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
In the past year BDN has reported negative net income.
In the past year BDN had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: BDN reported negative net income in multiple years.
BDN had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
BDN has a worse Return On Assets (-6.07%) than 88.37% of its industry peers.
BDN's Return On Equity of -20.91% is on the low side compared to the rest of the industry. BDN is outperformed by 87.60% of its industry peers.
BDN has a worse Return On Invested Capital (2.10%) than 64.34% of its industry peers.
BDN had an Average Return On Invested Capital over the past 3 years of 2.23%. This is in line with the industry average of 3.15%.
| 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 worse Operating Margin (17.26%) than 60.47% of its industry peers.
In the last couple of years the Operating Margin of BDN has remained more or less at the same level.
The Gross Margin of BDN (62.54%) is worse than 64.34% of its industry peers.
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.
BDN has more shares outstanding than it did 1 year ago.
BDN has less shares outstanding than it did 5 years ago.
Compared to 1 year ago, BDN has a worse debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of -0.46, we must say that BDN is in the distress zone and has some risk of bankruptcy.
BDN has a Altman-Z score of -0.46. This is amonst the worse of the industry: BDN underperforms 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 better than 61.24% of its industry peers.
A Debt/Equity ratio of 2.23 is on the high side and indicates that BDN has dependencies on debt financing.
With a Debt to Equity ratio value of 2.23, BDN is not doing good in the industry: 78.29% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.23 | ||
| Debt/FCF | 78.03 | ||
| Altman-Z | -0.46 |
ROIC/WACC0.29
WACC7.3%
2.3 Liquidity
BDN has a Current Ratio of 1.36. This is a normal value and indicates that BDN is financially healthy and should not expect problems in meeting its short term obligations.
BDN has a better Current ratio (1.36) than 67.44% of its industry peers.
BDN has a Quick Ratio of 1.36. This is a normal value and indicates that BDN is financially healthy and should not expect problems in meeting 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 68.22% 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 small growth in Earnings Per Share. In the last year, the EPS has grown by 0.00%.
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)0%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-80%
Revenue 1Y (TTM)-2.23%
Revenue growth 3Y1.27%
Revenue growth 5Y-2.72%
Sales Q2Q%-3.93%
3.2 Future
BDN is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 19.71% yearly.
BDN is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.05% yearly.
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
The Price/Earnings Ratio is negative for BDN. In the last year negative earnings were reported.
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
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of BDN indicates a somewhat cheap valuation: BDN is cheaper than 75.19% of the companies listed in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of BDN indicates a somewhat cheap valuation: BDN is cheaper than 74.42% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 27.2 | ||
| EV/EBITDA | 11.14 |
4.3 Compensation for Growth
A more expensive valuation may be justified as BDN's earnings are expected to grow with 19.71% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y19.71%
EPS Next 3YN/A
5. Dividend
5.1 Amount
BDN has a Yearly Dividend Yield of 13.76%, which is a nice return.
Compared to an average industry Dividend Yield of 6.69, BDN pays a better dividend. On top of this BDN pays more dividend than 95.35% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.38, BDN pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 13.76% |
5.2 History
The dividend of BDN decreases each year by -4.40%.
BDN has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)-4.4%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
BDN has negative earnings and hence a negative payout ratio. The dividend may be in danger.
DP-50.39%
EPS Next 2Y19.71%
EPS Next 3YN/A
4.46
+0.1 (+2.29%)
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-3.59%
Ins Owners2.68%
Ins Owner Change17.25%
Market Cap771.80M
Analysts68
Price Target4.9 (9.87%)
Short Float %7.86%
Short Ratio5.54
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 13.76% |
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)0
Avg EPS beat(2)-127.24%
Min EPS beat(2)-253.61%
Max EPS beat(2)-0.88%
EPS beat(4)1
Avg EPS beat(4)-499.42%
Min EPS beat(4)-2000.99%
Max EPS beat(4)257.79%
EPS beat(8)1
Avg EPS beat(8)-449.49%
EPS beat(12)5
Avg EPS beat(12)-10.37%
EPS beat(16)7
Avg EPS beat(16)55.84%
Revenue beat(2)0
Avg Revenue beat(2)-1.79%
Min Revenue beat(2)-3.27%
Max Revenue beat(2)-0.32%
Revenue beat(4)0
Avg Revenue beat(4)-1.83%
Min Revenue beat(4)-3.27%
Max Revenue beat(4)-0.32%
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)0%
PT rev (3m)-5.77%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-38.89%
EPS NY rev (1m)0%
EPS NY rev (3m)-35%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.72%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.2%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | N/A | ||
| P/S | 1.54 | ||
| P/FCF | 27.2 | ||
| P/OCF | 4.72 | ||
| P/B | 0.78 | ||
| P/tB | 0.78 | ||
| EV/EBITDA | 11.14 |
EPS(TTM)-1.22
EYN/A
EPS(NY)-0.65
Fwd EYN/A
FCF(TTM)0.16
FCFY3.68%
OCF(TTM)0.95
OCFY21.2%
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 | -0.46 |
F-Score3
WACC7.3%
ROIC/WACC0.29
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)0%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-80%
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%-3.93%
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%