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CBL & ASSOCIATES PROPERTIES (CBL) Stock Fundamental Analysis

NYSE:CBL - New York Stock Exchange, Inc. - US1248308785 - REIT - Currency: USD

25.45  -0.13 (-0.51%)

After market: 25.45 0 (0%)

Fundamental Rating

4

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.


Dividend Valuation Growth Profitability Health

6

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.
CBL Yearly Net Income VS EBIT VS OCF VS FCFCBL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M -400M -600M

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 RankSector 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%
CBL Yearly ROA, ROE, ROICCBL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -50 -100 -150

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 RankSector 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%
CBL Yearly Profit, Operating, Gross MarginsCBL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50 -50 -100

2

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.
CBL Yearly Shares OutstandingCBL Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M
CBL Yearly Total Debt VS Total AssetsCBL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

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 RankSector Rank
Debt/Equity 7.29
Debt/FCF 13.92
Altman-Z 0.29
ROIC/WACC0.55
WACC8.19%
CBL Yearly LT Debt VS Equity VS FCFCBL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B

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 RankSector Rank
Current Ratio 0.37
Quick Ratio 0.37
CBL Yearly Current Assets VS Current LiabilitesCBL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M

1

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.
CBL Yearly Revenue VS EstimatesCBL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B
CBL Yearly EPS VS EstimatesCBL Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2024 0 0.5 -0.5 1

5

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 RankSector Rank
PE 11.78
Fwd PE N/A
CBL Price Earnings VS Forward Price EarningsCBL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 0 0 0 0

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 RankSector Rank
P/FCF 5.1
EV/EBITDA 10.66
CBL Per share dataCBL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

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

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 RankSector 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
CBL Yearly Dividends per shareCBL Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2022 2023 2024 2025 0.5 1 1.5 2 2.5

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
CBL Yearly Income VS Free CF VS DividendCBL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M -400M -600M
CBL Dividend Payout.CBL Dividend Payout, showing the Payout Ratio.CBL Dividend Payout.PayoutRetained Earnings

CBL & ASSOCIATES PROPERTIES

NYSE:CBL (6/11/2025, 8:04:00 PM)

After market: 25.45 0 (0%)

25.45

-0.13 (-0.51%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)02-14 2025-02-14/bmo
Earnings (Next)N/A N/A
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 RankSector Rank
Dividend Yield 6.44%
Yearly Dividend1.61
Dividend Growth(5Y)8.62%
DP112.73%
Div Incr Years1
Div Non Decr Years1
Ex-Date06-13 2025-06-13 (0.4)
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 RankSector 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 RankSector 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 RankSector 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%