Primaris REITPMREF 82 5-Year ROIIC % is 7.02 as of Dec. 2025. GuruFocus rates PMREF with a GF Score™ of 82/100 and a GF Value™ of $12.89 (Modestly Overvalued). The stock has 8 warning signs investors should review. Among 633 REITs companies, Primaris REIT ranks better than 68.09% on this metric.
5-Year Return on Invested Incremental Capital (5-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 5-year.
Primaris REIT's 5-Year ROIIC % for the quarter that ended in Dec. 2025 was 7.02%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Primaris REIT's 5-Year ROIIC % or its related term are showing as below:
PMREF's 5-Year ROIIC % is ranked better than 68.09% of 633
companies
in the REITs industry
Industry Median: 4.13
vs PMREF: 7.02
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
Primaris REIT 5-Year ROIIC % Related Terms
Primaris REIT 5-Year ROIIC % Historical Data
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The historical data trend for Primaris REIT's 5-Year ROIIC % 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.
For the REIT - Retail subindustry, Primaris REIT's 5-Year ROIIC %, along with its competitors' market caps and 5-Year ROIIC % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Primaris REIT 5-Year ROIIC % vs REITs Industry
For the REITs industry and Real Estate sector, Primaris REIT's 5-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Primaris REIT's 5-Year ROIIC % falls into.
Primaris REIT's 5-Year ROIIC % for the quarter that ended in Dec. 2025 is calculated as:
5-Year ROIIC %
=
5-Year Incremental Net Operating Profit After Taxes (NOPAT)**
/
5-Year Incremental Invested Capital**
=
( 240.548 (Dec. 2025) - 95.051 (Dec. 2020) )
/
( 3694.764 (Dec. 2025) - 1642.342 (Dec. 2020) )
=
145.497
/
2052.422
=
7.09%***
* 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.
** Annual data of NOPAT and Invested Capital was used to calculate 5-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
Primaris REIT (PMREF) has a 5-Year ROIIC % of 7.02 as of Dec. 2025. 5-Year ROIIC % measures the change in earnings as a percentage of change in investment over 5-year. View historical data on Primaris REIT and its competitors. According to the industry distribution chart, Primaris REIT ranks #202 out of 633 companies in the REITs industry, placing it in the top 31.9%.
Is Primaris REIT's 5-Year ROIIC % too high?
Primaris REIT's current 5-Year ROIIC % is 7.02. The REITs industry median 5-Year ROIIC % is 4.13. Primaris REIT's value of 7.02 is 70% above this industry median. Based on the distribution chart, Primaris REIT ranks #202 out of 633 companies in the REITs industry, which is above the industry midpoint. Overall, Primaris REIT has a GF Score™ of 82/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Primaris REIT's 5-Year ROIIC % compare to SPG and O?
According to the REITs industry distribution chart, Primaris REIT ranks #202 out of 633 companies for 5-Year ROIIC %. This puts Primaris REIT in the upper half of its industry. The industry median 5-Year ROIIC % is 4.13. Primaris REIT's value of 7.02 is 70% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good 5-Year ROIIC % for a REITs company?
The median 5-Year ROIIC % among REITs companies is 4.13, based on 633 companies in the industry. Companies in the top quartile (top 25%) have a 5-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 5-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Primaris REIT's current 5-Year ROIIC % of 7.02 is 70% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high 5-Year ROIIC % mean?
A high 5-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 5-Year ROIIC % measures the change in earnings as a percentage of change in investment over 5-year. View historical data on Primaris REIT and its competitors. For the REITs industry, the median 5-Year ROIIC % is 4.13 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Primaris REIT's current 5-Year ROIIC % is 7.02. 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 $12.89, compared to a current price of $14.75 — trading 14.4% above its estimated fair value. The current 5-Year ROIIC % is 7.02 and 70% above the REITs industry median of 4.13. Primaris REIT's overall GF Score™ is 82/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 5-Year ROIIC % calculated?
5-Year ROIIC % is calculated from a company's financial statements. For Primaris REIT (PMREF), the current 5-Year ROIIC % is 7.02 as of Dec. 2025. 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 $14.75 is trading 14.4% above its estimated GF Value™ of $12.89.
GuruFocus considers Primaris REIT to be Modestly Overvalued.
Key valuation signals for PMREF:
5-Year ROIIC %: 7.02
GF Value™: $12.89 vs. price of $14.75 (14.4% above fair value)
Industry Position: 70% above the REITs median (#202 of 633)
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 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.
82GF Score
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