FOUR CORNERS PROPERTY TRUST (FCPT) Stock Fundamental Analysis
NYSE:FCPT - New York Stock Exchange, Inc. - US35086T1097 - REIT - Currency: USD
Overall FCPT gets a fundamental rating of 4 out of 10. We evaluated FCPT 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.
Each year in the past 5 years FCPT has been profitable.
In the past 5 years FCPT always reported a positive cash flow from operatings.
1.2 Ratios
The Return On Assets of FCPT (3.79%) is better than 66.67% of its industry peers.
Looking at the Return On Equity, with a value of 6.94%, FCPT is in the better half of the industry, outperforming 66.67% of the companies in the same industry.
FCPT has a Return On Invested Capital of 4.55%. This is comparable to the rest of the industry: FCPT outperforms 56.67% of 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 5.35%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.79% | ||
| ROE | 6.94% | ||
| ROIC | 4.55% |
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 (37.48%) is better than 86.67% of its industry peers.
FCPT's Profit Margin has declined in the last couple of years.
The Operating Margin of FCPT (55.65%) is better than 86.67% of its industry peers.
FCPT's Operating Margin has declined in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 55.65% | ||
| PM (TTM) | 37.48% | ||
| 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.
The number of shares outstanding for FCPT has been increased compared to 5 years ago.
FCPT has a better debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 1.62, 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 1.62, FCPT is in the better half of the industry, outperforming 76.67% of the companies in the same industry.
A Debt/Equity ratio of 0.79 indicates that FCPT is somewhat dependend on debt financing.
With a decent Debt to Equity ratio value of 0.79, FCPT is doing good in the industry, outperforming 76.67% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.79 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 1.62 |
ROIC/WACC0.59
WACC7.73%
2.3 Liquidity
FCPT has a Current Ratio of 0.15. 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 Current ratio of 0.15. This is amonst the worse of the industry: FCPT underperforms 86.67% of its industry peers.
FCPT has a Quick Ratio of 0.15. This is a bad value and indicates that FCPT is not financially healthy enough and could expect problems in meeting its short term obligations.
The Quick ratio of FCPT (0.15) is worse than 86.67% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.15 | ||
| Quick Ratio | 0.15 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 16.82% over the past year.
FCPT shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 0.19% yearly.
Looking at the last year, FCPT shows a small growth in Revenue. The Revenue has grown by 6.97% in the last year.
The Revenue has been growing by 10.85% on average over the past years. This is quite good.
EPS 1Y (TTM)16.82%
EPS 3Y-0.92%
EPS 5Y0.19%
EPS Q2Q%69.23%
Revenue 1Y (TTM)6.97%
Revenue growth 3Y10.37%
Revenue growth 5Y10.85%
Sales Q2Q%7.54%
3.2 Future
FCPT is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 5.45% yearly.
The Revenue is expected to grow by 10.77% on average over the next years. This is quite good.
EPS Next Y6.96%
EPS Next 2Y5.25%
EPS Next 3Y5.45%
EPS Next 5YN/A
Revenue Next Year11.35%
Revenue Next 2Y10.54%
Revenue Next 3Y10.77%
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 22.31 indicates a rather expensive valuation of FCPT.
Based on the Price/Earnings ratio, FCPT is valued a bit cheaper than the industry average as 80.00% of the companies are valued more expensively.
Compared to an average S&P500 Price/Earnings ratio of 27.75, FCPT is valued at the same level.
The Price/Forward Earnings ratio is 23.53, which indicates a rather expensive current valuation of FCPT.
Based on the Price/Forward Earnings ratio, FCPT is valued a bit cheaper than the industry average as 76.67% of the companies are valued more expensively.
When comparing the Price/Forward Earnings ratio of FCPT to the average of the S&P500 Index (20.49), we can say FCPT is valued inline with the index average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.31 | ||
| Fwd PE | 23.53 |
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 | 19.26 |
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)3.21
PEG (5Y)118.7
EPS Next 2Y5.25%
EPS Next 3Y5.45%
5. Dividend
5.1 Amount
FCPT has a Yearly Dividend Yield of 5.08%, which is a nice return.
Compared to an average industry Dividend Yield of 5.76, FCPT has a dividend in line with its industry peers.
FCPT's Dividend Yield is rather good when compared to the S&P500 average which is at 2.44.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.08% |
5.2 History
The dividend of FCPT has a limited annual growth rate of 3.33%.
FCPT has paid a dividend for at least 10 years, which is a reliable track record.
FCPT has decreased its dividend in the last 3 years.
Dividend Growth(5Y)3.33%
Div Incr Years2
Div Non Decr Years2
5.3 Sustainability
FCPT pays out 127.50% of its income as dividend. This is not a sustainable payout ratio.
The dividend of FCPT is growing, but earnings are growing more, so the dividend growth is sustainable.
DP127.5%
EPS Next 2Y5.25%
EPS Next 3Y5.45%
27.89
-0.06 (-0.21%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)
Earnings (Next)
Inst Owners100.63%
Inst Owner Change0.11%
Ins Owners1.26%
Ins Owner Change6.41%
Market Cap2.79B
Analysts76
Price Target30.89 (10.76%)
Short Float %5.77%
Short Ratio5.93
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.08% |
Yearly Dividend1.34
Dividend Growth(5Y)3.33%
DP127.5%
Div Incr Years2
Div Non Decr Years2
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-5.37%
Min EPS beat(2)-6.13%
Max EPS beat(2)-4.61%
EPS beat(4)0
Avg EPS beat(4)-4.13%
Min EPS beat(4)-6.13%
Max EPS beat(4)-1.96%
EPS beat(8)1
Avg EPS beat(8)-2.88%
EPS beat(12)2
Avg EPS beat(12)-2.63%
EPS beat(16)4
Avg EPS beat(16)-2.62%
Revenue beat(2)1
Avg Revenue beat(2)0.8%
Min Revenue beat(2)-0.25%
Max Revenue beat(2)1.84%
Revenue beat(4)3
Avg Revenue beat(4)1.42%
Min Revenue beat(4)-0.25%
Max Revenue beat(4)2.31%
Revenue beat(8)5
Avg Revenue beat(8)0.51%
Revenue beat(12)7
Avg Revenue beat(12)0.44%
Revenue beat(16)10
Avg Revenue beat(16)0.69%
PT rev (1m)1.92%
PT rev (3m)0.95%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-0.6%
EPS NY rev (1m)0%
EPS NY rev (3m)-2.09%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.05%
Revenue NY rev (1m)0.99%
Revenue NY rev (3m)2.93%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.31 | ||
| Fwd PE | 23.53 | ||
| P/S | 10.4 | ||
| P/FCF | N/A | ||
| P/OCF | 19.35 | ||
| P/B | 1.92 | ||
| P/tB | 2.1 | ||
| EV/EBITDA | 19.26 |
EPS(TTM)1.25
EY4.48%
EPS(NY)1.19
Fwd EY4.25%
FCF(TTM)-1.29
FCFYN/A
OCF(TTM)1.44
OCFY5.17%
SpS2.68
BVpS14.49
TBVpS13.25
PEG (NY)3.21
PEG (5Y)118.7
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.79% | ||
| ROE | 6.94% | ||
| ROCE | 5.76% | ||
| ROIC | 4.55% | ||
| ROICexc | 4.55% | ||
| ROICexgc | 4.83% | ||
| OM | 55.65% | ||
| PM (TTM) | 37.48% | ||
| 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-Score4
Asset Turnover0.1
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.79 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 5.59 | ||
| Cap/Depr | 500.82% | ||
| Cap/Sales | 101.84% | ||
| Interest Coverage | 2.52 | ||
| Cash Conversion | 70.75% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.15 | ||
| Quick Ratio | 0.15 | ||
| Altman-Z | 1.62 |
F-Score4
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)16.82%
EPS 3Y-0.92%
EPS 5Y0.19%
EPS Q2Q%69.23%
EPS Next Y6.96%
EPS Next 2Y5.25%
EPS Next 3Y5.45%
EPS Next 5YN/A
Revenue 1Y (TTM)6.97%
Revenue growth 3Y10.37%
Revenue growth 5Y10.85%
Sales Q2Q%7.54%
Revenue Next Year11.35%
Revenue Next 2Y10.54%
Revenue Next 3Y10.77%
Revenue Next 5YN/A
EBIT growth 1Y8.93%
EBIT growth 3Y8.34%
EBIT growth 5Y8.59%
EBIT Next Year52.77%
EBIT Next 3Y27.81%
EBIT Next 5YN/A
FCF growth 1Y26.74%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-12.72%
OCF growth 3Y5.59%
OCF growth 5Y6.6%