FIRST INDUSTRIAL REALTY TR (FR) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:FR - US32054K1034 - REIT
58.58 USD
+1.36 (+2.38%)
58.58 USD
0 (0%)
Taking everything into account, FR scores 5 out of 10 in our fundamental rating. FR was compared to 128 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 quite expensive at the moment. It does show a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year FR was profitable.
In the past year FR had a positive cash flow from operations.
In the past 5 years FR has always been profitable.
Each year in the past 5 years FR had a positive operating cash flow.
1.2 Ratios
FR has a Return On Assets of 4.30%. This is amongst the best in the industry. FR outperforms 85.94% of its industry peers.
FR has a better Return On Equity (8.93%) than 82.03% of its industry peers.
FR has a Return On Invested Capital of 4.56%. This is amongst the best in the industry. FR outperforms 88.28% 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 3.05%.
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
With an excellent Profit Margin value of 33.16%, FR belongs to the best of the industry, outperforming 85.94% of the companies in the same industry.
In the last couple of years the Profit Margin of FR has declined.
FR has a better Operating Margin (42.39%) than 87.50% of its industry peers.
In the last couple of years the Operating Margin of FR has grown nicely.
FR's Gross Margin of 73.70% is fine compared to the rest of the industry. FR outperforms 67.19% of its industry peers.
FR's Gross Margin has been stable in the last couple of years.
| 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.
Compared to 5 years ago, FR has more shares outstanding
FR has a better debt/assets ratio than last year.
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 Altman-Z score of 1.95. This is amongst the best in the industry. FR outperforms 94.53% of its industry peers.
FR has a Debt/Equity ratio of 0.91. This is a neutral value indicating FR is somewhat dependend on debt financing.
FR's Debt to Equity ratio of 0.91 is fine compared to the rest of the industry. FR outperforms 67.19% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.91 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 1.95 |
ROIC/WACC0.61
WACC7.52%
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.
The Current ratio of FR (0.83) is comparable to the rest of the industry.
A Quick Ratio of 0.83 indicates that FR may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.83, FR is in line with its industry, outperforming 44.53% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.83 | ||
| Quick Ratio | 0.83 |
3. Growth
3.1 Past
The earnings per share for FR have decreased strongly by -23.18% in the last year.
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%.
The Revenue has been growing by 9.47% on average over the past years. This is quite good.
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
The Earnings Per Share is expected to grow by 0.96% on average over the next years.
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
With a Price/Earnings ratio of 32.73, FR can be considered very expensive at the moment.
Compared to the rest of the industry, the Price/Earnings ratio of FR indicates a somewhat cheap valuation: FR is cheaper than 60.16% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 26.29. FR is valued slightly more expensive when compared to this.
A Price/Forward Earnings ratio of 31.77 indicates a quite expensive valuation of FR.
Based on the Price/Forward Earnings ratio, FR is valued a bit cheaper than 74.22% of the companies in the same industry.
FR is valuated rather expensively when we compare the Price/Forward Earnings ratio to 23.51, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 32.73 | ||
| Fwd PE | 31.77 |
4.2 Price Multiples
82.81% of the companies in the same industry are cheaper than FR, based on the Enterprise Value to EBITDA ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 20.26 |
4.3 Compensation for Growth
The excellent profitability rating of FR may justify a higher PE ratio.
A cheap valuation may be justified as FR's earnings are expected to decrease with -3.53% in the coming years.
PEG (NY)N/A
PEG (5Y)10.89
EPS Next 2Y-8.04%
EPS Next 3Y-3.53%
5. Dividend
5.1 Amount
FR has a Yearly Dividend Yield of 3.14%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 6.59, FR is paying slightly less dividend.
Compared to an average S&P500 Dividend Yield of 2.31, FR pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.14% |
5.2 History
The dividend of FR is nicely growing with an annual growth rate of 9.58%!
FR has paid a dividend for at least 10 years, which is 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
93.28% of the earnings are spent on dividend by FR. This is not a sustainable payout ratio.
FR's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP93.28%
EPS Next 2Y-8.04%
EPS Next 3Y-3.53%
58.58
+1.36 (+2.38%)
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 Change0%
Market Cap7.76B
Revenue(TTM)714.25M
Net Income(TTM)236.85M
Analysts75.56
Price Target60.88 (3.93%)
Short Float %2.27%
Short Ratio3.11
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.14% |
Yearly Dividend1.46
Dividend Growth(5Y)9.58%
DP93.28%
Div Incr Years11
Div Non Decr Years11
Ex-Date
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)42.3%
EPS beat(12)11
Avg EPS beat(12)53.16%
EPS beat(16)15
Avg EPS beat(16)82.15%
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)-2.42%
Revenue beat(12)2
Avg Revenue beat(12)-1.74%
Revenue beat(16)4
Avg Revenue beat(16)-1.41%
PT rev (1m)1.6%
PT rev (3m)6.72%
EPS NQ rev (1m)0.2%
EPS NQ rev (3m)5.02%
EPS NY rev (1m)-1.05%
EPS NY rev (3m)4.75%
Revenue NQ rev (1m)-0.41%
Revenue NQ rev (3m)0.12%
Revenue NY rev (1m)-0.31%
Revenue NY rev (3m)0.19%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 32.73 | ||
| Fwd PE | 31.77 | ||
| P/S | 10.86 | ||
| P/FCF | N/A | ||
| P/OCF | 18.65 | ||
| P/B | 2.93 | ||
| P/tB | 2.93 | ||
| EV/EBITDA | 20.26 |
EPS(TTM)1.79
EY3.06%
EPS(NY)1.84
Fwd EY3.15%
FCF(TTM)-0.4
FCFYN/A
OCF(TTM)3.14
OCFY5.36%
SpS5.39
BVpS20.02
TBVpS20.02
PEG (NY)N/A
PEG (5Y)10.89
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
WACC7.52%
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 3Y30.99%
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.
Can you provide the valuation status for FIRST INDUSTRIAL REALTY TR?
ChartMill assigns a valuation rating of 2 / 10 to FIRST INDUSTRIAL REALTY TR (FR). This can be considered as Overvalued.
How profitable is FIRST INDUSTRIAL REALTY TR (FR) stock?
FIRST INDUSTRIAL REALTY TR (FR) has a profitability rating of 8 / 10.
What is the valuation of FIRST INDUSTRIAL REALTY TR based on its PE and PB ratios?
The Price/Earnings (PE) ratio for FIRST INDUSTRIAL REALTY TR (FR) is 32.73 and the Price/Book (PB) ratio is 2.93.
How sustainable is the dividend of FIRST INDUSTRIAL REALTY TR (FR) stock?
The dividend rating of FIRST INDUSTRIAL REALTY TR (FR) is 5 / 10 and the dividend payout ratio is 93.28%.