COLLIERS INTL GR-SUBORD VOT (CIGI) Stock Fundamental Analysis
NASDAQ:CIGI - Nasdaq - CA1946931070 - Common Stock - Currency: USD
We assign a fundamental rating of 5 out of 10 to CIGI. CIGI was compared to 64 industry peers in the Real Estate Management & Development industry. CIGI has only an average score on both its financial health and profitability. CIGI has a correct valuation and a medium growth rate.
1. Profitability
1.1 Basic Checks
In the past year CIGI was profitable.
In the past year CIGI had a positive cash flow from operations.
Of the past 5 years CIGI 4 years were profitable.
In the past 5 years CIGI always reported a positive cash flow from operatings.
1.2 Ratios
CIGI has a Return On Assets of 2.37%. This is in the better half of the industry: CIGI outperforms 71.88% of its industry peers.
Looking at the Return On Equity, with a value of 10.80%, CIGI belongs to the top of the industry, outperforming 89.06% of the companies in the same industry.
CIGI's Return On Invested Capital of 5.32% is fine compared to the rest of the industry. CIGI outperforms 76.56% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for CIGI is in line with the industry average of 5.67%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.37% | ||
| ROE | 10.8% | ||
| ROIC | 5.32% |
ROA(3y)1.58%
ROA(5y)-0.77%
ROE(3y)9.79%
ROE(5y)-5.86%
ROIC(3y)6.63%
ROIC(5y)7.32%
1.3 Margins
Looking at the Profit Margin, with a value of 2.92%, CIGI is in the better half of the industry, outperforming 71.88% of the companies in the same industry.
In the last couple of years the Profit Margin of CIGI has remained more or less at the same level.
The Operating Margin of CIGI (7.20%) is better than 71.88% of its industry peers.
In the last couple of years the Operating Margin of CIGI has declined.
CIGI has a Gross Margin of 39.89%. This is in the better half of the industry: CIGI outperforms 68.75% of its industry peers.
CIGI's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 7.2% | ||
| PM (TTM) | 2.92% | ||
| GM | 39.89% |
OM growth 3Y-8.18%
OM growth 5Y-1.54%
PM growth 3YN/A
PM growth 5Y-0.15%
GM growth 3Y1.35%
GM growth 5Y2.25%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), CIGI is destroying value.
CIGI has more shares outstanding than it did 1 year ago.
The number of shares outstanding for CIGI has been increased compared to 5 years ago.
CIGI has a better debt/assets ratio than last year.
2.2 Solvency
An Altman-Z score of 2.04 indicates that CIGI is not a great score, but indicates only limited risk for bankruptcy at the moment.
With a decent Altman-Z score value of 2.04, CIGI is doing good in the industry, outperforming 64.06% of the companies in the same industry.
CIGI has a debt to FCF ratio of 10.90. This is a negative value and a sign of low solvency as CIGI would need 10.90 years to pay back of all of its debts.
With a decent Debt to FCF ratio value of 10.90, CIGI is doing good in the industry, outperforming 70.31% of the companies in the same industry.
CIGI has a Debt/Equity ratio of 1.30. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 1.30, CIGI is doing worse than 68.75% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.3 | ||
| Debt/FCF | 10.9 | ||
| Altman-Z | 2.04 |
ROIC/WACC0.73
WACC7.3%
2.3 Liquidity
A Current Ratio of 1.17 indicates that CIGI should not have too much problems paying its short term obligations.
With a Current ratio value of 1.17, CIGI perfoms like the industry average, outperforming 43.75% of the companies in the same industry.
A Quick Ratio of 1.17 indicates that CIGI should not have too much problems paying its short term obligations.
Looking at the Quick ratio, with a value of 1.17, CIGI is in line with its industry, outperforming 45.31% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.17 | ||
| Quick Ratio | 1.17 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 15.98% over the past year.
The Earnings Per Share has been growing slightly by 4.15% on average over the past years.
CIGI shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 11.23%.
The Revenue has been growing by 9.62% on average over the past years. This is quite good.
EPS 1Y (TTM)15.98%
EPS 3Y-2.39%
EPS 5Y4.15%
EPS Q2Q%26.47%
Revenue 1Y (TTM)11.23%
Revenue growth 3Y5.65%
Revenue growth 5Y9.62%
Sales Q2Q%18.28%
3.2 Future
The Earnings Per Share is expected to grow by 15.92% on average over the next years. This is quite good.
Based on estimates for the next years, CIGI will show a quite strong growth in Revenue. The Revenue will grow by 9.11% on average per year.
EPS Next Y15.4%
EPS Next 2Y15.16%
EPS Next 3Y15.92%
EPS Next 5YN/A
Revenue Next Year13.36%
Revenue Next 2Y10.07%
Revenue Next 3Y9.11%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
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 26.28 indicates a quite expensive valuation of CIGI.
79.69% of the companies in the same industry are more expensive than CIGI, based on the Price/Earnings ratio.
When comparing the Price/Earnings ratio of CIGI to the average of the S&P500 Index (26.93), we can say CIGI is valued inline with the index average.
CIGI is valuated rather expensively with a Price/Forward Earnings ratio of 21.41.
CIGI's Price/Forward Earnings ratio is rather cheap when compared to the industry. CIGI is cheaper than 84.38% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 35.31, CIGI is valued a bit cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 26.28 | ||
| Fwd PE | 21.41 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, CIGI is valued a bit cheaper than the industry average as 75.00% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, CIGI is valued a bit cheaper than the industry average as 65.63% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 51.34 | ||
| EV/EBITDA | 16.37 |
4.3 Compensation for Growth
CIGI's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
CIGI has a very decent profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as CIGI's earnings are expected to grow with 15.92% in the coming years.
PEG (NY)1.71
PEG (5Y)6.34
EPS Next 2Y15.16%
EPS Next 3Y15.92%
5. Dividend
5.1 Amount
CIGI has a yearly dividend return of 0.20%, which is pretty low.
Compared to an average industry Dividend Yield of 3.55, CIGI pays a bit more dividend than its industry peers.
With a Dividend Yield of 0.20, CIGI pays less dividend than the S&P500 average, which is at 2.39.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.2% |
5.2 History
The dividend of CIGI is nicely growing with an annual growth rate of 24.82%!
CIGI has paid a dividend for at least 10 years, which is a reliable track record.
As CIGI did not decrease their dividend in the past 5 years, we can say the dividend looks stable.
Dividend Growth(5Y)24.82%
Div Incr Years0
Div Non Decr Years8
5.3 Sustainability
10.45% of the earnings are spent on dividend by CIGI. This is a low number and sustainable payout ratio.
CIGI's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP10.45%
EPS Next 2Y15.16%
EPS Next 3Y15.92%
162.13
+0.57 (+0.35%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryReal Estate Management & Development
Earnings (Last)
Earnings (Next)
Inst Owners77.19%
Inst Owner Change-0.47%
Ins Owners11.79%
Ins Owner Change0%
Market Cap8.24B
Analysts78.57
Price Target131.2 (-19.08%)
Short Float %1.26%
Short Ratio4.15
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.2% |
Yearly Dividend0.3
Dividend Growth(5Y)24.82%
DP10.45%
Div Incr Years0
Div Non Decr Years8
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-3.45%
Min EPS beat(2)-6.46%
Max EPS beat(2)-0.44%
EPS beat(4)0
Avg EPS beat(4)-5.21%
Min EPS beat(4)-12.31%
Max EPS beat(4)-0.44%
EPS beat(8)1
Avg EPS beat(8)-10.06%
EPS beat(12)2
Avg EPS beat(12)-10.78%
EPS beat(16)6
Avg EPS beat(16)-0.07%
Revenue beat(2)1
Avg Revenue beat(2)0.15%
Min Revenue beat(2)-2.63%
Max Revenue beat(2)2.92%
Revenue beat(4)2
Avg Revenue beat(4)-0.08%
Min Revenue beat(4)-2.63%
Max Revenue beat(4)2.92%
Revenue beat(8)2
Avg Revenue beat(8)-1.32%
Revenue beat(12)4
Avg Revenue beat(12)-0.98%
Revenue beat(16)8
Avg Revenue beat(16)4.12%
PT rev (1m)11.37%
PT rev (3m)-20.95%
EPS NQ rev (1m)-1.93%
EPS NQ rev (3m)-4.82%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)0.15%
Revenue NQ rev (3m)-1.2%
Revenue NY rev (1m)0.16%
Revenue NY rev (3m)0.81%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 26.28 | ||
| Fwd PE | 21.41 | ||
| P/S | 1.66 | ||
| P/FCF | 51.34 | ||
| P/OCF | 36.89 | ||
| P/B | 6.14 | ||
| P/tB | N/A | ||
| EV/EBITDA | 16.37 |
EPS(TTM)6.17
EY3.81%
EPS(NY)7.57
Fwd EY4.67%
FCF(TTM)3.16
FCFY1.95%
OCF(TTM)4.4
OCFY2.71%
SpS97.66
BVpS26.39
TBVpS-42.16
PEG (NY)1.71
PEG (5Y)6.34
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.37% | ||
| ROE | 10.8% | ||
| ROCE | 7.5% | ||
| ROIC | 5.32% | ||
| ROICexc | 5.53% | ||
| ROICexgc | 21.94% | ||
| OM | 7.2% | ||
| PM (TTM) | 2.92% | ||
| GM | 39.89% | ||
| FCFM | 3.23% |
ROA(3y)1.58%
ROA(5y)-0.77%
ROE(3y)9.79%
ROE(5y)-5.86%
ROIC(3y)6.63%
ROIC(5y)7.32%
ROICexc(3y)6.99%
ROICexc(5y)8.08%
ROICexgc(3y)42.89%
ROICexgc(5y)43.89%
ROCE(3y)9.39%
ROCE(5y)10.64%
ROICexcg growth 3Y-25.89%
ROICexcg growth 5Y-8.75%
ROICexc growth 3Y-24.66%
ROICexc growth 5Y-9.49%
OM growth 3Y-8.18%
OM growth 5Y-1.54%
PM growth 3YN/A
PM growth 5Y-0.15%
GM growth 3Y1.35%
GM growth 5Y2.25%
F-Score4
Asset Turnover0.81
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.3 | ||
| Debt/FCF | 10.9 | ||
| Debt/EBITDA | 2.94 | ||
| Cap/Depr | 26.81% | ||
| Cap/Sales | 1.27% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 37.74% | ||
| Profit Quality | 110.78% | ||
| Current Ratio | 1.17 | ||
| Quick Ratio | 1.17 | ||
| Altman-Z | 2.04 |
F-Score4
WACC7.3%
ROIC/WACC0.73
Cap/Depr(3y)36.42%
Cap/Depr(5y)36.26%
Cap/Sales(3y)1.61%
Cap/Sales(5y)1.54%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)15.98%
EPS 3Y-2.39%
EPS 5Y4.15%
EPS Q2Q%26.47%
EPS Next Y15.4%
EPS Next 2Y15.16%
EPS Next 3Y15.92%
EPS Next 5YN/A
Revenue 1Y (TTM)11.23%
Revenue growth 3Y5.65%
Revenue growth 5Y9.62%
Sales Q2Q%18.28%
Revenue Next Year13.36%
Revenue Next 2Y10.07%
Revenue Next 3Y9.11%
Revenue Next 5YN/A
EBIT growth 1Y2.93%
EBIT growth 3Y-3%
EBIT growth 5Y7.94%
EBIT Next Year65.42%
EBIT Next 3Y24.76%
EBIT Next 5YN/A
FCF growth 1Y15.87%
FCF growth 3Y4.14%
FCF growth 5Y-0.43%
OCF growth 1Y3.77%
OCF growth 3Y4.1%
OCF growth 5Y0.96%