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CBL & ASSOCIATES PROPERTIES (CBL) Stock Fundamental Analysis

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

26.47  +0.26 (+0.99%)

Fundamental Rating

4

Overall CBL gets a fundamental rating of 4 out of 10. We evaluated CBL against 130 industry peers in the Diversified REITs industry. There are concerns on the financial health of CBL while its profitability can be described as average. CBL is valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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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.
In the past 5 years CBL always reported a positive cash flow from operatings.
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

CBL has a better Return On Assets (2.52%) than 72.31% of its industry peers.
CBL has a better Return On Equity (22.43%) than 95.38% of its industry peers.
CBL's Return On Invested Capital of 4.53% is amongst the best of the industry. CBL outperforms 84.62% of its industry peers.
The Average Return On Invested Capital over the past 3 years for CBL is in line with the industry average of 3.16%.
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

With a decent Profit Margin value of 12.53%, CBL is doing good in the industry, outperforming 64.62% of the companies in the same industry.
CBL has a Operating Margin (23.69%) which is comparable to the rest of the industry.
CBL's Operating Margin has declined in the last couple of years.
The Gross Margin of CBL (64.56%) is worse than 61.54% 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

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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.
Compared to 1 year ago, CBL has a worse debt to assets ratio.
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 0.30. This is a bad value and indicates that CBL is not financially healthy and even has some risk of bankruptcy.
CBL has a worse Altman-Z score (0.30) than 63.08% 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.
CBL's Debt to FCF ratio of 13.92 is amongst the best of the industry. CBL outperforms 86.92% of its industry peers.
A Debt/Equity ratio of 7.29 is on the high side and indicates that CBL has dependencies on debt financing.
CBL has a worse Debt to Equity ratio (7.29) than 86.15% of its industry peers.
Industry RankSector Rank
Debt/Equity 7.29
Debt/FCF 13.92
Altman-Z 0.3
ROIC/WACC0.55
WACC8.23%
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

A Current Ratio of 0.37 indicates that CBL may have some problems paying its short term obligations.
CBL has a worse Current ratio (0.37) than 83.08% of its industry peers.
A Quick Ratio of 0.37 indicates that CBL may have some problems paying its short term obligations.
CBL has a Quick ratio of 0.37. This is amonst the worse of the industry: CBL underperforms 82.31% of its industry peers.
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

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1

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 2020.37% over the past year.
Looking at the last year, CBL shows a small growth in Revenue. The Revenue has grown by 0.02% in the last year.
Measured over the past years, CBL shows a decrease in Revenue. The Revenue has been decreasing by -7.68% on average per year.
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

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5

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 12.25, which indicates a correct 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 92.31% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of CBL to the average of the S&P500 Index (27.41), we can say CBL is valued rather cheaply.
Industry RankSector Rank
PE 12.25
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

CBL's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. CBL is cheaper than 80.00% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, CBL is valued cheaply inside the industry as 97.69% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 5.3
EV/EBITDA 10.73
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

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5

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 6.14%, CBL is a good candidate for dividend investing.
CBL's Dividend Yield is comparable with the industry average which is at 6.44.
CBL's Dividend Yield is rather good when compared to the S&P500 average which is at 2.35.
Industry RankSector Rank
Dividend Yield 6.14%

5.2 History

On average, the dividend of CBL grows each year by 8.62%, which is quite nice.
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

112.73% of the earnings are spent on dividend by CBL. 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

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CBL & ASSOCIATES PROPERTIES

NYSE:CBL (7/14/2025, 2:18:45 PM)

26.47

+0.26 (+0.99%)

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 Owners77.05%
Inst Owner Change0%
Ins Owners11.74%
Ins Owner Change8.09%
Market Cap818.98M
Analysts80
Price Target36.72 (38.72%)
Short Float %4.79%
Short Ratio9.61
Dividend
Industry RankSector Rank
Dividend Yield 6.14%
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 12.25
Fwd PE N/A
P/S 1.55
P/FCF 5.3
P/OCF 4.03
P/B 2.78
P/tB 6.44
EV/EBITDA 10.73
EPS(TTM)2.16
EY8.16%
EPS(NY)N/A
Fwd EYN/A
FCF(TTM)4.99
FCFY18.86%
OCF(TTM)6.57
OCFY24.81%
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 0.3
F-Score5
WACC8.23%
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%