Real Matters Inc.

TSX:REAL Stock Report

Market Cap: CA$446.4m

Real Matters Valuation

Is REAL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of REAL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
CA$22.26
Fair Value
72.9% undervalued intrinsic discount
7
Number of Analysts

Below Fair Value: REAL (CA$6.04) is trading below our estimate of fair value (CA$22.26)

Significantly Below Fair Value: REAL is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for REAL?

Key metric: As REAL is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for REAL. This is calculated by dividing REAL's market cap by their current earnings.
What is REAL's PE Ratio?
PE Ratio52.1x
EarningsUS$5.90m
Market CapUS$307.08m

Price to Earnings Ratio vs Peers

How does REAL's PE Ratio compare to its peers?

The above table shows the PE ratio for REAL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average40.9x
ISC Information Services
24x25.3%CA$496.6m
CIGI Colliers International Group
46.7x24.1%CA$10.5b
WFC Wall Financial
16.9xn/aCA$422.2m
FSV FirstService
76.1x23.3%CA$12.0b
REAL Real Matters
52.1x53.5%CA$446.4m

Price-To-Earnings vs Peers: REAL is expensive based on its Price-To-Earnings Ratio (52.1x) compared to the peer average (40.9x).

Price to Earnings Ratio vs Industry

How does REAL's PE Ratio compare vs other companies in the CA Real Estate Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
IMPT Impact Development Group
1.2xn/aUS$12.98m
EMER Emergia
0.3xn/aUS$7.49m
No more companies available in this PE range
REAL 52.1xIndustry Avg. 19.0xNo. of Companies4PE01224364860+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: REAL is expensive based on its Price-To-Earnings Ratio (52.1x) compared to the North American Real Estate industry average (19x).

Price to Earnings Ratio vs Fair Ratio

What is REAL's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

REAL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio52.1x
Fair PE Ratio46.1x

Price-To-Earnings vs Fair Ratio: REAL is expensive based on its Price-To-Earnings Ratio (52.1x) compared to the estimated Fair Price-To-Earnings Ratio (46.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst REAL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$6.04
CA$8.29
+37.2%
20.8%CA$12.11CA$6.56n/a7
Jan ’26CA$6.54
CA$8.66
+32.5%
14.1%CA$11.00CA$7.12n/a7
Dec ’25CA$6.76
CA$8.54
+26.3%
14.8%CA$11.02CA$6.99n/a7
Nov ’25CA$7.35
CA$9.42
+28.2%
12.5%CA$11.00CA$7.50n/a7
Oct ’25CA$9.34
CA$8.63
-7.6%
13.5%CA$10.67CA$7.27n/a7
Sep ’25CA$7.65
CA$8.54
+11.6%
12.6%CA$11.01CA$7.50n/a7
Aug ’25CA$7.35
CA$7.61
+3.5%
14.9%CA$10.02CA$6.51n/a7
Jul ’25CA$6.28
CA$7.40
+17.8%
15.5%CA$9.96CA$6.47n/a7
Jun ’25CA$5.71
CA$7.40
+29.6%
15.5%CA$9.96CA$6.47n/a7
May ’25CA$5.16
CA$7.46
+44.6%
15.7%CA$10.02CA$6.51n/a7
Apr ’25CA$5.99
CA$7.38
+23.1%
16.0%CA$10.00CA$6.51n/a7
Mar ’25CA$6.01
CA$7.37
+22.6%
16.1%CA$10.00CA$6.50n/a7
Feb ’25CA$6.50
CA$6.79
+4.5%
18.5%CA$8.99CA$5.12CA$6.047
Jan ’25CA$6.30
CA$6.67
+5.9%
18.8%CA$8.99CA$5.25CA$6.547
Dec ’24CA$5.68
CA$6.67
+17.5%
18.8%CA$8.99CA$5.25CA$6.767
Nov ’24CA$4.81
CA$7.28
+51.3%
17.1%CA$9.63CA$5.53CA$7.357
Oct ’24CA$6.20
CA$7.64
+23.2%
16.2%CA$9.78CA$6.00CA$9.347
Sep ’24CA$6.74
CA$7.64
+13.3%
16.2%CA$9.78CA$6.00CA$7.657
Aug ’24CA$6.91
CA$7.45
+7.9%
15.8%CA$9.52CA$5.98CA$7.357
Jul ’24CA$6.06
CA$6.11
+0.7%
21.9%CA$8.99CA$4.47CA$6.287
Jun ’24CA$6.08
CA$6.11
+0.4%
21.9%CA$8.99CA$4.47CA$5.717
May ’24CA$5.56
CA$6.14
+10.4%
21.6%CA$8.99CA$4.50CA$5.167
Apr ’24CA$4.88
CA$5.98
+22.4%
22.8%CA$8.74CA$4.64CA$5.996
Mar ’24CA$5.93
CA$5.93
+0.02%
22.4%CA$8.63CA$4.58CA$6.016
Feb ’24CA$5.50
CA$5.74
+4.3%
21.8%CA$8.53CA$4.53CA$6.507
Analyst Price Target
Consensus Narrative from 7 Analysts
CA$8.29
Fair Value
27.1% undervalued intrinsic discount
7
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/02/02 03:14
End of Day Share Price 2025/01/31 00:00
Earnings2024/12/31
Annual Earnings2024/09/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Real Matters Inc. is covered by 9 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Martin TonerATB Capital Markets
Thanos MoschopoulosBMO Capital Markets Equity Research
David Ridley-LaneBofA Global Research