FOUR CORNERS PROPERTY TRUST (FCPT) Stock Fundamental Analysis
NYSE:FCPT - New York Stock Exchange, Inc. - US35086T1097 - REIT - Currency: USD
FCPT gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 30 industry peers in the Specialized REITs industry. FCPT has a medium profitability rating, but doesn't score so well on its financial health evaluation. FCPT is valied quite expensively at the moment, while it does show a decent growth rate.
1. Profitability
1.1 Basic Checks
FCPT had positive earnings in the past year.
FCPT had a positive operating cash flow in the past year.
In the past 5 years FCPT has always been profitable.
In the past 5 years FCPT always reported a positive cash flow from operatings.
1.2 Ratios
Looking at the Return On Assets, with a value of 3.83%, FCPT is in the better half of the industry, outperforming 66.67% of the companies in the same industry.
FCPT has a Return On Equity of 7.15%. This is in the better half of the industry: FCPT outperforms 70.00% of its industry peers.
FCPT has a Return On Invested Capital (4.57%) which is in line with its industry peers.
FCPT had an Average Return On Invested Capital over the past 3 years of 4.58%. This is in line with the industry average of 5.18%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.83% | ||
| ROE | 7.15% | ||
| ROIC | 4.57% |
ROA(3y)4.04%
ROA(5y)4.25%
ROE(3y)7.71%
ROE(5y)8.24%
ROIC(3y)4.58%
ROIC(5y)4.79%
1.3 Margins
With an excellent Profit Margin value of 37.87%, FCPT belongs to the best of the industry, outperforming 90.00% of the companies in the same industry.
In the last couple of years the Profit Margin of FCPT has declined.
FCPT has a better Operating Margin (55.71%) than 86.67% of its industry peers.
In the last couple of years the Operating Margin of FCPT has declined.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 55.71% | ||
| PM (TTM) | 37.87% | ||
| GM | N/A |
OM growth 3Y-1.84%
OM growth 5Y-2.04%
PM growth 3Y-4.42%
PM growth 5Y-3.73%
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), FCPT is destroying value.
FCPT has more shares outstanding than it did 1 year ago.
FCPT has more shares outstanding than it did 5 years ago.
FCPT has a better debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 1.45, we must say that FCPT is in the distress zone and has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 1.45, FCPT is in the better half of the industry, outperforming 73.33% of the companies in the same industry.
A Debt/Equity ratio of 0.81 indicates that FCPT is somewhat dependend on debt financing.
FCPT's Debt to Equity ratio of 0.81 is fine compared to the rest of the industry. FCPT outperforms 63.33% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.81 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 1.45 |
ROIC/WACC0.59
WACC7.73%
2.3 Liquidity
A Current Ratio of 0.17 indicates that FCPT may have some problems paying its short term obligations.
With a Current ratio value of 0.17, FCPT is not doing good in the industry: 86.67% of the companies in the same industry are doing better.
A Quick Ratio of 0.17 indicates that FCPT may have some problems paying its short term obligations.
FCPT has a Quick ratio of 0.17. This is amonst the worse of the industry: FCPT underperforms 86.67% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.17 | ||
| Quick Ratio | 0.17 |
3. Growth
3.1 Past
FCPT shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 0.93%.
FCPT shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 0.19% yearly.
The Revenue has been growing slightly by 6.28% in the past year.
The Revenue has been growing by 10.85% on average over the past years. This is quite good.
EPS 1Y (TTM)0.93%
EPS 3Y-0.92%
EPS 5Y0.19%
EPS Q2Q%3.7%
Revenue 1Y (TTM)6.28%
Revenue growth 3Y10.37%
Revenue growth 5Y10.85%
Sales Q2Q%9.57%
3.2 Future
The Earnings Per Share is expected to grow by 4.29% on average over the next years.
FCPT is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 9.96% yearly.
EPS Next Y6%
EPS Next 2Y4.88%
EPS Next 3Y4.29%
EPS Next 5YN/A
Revenue Next Year10.56%
Revenue Next 2Y10.08%
Revenue Next 3Y9.96%
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
Based on the Price/Earnings ratio of 23.79, the valuation of FCPT can be described as rather expensive.
Compared to the rest of the industry, the Price/Earnings ratio of FCPT indicates a somewhat cheap valuation: FCPT is cheaper than 80.00% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 26.48. FCPT is around the same levels.
Based on the Price/Forward Earnings ratio of 21.83, the valuation of FCPT can be described as rather expensive.
Based on the Price/Forward Earnings ratio, FCPT is valued a bit cheaper than the industry average as 80.00% of the companies are valued more expensively.
FCPT's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 34.04.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 23.79 | ||
| Fwd PE | 21.83 |
4.2 Price Multiples
FCPT's Enterprise Value to EBITDA ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 18 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
PEG (NY)3.96
PEG (5Y)126.55
EPS Next 2Y4.88%
EPS Next 3Y4.29%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 5.48%, FCPT is a good candidate for dividend investing.
FCPT's Dividend Yield is a higher than the industry average which is at 5.87.
FCPT's Dividend Yield is rather good when compared to the S&P500 average which is at 2.39.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.48% |
5.2 History
The dividend of FCPT has a limited annual growth rate of 3.33%.
FCPT has been paying a dividend for at least 10 years, so it has a reliable track record.
FCPT has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)3.33%
Div Incr Years3
Div Non Decr Years3
5.3 Sustainability
FCPT pays out 128.20% of its income as dividend. This is not a sustainable payout ratio.
FCPT's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP128.2%
EPS Next 2Y4.88%
EPS Next 3Y4.29%
25.69
-0.22 (-0.85%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)
Earnings (Next)
Inst Owners103.53%
Inst Owner Change-0.11%
Ins Owners1.2%
Ins Owner Change2.23%
Market Cap2.63B
Analysts76
Price Target30.02 (16.85%)
Short Float %4.78%
Short Ratio7.43
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.48% |
Yearly Dividend1.34
Dividend Growth(5Y)3.33%
DP128.2%
Div Incr Years3
Div Non Decr Years3
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-3.77%
Min EPS beat(2)-6.29%
Max EPS beat(2)-1.26%
EPS beat(4)0
Avg EPS beat(4)-4.57%
Min EPS beat(4)-6.29%
Max EPS beat(4)-1.26%
EPS beat(8)0
Avg EPS beat(8)-3.61%
EPS beat(12)2
Avg EPS beat(12)-2.64%
EPS beat(16)4
Avg EPS beat(16)-2.02%
Revenue beat(2)2
Avg Revenue beat(2)2.3%
Min Revenue beat(2)2.17%
Max Revenue beat(2)2.43%
Revenue beat(4)3
Avg Revenue beat(4)1.55%
Min Revenue beat(4)-0.25%
Max Revenue beat(4)2.43%
Revenue beat(8)6
Avg Revenue beat(8)1.19%
Revenue beat(12)7
Avg Revenue beat(12)0.56%
Revenue beat(16)10
Avg Revenue beat(16)0.65%
PT rev (1m)-1.44%
PT rev (3m)-3.29%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-0.35%
EPS NY rev (1m)0%
EPS NY rev (3m)-0.89%
Revenue NQ rev (1m)-0.18%
Revenue NQ rev (3m)0.74%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.76%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 23.79 | ||
| Fwd PE | 21.83 | ||
| P/S | 9.4 | ||
| P/FCF | N/A | ||
| P/OCF | 15.26 | ||
| P/B | 1.77 | ||
| P/tB | 1.93 | ||
| EV/EBITDA | 18 |
EPS(TTM)1.08
EY4.2%
EPS(NY)1.18
Fwd EY4.58%
FCF(TTM)-1.77
FCFYN/A
OCF(TTM)1.68
OCFY6.55%
SpS2.73
BVpS14.48
TBVpS13.29
PEG (NY)3.96
PEG (5Y)126.55
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.83% | ||
| ROE | 7.15% | ||
| ROCE | 5.78% | ||
| ROIC | 4.57% | ||
| ROICexc | 4.58% | ||
| ROICexgc | 4.82% | ||
| OM | 55.71% | ||
| PM (TTM) | 37.87% | ||
| GM | N/A | ||
| FCFM | N/A |
ROA(3y)4.04%
ROA(5y)4.25%
ROE(3y)7.71%
ROE(5y)8.24%
ROIC(3y)4.58%
ROIC(5y)4.79%
ROICexc(3y)4.61%
ROICexc(5y)4.82%
ROICexgc(3y)4.92%
ROICexgc(5y)5.13%
ROCE(3y)5.8%
ROCE(5y)6.06%
ROICexcg growth 3Y-3.23%
ROICexcg growth 5Y-3.69%
ROICexc growth 3Y-3.17%
ROICexc growth 5Y-3.96%
OM growth 3Y-1.84%
OM growth 5Y-2.04%
PM growth 3Y-4.42%
PM growth 5Y-3.73%
GM growth 3YN/A
GM growth 5YN/A
F-Score5
Asset Turnover0.1
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.81 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 5.66 | ||
| Cap/Depr | 622.95% | ||
| Cap/Sales | 126.51% | ||
| Interest Coverage | 2.65 | ||
| Cash Conversion | 81.02% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.17 | ||
| Quick Ratio | 0.17 | ||
| Altman-Z | 1.45 |
F-Score5
WACC7.73%
ROIC/WACC0.59
Cap/Depr(3y)629.03%
Cap/Depr(5y)688.48%
Cap/Sales(3y)123.56%
Cap/Sales(5y)128.03%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)0.93%
EPS 3Y-0.92%
EPS 5Y0.19%
EPS Q2Q%3.7%
EPS Next Y6%
EPS Next 2Y4.88%
EPS Next 3Y4.29%
EPS Next 5YN/A
Revenue 1Y (TTM)6.28%
Revenue growth 3Y10.37%
Revenue growth 5Y10.85%
Sales Q2Q%9.57%
Revenue Next Year10.56%
Revenue Next 2Y10.08%
Revenue Next 3Y9.96%
Revenue Next 5YN/A
EBIT growth 1Y7.09%
EBIT growth 3Y8.34%
EBIT growth 5Y8.59%
EBIT Next Year50.79%
EBIT Next 3Y22.35%
EBIT Next 5YN/A
FCF growth 1Y20.96%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y5.99%
OCF growth 3Y5.59%
OCF growth 5Y6.6%