PMREF (Primaris REIT) Change In Working Capital: $12.3 Mil (TTM As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

PMREF Primaris REIT PMREF
81 GF Score
Price $16.50
GF Value $13.13
Valuation Modestly Overvalued
! 8 Warning Signs
View Full Analysis

What is Primaris REIT Change In Working Capital?

Primaris REIT PMREF 81 Change In Working Capital is $12.3 Mil as of Mar. 2026. GuruFocus rates PMREF with a GF Score™ of 81/100 and a GF Value™ of $13.13 (Modestly Overvalued). The stock has 8 warning signs investors should review.

Primaris REIT's change in working capital for the quarter that ended in Mar. 2026 was $-16.9 Mil.

Primaris REIT's change in working capital for the fiscal year that ended in Dec. 2025 was $18.2 Mil.

It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement. Not by calculating the number changes in each periods' working capital (Total Current Assets minus Total Current Liabilities).

Primaris REIT Change In Working Capital Related Terms

Primaris REIT Change In Working Capital Historical Data

* Premium members only.

The historical data trend for Primaris REIT's Change In Working Capital can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Primaris REIT Change In Working Capital Chart

Primaris REIT Annual Data
Trend Dec09 Dec10 Dec11 Dec12 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Change In Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only -137.90 -6.75 7.26 3.91 18.18

Primaris REIT Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Change In Working Capital Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -10.58 -1.66 11.63 19.17 -16.85
PMREF
81GF Score
Primaris REIT PMREF
Change In Working Capital is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Primaris REIT Change In Working Capital Calculation

Change In Working Capital for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $12.3 Mil.

Working Capital is a measure of a company's short term liquidity or its ability to cover short term liabilities. It is defined as the difference between a company's current assets and current liabilities.

Changes in Working Capital is reported in the cash flow statement since it is one of the major ways in which net income can differ from operating cash flow. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement.

Use Wal-Mart Stores Inc (Jan 2014, Annual Data) as an example: Source: Wal-Mart Stores Inc 2014-01-31 10-K from SEC

Consolidated Statements of Cash Flows Fiscal Years EndedJanuary 31,(Amounts in millions)
Cash flows from operating activities: 2014 2013 2012
Changes in certain assets and liabilities, net of effects of acquisitions:
Receivables, net (566) (614) (796)
Inventories (1,667) (2,759) (3,727)
Accounts payable 531 1,061 2,687
Accrued liabilities 103 271 (935)
Accrued income taxes (1,224) 981 994

For 2014-01-31, add all the items under 2014 collum together, Change in Working Capital was (566) + (1,667) + 531 + 103 + (1,224) = $ (2,823) Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

What does a Change In Working Capital of $12.3 Mil mean?
Primaris REIT (PMREF) has a Change In Working Capital of $12.3 Mil as of Mar. 2026. Change in Working Capital is the difference between current assets less current liabilities between the current period and the past period. View historical data for Primaris REIT.
Is Primaris REIT's Change In Working Capital too high?
Primaris REIT's current Change In Working Capital is $12.3 Mil. Overall, Primaris REIT has a GF Score™ of 81/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Primaris REIT's Change In Working Capital compare to SPG and O?
Primaris REIT's Change In Working Capital of $12.3 Mil can be compared against companies in the REITs industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Change In Working Capital for a REITs company?
A good Change In Working Capital depends on the REITs industry context. However, Change In Working Capital should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Change In Working Capital mean?
A high Change In Working Capital can signal that a stock is expensive relative to its fundamentals. Change in Working Capital is the difference between current assets less current liabilities between the current period and the past period. View historical data for Primaris REIT. Primaris REIT's current Change In Working Capital is $12.3 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Primaris REIT stock overvalued right now?
Based on GuruFocus' analysis, Primaris REIT (PMREF) is currently considered Modestly Overvalued. The stock's GF Value™ is $13.13, compared to a current price of $16.50 — trading 25.7% above its estimated fair value. The current Change In Working Capital is $12.3 Mil. Primaris REIT's overall GF Score™ is 81/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Change In Working Capital calculated?
Change In Working Capital is calculated from a company's financial statements. For Primaris REIT (PMREF), the current Change In Working Capital is $12.3 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Primaris REIT (PMREF) Overvalued in 2026?

Based on GuruFocus' analysis, Primaris REIT stock appears to be overvalued. The current stock price of $16.50 is trading 25.7% above its estimated GF Value™ of $13.13. GuruFocus considers Primaris REIT to be Modestly Overvalued.

Key valuation signals for PMREF:

  • Change In Working Capital: $12.3 Mil
  • GF Value™: $13.13 vs. price of $16.50 (25.7% above fair value)
  • GF Score™: 81/100 with 8 warning signs

No single metric tells the full story. See the PMREF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Primaris REIT Business Description

Industry Real EstateREITs
Other Exchanges H0D:GermanyPMZ.UN:Canada
Address 181 Bay Street, Suite 2720, Brookfield Place, Toronto, ON, CAN, M5J 2T3
Primaris REIT is an unincorporated, open-ended real estate investment trust. Through its subsidiaries, it owns, develops, and operates a national retail portfolio focused on enclosed shopping centres located in secondary Canadian markets. Its property portfolio includes: Dufferin Mall, Cataraqui Centre, Stone Road Mall, Orchard Park, Kildonan Place, Halifax Shopping Centre, Marlborough Mall, and Devonshire Mall. The company generates a majority of its revenue from the Rent receivables.
81GF Score

Get the complete analysis for PMREF

Change In Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$16.50
Price
$13.13
GF Value