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Home CompaniesReal Estate & E-Commerce Split Corp

Real Estate & E-Commerce Split Corp

Financial Services Asset Management
PortfolioPortfolio WatchlistWatchlist
Company price
8.55 CAD 0.17 ( 2.03%)
Last update at 2026-11-04T20:39:00Z
VOLUME
42073
Market Cap
117.63M
P/E
6.45

Momentum Score

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Real Estate & E-Commerce Split Corp. is a balanced mutual fund launched by Middlefield Limited. The fund is managed by Middlefield Capital Corporation. Real Estate & E-Commerce Split Corp. Real Estate & E-Commerce Split Corp. was formed on October 7, 2020 and is domiciled in Canada.

Source: TradingView
The charts and visual representations are sourced from TradingView through embedded widgets. For any issues with chart display, please visit the TradingView website

Day Price Range
8.35
Low
8.55
High
52 Week Price Range
7.66
Low
10.06
High

Momentum Score

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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

Real Estate & E-Commerce Split Corp (RS.TO) is a Toronto-listed split share corporation offering exposure to real estate and e-commerce-related equities. Long-term drivers may include secular e-commerce adoption and income or appreciation from real assets. Investors may find the company attractive as a single vehicle for diversified exposure to property and online-retail trends.

Key risks include sensitivity to real estate cycles and equity volatility in e-commerce, structural and liquidity complexities of split-share vehicles, and reliance on manager execution and distribution sustainability.

Risk Score
Medium

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
8.38
Dividend Yield
-
Revenue TTM
0.00M
Revenue Per Share
-
Gross Profit TTM
0.00M
Debt / Equity
-
ROE
-
Net Debt
-11.19M
ROCE
3.55%
Diluted EPS TTM
1.55

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Type yearly yearly yearly yearly yearly
Date 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Income before tax -6.52M 3.89M -17.31M 12.37M -0.25M
Net income -7.02M 3.81M -17.34M 12.30M -0.26M
Selling general administrative 0.15M 0.16M 1.32M 0.90M 0.20M
Gross profit 4.43M 3.71M 2.07M 0.67M 0.18M
Ebit - -0.29M - - -
Ebitda -6.52M 3.92M -17.30M 12.37M -0.25M
Depreciation and amortization - 0.17M - - -
Operating income 4.02M 3.22M -15.11M 13.58M -0.16M
Other operating expenses 2.14M 1.93M - - -
Interest expense 0.00M 0.03M 0.02M 0.00M 0.00M
Tax provision 0.50M 0.08M 0.03M 0.07M 0.01M
Net interest income -0.00M -0.03M -0.02M -0.00M -0.00M
Income tax expense 0.50M 0.08M - - -
Total revenue 6.17M 5.14M -13.79M 14.48M 0.04M
Total operating expenses 0.41M 0.49M 1.32M 0.90M 0.20M
Cost of revenue 1.73M 1.44M 1.05M 0.70M 0.06M
Total other income expense net -10.54M 0.68M -2.19M -1.21M -0.09M
Net income from continuing ops -7.02M 3.81M -17.34M 12.30M -0.26M
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Type yearly yearly yearly yearly yearly
Date 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Total assets 231.44M 150.25M 121.09M 78.56M 38.43M
Total liab 118.11M 70.19M 54.64M 27.69M 16.67M
Total stockholder equity 113.33M 80.06M 66.46M 50.87M 21.76M
Other current liab 117.85M 69.97M 52.62M 26.41M 16.14M
Cash 11.19M 3.45M 5.36M 3.71M 2.46M
Total current liabilities 118.11M 70.19M 54.64M 27.69M 16.67M
Net debt -11.19M -3.45M - - -
Short long term debt - - 0.50M 0.50M -
Other stockholder equity 113.33M - - - -
Total current assets 231.44M 150.25M 121.09M 78.56M 38.43M
Short term investments 219.32M 145.85M 115.25M 74.55M 35.78M
Net receivables 0.93M 0.94M 0.48M 0.30M 0.18M
Accounts payable 0.26M 0.22M 0.14M 0.09M 0.27M
Non current assets total 0.00M 0.00M 0.00M 0.00M 0.00M
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Type yearly yearly yearly yearly yearly
Date 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Net borrowings 0.00M -0.53M - - -
Total cash from financing activities 87.80M 24.74M 59.47M 27.75M 38.32M
Net income -7.02M 3.81M -17.34M 12.30M -0.26M
Change in cash 7.73M -1.91M 1.65M 1.34M 2.46M
Begin period cash flow 3.45M 5.36M 3.71M 2.46M 0.00M
End period cash flow 11.19M 3.45M 5.36M 3.71M 2.46M
Total cash from operating activities -80.19M -26.66M -57.83M -26.41M -35.87M
Issuance of capital stock 102.97M 36.71M 68.50M 31.32M 40.35M
Dividends paid -12.14M -9.35M 5.85M 2.66M 0.00M
Sale purchase of stock -0.00M -0.05M -0.01M - -
Other cashflows from financing activities 43.53M 13.57M - - -
Capital expenditures 0.00M 0.00M 0.00M 0.00M 0.00M
Change in working capital -0.18M -0.02M -0.12M -0.28M 0.08M
Other non cash items -72.99M -30.45M -57.62M -25.65M -35.98M
Free cash flow -80.19M -26.66M -57.83M -26.41M -35.87M

Peer Comparison*

Sector: Financial Services Industry: Asset Management

Stock Name
Change
(CAD)
Price
(CAD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
Enterprise Value
to EBITDA (x)
RS
Real Estate & E-Commerce Split Corp		 0.17
2.03%		 8.55 6.45 - 16.71 0.99 2.75 2.03
BLK
BlackRock CDR (CAD Hedged)		 1.70
5.77%		 31.14 25.23 18.90 6.38 2.79 6.35 17.13
BN
Brookfield Corporation		 3.35
5.89%		 60.20 94.76 11.96 1.84 2.36 4.58 10.80
BAM
Brookfield Asset Management Ltd		 4.01
5.62%		 75.33 31.22 25.51 22.40 9.70 17.61 25.08
PHYS
Sprott Physical Gold Trust		 1.14
2.74%		 42.73 3.81 - 3.47 1.06 4.09 0.66

Profile*

Real Estate & E-Commerce Split Corp

Real Estate & E-Commerce Split Corp. is a balanced mutual fund launched by Middlefield Limited. The fund is managed by Middlefield Capital Corporation. Real Estate & E-Commerce Split Corp. Real Estate & E-Commerce Split Corp. was formed on October 7, 2020 and is domiciled in Canada.

The Well | 8 Spadina Avenue, Toronto, ON, Canada, M5V 0S8

416 362 0714

https://www.middlefield.com/reecsc.htm

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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