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 129 industry peers in the Diversified REITs industry. KIM has only an average score on both its financial health and profitability. KIM has a correct valuation and a medium growth rate.
1. Profitability
1.1 Basic Checks
In the past year KIM was profitable.
KIM had a positive operating cash flow in the past year.
KIM had positive earnings in each of the past 5 years.
Each year in the past 5 years KIM had a positive operating cash flow.
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.
With a decent Return On Equity value of 4.87%, KIM is doing good in the industry, outperforming 68.22% of the companies in the same industry.
With a Return On Invested Capital value of 2.77%, KIM perfoms like the industry average, outperforming 51.16% 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 3.15%.
The last Return On Invested Capital (2.77%) for KIM is above the 3 year average (2.59%), which is a sign of increasing profitability.
| 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
With a decent Profit Margin value of 24.90%, KIM is doing good in the industry, outperforming 79.07% of the companies in the same industry.
In the last couple of years the Profit Margin of KIM has declined.
Looking at the Operating Margin, with a value of 32.77%, KIM is in the better half of the industry, outperforming 70.54% of the companies in the same industry.
In the last couple of years the Operating Margin of KIM has declined.
With a Gross Margin value of 68.70%, KIM perfoms like the industry average, outperforming 55.04% of the companies in the same industry.
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.
Compared to 5 years ago, KIM has more shares outstanding
The debt/assets ratio for KIM has remained at the same level compared to a year ago.
2.2 Solvency
KIM has an Altman-Z score of 1.13. This is a bad value and indicates that KIM is not financially healthy and even has some risk of bankruptcy.
KIM has a better Altman-Z score (1.13) than 79.07% 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.
KIM has a better Debt to FCF ratio (17.38) 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 Debt to Equity ratio of 0.76. This is in the better half of the industry: KIM outperforms 72.09% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.76 | ||
| Debt/FCF | 17.38 | ||
| Altman-Z | 1.13 |
ROIC/WACC0.34
WACC8.15%
2.3 Liquidity
KIM has a Current 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 Current ratio of KIM (1.24) is better than 62.02% of its industry peers.
A Quick Ratio of 1.24 indicates that KIM should not have too much problems paying its short term obligations.
With a decent Quick ratio value of 1.24, KIM is doing good in the industry, outperforming 62.79% of the companies in the same industry.
| 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.
Measured over the past years, KIM shows a decrease in Earnings Per Share. The EPS has been decreasing by -6.89% on average per year.
The Revenue has grown by 12.23% in the past year. This is quite good.
KIM shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 11.94% yearly.
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
Based on estimates for the next years, KIM will show a small growth in Earnings Per Share. The EPS will grow by 7.34% on average per year.
The Revenue is expected to grow by 3.96% on average over the next years.
EPS Next Y25.71%
EPS Next 2Y15.53%
EPS Next 3Y13.87%
EPS Next 5Y7.34%
Revenue Next Year5.27%
Revenue Next 2Y4.15%
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
With a Price/Earnings ratio of 27.05, KIM can be considered very expensive at the moment.
69.77% of the companies in the same industry are more expensive than KIM, based on the Price/Earnings ratio.
KIM is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 26.31, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 27.87, the valuation of KIM can be described as expensive.
Based on the Price/Forward Earnings ratio, KIM is valued a bit cheaper than the industry average as 79.07% of the companies are valued more expensively.
When comparing the Price/Forward Earnings ratio of KIM to the average of the S&P500 Index (22.13), we can say KIM is valued slightly more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 27.05 | ||
| Fwd PE | 27.87 |
4.2 Price Multiples
77.52% 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 the industry average as 72.09% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 30.52 | ||
| EV/EBITDA | 17.2 |
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.
A more expensive valuation may be justified as KIM's earnings are expected to grow with 13.87% in the coming years.
PEG (NY)1.05
PEG (5Y)N/A
EPS Next 2Y15.53%
EPS Next 3Y13.87%
5. Dividend
5.1 Amount
KIM has a Yearly Dividend Yield of 4.76%, which is a nice return.
Compared to an average industry Dividend Yield of 6.68, KIM has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.40, KIM pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.76% |
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 2Y15.53%
EPS Next 3Y13.87%
20.83
-0.19 (-0.9%)
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 Change4.42%
Ins Owners2.18%
Ins Owner Change1.48%
Market Cap14.09B
Analysts71.85
Price Target24.52 (17.71%)
Short Float %3.1%
Short Ratio3.68
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.76% |
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)-0.46%
PT rev (3m)-5.62%
EPS NQ rev (1m)-5%
EPS NQ rev (3m)-3.47%
EPS NY rev (1m)2.67%
EPS NY rev (3m)4.42%
Revenue NQ rev (1m)-0.33%
Revenue NQ rev (3m)-0.3%
Revenue NY rev (1m)0.33%
Revenue NY rev (3m)0.42%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 27.05 | ||
| Fwd PE | 27.87 | ||
| P/S | 6.81 | ||
| P/FCF | 30.52 | ||
| P/OCF | 13.38 | ||
| P/B | 1.33 | ||
| P/tB | 1.33 | ||
| EV/EBITDA | 17.2 |
EPS(TTM)0.77
EY3.7%
EPS(NY)0.75
Fwd EY3.59%
FCF(TTM)0.68
FCFY3.28%
OCF(TTM)1.56
OCFY7.48%
SpS3.06
BVpS15.65
TBVpS15.65
PEG (NY)1.05
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 | 1.13 |
F-Score6
WACC8.15%
ROIC/WACC0.34
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 Y25.71%
EPS Next 2Y15.53%
EPS Next 3Y13.87%
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 2Y4.15%
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%