CANADIAN NET REAL ESTATE INVESTMENT TRUST

Income Statement Canadian Net Real Estate Investment Trust OTC Markets

Stocks

CNNRF

CA13639A1093

Commercial REITs

Market Closed - OTC Markets Other stock markets 17:59:57 16/07/2026 +04			5-day change	1st Jan Change
4.640 ^USD	-1.28%		-4.64%	+11.54%

06-16	Canadian Net REIT Acquires Retail Property in Quebec For $4.43 Million	MT
06-16	Canadian Net Real Estate Investment Trust Acquires Property in Rivière-Du-Loup	CI

3e2d798ca4d6ff78084a87bfb8920678.H_JWRlQvXwUPwpGAVtJ7N68yU4RKqTwAseeEyNVTWZU.MqgHH2dBPUBBpuvZGOQQB-RFauY86mVo_ZfWmr5nDdF2mDMvDEwrcECz3A

Published financial data: CANADIAN NET REAL ESTATE INVESTMENT TRUST

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Rental Revenues	18.95M	24.73M	26.55M	26.12M	27.98M
Other Revenues, Total	2.97M	-901K	3.08M	1.86M	3.13M
Total Revenues	21.92M	23.83M	29.63M	27.99M	31.11M
Property Expenses	4.63M	6.36M	7.12M	7.21M	7.75M
Selling General & Admin Expenses, Total	811K	891K	1.02M	1.25M	1.07M
Stock-Based Compensation (IS)	309K	603K	542K	769K	1.06M
Total Operating Expenses	5.75M	7.85M	8.68M	9.22M	9.88M
Operating Income (REIT / Utility Template)	16.17M	15.98M	20.95M	18.76M	21.23M
Interest Expense, Total	-4.68M	-6.58M	-7.64M	-7.32M	-7.52M
Interest and Investment Income	244K	320K	393K	389K	308K
Net Interest Expenses	-4.43M	-6.26M	-7.25M	-6.93M	-7.21M
Other Non Operating Income (Expenses)	84.67K	529K	210K	-68.98K	-25.88K
EBT, Excl. Unusual Items	11.82M	10.24M	13.91M	11.76M	13.99M
Gain (Loss) on Sale of Assets	57.67K	-	-	-	-
Asset Writedown	13.36M	-16.74M	4.32M	-4.76M	3.04M
Other Unusual Items	-	-	-	-	-25K
EBT, Incl. Unusual Items	25.24M	-6.5M	18.23M	7.01M	17.01M
Income Tax Expense	145K	-2.94K	6.1K	-97.32K	336K
Earnings From Continuing Operations	25.09M	-6.49M	18.22M	7.1M	16.67M
Net Income to Company	25.09M	-6.49M	18.22M	7.1M	16.67M
Net Income - (IS)	25.09M	-6.49M	18.22M	7.1M	16.67M
Net Income to Common Incl Extra Items	25.09M	-6.49M	18.22M	7.1M	16.67M
Net Income to Common Excl. Extra Items	25.09M	-6.49M	18.22M	7.1M	16.67M
Per Share Items
Net EPS - Basic	1.35	-0.32	0.89	0.35	0.81
Basic EPS - Continuing Operations	1.35	-0.32	0.89	0.35	0.81
Basic Weighted Average Shares Outstanding	18.58M	20.51M	20.57M	20.55M	20.59M
Net EPS - Diluted	1.3	-0.32	0.89	0.35	0.81
Diluted EPS - Continuing Operations	1.3	-0.32	0.89	0.35	0.81
Diluted Weighted Average Shares Outstanding	19.83M	20.51M	20.57M	20.55M	20.59M
Normalized Basic EPS	0.4	0.31	0.42	0.36	0.42
Normalized Diluted EPS	0.37	0.31	0.42	0.36	0.42
Dividend Per Share	0.3	0.34	0.34	0.34	0.35
Payout Ratio	22.23	-107.29	38.94	99.83	42.91
Supplemental Items
EBITA	16.17M	15.98M	20.95M	18.76M	21.23M
EBIT	16.17M	15.98M	20.95M	18.76M	21.23M
Effective Tax Rate - (Ratio)	0.58	0.05	0.03	-1.39	1.98
Current Domestic Taxes	-	-	-	-	67.46K
Total Current Taxes	-	-	-	-	67.46K
Deferred Domestic Taxes	145K	-2.94K	6.1K	-97.32K	269K
Total Deferred Taxes	145K	-2.94K	6.1K	-97.32K	269K
Normalized Net Income	7.39M	6.4M	8.69M	7.35M	8.74M
Interest on Long-Term Debt	4.58M	6.03M	6.45M	6.35M	6.9M
Supplemental Operating Expense Items
General and Administrative Expenses	811K	891K	1.02M	1.25M	1.07M
Stock-Based Comp., G&A Exp. (Total)	-	-	-	-	-
Stock-Based Comp., Other (Total)	309K	603K	542K	769K	1.06M
Total Stock-Based Compensation	309K	603K	542K	769K	1.06M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Net Property Plant And Equipment	253M	275M	278M	275M	-
Total Real Estate Assets	253M	275M	278M	275M	-
Cash And Equivalents	607K	205K	988K	879K	955K
Investment In Debt and Equity Securities	-	-	-	-	-
Other Current Assets, Total	1.33M	8.11M	7.2M	964K	1.26M
Deferred Tax Assets Long-Term (Collected)	20K	18.3K	25K	-	-
Other Long-Term Assets, Total	23.26M	19.3M	22.29M	24M	317M
Total Assets	278M	303M	308M	301M	319M
Liabilities
Current Portion of Long-Term Debt	11.8M	16.52M	13.8M	22.08M	18.79M
Short-Term Borrowings	2.88M	15.73M	15.97M	13.24M	9.31M
Long-Term Debt	130M	144M	142M	132M	146M
Accounts Payable, Total	934K	1.94M	1.9M	1.71M	1.57M
Accrued Expenses, Total	-	-	-	1.15M	2.32M
Current Income Taxes Payable	-	-	-	183K	66.6K
Unearned Revenue, Current	-	1.24M	1.26M	1.29M	1.43M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	1.62M	3.5M	2.78M	-	-
Deferred Tax Liability Non-Current	297K	293K	305K	-	269K
Other Non Current Liabilities	798K	795K	693K	38.38K	178K
Total Liabilities	148M	184M	179M	172M	180M
Common Stock, Total	101M	103M	103M	103M	103M
Additional Paid In Capital	71.4K	71.4K	71.4K	71.4K	71.4K
Retained Earnings	28.65M	15.19M	26.32M	26.33M	35.85M
Total Common Equity	130M	119M	129M	129M	139M
Total Equity	130M	119M	129M	129M	139M
Total Liabilities And Equity	278M	303M	308M	301M	319M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	20.27M	20.59M	20.53M	20.56M	20.6M
ECS Total Common Shares Outstanding	20.27M	20.59M	20.53M	20.56M	20.6M
Book Value / Share	6.4	5.76	6.31	6.3	6.76
Tangible Book Value	130M	119M	129M	129M	139M
Tangible Book Value Per Share	6.4	5.76	6.31	6.3	6.76
Total Debt	145M	177M	172M	168M	174M
Net Debt	144M	176M	171M	167M	173M
Equity Method Investments, Total	18.84M	15.67M	18.19M	19.63M	21.29M
Account Code - Inventory Valuation	3	3	3	3	3

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	25.09M	-6.49M	18.22M	7.1M	16.67M
Amortization of Deferred Charges, Total	-	-	-	-	-
(Gain) Loss On Sale of Asset - (CF)	-57.67K	-	-	-	-
Total Asset Writedown	-13.36M	16.74M	-4.32M	4.76M	-3.04M
(Income) Loss On Equity Investments - (CF)	-2.97M	901K	-3.08M	-1.86M	-3.13M
Stock-Based Compensation (CF)	309K	603K	393K	692K	1.04M
Change in Accounts Payable	367K	549K	269K	-385K	307K
Change In Income Taxes	-	-	-	-	-116K
Change in Other Net Operating Assets (Collected)	-88.51K	-336K	-50.78K	338K	285K
Other Operating Activities	-34.2K	-633K	-184K	9.63K	345K
Cash from Operations	9.26M	11.33M	11.25M	10.65M	12.36M
Acquisition of Real Estate Assets, Total	-53.73M	-44.3M	-1.57M	-9.81M	-13.01M
Sale of Real Estate Assets, Total	-	162K	4.23M	12.47M	-
Net Sale / Acquisition of Real Estate Assets	-53.73M	-44.14M	2.66M	2.66M	-13.01M
Investment in Marketable and Equity Securities, Total	-2M	2.27M	558K	427K	1.46M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-66.14K	299K	-508K	631K	210K
Cash from Investing	-55.79M	-41.56M	2.71M	3.72M	-11.34M
Short Term Debt Issued, Total	2.88M	12.84M	240K	-	-
Long-Term Debt Issued, Total	29.08M	27.92M	2.35M	6.5M	21.21M
Total Debt Issued	31.97M	40.76M	2.59M	6.5M	21.21M
Short Term Debt Repaid, Total	-	-	-	-2.73M	-3.93M
Long-Term Debt Repaid, Total	-3.33M	-5.59M	-8.19M	-11.16M	-11.07M
Total Debt Repaid	-3.33M	-5.59M	-8.19M	-13.89M	-15M
Issuance of Common Stock	19.62M	1.62M	12.27K	-	-
Repurchase of Common Stock	-	-	-501K	-	-
Common Dividends Paid	-5.58M	-6.97M	-7.1M	-7.09M	-7.16M
Common & Preferred Stock Dividends Paid	-5.58M	-6.97M	-7.1M	-7.09M	-7.16M
Other Financing Activities, Total	-	-	-	-	-
Cash from Financing	42.68M	29.83M	-13.18M	-14.48M	-949K
Net Change in Cash	-3.85M	-401K	782K	-108K	75.83K
Supplemental Items
Cash Interest Paid	3.88M	5.77M	6.82M	6.71M	6.94M
Net Debt Issued / Repaid	28.64M	35.18M	-5.6M	-7.39M	6.21M
Levered Free Cash Flow	7.55M	3.82M	9.03M	11.93M	10.38M
Unlevered Free Cash Flow	10.48M	7.94M	13.8M	16.51M	15.08M
Change In Net Working Capital	-62.53K	2.65M	-170K	-4.01M	-755K

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	4.14	3.44	4.28	3.85	4.28
Return on Total Capital	4.21	3.5	4.39	3.92	4.35
Return On Equity %	22.81	-5.23	14.68	5.49	12.41
Return on Common Equity	22.81	-5.23	14.68	5.49	12.41
Margin Analysis
Gross Profit Margin %	78.87	73.32	75.97	74.25	75.08
SG&A Margin	3.7	3.74	3.45	4.45	3.42
EBITA Margin %	73.76	67.05	70.7	67.05	68.24
EBIT Margin %	73.76	67.05	70.7	67.05	68.24
Income From Continuing Operations Margin %	114.46	-27.25	61.5	25.38	53.6
Net Income Margin %	114.46	-27.25	61.5	25.38	53.6
Net Avail. For Common Margin %	114.46	-27.25	61.5	25.38	53.6
Normalized Net Income Margin	33.71	26.87	29.34	26.27	28.11
Levered Free Cash Flow Margin	34.46	16.05	30.47	42.64	33.38
Unlevered Free Cash Flow Margin	47.79	33.31	46.59	58.99	48.49
Asset Turnover
Asset Turnover	0.09	0.08	0.1	0.09	0.1
Fixed Assets Turnover	0.1	0.09	0.11	0.1	-
Short Term Liquidity
Current Ratio	0.11	0.21	0.23	0.05	0.07
Quick Ratio	0.04	0.01	0.03	0.02	0.03
Operating Cash Flow to Current Liabilities	0.54	0.29	0.32	0.27	0.37
Average Days Payable Outstanding	59.1	82.57	98.54	91.58	69.22
Long Term Solvency
Total Debt/Equity	111.47	148.8	132.77	129.41	124.83
Total Debt / Total Capital	52.71	59.81	57.04	56.41	55.52
LT Debt/Equity	100.16	121.63	109.78	102.13	104.63
Long-Term Debt / Total Capital	47.36	48.89	47.16	44.52	46.54
Total Liabilities / Total Assets	53.33	60.84	58.01	57.04	56.34
EBIT / Interest Expense	3.46	2.43	2.74	2.56	2.82
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	41.41	8.71	24.34	-5.54	11.16
Gross Profit, 1 Yr. Growth %	39.61	1.06	28.83	-7.68	12.39
EBITA, 1 Yr. Growth %	39.18	-1.18	31.1	-10.42	13.14
EBIT, 1 Yr. Growth %	39.18	-1.18	31.1	-10.42	13.14
Earnings From Cont. Operations, 1 Yr. Growth %	160.78	-125.88	-380.61	-61.02	134.72
Net Income, 1 Yr. Growth %	160.78	-125.88	-380.61	-61.02	134.72
Diluted EPS Before Extra, 1 Yr. Growth %	99.5	-123.43	-379.91	-60.99	134.31
Normalized Net Income, 1 Yr. Growth %	24.52	-13.34	35.77	-15.44	18.03
Net Property, Plant and Equip., 1 Yr. Growth %	36	8.89	0.88	-0.85	-
Total Assets, 1 Yr. Growth %	32.65	8.95	1.75	-2.28	5.77
Common Equity, 1 Yr. Growth %	43.91	-8.57	9.1	-0.04	7.51
Tangible Book Value, 1 Yr. Growth %	43.91	-8.57	9.1	-0.04	7.51
Cash From Operations, 1 Yr. Growth %	49.7	22.33	-0.69	-5.34	16.05
Levered Free Cash Flow, 1 Yr. Growth %	28.16	-49.38	136.14	23.74	-12.99
Unlevered Free Cash Flow, 1 Yr. Growth %	32.16	-24.23	73.9	14.5	-8.63
Dividend Per Share, 1 Yr. Growth %	17.37	13.33	1.47	0	0.01
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	54	23.98	16.26	8.37	2.47
Gross Profit, 2 Yr. CAGR %	57.17	18.78	14.1	9.06	1.86
EBITA, 2 Yr. CAGR %	62.66	17.28	13.82	8.37	0.67
EBIT, 2 Yr. CAGR %	62.66	17.28	13.82	8.37	0.67
Earnings From Cont. Operations, 2 Yr. CAGR %	147.94	-17.85	-14.78	4.59	-4.34
Net Income, 2 Yr. CAGR %	147.94	-17.85	-14.78	4.59	-4.34
Diluted EPS Before Extra, 2 Yr. CAGR %	88.9	-30.38	-19.01	4.49	-4.4
Normalized Net Income, 2 Yr. CAGR %	116.26	3.88	8.47	7.15	0.29
Net Property, Plant and Equip., 2 Yr. CAGR %	46.1	21.69	4.81	0.01	-
Total Assets, 2 Yr. CAGR %	46.78	20.22	5.29	-0.29	1.67
Common Equity, 2 Yr. CAGR %	59.01	14.71	-0.13	4.43	3.67
Tangible Book Value, 2 Yr. CAGR %	59.01	14.71	-0.13	4.43	3.67
Cash From Operations, 2 Yr. CAGR %	60.07	35.32	10.22	-3.04	4.81
Levered Free Cash Flow, 2 Yr. CAGR %	169.78	-19.46	9.33	76.66	3.76
Unlevered Free Cash Flow, 2 Yr. CAGR %	98.76	0.07	14.79	44.22	2.28
Dividend Per Share, 2 Yr. CAGR %	16.25	15.33	7.24	0.73	0.73
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	51.59	37.12	24.1	8.48	9.29
Gross Profit, 3 Yr. CAGR %	50.07	35.66	22.04	6.32	10.16
EBITA, 3 Yr. CAGR %	52.68	37.77	21.71	5.09	9.94
EBIT, 3 Yr. CAGR %	52.68	37.77	21.71	5.09	9.94
Earnings From Cont. Operations, 3 Yr. CAGR %	136.82	16.74	23.72	-34.34	36.93
Net Income, 3 Yr. CAGR %	136.82	16.74	23.72	-34.34	36.93
Diluted EPS Before Extra, 3 Yr. CAGR %	84.56	-4.65	10.7	-36.51	36.77
Normalized Net Income, 3 Yr. CAGR %	59.02	59.44	13.58	-0.17	10.94
Net Property, Plant and Equip., 3 Yr. CAGR %	39.77	32.46	14.31	2.89	-
Total Assets, 3 Yr. CAGR %	41.16	32.9	13.71	2.7	1.69
Common Equity, 3 Yr. CAGR %	46.48	32.22	12.81	-0.1	5.45
Tangible Book Value, 3 Yr. CAGR %	46.48	32.22	12.81	-0.1	5.45
Cash From Operations, 3 Yr. CAGR %	42.68	46.35	22.06	4.77	2.94
Levered Free Cash Flow, 3 Yr. CAGR %	37.06	54.44	15.27	16.46	39.52
Unlevered Free Cash Flow, 3 Yr. CAGR %	39.12	44.12	20.31	16.37	23.86
Dividend Per Share, 3 Yr. CAGR %	14.17	15.27	10.51	4.77	0.97
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	49.54	39	36.32	24.8	14.95
Gross Profit, 5 Yr. CAGR %	46.99	36.33	34.49	24.32	13.53
EBITA, 5 Yr. CAGR %	51.18	38.36	35.75	25.15	12.82
EBIT, 5 Yr. CAGR %	51.18	38.36	35.75	25.15	12.82
Earnings From Cont. Operations, 5 Yr. CAGR %	50.99	7.42	57.35	11.72	11.62
Net Income, 5 Yr. CAGR %	50.99	7.42	57.35	11.72	11.62
Diluted EPS Before Extra, 5 Yr. CAGR %	16.95	-14	33.72	-1.09	4.4
Normalized Net Income, 5 Yr. CAGR %	53.96	34.13	36.46	36	8.06
Net Property, Plant and Equip., 5 Yr. CAGR %	39.83	32.93	24.57	18.38	-
Total Assets, 5 Yr. CAGR %	41.9	34.05	25.54	18.47	8.73
Common Equity, 5 Yr. CAGR %	43.38	26.45	25.68	20.32	9.06
Tangible Book Value, 5 Yr. CAGR %	43.38	26.45	25.68	20.32	9.06
Cash From Operations, 5 Yr. CAGR %	45.52	40.63	28.68	24.12	14.84
Levered Free Cash Flow, 5 Yr. CAGR %	155.65	17.42	25.21	62.98	11.99
Unlevered Free Cash Flow, 5 Yr. CAGR %	79.55	27.67	28.82	44.16	13.73
Dividend Per Share, 5 Yr. CAGR %	13.26	13.56	11.34	9.22	6.49