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Imperial Equities

TSXV:IEI
Snowflake Description

Moderate growth potential and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
IEI
TSXV
CA$38M
Market Cap
  1. Home
  2. CA
  3. Real Estate
Company description

Imperial Equities Inc. engages in the acquisition, development, redevelopment, leasing, and sale of commercial and industrial properties primarily in Edmonton and Alberta, Canada. The last earnings update was 41 days ago. More info.


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IEI Share Price and Events
7 Day Returns
0%
TSXV:IEI
-0.6%
CA Real Estate
0.7%
CA Market
1 Year Returns
-2.2%
TSXV:IEI
7.7%
CA Real Estate
-1.2%
CA Market
IEI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Imperial Equities (IEI) 0% 5.5% 14.3% -2.2% -16.7% -20%
CA Real Estate -0.6% 4% 5.9% 7.7% 48.2% 35.8%
CA Market 0.7% 1.1% 0.9% -1.2% 14.1% 1.6%
1 Year Return vs Industry and Market
  • IEI underperformed the Real Estate industry which returned 7.7% over the past year.
  • IEI underperformed the Market in Canada which returned -1.2% over the past year.
Price Volatility
IEI
Industry
5yr Volatility vs Market

IEI Value

 Is Imperial Equities undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Imperial Equities to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Imperial Equities.

TSXV:IEI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 13.9%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSXV:IEI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 1.03
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.031 (1 + (1- 26.5%) (302.05%))
2.555
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (2 * 5.96%)
13.87%

Discounted Cash Flow Calculation for TSXV:IEI using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Imperial Equities is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

TSXV:IEI DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 13.87%)
2019 8.18 Est @ -4.23% 7.19
2020 7.99 Est @ -2.38% 6.16
2021 7.90 Est @ -1.08% 5.35
2022 7.89 Est @ -0.17% 4.69
2023 7.93 Est @ 0.46% 4.14
2024 8.00 Est @ 0.91% 3.67
2025 8.10 Est @ 1.22% 3.26
2026 8.21 Est @ 1.44% 2.91
2027 8.34 Est @ 1.59% 2.59
2028 8.48 Est @ 1.7% 2.32
Present value of next 10 years cash flows CA$42.28
TSXV:IEI DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CA$8.48 × (1 + 1.95%) ÷ (13.87% – 1.95%)
CA$72.57
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$72.57 ÷ (1 + 13.87%)10
CA$19.80
TSXV:IEI Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$42.28 + CA$19.80
CA$62.09
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$62.09 / 9.58
CA$6.48
TSXV:IEI Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$6.48
Current discount Discount to share price of CA$4.00
= -1 x (CA$4.00 - CA$6.48) / CA$6.48
38.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Imperial Equities is available for.
Intrinsic value
38%
Share price is CA$4 vs Future cash flow value of CA$6.48
Current Discount Checks
For Imperial Equities to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Imperial Equities's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Imperial Equities's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Imperial Equities's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Imperial Equities's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSXV:IEI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in CAD CA$0.08
TSXV:IEI Share Price ** TSXV (2019-06-04) in CAD CA$4
Canada Real Estate Industry PE Ratio Median Figure of 22 Publicly-Listed Real Estate Companies 13.32x
Canada Market PE Ratio Median Figure of 543 Publicly-Listed Companies 15.12x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Imperial Equities.

TSXV:IEI PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSXV:IEI Share Price ÷ EPS (both in CAD)

= 4 ÷ 0.08

51.9x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Imperial Equities is overvalued based on earnings compared to the CA Real Estate industry average.
  • Imperial Equities is overvalued based on earnings compared to the Canada market.
Price based on expected Growth
Does Imperial Equities's expected growth come at a high price?
Raw Data
TSXV:IEI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 51.9x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
22.3%per year
North America Real Estate Industry PEG Ratio Median Figure of 14 Publicly-Listed Real Estate Companies 0.78x
Canada Market PEG Ratio Median Figure of 248 Publicly-Listed Companies 1.18x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Imperial Equities, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Imperial Equities's assets?
Raw Data
TSXV:IEI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in CAD CA$8.95
TSXV:IEI Share Price * TSXV (2019-06-04) in CAD CA$4
Canada Real Estate Industry PB Ratio Median Figure of 39 Publicly-Listed Real Estate Companies 1.12x
Canada Market PB Ratio Median Figure of 2,426 Publicly-Listed Companies 1.45x
TSXV:IEI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSXV:IEI Share Price ÷ Book Value per Share (both in CAD)

= 4 ÷ 8.95

0.45x

* Primary Listing of Imperial Equities.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Imperial Equities is good value based on assets compared to the CA Real Estate industry average.
X
Value checks
We assess Imperial Equities's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Real Estate industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Real Estate industry average (and greater than 0)? (1 check)
  5. Imperial Equities has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

IEI Future Performance

 How is Imperial Equities expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Imperial Equities, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
22.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Imperial Equities expected to grow at an attractive rate?
  • Imperial Equities's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
  • Imperial Equities's earnings growth is expected to exceed the Canada market average.
  • Unable to compare Imperial Equities's revenue growth to the Canada market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
TSXV:IEI Future Growth Rates Data Sources
Data Point Source Value (per year)
TSXV:IEI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 22.3%
Canada Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 17.3%
Canada Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 4.7%
Canada Market Earnings Growth Rate Market Cap Weighted Average 14.9%
Canada Market Revenue Growth Rate Market Cap Weighted Average 6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSXV:IEI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSXV:IEI Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-03-31 14 9 1
2018-12-31 14 8 1
2018-09-30 13 7 2
2018-06-30 13 6 1
2018-03-31 14 9 5
2017-12-31 13 8 5
2017-09-30 13 7 5
2017-06-30 12 7 5
2017-03-31 11 6 5
2016-12-31 11 10 5
2016-09-30 11 5 4
2016-06-30 11 6 4

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Imperial Equities's earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if Imperial Equities is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSXV:IEI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Imperial Equities Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSXV:IEI Past Financials Data
Date (Data in CAD Millions) EPS *
2019-03-31 0.08
2018-12-31 0.08
2018-09-30 0.24
2018-06-30 0.08
2018-03-31 0.47
2017-12-31 0.49
2017-09-30 0.49
2017-06-30 0.47
2017-03-31 0.49
2016-12-31 0.47
2016-09-30 0.46
2016-06-30 0.37

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Imperial Equities will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Imperial Equities's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Imperial Equities has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

IEI Past Performance

  How has Imperial Equities performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Imperial Equities's growth in the last year to its industry (Real Estate).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Imperial Equities's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Imperial Equities's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Imperial Equities's 1-year earnings growth is negative, it can't be compared to the CA Real Estate industry average.
Earnings and Revenue History
Imperial Equities's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Imperial Equities Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSXV:IEI Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 14.01 0.74 0.79
2018-12-31 13.64 0.79 1.03
2018-09-30 13.25 2.34 1.29
2018-06-30 13.14 0.81 1.33
2018-03-31 13.53 4.54 1.41
2017-12-31 13.25 4.67 1.49
2017-09-30 12.88 4.74 1.44
2017-06-30 12.13 4.52 1.36
2017-03-31 11.50 4.68 1.14
2016-12-31 11.00 4.51 1.01
2016-09-30 10.75 4.41 0.99
2016-06-30 10.83 3.61 0.98
2016-03-31 10.97 3.68 1.02
2015-12-31 10.89 4.58 1.00
2015-09-30 10.77 6.63 1.00
2015-06-30 27.04 7.68 1.84
2015-03-31 38.03 9.59 2.25
2014-12-31 52.14 8.92 2.69
2014-09-30 67.41 7.63 3.19
2014-06-30 67.38 9.31 2.77
2014-03-31 70.45 6.97 2.85
2013-12-31 67.93 5.70 2.82
2013-09-30 64.62 4.83 2.63
2013-06-30 59.78 4.18 2.56
2013-03-31 57.53 8.79 2.29
2012-12-31 56.96 8.86 2.20
2012-09-30 55.01 8.86 2.13
2012-06-30 53.56 7.52 2.13

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Imperial Equities has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Imperial Equities used its assets less efficiently than the CA Real Estate industry average last year based on Return on Assets.
  • Imperial Equities has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Imperial Equities's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Real Estate industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Imperial Equities has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

IEI Health

 How is Imperial Equities's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Imperial Equities's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Imperial Equities's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Imperial Equities's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Imperial Equities's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Imperial Equities Company Filings, last reported 2 months ago.

TSXV:IEI Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 85.76 115.79 0.48
2018-12-31 84.47 116.53 0.27
2018-09-30 85.42 107.90 2.72
2018-06-30 82.08 95.81 0.47
2018-03-31 85.26 92.79 0.26
2017-12-31 83.81 93.03 0.27
2017-09-30 83.21 90.46 0.84
2017-06-30 81.45 90.17 0.05
2017-03-31 80.88 86.49 0.07
2016-12-31 79.30 77.29 0.43
2016-09-30 78.58 77.88 2.12
2016-06-30 77.06 68.94 1.13
2016-03-31 76.36 69.91 1.65
2015-12-31 74.96 72.56 0.28
2015-09-30 73.52 76.78 1.01
2015-06-30 72.85 78.13 0.12
2015-03-31 71.62 79.68 0.19
2014-12-31 69.39 83.51 0.39
2014-09-30 66.47 69.42 0.74
2014-06-30 64.21 68.61 0.32
2014-03-31 61.75 48.33 0.18
2013-12-31 60.56 52.87 0.33
2013-09-30 59.19 51.17 0.34
2013-06-30 55.85 53.48 0.16
2013-03-31 55.45 50.94 0.41
2012-12-31 55.31 47.51 0.93
2012-09-30 54.80 47.01 0.10
2012-06-30 51.73 45.24 0.08
  • Imperial Equities's level of debt (135%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (78.6% vs 135% today).
  • Debt is not well covered by operating cash flow (7.4%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.6x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Imperial Equities's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Imperial Equities has a total score of 0/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

IEI Dividends

 What is Imperial Equities's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Imperial Equities dividends.
If you bought CA$2,000 of Imperial Equities shares you are expected to receive CA$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Imperial Equities's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Imperial Equities's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSXV:IEI Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Canada Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 16 Stocks 1.9%
Canada Market Average Dividend Yield Market Cap Weighted Average of 336 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.2%
Canada Bottom 25% Dividend Yield 25th Percentile 2.1%
Canada Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSXV:IEI Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2016-08-17 0.000 0.000
2016-05-17 0.000 0.000
2016-02-19 0.000 0.000
2015-12-11 0.000 0.000
2015-08-18 0.000 0.000
2015-05-26 0.000 0.000
2015-02-20 0.000 0.000
2014-08-28 0.100 2.124
2014-06-09 0.100 1.970
2014-04-02 0.100 2.007
2013-12-27 0.100 1.979
2013-08-29 0.100 2.158
2013-07-05 0.100 2.171
2013-01-31 0.100 2.242

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Imperial Equities has not reported any payouts.
  • Unable to verify if Imperial Equities's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Imperial Equities's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Imperial Equities has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Imperial Equities's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Imperial Equities afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Imperial Equities has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

IEI Management

 What is the CEO of Imperial Equities's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Sine Chadi
COMPENSATION CA$300,000
CEO Bio

Mr. Sine Chadi serves as the Chairman, Chief Executive Officer, President and Secretary of Imperial Equities Inc. At Imperial, Mr. Chadi oversees all the day to day aspects of its growth, development and management. He serves as the President of North American Mortgage Corp. Mr. Chadi is the principal driver of Imperial Equities Inc. and has overseen all day-today aspects of its growth and development. He has more than 40 years professional experience in the real estate sector. He Founded of North American Mortgage Corp., as well as of numerous other companies involved in the acquisition, redevelopment and disposition of real estate assets. He served as the Chief Financial Officer of Imperial Equities Inc. Mr. Chadi serves as a Director of North American Mortgage Corp. He has been a Director of Imperial Equities Inc. since September 13, 1996. He served as a Member of the Legislative Assembly of Alberta from 1993 to 1997. Mr. Chadi is also an active community leader and fundraiser for a number of community groups including the Boys and Girls Clubs, Crystal Kids and the Glenrose Hospital Foundation.

CEO Compensation
  • Sine's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Sine's remuneration is higher than average for companies of similar size in Canada.
Management Team

Sine Chadi

TITLE
Chairman
COMPENSATION
CA$300K

Wendy Fair

TITLE
Chief Financial Officer
COMPENSATION
CA$200K
TENURE
9.1 yrs
Board of Directors Tenure

Average tenure of the Imperial Equities board of directors in years:

3.3
Average Tenure
  • The tenure for the Imperial Equities board of directors is about average.
Board of Directors

Sine Chadi

TITLE
Chairman
COMPENSATION
CA$300K

Diane Buchanan

TITLE
Independent Director
COMPENSATION
CA$10K
TENURE
21.2 yrs

Kevin Lynch

TITLE
Director
COMPENSATION
CA$13K
TENURE
21.2 yrs

Dave Majeski

TITLE
Independent Director
COMPENSATION
CA$13K
TENURE
3.3 yrs

Susan Green

TITLE
Director
COMPENSATION
CA$10K
TENURE
1.4 yrs

Robert Westbury

TITLE
Director
TENURE
0.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
05. Feb 19 Buy Sine Chadi Individual 05. Feb 19 05. Feb 19 500,000 CA$4.09 CA$2,045,000
X
Management checks
We assess Imperial Equities's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Imperial Equities has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

IEI News

Simply Wall St News

Are Imperial Equities Inc.'s (CVE:IEI) Interest Costs Too High?

However, an important fact which most ignore is: how financially healthy is the business? … So, understanding the company's financial health becomes. … Here are few basic financial health checks you should consider before taking the plunge.

Simply Wall St -

Here's What Imperial Equities Inc's (CVE:IEI) P/E Is Telling Us

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … We'll look at Imperial Equities Inc's (CVE:IEI) P/E ratio and reflect on what it tells us about the company's share price. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

What Investors Should Know About Imperial Equities Inc's (CVE:IEI) Financial Strength

However, an important fact which most ignore is: how financially healthy is the business? … Assessing first and foremost the financial health is. … Here are few basic financial health checks you should consider before taking the plunge.

Simply Wall St -

Is Imperial Equities Inc (CVE:IEI) Attractive At This PE Ratio?

The content of this article will benefit those of you who are starting to educate yourself about investing in the stock market. … and want to learn about the link between company’s fundamentals and stock market performance. … While IEI might seem like an attractive stock to buy, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions.

Simply Wall St -

Will Imperial Equities Inc (CVE:IEI) Continue To Underperform Its Industry?

and want to start learning about core concepts of fundamental analysis on practical examples from today's market. … Imperial Equities Inc (CVE:IEI) delivered a less impressive 5.32% ROE over the past year, compared to the 11.73% return generated by its industry. … An investor may attribute an inferior ROE to a relatively inefficient performance, and whilst this can often be the case, knowing the nuts and bolts of the ROE calculation may change that perspective and give you a deeper insight into IEI's past performance

Simply Wall St -

With A -3.03% Earnings Drop, Is Imperial Equities Inc's (CVE:IEI) A Concern?

Assessing Imperial Equities Inc's (CVE:IEI) past track record of performance is a valuable exercise for investors. … Today I will assess IEI's recent performance announced on 31 March 2018 and evaluate these figures to its longer term trend and industry movements. … IEI's trailing twelve-month earnings (from 31 March 2018) of CA$4.54m has

Simply Wall St -

Is Imperial Equities Inc's (CVE:IEI) Balance Sheet A Threat To Its Future?

On top of this, IEI has generated cash from operations of CA$6.08M in the last twelve months, resulting in an operating cash to total debt ratio of 6.72%, signalling that IEI’s current level of operating cash is not high enough to cover debt. … At the current liabilities level of CA$23.35M liabilities, it appears that the company is not able to meet these obligations given the level of current assets of CA$3.43M, with a current ratio of 0.15x below the prudent level of 3x. … For IEI, the ratio of 3.15x suggests that interest is appropriately covered, which means that lenders may be inclined to lend more money to the company, as it is seen as safe in terms of payback.Next Steps: With a high level of debt on its balance sheet, IEI could still be in a financially strong position if its cash flow also stacked up.

Simply Wall St -

IEI Company Info

Description

Imperial Equities Inc. engages in the acquisition, development, redevelopment, leasing, and sale of commercial and industrial properties primarily in Edmonton and Alberta, Canada. The company was founded in 1998 and is headquartered in Edmonton, Canada.

Details
Name: Imperial Equities Inc.
IEI
Exchange: TSXV
Founded: 1998
CA$38,334,568
9,583,642
Website: http://www.imperialequities.com
Address: Imperial Equities Inc.
2151 Scotia Place,
10060 Jasper Avenue,
Edmonton,
Alberta, T5J 3R8,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSXV IEI Common Shares TSX Venture Exchange CA CAD 09. Nov 1998
Number of employees
Current staff
Staff numbers
0
Imperial Equities employees.
Industry
Real Estate Operating Companies
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/25 23:44
End of day share price update: 2019/06/04 00:00
Last earnings filing: 2019/05/15
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/09/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.