Real Estate & E-Commerce Split Corp. Class A (RS) AI Stock Analysis

• Market Cap: C$118.58M
• Dividend Yield: 17.81%
• Average Volume (3M): 26.48K
• Price to Earnings (P/E): 7.8
• Beta (1Y): 0.90
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: CA
• Employees: N/A
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 1.01
• Shares Outstanding: 11,764,199
• 10 Day Avg. Volume: 27,541
• 30 Day Avg. Volume: 26,476
• PEG Ratio: 0.00
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 56 Neutral
• Price Target: C$9.50 ▼(-5.00% Downside)

The score is held back primarily by persistent, worsening negative operating/free cash flow and volatile profitability, despite a very strong low-debt balance sheet. Valuation is a key positive (low P/E and very high yield), while technicals are mixed and corporate updates modestly supportive due to continued/increased distributions and the maturity extension.

Positive Factors

Balance Sheet Health

A debt-free balance sheet enhances financial stability and flexibility, allowing the company to invest in growth opportunities without the burden of interest payments.

Revenue and Profitability Recovery

The turnaround in revenue and profitability indicates effective management strategies and a strong market position, supporting long-term growth prospects.

Strategic Merger

The merger expands the company's portfolio and market reach, enhancing its ability to capitalize on real estate demand and offering potential for capital appreciation and cash distributions.

Negative Factors

Negative Operating Cash Flow

Persistent negative operating cash flow can strain liquidity and limit the company's ability to fund operations and investments, posing a risk to long-term sustainability.

Volatility in Revenue

Revenue volatility may indicate challenges in maintaining consistent growth, which could affect investor confidence and the company's ability to plan long-term strategies.

Reliance on Financing Activities

Dependence on external financing for cash flow can increase financial risk, especially if market conditions change, impacting the company's ability to secure favorable terms.

Real Estate & E-Commerce Split Corp. Class A Business Overview & Revenue Model

Company Description

Real Estate & E-Commerce Split Corp. is a balanced mutual fund launched by Middlefield Limited. The fund is managed by Middlefield Capital Corporation. Real Estate & E-Commerce Split Corp. Real Estate & E-Commerce Split Corp. was formed on October 7, 2020 and is domiciled in Canada.

How the Company Makes Money

Real Estate & E-Commerce Split Corp. Class A makes money primarily through the management and trading of its structured investment vehicles, specifically split shares. These shares are designed to generate revenue through dividends, interest, and capital gains from the underlying assets, which include real estate investments and e-commerce related securities. The company earns management fees from the administration of these investment products. Additionally, it may benefit from strategic partnerships and financial instruments that enhance returns for shareholders.

Real Estate & E-Commerce Split Corp. Class A Financial Statement Overview

Summary

Overall, the company exhibits a strong recovery in its operations with significant improvements in revenue and profitability. The balance sheet is solid, with no leverage concerns, enhancing financial stability. However, challenges persist in generating positive operating cash flow, which needs careful management to ensure sustainable growth.

Income Statement

The company's revenue has shown a significant recovery, moving from negative figures in 2022 to positive in 2023, indicating a strong turnaround. Gross profit and net income margins have also improved significantly, reflecting enhanced profitability. However, the volatility in past revenues suggests potential instability.

Balance Sheet

The company maintains a strong balance sheet with no debt, resulting in a favorable debt-to-equity ratio. The equity ratio is robust, indicating solid financial stability. The increase in stockholders' equity over the years demonstrates growth in net assets.

Cash Flow

Operating cash flow remains negative, raising concerns about cash generation from operations. However, the reduction in negative free cash flow suggests improvement. The reliance on financing activities to sustain cash flow could be a potential risk if not managed carefully.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	6.17M	5.14M	3.12M	1.37M	242.82K
Gross Profit	4.43M	3.71M	2.07M	669.97K	178.09K
EBITDA	-6.52M	3.92M	-17.30M	12.37M	-253.14K
Net Income	-7.02M	3.81M	-17.34M	12.30M	-260.22K
Balance Sheet
Total Assets	231.44M	150.25M	121.09M	78.56M	38.43M
Cash, Cash Equivalents and Short-Term Investments	230.51M	149.30M	120.61M	78.26M	38.25M
Total Debt	0.00	0.00	500.00K	500.00K	0.00
Total Liabilities	118.11M	70.19M	54.64M	27.69M	16.67M
Stockholders Equity	113.33M	80.06M	66.46M	50.87M	21.76M
Cash Flow
Free Cash Flow	-80.19M	-26.66M	-57.83M	-26.41M	-35.87M
Operating Cash Flow	-80.19M	-26.66M	-57.83M	-26.41M	-35.87M
Investing Cash Flow	0.00	0.00	0.00	0.00	0.00
Financing Cash Flow	87.80M	24.74M	59.47M	27.75M	38.32M

Real Estate & E-Commerce Split Corp. Class A Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 10.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:RS, the sentiment is Positive. The current price of 10 is above the 20-day moving average (MA) of 9.34, above the 50-day MA of 9.18, and above the 200-day MA of 9.14, indicating a bullish trend. The MACD of 0.26 indicates Negative momentum. The RSI at 77.15 is Negative, neither overbought nor oversold. The STOCH value of 95.34 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:RS.

Real Estate & E-Commerce Split Corp. Class A Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AGF.B	78 Outperform	C$1.06B	9.42	9.85%	3.01%	11.23%	30.44%
PWI	70 Outperform	C$35.11M	4.19	32.64%	10.21%	818.69%	-12.12%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
PDV	66 Neutral	C$6.71M	3.44	42.23%	7.52%	-54.61%	273.14%
RS	56 Neutral	C$118.58M	7.82	15.77%	17.81%	―	―
BNK	54 Neutral	C$23.00M	3.78	46.99%	8.54%	126.51%	10525.53%
AIM	51 Neutral	C$256.87M	-143.14	0.84%	―	8.11%	97.99%

Real Estate & E-Commerce Split Corp. Class A Corporate Events

Real Estate Split Corp. Announces December and Q4 2025 Distributions for Class A and Preferred Shares

Real Estate Split Corp. has declared a cash distribution of $0.13 per Class A share for December 2025, with a record date of December 31, 2025 and payment scheduled for January 15, 2026. The fund also announced a fourth-quarter 2025 cash distribution of $0.13125 per preferred share, with the same record and payment dates, underscoring its continued income stream to both equity and preferred shareholders even as it cautions that future distributions may vary due to portfolio composition, issuer dividend policies, market conditions and other risk factors.

Real Estate Split Corp. Announces November 2025 Distribution

Real Estate Split Corp. has announced a distribution of $0.13 per Class A equity share for November 2025, payable on December 15, 2025. This announcement reflects the company’s ongoing commitment to providing returns to its shareholders, although actual future distributions may vary due to changes in portfolio composition and market conditions.

Real Estate Split Corp. Extends Maturity Date and Increases Preferred Share Distribution

Real Estate Split Corp. has announced an extension of its maturity date to December 31, 2030, along with an increased distribution rate for its Preferred Shares to $0.58 per annum, a 10.5% increase from the current rate. This move provides shareholders with a competitive yield and the opportunity for preferential cash dividends. The extension also allows Class A shareholders to maintain exposure to a diversified portfolio of North American real estate issuers, with the potential for capital appreciation. Shareholders have the option to retract their shares or continue holding them to benefit from the new distribution rate.

Real Estate Split Corp. Announces October Distribution for Class A Shares

Real Estate Split Corp. has announced a distribution of $0.13 per Class A equity share for October 2025, payable on November 14, 2025. This announcement reflects the company’s ongoing commitment to providing returns to its shareholders, although the actual distribution amounts may vary due to changes in portfolio composition and market conditions.