COUSINS PROPERTIES INC (CUZ) Stock Fundamental Analysis
NYSE:CUZ - New York Stock Exchange, Inc. - US2227955026 - REIT - Currency: USD
We assign a fundamental rating of 3 out of 10 to CUZ. CUZ was compared to 129 industry peers in the Diversified REITs industry. CUZ has a medium profitability rating, but doesn't score so well on its financial health evaluation. CUZ is quite expensive at the moment. It does show a decent growth rate.
1. Profitability
1.1 Basic Checks
CUZ had positive earnings in the past year.
In the past year CUZ had a positive cash flow from operations.
CUZ had positive earnings in each of the past 5 years.
CUZ had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
CUZ has a Return On Assets (0.62%) which is comparable to the rest of the industry.
Looking at the Return On Equity, with a value of 1.11%, CUZ is in line with its industry, outperforming 48.84% of the companies in the same industry.
CUZ has a worse Return On Invested Capital (1.80%) than 71.32% of its industry peers.
CUZ had an Average Return On Invested Capital over the past 3 years of 1.96%. This is in line with the industry average of 3.15%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.62% | ||
| ROE | 1.11% | ||
| ROIC | 1.8% |
ROA(3y)1.27%
ROA(5y)2.19%
ROE(3y)2.13%
ROE(5y)3.56%
ROIC(3y)1.96%
ROIC(5y)1.98%
1.3 Margins
CUZ has a Profit Margin (5.97%) which is comparable to the rest of the industry.
CUZ's Profit Margin has declined in the last couple of years.
CUZ's Operating Margin of 21.12% is in line compared to the rest of the industry. CUZ outperforms 48.06% of its industry peers.
In the last couple of years the Operating Margin of CUZ has remained more or less at the same level.
Looking at the Gross Margin, with a value of 67.86%, CUZ is in line with its industry, outperforming 54.26% of the companies in the same industry.
CUZ's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 21.12% | ||
| PM (TTM) | 5.97% | ||
| GM | 67.86% |
OM growth 3Y-4.46%
OM growth 5Y-0.64%
PM growth 3Y-47.42%
PM growth 5Y-25.18%
GM growth 3Y0.83%
GM growth 5Y0.28%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so CUZ is destroying value.
CUZ has more shares outstanding than it did 1 year ago.
The number of shares outstanding for CUZ has been increased compared to 5 years ago.
Compared to 1 year ago, CUZ has a worse debt to assets ratio.
2.2 Solvency
CUZ has an Altman-Z score of 0.74. This is a bad value and indicates that CUZ is not financially healthy and even has some risk of bankruptcy.
CUZ has a Altman-Z score of 0.74. This is in the better half of the industry: CUZ outperforms 63.57% of its industry peers.
CUZ has a Debt/Equity ratio of 0.63. This is a neutral value indicating CUZ is somewhat dependend on debt financing.
CUZ has a better Debt to Equity ratio (0.63) than 83.72% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.63 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.74 |
ROIC/WACC0.22
WACC8.13%
2.3 Liquidity
A Current Ratio of 0.79 indicates that CUZ may have some problems paying its short term obligations.
With a Current ratio value of 0.79, CUZ perfoms like the industry average, outperforming 40.31% of the companies in the same industry.
CUZ has a Quick Ratio of 0.79. This is a bad value and indicates that CUZ is not financially healthy enough and could expect problems in meeting its short term obligations.
The Quick ratio of CUZ (0.79) is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.79 | ||
| Quick Ratio | 0.79 |
3. Growth
3.1 Past
The earnings per share for CUZ have decreased strongly by -32.65% in the last year.
Measured over the past years, CUZ shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -23.78% on average per year.
Looking at the last year, CUZ shows a quite strong growth in Revenue. The Revenue has grown by 10.93% in the last year.
Measured over the past years, CUZ shows a small growth in Revenue. The Revenue has been growing by 5.44% on average per year.
EPS 1Y (TTM)-32.65%
EPS 3Y-45.66%
EPS 5Y-23.78%
EPS Q2Q%33.33%
Revenue 1Y (TTM)10.93%
Revenue growth 3Y4.3%
Revenue growth 5Y5.44%
Sales Q2Q%16.38%
3.2 Future
Based on estimates for the next years, CUZ will show a very strong growth in Earnings Per Share. The EPS will grow by 32.76% on average per year.
The Revenue is expected to grow by 3.49% on average over the next years.
EPS Next Y47.01%
EPS Next 2Y24.9%
EPS Next 3Y32.76%
EPS Next 5YN/A
Revenue Next Year13.64%
Revenue Next 2Y8.8%
Revenue Next 3Y7.4%
Revenue Next 5Y3.49%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 92.00, CUZ can be considered very expensive at the moment.
CUZ's Price/Earnings ratio is in line with the industry average.
Compared to an average S&P500 Price/Earnings ratio of 26.32, CUZ is valued quite expensively.
The Price/Forward Earnings ratio is 64.88, which means the current valuation is very expensive for CUZ.
CUZ's Price/Forward Earnings is on the same level as the industry average.
When comparing the Price/Forward Earnings ratio of CUZ to the average of the S&P500 Index (22.13), we can say CUZ is valued expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 92 | ||
| Fwd PE | 64.88 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of CUZ is on the same level as its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 14.14 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
CUZ's earnings are expected to grow with 32.76% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.96
PEG (5Y)N/A
EPS Next 2Y24.9%
EPS Next 3Y32.76%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 4.21%, CUZ is a good candidate for dividend investing.
CUZ's Dividend Yield is slightly below the industry average, which is at 6.77.
Compared to an average S&P500 Dividend Yield of 2.40, CUZ pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.21% |
5.2 History
The dividend of CUZ has a limited annual growth rate of 1.52%.
CUZ has paid a dividend for at least 10 years, which is a reliable track record.
CUZ has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)1.52%
Div Incr Years0
Div Non Decr Years3
5.3 Sustainability
CUZ pays out 375.96% of its income as dividend. This is not a sustainable payout ratio.
The dividend of CUZ is growing, but earnings are growing more, so the dividend growth is sustainable.
DP375.96%
EPS Next 2Y24.9%
EPS Next 3Y32.76%
30.36
+0.29 (+0.96%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners101.61%
Inst Owner Change-0.14%
Ins Owners0.73%
Ins Owner Change1.77%
Market Cap5.10B
Analysts81.25
Price Target32.9 (8.37%)
Short Float %3.44%
Short Ratio3.82
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.21% |
Yearly Dividend1.22
Dividend Growth(5Y)1.52%
DP375.96%
Div Incr Years0
Div Non Decr Years3
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-8.55%
Min EPS beat(2)-10.89%
Max EPS beat(2)-6.2%
EPS beat(4)1
Avg EPS beat(4)-13.52%
Min EPS beat(4)-47.89%
Max EPS beat(4)10.89%
EPS beat(8)2
Avg EPS beat(8)-9.94%
EPS beat(12)5
Avg EPS beat(12)8.1%
EPS beat(16)8
Avg EPS beat(16)41.88%
Revenue beat(2)2
Avg Revenue beat(2)1.36%
Min Revenue beat(2)1.12%
Max Revenue beat(2)1.59%
Revenue beat(4)3
Avg Revenue beat(4)0.01%
Min Revenue beat(4)-2.67%
Max Revenue beat(4)1.59%
Revenue beat(8)5
Avg Revenue beat(8)-0.07%
Revenue beat(12)7
Avg Revenue beat(12)0.06%
Revenue beat(16)11
Avg Revenue beat(16)0.33%
PT rev (1m)-1.02%
PT rev (3m)-3.44%
EPS NQ rev (1m)-20.59%
EPS NQ rev (3m)-21.74%
EPS NY rev (1m)0%
EPS NY rev (3m)34.36%
Revenue NQ rev (1m)-0.23%
Revenue NQ rev (3m)2.87%
Revenue NY rev (1m)0%
Revenue NY rev (3m)2.91%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 92 | ||
| Fwd PE | 64.88 | ||
| P/S | 5.68 | ||
| P/FCF | N/A | ||
| P/OCF | 12.23 | ||
| P/B | 1.06 | ||
| P/tB | 1.1 | ||
| EV/EBITDA | 14.14 |
EPS(TTM)0.33
EY1.09%
EPS(NY)0.47
Fwd EY1.54%
FCF(TTM)-4.91
FCFYN/A
OCF(TTM)2.48
OCFY8.17%
SpS5.35
BVpS28.67
TBVpS27.68
PEG (NY)1.96
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.62% | ||
| ROE | 1.11% | ||
| ROCE | 2.28% | ||
| ROIC | 1.8% | ||
| ROICexc | 1.8% | ||
| ROICexgc | 1.84% | ||
| OM | 21.12% | ||
| PM (TTM) | 5.97% | ||
| GM | 67.86% | ||
| FCFM | N/A |
ROA(3y)1.27%
ROA(5y)2.19%
ROE(3y)2.13%
ROE(5y)3.56%
ROIC(3y)1.96%
ROIC(5y)1.98%
ROICexc(3y)1.96%
ROICexc(5y)1.98%
ROICexgc(3y)2%
ROICexgc(5y)2.03%
ROCE(3y)2.48%
ROCE(5y)2.51%
ROICexcg growth 3Y-3.01%
ROICexcg growth 5Y2.48%
ROICexc growth 3Y-2.96%
ROICexc growth 5Y2.81%
OM growth 3Y-4.46%
OM growth 5Y-0.64%
PM growth 3Y-47.42%
PM growth 5Y-25.18%
GM growth 3Y0.83%
GM growth 5Y0.28%
F-Score4
Asset Turnover0.1
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.63 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 5.29 | ||
| Cap/Depr | 325.71% | ||
| Cap/Sales | 138.19% | ||
| Interest Coverage | 1.83 | ||
| Cash Conversion | 73.04% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.79 | ||
| Quick Ratio | 0.79 | ||
| Altman-Z | 0.74 |
F-Score4
WACC8.13%
ROIC/WACC0.22
Cap/Depr(3y)183.05%
Cap/Depr(5y)207.46%
Cap/Sales(3y)75.51%
Cap/Sales(5y)82.91%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-32.65%
EPS 3Y-45.66%
EPS 5Y-23.78%
EPS Q2Q%33.33%
EPS Next Y47.01%
EPS Next 2Y24.9%
EPS Next 3Y32.76%
EPS Next 5YN/A
Revenue 1Y (TTM)10.93%
Revenue growth 3Y4.3%
Revenue growth 5Y5.44%
Sales Q2Q%16.38%
Revenue Next Year13.64%
Revenue Next 2Y8.8%
Revenue Next 3Y7.4%
Revenue Next 5Y3.49%
EBIT growth 1Y4.36%
EBIT growth 3Y-0.35%
EBIT growth 5Y4.76%
EBIT Next Year378.82%
EBIT Next 3Y74.2%
EBIT Next 5Y55.96%
FCF growth 1Y-2581.29%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y13.38%
OCF growth 3Y0.91%
OCF growth 5Y5.71%