PS BUSINESS PARKS INC/MD (PSB) Fundamental Analysis & Valuation

NYSE:PSB • US69360J1079

Current stock price

187.44 USD
+0.06 (+0.03%)
At close:
187.5 USD
+0.06 (+0.03%)
After Hours:

This PSB fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

0

1. PSB Profitability Analysis

1.1 Basic Checks

  • In the past year PSB was profitable.
PSB Yearly Net Income VS EBIT VS OCF VS FCFPSB Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 100M 200M 300M 400M

1.2 Ratios

Industry RankSector Rank
ROA 22.65%
ROE 27.57%
ROIC N/A
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
PSB Yearly ROA, ROE, ROICPSB Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 5 10 15 20 25

1.3 Margins

Industry RankSector Rank
OM 43.31%
PM (TTM) 110.66%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
PSB Yearly Profit, Operating, Gross MarginsPSB Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 20 40 60 80 100

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3

2. PSB Health Analysis

2.1 Basic Checks

  • PSB does not have a ROIC to compare to the WACC, probably because it is not profitable.
  • Compared to 1 year ago, PSB has more shares outstanding
  • Compared to 1 year ago, PSB has a worse debt to assets ratio.
PSB Yearly Shares OutstandingPSB Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 5M 10M 15M 20M 25M
PSB Yearly Total Debt VS Total AssetsPSB Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 500M 1B 1.5B 2B

2.2 Solvency

  • PSB has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Altman-Z N/A
ROIC/WACCN/A
WACC7.54%
PSB Yearly LT Debt VS Equity VS FCFPSB Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 500M 1B 1.5B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A

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4

3. PSB Growth Analysis

3.1 Past

  • PSB shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -79.73%.
  • Measured over the past years, PSB shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -12.13% on average per year.
  • PSB shows a small growth in Revenue. In the last year, the Revenue has grown by 6.23%.
  • Measured over the past years, PSB shows a small growth in Revenue. The Revenue has been growing by 2.54% on average per year.
EPS 1Y (TTM)-79.73%
EPS 3Y-25.28%
EPS 5Y-12.13%
EPS Q2Q%-44.55%
Revenue 1Y (TTM)6.23%
Revenue growth 3Y1.99%
Revenue growth 5Y2.54%
Sales Q2Q%4.48%

3.2 Future

  • Based on estimates for the next years, PSB will show a very strong growth in Earnings Per Share. The EPS will grow by 34.79% on average per year.
  • The Revenue is expected to grow by 7.68% on average over the next years.
EPS Next Y203%
EPS Next 2Y84.09%
EPS Next 3Y54.52%
EPS Next 5Y34.79%
Revenue Next Year13.53%
Revenue Next 2Y9.73%
Revenue Next 3Y8.81%
Revenue Next 5Y7.68%

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 accelerating.
PSB Yearly Revenue VS EstimatesPSB Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 100M 200M 300M 400M 500M
PSB Yearly EPS VS EstimatesPSB Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3 4 5

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1

4. PSB Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 246.63 indicates a quite expensive valuation of PSB.
  • The average S&P500 Price/Earnings ratio is at 26.91. PSB is valued rather expensively when compared to this.
  • With a Price/Forward Earnings ratio of 45.71, PSB can be considered very expensive at the moment.
  • PSB's Price/Forward Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 23.69.
Industry RankSector Rank
PE 246.63
Fwd PE 45.71
PSB Price Earnings VS Forward Price EarningsPSB Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 50 100 150 200

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA 17.76
PSB Per share dataPSB EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60

4.3 Compensation for Growth

  • PSB's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • A more expensive valuation may be justified as PSB's earnings are expected to grow with 54.52% in the coming years.
PEG (NY)1.21
PEG (5Y)N/A
EPS Next 2Y84.09%
EPS Next 3Y54.52%

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3

5. PSB Dividend Analysis

5.1 Amount

  • PSB has a yearly dividend return of 0.46%, which is pretty low.
  • With a Dividend Yield of 0.46, PSB pays less dividend than the S&P500 average, which is at 1.89.
Industry RankSector Rank
Dividend Yield 0.46%

5.2 History

  • The dividend of PSB has a limited annual growth rate of 3.39%.
  • PSB has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)3.39%
Div Incr YearsN/A
Div Non Decr YearsN/A
PSB Yearly Dividends per sharePSB Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2 4 6 8

5.3 Sustainability

  • 58.46% of the earnings are spent on dividend by PSB. This is a bit on the high side, but may be sustainable.
  • The dividend of PSB is growing, but earnings are growing more, so the dividend growth is sustainable.
DP58.46%
EPS Next 2Y84.09%
EPS Next 3Y54.52%
PSB Yearly Income VS Free CF VS DividendPSB Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 100M 200M 300M 400M
PSB Dividend Payout.PSB Dividend Payout, showing the Payout Ratio.PSB Dividend Payout.PayoutRetained Earnings

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PSB Fundamentals: All Metrics, Ratios and Statistics

PS BUSINESS PARKS INC/MD

NYSE:PSB (7/19/2022, 8:09:04 PM)

After market: 187.5 +0.06 (+0.03%)

187.44

+0.06 (+0.03%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)05-02
Earnings (Next)08-02
Inst Owners0.02%
Inst Owner Change0%
Ins Owners26.4%
Ins Owner Change0%
Market Cap5.18B
Revenue(TTM)443.49M
Net Income(TTM)490.76M
Analysts45
Price Target191.76 (2.3%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.46%
Yearly Dividend4.2
Dividend Growth(5Y)3.39%
DP58.46%
Div Incr YearsN/A
Div Non Decr YearsN/A
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)N/A
PT rev (3m)N/A
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)N/A
EPS NY rev (3m)N/A
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)N/A
Revenue NY rev (3m)N/A
Valuation
Industry RankSector Rank
PE 246.63
Fwd PE 45.71
P/S 11.68
P/FCF N/A
P/OCF N/A
P/B 2.91
P/tB N/A
EV/EBITDA 17.76
EPS(TTM)0.76
EY0.41%
EPS(NY)4.1
Fwd EY2.19%
FCF(TTM)N/A
FCFYN/A
OCF(TTM)N/A
OCFYN/A
SpS16.05
BVpS64.42
TBVpSN/A
PEG (NY)1.21
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA 22.65%
ROE 27.57%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM 43.31%
PM (TTM) 110.66%
GM N/A
FCFM N/A
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3Y0%
ROICexgc growth 5Y0%
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score6
Asset Turnover0.2
Health
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score6
WACC7.54%
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-79.73%
EPS 3Y-25.28%
EPS 5Y-12.13%
EPS Q2Q%-44.55%
EPS Next Y203%
EPS Next 2Y84.09%
EPS Next 3Y54.52%
EPS Next 5Y34.79%
Revenue 1Y (TTM)6.23%
Revenue growth 3Y1.99%
Revenue growth 5Y2.54%
Sales Q2Q%4.48%
Revenue Next Year13.53%
Revenue Next 2Y9.73%
Revenue Next 3Y8.81%
Revenue Next 5Y7.68%
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1YN/A
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1YN/A
OCF growth 3YN/A
OCF growth 5YN/A

PS BUSINESS PARKS INC/MD / PSB Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for PS BUSINESS PARKS INC/MD?

ChartMill assigns a fundamental rating of 5 / 10 to PSB.


Can you provide the valuation status for PS BUSINESS PARKS INC/MD?

ChartMill assigns a valuation rating of 2 / 10 to PS BUSINESS PARKS INC/MD (PSB). This can be considered as Overvalued.


Can you provide the profitability details for PS BUSINESS PARKS INC/MD?

PS BUSINESS PARKS INC/MD (PSB) has a profitability rating of 8 / 10.


What is the valuation of PS BUSINESS PARKS INC/MD based on its PE and PB ratios?

The Price/Earnings (PE) ratio for PS BUSINESS PARKS INC/MD (PSB) is 246.63 and the Price/Book (PB) ratio is 2.91.


What is the expected EPS growth for PS BUSINESS PARKS INC/MD (PSB) stock?

The Earnings per Share (EPS) of PS BUSINESS PARKS INC/MD (PSB) is expected to grow by 203% in the next year.