CBL & ASSOCIATES PROPERTIES (CBL) Stock Fundamental Analysis
NYSE:CBL - New York Stock Exchange, Inc. - US1248308785 - REIT - Currency: USD
CBL gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 129 industry peers in the Diversified REITs industry. CBL has a medium profitability rating, but doesn't score so well on its financial health evaluation. CBL has a valuation in line with the averages, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
In the past year CBL was profitable.
CBL had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: CBL reported negative net income in multiple years.
CBL had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
The Return On Assets of CBL (2.52%) is better than 72.09% of its industry peers.
Looking at the Return On Equity, with a value of 22.43%, CBL belongs to the top of the industry, outperforming 95.35% of the companies in the same industry.
CBL's Return On Invested Capital of 4.53% is amongst the best of the industry. CBL outperforms 84.50% of its industry peers.
CBL had an Average Return On Invested Capital over the past 3 years of 3.30%. This is in line with the industry average of 3.15%.
The 3 year average ROIC (3.30%) for CBL is below the current ROIC(4.53%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.52% | ||
| ROE | 22.43% | ||
| ROIC | 4.53% |
ROA(3y)-0.42%
ROA(5y)-5.97%
ROE(3y)-2.15%
ROE(5y)-45.2%
ROIC(3y)3.3%
ROIC(5y)3.42%
1.3 Margins
Looking at the Profit Margin, with a value of 12.53%, CBL is in the better half of the industry, outperforming 64.34% of the companies in the same industry.
CBL has a Operating Margin of 23.69%. This is comparable to the rest of the industry: CBL outperforms 53.49% of its industry peers.
In the last couple of years the Operating Margin of CBL has declined.
CBL has a worse Gross Margin (64.56%) than 61.24% of its industry peers.
CBL's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 23.69% | ||
| PM (TTM) | 12.53% | ||
| GM | 64.56% |
OM growth 3Y4.98%
OM growth 5Y-1.8%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.65%
GM growth 5Y-1.16%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), CBL is destroying value.
CBL has less shares outstanding than it did 1 year ago.
CBL has less shares outstanding than it did 5 years ago.
The debt/assets ratio for CBL is higher compared to a year ago.
2.2 Solvency
CBL has an Altman-Z score of 0.29. This is a bad value and indicates that CBL is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of CBL (0.29) is worse than 63.57% of its industry peers.
CBL has a debt to FCF ratio of 13.92. This is a negative value and a sign of low solvency as CBL would need 13.92 years to pay back of all of its debts.
With an excellent Debt to FCF ratio value of 13.92, CBL belongs to the best of the industry, outperforming 86.82% of the companies in the same industry.
A Debt/Equity ratio of 7.29 is on the high side and indicates that CBL has dependencies on debt financing.
CBL's Debt to Equity ratio of 7.29 is on the low side compared to the rest of the industry. CBL is outperformed by 86.82% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 7.29 | ||
| Debt/FCF | 13.92 | ||
| Altman-Z | 0.29 |
ROIC/WACC0.55
WACC8.19%
2.3 Liquidity
CBL has a Current Ratio of 0.37. This is a bad value and indicates that CBL is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 0.37, CBL is doing worse than 82.95% of the companies in the same industry.
A Quick Ratio of 0.37 indicates that CBL may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.37, CBL is doing worse than 82.17% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.37 | ||
| Quick Ratio | 0.37 |
3. Growth
3.1 Past
CBL shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 2020.37%, which is quite impressive.
The Revenue has been growing slightly by 0.02% in the past year.
CBL shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -7.68% yearly.
EPS 1Y (TTM)2020.37%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%4151.52%
Revenue 1Y (TTM)0.02%
Revenue growth 3Y-3.68%
Revenue growth 5Y-7.68%
Sales Q2Q%9.8%
3.2 Future
No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 11.78 indicates a reasonable valuation of CBL.
Compared to the rest of the industry, the Price/Earnings ratio of CBL indicates a rather cheap valuation: CBL is cheaper than 92.25% of the companies listed in the same industry.
CBL is valuated cheaply when we compare the Price/Earnings ratio to 26.55, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.78 | ||
| Fwd PE | N/A |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of CBL indicates a somewhat cheap valuation: CBL is cheaper than 79.07% of the companies listed in the same industry.
CBL's Price/Free Cash Flow ratio is rather cheap when compared to the industry. CBL is cheaper than 97.67% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 5.1 | ||
| EV/EBITDA | 10.66 |
4.3 Compensation for Growth
The decent profitability rating of CBL may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2YN/A
EPS Next 3YN/A
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 6.44%, CBL is a good candidate for dividend investing.
CBL's Dividend Yield is comparable with the industry average which is at 6.75.
Compared to an average S&P500 Dividend Yield of 2.39, CBL pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.44% |
5.2 History
The dividend of CBL is nicely growing with an annual growth rate of 8.62%!
CBL has paid a dividend for at least 10 years, which is a reliable track record.
CBL has decreased its dividend recently.
Dividend Growth(5Y)8.62%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
CBL pays out 112.73% of its income as dividend. This is not a sustainable payout ratio.
DP112.73%
EPS Next 2YN/A
EPS Next 3YN/A
25.45
-0.13 (-0.51%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners75.66%
Inst Owner Change0.29%
Ins Owners11.54%
Ins Owner Change6.52%
Market Cap787.42M
Analysts80
Price Target36.72 (44.28%)
Short Float %4.46%
Short Ratio8.57
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.44% |
Yearly Dividend1.61
Dividend Growth(5Y)8.62%
DP112.73%
Div Incr Years1
Div Non Decr Years1
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)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
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)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)N/A
EPS NY rev (3m)N/A
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)N/A
Revenue NY rev (3m)N/A
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.78 | ||
| Fwd PE | N/A | ||
| P/S | 1.49 | ||
| P/FCF | 5.1 | ||
| P/OCF | 3.88 | ||
| P/B | 2.67 | ||
| P/tB | 6.19 | ||
| EV/EBITDA | 10.66 |
EPS(TTM)2.16
EY8.49%
EPS(NY)N/A
Fwd EYN/A
FCF(TTM)4.99
FCFY19.61%
OCF(TTM)6.57
OCFY25.8%
SpS17.07
BVpS9.54
TBVpS4.11
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.52% | ||
| ROE | 22.43% | ||
| ROCE | 5.14% | ||
| ROIC | 4.53% | ||
| ROICexc | 4.59% | ||
| ROICexgc | 5.3% | ||
| OM | 23.69% | ||
| PM (TTM) | 12.53% | ||
| GM | 64.56% | ||
| FCFM | 29.24% |
ROA(3y)-0.42%
ROA(5y)-5.97%
ROE(3y)-2.15%
ROE(5y)-45.2%
ROIC(3y)3.3%
ROIC(5y)3.42%
ROICexc(3y)3.35%
ROICexc(5y)3.52%
ROICexgc(3y)3.94%
ROICexgc(5y)4.18%
ROCE(3y)3.74%
ROCE(5y)3.88%
ROICexcg growth 3Y-2.18%
ROICexcg growth 5Y4.08%
ROICexc growth 3Y2.55%
ROICexc growth 5Y1.48%
OM growth 3Y4.98%
OM growth 5Y-1.8%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.65%
GM growth 5Y-1.16%
F-Score5
Asset Turnover0.2
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 7.29 | ||
| Debt/FCF | 13.92 | ||
| Debt/EBITDA | 7.87 | ||
| Cap/Depr | 32.89% | ||
| Cap/Sales | 9.22% | ||
| Interest Coverage | 0.95 | ||
| Cash Conversion | 74.35% | ||
| Profit Quality | 233.36% | ||
| Current Ratio | 0.37 | ||
| Quick Ratio | 0.37 | ||
| Altman-Z | 0.29 |
F-Score5
WACC8.19%
ROIC/WACC0.55
Cap/Depr(3y)21.91%
Cap/Depr(5y)21.16%
Cap/Sales(3y)7.66%
Cap/Sales(5y)7.55%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)2020.37%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%4151.52%
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)0.02%
Revenue growth 3Y-3.68%
Revenue growth 5Y-7.68%
Sales Q2Q%9.8%
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y15.64%
EBIT growth 3Y1.12%
EBIT growth 5Y-9.34%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y0.75%
FCF growth 3Y7.81%
FCF growth 5Y3.53%
OCF growth 1Y2.09%
OCF growth 3Y7.21%
OCF growth 5Y-5.85%