BRANDYWINE REALTY TRUST (BDN) Stock Fundamental Analysis
NYSE:BDN - New York Stock Exchange, Inc. - US1053682035 - REIT - Currency: USD
Overall BDN gets a fundamental rating of 3 out of 10. We evaluated BDN against 129 industry peers in the Diversified REITs industry. BDN has a bad profitability rating. Also its financial health evaluation is rather negative. BDN has a expensive valuation and it also scores bad on growth.
1. Profitability
1.1 Basic Checks
BDN had negative earnings in the past year.
BDN had a positive operating cash flow in the past year.
In multiple years BDN reported negative net income over the last 5 years.
In the past 5 years BDN always reported a positive cash flow from operatings.
1.2 Ratios
Looking at the Return On Assets, with a value of -6.07%, BDN is doing worse than 86.05% of the companies in the same industry.
BDN has a worse Return On Equity (-20.91%) than 88.37% of its industry peers.
BDN has a Return On Invested Capital of 2.10%. This is in the lower half of the industry: BDN underperforms 65.12% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for BDN is in line with the industry average of 3.16%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -6.07% | ||
| ROE | -20.91% | ||
| ROIC | 2.1% |
ROA(3y)-3.18%
ROA(5y)-0.28%
ROE(3y)-10.22%
ROE(5y)-2.59%
ROIC(3y)2.23%
ROIC(5y)2.2%
1.3 Margins
BDN has a Operating Margin of 17.26%. This is comparable to the rest of the industry: BDN outperforms 40.31% of its industry peers.
In the last couple of years the Operating Margin of BDN has remained more or less at the same level.
Looking at the Gross Margin, with a value of 62.54%, BDN is doing worse than 64.34% of the companies in the same industry.
In the last couple of years the Gross Margin of BDN has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 17.26% | ||
| PM (TTM) | N/A | ||
| GM | 62.54% |
OM growth 3Y1.22%
OM growth 5Y-0.14%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0.85%
GM growth 5Y0.61%
2. Health
2.1 Basic Checks
BDN has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
Compared to 1 year ago, BDN has more shares outstanding
The number of shares outstanding for BDN has been reduced compared to 5 years ago.
The debt/assets ratio for BDN is higher compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of -0.47, we must say that BDN is in the distress zone and has some risk of bankruptcy.
BDN's Altman-Z score of -0.47 is on the low side compared to the rest of the industry. BDN is outperformed by 88.37% of its industry peers.
The Debt to FCF ratio of BDN is 78.03, which is on the high side as it means it would take BDN, 78.03 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of BDN (78.03) is comparable to the rest of the industry.
A Debt/Equity ratio of 2.23 is on the high side and indicates that BDN has dependencies on debt financing.
BDN has a worse Debt to Equity ratio (2.23) than 77.52% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.23 | ||
| Debt/FCF | 78.03 | ||
| Altman-Z | -0.47 |
ROIC/WACC0.28
WACC7.41%
2.3 Liquidity
A Current Ratio of 1.36 indicates that BDN should not have too much problems paying its short term obligations.
BDN has a better Current ratio (1.36) than 65.89% of its industry peers.
A Quick Ratio of 1.36 indicates that BDN should not have too much problems paying its short term obligations.
Looking at the Quick ratio, with a value of 1.36, BDN is in the better half of the industry, outperforming 66.67% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.36 | ||
| Quick Ratio | 1.36 |
3. Growth
3.1 Past
BDN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 26.23%, which is quite impressive.
BDN shows a decrease in Revenue. In the last year, the revenue decreased by -2.23%.
BDN shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -2.72% yearly.
EPS 1Y (TTM)26.23%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%240%
Revenue 1Y (TTM)-2.23%
Revenue growth 3Y1.27%
Revenue growth 5Y-2.72%
Sales Q2Q%-3.92%
3.2 Future
Based on estimates for the next years, BDN will show a quite strong growth in Earnings Per Share. The EPS will grow by 19.71% on average per year.
The Revenue is expected to grow by 2.05% on average over the next years.
EPS Next Y46.18%
EPS Next 2Y19.71%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-1.74%
Revenue Next 2Y0.87%
Revenue Next 3Y3.57%
Revenue Next 5Y2.05%
3.3 Evolution
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
BDN reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Also next year BDN is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | N/A |
4.2 Price Multiples
BDN's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. BDN is cheaper than 75.19% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, BDN is valued a bit cheaper than 74.42% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 25.55 | ||
| EV/EBITDA | 11.03 |
4.3 Compensation for Growth
BDN's earnings are expected to grow with 19.71% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y19.71%
EPS Next 3YN/A
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 14.56%, BDN is a good candidate for dividend investing.
BDN's Dividend Yield is rather good when compared to the industry average which is at 6.71. BDN pays more dividend than 95.35% of the companies in the same industry.
BDN's Dividend Yield is rather good when compared to the S&P500 average which is at 2.41.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 14.56% |
5.2 History
The dividend of BDN decreases each year by -4.40%.
BDN has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)-4.4%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
The earnings of BDN are negative and hence is the payout ratio. BDN will probably not be able to sustain this dividend level.
DP-50.39%
EPS Next 2Y19.71%
EPS Next 3YN/A
4.19
+0.07 (+1.7%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners93.27%
Inst Owner Change-4.06%
Ins Owners2.68%
Ins Owner Change15.67%
Market Cap725.08M
Analysts68
Price Target5 (19.33%)
Short Float %7.83%
Short Ratio5.27
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 14.56% |
Yearly Dividend0.61
Dividend Growth(5Y)-4.4%
DP-50.39%
Div Incr Years0
Div Non Decr Years0
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-37.57%
Min EPS beat(2)-253.61%
Max EPS beat(2)178.46%
EPS beat(4)2
Avg EPS beat(4)-454.59%
Min EPS beat(4)-2000.99%
Max EPS beat(4)257.79%
EPS beat(8)2
Avg EPS beat(8)-427.08%
EPS beat(12)6
Avg EPS beat(12)4.58%
EPS beat(16)8
Avg EPS beat(16)67.05%
Revenue beat(2)0
Avg Revenue beat(2)-1.79%
Min Revenue beat(2)-3.27%
Max Revenue beat(2)-0.31%
Revenue beat(4)0
Avg Revenue beat(4)-1.83%
Min Revenue beat(4)-3.27%
Max Revenue beat(4)-0.31%
Revenue beat(8)0
Avg Revenue beat(8)-1.98%
Revenue beat(12)1
Avg Revenue beat(12)-1.33%
Revenue beat(16)3
Avg Revenue beat(16)-0.75%
PT rev (1m)-2%
PT rev (3m)-9.26%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-51.52%
EPS NY rev (1m)0.82%
EPS NY rev (3m)-54.45%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.18%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.78%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | N/A | ||
| P/S | 1.45 | ||
| P/FCF | 25.55 | ||
| P/OCF | 4.43 | ||
| P/B | 0.73 | ||
| P/tB | 0.73 | ||
| EV/EBITDA | 11.03 |
EPS(TTM)-0.9
EYN/A
EPS(NY)-0.65
Fwd EYN/A
FCF(TTM)0.16
FCFY3.91%
OCF(TTM)0.95
OCFY22.57%
SpS2.89
BVpS5.74
TBVpS5.71
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -6.07% | ||
| ROE | -20.91% | ||
| ROCE | 2.65% | ||
| ROIC | 2.1% | ||
| ROICexc | 2.12% | ||
| ROICexgc | 2.2% | ||
| OM | 17.26% | ||
| PM (TTM) | N/A | ||
| GM | 62.54% | ||
| FCFM | 5.67% |
ROA(3y)-3.18%
ROA(5y)-0.28%
ROE(3y)-10.22%
ROE(5y)-2.59%
ROIC(3y)2.23%
ROIC(5y)2.2%
ROICexc(3y)2.26%
ROICexc(5y)2.23%
ROICexgc(3y)2.33%
ROICexgc(5y)2.32%
ROCE(3y)2.82%
ROCE(5y)2.78%
ROICexcg growth 3Y6.19%
ROICexcg growth 5Y0.16%
ROICexc growth 3Y6.48%
ROICexc growth 5Y0.48%
OM growth 3Y1.22%
OM growth 5Y-0.14%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0.85%
GM growth 5Y0.61%
F-Score3
Asset Turnover0.15
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.23 | ||
| Debt/FCF | 78.03 | ||
| Debt/EBITDA | 8.39 | ||
| Cap/Depr | 76.21% | ||
| Cap/Sales | 27.02% | ||
| Interest Coverage | 0.65 | ||
| Cash Conversion | 62.01% | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.36 | ||
| Quick Ratio | 1.36 | ||
| Altman-Z | -0.47 |
F-Score3
WACC7.41%
ROIC/WACC0.28
Cap/Depr(3y)103.18%
Cap/Depr(5y)98.55%
Cap/Sales(3y)36.74%
Cap/Sales(5y)35.16%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)26.23%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%240%
EPS Next Y46.18%
EPS Next 2Y19.71%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-2.23%
Revenue growth 3Y1.27%
Revenue growth 5Y-2.72%
Sales Q2Q%-3.92%
Revenue Next Year-1.74%
Revenue Next 2Y0.87%
Revenue Next 3Y3.57%
Revenue Next 5Y2.05%
EBIT growth 1Y-14.27%
EBIT growth 3Y2.5%
EBIT growth 5Y-2.86%
EBIT Next Year172.89%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y189.81%
FCF growth 3Y-2.72%
FCF growth 5Y7.43%
OCF growth 1Y-12.12%
OCF growth 3Y-1.74%
OCF growth 5Y-5.01%