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How does PMZ-UN.TO make money? Does PMZ-UN.TO have pricing power? What's the Earnings Whisper? Will PMZ-UN.TO profit more as the business scales? What is PMZ-UN.TO's management track record? Is PMZ-UN.TO's current price justified?

Primaris Real Estate Investment Trust

CAD 20.91 +$5.36 (+34.47%)

TSX · 14 Sep 2026 16:13 UTC

Previous Close

CAD 20.9

Day Range

CAD 20.73CAD 21.04

Year Range

CAD 14.67CAD 23.36

Market Cap

2.46B

AVG Volume

267.43K

Trailing/Forward PE

20.49/18.42

PEG ratio

0.42

Dividend Yield

4.18%

Next Earnings Date

2026-10-28

Primary Exchange

Toronto Stock Exchange

Revenue (CAD)

PMZ-UN.TO Revenue (CAD) by year
Period	Revenue (CAD)
2025	653.01M
2024	507.25M
2023	410.97M
2022	380.06M
2021	253.98M
2020	266.27M
2012	411.03M
2011	365.35M
2010	322.99M
2009	273.94M

Net Income (CAD)

PMZ-UN.TO Net Income (CAD) by year
Period	Net Income (CAD)
2025	183.19M
2024	79.47M
2023	102.27M
2022	-12.08M
2021	354.57M
2020	-266.85M
2012	266.36M
2011	231.8M
2010	65.46M
2009	6.67M

Operating Income (CAD)

PMZ-UN.TO Operating Income (CAD) by year
Period	Operating Income (CAD)
2025	351.01M
2024	257.8M
2023	198.98M
2022	187.21M
2021	130.42M
2020	108.36M
2012	203.22M
2011	191.91M
2010	44.06M
2009	81.05M

EBITDA (CAD)

PMZ-UN.TO EBITDA (CAD) by year
Period	EBITDA (CAD)
2025	313.31M
2024	171.44M
2023	201.57M
2022	66.29M
2021	309.74M
2020	108.36M
2012	314.67M
2011	345.25M
2010	165.75M
2009	140.91M

Cash Flows (CAD)

PMZ-UN.TO Cash Flows (CAD) by year
Period	Cash Flows (CAD)
2025	210.22M
2024	130.75M
2023	151.98M
2022	163.39M
2021	-76.17M
2020	278.85M
2012	189.74M
2011	-437.77M
2010	-97.61M
2009	-234.24M

EPS (CAD)

PMZ-UN.TO EPS (CAD) by year
Period	EPS (CAD)
2025	1.53
2024	0.71
2023	1.03
2022	-0.13
2021	3.42
2020	-2.65
2012	2.85
2011	2.79
2010	0.95
2009	0.1

Expenses (CAD)

PMZ-UN.TO Expenses (CAD) by year
Period	Expenses (CAD)
2025	45.05M
2024	74.33M
2023	50.02M
2022	28.75M
2021	13.53M
2020	10.34M
2012	55.15M
2011	622.73M
2010	198.68M
2009	342.13M

Cash & Debt (CAD)

PMZ-UN.TO Cash & Debt (CAD) by year
Period	Cash & Debt (CAD)
2025	34.29M
2024	114.77M
2023	44.32M
2022	10.95M
2021	5.64M
2020	15.01M
2012	45.62M
2011	0
2010	6.5M
2009	15.45M

Debt ratios

PMZ-UN.TO Debt ratios by year
Period	Debt ratios
2025	2.86
2024	2.13
2023	2.1
2022	1.25
2021	0.51
2020	0.64
2012	0.11
2011	2.15

Margins

PMZ-UN.TO Margins by year
Period	Margins
2025	57.06%
2024	58.79%
2023	56.85%
2022	55.49%
2021	55.5%
2020	44.24%
2012	70.18%
2011	55.85%
2010	61.78%
2009	56.67%

Return on Capital

PMZ-UN.TO Return on Capital by year
Period	Return on Capital
2025	7.23%
2024	3.68%
2023	4.86%
2022	-0.58%
2021	16.18%
2020	-26.64%
2012	11.43%
2011	13.08%
2010	11.67%
2009	1.41%

Shares Outstanding

PMZ-UN.TO Shares Outstanding by year
Period	Shares Outstanding
2025	136.86M
2024	111.88M
2023	101.74M
2022	98.3M
2021	101.59M
2020	100.36M
2012	98.75M
2011	83.72M
2010	68.65M
2009	62.43M

Dividends (CAD)

PMZ-UN.TO Dividends (CAD) by year
Period	Dividends (CAD)
2026	0.66
2025	0.86
2024	0.84
2023	0.82
2022	0.8

Book Value Per Share (CAD)

PMZ-UN.TO Book Value Per Share (CAD) by year
Period	Book Value Per Share (CAD)
2025	18.51
2024	19.32
2023	20.68
2022	21.24
2021	21.57
2020	9.98
2012	23.6
2011	21.17
2010	8.17
2009	7.55

Total Assets (CAD)

PMZ-UN.TO Total Assets (CAD) by year
Period	Total Assets (CAD)
2025	5.28B
2024	4.27B
2023	3.9B
2022	3.2B
2021	3.25B
2020	2.13B
2012	4.22B
2011	3.59B
2010	1.97B
2009	1.86B

PE Ratio

PMZ-UN.TO PE Ratio by year
Period	PE Ratio
Sep 26	12.69
Sep 26	12.84
Aug 26	13.14
Aug 26	13.09
Aug 26	13.49
Aug 26	13.53
Jul 26	13.91
Jul 26	13.98
Jul 26	14.07
Jul 26	13.54
Jul 26	13.48
Jun 26	16.07
Jun 26	15.41
Jun 26	15.25
Jun 26	14.68
May 26	14.67
May 26	14.46
May 26	14.11
May 26	14.37
May 26	14.19
Apr 26	14.11
Apr 26	14.31
Apr 26	13.76
Apr 26	13.32
Mar 26	15
Mar 26	14.81
Mar 26	15.21
Mar 26	15.45
Feb 26	16.04
Feb 26	15.5
Feb 26	15.2
Feb 26	15.07
Jan 26	14.54
Jan 26	14.85
Jan 26	14.79
Jan 26	14.75
Jan 26	13.66
Dec 25	22.78
Dec 25	23.09
Dec 25	22.6
Dec 25	22.04
Nov 25	22.45
Nov 25	22.48
Nov 25	22.22
Nov 25	22.69
Oct 25	22.68
Oct 25	23.3
Oct 25	22.31
Oct 25	21.78
Oct 25	22.79
Sep 25	24.15
Sep 25	24.6
Sep 25	24.35
Sep 25	23.96
Aug 25	23.78
Aug 25	24.13
Aug 25	23.88
Aug 25	23.5
Aug 25	23.42
Jul 25	23.29
Jul 25	23.61
Jul 25	24.11
Jul 25	23.99
Jun 25	20.65
Jun 25	20.57
Jun 25	21.57
Jun 25	21.61
May 25	21.59
May 25	21.12
May 25	21.27
May 25	20.79
May 25	20.05
Apr 25	19.92
Apr 25	20.13
Apr 25	19.38
Apr 25	20.19
Mar 25	20
Mar 25	20.33
Mar 25	20.1
Mar 25	20.87
Feb 25	21.18
Feb 25	20.65
Feb 25	20.59
Feb 25	19.89
Jan 25	20.02
Jan 25	19.57
Jan 25	19.61
Jan 25	19.85
Jan 25	20.94
Dec 24	13.54
Dec 24	13.71
Dec 24	13.85
Dec 24	14.13
Nov 24	13.95
Nov 24	13.75
Nov 24	13.66
Nov 24	13.79
Nov 24	13.6
Oct 24	13.62
Oct 24	13.7

Free Cash Flow Yield

PMZ-UN.TO Free Cash Flow Yield by year
Period	Free Cash Flow Yield
Sep 26	8.49%
Sep 26	8.39%
Aug 26	8.2%
Aug 26	8.23%
Aug 26	7.99%
Aug 26	7.96%
Jul 26	7.74%
Jul 26	7.71%
Jul 26	7.65%
Jul 26	7.96%
Jul 26	7.99%
Jun 26	7.14%
Jun 26	7.45%
Jun 26	7.53%
Jun 26	7.82%
May 26	7.82%
May 26	7.93%
May 26	8.13%
May 26	7.99%
May 26	8.09%
Apr 26	8.13%
Apr 26	8.02%
Apr 26	8.34%
Apr 26	8.61%
Mar 26	8.64%
Mar 26	8.76%
Mar 26	8.52%
Mar 26	8.39%
Feb 26	8.08%
Feb 26	8.36%
Feb 26	8.53%
Feb 26	8.61%
Jan 26	8.92%
Jan 26	8.73%
Jan 26	8.77%
Jan 26	8.79%
Jan 26	9.49%
Dec 25	10.78%
Dec 25	10.64%
Dec 25	10.86%
Dec 25	11.14%
Nov 25	10.94%
Nov 25	10.92%
Nov 25	11.05%
Nov 25	10.82%
Oct 25	10.83%
Oct 25	10.54%
Oct 25	11.01%
Oct 25	11.28%
Oct 25	10.77%
Sep 25	10.4%
Sep 25	10.21%
Sep 25	10.31%
Sep 25	10.48%
Aug 25	10.56%
Aug 25	10.41%
Aug 25	10.52%
Aug 25	10.69%
Aug 25	10.72%
Jul 25	10.78%
Jul 25	10.64%
Jul 25	10.41%
Jul 25	10.47%
Jun 25	7.97%
Jun 25	8%
Jun 25	7.63%
Jun 25	7.61%
May 25	7.62%
May 25	7.79%
May 25	7.73%
May 25	7.91%
May 25	8.21%
Apr 25	8.26%
Apr 25	8.17%
Apr 25	8.49%
Apr 25	8.15%
Mar 25	6.84%
Mar 25	6.73%
Mar 25	6.81%
Mar 25	6.56%
Feb 25	6.46%
Feb 25	6.63%
Feb 25	6.65%
Feb 25	6.88%
Jan 25	6.84%
Jan 25	6.99%
Jan 25	6.98%
Jan 25	6.9%
Jan 25	6.54%
Dec 24	7.24%
Dec 24	7.15%
Dec 24	7.08%
Dec 24	6.94%
Nov 24	7.03%
Nov 24	7.13%
Nov 24	7.17%
Nov 24	7.11%
Nov 24	7.21%
Oct 24	7.2%
Oct 24	7.16%

Price to Sales

PMZ-UN.TO Price to Sales by year
Period	Price to Sales
Sep 26	3.62
Sep 26	3.66
Aug 26	3.75
Aug 26	3.73
Aug 26	3.85
Aug 26	3.86
Jul 26	3.97
Jul 26	3.99
Jul 26	4.01
Jul 26	3.86
Jul 26	3.84
Jun 26	4.51
Jun 26	4.32
Jun 26	4.28
Jun 26	4.12
May 26	4.12
May 26	4.06
May 26	3.96
May 26	4.03
May 26	3.98
Apr 26	3.96
Apr 26	4.01
Apr 26	3.86
Apr 26	3.74
Mar 26	3.57
Mar 26	3.52
Mar 26	3.62
Mar 26	3.68
Feb 26	3.82
Feb 26	3.69
Feb 26	3.62
Feb 26	3.58
Jan 26	3.46
Jan 26	3.53
Jan 26	3.52
Jan 26	3.51
Jan 26	3.25
Dec 25	2.93
Dec 25	2.97
Dec 25	2.91
Dec 25	2.84
Nov 25	2.89
Nov 25	2.89
Nov 25	2.86
Nov 25	2.92
Oct 25	2.92
Oct 25	3
Oct 25	2.87
Oct 25	2.8
Oct 25	2.93
Sep 25	2.91
Sep 25	2.97
Sep 25	2.94
Sep 25	2.89
Aug 25	2.87
Aug 25	2.91
Aug 25	2.88
Aug 25	2.84
Aug 25	2.83
Jul 25	2.81
Jul 25	2.85
Jul 25	2.91
Jul 25	2.89
Jun 25	3.24
Jun 25	3.22
Jun 25	3.38
Jun 25	3.39
May 25	3.38
May 25	3.31
May 25	3.33
May 25	3.26
May 25	3.14
Apr 25	3.12
Apr 25	3.15
Apr 25	3.04
Apr 25	3.16
Mar 25	2.98
Mar 25	3.03
Mar 25	3
Mar 25	3.11
Feb 25	3.16
Feb 25	3.08
Feb 25	3.07
Feb 25	2.97
Jan 25	2.99
Jan 25	2.92
Jan 25	2.92
Jan 25	2.96
Jan 25	3.12
Dec 24	3.58
Dec 24	3.63
Dec 24	3.66
Dec 24	3.74
Nov 24	3.69
Nov 24	3.64
Nov 24	3.62
Nov 24	3.65
Nov 24	3.6
Oct 24	3.61
Oct 24	3.63

EV/EBITDA

PMZ-UN.TO EV/EBITDA by year
Period	EV/EBITDA
Sep 26	15.4
Sep 26	15.49
Aug 26	15.67
Aug 26	15.64
Aug 26	15.87
Aug 26	15.9
Jul 26	16.13
Jul 26	16.17
Jul 26	16.22
Jul 26	15.91
Jul 26	15.87
Jun 26	16.27
Jun 26	15.88
Jun 26	15.79
Jun 26	15.46
May 26	15.45
May 26	15.33
May 26	15.12
May 26	15.27
May 26	15.17
Apr 26	15.12
Apr 26	15.24
Apr 26	14.92
Apr 26	14.66
Mar 26	16.15
Mar 26	16.04
Mar 26	16.27
Mar 26	16.4
Feb 26	16.72
Feb 26	16.43
Feb 26	16.26
Feb 26	16.18
Jan 26	15.89
Jan 26	16.06
Jan 26	16.03
Jan 26	16.01
Jan 26	15.4
Dec 25	22.03
Dec 25	22.16
Dec 25	21.95
Dec 25	21.71
Nov 25	21.89
Nov 25	21.9
Nov 25	21.78
Nov 25	21.99
Oct 25	21.98
Oct 25	22.25
Oct 25	21.82
Oct 25	21.59
Oct 25	22.03
Sep 25	20.66
Sep 25	20.84
Sep 25	20.74
Sep 25	20.58
Aug 25	20.51
Aug 25	20.65
Aug 25	20.55
Aug 25	20.4
Aug 25	20.37
Jul 25	20.32
Jul 25	20.44
Jul 25	20.64
Jul 25	20.59
Jun 25	18.88
Jun 25	18.84
Jun 25	19.31
Jun 25	19.33
May 25	19.32
May 25	19.1
May 25	19.17
May 25	18.95
May 25	18.6
Apr 25	18.54
Apr 25	18.64
Apr 25	18.3
Apr 25	18.67
Mar 25	16.49
Mar 25	16.63
Mar 25	16.54
Mar 25	16.85
Feb 25	16.97
Feb 25	16.76
Feb 25	16.73
Feb 25	16.45
Jan 25	16.5
Jan 25	16.32
Jan 25	16.34
Jan 25	16.43
Jan 25	16.87
Dec 24	13.74
Dec 24	13.83
Dec 24	13.9
Dec 24	14.05
Nov 24	13.95
Nov 24	13.85
Nov 24	13.81
Nov 24	13.87
Nov 24	13.78
Oct 24	13.78
Oct 24	13.82

Price/Operating Cashflow

PMZ-UN.TO Price/Operating Cashflow by year
Period	Price/Operating Cashflow
Sep 26	10.96
Sep 26	11.09
Aug 26	11.35
Aug 26	11.3
Aug 26	11.65
Aug 26	11.69
Jul 26	12.01
Jul 26	12.07
Jul 26	12.15
Jul 26	11.69
Jul 26	11.64
Jun 26	13.02
Jun 26	12.48
Jun 26	12.36
Jun 26	11.9
May 26	11.89
May 26	11.72
May 26	11.44
May 26	11.64
May 26	11.5
Apr 26	11.44
Apr 26	11.59
Apr 26	11.15
Apr 26	10.8
Mar 26	10.68
Mar 26	10.54
Mar 26	10.83
Mar 26	10.99
Feb 26	11.41
Feb 26	11.03
Feb 26	10.81
Feb 26	10.72
Jan 26	10.34
Jan 26	10.56
Jan 26	10.53
Jan 26	10.49
Jan 26	9.72
Dec 25	8.66
Dec 25	8.77
Dec 25	8.59
Dec 25	8.38
Nov 25	8.53
Nov 25	8.54
Nov 25	8.44
Nov 25	8.62
Oct 25	8.62
Oct 25	8.85
Oct 25	8.48
Oct 25	8.28
Oct 25	8.66
Sep 25	8.58
Sep 25	8.74
Sep 25	8.65
Sep 25	8.51
Aug 25	8.45
Aug 25	8.57
Aug 25	8.48
Aug 25	8.35
Aug 25	8.32
Jul 25	8.27
Jul 25	8.38
Jul 25	8.56
Jul 25	8.52
Jun 25	9.77
Jun 25	9.73
Jun 25	10.2
Jun 25	10.22
May 25	10.21
May 25	9.99
May 25	10.06
May 25	9.83
May 25	9.48
Apr 25	9.42
Apr 25	9.52
Apr 25	9.17
Apr 25	9.55
Mar 25	10.33
Mar 25	10.51
Mar 25	10.39
Mar 25	10.78
Feb 25	10.94
Feb 25	10.67
Feb 25	10.64
Feb 25	10.28
Jan 25	10.35
Jan 25	10.11
Jan 25	10.13
Jan 25	10.26
Jan 25	10.82
Dec 24	11.22
Dec 24	11.36
Dec 24	11.47
Dec 24	11.71
Nov 24	11.56
Nov 24	11.39
Nov 24	11.32
Nov 24	11.43
Nov 24	11.27
Oct 24	11.29
Oct 24	11.35

Price to Book

PMZ-UN.TO Price to Book by year
Period	Price to Book
Sep 26	0.97
Sep 26	0.98
Aug 26	1
Aug 26	1
Aug 26	1.03
Aug 26	1.03
Jul 26	1.06
Jul 26	1.07
Jul 26	1.07
Jul 26	1.03
Jul 26	1.03
Jun 26	1.16
Jun 26	1.11
Jun 26	1.1
Jun 26	1.06
May 26	1.06
May 26	1.05
May 26	1.02
May 26	1.04
May 26	1.03
Apr 26	1.02
Apr 26	1.03
Apr 26	1
Apr 26	0.96
Mar 26	0.92
Mar 26	0.91
Mar 26	0.94
Mar 26	0.95
Feb 26	0.99
Feb 26	0.96
Feb 26	0.94
Feb 26	0.93
Jan 26	0.9
Jan 26	0.92
Jan 26	0.91
Jan 26	0.91
Jan 26	0.84
Dec 25	0.71
Dec 25	0.72
Dec 25	0.71
Dec 25	0.69
Nov 25	0.7
Nov 25	0.7
Nov 25	0.69
Nov 25	0.71
Oct 25	0.71
Oct 25	0.73
Oct 25	0.7
Oct 25	0.68
Oct 25	0.71
Sep 25	0.71
Sep 25	0.73
Sep 25	0.72
Sep 25	0.71
Aug 25	0.7
Aug 25	0.71
Aug 25	0.7
Aug 25	0.69
Aug 25	0.69
Jul 25	0.69
Jul 25	0.7
Jul 25	0.71
Jul 25	0.71
Jun 25	0.76
Jun 25	0.76
Jun 25	0.79
Jun 25	0.79
May 25	0.79
May 25	0.78
May 25	0.78
May 25	0.76
May 25	0.74
Apr 25	0.73
Apr 25	0.74
Apr 25	0.71
Apr 25	0.74
Mar 25	0.68
Mar 25	0.69
Mar 25	0.69
Mar 25	0.71
Feb 25	0.72
Feb 25	0.7
Feb 25	0.7
Feb 25	0.68
Jan 25	0.68
Jan 25	0.67
Jan 25	0.67
Jan 25	0.68
Jan 25	0.71
Dec 24	0.77
Dec 24	0.78
Dec 24	0.79
Dec 24	0.81
Nov 24	0.8
Nov 24	0.79
Nov 24	0.78
Nov 24	0.79
Nov 24	0.78
Oct 24	0.78
Oct 24	0.78

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Primaris Real Estate Investment Trust

Video analysis: PMZ-UN.TO

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