# True North Commercial REIT (TUERF)

> Real Estate · CA · Reports in CAD

Fundamental indicators from Sponda, adjusted for inflation.

[HTML version](https://sponda.capital/en/TUERF/fundamentals)

## Annual figures

| Year | Revenue (M) | Net Inc. (M) | FCF (M) | Debt (M) | Equity (M) |
| --- | --- | --- | --- | --- | --- |
| 2026 | $ 29.91M | $ 538.4K | $ 19.76M | $ 737.33M | $ 374.27M |
| 2025 | $ 130.09M | $ -32.56M | $ 62.85M | $ 732.28M | $ 374.82M |
| 2024 | $ 129.31M | $ -21.35M | $ 61.19M | $ 767.74M | $ 416.00M |
| 2023 | $ 137.18M | $ -49.99M | $ 76.72M | $ 820.99M | $ 452.80M |
| 2022 | $ 154.04M | $ -23.29M | $ 110.80M | $ 861.09M | $ 522.14M |
| 2021 | $ 158.01M | $ 58.18M | $ 88.19M | $ 820.40M | $ 540.07M |
| 2020 | $ 166.68M | $ 47.52M | $ 109.25M | $ 812.49M | $ 525.21M |
| 2019 | $ 128.20M | $ 29.12M | $ 70.56M | $ 792.58M | $ 527.33M |
| 2018 | $ 107.21M | $ 61.10M | $ 65.64M | $ 531.00M | $ 363.09M |
| 2017 | $ 70.34M | $ 36.10M | $ 38.16M | $ 386.29M | $ 248.20M |
| 2016 | $ 52.90M | $ -129.2K | $ 31.15M | $ 253.47M | $ 167.67M |
| 2015 | $ 48.20M | $ 21.39M | $ 26.89M | $ 207.13M | $ 110.55M |
| 2014 | $ 30.77M | $ 17.13M | $ 14.19M | $ 188.76M | $ 102.36M |
| 2013 | $ 23.09M | $ 17.86M | $ 11.71M | $ 109.09M | $ 54.31M |
| 2012 | $ 98.9K | $ -18.68M | $ -139.6K | $ 10.15M | $ -11.75M |

Columns not available in this view: annualPriceMultiples, dividends. They require live market data and are shown on the HTML page instead.

## Leverage and liquidity

| Indicator | Value |
| --- | --- |
| Gross Debt / Eq | 1.97 |
| Liabilities / Eq | 2.14 |
| Current Ratio | 0.08 |

## Debt coverage

| Indicator | Value |
| --- | --- |
| Gross Debt / Earnings | 69.56 |
| Gross Debt / FCF | 10.13 |

## Other views

- [Metrics](https://sponda.capital/en/TUERF.md)
- [Charts](https://sponda.capital/en/TUERF/charts.md)
- [Compare](https://sponda.capital/en/TUERF/compare.md)
- [Indicator definitions](https://sponda.capital/en/screener.md)

Data as of 2026-08-23.