Granite Real Estate Investment Trust
TSX:GRT.UN

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Granite Real Estate Investment Trust Logo
Granite Real Estate Investment Trust
TSX:GRT.UN
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Price: 70.46 CAD -1.33% Market Closed
Market Cap: 4.4B CAD
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Income Statement

Earnings Waterfall
Granite Real Estate Investment Trust

Revenue
550.9m CAD
Cost of Revenue
-90m CAD
Gross Profit
460.9m CAD
Operating Expenses
-39.6m CAD
Operating Income
421.3m CAD
Other Expenses
-113.1m CAD
Net Income
308.2m CAD

Income Statement
Granite Real Estate Investment Trust

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Income Statement
Currency: CAD
Sep-2014 Dec-2014 Mar-2015 Jun-2015 Sep-2015 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Dec-2016 Mar-2017 Jun-2017 Sep-2017 Dec-2017 Mar-2018 Jun-2018 Sep-2018 Dec-2018 Mar-2019 Jun-2019 Sep-2019 Dec-2019 Mar-2020 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Sep-2021 Dec-2021 Mar-2022 Jun-2022 Sep-2022 Dec-2022 Mar-2023 Jun-2023 Sep-2023 Dec-2023 Mar-2024 Jun-2024 Sep-2024
Revenue
Revenue
208
N/A
207
0%
208
+0%
209
+1%
212
+2%
216
+2%
220
+2%
223
+1%
224
+1%
223
0%
228
+2%
232
+2%
236
+2%
245
+4%
246
+0%
247
+1%
250
+1%
248
-1%
249
+1%
255
+2%
260
+2%
274
+5%
288
+5%
301
+5%
321
+6%
340
+6%
358
+5%
371
+4%
381
+3%
394
+3%
406
+3%
422
+4%
435
+3%
456
+5%
477
+5%
497
+4%
517
+4%
521
+1%
531
+2%
541
+2%
551
+2%
Gross Profit
Cost of Revenue
(7)
(7)
(7)
(6)
(7)
(7)
(7)
(7)
(8)
(8)
(13)
(20)
(25)
(31)
(31)
(31)
(32)
(31)
(31)
(33)
(33)
(35)
(37)
(38)
(41)
(47)
(51)
(55)
(58)
(61)
(64)
(67)
(71)
(75)
(80)
(85)
(90)
(86)
(88)
(90)
(90)
Gross Profit
201
N/A
201
0%
201
+0%
203
+1%
206
+2%
209
+2%
212
+1%
215
+1%
216
+1%
216
0%
214
-1%
212
-1%
211
-1%
213
+1%
214
+0%
216
+1%
219
+1%
217
-1%
218
+1%
222
+2%
227
+2%
238
+5%
251
+5%
263
+5%
280
+6%
293
+5%
307
+5%
316
+3%
324
+3%
333
+3%
342
+3%
355
+4%
364
+3%
380
+4%
397
+4%
412
+4%
428
+4%
435
+2%
442
+2%
451
+2%
461
+2%
Operating Income
Operating Expenses
(28)
(29)
(28)
(29)
(30)
(29)
(29)
(29)
(28)
(29)
(28)
(34)
(34)
(32)
(34)
(27)
(29)
(30)
(30)
(32)
(31)
(32)
(30)
(30)
(33)
(33)
(37)
(36)
(35)
(40)
(39)
(37)
(35)
(31)
(37)
(40)
(42)
(43)
(37)
(35)
(40)
Selling, General & Administrative
(28)
(28)
(27)
(28)
(29)
(28)
(29)
(29)
(28)
(28)
(27)
(28)
(27)
(26)
(28)
(27)
(29)
(29)
(30)
(31)
(31)
(31)
(29)
(30)
(32)
(32)
(35)
(35)
(34)
(38)
(38)
(36)
(33)
(30)
(36)
(39)
(41)
(41)
(36)
(34)
(38)
Depreciation & Amortization
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(0)
(0)
(0)
(0)
(0)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(2)
(1)
(2)
(2)
(2)
(2)
(2)
(1)
(1)
(1)
(1)
(1)
(1)
Other Operating Expenses
0
0
0
0
0
0
0
0
0
0
0
(6)
(6)
(6)
(6)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Operating Income
172
N/A
172
0%
172
+0%
174
+1%
176
+1%
180
+3%
183
+1%
186
+2%
188
+1%
187
-1%
187
0%
178
-5%
178
0%
181
+2%
181
0%
189
+5%
189
+0%
187
-1%
188
+0%
191
+1%
196
+3%
206
+5%
221
+7%
233
+5%
246
+6%
260
+6%
270
+4%
280
+4%
289
+3%
293
+1%
303
+3%
318
+5%
330
+4%
349
+6%
359
+3%
372
+4%
386
+4%
393
+2%
405
+3%
415
+3%
421
+1%
Pre-Tax Income
Interest Income Expense
(89)
(71)
(20)
9
27
52
35
37
156
153
136
128
14
191
240
351
470
337
345
285
226
222
209
170
149
239
408
684
1 053
1 262
1 546
988
326
(257)
(832)
(604)
(439)
(264)
(182)
(175)
(83)
Non-Reccuring Items
(8)
(0)
0
0
0
0
0
0
0
0
0
0
(0)
(1)
(1)
(3)
(8)
(8)
(8)
(6)
(0)
0
0
0
0
0
(4)
(4)
(4)
(4)
0
0
0
0
0
0
0
0
(0)
(1)
(2)
Gain/Loss on Disposition of Assets
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Total Other Income
(29)
(29)
(28)
(28)
0
0
0
0
0
(12)
(12)
(12)
(12)
0
0
2
2
2
2
0
0
(3)
(3)
(3)
(3)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Pre-Tax Income
48
N/A
72
+52%
124
+72%
154
+24%
203
+31%
232
+14%
218
-6%
223
+3%
344
+54%
328
-4%
311
-5%
295
-5%
179
-39%
371
+107%
420
+13%
540
+29%
654
+21%
518
-21%
527
+2%
469
-11%
422
-10%
425
+1%
427
+0%
400
-6%
393
-2%
499
+27%
674
+35%
960
+42%
1 338
+39%
1 551
+16%
1 849
+19%
1 306
-29%
655
-50%
92
-86%
(472)
N/A
(232)
+51%
(53)
+77%
129
N/A
222
+72%
239
+7%
336
+41%
Net Income
Tax Provision
(9)
(9)
(18)
(26)
(31)
(36)
(34)
(30)
(47)
(48)
(43)
(42)
(26)
(13)
(20)
(33)
(41)
(53)
(55)
(48)
(44)
(43)
(41)
(37)
(40)
(69)
(95)
(140)
(201)
(241)
(271)
(167)
(32)
64
142
85
34
9
(7)
(7)
(27)
Income from Continuing Operations
38
64
106
128
172
196
184
193
297
281
268
253
154
358
400
506
613
465
471
421
378
382
385
362
353
430
579
820
1 137
1 310
1 578
1 138
623
156
(330)
(147)
(20)
138
216
231
309
Income to Minority Interest
(1)
(0)
(1)
(3)
(2)
(2)
(3)
(1)
(2)
(1)
(0)
0
(0)
0
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(2)
(0)
(1)
(2)
0
(2)
(1)
Net Income (Common)
46
N/A
70
+52%
110
+57%
126
+14%
170
+35%
193
+14%
181
-6%
193
+6%
295
+53%
279
-5%
267
-4%
253
-5%
154
-39%
358
+133%
400
+12%
506
+27%
613
+21%
465
-24%
471
+1%
421
-11%
377
-10%
382
+1%
385
+1%
362
-6%
353
-3%
430
+22%
579
+35%
820
+42%
1 137
+39%
1 310
+15%
1 578
+20%
1 138
-28%
623
-45%
156
-75%
(332)
N/A
(147)
+56%
(21)
+86%
137
N/A
216
+58%
230
+6%
308
+34%
EPS (Diluted)
0.99
N/A
1.51
+53%
2.38
+58%
2.71
+14%
3.72
+37%
4.11
+10%
3.85
-6%
4.17
+8%
6.37
+53%
5.93
-7%
5.67
-4%
5.35
-6%
3.26
-39%
7.59
+133%
8.63
+14%
11.05
+28%
13.38
+21%
10.13
-24%
9.87
-3%
8.71
-12%
7.62
-13%
7.8
+2%
7.11
-9%
6.59
-7%
6.09
-8%
7.22
+19%
9.37
+30%
12.02
+28%
17.27
+44%
20.47
+19%
23.97
+17%
17.29
-28%
9.54
-45%
2.39
-75%
-5.19
N/A
-2.3
+56%
-0.32
+86%
2.14
N/A
3.39
+58%
3.62
+7%
4.89
+35%

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