True North Commercial Real Estate Investment Trust (TSX:TNT.UN)

Canada · Delayed Price · Currency is CAD

8.64

+0.04 (0.47%)

Aug 11, 2026, 10:11 AM EST

TSX:TNT.UN Financials Overview

Financials in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	128.86	130.12	126.91	132.2	143.58	138.52
Revenue Growth	2.66%	2.53%	-4.01%	-7.92%	3.65%	-0.65%
Gross Profit	67.98	69.08	65.82	72.55	200.67	194.42
Operating Income	62.27	63.03	59.99	66.91	194.61	187.51
Net Income	-33.13	-33.04	-20.95	-42.1	13.19	47.24
Earnings Per Share	-2.36	-2.35	-1.38	-2.69	3.48	0.53
EPS Growth	-	-	-	-	553.61%	30.72%

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Investments	7.98	7.64	12.33	8.95	9.5	5.48
Total Debt	735.43	732.88	767.74	820.99	861.09	828.51
Net Cash (Debt)	-727.45	-725.24	-755.41	-812.05	-851.59	-823.04
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-51.72	-51.59	-49.61	-51.80	-224.75	-9.28

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Cash Flow	70.35	71.22	75.67	73.94	103.27	77.31
Capital Expenditures	-28.52	-27.19	-29.84	-14.93	-31.65	-20.97
Free Cash Flow	41.83	44.03	45.83	59.02	71.62	56.35
Free Cash Flow Growth	-8.37%	-3.93%	-22.34%	-17.60%	27.11%	-21.07%

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Gross Margin	52.75%	53.09%	51.87%	54.88%	139.76%	140.35%
Operating Margin	48.32%	48.44%	47.27%	50.61%	135.55%	135.37%
Pretax Margin	-25.09%	-24.85%	-16.51%	-30.17%	92.21%	118.88%
Profit Margin	-25.50%	-25.21%	-16.51%	-31.29%	10.35%	35.46%
FCF Margin	32.46%	33.84%	36.11%	44.64%	49.88%	40.68%

Dividends

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Aug '26 Aug 11, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Dividend Per Share	0.690	0.690	-	1.708	3.415	3.416
Dividend Per Share Growth	140.00%	-	-	-50.00%	-0.01%	0%
Dividend Yield	8.02%	5.98%	0.00%	19.77%	38.55%	1.25%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Aug '26 Aug 11, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
PE Ratio	-	-	-	-	9.57	80.03
P/FCF Ratio	2.89	2.83	3.24	2.67	43.79	67.09
PS Ratio	0.94	0.96	1.17	1.19	21.84	27.29