- Companies
- DREAM Unlimited
DREAM Unlimited Valuation Multiples
DREAM Unlimited is valued at $480M as of October 2026, a 6.3x revenue multiple. In the last 12 months, DREAM Unlimited revenue was $299M.
DREAM Unlimited Overview
About DREAM Unlimited
DREAM Unlimited is a Toronto-based Canadian real estate developer, owner and asset manager listed on the Toronto Stock Exchange (TSX: DRM). Founded by Michael Cooper in the mid-1990s, it develops land and housing in master-planned communities in Western Canada, mainly in Saskatchewan and Alberta, builds office and residential projects in Toronto and holds a portfolio of income-producing properties across Canada. Its asset management business manages Dream Office REIT, Dream Industrial REIT and Dream Impact Trust together with private funds and partnerships, and reported $28 billion of assets under management at June 30, 2026. The company earns revenue from lot and home sales, rental income and asset management fees, and says it has completed $47 billion of real estate transactions since inception. In 2021 it owned 11.2 million square feet of commercial space including 26,018 residential rental units. Its major projects include the Quayside site on Toronto's waterfront, approved by Waterfront Toronto in December 2022 for development with Great Gulf, and the Brightwater community in Mississauga. Recent deals include logistics joint ventures between CPP Investments and Dream Industrial in December 2025 and a $147 million acquisition of UK multi-let industrial business Chancerygate announced in July 2026.
Founded
2013
HQ
Employees
271
Website
Financials (LTM)
EV
$1.9B
Valuation Multiples
Start free trialDREAM Unlimited Financials
DREAM Unlimited reported last 12-month revenue of $299M.
In the same LTM period, DREAM Unlimited generated $116M in gross profit and $21M in net income.
Revenue (LTM)
DREAM Unlimited P&L
In the most recent fiscal year, DREAM Unlimited reported revenue of $325M and EBITDA of $49M.
DREAM Unlimited is unprofitable as of last fiscal year, with gross margin of 40%, EBITDA margin of 15%, and net margin of (4%).
Financial data powered by Morningstar, Inc.
DREAM Unlimited Stock Performance
DREAM Unlimited has current market cap of $480M, and enterprise value of $1.9B.
Market Cap Evolution
DREAM Unlimited's stock price is $11.44.
DREAM Unlimited share price decreased by 2.6% in the last 30 days, and by 13.8% in the last year.
DREAM Unlimited has an EPS (earnings per share) of $-0.31.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $1.9B | $480M | 0.0% | -2.6% | -18.9% | -13.8% | $-0.31 |
Benchmark Trading Valuation Multiples by Industry
Sign up to access valuation multiples like growth-adjusted P/E, Rule of 40, next 12-month EV/Revenue, EBITDA multiples by industry, consensus analyst estimates and many more.
Start Free TrialDREAM Unlimited Valuation Multiples
DREAM Unlimited trades at 6.3x EV/Revenue multiple, and 38.6x EV/EBITDA.
EV / Revenue (LTM)
DREAM Unlimited Financial Valuation Multiples
As of October 4, 2026, DREAM Unlimited has market cap of $480M and EV of $1.9B.
DREAM Unlimited has a P/E ratio of 22.3x.
Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified DREAM Unlimited Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.


DREAM Unlimited Margins & Growth Rates
DREAM Unlimited decreased revenue by 12% but EBITDA grew by 12% in the last fiscal year.
In the most recent fiscal year, DREAM Unlimited reported gross margin of 40%, EBITDA margin of 15%, and net margin of (4%).
DREAM Unlimited Margins
DREAM Unlimited Growth Rates
Data powered by FactSet, Inc. and Morningstar, Inc.
DREAM Unlimited Operational KPIs
DREAM Unlimited's revenue per employee in the last FY averaged $1.2M, while opex per employee averaged $0.2M for the same period.
DREAM Unlimited's Rule of 40 is 7% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
DREAM Unlimited's Rule of X is (11%) (created by Bessemer, Rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Data powered by FactSet, Inc. and Morningstar, Inc.
DREAM Unlimited Competitors
DREAM Unlimited competitors include Testa Residencial, Fiducial Real Estate, Nawi Group, Immobiliare Grande Distribuzione, Dar AlMajed Real Estate, Future Generation Global, Eczacıbaşı Yatırım, Fidere Patrimonio Socimi, Birlesim Grup Enerji and Novavest Real Estate.
Most DREAM Unlimited public comparables operate across Real Estate Development, Energy Production and Asset Management.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $125M | - | 16.1x | - | - | - | |||
| $96M | $64M | 4.9x | - | 7.3x | - | |||
| $150M | $94M | 12.8x | - | 20.4x | - | |||
| $148M | $104M | 9.2x | 9.0x | 13.0x | 12.3x | |||
| $341M | $80M | 2.4x | - | 10.1x | - | |||
| $54M | - | 8.8x | - | - | - | |||
| - | $16M | - | - | 30.1x | - | |||
| $60M | $37M | 15.0x | - | 24.4x | - | |||
This data is available for Pro users. Sign up to see all DREAM Unlimited competitors and their valuation data. Start Free Trial | ||||||||
Acquisitions by DREAM Unlimited
DREAM Unlimited has acquired 1 company to date.
Last acquisition by DREAM Unlimited was on August 25th 1997. DREAM Unlimited acquired Arapahoe Basin Ski Area for $4M (EV/Revenue multiple available to Pro users).
Latest Acquisitions by DREAM Unlimited
| Description | Arapahoe Basin Ski Area is a ski resort in Summit County, Colorado, on US Highway 6 near Keystone in the White River National Forest. It has 1,428 acres of skiable terrain, a summit elevation of 13,050 feet on the East Wall, among the highest in-bounds terrain in North America, and a base at 10,780 feet, served by six chairlifts including a high-speed six-pack, and is known mainly for advanced and expert terrain such as the East and West Walls, Montezuma Bowl and the Beavers and Steep Gullies expansion opened in 2017-18. Its high, north-facing slopes and snowmaking installed in 2002 give it one of the longest seasons in North America, often opening in mid-October and running lifts into June. It earns revenue from lift tickets, season passes, lessons, rentals and food, and since the 2019-20 season has been part of the Ikon Pass after ending a partnership of more than 20 years with Vail Resorts and its Epic Pass. Larry and Marnie Jump, Max Dercum and Sandy Shaufler started the area in 1945 and it opened for skiing in 1946. It was later owned by Joe Jankovsky, Ralston Purina, Vail Resorts and, from 1997, Dundee Resort Development of Canada; Alterra Mountain Company agreed to buy it in February 2024 and completed the purchase on November 19, 2024. |
| HQ Country | |
| HQ City | Dillon, CO |
| Deal Date | 25 Aug 1997 |
| Valuation | $4M |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all DREAM Unlimited acquisitions and their M&A valuation multiples. Start Free Trial | |
Investments by DREAM Unlimited
DREAM Unlimited has invested in 3 companies to date.
Latest investment by DREAM Unlimited was on November 13th 2018. DREAM Unlimited invested in Alate Partners in their $40M Seed round (EV/Revenue multiple available to Pro users).
Latest Investments by DREAM Unlimited
| Description | Alate Partners is a venture capital firm based in Toronto that invests in proptech startups transforming commercial, residential, and industrial real estate sectors. The firm partners with Dream and Relay Ventures to deliver funding alongside strategic introductions to real estate operators and managers across North America. Alate targets companies developing software for property design, construction management, and asset operations, including platforms like Dealpath for real estate deal management and Higharc for homebuilding automation. With a focus on early-stage investments, Alate supports founders scaling technologies amid urbanization trends in Canada and the United States. | Bili Wangluo develops mobile games for the Chinese market. The Beijing-based studio, operating under V5 King, creates casual and strategy titles distributed through major app stores. Its portfolio includes multiplayer online battle arena games and hyper-casual apps optimized for Android and iOS platforms. The company focuses on user acquisition via domestic channels and partnerships with local publishers to expand reach within China's gaming ecosystem. | Huandong Keji is a Shenzhen-headquartered game studio focused on mobile and online action titles like battle royales and MMORPGs. The company publishes games through platforms such as App Store and Google Play, with titles available in China and Southeast Asia. It employs over 200 developers and collaborates with Tencent for distribution. |
| HQ Country | |||
| HQ City | Toronto | Shanghai | Shanghai |
| Deal Date | 13 Nov 2018 | 14 Aug 2018 | 27 May 2014 |
| Round | Seed | Series B | Angel |
| Raised | $40M | $3M | $200K |
| Investors | Relay Ventures; DREAM Unlimited | DREAM Unlimited | DREAM Unlimited |
| Valuation | undisclosed | undisclosed | undisclosed |
| EV/Revenue | |||
| EV/EBITDA | |||
This data is available for Pro users. Sign up to see all DREAM Unlimited investments and their VC round multiples. Start Free Trial | |||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAbout DREAM Unlimited
| When was DREAM Unlimited founded? | DREAM Unlimited was founded in 2013. |
| Where is DREAM Unlimited headquartered? | DREAM Unlimited is headquartered in Canada. |
| How many employees does DREAM Unlimited have? | As of today, DREAM Unlimited has over 271 employees. |
| Is DREAM Unlimited publicly listed? | Yes, DREAM Unlimited is a public company listed on Toronto Stock Exchange. |
| What is the stock symbol of DREAM Unlimited? | DREAM Unlimited trades under DRM ticker. |
| When did DREAM Unlimited go public? | DREAM Unlimited went public in 2013. |
| Who are competitors of DREAM Unlimited? | DREAM Unlimited main competitors include Testa Residencial, Fiducial Real Estate, Nawi Group, Immobiliare Grande Distribuzione, Dar AlMajed Real Estate, Future Generation Global, Eczacıbaşı Yatırım, Fidere Patrimonio Socimi, Birlesim Grup Enerji, Novavest Real Estate. |
| What is the current market cap of DREAM Unlimited? | DREAM Unlimited's current market cap is $480M. |
| What is the current revenue of DREAM Unlimited? | DREAM Unlimited's last 12 months revenue is $299M. |
| What is the current revenue growth of DREAM Unlimited? | DREAM Unlimited revenue growth (NTM/LTM) is 7%. |
| What is the current EV/Revenue multiple of DREAM Unlimited? | Current revenue multiple of DREAM Unlimited is 6.3x. |
| What is the current net income of DREAM Unlimited? | DREAM Unlimited's last 12 months net income is $21M. |
| How many companies DREAM Unlimited has acquired to date? | As of October 2026, DREAM Unlimited has acquired 1 company. |
| What was the largest acquisition by DREAM Unlimited? | $4M acquisition of Arapahoe Basin Ski Area on 25th August 1997 was the largest M&A DREAM Unlimited has done to date. |
| What companies DREAM Unlimited acquired? | DREAM Unlimited acquired Arapahoe Basin Ski Area. |
| In how many companies DREAM Unlimited has invested to date? | As of October 2026, DREAM Unlimited has invested in 3 companies. |
| What was the last DREAM Unlimited investment? | On 13th November 2018 DREAM Unlimited invested in Alate Partners, participating in a $40M Seed round, alongside Relay Ventures. |
| In what companies DREAM Unlimited invested in? | DREAM Unlimited invested in Alate Partners, Bili Wangluo, and Huandong Keji. |
See public comps similar to DREAM Unlimited
Lists including DREAM Unlimited
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.




