COPT DEFENSE PROPERTIES (CDP) Stock Fundamental Analysis
USA - NYSE:CDP - US22002T1088 - REIT
27.66 USD
-0.38 (-1.36%)
27.66 USD
0 (0%)
We assign a fundamental rating of 4 out of 10 to CDP. CDP was compared to 129 industry peers in the Diversified REITs industry. While CDP belongs to the best of the industry regarding profitability, there are concerns on its financial health. CDP is quite expensive at the moment. It does show a decent growth rate.
1. Profitability
1.1 Basic Checks
CDP had positive earnings in the past year.
CDP had positive earnings in 4 of the past 5 years.
CDP had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
With a decent Return On Assets value of 3.35%, CDP is doing good in the industry, outperforming 79.07% of the companies in the same industry.
CDP has a better Return On Equity (9.60%) than 86.82% of its industry peers.
Looking at the Return On Invested Capital, with a value of 4.34%, CDP belongs to the top of the industry, outperforming 82.17% of the companies in the same industry.
CDP had an Average Return On Invested Capital over the past 3 years of 3.83%. This is in line with the industry average of 3.01%.
The last Return On Invested Capital (4.34%) for CDP is above the 3 year average (3.83%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.35% | ||
| ROE | 9.6% | ||
| ROIC | 4.34% |
ROA(3y)1.85%
ROA(5y)1.94%
ROE(3y)4.83%
ROE(5y)5%
ROIC(3y)3.83%
ROIC(5y)3.63%
1.3 Margins
CDP has a better Profit Margin (19.15%) than 70.54% of its industry peers.
CDP's Profit Margin has declined in the last couple of years.
CDP has a Operating Margin of 29.72%. This is in the better half of the industry: CDP outperforms 62.02% of its industry peers.
In the last couple of years the Operating Margin of CDP has grown nicely.
With a Gross Margin value of 58.00%, CDP is not doing good in the industry: 70.54% of the companies in the same industry are doing better.
In the last couple of years the Gross Margin of CDP has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 29.72% | ||
| PM (TTM) | 19.15% | ||
| GM | 58% |
OM growth 3Y3.71%
OM growth 5Y2.69%
PM growth 3Y17.12%
PM growth 5Y-10.08%
GM growth 3Y1.98%
GM growth 5Y1.51%
2. Health
2.1 Basic Checks
CDP has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for CDP remains at a similar level compared to 1 year ago.
Compared to 5 years ago, CDP has more shares outstanding
CDP has a better debt/assets ratio than last year.
2.2 Solvency
CDP has an Altman-Z score of 0.65. This is a bad value and indicates that CDP is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of CDP (0.65) is better than 61.24% of its industry peers.
CDP has a Debt/Equity ratio of 1.63. This is a high value indicating a heavy dependency on external financing.
The Debt to Equity ratio of CDP (1.63) is worse than 64.34% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.63 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.65 |
ROIC/WACC0.72
WACC6.01%
2.3 Liquidity
A Current Ratio of 0.29 indicates that CDP may have some problems paying its short term obligations.
With a Current ratio value of 0.29, CDP is not doing good in the industry: 87.60% of the companies in the same industry are doing better.
CDP has a Quick Ratio of 0.29. This is a bad value and indicates that CDP is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Quick ratio value of 0.29, CDP is not doing good in the industry: 86.82% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.29 | ||
| Quick Ratio | 0.29 |
3. Growth
3.1 Past
CDP shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 222.60%, which is quite impressive.
CDP shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -6.38% yearly.
Looking at the last year, CDP shows a small growth in Revenue. The Revenue has grown by 2.95% in the last year.
The Revenue has been growing slightly by 4.25% on average over the past years.
EPS 1Y (TTM)222.6%
EPS 3Y21.84%
EPS 5Y-6.38%
EPS Q2Q%9.68%
Revenue 1Y (TTM)2.95%
Revenue growth 3Y4.27%
Revenue growth 5Y4.25%
Sales Q2Q%6.21%
3.2 Future
The Earnings Per Share is expected to grow by 6.47% on average over the next years.
CDP is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.96% yearly.
EPS Next Y7.3%
EPS Next 2Y4.9%
EPS Next 3Y6.47%
EPS Next 5YN/A
Revenue Next Year9.63%
Revenue Next 2Y7.52%
Revenue Next 3Y5.74%
Revenue Next 5Y4.96%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
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
A Price/Earnings ratio of 21.61 indicates a rather expensive valuation of CDP.
Based on the Price/Earnings ratio, CDP is valued cheaply inside the industry as 80.62% of the companies are valued more expensively.
CDP is valuated rather cheaply when we compare the Price/Earnings ratio to 27.02, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 20.44, the valuation of CDP can be described as rather expensive.
90.70% of the companies in the same industry are more expensive than CDP, based on the Price/Forward Earnings ratio.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.57, CDP is valued at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.61 | ||
| Fwd PE | 20.44 |
4.2 Price Multiples
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates CDP does not grow enough to justify the current Price/Earnings ratio.
The decent profitability rating of CDP may justify a higher PE ratio.
PEG (NY)2.96
PEG (5Y)N/A
EPS Next 2Y4.9%
EPS Next 3Y6.47%
5. Dividend
5.1 Amount
CDP has a Yearly Dividend Yield of 2.84%.
With a Dividend Yield of 2.84, CDP pays less dividend than the industry average, which is at 7.01. 84.50% of the companies listed in the same industry pay a better dividend than CDP!
Compared to an average S&P500 Dividend Yield of 2.44, CDP has a dividend comparable with the average S&P500 company.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.84% |
5.2 History
The dividend of CDP has a limited annual growth rate of 1.18%.
CDP has been paying a dividend for at least 10 years, so it has a reliable track record.
CDP has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)1.18%
Div Incr Years2
Div Non Decr Years12
5.3 Sustainability
CDP pays out 46.27% of its income as dividend. This is a bit on the high side, but may be sustainable.
CDP's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP46.27%
EPS Next 2Y4.9%
EPS Next 3Y6.47%
27.66
-0.38 (-1.36%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners110.1%
Inst Owner ChangeN/A
Ins Owners0.28%
Ins Owner Change0.83%
Market Cap3.12B
Analysts78.33
Price Target32.81 (18.62%)
Short Float %4.15%
Short Ratio5.04
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.84% |
Yearly Dividend1.17
Dividend Growth(5Y)1.18%
DP46.27%
Div Incr Years2
Div Non Decr Years12
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-3.78%
Min EPS beat(2)-7.56%
Max EPS beat(2)-0.01%
EPS beat(4)1
Avg EPS beat(4)-3.73%
Min EPS beat(4)-7.92%
Max EPS beat(4)0.58%
EPS beat(8)1
Avg EPS beat(8)-103.44%
EPS beat(12)3
Avg EPS beat(12)-51.78%
EPS beat(16)4
Avg EPS beat(16)-37.59%
Revenue beat(2)1
Avg Revenue beat(2)-0.16%
Min Revenue beat(2)-5.81%
Max Revenue beat(2)5.5%
Revenue beat(4)2
Avg Revenue beat(4)1.21%
Min Revenue beat(4)-5.81%
Max Revenue beat(4)5.5%
Revenue beat(8)4
Avg Revenue beat(8)2.21%
Revenue beat(12)8
Avg Revenue beat(12)5.77%
Revenue beat(16)12
Avg Revenue beat(16)10.28%
PT rev (1m)0%
PT rev (3m)0.97%
EPS NQ rev (1m)4.04%
EPS NQ rev (3m)1.98%
EPS NY rev (1m)1.69%
EPS NY rev (3m)-0.51%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-4.1%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-3.94%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.61 | ||
| Fwd PE | 20.44 | ||
| P/S | 4.16 | ||
| P/FCF | N/A | ||
| P/OCF | N/A | ||
| P/B | 2.09 | ||
| P/tB | 2.09 | ||
| EV/EBITDA | N/A |
EPS(TTM)1.28
EY4.63%
EPS(NY)1.35
Fwd EY4.89%
FCF(TTM)N/A
FCFYN/A
OCF(TTM)N/A
OCFYN/A
SpS6.65
BVpS13.26
TBVpS13.26
PEG (NY)2.96
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.35% | ||
| ROE | 9.6% | ||
| ROCE | 5.49% | ||
| ROIC | 4.34% | ||
| ROICexc | 4.36% | ||
| ROICexgc | 4.44% | ||
| OM | 29.72% | ||
| PM (TTM) | 19.15% | ||
| GM | 58% | ||
| FCFM | N/A |
ROA(3y)1.85%
ROA(5y)1.94%
ROE(3y)4.83%
ROE(5y)5%
ROIC(3y)3.83%
ROIC(5y)3.63%
ROICexc(3y)3.9%
ROICexc(5y)3.67%
ROICexgc(3y)3.97%
ROICexgc(5y)3.75%
ROCE(3y)4.85%
ROCE(5y)4.59%
ROICexcg growth 3Y7.88%
ROICexcg growth 5Y4.93%
ROICexc growth 3Y8.15%
ROICexc growth 5Y5.04%
OM growth 3Y3.71%
OM growth 5Y2.69%
PM growth 3Y17.12%
PM growth 5Y-10.08%
GM growth 3Y1.98%
GM growth 5Y1.51%
F-ScoreN/A
Asset Turnover0.18
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.63 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | N/A | ||
| Cash Conversion | N/A | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.29 | ||
| Quick Ratio | 0.29 | ||
| Altman-Z | 0.65 |
F-ScoreN/A
WACC6.01%
ROIC/WACC0.72
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)44.53%
Cap/Sales(5y)50.27%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)222.6%
EPS 3Y21.84%
EPS 5Y-6.38%
EPS Q2Q%9.68%
EPS Next Y7.3%
EPS Next 2Y4.9%
EPS Next 3Y6.47%
EPS Next 5YN/A
Revenue 1Y (TTM)2.95%
Revenue growth 3Y4.27%
Revenue growth 5Y4.25%
Sales Q2Q%6.21%
Revenue Next Year9.63%
Revenue Next 2Y7.52%
Revenue Next 3Y5.74%
Revenue Next 5Y4.96%
EBIT growth 1Y10.66%
EBIT growth 3Y8.14%
EBIT growth 5Y7.06%
EBIT Next Year82.9%
EBIT Next 3Y26.66%
EBIT Next 5Y20.44%
FCF growth 1Y208.01%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y19.79%
OCF growth 3Y9.93%
OCF growth 5Y7.68%