FIRST INDUSTRIAL REALTY TR (FR) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:FR - US32054K1034 - REIT
57.9 USD
+0.63 (+1.1%)
57.9 USD
0 (0%)
Overall FR gets a fundamental rating of 5 out of 10. We evaluated FR against 127 industry peers in the Diversified REITs industry. While FR has a great profitability rating, there are quite some concerns on its financial health. FR is valied quite expensively at the moment, while it does show a decent growth rate.
1. Profitability
1.1 Basic Checks
FR had positive earnings in the past year.
FR had a positive operating cash flow in the past year.
Each year in the past 5 years FR has been profitable.
FR had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
FR's Return On Assets of 4.30% is amongst the best of the industry. FR outperforms 85.83% of its industry peers.
Looking at the Return On Equity, with a value of 8.93%, FR belongs to the top of the industry, outperforming 82.68% of the companies in the same industry.
The Return On Invested Capital of FR (4.56%) is better than 88.19% of its industry peers.
FR had an Average Return On Invested Capital over the past 3 years of 3.94%. This is in line with the industry average of 3.06%.
The 3 year average ROIC (3.94%) for FR is below the current ROIC(4.56%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.3% | ||
| ROE | 8.93% | ||
| ROIC | 4.56% |
ROA(3y)6%
ROA(5y)5.93%
ROE(3y)12.03%
ROE(5y)11.74%
ROIC(3y)3.94%
ROIC(5y)3.81%
1.3 Margins
Looking at the Profit Margin, with a value of 33.16%, FR belongs to the top of the industry, outperforming 85.83% of the companies in the same industry.
In the last couple of years the Profit Margin of FR has declined.
FR has a Operating Margin of 42.39%. This is amongst the best in the industry. FR outperforms 87.40% of its industry peers.
FR's Operating Margin has improved in the last couple of years.
The Gross Margin of FR (73.70%) is better than 66.93% of its industry peers.
In the last couple of years the Gross Margin of FR has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 42.39% | ||
| PM (TTM) | 33.16% | ||
| GM | 73.7% |
OM growth 3Y2.79%
OM growth 5Y1.77%
PM growth 3Y-8.94%
PM growth 5Y-5.16%
GM growth 3Y0.12%
GM growth 5Y0.02%
2. Health
2.1 Basic Checks
FR has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
Compared to 1 year ago, FR has about the same amount of shares outstanding.
The number of shares outstanding for FR has been increased compared to 5 years ago.
The debt/assets ratio for FR has been reduced compared to a year ago.
2.2 Solvency
An Altman-Z score of 1.95 indicates that FR is not a great score, but indicates only limited risk for bankruptcy at the moment.
FR has a better Altman-Z score (1.95) than 94.49% of its industry peers.
A Debt/Equity ratio of 0.91 indicates that FR is somewhat dependend on debt financing.
FR has a better Debt to Equity ratio (0.91) than 66.93% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.91 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 1.95 |
ROIC/WACC0.61
WACC7.5%
2.3 Liquidity
FR has a Current Ratio of 0.83. This is a bad value and indicates that FR is not financially healthy enough and could expect problems in meeting its short term obligations.
FR's Current ratio of 0.83 is in line compared to the rest of the industry. FR outperforms 44.88% of its industry peers.
A Quick Ratio of 0.83 indicates that FR may have some problems paying its short term obligations.
The Quick ratio of FR (0.83) is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.83 | ||
| Quick Ratio | 0.83 |
3. Growth
3.1 Past
FR shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -23.18%.
Measured over the past 5 years, FR shows a small growth in Earnings Per Share. The EPS has been growing by 3.01% on average per year.
FR shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 9.66%.
FR shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 9.47% yearly.
EPS 1Y (TTM)-23.18%
EPS 3Y1.58%
EPS 5Y3.01%
EPS Q2Q%-34.67%
Revenue 1Y (TTM)9.66%
Revenue growth 3Y12.03%
Revenue growth 5Y9.47%
Sales Q2Q%8.22%
3.2 Future
Based on estimates for the next years, FR will show a small growth in Earnings Per Share. The EPS will grow by 0.96% on average per year.
FR is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 8.69% yearly.
EPS Next Y-21.81%
EPS Next 2Y-8.04%
EPS Next 3Y-3.53%
EPS Next 5Y0.96%
Revenue Next Year8.78%
Revenue Next 2Y8.12%
Revenue Next 3Y7.54%
Revenue Next 5Y8.69%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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 32.35 indicates a quite expensive valuation of FR.
Compared to the rest of the industry, the Price/Earnings ratio of FR indicates a somewhat cheap valuation: FR is cheaper than 61.42% of the companies listed in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 26.60, FR is valued a bit more expensive.
With a Price/Forward Earnings ratio of 31.40, FR can be considered very expensive at the moment.
FR's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. FR is cheaper than 74.02% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 23.23, FR is valued a bit more expensive.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 32.35 | ||
| Fwd PE | 31.4 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, FR is valued more expensive than 81.89% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 20.27 |
4.3 Compensation for Growth
FR has an outstanding profitability rating, which may justify a higher PE ratio.
FR's earnings are expected to decrease with -3.53% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)10.76
EPS Next 2Y-8.04%
EPS Next 3Y-3.53%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 3.05%, FR has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 6.43, FR's dividend is way lower than its industry peers. On top of this 81.10% of the companies listed in the same industry pay a better dividend than FR!
Compared to an average S&P500 Dividend Yield of 2.00, FR pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.05% |
5.2 History
On average, the dividend of FR grows each year by 9.58%, which is quite nice.
FR has been paying a dividend for at least 10 years, so it has a reliable track record.
FR has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)9.58%
Div Incr Years11
Div Non Decr Years11
5.3 Sustainability
FR pays out 93.28% of its income as dividend. This is not a sustainable payout ratio.
The dividend of FR is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP93.28%
EPS Next 2Y-8.04%
EPS Next 3Y-3.53%
57.9
+0.63 (+1.1%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners102.86%
Inst Owner Change3.56%
Ins Owners0.36%
Ins Owner Change-5%
Market Cap7.67B
Revenue(TTM)714.25M
Net Income(TTM)236.85M
Analysts75.56
Price Target61.2 (5.7%)
Short Float %2.61%
Short Ratio3.63
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.05% |
Yearly Dividend1.46
Dividend Growth(5Y)9.58%
DP93.28%
Div Incr Years11
Div Non Decr Years11
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)13.95%
Min EPS beat(2)5.91%
Max EPS beat(2)21.98%
EPS beat(4)3
Avg EPS beat(4)16.23%
Min EPS beat(4)-6.04%
Max EPS beat(4)43.08%
EPS beat(8)7
Avg EPS beat(8)42.14%
EPS beat(12)11
Avg EPS beat(12)53.05%
EPS beat(16)15
Avg EPS beat(16)82.07%
Revenue beat(2)0
Avg Revenue beat(2)-2.28%
Min Revenue beat(2)-3.23%
Max Revenue beat(2)-1.33%
Revenue beat(4)0
Avg Revenue beat(4)-1.8%
Min Revenue beat(4)-3.23%
Max Revenue beat(4)-0.19%
Revenue beat(8)0
Avg Revenue beat(8)-2.37%
Revenue beat(12)2
Avg Revenue beat(12)-1.7%
Revenue beat(16)4
Avg Revenue beat(16)-1.39%
PT rev (1m)1.16%
PT rev (3m)6.87%
EPS NQ rev (1m)-0.4%
EPS NQ rev (3m)5.02%
EPS NY rev (1m)-1.05%
EPS NY rev (3m)5.98%
Revenue NQ rev (1m)-0.35%
Revenue NQ rev (3m)0.17%
Revenue NY rev (1m)-0.31%
Revenue NY rev (3m)0.03%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 32.35 | ||
| Fwd PE | 31.4 | ||
| P/S | 10.73 | ||
| P/FCF | N/A | ||
| P/OCF | 18.43 | ||
| P/B | 2.89 | ||
| P/tB | 2.89 | ||
| EV/EBITDA | 20.27 |
EPS(TTM)1.79
EY3.09%
EPS(NY)1.84
Fwd EY3.18%
FCF(TTM)-0.4
FCFYN/A
OCF(TTM)3.14
OCFY5.43%
SpS5.39
BVpS20.02
TBVpS20.02
PEG (NY)N/A
PEG (5Y)10.76
Graham Number28.4
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.3% | ||
| ROE | 8.93% | ||
| ROCE | 5.77% | ||
| ROIC | 4.56% | ||
| ROICexc | 4.59% | ||
| ROICexgc | 4.59% | ||
| OM | 42.39% | ||
| PM (TTM) | 33.16% | ||
| GM | 73.7% | ||
| FCFM | N/A |
ROA(3y)6%
ROA(5y)5.93%
ROE(3y)12.03%
ROE(5y)11.74%
ROIC(3y)3.94%
ROIC(5y)3.81%
ROICexc(3y)4%
ROICexc(5y)3.89%
ROICexgc(3y)4.02%
ROICexgc(5y)3.91%
ROCE(3y)4.99%
ROCE(5y)4.82%
ROICexgc growth 3Y5.91%
ROICexgc growth 5Y2.55%
ROICexc growth 3Y5.96%
ROICexc growth 5Y2.65%
OM growth 3Y2.79%
OM growth 5Y1.77%
PM growth 3Y-8.94%
PM growth 5Y-5.16%
GM growth 3Y0.12%
GM growth 5Y0.02%
F-Score6
Asset Turnover0.13
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.91 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 4.89 | ||
| Cap/Depr | 249.22% | ||
| Cap/Sales | 65.66% | ||
| Interest Coverage | 3.52 | ||
| Cash Conversion | 84.73% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.83 | ||
| Quick Ratio | 0.83 | ||
| Altman-Z | 1.95 |
F-Score6
WACC7.5%
ROIC/WACC0.61
Cap/Depr(3y)369.66%
Cap/Depr(5y)388.68%
Cap/Sales(3y)92.27%
Cap/Sales(5y)102.06%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-23.18%
EPS 3Y1.58%
EPS 5Y3.01%
EPS Q2Q%-34.67%
EPS Next Y-21.81%
EPS Next 2Y-8.04%
EPS Next 3Y-3.53%
EPS Next 5Y0.96%
Revenue 1Y (TTM)9.66%
Revenue growth 3Y12.03%
Revenue growth 5Y9.47%
Sales Q2Q%8.22%
Revenue Next Year8.78%
Revenue Next 2Y8.12%
Revenue Next 3Y7.54%
Revenue Next 5Y8.69%
EBIT growth 1Y14.27%
EBIT growth 3Y15.15%
EBIT growth 5Y11.41%
EBIT Next Year94.52%
EBIT Next 3Y31.01%
EBIT Next 5Y24.97%
FCF growth 1Y77.93%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y36.26%
OCF growth 3Y9.71%
OCF growth 5Y7.5%
FIRST INDUSTRIAL REALTY TR / FR FAQ
Can you provide the ChartMill fundamental rating for FIRST INDUSTRIAL REALTY TR?
ChartMill assigns a fundamental rating of 5 / 10 to FR.
What is the valuation status for FR stock?
ChartMill assigns a valuation rating of 2 / 10 to FIRST INDUSTRIAL REALTY TR (FR). This can be considered as Overvalued.
What is the profitability of FR stock?
FIRST INDUSTRIAL REALTY TR (FR) has a profitability rating of 8 / 10.
What are the PE and PB ratios of FIRST INDUSTRIAL REALTY TR (FR) stock?
The Price/Earnings (PE) ratio for FIRST INDUSTRIAL REALTY TR (FR) is 32.35 and the Price/Book (PB) ratio is 2.89.
Can you provide the dividend sustainability for FR stock?
The dividend rating of FIRST INDUSTRIAL REALTY TR (FR) is 5 / 10 and the dividend payout ratio is 93.28%.