NATIONAL STORAGE AFFILIATES (NSA) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:NSA - US6378701063 - REIT
31.38 USD
+1.12 (+3.7%)
31 USD
-0.38 (-1.21%)
Taking everything into account, NSA scores 3 out of 10 in our fundamental rating. NSA was compared to 30 industry peers in the Specialized REITs industry. There are concerns on the financial health of NSA while its profitability can be described as average. NSA does not seem to be growing, but still is valued expensively. NSA also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
NSA had positive earnings in the past year.
NSA had a positive operating cash flow in the past year.
In the past 5 years NSA has always been profitable.
In the past 5 years NSA always reported a positive cash flow from operatings.
1.2 Ratios
NSA has a Return On Assets of 0.92%. This is in the lower half of the industry: NSA underperforms 63.33% of its industry peers.
NSA has a Return On Equity (4.84%) which is comparable to the rest of the industry.
Looking at the Return On Invested Capital, with a value of 4.42%, NSA is in line with its industry, outperforming 53.33% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for NSA is in line with the industry average of 4.86%.
The last Return On Invested Capital (4.42%) for NSA is above the 3 year average (4.30%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.92% | ||
| ROE | 4.84% | ||
| ROIC | 4.42% |
ROA(3y)1.84%
ROA(5y)1.63%
ROE(3y)7.87%
ROE(5y)6.49%
ROIC(3y)4.3%
ROIC(5y)3.88%
1.3 Margins
With a Profit Margin value of 6.23%, NSA perfoms like the industry average, outperforming 43.33% of the companies in the same industry.
In the last couple of years the Profit Margin of NSA has declined.
NSA has a Operating Margin (37.10%) which is comparable to the rest of the industry.
In the last couple of years the Operating Margin of NSA has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 37.1% | ||
| PM (TTM) | 6.23% | ||
| GM | N/A |
OM growth 3Y1.16%
OM growth 5Y3.36%
PM growth 3Y-9.08%
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so NSA is destroying value.
Compared to 1 year ago, NSA has less shares outstanding
Compared to 5 years ago, NSA has more shares outstanding
NSA has a worse debt/assets ratio than last year.
2.2 Solvency
NSA has an Altman-Z score of 0.49. This is a bad value and indicates that NSA is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of NSA (0.49) is worse than 73.33% of its industry peers.
The Debt to FCF ratio of NSA is 13.50, which is on the high side as it means it would take NSA, 13.50 years of fcf income to pay off all of its debts.
With a Debt to FCF ratio value of 13.50, NSA perfoms like the industry average, outperforming 56.67% of the companies in the same industry.
NSA has a Debt/Equity ratio of 3.50. This is a high value indicating a heavy dependency on external financing.
NSA has a Debt to Equity ratio of 3.50. This is in the lower half of the industry: NSA underperforms 70.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 3.5 | ||
| Debt/FCF | 13.5 | ||
| Altman-Z | 0.49 |
ROIC/WACC0.62
WACC7.08%
2.3 Liquidity
NSA has a Current Ratio of 0.40. This is a bad value and indicates that NSA is not financially healthy enough and could expect problems in meeting its short term obligations.
The Current ratio of NSA (0.40) is worse than 70.00% of its industry peers.
NSA has a Quick Ratio of 0.40. This is a bad value and indicates that NSA is not financially healthy enough and could expect problems in meeting its short term obligations.
NSA has a Quick ratio of 0.40. This is in the lower half of the industry: NSA underperforms 70.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.4 | ||
| Quick Ratio | 0.4 |
3. Growth
3.1 Past
The earnings per share for NSA have decreased strongly by -64.33% in the last year.
Measured over the past 5 years, NSA shows a small growth in Earnings Per Share. The EPS has been growing by 6.27% on average per year.
The Revenue has decreased by -4.98% in the past year.
Measured over the past years, NSA shows a quite strong growth in Revenue. The Revenue has been growing by 14.71% on average per year.
EPS 1Y (TTM)-64.33%
EPS 3Y6.27%
EPS 5YN/A
EPS Q2Q%-5.56%
Revenue 1Y (TTM)-4.98%
Revenue growth 3Y9.57%
Revenue growth 5Y14.71%
Sales Q2Q%-2.54%
3.2 Future
The Earnings Per Share is expected to decrease by -13.13% on average over the next years. This is quite bad
NSA is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.19% yearly.
EPS Next Y-44.01%
EPS Next 2Y-24.58%
EPS Next 3Y-13.13%
EPS Next 5YN/A
Revenue Next Year-2.73%
Revenue Next 2Y-0.83%
Revenue Next 3Y0.78%
Revenue Next 5Y3.19%
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less 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
With a Price/Earnings ratio of 51.44, NSA can be considered very expensive at the moment.
Based on the Price/Earnings ratio, NSA is valued a bit more expensive than 60.00% of the companies in the same industry.
NSA's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 27.19.
With a Price/Forward Earnings ratio of 48.39, NSA can be considered very expensive at the moment.
The rest of the industry has a similar Price/Forward Earnings ratio as NSA.
When comparing the Price/Forward Earnings ratio of NSA to the average of the S&P500 Index (23.92), we can say NSA is valued expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 51.44 | ||
| Fwd PE | 48.39 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, NSA is valued cheaply inside the industry as 96.67% of the companies are valued more expensively.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of NSA indicates a rather cheap valuation: NSA is cheaper than 100.00% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 9.58 | ||
| EV/EBITDA | 12.29 |
4.3 Compensation for Growth
A cheap valuation may be justified as NSA's earnings are expected to decrease with -13.13% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-24.58%
EPS Next 3Y-13.13%
5. Dividend
5.1 Amount
NSA has a Yearly Dividend Yield of 7.53%, which is a nice return.
NSA's Dividend Yield is rather good when compared to the industry average which is at 5.69. NSA pays more dividend than 93.33% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 1.92, NSA pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.53% |
5.2 History
On average, the dividend of NSA grows each year by 10.15%, which is quite nice.
NSA has paid a dividend for at least 10 years, which is a reliable track record.
As NSA did not decrease their dividend in the past 5 years, we can say the dividend looks stable.
Dividend Growth(5Y)10.15%
Div Incr Years9
Div Non Decr Years9
5.3 Sustainability
413.84% of the earnings are spent on dividend by NSA. This is not a sustainable payout ratio.
NSA's earnings are declining while the Dividend Rate has been growing. This means the dividend growth is most likely not sustainable.
DP413.84%
EPS Next 2Y-24.58%
EPS Next 3Y-13.13%
31.38
+1.12 (+3.7%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)
Earnings (Next)
Inst Owners100.26%
Inst Owner Change0.02%
Ins Owners8%
Ins Owner Change0%
Market Cap2.42B
Revenue(TTM)756.02M
Net Income(TTM)47.11M
Analysts52.73
Price Target33.69 (7.36%)
Short Float %10.34%
Short Ratio6.11
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.53% |
Yearly Dividend2.42
Dividend Growth(5Y)10.15%
DP413.84%
Div Incr Years9
Div Non Decr Years9
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-6.67%
Min EPS beat(2)-8.98%
Max EPS beat(2)-4.37%
EPS beat(4)0
Avg EPS beat(4)-17.89%
Min EPS beat(4)-43.42%
Max EPS beat(4)-4.37%
EPS beat(8)3
Avg EPS beat(8)26.9%
EPS beat(12)4
Avg EPS beat(12)17.2%
EPS beat(16)4
Avg EPS beat(16)4.38%
Revenue beat(2)2
Avg Revenue beat(2)2.87%
Min Revenue beat(2)2.22%
Max Revenue beat(2)3.53%
Revenue beat(4)3
Avg Revenue beat(4)-0.3%
Min Revenue beat(4)-8.32%
Max Revenue beat(4)3.53%
Revenue beat(8)7
Avg Revenue beat(8)0.79%
Revenue beat(12)11
Avg Revenue beat(12)1.36%
Revenue beat(16)15
Avg Revenue beat(16)2.19%
PT rev (1m)-1.2%
PT rev (3m)-3.88%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-7.14%
EPS NY rev (1m)0%
EPS NY rev (3m)-13.9%
Revenue NQ rev (1m)1%
Revenue NQ rev (3m)1.06%
Revenue NY rev (1m)-0.01%
Revenue NY rev (3m)0.54%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 51.44 | ||
| Fwd PE | 48.39 | ||
| P/S | 3.19 | ||
| P/FCF | 9.58 | ||
| P/OCF | 6.98 | ||
| P/B | 2.48 | ||
| P/tB | 2.93 | ||
| EV/EBITDA | 12.29 |
EPS(TTM)0.61
EY1.94%
EPS(NY)0.65
Fwd EY2.07%
FCF(TTM)3.28
FCFY10.44%
OCF(TTM)4.49
OCFY14.32%
SpS9.82
BVpS12.64
TBVpS10.71
PEG (NY)N/A
PEG (5Y)N/A
Graham Number13.17
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.92% | ||
| ROE | 4.84% | ||
| ROCE | 5.6% | ||
| ROIC | 4.42% | ||
| ROICexc | 4.45% | ||
| ROICexgc | 4.59% | ||
| OM | 37.1% | ||
| PM (TTM) | 6.23% | ||
| GM | N/A | ||
| FCFM | 33.36% |
ROA(3y)1.84%
ROA(5y)1.63%
ROE(3y)7.87%
ROE(5y)6.49%
ROIC(3y)4.3%
ROIC(5y)3.88%
ROICexc(3y)4.34%
ROICexc(5y)3.91%
ROICexgc(3y)4.44%
ROICexgc(5y)3.99%
ROCE(3y)5.44%
ROCE(5y)4.91%
ROICexgc growth 3Y13.51%
ROICexgc growth 5Y6.59%
ROICexc growth 3Y12.74%
ROICexc growth 5Y6.15%
OM growth 3Y1.16%
OM growth 5Y3.36%
PM growth 3Y-9.08%
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score3
Asset Turnover0.15
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 3.5 | ||
| Debt/FCF | 13.5 | ||
| Debt/EBITDA | 7.22 | ||
| Cap/Depr | 49.09% | ||
| Cap/Sales | 12.39% | ||
| Interest Coverage | 1.8 | ||
| Cash Conversion | 73.39% | ||
| Profit Quality | 535.32% | ||
| Current Ratio | 0.4 | ||
| Quick Ratio | 0.4 | ||
| Altman-Z | 0.49 |
F-Score3
WACC7.08%
ROIC/WACC0.62
Cap/Depr(3y)113.11%
Cap/Depr(5y)407.79%
Cap/Sales(3y)31.49%
Cap/Sales(5y)110.85%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-64.33%
EPS 3Y6.27%
EPS 5YN/A
EPS Q2Q%-5.56%
EPS Next Y-44.01%
EPS Next 2Y-24.58%
EPS Next 3Y-13.13%
EPS Next 5YN/A
Revenue 1Y (TTM)-4.98%
Revenue growth 3Y9.57%
Revenue growth 5Y14.71%
Sales Q2Q%-2.54%
Revenue Next Year-2.73%
Revenue Next 2Y-0.83%
Revenue Next 3Y0.78%
Revenue Next 5Y3.19%
EBIT growth 1Y-9.67%
EBIT growth 3Y10.84%
EBIT growth 5Y18.56%
EBIT Next Year43.56%
EBIT Next 3Y14.24%
EBIT Next 5Y11.81%
FCF growth 1Y-31.1%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-21.67%
OCF growth 3Y3.09%
OCF growth 5Y13.05%
NATIONAL STORAGE AFFILIATES / NSA FAQ
What is the fundamental rating for NSA stock?
ChartMill assigns a fundamental rating of 3 / 10 to NSA.
What is the valuation status for NSA stock?
ChartMill assigns a valuation rating of 3 / 10 to NATIONAL STORAGE AFFILIATES (NSA). This can be considered as Overvalued.
What is the profitability of NSA stock?
NATIONAL STORAGE AFFILIATES (NSA) has a profitability rating of 4 / 10.
What are the PE and PB ratios of NATIONAL STORAGE AFFILIATES (NSA) stock?
The Price/Earnings (PE) ratio for NATIONAL STORAGE AFFILIATES (NSA) is 51.44 and the Price/Book (PB) ratio is 2.48.
Is the dividend of NATIONAL STORAGE AFFILIATES sustainable?
The dividend rating of NATIONAL STORAGE AFFILIATES (NSA) is 7 / 10 and the dividend payout ratio is 413.84%.