KIMCO REALTY CORP (KIM) Stock Fundamental Analysis
NYSE:KIM - New York Stock Exchange, Inc. - US49446R1095 - REIT - Currency: USD
Taking everything into account, KIM scores 5 out of 10 in our fundamental rating. KIM was compared to 130 industry peers in the Diversified REITs industry. KIM has only an average score on both its financial health and profitability. KIM is quite expensive at the moment. It does show a decent growth rate.
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.
KIM had positive earnings in each of the past 5 years.
KIM had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
KIM's Return On Assets of 1.83% is fine compared to the rest of the industry. KIM outperforms 64.62% of its industry peers.
With a decent Return On Equity value of 3.49%, KIM is doing good in the industry, outperforming 63.85% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 2.61%, KIM is in line with its industry, outperforming 49.23% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for KIM is in line with the industry average of 3.17%.
The 3 year average ROIC (2.59%) for KIM is below the current ROIC(2.61%), indicating increased profibility in the last year.
| 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
KIM has a better Profit Margin (18.23%) than 72.31% of its industry peers.
In the last couple of years the Profit Margin of KIM has declined.
KIM has a Operating Margin of 32.28%. This is in the better half of the industry: KIM outperforms 70.00% of its industry peers.
KIM's Operating Margin has declined in the last couple of years.
KIM's Gross Margin of 68.70% is in line compared to the rest of the industry. KIM outperforms 54.62% of its industry peers.
In the last couple of years the Gross Margin of KIM has remained more or less at the same level.
| 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
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), KIM is destroying value.
KIM has more shares outstanding than it did 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 1.08, we must say that KIM is in the distress zone and has some risk of bankruptcy.
KIM has a better Altman-Z score (1.08) than 78.46% of its industry peers.
KIM has a debt to FCF ratio of 16.06. This is a negative value and a sign of low solvency as KIM would need 16.06 years to pay back of all of its debts.
The Debt to FCF ratio of KIM (16.06) is better than 80.00% of its industry peers.
KIM has a Debt/Equity ratio of 0.79. This is a neutral value indicating KIM is somewhat dependend on debt financing.
With a decent Debt to Equity ratio value of 0.79, KIM is doing good in the industry, outperforming 70.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.79 | ||
| Debt/FCF | 16.06 | ||
| Altman-Z | 1.08 |
ROIC/WACC0.39
WACC6.77%
2.3 Liquidity
A Current Ratio of 2.40 indicates that KIM has no problem at all paying its short term obligations.
Looking at the Current ratio, with a value of 2.40, KIM belongs to the top of the industry, outperforming 83.85% of the companies in the same industry.
A Quick Ratio of 2.40 indicates that KIM has no problem at all paying its short term obligations.
KIM has a better Quick ratio (2.40) than 83.85% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.4 | ||
| Quick Ratio | 2.4 |
3. Growth
3.1 Past
The earnings per share for KIM have decreased strongly by -45.63% in the last 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 14.22%.
The Revenue has been growing by 11.94% on average over the past years. This is quite good.
EPS 1Y (TTM)-45.63%
EPS 3Y-29.53%
EPS 5Y-6.89%
EPS Q2Q%4.55%
Revenue 1Y (TTM)14.22%
Revenue growth 3Y14.29%
Revenue growth 5Y11.94%
Sales Q2Q%16.34%
3.2 Future
The Earnings Per Share is expected to grow by 8.14% on average over the next years. This is quite good.
The Revenue is expected to grow by 3.94% on average over the next years.
EPS Next Y22.44%
EPS Next 2Y14.22%
EPS Next 3Y13%
EPS Next 5Y8.14%
Revenue Next Year4.72%
Revenue Next 2Y4%
Revenue Next 3Y2.93%
Revenue Next 5Y3.94%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better 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 decreasing.
4. Valuation
4.1 Price/Earnings Ratio
KIM is valuated quite expensively with a Price/Earnings ratio of 36.34.
The rest of the industry has a similar Price/Earnings ratio as KIM.
The average S&P500 Price/Earnings ratio is at 28.79. KIM is valued slightly more expensive when compared to this.
Based on the Price/Forward Earnings ratio of 29.68, the valuation of KIM can be described as expensive.
76.92% of the companies in the same industry are more expensive than KIM, based on the Price/Forward Earnings ratio.
KIM's Price/Forward Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 21.38.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 36.34 | ||
| Fwd PE | 29.68 |
4.2 Price Multiples
73.85% of the companies in the same industry are cheaper than KIM, based on the Enterprise Value to EBITDA ratio.
Based on the Price/Free Cash Flow ratio, KIM is valued a bit cheaper than 70.77% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 26.18 | ||
| EV/EBITDA | 17.19 |
4.3 Compensation for Growth
The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
The decent profitability rating of KIM may justify a higher PE ratio.
A more expensive valuation may be justified as KIM's earnings are expected to grow with 13.00% in the coming years.
PEG (NY)1.62
PEG (5Y)N/A
EPS Next 2Y14.22%
EPS Next 3Y13%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 4.89%, KIM is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 16.90, KIM has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.47, KIM pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.89% |
5.2 History
The dividend of KIM decreases each year by -3.27%.
KIM has been paying a dividend for at least 10 years, so it has 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%
20.35
-0.08 (-0.39%)
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 Change0.07%
Ins Owners2.14%
Ins Owner Change0.68%
Market Cap13.83B
Analysts71.85
Price Target25.02 (22.95%)
Short Float %2.75%
Short Ratio3.2
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.89% |
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)-1.74%
PT rev (3m)-4.32%
EPS NQ rev (1m)1.52%
EPS NQ rev (3m)-8.22%
EPS NY rev (1m)1.71%
EPS NY rev (3m)-7.7%
Revenue NQ rev (1m)-0.01%
Revenue NQ rev (3m)0.89%
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.04%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 36.34 | ||
| Fwd PE | 29.68 | ||
| P/S | 6.79 | ||
| P/FCF | 26.18 | ||
| P/OCF | 13.75 | ||
| P/B | 1.3 | ||
| P/tB | 1.3 | ||
| EV/EBITDA | 17.19 |
EPS(TTM)0.56
EY2.75%
EPS(NY)0.69
Fwd EY3.37%
FCF(TTM)0.78
FCFY3.82%
OCF(TTM)1.48
OCFY7.27%
SpS3
BVpS15.68
TBVpS15.68
PEG (NY)1.62
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 | 1.08 |
F-Score5
WACC6.77%
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)-45.63%
EPS 3Y-29.53%
EPS 5Y-6.89%
EPS Q2Q%4.55%
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%16.34%
Revenue Next Year4.72%
Revenue Next 2Y4%
Revenue Next 3Y2.93%
Revenue Next 5Y3.94%
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%