Balance Sheet Inovalis Real Estate Investment Trust

Stocks

INO.UN

CA45780E1007

Commercial REITs

Market Closed - Toronto S.E. Other stock markets 08:52:38 09/07/2026 pm IST			5-day change	1st Jan Change
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13/05	Earnings Flash (INO-UN.TO) Inovalis REIT Reports Q1 Net Rental Income $4.149M Vs $5M a Year Earlier	MT
13/05	Inovalis Real Estate Investment Trust Reports Earnings Results for the First Quarter Ended March 31, 2026	CI

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Published financial data: INOVALIS REAL ESTATE INVESTMENT TRUST

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Rental Revenues	2.82Cr	2.54Cr	2.47Cr	1.86Cr	1.73Cr
Other Revenues, Total	42.02L	21.81L	-50.74L	-4L	1L
Total Revenues	3.24Cr	2.76Cr	1.96Cr	1.82Cr	1.74Cr
Property Expenses	1.03Cr	95.1L	1.04Cr	1.03Cr	1.19Cr
Selling General & Admin Expenses, Total	68.59L	69.74L	64.05L	59.9L	54.42L
Other Operating Expenses	33.48L	4L	-	-	-
Total Operating Expenses	2.05Cr	1.68Cr	1.68Cr	1.63Cr	1.73Cr
Operating Income (REIT / Utility Template)	1.19Cr	1.07Cr	28.27L	18.75L	1L
Interest Expense, Total	-75.85L	-61.66L	-73.69L	-94.05L	-79.89L
Interest and Investment Income	33.54L	27.46L	27.21L	28.27L	30.38L
Net Interest Expenses	-42.31L	-34.2L	-46.48L	-65.78L	-49.51L
Currency Exchange Gains (Loss)	-11.29L	2L	21T	-	-49T
Other Non Operating Income (Expenses)	14.18L	65.61L	-23.06L	-5L	-38.45L
EBT, Excl. Unusual Items	79.8L	1.41Cr	-41.06L	-51.99L	-87.32L
Total Merger & Related Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) on Sale of Investments	-10L	54.79L	19.41L	7L	-31T
Gain (Loss) on Sale of Assets	-39.88L	-9L	-	-	-7L
Asset Writedown	2.94Cr	-5.84Cr	-2.81Cr	-6.68Cr	-4.06Cr
Other Unusual Items	-15.33L	-	-	-	-
EBT, Incl. Unusual Items	3.09Cr	-3.98Cr	-3.03Cr	-7.12Cr	-5Cr
Income Tax Expense	6L	-27.8L	-3L	-12.07L	71.66L
Earnings From Continuing Operations	3.03Cr	-3.7Cr	-3Cr	-7Cr	-5.72Cr
Net Income to Company	3.03Cr	-3.7Cr	-3Cr	-7Cr	-5.72Cr
Minority Interest	34T	1L	3L	9L	12.27L
Net Income - (IS)	3.03Cr	-3.69Cr	-2.97Cr	-6.91Cr	-5.6Cr
Net Income to Common Incl Extra Items	3.03Cr	-3.69Cr	-2.97Cr	-6.91Cr	-5.6Cr
Net Income to Common Excl. Extra Items	3.03Cr	-3.69Cr	-2.97Cr	-6.91Cr	-5.6Cr
Per Share Items
Net EPS - Basic	0.94	-1.13	-0.91	-2.12	-1.68
Basic EPS - Continuing Operations	0.94	-1.13	-0.91	-2.12	-1.68
Basic Weighted Average Shares Outstanding	3.24Cr	3.27Cr	3.27Cr	-	3.33Cr
Net EPS - Diluted	0.94	-1.13	-0.91	-2.12	-1.68
Diluted EPS - Continuing Operations	0.94	-1.13	-0.91	-2.12	-1.68
Diluted Weighted Average Shares Outstanding	3.24Cr	3.27Cr	3.27Cr	-	3.33Cr
Normalized Basic EPS	0.15	0.27	-0.07	-0.07	-0.13
Normalized Diluted EPS	0.15	0.27	-0.07	-0.07	-0.13
Dividend Per Share	0.82	0.69	0.38	-	-
Payout Ratio	120.96	-60.7	-45.45	-	-
Supplemental Items
EBITA	1.19Cr	1.07Cr	28.27L	18.75L	1L
EBIT	1.19Cr	1.07Cr	28.27L	18.75L	1L
Effective Tax Rate - (Ratio)	1.91	6.99	1.08	1.69	-14.32
Total Current Taxes	80.88L	2L	2L	1L	71.66L
Total Deferred Taxes	-74.98L	-29.71L	-6L	-13.13L	-
Normalized Net Income	50.22L	89.37L	-23.03L	-23.51L	-42.3L
Interest on Long-Term Debt	50.66L	50.89L	87.24L	98.41L	79.89L
Supplemental Operating Expense Items
General and Administrative Expenses	68.59L	69.74L	64.05L	59.9L	54.42L
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Stock-Based Comp., Other (Total)	-	-31T	-4T	94T	-
Total Stock-Based Compensation	-	-31T	-4T	94T	-

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Net Property Plant And Equipment	43Cr	44Cr	41Cr	33Cr	28Cr
Total Real Estate Assets	43Cr	44Cr	41Cr	33Cr	28Cr
Cash And Equivalents	7.66Cr	4.52Cr	1.25Cr	62.49L	2.51Cr
Accounts Receivable, Total	15.09L	23.94L	25.91L	26.92L	15.87L
Other Receivables	1.1Cr	88.29L	82.29L	85.65L	81.57L
Investment In Debt and Equity Securities	-	6L	3L	4L	5L
Notes Receivable (Collected)	-	-	-	-	-
Restricted Cash	52T	28.82L	2L	16.51L	4L
Other Current Assets, Total	11.05L	8L	5L	2.62Cr	1.6Cr
Trading Asset Securities, Total	-	23.15L	1L	-	-
Other Long-Term Assets, Total	6.93Cr	6.06Cr	4.66Cr	3.87Cr	3.59Cr
Total Assets	59Cr	56Cr	48Cr	41Cr	36Cr
Liabilities
Current Portion of Long-Term Debt	2.95Cr	4.16Cr	5.21Cr	6.1Cr	4.31Cr
Current Portion of Leases	77L	64.24L	68.19L	50.35L	1.3Cr
Short-Term Borrowings	-	-	-	-	-
Long-Term Debt	7.38Cr	9.65Cr	6.59Cr	5.42Cr	5.82Cr
Long-Term Leases	11Cr	10Cr	9.62Cr	9.58Cr	9.07Cr
Accounts Payable, Total	68.06L	70.32L	44.52L	63.21L	40.28L
Accrued Expenses, Total	10.49L	93.21L	24.3L	12.55L	12.89L
Current Income Taxes Payable	21.67L	20.39L	21.75L	22.38L	95.5L
Unearned Revenue, Current	40.04L	8L	11.84L	6L	2L
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	36.7L	29.1L	17.84L	15.9L	34.96L
Unearned Revenue Non Current	-	-	-	-	-
Deferred Tax Liability Non-Current	49.41L	18.39L	12.95L	-	-
Other Non Current Liabilities	11.72L	23.67L	23.34L	22.28L	21.76L
Total Liabilities	24Cr	27Cr	24Cr	23Cr	23Cr
Common Stock, Total	29Cr	29Cr	29Cr	30Cr	30Cr
Retained Earnings	4.7Cr	-1.23Cr	-5.32Cr	-13Cr	-19Cr
Comprehensive Income and Other	90.55L	93.66L	1.15Cr	1.57Cr	2.99Cr
Total Common Equity	34Cr	29Cr	25Cr	18Cr	14Cr
Minority Interest	12.99L	11.98L	9L	67T	-11.58L
Total Equity	35Cr	29Cr	25Cr	18Cr	14Cr
Total Liabilities And Equity	59Cr	56Cr	48Cr	41Cr	36Cr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	3.26Cr	3.28Cr	3.26Cr	3.32Cr	3.33Cr
ECS Total Common Shares Outstanding	3.26Cr	3.28Cr	3.26Cr	3.32Cr	3.33Cr
Book Value / Share	10.58	8.76	7.56	5.48	4.17
Tangible Book Value	34Cr	29Cr	25Cr	18Cr	14Cr
Tangible Book Value Per Share	10.58	8.76	7.56	5.48	4.17
Total Debt	22Cr	25Cr	22Cr	22Cr	20Cr
Net Debt	14Cr	20Cr	21Cr	21Cr	18Cr
Debt Equivalent Oper. Leases	-	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	12.99L	11.98L	9L	67T	-11.58L
Equity Method Investments, Total	6.43Cr	5.57Cr	4.16Cr	3.7Cr	3.52Cr
Account Code - Inventory Valuation	3	3	3	3	3
Full Time Employees	300	300	300	300	-
Accumulated Allowance for Doubtful Accounts (Supple)	6L	7L	9L	9L	26.18L

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	3.03Cr	-3.69Cr	-2.97Cr	-6.91Cr	-5.6Cr
Amortization of Deferred Charges, Total	84T	3L	-	-	-
(Gain) Loss On Sale of Asset - (CF)	-	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	8L	-54.79L	-19.41L	-7L	31T
Total Asset Writedown	-2.94Cr	5.84Cr	2.81Cr	6.68Cr	4.06Cr
(Income) Loss On Equity Investments - (CF)	-7L	30L	1.08Cr	31.81L	15L
Net (Increase) Decrease in Loans Originated / Sold - Operating	27.38L	6L	32.23L	27.29L	34.98L
Change in Accounts Receivable	-17.17L	15.77L	16.43L	22.13L	-1L
Change in Accounts Payable	24.57L	55L	-1.02Cr	42T	-4L
Change in Other Net Operating Assets (Collected)	-10.24L	10.93L	-88T	2T	-6L
Other Operating Activities	-1.15Cr	-66.81L	21.42L	-41.6L	66.11L
Cash from Operations	-79.15L	2.14Cr	39.71L	9L	-48.28L
Acquisition of Real Estate Assets, Total	-10L	-10Cr	-6L	-7L	-14.1L
Sale of Real Estate Assets, Total	10Cr	3.94Cr	-	-	5Cr
Net Sale / Acquisition of Real Estate Assets	10Cr	-6.24Cr	-6L	-7L	4.85Cr
Cash Acquisitions	-	-	-	-	-
Divestitures	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	17.39L	-3L	-	-	-
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-	-
Other Investing Activities, Total	26.6L	22.42L	27.07L	14.3L	24.16L
Cash from Investing	11Cr	-6.05Cr	21.46L	7L	5.1Cr
Long-Term Debt Issued, Total	-	5.13Cr	-	58T	93.82L
Total Debt Issued	-	5.13Cr	-	58T	93.82L
Long-Term Debt Repaid, Total	-6.08Cr	-1.92Cr	-2.56Cr	-79.76L	-3.75Cr
Total Debt Repaid	-6.08Cr	-1.92Cr	-2.56Cr	-79.76L	-3.75Cr
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-	-	-	-	-
Common Dividends Paid	-3.67Cr	-2.24Cr	-1.35Cr	-	-
Common & Preferred Stock Dividends Paid	-3.67Cr	-2.24Cr	-1.35Cr	-	-
Other Financing Activities, Total	-	-	-	-	1T
Cash from Financing	-9.75Cr	97.04L	-3.91Cr	-79.18L	-2.81Cr
Foreign Exchange Rate Adjustments	-49.07L	-21.11L	3L	65T	8L
Net Change in Cash	-37.49L	-3.15Cr	-3.27Cr	-62.39L	1.88Cr
Supplemental Items
Cash Interest Paid	74.92L	57.66L	70.12L	70.57L	83.69L
Cash Income Tax Paid (Refund)	98.98L	1L	48T	1L	76T
Net Debt Issued / Repaid	-6.08Cr	3.21Cr	-2.56Cr	-79.18L	-2.81Cr
Levered Free Cash Flow	-11.67L	62.7L	-95.27L	-3.22Cr	1.47Cr
Unlevered Free Cash Flow	34.89L	98.31L	-49.21L	-2.63Cr	1.97Cr
Change In Net Working Capital	39.62L	-31.67L	66.84L	2.76Cr	-1.96Cr

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	1.15	1.17	0.34	0.26	0.02
Return on Total Capital	1.2	1.22	0.35	0.27	0.02
Return On Equity %	8.38	-11.66	-11.19	-32.61	-35.78
Return on Common Equity	8.43	-11.67	-11.13	-32.27	-34.89
Margin Analysis
Gross Profit Margin %	68.31	65.49	47.15	43.22	31.84
SG&A Margin	21.17	25.31	32.71	32.91	31.2
EBITA Margin %	36.8	38.87	14.44	10.3	0.65
EBIT Margin %	36.8	38.87	14.44	10.3	0.65
Income From Continuing Operations Margin %	93.53	-134.18	-152.97	-384.81	-327.89
Net Income Margin %	93.63	-133.73	-151.62	-379.87	-320.86
Net Avail. For Common Margin %	93.63	-133.73	-151.62	-379.87	-320.86
Normalized Net Income Margin	15.5	32.43	-11.76	-12.92	-24.25
Levered Free Cash Flow Margin	-3.6	22.75	-48.65	-177.03	84.39
Unlevered Free Cash Flow Margin	10.77	35.67	-25.13	-144.73	113.02
Asset Turnover
Asset Turnover	0.05	0.05	0.04	0.04	0.04
Fixed Assets Turnover	0.07	0.06	0.05	0.05	0.06
Receivables Turnover (Average Receivables)	11.22	13	9.89	7.06	8.09
Short Term Liquidity
Current Ratio	1.65	0.89	0.34	0.58	0.68
Quick Ratio	1.62	0.84	0.33	0.22	0.47
Operating Cash Flow to Current Liabilities	-0.14	0.31	0.06	0.01	-0.06
Days Sales Outstanding (Average Receivables)	32.53	28.07	36.9	51.87	45.13
Average Days Payable Outstanding	198.59	265.56	202.5	190.77	158.85
Long Term Solvency
Total Debt/Equity	62.8	85.58	89.36	118.55	148.89
Total Debt / Total Capital	38.58	46.12	47.19	54.24	59.82
LT Debt/Equity	52.05	68.92	65.52	82.32	108.16
Long-Term Debt / Total Capital	31.97	37.14	34.6	37.66	43.46
Total Liabilities / Total Assets	41.07	48.64	48.9	55.82	62.12
EBIT / Interest Expense	1.57	1.74	0.38	0.2	0.01
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	10.78	-14.93	-28.94	-7.06	-4.14
Gross Profit, 1 Yr. Growth %	10.23	-18.44	-48.85	-14.81	-29.37
EBITA, 1 Yr. Growth %	-2.37	-10.15	-73.61	-33.68	-93.97
EBIT, 1 Yr. Growth %	-2.37	-10.15	-73.61	-33.68	-93.97
Earnings From Cont. Operations, 1 Yr. Growth %	66.36	-222.04	-18.99	133.8	-18.32
Net Income, 1 Yr. Growth %	66.7	-221.5	-19.44	132.84	-19.03
Diluted EPS Before Extra, 1 Yr. Growth %	49.98	-220.59	-19.47	133.15	-19.27
Normalized Net Income, 1 Yr. Growth %	-30.94	77.98	-125.77	2.09	79.92
Net Property, Plant and Equip., 1 Yr. Growth %	-20.99	2.29	-5.59	-20.63	-15.83
Accounts Receivable, 1 Yr. Growth %	-57.09	58.65	8.23	3.9	-41.05
Total Assets, 1 Yr. Growth %	-17.53	-4.45	-13.73	-14.84	-11.85
Common Equity, 1 Yr. Growth %	-8.12	-16.77	-14.13	-26.13	-23.75
Tangible Book Value, 1 Yr. Growth %	-8.12	-16.77	-14.13	-26.13	-23.75
Cash From Operations, 1 Yr. Growth %	197	-370.71	-81.47	-77.01	-628.81
Levered Free Cash Flow, 1 Yr. Growth %	-110.51	-703.27	-259.38	238.19	-145.56
Unlevered Free Cash Flow, 1 Yr. Growth %	-80.08	171.78	-150.06	435.25	-174.58
Dividend Per Share, 1 Yr. Growth %	0	-16.67	-45	-	-
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-15.82	-2.92	-22.25	-18.74	-5.61
Gross Profit, 2 Yr. CAGR %	-20.22	-5.19	-35.41	-33.99	-22.43
EBITA, 2 Yr. CAGR %	-35.01	-6.34	-51.3	-58.16	-80.01
EBIT, 2 Yr. CAGR %	-35.01	-6.34	-51.3	-58.16	-80.01
Earnings From Cont. Operations, 2 Yr. CAGR %	-8.93	42.49	-0.57	37.62	38.19
Net Income, 2 Yr. CAGR %	-8.77	42.32	-1.06	36.96	37.3
Diluted EPS Before Extra, 2 Yr. CAGR %	-14.12	34.49	-1.46	37.02	36.03
Normalized Net Income, 2 Yr. CAGR %	-45.3	10.87	-32.27	-48.71	35.53
Net Property, Plant and Equip., 2 Yr. CAGR %	-5.48	-10.1	-1.73	-13.43	-18.26
Accounts Receivable, 2 Yr. CAGR %	-6.74	-17.5	31.04	6.04	-21.74
Total Assets, 2 Yr. CAGR %	-9.07	-11.23	-9.21	-14.29	-13.36
Common Equity, 2 Yr. CAGR %	1.92	-12.55	-15.46	-20.36	-24.95
Tangible Book Value, 2 Yr. CAGR %	1.92	-12.55	-15.46	-20.36	-24.95
Cash From Operations, 2 Yr. CAGR %	-41.96	183.55	-29.17	-79.36	10.26
Levered Free Cash Flow, 2 Yr. CAGR %	-79.27	-24.88	202.75	132.17	24.31
Unlevered Free Cash Flow, 2 Yr. CAGR %	-67.79	-25.08	16.64	63.69	100.16
Dividend Per Share, 2 Yr. CAGR %	0	-8.71	-32.3	-	-
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-6.27	-15.53	-12.51	-17.49	-14.14
Gross Profit, 3 Yr. CAGR %	-9.01	-19.63	-22.81	-29.17	-32.48
EBITA, 3 Yr. CAGR %	-20.97	-27.6	-38.6	-46.02	-78.07
EBIT, 3 Yr. CAGR %	-20.97	-27.6	-38.6	-46.02	-78.07
Earnings From Cont. Operations, 3 Yr. CAGR %	24.75	0.41	18.04	32.22	15.65
Net Income, 3 Yr. CAGR %	25.19	0.37	17.73	31.6	14.95
Diluted EPS Before Extra, 3 Yr. CAGR %	11.46	-3.83	13.35	31.31	14.22
Normalized Net Income, 3 Yr. CAGR %	-31.41	-18.95	-31.83	-22.35	-22.07
Net Property, Plant and Equip., 3 Yr. CAGR %	0.45	-2.96	-8.62	-8.48	-14.24
Accounts Receivable, 3 Yr. CAGR %	-5.93	11.33	-9.68	21.28	-12.81
Total Assets, 3 Yr. CAGR %	-1.7	-7.55	-12.07	-11.13	-13.48
Common Equity, 3 Yr. CAGR %	6.59	-4.74	-13.08	-19.18	-21.5
Tangible Book Value, 3 Yr. CAGR %	6.59	-4.74	-13.08	-19.18	-21.5
Cash From Operations, 3 Yr. CAGR %	-25.78	-3.02	14.22	-51.32	-39.15
Levered Free Cash Flow, 3 Yr. CAGR %	-53.76	-38.65	-5	214.13	35.05
Unlevered Free Cash Flow, 3 Yr. CAGR %	-18.05	-33.63	-34.5	93.83	26.11
Dividend Per Share, 3 Yr. CAGR %	0	-5.9	-22.9	-	-
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	0.21	-4.73	-13.02	-16.83	-9.82
Gross Profit, 5 Yr. CAGR %	-0.88	-7.28	-20.67	-25.72	-22.66
EBITA, 5 Yr. CAGR %	-8.06	-12.64	-34.89	-41.86	-60.8
EBIT, 5 Yr. CAGR %	-8.06	-12.64	-34.89	-41.86	-60.8
Earnings From Cont. Operations, 5 Yr. CAGR %	5.3	13.81	13.93	13.9	25.72
Net Income, 5 Yr. CAGR %	5.43	13.97	13.94	13.66	25.2
Diluted EPS Before Extra, 5 Yr. CAGR %	-4.98	4.95	6.1	10.8	21.93
Normalized Net Income, 5 Yr. CAGR %	-9.58	-6.2	-31.76	-32.5	-10.27
Net Property, Plant and Equip., 5 Yr. CAGR %	0.74	-0.15	-0.43	-7.29	-12.61
Accounts Receivable, 5 Yr. CAGR %	-10.79	-0.81	7.4	9.18	-14.71
Total Assets, 5 Yr. CAGR %	2.86	-0.55	-4.78	-10.31	-12.59
Common Equity, 5 Yr. CAGR %	7.42	1.61	-2.85	-11.32	-18.04
Tangible Book Value, 5 Yr. CAGR %	7.42	1.61	-2.85	-11.32	-18.04
Cash From Operations, 5 Yr. CAGR %	-14.93	-4.94	-27.16	-47.77	12.62
Levered Free Cash Flow, 5 Yr. CAGR %	-35.6	-3.64	-4.2	3.47	5.79
Unlevered Free Cash Flow, 5 Yr. CAGR %	-25.42	-3.77	-4.94	-4.76	2.39
Dividend Per Share, 5 Yr. CAGR %	0	-3.58	-14.45	-	-