SAUL CENTERS INC (BFS) Stock Fundamental Analysis
NYSE:BFS - New York Stock Exchange, Inc. - US8043951016 - REIT - Currency: USD
We assign a fundamental rating of 4 out of 10 to BFS. BFS was compared to 130 industry peers in the Diversified REITs industry. BFS scores excellent on profitability, but there are concerns on its financial health. BFS is valued expensive and it does not seem to be growing.
1. Profitability
1.1 Basic Checks
BFS had positive earnings in the past year.
BFS had a positive operating cash flow in the past year.
Each year in the past 5 years BFS has been profitable.
In the past 5 years BFS always reported a positive cash flow from operatings.
1.2 Ratios
BFS's Return On Assets of 1.86% is fine compared to the rest of the industry. BFS outperforms 65.38% of its industry peers.
With an excellent Return On Equity value of 11.75%, BFS belongs to the best of the industry, outperforming 92.31% of the companies in the same industry.
With an excellent Return On Invested Capital value of 4.66%, BFS belongs to the best of the industry, outperforming 86.15% of the companies in the same industry.
BFS had an Average Return On Invested Capital over the past 3 years of 4.81%. This is in line with the industry average of 3.17%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.86% | ||
| ROE | 11.75% | ||
| ROIC | 4.66% |
ROA(3y)2.02%
ROA(5y)1.99%
ROE(3y)11.13%
ROE(5y)10.12%
ROIC(3y)4.81%
ROIC(5y)4.84%
1.3 Margins
BFS has a better Profit Margin (14.63%) than 68.46% of its industry peers.
In the last couple of years the Profit Margin of BFS has remained more or less at the same level.
Looking at the Operating Margin, with a value of 44.94%, BFS belongs to the top of the industry, outperforming 89.23% of the companies in the same industry.
In the last couple of years the Operating Margin of BFS has remained more or less at the same level.
BFS has a Gross Margin of 73.28%. This is in the better half of the industry: BFS outperforms 68.46% of its industry peers.
BFS's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 44.94% | ||
| PM (TTM) | 14.63% | ||
| GM | 73.28% |
OM growth 3Y0.27%
OM growth 5Y-0.33%
PM growth 3Y-1.91%
PM growth 5Y-1.27%
GM growth 3Y-0.47%
GM growth 5Y-0.49%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), BFS is destroying value.
The number of shares outstanding for BFS has been increased compared to 1 year ago.
Compared to 5 years ago, BFS has more shares outstanding
BFS has a worse debt/assets ratio than last year.
2.2 Solvency
BFS has an Altman-Z score of 0.37. This is a bad value and indicates that BFS is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 0.37, BFS is in line with its industry, outperforming 41.54% of the companies in the same industry.
BFS has a Debt/Equity ratio of 4.56. This is a high value indicating a heavy dependency on external financing.
BFS's Debt to Equity ratio of 4.56 is on the low side compared to the rest of the industry. BFS is outperformed by 84.62% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 4.56 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.37 |
ROIC/WACC0.76
WACC6.09%
2.3 Liquidity
A Current Ratio of 0.88 indicates that BFS may have some problems paying its short term obligations.
With a Current ratio value of 0.88, BFS perfoms like the industry average, outperforming 49.23% of the companies in the same industry.
BFS has a Quick Ratio of 0.88. This is a bad value and indicates that BFS is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 0.88, BFS is in line with its industry, outperforming 50.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.88 | ||
| Quick Ratio | 0.88 |
3. Growth
3.1 Past
The earnings per share for BFS have decreased by -5.62% in the last year.
The Earnings Per Share has been growing slightly by 0.81% on average over the past years.
BFS shows a small growth in Revenue. In the last year, the Revenue has grown by 4.64%.
Measured over the past years, BFS shows a small growth in Revenue. The Revenue has been growing by 2.99% on average per year.
EPS 1Y (TTM)-5.62%
EPS 3Y1.35%
EPS 5Y0.81%
EPS Q2Q%-49.4%
Revenue 1Y (TTM)4.64%
Revenue growth 3Y3.97%
Revenue growth 5Y2.99%
Sales Q2Q%1.29%
3.2 Future
Based on estimates for the next years, BFS will show a very negative growth in Earnings Per Share. The EPS will decrease by -10.25% on average per year.
Based on estimates for the next years, BFS will show a small growth in Revenue. The Revenue will grow by 6.54% on average per year.
EPS Next Y-12.63%
EPS Next 2Y-10.25%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year6.31%
Revenue Next 2Y6.54%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
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
With a Price/Earnings ratio of 19.90, BFS is valued on the expensive side.
Based on the Price/Earnings ratio, BFS is valued a bit cheaper than 73.08% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 28.88. BFS is valued slightly cheaper when compared to this.
BFS is valuated rather expensively with a Price/Forward Earnings ratio of 22.77.
86.15% of the companies in the same industry are more expensive than BFS, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of BFS to the average of the S&P500 Index (21.20), we can say BFS is valued inline with the index average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.9 | ||
| Fwd PE | 22.77 |
4.2 Price Multiples
BFS's Enterprise Value to EBITDA ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 13.47 |
4.3 Compensation for Growth
The decent profitability rating of BFS may justify a higher PE ratio.
BFS's earnings are expected to decrease with -10.25% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)24.68
EPS Next 2Y-10.25%
EPS Next 3YN/A
5. Dividend
5.1 Amount
BFS has a Yearly Dividend Yield of 7.24%, which is a nice return.
BFS's Dividend Yield is a higher than the industry average which is at 16.29.
Compared to an average S&P500 Dividend Yield of 2.45, BFS pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.24% |
5.2 History
The dividend of BFS has a limited annual growth rate of 1.15%.
BFS has paid a dividend for at least 10 years, which is a reliable track record.
BFS has decreased its dividend recently.
Dividend Growth(5Y)1.15%
Div Incr Years0
Div Non Decr Years1
5.3 Sustainability
BFS pays out 172.57% of its income as dividend. This is not a sustainable payout ratio.
The Dividend Rate of BFS has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.
DP172.57%
EPS Next 2Y-10.25%
EPS Next 3YN/A
NYSE:BFS (5/1/2025, 10:13:33 AM)
32.43
-0.27 (-0.83%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners46.53%
Inst Owner Change0.26%
Ins Owners48.44%
Ins Owner Change4%
Market Cap784.81M
Analysts80
Price Target47.94 (47.83%)
Short Float %0.99%
Short Ratio2.19
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.24% |
Yearly Dividend2.81
Dividend Growth(5Y)1.15%
DP172.57%
Div Incr Years0
Div Non Decr Years1
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-8.44%
Min EPS beat(2)-27.39%
Max EPS beat(2)10.52%
EPS beat(4)3
Avg EPS beat(4)6.35%
Min EPS beat(4)-27.39%
Max EPS beat(4)21.86%
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)-0.59%
Min Revenue beat(2)-2.45%
Max Revenue beat(2)1.28%
Revenue beat(4)3
Avg Revenue beat(4)0.8%
Min Revenue beat(4)-2.45%
Max Revenue beat(4)2.99%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)9.68%
EPS NY rev (1m)0%
EPS NY rev (3m)3.68%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)2.01%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.9 | ||
| Fwd PE | 22.77 | ||
| P/S | 2.91 | ||
| P/FCF | N/A | ||
| P/OCF | 6.47 | ||
| P/B | 2.34 | ||
| P/tB | 2.34 | ||
| EV/EBITDA | 13.47 |
EPS(TTM)1.63
EY5.03%
EPS(NY)1.42
Fwd EY4.39%
FCF(TTM)-2.8
FCFYN/A
OCF(TTM)5.01
OCFY15.45%
SpS11.14
BVpS13.87
TBVpS13.87
PEG (NY)N/A
PEG (5Y)24.68
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.86% | ||
| ROE | 11.75% | ||
| ROCE | 5.89% | ||
| ROIC | 4.66% | ||
| ROICexc | 4.68% | ||
| ROICexgc | 4.71% | ||
| OM | 44.94% | ||
| PM (TTM) | 14.63% | ||
| GM | 73.28% | ||
| FCFM | N/A |
ROA(3y)2.02%
ROA(5y)1.99%
ROE(3y)11.13%
ROE(5y)10.12%
ROIC(3y)4.81%
ROIC(5y)4.84%
ROICexc(3y)4.84%
ROICexc(5y)4.88%
ROICexgc(3y)4.88%
ROICexgc(5y)4.91%
ROCE(3y)6.09%
ROCE(5y)6.12%
ROICexcg growth 3Y-2.38%
ROICexcg growth 5Y-2.84%
ROICexc growth 3Y-2.29%
ROICexc growth 5Y-2.91%
OM growth 3Y0.27%
OM growth 5Y-0.33%
PM growth 3Y-1.91%
PM growth 5Y-1.27%
GM growth 3Y-0.47%
GM growth 5Y-0.49%
F-Score4
Asset Turnover0.13
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 4.56 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 8.93 | ||
| Cap/Depr | 374.07% | ||
| Cap/Sales | 70.04% | ||
| Interest Coverage | 2.35 | ||
| Cash Conversion | 70.59% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.88 | ||
| Quick Ratio | 0.88 | ||
| Altman-Z | 0.37 |
F-Score4
WACC6.09%
ROIC/WACC0.76
Cap/Depr(3y)344.4%
Cap/Depr(5y)250.98%
Cap/Sales(3y)65.54%
Cap/Sales(5y)48.89%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-5.62%
EPS 3Y1.35%
EPS 5Y0.81%
EPS Q2Q%-49.4%
EPS Next Y-12.63%
EPS Next 2Y-10.25%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)4.64%
Revenue growth 3Y3.97%
Revenue growth 5Y2.99%
Sales Q2Q%1.29%
Revenue Next Year6.31%
Revenue Next 2Y6.54%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y2.57%
EBIT growth 3Y4.25%
EBIT growth 5Y2.64%
EBIT Next Year51.55%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y21.25%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y2.97%
OCF growth 3Y0.79%
OCF growth 5Y0.99%