European Residential Real Estate Investment Trust

ERE-UN.TO

REIT - Residential · Real Estate

Exchange

Toronto Stock Exchange

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Dec 31, 2025

How the score breaks down

Quality

Exceptional

Growth

Weak

Cash Flow

Weak

Stability

Mixed

Valuation

Data not available

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Winston Score History

The full picture

European Residential Real Estate Investment Trust (ERES) owns and rents out apartment buildings in the Netherlands. Its customers are everyday renters — people and families looking for a place to live in Dutch cities. ERES is a Canadian-listed REIT focused entirely on the Dutch residential rental market, which is known for having a large shortage of available housing.

ERES makes money by collecting monthly rent from tenants across its portfolio of multi-family residential properties. It operates exclusively in the Netherlands and is a relatively small trust with a market cap around $100 million. Its position in a supply-constrained housing market provides some stability, but the business faces real risks from rising interest rates, which increase borrowing costs and pressure property valuations. Regulatory changes in Dutch rent control laws are also a key risk, as the Netherlands has been tightening rules on how much landlords can charge, which could limit future rental income growth.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-77.4% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+69.0% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

12.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

5+ years

Quarterly Free Cash Flow

↓ Burn rate worsening

C$239M cash & investments at current burn rate

Revenue declining

European Residential Real Estate Investment Trust's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

74.4%

Premium pricing power — 74.4% gross margin

Profit after running costs

Operating Margin

57.5%

Excellent — 57.5% operating margin

Return on the money invested

ROCE

72.8%

Exceptional — 72.8% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth

Sales YoY

-58.8%

Shrinking sales (-58.8% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-310.1%

Burning cash (-310.1%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.96

Moderate — manageable debt (0.96)

Covers its interest

Interest Cover

1.08x

Dangerous — barely covers interest (1.1x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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