BRIXMOR PROPERTY GROUP INC (BRX) Stock Fundamental Analysis
NYSE:BRX - New York Stock Exchange, Inc. - US11120U1051 - REIT - Currency: USD
Taking everything into account, BRX scores 4 out of 10 in our fundamental rating. BRX was compared to 129 industry peers in the Diversified REITs industry. BRX has an excellent profitability rating, but there are concerns on its financial health. While showing a medium growth rate, BRX is valued expensive at the moment.
1. Profitability
1.1 Basic Checks
BRX had positive earnings in the past year.
In the past year BRX had a positive cash flow from operations.
In the past 5 years BRX has always been profitable.
BRX had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
BRX has a better Return On Assets (4.75%) than 92.25% of its industry peers.
BRX's Return On Equity of 13.82% is amongst the best of the industry. BRX outperforms 93.80% of its industry peers.
BRX's Return On Invested Capital of 6.05% is amongst the best of the industry. BRX outperforms 96.12% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for BRX is in line with the industry average of 3.15%.
The 3 year average ROIC (4.88%) for BRX is below the current ROIC(6.05%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.75% | ||
| ROE | 13.82% | ||
| ROIC | 6.05% |
ROA(3y)3.88%
ROA(5y)3.26%
ROE(3y)11.45%
ROE(5y)9.75%
ROIC(3y)4.88%
ROIC(5y)4.52%
1.3 Margins
The Profit Margin of BRX (25.16%) is better than 79.84% of its industry peers.
In the last couple of years the Profit Margin of BRX has grown nicely.
With an excellent Operating Margin value of 36.35%, BRX belongs to the best of the industry, outperforming 80.62% of the companies in the same industry.
In the last couple of years the Operating Margin of BRX has remained more or less at the same level.
BRX has a Gross Margin of 75.27%. This is in the better half of the industry: BRX outperforms 72.09% of its industry peers.
BRX's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 36.35% | ||
| PM (TTM) | 25.16% | ||
| GM | 75.27% |
OM growth 3Y-0.02%
OM growth 5Y-0.47%
PM growth 3Y4.08%
PM growth 5Y2.36%
GM growth 3Y0.52%
GM growth 5Y0.17%
2. Health
2.1 Basic Checks
BRX has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
BRX has more shares outstanding than it did 1 year ago.
BRX has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, BRX has a worse debt to assets ratio.
2.2 Solvency
BRX has an Altman-Z score of 1.07. This is a bad value and indicates that BRX is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 1.07, BRX is in the better half of the industry, outperforming 77.52% of the companies in the same industry.
BRX has a Debt/Equity ratio of 1.73. This is a high value indicating a heavy dependency on external financing.
With a Debt to Equity ratio value of 1.73, BRX is not doing good in the industry: 67.44% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.73 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 1.07 |
ROIC/WACC0.88
WACC6.87%
2.3 Liquidity
BRX has a Current Ratio of 0.43. This is a bad value and indicates that BRX is not financially healthy enough and could expect problems in meeting its short term obligations.
BRX's Current ratio of 0.43 is on the low side compared to the rest of the industry. BRX is outperformed by 81.40% of its industry peers.
BRX has a Quick Ratio of 0.43. This is a bad value and indicates that BRX is not financially healthy enough and could expect problems in meeting its short term obligations.
The Quick ratio of BRX (0.42) is worse than 80.62% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.43 | ||
| Quick Ratio | 0.42 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 12.90% over the past year.
BRX shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 3.83% yearly.
BRX shows a strong growth in Revenue. In the last year, the Revenue has grown by 29.41%.
The Revenue has been growing slightly by 1.92% on average over the past years.
EPS 1Y (TTM)12.9%
EPS 3Y7.24%
EPS 5Y3.83%
EPS Q2Q%-20.69%
Revenue 1Y (TTM)29.41%
Revenue growth 3Y3.7%
Revenue growth 5Y1.92%
Sales Q2Q%5.56%
3.2 Future
Based on estimates for the next years, BRX will show a decrease in Earnings Per Share. The EPS will decrease by -2.47% on average per year.
The Revenue is expected to grow by 4.79% on average over the next years.
EPS Next Y-18.41%
EPS Next 2Y-5.89%
EPS Next 3Y-1.2%
EPS Next 5Y-2.47%
Revenue Next Year5.03%
Revenue Next 2Y4.72%
Revenue Next 3Y4.72%
Revenue Next 5Y4.79%
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
The Price/Earnings ratio is 23.61, which indicates a rather expensive current valuation of BRX.
BRX's Price/Earnings ratio is a bit cheaper when compared to the industry. BRX is cheaper than 76.74% of the companies in the same industry.
When comparing the Price/Earnings ratio of BRX to the average of the S&P500 Index (26.03), we can say BRX is valued inline with the index average.
BRX is valuated quite expensively with a Price/Forward Earnings ratio of 25.22.
Based on the Price/Forward Earnings ratio, BRX is valued cheaply inside the industry as 82.17% of the companies are valued more expensively.
Compared to an average S&P500 Price/Forward Earnings ratio of 21.94, BRX is valued at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 23.61 | ||
| Fwd PE | 25.22 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of BRX indicates a somewhat cheap valuation: BRX is cheaper than 61.24% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 12.77 |
4.3 Compensation for Growth
BRX has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)6.17
EPS Next 2Y-5.89%
EPS Next 3Y-1.2%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 4.40%, BRX is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 6.61, BRX is paying slightly less dividend.
Compared to an average S&P500 Dividend Yield of 2.36, BRX pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.4% |
5.2 History
The dividend of BRX decreases each year by -0.56%.
BRX has been paying a dividend for at least 10 years, so it has a reliable track record.
BRX has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)-0.56%
Div Incr Years4
Div Non Decr Years4
5.3 Sustainability
BRX pays out 82.49% of its income as dividend. This is not a sustainable payout ratio.
BRX's earnings and Dividend Rate are declining. This means the current dividend is most likely not sustainable.
DP82.49%
EPS Next 2Y-5.89%
EPS Next 3Y-1.2%
24.79
-0.78 (-3.05%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners98.31%
Inst Owner Change2.65%
Ins Owners0.39%
Ins Owner Change0.57%
Market Cap7.59B
Analysts80
Price Target30.99 (25.01%)
Short Float %4.28%
Short Ratio5.5
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.4% |
Yearly Dividend1.09
Dividend Growth(5Y)-0.56%
DP82.49%
Div Incr Years4
Div Non Decr Years4
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)11.15%
Min EPS beat(2)2.35%
Max EPS beat(2)19.95%
EPS beat(4)4
Avg EPS beat(4)18.14%
Min EPS beat(4)2.35%
Max EPS beat(4)44.96%
EPS beat(8)7
Avg EPS beat(8)14.83%
EPS beat(12)11
Avg EPS beat(12)28.62%
EPS beat(16)15
Avg EPS beat(16)36.59%
Revenue beat(2)1
Avg Revenue beat(2)0.29%
Min Revenue beat(2)-0.6%
Max Revenue beat(2)1.17%
Revenue beat(4)1
Avg Revenue beat(4)-0.51%
Min Revenue beat(4)-1.79%
Max Revenue beat(4)1.17%
Revenue beat(8)3
Avg Revenue beat(8)-0.32%
Revenue beat(12)5
Avg Revenue beat(12)-0.07%
Revenue beat(16)9
Avg Revenue beat(16)0.56%
PT rev (1m)-4.04%
PT rev (3m)-3.23%
EPS NQ rev (1m)-3.91%
EPS NQ rev (3m)-5.7%
EPS NY rev (1m)-0.51%
EPS NY rev (3m)-3.44%
Revenue NQ rev (1m)0.23%
Revenue NQ rev (3m)-0.16%
Revenue NY rev (1m)0.44%
Revenue NY rev (3m)0.74%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 23.61 | ||
| Fwd PE | 25.22 | ||
| P/S | 4.68 | ||
| P/FCF | N/A | ||
| P/OCF | 12.12 | ||
| P/B | 2.57 | ||
| P/tB | 2.57 | ||
| EV/EBITDA | 12.77 |
EPS(TTM)1.05
EY4.24%
EPS(NY)0.98
Fwd EY3.97%
FCF(TTM)-0.1
FCFYN/A
OCF(TTM)2.05
OCFY8.25%
SpS5.3
BVpS9.65
TBVpS9.65
PEG (NY)N/A
PEG (5Y)6.17
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.75% | ||
| ROE | 13.82% | ||
| ROCE | 7.66% | ||
| ROIC | 6.05% | ||
| ROICexc | 6.14% | ||
| ROICexgc | 6.15% | ||
| OM | 36.35% | ||
| PM (TTM) | 25.16% | ||
| GM | 75.27% | ||
| FCFM | N/A |
ROA(3y)3.88%
ROA(5y)3.26%
ROE(3y)11.45%
ROE(5y)9.75%
ROIC(3y)4.88%
ROIC(5y)4.52%
ROICexc(3y)4.98%
ROICexc(5y)4.66%
ROICexgc(3y)4.99%
ROICexgc(5y)4.67%
ROCE(3y)6.18%
ROCE(5y)5.73%
ROICexcg growth 3Y5.16%
ROICexcg growth 5Y4.28%
ROICexc growth 3Y5.16%
ROICexc growth 5Y4.27%
OM growth 3Y-0.02%
OM growth 5Y-0.47%
PM growth 3Y4.08%
PM growth 5Y2.36%
GM growth 3Y0.52%
GM growth 5Y0.17%
F-Score6
Asset Turnover0.19
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.73 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 5.18 | ||
| Cap/Depr | 165.73% | ||
| Cap/Sales | 40.42% | ||
| Interest Coverage | 2.77 | ||
| Cash Conversion | 63.54% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.43 | ||
| Quick Ratio | 0.42 | ||
| Altman-Z | 1.07 |
F-Score6
WACC6.87%
ROIC/WACC0.88
Cap/Depr(3y)160.08%
Cap/Depr(5y)147.91%
Cap/Sales(3y)46.34%
Cap/Sales(5y)43.12%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)12.9%
EPS 3Y7.24%
EPS 5Y3.83%
EPS Q2Q%-20.69%
EPS Next Y-18.41%
EPS Next 2Y-5.89%
EPS Next 3Y-1.2%
EPS Next 5Y-2.47%
Revenue 1Y (TTM)29.41%
Revenue growth 3Y3.7%
Revenue growth 5Y1.92%
Sales Q2Q%5.56%
Revenue Next Year5.03%
Revenue Next 2Y4.72%
Revenue Next 3Y4.72%
Revenue Next 5Y4.79%
EBIT growth 1Y29.99%
EBIT growth 3Y3.69%
EBIT growth 5Y1.45%
EBIT Next Year84.57%
EBIT Next 3Y26.81%
EBIT Next 5Y21.17%
FCF growth 1Y-364.76%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y6.29%
OCF growth 3Y4.2%
OCF growth 5Y3.39%