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. While FCPT is still in line with the averages on profitability rating, there are concerns on its financial health. FCPT is valied quite expensively at the moment, while it does show a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year FCPT was profitable.
In the past year FCPT had a positive cash flow from operations.
FCPT had positive earnings in each of the past 5 years.
FCPT had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
The Return On Assets of FCPT (3.78%) is better than 63.33% of its industry peers.
With a decent Return On Equity value of 7.17%, FCPT is doing good in the industry, outperforming 70.00% of the companies in the same industry.
With a Return On Invested Capital value of 4.54%, FCPT perfoms like the industry average, outperforming 56.67% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for FCPT is in line with the industry average of 5.28%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.78% | ||
| ROE | 7.17% | ||
| ROIC | 4.54% |
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
The Profit Margin of FCPT (37.57%) is better than 90.00% of its industry peers.
In the last couple of years the Profit Margin of FCPT has declined.
Looking at the Operating Margin, with a value of 55.52%, FCPT belongs to the top of the industry, outperforming 86.67% of the companies in the same industry.
FCPT's Operating Margin has declined in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 55.52% | ||
| PM (TTM) | 37.57% | ||
| 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
FCPT 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 FCPT has been increased compared to 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
FCPT has an Altman-Z score of 1.47. This is a bad value and indicates that FCPT is not financially healthy and even has some risk of bankruptcy.
FCPT's Altman-Z score of 1.47 is fine compared to the rest of the industry. FCPT outperforms 66.67% of its industry peers.
A Debt/Equity ratio of 0.84 indicates that FCPT is somewhat dependend on debt financing.
FCPT's Debt to Equity ratio of 0.84 is fine compared to the rest of the industry. FCPT outperforms 63.33% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.84 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 1.47 |
ROIC/WACC0.57
WACC7.91%
2.3 Liquidity
A Current Ratio of 0.41 indicates that FCPT may have some problems paying its short term obligations.
FCPT has a Current ratio of 0.41. This is in the lower half of the industry: FCPT underperforms 70.00% of its industry peers.
FCPT has a Quick Ratio of 0.41. This is a bad value and indicates that FCPT is not financially healthy enough and could expect problems in meeting its short term obligations.
FCPT has a Quick ratio of 0.41. This is in the lower half of the industry: FCPT underperforms 70.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.41 | ||
| Quick Ratio | 0.41 |
3. Growth
3.1 Past
The earnings per share for FCPT have decreased by 0.00% in the last year.
The Earnings Per Share has been growing slightly by 0.19% on average over the past years.
Looking at the last year, FCPT shows a small growth in Revenue. The Revenue has grown by 6.21% in the last year.
Measured over the past years, FCPT shows a quite strong growth in Revenue. The Revenue has been growing by 10.85% on average per year.
EPS 1Y (TTM)0%
EPS 3Y-0.92%
EPS 5Y0.19%
EPS Q2Q%0%
Revenue 1Y (TTM)6.21%
Revenue growth 3Y10.37%
Revenue growth 5Y10.85%
Sales Q2Q%7.54%
3.2 Future
Based on estimates for the next years, FCPT will show a small growth in Earnings Per Share. The EPS will grow by 4.29% on average per year.
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.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 24.62 indicates a rather expensive valuation of FCPT.
FCPT's Price/Earnings ratio is a bit cheaper when compared to the industry. FCPT is cheaper than 76.67% of the companies in the same industry.
FCPT is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 27.50, which is the current average of the S&P500 Index.
FCPT is valuated rather expensively with a Price/Forward Earnings ratio of 22.38.
FCPT's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. FCPT is cheaper than 80.00% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 36.44. FCPT is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 24.62 | ||
| Fwd PE | 22.38 |
4.2 Price Multiples
FCPT's Enterprise Value to EBITDA is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 18.45 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates FCPT does not grow enough to justify the current Price/Earnings ratio.
PEG (NY)4.1
PEG (5Y)130.96
EPS Next 2Y4.88%
EPS Next 3Y4.29%
5. Dividend
5.1 Amount
FCPT has a Yearly Dividend Yield of 5.34%, which is a nice return.
FCPT's Dividend Yield is a higher than the industry average which is at 5.78.
FCPT's Dividend Yield is rather good when compared to the S&P500 average which is at 2.35.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.34% |
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
128.60% of the earnings are spent on dividend by FCPT. This is not a sustainable payout ratio.
The dividend of FCPT is growing, but earnings are growing more, so the dividend growth is sustainable.
DP128.6%
EPS Next 2Y4.88%
EPS Next 3Y4.29%
26.34
+0.06 (+0.23%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)
Earnings (Next)
Inst Owners105.09%
Inst Owner Change0%
Ins Owners1.19%
Ins Owner Change7.81%
Market Cap2.65B
Analysts76
Price Target30.45 (15.6%)
Short Float %5.13%
Short Ratio8.02
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.34% |
Yearly Dividend1.34
Dividend Growth(5Y)3.33%
DP128.6%
Div Incr Years3
Div Non Decr Years3
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-6.21%
Min EPS beat(2)-6.29%
Max EPS beat(2)-6.13%
EPS beat(4)0
Avg EPS beat(4)-4.75%
Min EPS beat(4)-6.29%
Max EPS beat(4)-1.96%
EPS beat(8)1
Avg EPS beat(8)-3.38%
EPS beat(12)2
Avg EPS beat(12)-2.91%
EPS beat(16)4
Avg EPS beat(16)-2.45%
Revenue beat(2)2
Avg Revenue beat(2)2.14%
Min Revenue beat(2)1.84%
Max Revenue beat(2)2.43%
Revenue beat(4)3
Avg Revenue beat(4)1.58%
Min Revenue beat(4)-0.25%
Max Revenue beat(4)2.43%
Revenue beat(8)5
Avg Revenue beat(8)0.58%
Revenue beat(12)7
Avg Revenue beat(12)0.43%
Revenue beat(16)10
Avg Revenue beat(16)0.77%
PT rev (1m)-0.48%
PT rev (3m)-1.42%
EPS NQ rev (1m)0.72%
EPS NQ rev (3m)1.09%
EPS NY rev (1m)0.18%
EPS NY rev (3m)-0.89%
Revenue NQ rev (1m)0.43%
Revenue NQ rev (3m)0.1%
Revenue NY rev (1m)0.39%
Revenue NY rev (3m)-0.71%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 24.62 | ||
| Fwd PE | 22.38 | ||
| P/S | 9.69 | ||
| P/FCF | N/A | ||
| P/OCF | 15.75 | ||
| P/B | 1.85 | ||
| P/tB | 2.02 | ||
| EV/EBITDA | 18.45 |
EPS(TTM)1.07
EY4.06%
EPS(NY)1.18
Fwd EY4.47%
FCF(TTM)-1.45
FCFYN/A
OCF(TTM)1.67
OCFY6.35%
SpS2.72
BVpS14.24
TBVpS13.05
PEG (NY)4.1
PEG (5Y)130.96
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.78% | ||
| ROE | 7.17% | ||
| ROCE | 5.74% | ||
| ROIC | 4.54% | ||
| ROICexc | 4.57% | ||
| ROICexgc | 4.83% | ||
| OM | 55.52% | ||
| PM (TTM) | 37.57% | ||
| 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 | 0.84 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 5.8 | ||
| Cap/Depr | 566.35% | ||
| Cap/Sales | 115.05% | ||
| Interest Coverage | 2.57 | ||
| Cash Conversion | 81.14% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.41 | ||
| Quick Ratio | 0.41 | ||
| Altman-Z | 1.47 |
F-Score5
WACC7.91%
ROIC/WACC0.57
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%
EPS 3Y-0.92%
EPS 5Y0.19%
EPS Q2Q%0%
EPS Next Y6%
EPS Next 2Y4.88%
EPS Next 3Y4.29%
EPS Next 5YN/A
Revenue 1Y (TTM)6.21%
Revenue growth 3Y10.37%
Revenue growth 5Y10.85%
Sales Q2Q%7.54%
Revenue Next Year10.56%
Revenue Next 2Y10.08%
Revenue Next 3Y9.96%
Revenue Next 5YN/A
EBIT growth 1Y6.91%
EBIT growth 3Y8.34%
EBIT growth 5Y8.59%
EBIT Next Year50.82%
EBIT Next 3Y22.98%
EBIT Next 5YN/A
FCF growth 1Y-13.47%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y15.81%
OCF growth 3Y5.59%
OCF growth 5Y6.6%