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 129 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
KIM had positive earnings in the past year.
In the past year KIM had a positive cash flow from operations.
Each year in the past 5 years KIM has been profitable.
KIM had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
KIM has a Return On Assets of 2.61%. This is in the better half of the industry: KIM outperforms 72.87% of its industry peers.
KIM's Return On Equity of 4.87% is fine compared to the rest of the industry. KIM outperforms 68.22% of its industry peers.
KIM has a Return On Invested Capital of 2.77%. This is comparable to the rest of the industry: KIM outperforms 51.16% of its industry peers.
KIM had an Average Return On Invested Capital over the past 3 years of 2.59%. This is in line with the industry average of 3.16%.
The 3 year average ROIC (2.59%) for KIM is below the current ROIC(2.77%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.61% | ||
| ROE | 4.87% | ||
| ROIC | 2.77% |
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
KIM has a Profit Margin of 24.90%. This is in the better half of the industry: KIM outperforms 79.07% of its industry peers.
In the last couple of years the Profit Margin of KIM has declined.
KIM has a Operating Margin of 32.77%. This is in the better half of the industry: KIM outperforms 70.54% of its industry peers.
In the last couple of years the Operating Margin of KIM has declined.
KIM has a Gross Margin of 68.70%. This is comparable to the rest of the industry: KIM outperforms 55.04% of its industry peers.
KIM's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 32.77% | ||
| PM (TTM) | 24.9% | ||
| GM | 68.7% |
OM growth 3Y-0.51%
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.
The number of shares outstanding for KIM has been increased compared to 5 years ago.
Compared to 1 year ago, KIM has about the same debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 1.17, we must say that KIM is in the distress zone and has some risk of bankruptcy.
KIM has a Altman-Z score of 1.17. This is amongst the best in the industry. KIM outperforms 80.62% of its industry peers.
KIM has a debt to FCF ratio of 17.38. This is a negative value and a sign of low solvency as KIM would need 17.38 years to pay back of all of its debts.
The Debt to FCF ratio of KIM (17.38) is better than 81.40% of its industry peers.
A Debt/Equity ratio of 0.76 indicates that KIM is somewhat dependend on debt financing.
KIM has a better Debt to Equity ratio (0.76) than 72.09% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.76 | ||
| Debt/FCF | 17.38 | ||
| Altman-Z | 1.17 |
ROIC/WACC0.4
WACC6.89%
2.3 Liquidity
A Current Ratio of 1.24 indicates that KIM should not have too much problems paying its short term obligations.
With a decent Current ratio value of 1.24, KIM is doing good in the industry, outperforming 62.02% of the companies in the same industry.
KIM has a Quick Ratio of 1.24. This is a normal value and indicates that KIM is financially healthy and should not expect problems in meeting its short term obligations.
The Quick ratio of KIM (1.24) is better than 62.79% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.24 | ||
| Quick Ratio | 1.24 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 42.59% over the past year.
The Earnings Per Share has been decreasing by -6.89% on average over the past years.
KIM shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 12.23%.
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)42.59%
EPS 3Y-29.53%
EPS 5Y-6.89%
EPS Q2Q%700%
Revenue 1Y (TTM)12.23%
Revenue growth 3Y14.29%
Revenue growth 5Y11.94%
Sales Q2Q%7.56%
3.2 Future
KIM is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 7.34% yearly.
Based on estimates for the next years, KIM will show a small growth in Revenue. The Revenue will grow by 3.96% on average per year.
EPS Next Y23.65%
EPS Next 2Y14.13%
EPS Next 3Y13%
EPS Next 5Y7.34%
Revenue Next Year5.27%
Revenue Next 2Y4.26%
Revenue Next 3Y2.96%
Revenue Next 5Y3.96%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 28.29, the valuation of KIM can be described as expensive.
Based on the Price/Earnings ratio, KIM is valued a bit cheaper than 66.67% of the companies in the same industry.
KIM is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 28.04, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 29.86, the valuation of KIM can be described as expensive.
Based on the Price/Forward Earnings ratio, KIM is valued a bit cheaper than 75.97% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 37.64. KIM is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 28.29 | ||
| Fwd PE | 29.86 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of KIM indicates a slightly more expensive valuation: KIM is more expensive than 76.74% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, KIM is valued a bit cheaper than the industry average as 72.09% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 31.92 | ||
| EV/EBITDA | 17.7 |
4.3 Compensation for Growth
KIM's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
KIM has a very decent profitability rating, which 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)1.2
PEG (5Y)N/A
EPS Next 2Y14.13%
EPS Next 3Y13%
5. Dividend
5.1 Amount
KIM has a Yearly Dividend Yield of 4.55%, which is a nice return.
KIM's Dividend Yield is slightly below the industry average, which is at 6.44.
Compared to an average S&P500 Dividend Yield of 2.31, KIM pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.55% |
5.2 History
The dividend of KIM decreases each year by -3.26%.
KIM has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)-3.26%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
134.86% of the earnings are spent on dividend by KIM. This is not a sustainable payout ratio.
DP134.86%
EPS Next 2Y14.13%
EPS Next 3Y13%
21.78
-0.2 (-0.91%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners97.22%
Inst Owner Change0.12%
Ins Owners2.18%
Ins Owner Change1.48%
Market Cap14.73B
Analysts71.85
Price Target24.74 (13.59%)
Short Float %2.85%
Short Ratio4.31
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.55% |
Yearly Dividend1.06
Dividend Growth(5Y)-3.26%
DP134.86%
Div Incr Years0
Div Non Decr Years0
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)14.81%
Min EPS beat(2)3.1%
Max EPS beat(2)26.51%
EPS beat(4)4
Avg EPS beat(4)12.13%
Min EPS beat(4)3.1%
Max EPS beat(4)26.51%
EPS beat(8)6
Avg EPS beat(8)-2.33%
EPS beat(12)7
Avg EPS beat(12)-28.29%
EPS beat(16)10
Avg EPS beat(16)43.37%
Revenue beat(2)2
Avg Revenue beat(2)1.67%
Min Revenue beat(2)1.6%
Max Revenue beat(2)1.74%
Revenue beat(4)3
Avg Revenue beat(4)0.52%
Min Revenue beat(4)-1.3%
Max Revenue beat(4)1.74%
Revenue beat(8)5
Avg Revenue beat(8)0.84%
Revenue beat(12)9
Avg Revenue beat(12)1.07%
Revenue beat(16)13
Avg Revenue beat(16)2.78%
PT rev (1m)0.87%
PT rev (3m)-3.11%
EPS NQ rev (1m)-0.43%
EPS NQ rev (3m)-2.94%
EPS NY rev (1m)1.19%
EPS NY rev (3m)0.98%
Revenue NQ rev (1m)0.03%
Revenue NQ rev (3m)-0.19%
Revenue NY rev (1m)0.05%
Revenue NY rev (3m)0.42%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 28.29 | ||
| Fwd PE | 29.86 | ||
| P/S | 7.12 | ||
| P/FCF | 31.92 | ||
| P/OCF | 13.99 | ||
| P/B | 1.39 | ||
| P/tB | 1.39 | ||
| EV/EBITDA | 17.7 |
EPS(TTM)0.77
EY3.54%
EPS(NY)0.73
Fwd EY3.35%
FCF(TTM)0.68
FCFY3.13%
OCF(TTM)1.56
OCFY7.15%
SpS3.06
BVpS15.65
TBVpS15.65
PEG (NY)1.2
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.61% | ||
| ROE | 4.87% | ||
| ROCE | 3.51% | ||
| ROIC | 2.77% | ||
| ROICexc | 2.79% | ||
| ROICexgc | 2.83% | ||
| OM | 32.77% | ||
| PM (TTM) | 24.9% | ||
| GM | 68.7% | ||
| FCFM | 22.3% |
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-4.11%
ROICexc growth 3Y10.84%
ROICexc growth 5Y-4.28%
OM growth 3Y-0.51%
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-Score6
Asset Turnover0.1
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.76 | ||
| Debt/FCF | 17.38 | ||
| Debt/EBITDA | 6.24 | ||
| Cap/Depr | 97.41% | ||
| Cap/Sales | 28.59% | ||
| Interest Coverage | 2.18 | ||
| Cash Conversion | 81.92% | ||
| Profit Quality | 89.58% | ||
| Current Ratio | 1.24 | ||
| Quick Ratio | 1.24 | ||
| Altman-Z | 1.17 |
F-Score6
WACC6.89%
ROIC/WACC0.4
Cap/Depr(3y)94.6%
Cap/Depr(5y)114.14%
Cap/Sales(3y)27.48%
Cap/Sales(5y)32.82%
Profit Quality(3y)199.49%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)42.59%
EPS 3Y-29.53%
EPS 5Y-6.89%
EPS Q2Q%700%
EPS Next Y23.65%
EPS Next 2Y14.13%
EPS Next 3Y13%
EPS Next 5Y7.34%
Revenue 1Y (TTM)12.23%
Revenue growth 3Y14.29%
Revenue growth 5Y11.94%
Sales Q2Q%7.56%
Revenue Next Year5.27%
Revenue Next 2Y4.26%
Revenue Next 3Y2.96%
Revenue Next 5Y3.96%
EBIT growth 1Y13.65%
EBIT growth 3Y13.71%
EBIT growth 5Y8.02%
EBIT Next Year105.71%
EBIT Next 3Y29.14%
EBIT Next 5Y18.95%
FCF growth 1Y8.2%
FCF growth 3YN/A
FCF growth 5Y30.79%
OCF growth 1Y4.11%
OCF growth 3Y17.56%
OCF growth 5Y11.5%