FIRST INDUSTRIAL REALTY TR (FR)
US32054K1034 - REIT
Overall FR gets a fundamental rating of 6 out of 10. We evaluated FR against 127 industry peers in the Diversified REITs industry. While FR belongs to the best of the industry regarding profitability, there are some minor 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.
In the past year FR had a positive cash flow from operations.
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
The Return On Assets of FR (5.45%) is better than 92.80% of its industry peers.
FR has a Return On Equity of 10.91%. This is amongst the best in the industry. FR outperforms 92.80% of its industry peers.
Looking at the Return On Invested Capital, with a value of 4.07%, FR belongs to the top of the industry, outperforming 81.60% of the companies in the same industry.
FR had an Average Return On Invested Capital over the past 3 years of 3.71%. This is in line with the industry average of 3.01%.
The 3 year average ROIC (3.71%) for FR is below the current ROIC(4.07%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.45% | ||
| ROE | 10.91% | ||
| ROIC | 4.07% |
ROA(3y)6.34%
ROA(5y)6.19%
ROE(3y)12.55%
ROE(5y)12.29%
ROIC(3y)3.71%
ROIC(5y)3.71%
1.3 Margins
Looking at the Profit Margin, with a value of 44.42%, FR belongs to the top of the industry, outperforming 93.60% of the companies in the same industry.
In the last couple of years the Profit Margin of FR has grown nicely.
FR's Operating Margin of 40.38% is amongst the best of the industry. FR outperforms 86.40% of its industry peers.
In the last couple of years the Operating Margin of FR has grown nicely.
With a decent Gross Margin value of 72.79%, FR is doing good in the industry, outperforming 64.80% of the companies in the same industry.
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 | 40.38% | ||
| PM (TTM) | 44.42% | ||
| GM | 72.79% |
OM growth 3Y2.71%
OM growth 5Y2.71%
PM growth 3Y0.78%
PM growth 5Y2.12%
GM growth 3Y-0.17%
GM growth 5Y0.54%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), FR is destroying value.
FR has about the same amout of shares outstanding than it did 1 year ago.
FR has more shares outstanding than it did 5 years ago.
FR has a worse debt/assets ratio than last year.
2.2 Solvency
An Altman-Z score of 1.99 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 1.99. This is amongst the best in the industry. FR outperforms 93.60% of its industry peers.
A Debt/Equity ratio of 0.86 indicates that FR is somewhat dependend on debt financing.
With a decent Debt to Equity ratio value of 0.86, FR is doing good in the industry, outperforming 68.80% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.86 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 1.99 |
ROIC/WACC0.54
WACC7.47%
2.3 Liquidity
A Current Ratio of 2.32 indicates that FR has no problem at all paying its short term obligations.
With a decent Current ratio value of 2.32, FR is doing good in the industry, outperforming 76.80% of the companies in the same industry.
FR has a Quick Ratio of 2.18. This indicates that FR is financially healthy and has no problem in meeting its short term obligations.
Looking at the Quick ratio, with a value of 2.18, FR is in the better half of the industry, outperforming 74.40% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.32 | ||
| Quick Ratio | 2.18 |
3. Growth
3.1 Past
The earnings per share for FR have decreased strongly by -10.04% in the last year.
FR shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 9.75% yearly.
Looking at the last year, FR shows a quite strong growth in Revenue. The Revenue has grown by 9.01% in the last year.
The Revenue has been growing by 8.73% on average over the past years. This is quite good.
EPS 1Y (TTM)-10.04%
EPS 3Y10.6%
EPS 5Y9.75%
EPS Q2Q%-4.88%
Revenue 1Y (TTM)9.01%
Revenue growth 3Y11.08%
Revenue growth 5Y8.73%
Sales Q2Q%7.83%
3.2 Future
The Earnings Per Share is expected to grow by 1.17% 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 10.34% yearly.
EPS Next Y-19.79%
EPS Next 2Y-9.61%
EPS Next 3Y-3.37%
EPS Next 5Y1.17%
Revenue Next Year9.23%
Revenue Next 2Y9.1%
Revenue Next 3Y9.52%
Revenue Next 5Y10.34%
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less 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 24.98 indicates a rather expensive valuation of FR.
Based on the Price/Earnings ratio, FR is valued a bit cheaper than 72.80% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 24.41. FR is around the same levels.
With a Price/Forward Earnings ratio of 31.76, FR can be considered very expensive at the moment.
Based on the Price/Forward Earnings ratio, FR is valued a bit cheaper than the industry average as 76.00% of the companies are valued more expensively.
FR is valuated expensively when we compare the Price/Forward Earnings ratio to 20.59, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 24.98 | ||
| Fwd PE | 31.76 |
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 88.80% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 22.1 |
4.3 Compensation for Growth
The excellent profitability rating of FR may justify a higher PE ratio.
FR's earnings are expected to decrease with -3.37% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)2.56
EPS Next 2Y-9.61%
EPS Next 3Y-3.37%
5. Dividend
5.1 Amount
FR has a Yearly Dividend Yield of 2.79%.
FR's Dividend Yield is slightly below the industry average, which is at 5.52.
Compared to an average S&P500 Dividend Yield of 2.30, FR pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.79% |
5.2 History
The dividend of FR is nicely growing with an annual growth rate of 7.55%!
FR has been paying a dividend for at least 10 years, so it has 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)7.55%
Div Incr Years10
Div Non Decr Years10
5.3 Sustainability
FR pays out 63.36% 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.
DP63.36%
EPS Next 2Y-9.61%
EPS Next 3Y-3.37%
FIRST INDUSTRIAL REALTY TR
NYSE:FR (7/26/2024, 7:04:00 PM)
After market: 53.71 0 (0%)53.71
+1.03 (+1.96%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap7.11B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.79% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
Max EPS beat(2)
EPS beat(4)
Avg EPS beat(4)
Min EPS beat(4)
Max EPS beat(4)
EPS beat(8)
Avg EPS beat(8)
EPS beat(12)
Avg EPS beat(12)
EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
Avg Revenue beat(2)
Min Revenue beat(2)
Max Revenue beat(2)
Revenue beat(4)
Avg Revenue beat(4)
Min Revenue beat(4)
Max Revenue beat(4)
Revenue beat(8)
Avg Revenue beat(8)
Revenue beat(12)
Avg Revenue beat(12)
Revenue beat(16)
Avg Revenue beat(16)
PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 24.98 | ||
| Fwd PE | 31.76 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)N/A
PEG (5Y)2.56
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.45% | ||
| ROE | 10.91% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 40.38% | ||
| PM (TTM) | 44.42% | ||
| GM | 72.79% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.12
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.86 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 2.32 | ||
| Quick Ratio | 2.18 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
High Growth Momentum
Growth
EPS 1Y (TTM)-10.04%
EPS 3Y10.6%
EPS 5Y
EPS Q2Q%
EPS Next Y-19.79%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)9.01%
Revenue growth 3Y11.08%
Revenue growth 5Y
Sales Q2Q%
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y