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Crop Infrastructure

CNSX:CROP
Snowflake Description

Imperfect balance sheet and overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CROP
CNSX
CA$17M
Market Cap
  1. Home
  2. CA
  3. Real Estate
Company description

Crop Infrastructure Corp. invests in, constructs, owns, and leases greenhouse projects to licensed cannabis producers. The last earnings update was 48 days ago. More info.


Add to Portfolio Compare Print
  • Crop Infrastructure has significant price volatility in the past 3 months.
CROP Share Price and Events
7 Day Returns
0%
CNSX:CROP
-0.8%
CA Real Estate
1.2%
CA Market
1 Year Returns
-71%
CNSX:CROP
5.2%
CA Real Estate
-0.2%
CA Market
CROP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Crop Infrastructure (CROP) 0% -33.3% -53.5% -71% - -
CA Real Estate -0.8% 0.8% 1.1% 5.2% 40.5% 38.8%
CA Market 1.2% 4.2% 1.5% -0.2% 8.4% 1.8%
1 Year Return vs Industry and Market
  • CROP underperformed the Real Estate industry which returned 5.2% over the past year.
  • CROP underperformed the Market in Canada which returned -0.2% over the past year.
Price Volatility
Industry
5yr Volatility vs Market

CROP Value

 Is Crop Infrastructure undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
  • It is not possible to calculate the future cash flow value for Crop Infrastructure. This is due to cash flow or dividend data being unavailable. The share price is CA$0.1.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Crop Infrastructure's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Crop Infrastructure's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
CNSX:CROP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-05-31) in CAD CA$-0.11
CNSX:CROP Share Price ** CNSX (2019-09-13) in CAD CA$0.1
Canada Real Estate Industry PE Ratio Median Figure of 21 Publicly-Listed Real Estate Companies 12.69x
Canada Market PE Ratio Median Figure of 538 Publicly-Listed Companies 14.15x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Crop Infrastructure.

CNSX:CROP PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= CNSX:CROP Share Price ÷ EPS (both in CAD)

= 0.1 ÷ -0.11

-0.95x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Crop Infrastructure is loss making, we can't compare its value to the CA Real Estate industry average.
  • Crop Infrastructure is loss making, we can't compare the value of its earnings to the Canada market.
Price based on expected Growth
Does Crop Infrastructure's expected growth come at a high price?
Raw Data
CNSX:CROP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -0.95x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
North America Real Estate Industry PEG Ratio Median Figure of 13 Publicly-Listed Real Estate Companies 0.39x
Canada Market PEG Ratio Median Figure of 246 Publicly-Listed Companies 0.98x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Crop Infrastructure, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Crop Infrastructure's assets?
Raw Data
CNSX:CROP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-05-31) in CAD CA$0.13
CNSX:CROP Share Price * CNSX (2019-09-13) in CAD CA$0.1
Canada Real Estate Industry PB Ratio Median Figure of 40 Publicly-Listed Real Estate Companies 0.84x
Canada Market PB Ratio Median Figure of 2,452 Publicly-Listed Companies 1.44x
CNSX:CROP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= CNSX:CROP Share Price ÷ Book Value per Share (both in CAD)

= 0.1 ÷ 0.13

0.75x

* Primary Listing of Crop Infrastructure.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Crop Infrastructure is good value based on assets compared to the CA Real Estate industry average.
X
Value checks
We assess Crop Infrastructure's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Real Estate industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Real Estate industry average (and greater than 0)? (1 check)
  5. Crop Infrastructure has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

CROP Future Performance

 How is Crop Infrastructure expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Crop Infrastructure has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
34.4%
Expected Real Estate industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Crop Infrastructure expected to grow at an attractive rate?
  • Unable to compare Crop Infrastructure's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Crop Infrastructure's earnings growth to the Canada market average as no estimate data is available.
  • Unable to compare Crop Infrastructure's revenue growth to the Canada market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
CNSX:CROP Future Growth Rates Data Sources
Data Point Source Value (per year)
Canada Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 34.4%
Canada Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 5.4%
Canada Market Earnings Growth Rate Market Cap Weighted Average 12.6%
Canada Market Revenue Growth Rate Market Cap Weighted Average 6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
CNSX:CROP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
CNSX:CROP Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-05-31 0 -6 -15
2019-02-28 0 -7 -15
2018-02-28 -1 -1
2017-12-31 -1 -1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Crop Infrastructure is high growth as no earnings estimate data is available.
  • Unable to determine if Crop Infrastructure is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
CNSX:CROP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Crop Infrastructure Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

CNSX:CROP Past Financials Data
Date (Data in CAD Millions) EPS *
2019-05-31 -0.11
2019-02-28 -0.14
2018-02-28
2017-12-31 -0.02

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Crop Infrastructure will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Crop Infrastructure's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Real Estate companies here
  2. Crop Infrastructure's competitive advantages and company strategy can generally be found in its financial reports archived here.
  3. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Crop Infrastructure's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Crop Infrastructure has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

CROP Past Performance

  How has Crop Infrastructure performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Crop Infrastructure's growth in the last year to its industry (Real Estate).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Crop Infrastructure does not make a profit and there is insufficient past data to establish if their 5 year on year earnings growth rate was positive.
  • Unable to compare Crop Infrastructure's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Crop Infrastructure's 1-year growth to the CA Real Estate industry average as it is not currently profitable.
Earnings and Revenue History
Crop Infrastructure's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Crop Infrastructure Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

CNSX:CROP Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-05-31 -0.05 -14.81 14.91
2019-02-28 -0.05 -15.28 15.17
2018-02-28 -0.65 0.65
2017-12-31 -0.50 0.50

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Crop Infrastructure has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Crop Infrastructure has efficiently used its assets last year compared to the CA Real Estate industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Crop Infrastructure improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Crop Infrastructure's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Real Estate industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Crop Infrastructure has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

CROP Health

 How is Crop Infrastructure's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Crop Infrastructure's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Crop Infrastructure is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Crop Infrastructure's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Crop Infrastructure's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Crop Infrastructure Company Filings, last reported 3 months ago.

CNSX:CROP Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-05-31 22.00 3.48 0.09
2019-02-28 20.91 3.41 5.66
2018-02-28 4.37 0.00 0.49
2017-12-31 4.36 0.00 1.43
  • Crop Infrastructure's level of debt (15.8%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if Crop Infrastructure's debt level has increased without past 5-year debt data.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Crop Infrastructure has less than a year of cash runway based on current free cash flow.
  • Crop Infrastructure has less than a year of cash runway if free cash flow continues to grow at historical rates of 132.3% each year.
X
Financial health checks
We assess Crop Infrastructure's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Crop Infrastructure has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

CROP Dividends

 What is Crop Infrastructure's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Crop Infrastructure dividends.
If you bought CA$2,000 of Crop Infrastructure shares you are expected to receive CA$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Crop Infrastructure's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Crop Infrastructure's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
CNSX:CROP Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Canada Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 1.9%
Canada Market Average Dividend Yield Market Cap Weighted Average of 333 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.2%
Canada Bottom 25% Dividend Yield 25th Percentile 2%
Canada Top 25% Dividend Yield 75th Percentile 5.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Crop Infrastructure has not reported any payouts.
  • Unable to verify if Crop Infrastructure's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Crop Infrastructure's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Crop Infrastructure has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Crop Infrastructure's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Crop Infrastructure afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Crop Infrastructure has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

CROP Management

 What is the CEO of Crop Infrastructure's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Michael Yorke
AGE 36
CEO Bio

Mr. Michael Yorke serves as the President, Chief Executive Officer and Director at Crop Infrastructure Corp. Mr. Yorke has been an active day trader and equity investor for the last 8 years. He has worked in with On-Page Media organizing Capital Market events. His previous work experience includes working in banking at RBC as a customer service representative. He also completed his bachelor of business administration degree at BCIT with a diploma in International Business and is currently working part-time towards obtaining a master of business administration degree.

CEO Compensation
  • Insufficient data for Michael to compare compensation growth.
  • Insufficient data for Michael to establish whether their remuneration is reasonable compared to companies of similar size in Canada.
Management Team

Abbey Abdiye

TITLE
Chief Financial Officer
COMPENSATION
CA$29K
AGE
45
TENURE
2.8 yrs

Michael Yorke

TITLE
President
AGE
36

Arashdeep Singh

TITLE
Head of Marketing at CannaDrink
TENURE
0.9 yrs
Board of Directors Tenure

Average tenure of the Crop Infrastructure board of directors in years:

1.3
Average Tenure
  • The average tenure for the Crop Infrastructure board of directors is less than 3 years, this suggests a new board.
Board of Directors

Michael Yorke

TITLE
President
AGE
36

Christine Mah

TITLE
Director
TENURE
2.8 yrs

Twila Jensen

TITLE
Director
TENURE
1.3 yrs

Greg Douglas

TITLE
Member of Executive Advisory Board
TENURE
1.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
15. Oct 18 Buy Michael Yorke Individual 11. Oct 18 11. Oct 18 50,000 CA$0.44 CA$21,750
X
Management checks
We assess Crop Infrastructure's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Crop Infrastructure has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

CROP News

Simply Wall St News

CROP Company Info

Description

Crop Infrastructure Corp. invests in, constructs, owns, and leases greenhouse projects to licensed cannabis producers. The company’s portfolio of project includes cultivation properties in California; and two in Washington State, such as a 1,000-acre Nevada cannabis farm and 2,115 acres of hemp CBD farms. It develops a portfolio of assets, including Canna Drink, a cannabis infused functional beverage line and 16 Cannabis brands. The company was formerly known as Fortify Resources Inc. and changed its name to Crop Infrastructure Corp. in March 2018. Crop Infrastructure Corp. was incorporated in 2011 and is headquartered in Vancouver, Canada.

Details
Name: Crop Infrastructure Corp.
CROP
Exchange: CNSX
Founded: 2011
CA$17,009,886
170,098,865
Website: http://www.cropcorp.com
Address: Crop Infrastructure Corp.
535 Howe Street,
Suite 600,
Vancouver,
British Columbia, V6C 2Z4,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
CNSX CROP Common Shares Canadian National Stock Exchange CA CAD 06. Nov 2017
OTCPK CRXP.F Common Shares Pink Sheets LLC US USD 06. Nov 2017
DB 2FR Common Shares Deutsche Boerse AG DE EUR 06. Nov 2017
Number of employees
Current staff
Staff numbers
0
Crop Infrastructure employees.
Industry
Real Estate Operating Companies
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/09/15 01:31
End of day share price update: 2019/09/13 00:00
Last earnings filing: 2019/07/29
Last earnings reported: 2019/05/31
Last annual earnings reported: 2019/02/28


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.