KLEPIERRE (LI.PA)

FR0000121964 - REIT

25.8  +0.38 (+1.49%)

Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to LI. LI was compared to 46 industry peers in the Diversified REITs industry. While LI is still in line with the averages on profitability rating, there are concerns on its financial health. LI is valued correctly, but it does not seem to be growing.



6

1. Profitability

1.1 Basic Checks

LI had positive earnings in the past year.
LI had a positive operating cash flow in the past year.
Of the past 5 years LI 4 years were profitable.
LI had a positive operating cash flow in each of the past 5 years.

1.2 Ratios

LI has a Return On Assets of 0.96%. This is in the better half of the industry: LI outperforms 65.12% of its industry peers.
With a decent Return On Equity value of 2.40%, LI is doing good in the industry, outperforming 67.44% of the companies in the same industry.
LI has a better Return On Invested Capital (3.96%) than 79.07% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for LI is in line with the industry average of 3.40%.
The 3 year average ROIC (3.44%) for LI is below the current ROIC(3.96%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 0.96%
ROE 2.4%
ROIC 3.96%
ROA(3y)1.83%
ROA(5y)0.67%
ROE(3y)4.62%
ROE(5y)1.51%
ROIC(3y)3.44%
ROIC(5y)3.28%

1.3 Margins

Looking at the Profit Margin, with a value of 13.57%, LI is in the better half of the industry, outperforming 69.77% of the companies in the same industry.
LI's Profit Margin has declined in the last couple of years.
LI's Operating Margin of 66.41% is in line compared to the rest of the industry. LI outperforms 46.51% of its industry peers.
In the last couple of years the Operating Margin of LI has remained more or less at the same level.
The Gross Margin of LI (72.78%) is comparable to the rest of the industry.
LI's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 66.41%
PM (TTM) 13.57%
GM 72.78%
OM growth 3Y3.66%
OM growth 5Y0.13%
PM growth 3YN/A
PM growth 5Y-24.35%
GM growth 3Y3.91%
GM growth 5Y-0.08%

3

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), LI is destroying value.
Compared to 1 year ago, LI has about the same amount of shares outstanding.
Compared to 5 years ago, LI has less shares outstanding
The debt/assets ratio for LI has been reduced compared to a year ago.

2.2 Solvency

Based on the Altman-Z score of 0.80, we must say that LI is in the distress zone and has some risk of bankruptcy.
LI has a Altman-Z score of 0.80. This is comparable to the rest of the industry: LI outperforms 44.19% of its industry peers.
The Debt to FCF ratio of LI is 10.86, which is on the high side as it means it would take LI, 10.86 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 10.86, LI is in the better half of the industry, outperforming 74.42% of the companies in the same industry.
A Debt/Equity ratio of 0.79 indicates that LI is somewhat dependend on debt financing.
With a Debt to Equity ratio value of 0.79, LI perfoms like the industry average, outperforming 51.16% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.79
Debt/FCF 10.86
Altman-Z 0.8
ROIC/WACC0.9
WACC4.41%

2.3 Liquidity

A Current Ratio of 0.39 indicates that LI may have some problems paying its short term obligations.
LI has a worse Current ratio (0.39) than 65.12% of its industry peers.
A Quick Ratio of 0.39 indicates that LI may have some problems paying its short term obligations.
LI's Quick ratio of 0.39 is on the low side compared to the rest of the industry. LI is outperformed by 60.47% of its industry peers.
Industry RankSector Rank
Current Ratio 0.39
Quick Ratio 0.39

3

3. Growth

3.1 Past

LI shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -2.40%.
The Earnings Per Share has been growing slightly by 3.15% on average over the past years.
LI shows a decrease in Revenue. In the last year, the revenue decreased by -0.59%.
The Revenue has been decreasing by -1.50% on average over the past years.
EPS 1Y (TTM)-2.4%
EPS 3Y6.15%
EPS 5Y3.15%
EPS Q2Q%4.24%
Revenue 1Y (TTM)-0.59%
Revenue growth 3Y2.88%
Revenue growth 5Y-1.5%
Sales Q2Q%-6.18%

3.2 Future

LI is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 2.94% yearly.
LI is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.21% yearly.
EPS Next Y4.61%
EPS Next 2Y3.04%
EPS Next 3Y2.87%
EPS Next 5Y2.94%
Revenue Next Year4.65%
Revenue Next 2Y3.47%
Revenue Next 3Y3.2%
Revenue Next 5Y4.21%

3.3 Evolution

The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.

5

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 10.57, which indicates a very decent valuation of LI.
Based on the Price/Earnings ratio, LI is valued cheaply inside the industry as 88.37% of the companies are valued more expensively.
LI is valuated cheaply when we compare the Price/Earnings ratio to 28.73, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 10.11 indicates a reasonable valuation of LI.
LI's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. LI is cheaper than 62.79% of the companies in the same industry.
LI's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 20.21.
Industry RankSector Rank
PE 10.57
Fwd PE 10.11

4.2 Price Multiples

LI's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. LI is cheaper than 62.79% of the companies in the same industry.
Industry RankSector Rank
P/FCF 10.04
EV/EBITDA N/A

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates LI does not grow enough to justify the current Price/Earnings ratio.
LI has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)2.29
PEG (5Y)3.36
EPS Next 2Y3.04%
EPS Next 3Y2.87%

4

5. Dividend

5.1 Amount

LI has a Yearly Dividend Yield of 6.83%, which is a nice return.
Compared to an average industry Dividend Yield of 7.29, LI pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.39, LI pays a better dividend.
Industry RankSector Rank
Dividend Yield 6.83%

5.2 History

The dividend of LI decreases each year by -13.14%.
Dividend Growth(5Y)-13.14%
Div Incr Years1
Div Non Decr Years1

5.3 Sustainability

LI pays out 134.15% of its income as dividend. This is not a sustainable payout ratio.
DP134.15%
EPS Next 2Y3.04%
EPS Next 3Y2.87%

KLEPIERRE

EPA:LI (6/20/2024, 5:35:30 PM)

25.8

+0.38 (+1.49%)

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 Cap7.37B
Analysts
Price Target
Dividend
Industry RankSector Rank
Dividend Yield 6.83%
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 RankSector Rank
PE 10.57
Fwd PE 10.11
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)2.29
PEG (5Y)3.36
Profitability
Industry RankSector Rank
ROA 0.96%
ROE 2.4%
ROCE
ROIC
ROICexc
ROICexgc
OM 66.41%
PM (TTM) 13.57%
GM 72.78%
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 Turnover0.07
Health
Industry RankSector Rank
Debt/Equity 0.79
Debt/FCF
Debt/EBITDA
Cap/Depr
Cap/Sales
Interest Coverage
Cash Conversion
Profit Quality
Current Ratio 0.39
Quick Ratio 0.39
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)-2.4%
EPS 3Y6.15%
EPS 5Y
EPS Q2Q%
EPS Next Y4.61%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)-0.59%
Revenue growth 3Y2.88%
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