SIR Royalty Income Fund (SRV-UN) fair value: what the stock is really worth
As of Oct 19, 2026: fair value (intrinsic value) of SIR Royalty Income Fund stock C$18.62, price C$13.91, upside +33.9%, quality 71 out of 100. Rating: undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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 Oct 3, 2026.
How to read this chart
60‑month range C$5.19 – C$16.75 · fair‑value band C$11.83 – C$32.01 · the C$13.91 price screens below the C$18.62 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.
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SIR Royalty Income Fund, through SIR Royalty Limited Partnership, creates, owns, and operates service inspired restaurants in Canada.
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The company operates concept restaurant brands under Jack Astor's and Scaddabush brands; and signature restaurants under the Reds Square One, Edna +Vita, The Antler Room, Duke's Refresher, and Loose Moose Tap & Grill brands.
It also owns and operates seasonal restaurant and retail outlet under the Abbey's Bakehouse brand in Muskoka, Ontario. The company was founded in 2004 and is based in Burlington, Canada.
Stock analysis
SIR Royalty Income Fund (SRV-UN) currently trades at C$13.91, while our model-based Fair Value estimate is C$18.62, implying the stock looks roughly 25.3% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of C$46.09 per share, and 10 of the 19 models we run sit above the C$13.91 price.
Bear case: the Multiples group reads lowest at C$2.19, and 9 of the 19 models stay below the price. Data coverage for this calculation is high.
Scenario range: C$11.83 (bear) to C$32.01 (bull), the price of C$13.91 sits inside 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 71/100 (solid quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
SIR Royalty Income Fund reported revenue of C$12.6M in FY2025 versus C$7.1M in FY2021, a compound +15.3%/yr. Reported net income was C$8.5M in FY2025, compounding +14.6%/yr from FY2021.
Key figures
Market cap C$118M (≈ $83.9M) Micro · P/E ratio 14.3 · P/S ratio 10.4 · EPS (TTM) C$0.9700 · Dividend yield 8.7% · Net margin 71.4% · Return on equity 9.4% · Return on assets (EBIT) 18.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 72 out of 100 (low confidence).
What moves the price
The share trades about 17% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −20% fair-value upside, at 34%, SRV-UN screens cheaper than that median.
Fair Value models
BearC$11.83Fair Value C$18.62BullC$32.01
Price C$13.91 · Upside +33.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.86/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+12.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+3.9%
Dividend (yield on the price)8.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.3.9% vs 1.7%, steady
Profit margin 2019 to 2025 ⓘ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.61% → 8%
Pace: the 5-year rate starts in 2020 (pandemic)
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).
+7.0%
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 +4.8% a year for the price.
Compare SIR Royalty Income Fund with another stock
Price, fair value, quality and upside side by side.
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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.Restaurants · 207 stocks
Beats the industry median on 10/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score71 · Top 25%
Fair Value upside+33.9% · Above median
Profitability
Return on equity (12 months)9.4% · Above median
Return on assets9.3% · Top 25%
Net margin (12 months)71.4% · Top 25%
Operating margin (12 months)124.9% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)6.8% · Above median
Dividend yield (12 months)8.7% · Top 25%
Valuation Multiplesvs Restaurants 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.
Cite: Fair Value Calculator (2026). "SIR Royalty Income Fund Fair Value". https://www.fairvalue-calculator.com/stock/SRV-UN
Frequently asked questions
Is SIR Royalty Income Fund (SRV-UN) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of C$18.62 versus a price of C$13.91, about +34% upside (undervalued).
What is the fair value of SRV-UN?
Our model-based fair value for SIR Royalty Income Fund is C$18.62 (as of Oct 3, 2026), built from audited fundamentals. The current price: C$13.91.
What is the quality score of SRV-UN?
SIR Royalty Income Fund has a Quality Score of 71/100. 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 SIR Royalty Income Fund (SRV-UN)?
Our model-based price target is the fair value of C$18.62 (as of Oct 3, 2026) from 19 valuation models. Cautious scenario C$11.83, optimistic scenario C$32.01. It is a calculation from audited fundamentals, not an analyst target.
What is the SIR Royalty Income Fund stock forecast for 2026?
Our models put fair value at C$18.62, about +34% upside versus a price of C$13.91 (undervalued). Cautious scenario C$11.83, optimistic scenario C$32.01. The calculation is refreshed regularly with new filings.
What is the revenue of SIR Royalty Income Fund (SRV-UN)?
SIR Royalty Income Fund reported trailing-twelve-month revenue of about C$11.4M (latest available figure, as of Oct 3, 2026).
Does SIR Royalty Income Fund pay a dividend?
SIR Royalty Income Fund currently shows a dividend yield of 8.66% relative to its recent price (as of Oct 3, 2026).
What growth is priced into SIR Royalty Income Fund (SRV-UN)?
For today's price to be fair in a discounted-cash-flow model, SIR Royalty Income Fund would have to grow free cash flow by +7.0 % per year for five years (discount rate 12.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 6 years revenue grew -4.7 % per year. As of Oct 3, 2026.
What discount rate (WACC) does the fair value of SRV-UN use?
Our models discount SIR Royalty Income Fund at 12.5 %: a base by market capitalisation (micro), 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 SIR Royalty Income Fund that is +7.0 % per year a year over ten years, using the same discount rate (12.5 %) and the same formula as our fair value.
How much growth has SIR Royalty Income Fund (SRV-UN) delivered so far?
Over the past 6 years revenue at SIR Royalty Income Fund grew -4.7 % a year. The price currently implies +7.0 % 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 SIR Royalty Income Fund (SRV-UN) growing?
The median revenue growth in the sector is +4.3 % a year. That is the yardstick for the growth priced into SIR Royalty Income Fund (+7.0 % 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 SIR Royalty Income Fund (SRV-UN)?
The free-cash-flow yield on the price is 7.92 %: that much free cash flow SIR Royalty Income Fund produces per unit of market value. When it exceeds the discount rate of our models (12.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of SIR Royalty Income Fund (SRV-UN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For SIR Royalty Income Fund it is C$18.62 per share (as of Oct 3, 2026), against a price of C$13.91. It is the blended result of 19 valuation models (cash flow, earnings, asset, dividend).
Is SIR Royalty Income Fund stock overvalued or undervalued in 2026?
As of Oct 3, 2026, SRV-UN trades below its calculated fair value: price C$13.91, fair value C$18.62, a gap of about +34% (undervalued). 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 SRV-UN?
No. The price is what the market pays today (C$13.91); the fair value is what the company's own numbers justify (C$18.62). For SIR Royalty Income Fund the two are C$4.71 per share apart. That gap is exactly why we show both numbers side by side.
How much is SIR Royalty Income Fund worth?
The market values SIR Royalty Income Fund at about C$118M (market capitalisation, as of Oct 3, 2026). Per share that is C$13.91; our models calculate a fair value of C$18.62 per share.
What do the bullish and bearish scenarios say about SRV-UN?
Our models span a range for SIR Royalty Income Fund: cautious scenario C$11.83, base C$18.62, optimistic C$32.01 per share (as of Oct 3, 2026, price C$13.91). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SRV-UN?
SIR Royalty Income Fund trades at a price-to-earnings ratio of 14.3 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of C$18.62 is built from several models across several years. Other multiples: P/B 1.4, P/S 10.4, EV/EBITDA 9.8.
How solid is the balance sheet of SIR Royalty Income Fund (SRV-UN)?
Balance-sheet figures for SIR Royalty Income Fund (as of Oct 3, 2026): return on equity 9.4%. They feed the Quality Score of 71/100, which measures business quality independently of the share price.
How far is SRV-UN from its 52-week high?
SIR Royalty Income Fund trades at C$13.91, about 17% below its 52-week high of C$16.75 and 5% above the low of C$13.21 (as of Oct 19, 2026). Distance from the high says nothing about value: that is what the fair value of C$18.62 is for.
Which stocks are comparable to SIR Royalty Income Fund?
From the same area (Consumer Cyclical) we also value McDonald's Corporation, Starbucks Corporation, Chipotle Mexican Grill, Inc, Yum! Brands, Inc, 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 SIR Royalty Income Fund stock attractive at the current price?
The data as of Oct 3, 2026: price C$13.91, calculated fair value C$18.62 (+34%), Quality Score 71/100, from 19 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 SRV-UN calculated?
We run SIR Royalty Income Fund through 19 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$18.62, 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 13.9 % above its aggregate fair value. SIR Royalty Income Fund currently trades 25 % below its own fair value, and the market average says nothing about that. 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 SIR Royalty Income Fund (SRV-UN)?
The closing price on Oct 19, 2026 was C$13.91. Our model-based fair value is C$18.62, about +34% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with SIR Royalty Income Fund right now?
The rarer combination: high quality (71/100) AND below fair value. That earns a closer look rather than a quick verdict. The model range is unusually wide (C$11.83 to C$32.01). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Where does the earnings growth of SIR Royalty Income Fund (SRV-UN) come from?
Earnings per share at SIR Royalty Income Fund grew +6.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.0 %, EBIT margin −6.9 %, tax rate +0.8 %, residual (interest, one-offs) +8.8 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of SIR Royalty Income Fund
How large is the market capitalisation of SIR Royalty Income Fund (SRV-UN)?
The market capitalisation of SIR Royalty Income Fund is C$118M (≈ $83.9M). 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 SIR Royalty Income Fund (SRV-UN)?
The price-to-sales ratio of SIR Royalty Income Fund is 10.4 (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 SIR Royalty Income Fund (SRV-UN)?
Earnings per share at SIR Royalty Income Fund are C$0.9700 (price ÷ EPS = P/E 14.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of SIR Royalty Income Fund (SRV-UN)?
The dividend yield of SIR Royalty Income Fund is 8.7% (payout 124%). 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 SIR Royalty Income Fund (SRV-UN)?
The net margin of SIR Royalty Income Fund is 71.4% (last twelve months). 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 SIR Royalty Income Fund (SRV-UN)?
The return on equity (ROE) of SIR Royalty Income Fund is 9.4% (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 SIR Royalty Income Fund (SRV-UN)?
On an EBIT basis the return on assets of SIR Royalty Income Fund is 18.1% (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 SIR Royalty Income Fund (SRV-UN)?
The operating margin of SIR Royalty Income Fund is 125% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at SIR Royalty Income Fund (SRV-UN)?
Revenue at SIR Royalty Income Fund is growing +6.8% versus a year earlier. 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 SIR Royalty Income Fund (SRV-UN)?
Earnings per share at SIR Royalty Income Fund are growing −15.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does SIR Royalty Income Fund (SRV-UN) hold?
SIR Royalty Income Fund holds more cash than debt, C$321K net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Oct 3, 2026