CBL & ASSOCIATES PROPERTIES (CBL) Stock Fundamental Analysis
NYSE:CBL - New York Stock Exchange, Inc. - US1248308785 - REIT - Currency: USD
Taking everything into account, CBL scores 3 out of 10 in our fundamental rating. CBL was compared to 130 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 is valued expensive and it does not seem to be growing.
1. Profitability
1.1 Basic Checks
CBL had negative earnings in the past year.
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.
In the past 5 years CBL always reported a positive cash flow from operatings.
1.2 Ratios
With a decent Return On Assets value of 2.10%, CBL is doing good in the industry, outperforming 69.23% of the companies in the same industry.
CBL has a better Return On Equity (17.85%) than 95.38% of its industry peers.
With an excellent Return On Invested Capital value of 4.62%, CBL belongs to the best of the industry, outperforming 85.38% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for CBL is in line with the industry average of 3.19%.
The 3 year average ROIC (3.30%) for CBL is below the current ROIC(4.62%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.1% | ||
| ROE | 17.85% | ||
| ROIC | 4.62% |
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
With a decent Profit Margin value of 11.20%, CBL is doing good in the industry, outperforming 63.85% of the companies in the same industry.
With a Operating Margin value of 25.67%, CBL perfoms like the industry average, outperforming 56.92% of the companies in the same industry.
In the last couple of years the Operating Margin of CBL has declined.
With a Gross Margin value of 66.03%, CBL perfoms like the industry average, outperforming 43.85% of the companies in the same industry.
CBL's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 25.67% | ||
| PM (TTM) | 11.2% | ||
| GM | 66.03% |
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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so CBL is destroying value.
The number of shares outstanding for CBL has been reduced compared to 1 year ago.
The number of shares outstanding for CBL has been reduced compared to 5 years ago.
CBL has a worse debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 0.28, we must say that CBL is in the distress zone and has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 0.28, CBL is doing worse than 60.77% of the companies in the same industry.
CBL has a debt to FCF ratio of 13.33. This is a negative value and a sign of low solvency as CBL would need 13.33 years to pay back of all of its debts.
CBL's Debt to FCF ratio of 13.33 is amongst the best of the industry. CBL outperforms 86.15% of its industry peers.
A Debt/Equity ratio of 6.84 is on the high side and indicates that CBL has dependencies on debt financing.
Looking at the Debt to Equity ratio, with a value of 6.84, CBL is doing worse than 86.92% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 6.84 | ||
| Debt/FCF | 13.33 | ||
| Altman-Z | 0.28 |
ROIC/WACC0.56
WACC8.25%
2.3 Liquidity
CBL has a Current Ratio of 0.40. 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 0.40, CBL is doing worse than 82.31% of the companies in the same industry.
CBL has a Quick Ratio of 0.40. 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 Quick ratio, with a value of 0.40, CBL is doing worse than 81.54% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.4 | ||
| Quick Ratio | 0.4 |
3. Growth
3.1 Past
CBL shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -72.73%.
The Revenue has decreased by -3.71% in the past year.
CBL shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -6.24% yearly.
EPS 1Y (TTM)-72.73%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%235.72%
Revenue 1Y (TTM)-3.71%
Revenue growth 3Y-9.24%
Revenue growth 5Y-6.24%
Sales Q2Q%-5.74%
3.2 Future
The Earnings Per Share is expected to grow by 36.95% on average over the next years. This is a very strong growth
CBL is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -7.39% yearly.
EPS Next Y-24.54%
EPS Next 2Y-1.82%
EPS Next 3YN/A
EPS Next 5Y36.95%
Revenue Next Year-11.38%
Revenue Next 2Y-10.94%
Revenue Next 3YN/A
Revenue Next 5Y-7.39%
3.3 Evolution
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
CBL reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for CBL. No positive earnings are expected for the next year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | N/A |
4.2 Price Multiples
76.15% of the companies in the same industry are more expensive than CBL, based on the Enterprise Value to EBITDA ratio.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of CBL indicates a rather cheap valuation: CBL is cheaper than 96.92% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 4.26 | ||
| EV/EBITDA | 10.61 |
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 2Y-1.82%
EPS Next 3YN/A
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 6.84%, CBL is a good candidate for dividend investing.
CBL's Dividend Yield is a higher than the industry average which is at 16.87.
CBL's Dividend Yield is rather good when compared to the S&P500 average which is at 2.51.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.84% |
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.
The dividend of CBL decreased recently.
Dividend Growth(5Y)8.62%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
CBL pays out 87.18% of its income as dividend. This is not a sustainable payout ratio.
The dividend of CBL is growing, but earnings are growing more, so the dividend growth is sustainable.
DP87.18%
EPS Next 2Y-1.82%
EPS Next 3YN/A
NYSE:CBL (4/21/2025, 2:21:31 PM)
22.85
-0.53 (-2.27%)
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 Change0.05%
Ins Owners11.54%
Ins Owner Change6.46%
Market Cap706.98M
Analysts80
Price Target36.72 (60.7%)
Short Float %4.71%
Short Ratio6.72
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.84% |
Yearly Dividend1.61
Dividend Growth(5Y)8.62%
DP87.18%
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 | N/A | ||
| Fwd PE | N/A | ||
| P/S | 1.37 | ||
| P/FCF | 4.26 | ||
| P/OCF | 3.5 | ||
| P/B | 2.19 | ||
| P/tB | 5.16 | ||
| EV/EBITDA | 10.61 |
EPS(TTM)-0.38
EYN/A
EPS(NY)-0.39
Fwd EYN/A
FCF(TTM)5.37
FCFY23.48%
OCF(TTM)6.54
OCFY28.6%
SpS16.66
BVpS10.46
TBVpS4.43
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.1% | ||
| ROE | 17.85% | ||
| ROCE | 5.24% | ||
| ROIC | 4.62% | ||
| ROICexc | 4.7% | ||
| ROICexgc | 5.46% | ||
| OM | 25.67% | ||
| PM (TTM) | 11.2% | ||
| GM | 66.03% | ||
| FCFM | 32.2% |
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-Score6
Asset Turnover0.19
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 6.84 | ||
| Debt/FCF | 13.33 | ||
| Debt/EBITDA | 8.11 | ||
| Cap/Depr | 25.74% | ||
| Cap/Sales | 7.02% | ||
| Interest Coverage | 1.01 | ||
| Cash Conversion | 74.09% | ||
| Profit Quality | 287.43% | ||
| Current Ratio | 0.4 | ||
| Quick Ratio | 0.4 | ||
| Altman-Z | 0.28 |
F-Score6
WACC8.25%
ROIC/WACC0.56
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)-72.73%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%235.72%
EPS Next Y-24.54%
EPS Next 2Y-1.82%
EPS Next 3YN/A
EPS Next 5Y36.95%
Revenue 1Y (TTM)-3.71%
Revenue growth 3Y-9.24%
Revenue growth 5Y-6.24%
Sales Q2Q%-5.74%
Revenue Next Year-11.38%
Revenue Next 2Y-10.94%
Revenue Next 3YN/A
Revenue Next 5Y-7.39%
EBIT growth 1Y41.39%
EBIT growth 3Y1.12%
EBIT growth 5Y-9.34%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y18.04%
FCF growth 3Y7.81%
FCF growth 5Y3.53%
OCF growth 1Y10.19%
OCF growth 3Y7.21%
OCF growth 5Y-5.85%