Boston Pizza Royalties Income Fund (BPF-UN) Fair Value & Analysis
Consumer Cyclical · CA · Market cap C$496M (≈ $358M) · ISIN CA1010841015
What is Boston Pizza Royalties Income Fund really worth?
A solid business, trading 24% below our fair value of C$27.58.
Strengths
Risks
For context
Fair value as of: Aug 23, 2026
From 23 valuation models · updated 13 days ago
Share price −6.1% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The rarer combination: high quality (73/100) AND below fair value. That earns a closer look rather than a quick verdict.
- A fairly wide model range (C$16.73 to C$40.87) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 23, 2026.
How to read this chart
60‑month range C$9.22 – C$25.30 · fair‑value band C$16.73 – C$40.87 · the C$21.08 price screens below the C$27.58 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 23, 2026.
Analysis
Boston Pizza Royalties Income Fund (BPF-UN) currently trades at C$21.08, while our model-based Fair Value estimate is C$27.58, implying the stock looks roughly 23.6% undervalued today. The Quality Score stands at 73/100 (solid quality), in the Consumer Cyclical sector. Bull case: the Growth Earnings group reads highest at a median of C$37.32 per share, and 11 of the 23 models we run sit above the C$21.08 price. Bear case: the Asset-Based group reads lowest at C$9.13, and 12 of the 23 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Boston Pizza Royalties Income Fund generated revenue of C$52.3M at a net margin of 91.8%. Revenue grew 3.2% year over year. It earns a return on equity of 14.8%. Net debt stands at C$138M. Fundamentals as of Aug 23, 2026
Our scenario range runs from C$16.73 (bear case) to C$40.87 (bull case); at C$21.08, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 17% below its 52-week high and 19% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −47% fair-value upside, at 31%, BPF-UN screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly C$0.5578 per share, which is 2.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 23 models by family
Widest divergence: Growth Earnings (C$37.32) versus Asset-Based (C$9.13). Highest evidence: FCF DCF (80).
Notify me when BPF-UN reaches fair value
Put BPF-UN on your watchlist. We get in touch as soon as price and fair value meet or the trend turns.
Set up alert →Free, no payment details. Unsubscribe anytime in one click.
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 23, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 68 · Market factors (momentum, volatility) 52
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Boston Pizza Royalties Income Fund operates as an open-ended limited purpose trust company in Canada. The company acquires trademarks and trade names owned by Boston Pizza International Inc. It also operates and franchises restaurants under the Boston Pizza brand name. The company was incorporated in 2002 and is headquartered in Richmond, Canada.
Full company description
Boston Pizza Royalties Income Fund operates as an open-ended limited purpose trust company in Canada. The company acquires trademarks and trade names owned by Boston Pizza International Inc. It also operates and franchises restaurants under the Boston Pizza brand name. The company was incorporated in 2002 and is headquartered in Richmond, Canada. Boston Pizza Royalties Income Fund operates as a subsidiary of James Treliving Holdings Ltd.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Boston Pizza Royalties Income Fund reported revenue of C$51.9M in FY2025 versus C$35.2M in FY2021, a compound +10.2%/yr. Reported net income was C$42.2M in FY2025, compounding +3.0%/yr from FY2021.
of which total revenue +3.0 % · buybacks/dilution −2.5 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
Watch BPF-UN: get an alert when its fair value changes →
Peer Group
Restaurants · 220 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Restaurants median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Restaurants stocks, each showing price versus our Fair Value estimate (as of Aug 23, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| McDonald's Corporation MCD | $260.06 | $149.03 | −43% |
| Starbucks Corporation SBUX | $107.26 | $35.83 | −67% |
| Chipotle Mexican Grill, Inc CMG | $38.03 | $17.92 | −53% |
| Yum! Brands, Inc YUM | $153.31 | $58.17 | −62% |
| Restaurant Brands International Inc QSR | C$104.50 | C$36.37 | −65% |
| Darden Restaurants, Inc DRI | $218.86 | $173.68 | −21% |
| Yum China Holdings YUMC | $47.18 | $54.27 | +15% |
| Texas Roadhouse, Inc TXRH | $198.99 | $104.89 | −47% |
| Dutch Bros Inc BROS | $51.02 | $12.80 | −75% |
| Domino's Pizza, Inc DPZ | $332.06 | $227.31 | −32% |
Compare Boston Pizza Royalties Income Fund with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Consumer Cyclical stocks →
Try a ready-made strategy
Pick a strategy and jump into the live analysis with that exact screen applied.
Discover tools
Frequently asked questions
Is Boston Pizza Royalties Income Fund (BPF-UN) overvalued or undervalued?
What is the fair value of BPF-UN?
What is the quality score of BPF-UN?
What is the revenue of Boston Pizza Royalties Income Fund (BPF-UN)?
What is the net profit margin of BPF-UN?
Does Boston Pizza Royalties Income Fund pay a dividend?
Watch Boston Pizza Royalties Income Fund in the live analysis
One click puts Boston Pizza Royalties Income Fund on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
Watch for free →Zero risk: nothing is ever charged. Your watchlist is yours, with or without an account.