SAUL CENTERS INC (BFS) Stock Fundamental Analysis
USA - NYSE:BFS - US8043951016 - REIT
30.9 USD
+0.33 (+1.08%)
30.9 USD
0 (0%)
We assign a fundamental rating of 4 out of 10 to BFS. BFS was compared to 127 industry peers in the Diversified REITs industry. BFS has an excellent profitability rating, but there are concerns on its financial health. BFS does not seem to be growing, but still is valued expensively.
1. Profitability
1.1 Basic Checks
In the past year BFS was profitable.
BFS had a positive operating cash flow in the past year.
In the past 5 years BFS has always been profitable.
Each year in the past 5 years BFS had a positive operating cash flow.
1.2 Ratios
BFS has a Return On Assets (1.49%) which is in line with its industry peers.
BFS has a Return On Equity of 9.89%. This is amongst the best in the industry. BFS outperforms 88.19% of its industry peers.
BFS has a Return On Invested Capital of 4.56%. This is amongst the best in the industry. BFS outperforms 88.19% of its industry peers.
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 3.04%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.49% | ||
| ROE | 9.89% | ||
| ROIC | 4.56% |
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 (11.44%) than 61.42% of its industry peers.
In the last couple of years the Profit Margin of BFS has remained more or less at the same level.
BFS has a Operating Margin of 42.82%. This is amongst the best in the industry. BFS outperforms 88.19% of its industry peers.
BFS's Operating Margin has been stable in the last couple of years.
BFS's Gross Margin of 72.10% is fine compared to the rest of the industry. BFS outperforms 65.35% of its industry peers.
BFS's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 42.82% | ||
| PM (TTM) | 11.44% | ||
| GM | 72.1% |
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
BFS has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for BFS has been increased compared to 1 year ago.
The number of shares outstanding for BFS has been increased compared to 5 years ago.
Compared to 1 year ago, BFS has a worse debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 0.34, we must say that BFS is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of BFS (0.34) is worse than 62.20% of its industry peers.
BFS has a Debt/Equity ratio of 4.85. This is a high value indicating a heavy dependency on external financing.
BFS's Debt to Equity ratio of 4.85 is on the low side compared to the rest of the industry. BFS is outperformed by 84.25% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 4.85 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.34 |
ROIC/WACC0.8
WACC5.72%
2.3 Liquidity
A Current Ratio of 0.84 indicates that BFS may have some problems paying its short term obligations.
BFS has a Current ratio (0.84) which is in line with its industry peers.
A Quick Ratio of 0.84 indicates that BFS may have some problems paying its short term obligations.
BFS's Quick ratio of 0.84 is in line compared to the rest of the industry. BFS outperforms 45.67% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.84 | ||
| Quick Ratio | 0.84 |
3. Growth
3.1 Past
BFS shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -26.82%.
The Earnings Per Share has been growing slightly by 0.81% on average over the past years.
The Revenue has been growing slightly by 5.17% in the past year.
The Revenue has been growing slightly by 2.99% on average over the past years.
EPS 1Y (TTM)-26.82%
EPS 3Y1.35%
EPS 5Y0.81%
EPS Q2Q%-34.58%
Revenue 1Y (TTM)5.17%
Revenue growth 3Y3.97%
Revenue growth 5Y2.99%
Sales Q2Q%5.87%
3.2 Future
BFS is expected to show a very negative growth in Earnings Per Share. In the coming years, the EPS will decrease by -17.08% yearly.
Based on estimates for the next years, BFS will show a small growth in Revenue. The Revenue will grow by 6.26% on average per year.
EPS Next Y-34.94%
EPS Next 2Y-29.15%
EPS Next 3Y-17.08%
EPS Next 5YN/A
Revenue Next Year5.46%
Revenue Next 2Y5.18%
Revenue Next 3Y6.26%
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.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 18.96 indicates a rather expensive valuation of BFS.
85.83% of the companies in the same industry are more expensive than BFS, based on the Price/Earnings ratio.
BFS's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.77.
Based on the Price/Forward Earnings ratio of 37.77, the valuation of BFS can be described as expensive.
Based on the Price/Forward Earnings ratio, BFS is valued a bit cheaper than the industry average as 67.72% of the companies are valued more expensively.
Compared to an average S&P500 Price/Forward Earnings ratio of 23.23, BFS is valued quite expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.96 | ||
| Fwd PE | 37.77 |
4.2 Price Multiples
BFS's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. BFS is cheaper than 62.99% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 13.2 |
4.3 Compensation for Growth
The decent profitability rating of BFS may justify a higher PE ratio.
A cheap valuation may be justified as BFS's earnings are expected to decrease with -17.08% in the coming years.
PEG (NY)N/A
PEG (5Y)23.52
EPS Next 2Y-29.15%
EPS Next 3Y-17.08%
5. Dividend
5.1 Amount
BFS has a Yearly Dividend Yield of 7.88%, which is a nice return.
Compared to an average industry Dividend Yield of 6.23, BFS pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.36, BFS pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.88% |
5.2 History
The dividend of BFS has a limited annual growth rate of 1.15%.
BFS has been paying a dividend for at least 10 years, so it has a reliable track record.
BFS has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)1.15%
Div Incr Years0
Div Non Decr Years14
5.3 Sustainability
BFS pays out 213.93% 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.
DP213.93%
EPS Next 2Y-29.15%
EPS Next 3Y-17.08%
30.9
+0.33 (+1.08%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners46.39%
Inst Owner Change0.08%
Ins Owners49.78%
Ins Owner Change14.62%
Market Cap753.03M
Revenue(TTM)278.85M
Net Income(TTM)31.90M
Analysts80
Price Target46.41 (50.19%)
Short Float %1.36%
Short Ratio2.65
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.88% |
Yearly Dividend2.81
Dividend Growth(5Y)1.15%
DP213.93%
Div Incr Years0
Div Non Decr Years14
Ex-Date
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
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)0.27%
Min Revenue beat(2)-1.45%
Max Revenue beat(2)1.99%
Revenue beat(4)2
Avg Revenue beat(4)-0.16%
Min Revenue beat(4)-2.45%
Max Revenue beat(4)1.99%
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)-6.19%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-39.47%
EPS NY rev (1m)0.96%
EPS NY rev (3m)-25.53%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-2.46%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.79%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.96 | ||
| Fwd PE | 37.77 | ||
| P/S | 2.7 | ||
| P/FCF | N/A | ||
| P/OCF | 6.71 | ||
| P/B | 2.34 | ||
| P/tB | 2.34 | ||
| EV/EBITDA | 13.2 |
EPS(TTM)1.63
EY5.28%
EPS(NY)0.82
Fwd EY2.65%
FCF(TTM)-1.7
FCFYN/A
OCF(TTM)4.6
OCFY14.9%
SpS11.44
BVpS13.23
TBVpS13.23
PEG (NY)N/A
PEG (5Y)23.52
Graham Number22.03
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.49% | ||
| ROE | 9.89% | ||
| ROCE | 5.77% | ||
| ROIC | 4.56% | ||
| ROICexc | 4.57% | ||
| ROICexgc | 4.58% | ||
| OM | 42.82% | ||
| PM (TTM) | 11.44% | ||
| GM | 72.1% | ||
| 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%
ROICexgc growth 3Y-2.38%
ROICexgc 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-Score5
Asset Turnover0.13
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 4.85 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 8.97 | ||
| Cap/Depr | 278.65% | ||
| Cap/Sales | 55.08% | ||
| Interest Coverage | 1.99 | ||
| Cash Conversion | 64.29% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.84 | ||
| Quick Ratio | 0.84 | ||
| Altman-Z | 0.34 |
F-Score5
WACC5.72%
ROIC/WACC0.8
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)-26.82%
EPS 3Y1.35%
EPS 5Y0.81%
EPS Q2Q%-34.58%
EPS Next Y-34.94%
EPS Next 2Y-29.15%
EPS Next 3Y-17.08%
EPS Next 5YN/A
Revenue 1Y (TTM)5.17%
Revenue growth 3Y3.97%
Revenue growth 5Y2.99%
Sales Q2Q%5.87%
Revenue Next Year5.46%
Revenue Next 2Y5.18%
Revenue Next 3Y6.26%
Revenue Next 5YN/A
EBIT growth 1Y-1.27%
EBIT growth 3Y4.25%
EBIT growth 5Y2.64%
EBIT Next Year49.36%
EBIT Next 3Y19.33%
EBIT Next 5YN/A
FCF growth 1Y-0.97%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-9.07%
OCF growth 3Y0.79%
OCF growth 5Y0.99%