KIMCO REALTY CORP (KIM) Stock Fundamental Analysis
NYSE:KIM - New York Stock Exchange, Inc. - US49446R1095 - REIT - Currency: USD
KIM gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 130 industry peers in the Diversified REITs industry. Both the profitability and the financial health of KIM get a neutral evaluation. Nothing too spectacular is happening here. KIM has a decent growth rate and is not valued too expensively.
1. Profitability
1.1 Basic Checks
In the past year KIM was profitable.
KIM had a positive operating cash flow in the past year.
In the past 5 years KIM has always been profitable.
Each year in the past 5 years KIM had a positive operating cash flow.
1.2 Ratios
KIM has a better Return On Assets (1.83%) than 64.62% of its industry peers.
KIM has a better Return On Equity (3.49%) than 63.85% of its industry peers.
KIM has a Return On Invested Capital of 2.61%. This is comparable to the rest of the industry: KIM outperforms 49.23% of its industry peers.
The Average Return On Invested Capital over the past 3 years for KIM is in line with the industry average of 3.17%.
The last Return On Invested Capital (2.61%) for KIM is above the 3 year average (2.59%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.83% | ||
| ROE | 3.49% | ||
| ROIC | 2.61% |
ROA(3y)1.94%
ROA(5y)3.72%
ROE(3y)3.71%
ROE(5y)7.34%
ROIC(3y)2.59%
ROIC(5y)2.41%
1.3 Margins
Looking at the Profit Margin, with a value of 18.23%, KIM is in the better half of the industry, outperforming 72.31% of the companies in the same industry.
KIM's Profit Margin has declined in the last couple of years.
Looking at the Operating Margin, with a value of 32.28%, KIM is in the better half of the industry, outperforming 70.00% of the companies in the same industry.
KIM's Operating Margin has declined in the last couple of years.
KIM has a Gross Margin (68.70%) which is comparable to the rest of the industry.
KIM's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 32.28% | ||
| PM (TTM) | 18.23% | ||
| GM | 68.7% |
OM growth 3Y-0.5%
OM growth 5Y-3.5%
PM growth 3Y-32.69%
PM growth 5Y-8.94%
GM growth 3Y-0.33%
GM growth 5Y-0.64%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so KIM is destroying value.
The number of shares outstanding for KIM has been increased compared to 1 year ago.
KIM has more shares outstanding than it did 5 years ago.
The debt/assets ratio for KIM has remained at the same level compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 1.10, we must say that KIM is in the distress zone and has some risk of bankruptcy.
KIM's Altman-Z score of 1.10 is fine compared to the rest of the industry. KIM outperforms 80.00% of its industry peers.
The Debt to FCF ratio of KIM is 16.06, which is on the high side as it means it would take KIM, 16.06 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 16.06, KIM is in the better half of the industry, outperforming 80.00% of the companies in the same industry.
KIM has a Debt/Equity ratio of 0.79. This is a neutral value indicating KIM is somewhat dependend on debt financing.
KIM's Debt to Equity ratio of 0.79 is fine compared to the rest of the industry. KIM outperforms 70.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.79 | ||
| Debt/FCF | 16.06 | ||
| Altman-Z | 1.1 |
ROIC/WACC0.39
WACC6.78%
2.3 Liquidity
A Current Ratio of 2.40 indicates that KIM has no problem at all paying its short term obligations.
KIM's Current ratio of 2.40 is amongst the best of the industry. KIM outperforms 83.85% of its industry peers.
A Quick Ratio of 2.40 indicates that KIM has no problem at all paying its short term obligations.
The Quick ratio of KIM (2.40) is better than 83.85% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.4 | ||
| Quick Ratio | 2.4 |
3. Growth
3.1 Past
KIM shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 90.74%, which is quite impressive.
The Earnings Per Share has been decreasing by -6.89% on average over the past years.
The Revenue has grown by 14.22% in the past year. This is quite good.
Measured over the past years, KIM shows a quite strong growth in Revenue. The Revenue has been growing by 11.94% on average per year.
EPS 1Y (TTM)90.74%
EPS 3Y-29.53%
EPS 5Y-6.89%
EPS Q2Q%1566.67%
Revenue 1Y (TTM)14.22%
Revenue growth 3Y14.29%
Revenue growth 5Y11.94%
Sales Q2Q%7.56%
3.2 Future
The Earnings Per Share is expected to grow by 8.14% on average over the next years. This is quite good.
KIM is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.96% yearly.
EPS Next Y22.44%
EPS Next 2Y14.22%
EPS Next 3Y13%
EPS Next 5Y8.14%
Revenue Next Year4.72%
Revenue Next 2Y3.98%
Revenue Next 3Y2.96%
Revenue Next 5Y3.96%
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 accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
KIM is valuated rather expensively with a Price/Earnings ratio of 20.50.
Compared to the rest of the industry, the Price/Earnings ratio of KIM indicates a somewhat cheap valuation: KIM is cheaper than 71.54% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of KIM to the average of the S&P500 Index (28.22), we can say KIM is valued slightly cheaper.
KIM is valuated quite expensively with a Price/Forward Earnings ratio of 28.91.
KIM's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. KIM is cheaper than 75.38% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 20.86, KIM is valued a bit more expensive.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 20.5 | ||
| Fwd PE | 28.91 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, KIM is valued a bit more expensive than 76.15% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, KIM is valued a bit cheaper than the industry average as 70.00% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 27.17 | ||
| EV/EBITDA | 17.47 |
4.3 Compensation for Growth
KIM's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of KIM may justify a higher PE ratio.
KIM's earnings are expected to grow with 13.00% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.91
PEG (5Y)N/A
EPS Next 2Y14.22%
EPS Next 3Y13%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 4.77%, KIM is a good candidate for dividend investing.
KIM's Dividend Yield is comparable with the industry average which is at 16.33.
Compared to an average S&P500 Dividend Yield of 2.44, KIM pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.77% |
5.2 History
The dividend of KIM decreases each year by -3.27%.
KIM has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)-3.27%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
KIM pays out 184.75% of its income as dividend. This is not a sustainable payout ratio.
DP184.75%
EPS Next 2Y14.22%
EPS Next 3Y13%
21.12
+0.17 (+0.81%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners93.75%
Inst Owner Change0.09%
Ins Owners2.14%
Ins Owner Change0.68%
Market Cap14.35B
Analysts71.85
Price Target25.02 (18.47%)
Short Float %3.28%
Short Ratio3.82
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.77% |
Yearly Dividend1.06
Dividend Growth(5Y)-3.27%
DP184.75%
Div Incr Years0
Div Non Decr Years0
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)19%
Min EPS beat(2)11.48%
Max EPS beat(2)26.51%
EPS beat(4)3
Avg EPS beat(4)-17.86%
Min EPS beat(4)-116.88%
Max EPS beat(4)26.51%
EPS beat(8)6
Avg EPS beat(8)12.9%
EPS beat(12)7
Avg EPS beat(12)-16.19%
EPS beat(16)10
Avg EPS beat(16)56.13%
Revenue beat(2)2
Avg Revenue beat(2)0.83%
Min Revenue beat(2)0.06%
Max Revenue beat(2)1.6%
Revenue beat(4)3
Avg Revenue beat(4)0.96%
Min Revenue beat(4)-1.3%
Max Revenue beat(4)3.49%
Revenue beat(8)5
Avg Revenue beat(8)0.68%
Revenue beat(12)9
Avg Revenue beat(12)1.07%
Revenue beat(16)13
Avg Revenue beat(16)3.06%
PT rev (1m)-3.71%
PT rev (3m)-6.23%
EPS NQ rev (1m)0.22%
EPS NQ rev (3m)-8.22%
EPS NY rev (1m)0.47%
EPS NY rev (3m)-7.7%
Revenue NQ rev (1m)0.04%
Revenue NQ rev (3m)0.89%
Revenue NY rev (1m)-0.09%
Revenue NY rev (3m)1.04%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 20.5 | ||
| Fwd PE | 28.91 | ||
| P/S | 7.05 | ||
| P/FCF | 27.17 | ||
| P/OCF | 14.27 | ||
| P/B | 1.35 | ||
| P/tB | 1.35 | ||
| EV/EBITDA | 17.47 |
EPS(TTM)1.03
EY4.88%
EPS(NY)0.73
Fwd EY3.46%
FCF(TTM)0.78
FCFY3.68%
OCF(TTM)1.48
OCFY7.01%
SpS3
BVpS15.68
TBVpS15.68
PEG (NY)0.91
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.83% | ||
| ROE | 3.49% | ||
| ROCE | 3.31% | ||
| ROIC | 2.61% | ||
| ROICexc | 2.71% | ||
| ROICexgc | 2.79% | ||
| OM | 32.28% | ||
| PM (TTM) | 18.23% | ||
| GM | 68.7% | ||
| FCFM | 25.93% |
ROA(3y)1.94%
ROA(5y)3.72%
ROE(3y)3.71%
ROE(5y)7.34%
ROIC(3y)2.59%
ROIC(5y)2.41%
ROICexc(3y)2.67%
ROICexc(5y)2.47%
ROICexgc(3y)2.72%
ROICexgc(5y)2.5%
ROCE(3y)3.28%
ROCE(5y)3.05%
ROICexcg growth 3Y11.55%
ROICexcg growth 5Y-4.1%
ROICexc growth 3Y10.84%
ROICexc growth 5Y-4.28%
OM growth 3Y-0.5%
OM growth 5Y-3.5%
PM growth 3Y-32.69%
PM growth 5Y-8.94%
GM growth 3Y-0.33%
GM growth 5Y-0.64%
F-Score5
Asset Turnover0.1
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.79 | ||
| Debt/FCF | 16.06 | ||
| Debt/EBITDA | 6.71 | ||
| Cap/Depr | 79.08% | ||
| Cap/Sales | 23.44% | ||
| Interest Coverage | 2.18 | ||
| Cash Conversion | 79.73% | ||
| Profit Quality | 142.28% | ||
| Current Ratio | 2.4 | ||
| Quick Ratio | 2.4 | ||
| Altman-Z | 1.1 |
F-Score5
WACC6.78%
ROIC/WACC0.39
Cap/Depr(3y)94.6%
Cap/Depr(5y)114.14%
Cap/Sales(3y)27.48%
Cap/Sales(5y)32.82%
Profit Quality(3y)199.45%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)90.74%
EPS 3Y-29.53%
EPS 5Y-6.89%
EPS Q2Q%1566.67%
EPS Next Y22.44%
EPS Next 2Y14.22%
EPS Next 3Y13%
EPS Next 5Y8.14%
Revenue 1Y (TTM)14.22%
Revenue growth 3Y14.29%
Revenue growth 5Y11.94%
Sales Q2Q%7.56%
Revenue Next Year4.72%
Revenue Next 2Y3.98%
Revenue Next 3Y2.96%
Revenue Next 5Y3.96%
EBIT growth 1Y12.86%
EBIT growth 3Y13.71%
EBIT growth 5Y8.02%
EBIT Next Year106.28%
EBIT Next 3Y29.14%
EBIT Next 5Y18.95%
FCF growth 1Y-0.32%
FCF growth 3YN/A
FCF growth 5Y30.79%
OCF growth 1Y-6.16%
OCF growth 3Y17.56%
OCF growth 5Y11.5%