FIRST INDUSTRIAL REALTY TR (FR) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:FR - US32054K1034 - REIT
58.89 USD
+0.56 (+0.96%)
58.89 USD
0 (0%)
We assign a fundamental rating of 5 out of 10 to FR. FR was compared to 127 industry peers in the Diversified REITs industry. FR scores excellent on profitability, but there are 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.
FR had a positive operating cash flow in the past year.
In the past 5 years FR has always been profitable.
In the past 5 years FR always reported a positive cash flow from operatings.
1.2 Ratios
The Return On Assets of FR (4.30%) is better than 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.
FR has a better Return On Invested Capital (4.56%) than 88.19% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for FR 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
FR has a Profit Margin of 33.16%. This is amongst the best in the industry. FR outperforms 85.83% of its industry peers.
In the last couple of years the Profit Margin of FR has declined.
Looking at the Operating Margin, with a value of 42.39%, FR belongs to the top of the industry, outperforming 87.40% of the companies in the same industry.
In the last couple of years the Operating Margin of FR has grown nicely.
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
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), FR 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 1.98 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 (1.98) than 94.49% 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.
The Debt to Equity ratio of FR (0.91) is better than 66.93% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.91 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 1.98 |
ROIC/WACC0.61
WACC7.53%
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 has a Current ratio of 0.83. This is comparable to the rest of the industry: FR outperforms 44.88% of its industry peers.
FR has a Quick 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 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
The earnings per share for FR have decreased strongly by -23.18% in the last year.
The Earnings Per Share has been growing slightly by 3.01% on average over the past years.
The Revenue has grown by 9.66% in the past year. This is quite good.
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
FR is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 0.96% yearly.
Based on estimates for the next years, FR will show a quite strong growth in Revenue. The Revenue will grow by 8.69% on average per year.
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
The EPS growth rate is decreasing: in the next years the growth will be less 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
The Price/Earnings ratio is 32.90, which means the current valuation is very expensive for FR.
Based on the Price/Earnings ratio, FR is valued a bit cheaper than 61.42% of the companies in the same industry.
FR is valuated rather expensively when we compare the Price/Earnings ratio to 27.00, which is the current average of the S&P500 Index.
FR is valuated quite expensively with a Price/Forward Earnings ratio of 31.94.
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.
When comparing the Price/Forward Earnings ratio of FR to the average of the S&P500 Index (23.70), we can say FR is valued slightly more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 32.9 | ||
| Fwd PE | 31.94 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of FR indicates a rather expensive valuation: FR more expensive than 82.68% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 20.56 |
4.3 Compensation for Growth
FR has an outstanding profitability rating, which 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)10.95
EPS Next 2Y-8.04%
EPS Next 3Y-3.53%
5. Dividend
5.1 Amount
FR has a Yearly Dividend Yield of 3.11%. Purely for dividend investing, there may be better candidates out there.
With a Dividend Yield of 3.11, FR pays less dividend than the industry average, which is at 6.83. 80.31% of the companies listed in the same industry pay a better dividend than FR!
Compared to an average S&P500 Dividend Yield of 1.94, FR pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.11% |
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 its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
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.
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%
58.89
+0.56 (+0.96%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners102.82%
Inst Owner Change0%
Ins Owners0.36%
Ins Owner Change-5%
Market Cap7.80B
Revenue(TTM)714.25M
Net Income(TTM)236.85M
Analysts75.56
Price Target61.2 (3.92%)
Short Float %2.61%
Short Ratio3.63
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.11% |
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%
EPS NQ rev (3m)5.02%
EPS NY rev (1m)0%
EPS NY rev (3m)5.98%
Revenue NQ rev (1m)0.05%
Revenue NQ rev (3m)0.17%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.03%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 32.9 | ||
| Fwd PE | 31.94 | ||
| P/S | 10.92 | ||
| P/FCF | N/A | ||
| P/OCF | 18.75 | ||
| P/B | 2.94 | ||
| P/tB | 2.94 | ||
| EV/EBITDA | 20.56 |
EPS(TTM)1.79
EY3.04%
EPS(NY)1.84
Fwd EY3.13%
FCF(TTM)-0.4
FCFYN/A
OCF(TTM)3.14
OCFY5.33%
SpS5.39
BVpS20.02
TBVpS20.02
PEG (NY)N/A
PEG (5Y)10.95
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 | 1.98 |
F-Score6
WACC7.53%
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 32.9 and the Price/Book (PB) ratio is 2.94.
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%.