream Unlimited Corp. Declares Quarterly Dividend for Class A and B Shares

Dream Unlimited Corp. announced a quarterly cash dividend of $0.1625 per Class A Subordinate Voting Share and Class B Common Share, payable on September 30, 2025, to shareholders of record on September 15, 2025. This announcement reflects Dream’s ongoing commitment to providing shareholder value and indicates confidence in its financial stability and growth prospects, particularly as it continues to expand its portfolio of investment properties.

The most recent analyst rating on (TSE:DRM) stock is a Buy with a C$24.00 price target. To see the full list of analyst forecasts on DREAM Un Cl A stock, see the TSE:DRM Stock Forecast page.