Dream Unlimited Corp (DRM) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Dream Unlimited Corp C$13.44, price C$17.14, upside -21.6%, quality 44 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch Dream Unlimited Corp for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range C$14.76 – C$42.18 · fair‑value band C$9.06 – C$13.44 · the C$17.14 price screens above the C$13.44 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 23, 2026.
Follow Dream Unlimited in your weekly email
Every Wednesday you see whether Dream Unlimited is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Dream Unlimited Corp. formerly known as Dundee Realty Corporation is a real estate investment firm. The firm provides real estate asset management and advisory services including sourcing, acquiring, managing, and developing commercial and residential real estate primarily in Western Canada. It invests in the real estate markets across the globe.
Show more
Dream Unlimited Corp. formerly known as Dundee Realty Corporation is a real estate investment firm. The firm provides real estate asset management and advisory services including sourcing, acquiring, managing, and developing commercial and residential real estate primarily in Western Canada. It invests in the real estate markets across the globe. The firm also seeks to invest in renewable energy infrastructure and power projects with a focus on wind, hydro, and solar in North American. Dream Unlimited Corp. was founded in 1996 and is based in Toronto, Canada.
Stock analysis
Dream Unlimited Corp (DRM) currently trades at C$17.14, while our model-based Fair Value estimate is C$13.44, implying the stock looks roughly 27.5% overvalued today.
Show more
Valuation
Bull case: the Asset-Based group reads highest at a median of C$24.17 per share, and 2 of the 6 models we run sit above the C$17.14 price.
Bear case: the DCF Models group reads lowest at C$2.95, and 4 of the 6 models stay below the price. Evidence for this calculation is medium.
Scenario range: C$9.06 (bear) to C$13.44 (bull), the price of C$17.14 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 44/100 (below-average quality), in the Real Estate sector.
Mixed Growth: Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
Dream Unlimited Corp reported revenue of C$463M in FY2025 versus C$326M in FY2021, a compound +9.2%/yr. Reported net income was −C$18.6M in FY2025.
Key figures
Market cap C$809M (≈ $573M) · P/S ratio 1.75 · EPS (TTM) C$−0.3600 · Dividend yield 3.8% · Net margin −4.0% · Return on equity −1.1% · Return on assets (EBIT) 3.2% · Operating margin 8.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 41 out of 100 (low confidence).
What moves the price
The share trades about 22% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 54% fair-value upside, at −22%, DRM screens richer than that median.
Fair Value models
Bear C$9.06Fair Value C$13.44Bull C$13.44
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.55/100
Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+24.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+1.5%
Revenue growth 12 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+2.2%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
19.8% (2018) → 21.7% (2024)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+78.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Canada: IMF forecast 2.1% a year to 2030, 2.6% from 2016 to 2025) that is about +75.0% a year for the price.
Price, fair value, quality and upside side by side.
Free, no sign-up
Peer Groupⓘ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.Real Estate - Development · 578 stocks
Beats the industry median on 3/12 measures
Overall it trails its industry peers.
Valuation
Quality Score45 · Below median
Fair Value upside−22% · Below median
Profitability
Return on assets2% · Above median
Net margin (TTM)−3% · Below median
Operating margin (TTM)8% · Below median
Growth and dividend
Revenue growth−2% · Below median
Dividend yield (TTM)3.8% · Above median
Balance sheet
Debt / equity1.32× · Highest 25%
Valuation Multiplesvs Real Estate - Development median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Dream Unlimited Corp (DRM) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of C$13.44 versus a price of C$17.14, about −22% upside (overvalued).
What is the fair value of DRM?
Our model-based fair value for Dream Unlimited Corp is C$13.44 (as of Sep 23, 2026), built from audited fundamentals. The current price: C$17.14.
What is the quality score of DRM?
Dream Unlimited Corp has a Quality Score of 44/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Dream Unlimited Corp (DRM)?
Our model-based price target is the fair value of C$13.44 (as of Sep 23, 2026) from 10 valuation models. Cautious scenario C$9.06, optimistic scenario C$13.44. It is a calculation from audited fundamentals, not an analyst target.
What is the Dream Unlimited Corp stock forecast for 2026?
Our models put fair value at C$13.44, about −22% upside versus a price of C$17.14 (overvalued). Cautious scenario C$9.06, optimistic scenario C$13.44. The calculation is refreshed regularly with new filings.
What is the revenue of Dream Unlimited Corp (DRM)?
Dream Unlimited Corp reported trailing-twelve-month revenue of about C$462M (latest available figure, as of Sep 23, 2026).
Does Dream Unlimited Corp pay a dividend?
Dream Unlimited Corp currently shows a dividend yield of about 3.80% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Dream Unlimited Corp (DRM)?
For today's price to be fair in a discounted-cash-flow model, Dream Unlimited Corp would have to grow free cash flow by +78.7 % per year for five years (discount rate 12.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +5.9 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of DRM use?
Our models discount Dream Unlimited Corp at 12.9 %: a base by market capitalisation (small), damped by beta 1.68, country premium for Canada. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Dream Unlimited Corp that is +78.7 % per year a year over ten years, using the same discount rate (12.9 %) and the same formula as our fair value.
How much growth has Dream Unlimited Corp (DRM) delivered so far?
Over the past 5 years revenue at Dream Unlimited Corp grew +5.9 % a year. The price currently implies +78.7 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Dream Unlimited Corp (DRM) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Dream Unlimited Corp (+78.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Dream Unlimited Corp (DRM)?
The free-cash-flow yield on the price is 1.10 %: that much free cash flow Dream Unlimited Corp produces per unit of market value. When it exceeds the discount rate of our models (12.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Dream Unlimited Corp (DRM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Dream Unlimited Corp it is C$13.44 per share (as of Sep 23, 2026), against a price of C$17.14. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is Dream Unlimited Corp stock overvalued or undervalued in 2026?
As of Sep 23, 2026, DRM trades above its calculated fair value: price C$17.14, fair value C$13.44, a gap of about −22% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of DRM?
No. The price is what the market pays today (C$17.14); the fair value is what the company's own numbers justify (C$13.44). For Dream Unlimited Corp the two are C$3.70 per share apart. That gap is exactly why we show both numbers side by side.
How much is Dream Unlimited Corp worth?
The market values Dream Unlimited Corp at about C$809M (market capitalisation, as of Sep 23, 2026). Per share that is C$17.14; our models calculate a fair value of C$13.44 per share.
What do the bullish and bearish scenarios say about DRM?
Our models span a range for Dream Unlimited Corp: cautious scenario C$9.06, base C$13.44, optimistic C$13.44 per share (as of Sep 23, 2026, price C$17.14). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Dream Unlimited Corp (DRM)?
Balance-sheet figures for Dream Unlimited Corp (as of Sep 23, 2026): return on equity −1.1%, debt of 1.32 per unit of equity. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is DRM from its 52-week high?
Dream Unlimited Corp trades at C$17.14, about 22% below its 52-week high of C$22.08 and 3% above the low of C$16.60 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of C$13.44 is for.
Which stocks are comparable to Dream Unlimited Corp?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, China Resources Land Limited, Vinhomes Joint Stock Company, CK Asset Holdings, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Dream Unlimited Corp stock attractive at the current price?
The data as of Sep 23, 2026: price C$17.14, calculated fair value C$13.44 (−22%), Quality Score 44/100, from 10 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of DRM calculated?
We run Dream Unlimited Corp through 10 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of C$13.44, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Dream Unlimited Corp itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Dream Unlimited Corp (DRM)?
The closing price on Sep 23, 2026 was C$17.14. Our model-based fair value is C$13.44, about −22% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Dream Unlimited Corp right now?
The price sits above even our optimistic bull case (C$13.44). The favourable scenario is already priced in. Weak quality (44/100) and above fair value at the same time, the margin of safety is missing on both counts. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Dream Unlimited Corp
How large is the market capitalisation of Dream Unlimited Corp (DRM)?
The market capitalisation of Dream Unlimited Corp is C$809M (≈ $573M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Dream Unlimited Corp (DRM)?
The price-to-sales ratio of Dream Unlimited Corp is 1.75 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Dream Unlimited Corp (DRM)?
Earnings per share at Dream Unlimited Corp are C$−0.3600. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Dream Unlimited Corp (DRM)?
The dividend yield of Dream Unlimited Corp is 3.8%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Dream Unlimited Corp (DRM)?
The net margin of Dream Unlimited Corp is −4.0% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Dream Unlimited Corp (DRM)?
The return on equity (ROE) of Dream Unlimited Corp is −1.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Dream Unlimited Corp (DRM)?
On an EBIT basis the return on assets of Dream Unlimited Corp is 3.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Dream Unlimited Corp (DRM)?
The operating margin of Dream Unlimited Corp is 8.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Dream Unlimited Corp (DRM)?
Revenue at Dream Unlimited Corp is growing −1.5% versus a year earlier (3y avg +10.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Dream Unlimited Corp (DRM)?
Earnings per share at Dream Unlimited Corp are growing −77.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Dream Unlimited Corp (DRM) carry?
The net debt of Dream Unlimited Corp is C$1.9B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch Dream Unlimited Corp in the live analysis
One click puts Dream Unlimited Corp 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.
