REXFORD INDUSTRIAL REALTY IN (REXR) Stock Fundamental Analysis
NYSE:REXR - New York Stock Exchange, Inc. - US76169C1009 - REIT - Currency: USD
We assign a fundamental rating of 6 out of 10 to REXR. REXR was compared to 129 industry peers in the Diversified REITs industry. While REXR has a great profitability rating, there are some minor concerns on its financial health. REXR is valued quite expensive, but it does show an excellent growth. With these ratings, REXR could be worth investigating further for growth investing!.
1. Profitability
1.1 Basic Checks
REXR had positive earnings in the past year.
REXR had a positive operating cash flow in the past year.
REXR had positive earnings in each of the past 5 years.
Each year in the past 5 years REXR had a positive operating cash flow.
1.2 Ratios
Looking at the Return On Assets, with a value of 2.08%, REXR is in the better half of the industry, outperforming 68.22% of the companies in the same industry.
Looking at the Return On Equity, with a value of 3.10%, REXR is in line with its industry, outperforming 59.69% of the companies in the same industry.
REXR has a Return On Invested Capital of 2.35%. This is comparable to the rest of the industry: REXR outperforms 41.86% of its industry peers.
REXR had an Average Return On Invested Capital over the past 3 years of 2.16%. This is in line with the industry average of 3.15%.
The last Return On Invested Capital (2.35%) for REXR is above the 3 year average (2.16%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.08% | ||
| ROE | 3.1% | ||
| ROIC | 2.35% |
ROA(3y)1.95%
ROA(5y)1.75%
ROE(3y)2.83%
ROE(5y)2.54%
ROIC(3y)2.16%
ROIC(5y)1.96%
1.3 Margins
REXR has a better Profit Margin (27.97%) than 85.27% of its industry peers.
REXR's Profit Margin has improved in the last couple of years.
REXR's Operating Margin of 38.90% is amongst the best of the industry. REXR outperforms 85.27% of its industry peers.
REXR's Operating Margin has improved in the last couple of years.
REXR has a better Gross Margin (77.63%) than 75.97% of its industry peers.
In the last couple of years the Gross Margin of REXR has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 38.9% | ||
| PM (TTM) | 27.97% | ||
| GM | 77.63% |
OM growth 3Y7.26%
OM growth 5Y7.06%
PM growth 3Y4.32%
PM growth 5Y8.23%
GM growth 3Y0.59%
GM growth 5Y0.32%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so REXR is destroying value.
REXR has more shares outstanding than it did 1 year ago.
REXR has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, REXR has a worse debt to assets ratio.
2.2 Solvency
REXR has an Altman-Z score of 1.31. This is a bad value and indicates that REXR is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of REXR (1.31) is better than 87.60% of its industry peers.
REXR has a debt to FCF ratio of 25.57. This is a negative value and a sign of low solvency as REXR would need 25.57 years to pay back of all of its debts.
REXR's Debt to FCF ratio of 25.57 is fine compared to the rest of the industry. REXR outperforms 72.87% of its industry peers.
A Debt/Equity ratio of 0.38 indicates that REXR is not too dependend on debt financing.
REXR has a Debt to Equity ratio of 0.38. This is amongst the best in the industry. REXR outperforms 95.35% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.38 | ||
| Debt/FCF | 25.57 | ||
| Altman-Z | 1.31 |
ROIC/WACC0.32
WACC7.33%
2.3 Liquidity
A Current Ratio of 1.50 indicates that REXR should not have too much problems paying its short term obligations.
REXR has a Current ratio of 1.50. This is in the better half of the industry: REXR outperforms 70.54% of its industry peers.
REXR has a Quick Ratio of 1.50. This is a normal value and indicates that REXR is financially healthy and should not expect problems in meeting its short term obligations.
The Quick ratio of REXR (1.50) is better than 71.32% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.5 | ||
| Quick Ratio | 1.5 |
3. Growth
3.1 Past
REXR shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 13.76%, which is quite good.
The Earnings Per Share has been growing by 20.82% on average over the past years. This is a very strong growth
REXR shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 18.03%.
The Revenue has been growing by 28.51% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)13.76%
EPS 3Y14.79%
EPS 5Y20.82%
EPS Q2Q%11.11%
Revenue 1Y (TTM)18.03%
Revenue growth 3Y27.46%
Revenue growth 5Y28.51%
Sales Q2Q%17.84%
3.2 Future
The Earnings Per Share is expected to grow by 11.12% on average over the next years. This is quite good.
The Revenue is expected to grow by 9.15% on average over the next years. This is quite good.
EPS Next Y-3.34%
EPS Next 2Y3.06%
EPS Next 3Y13.29%
EPS Next 5Y11.12%
Revenue Next Year8.34%
Revenue Next 2Y8.4%
Revenue Next 3Y9.1%
Revenue Next 5Y9.15%
3.3 Evolution
The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past 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
A Price/Earnings ratio of 28.42 indicates a quite expensive valuation of REXR.
Based on the Price/Earnings ratio, REXR is valued a bit cheaper than the industry average as 65.89% of the companies are valued more expensively.
REXR's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 26.25.
The Price/Forward Earnings ratio is 27.42, which means the current valuation is very expensive for REXR.
Based on the Price/Forward Earnings ratio, REXR is valued a bit cheaper than 79.07% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of REXR to the average of the S&P500 Index (22.15), we can say REXR is valued slightly more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 28.42 | ||
| Fwd PE | 27.42 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of REXR indicates a slightly more expensive valuation: REXR is more expensive than 69.77% of the companies listed in the same industry.
REXR's Price/Free Cash Flow ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 63.71 | ||
| EV/EBITDA | 16.6 |
4.3 Compensation for Growth
The decent profitability rating of REXR may justify a higher PE ratio.
REXR's earnings are expected to grow with 13.29% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)1.37
EPS Next 2Y3.06%
EPS Next 3Y13.29%
5. Dividend
5.1 Amount
REXR has a Yearly Dividend Yield of 4.98%, which is a nice return.
Compared to an average industry Dividend Yield of 6.93, REXR has a dividend in line with its industry peers.
REXR's Dividend Yield is rather good when compared to the S&P500 average which is at 2.40.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.98% |
5.2 History
The dividend of REXR is nicely growing with an annual growth rate of 15.33%!
REXR has paid a dividend for at least 10 years, which is a reliable track record.
As REXR did not decrease their dividend in the past 5 years, we can say the dividend looks stable.
Dividend Growth(5Y)15.33%
Div Incr Years6
Div Non Decr Years6
5.3 Sustainability
144.27% of the earnings are spent on dividend by REXR. This is not a sustainable payout ratio.
REXR's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP144.27%
EPS Next 2Y3.06%
EPS Next 3Y13.29%
35.24
-0.08 (-0.23%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners116.05%
Inst Owner Change4.14%
Ins Owners0.1%
Ins Owner Change-0.1%
Market Cap8.34B
Analysts73.91
Price Target40.29 (14.33%)
Short Float %3.86%
Short Ratio3.34
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.98% |
Yearly Dividend1.73
Dividend Growth(5Y)15.33%
DP144.27%
Div Incr Years6
Div Non Decr Years6
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)4.3%
Min EPS beat(2)-1.35%
Max EPS beat(2)9.95%
EPS beat(4)3
Avg EPS beat(4)11.99%
Min EPS beat(4)-1.35%
Max EPS beat(4)33.36%
EPS beat(8)4
Avg EPS beat(8)6.19%
EPS beat(12)5
Avg EPS beat(12)5.51%
EPS beat(16)9
Avg EPS beat(16)18.97%
Revenue beat(2)1
Avg Revenue beat(2)-0.54%
Min Revenue beat(2)-2.15%
Max Revenue beat(2)1.06%
Revenue beat(4)2
Avg Revenue beat(4)-0.26%
Min Revenue beat(4)-2.15%
Max Revenue beat(4)1.2%
Revenue beat(8)4
Avg Revenue beat(8)-0.01%
Revenue beat(12)5
Avg Revenue beat(12)-0.38%
Revenue beat(16)6
Avg Revenue beat(16)-0.44%
PT rev (1m)-4.68%
PT rev (3m)-12.34%
EPS NQ rev (1m)-3.45%
EPS NQ rev (3m)-2.33%
EPS NY rev (1m)-5.86%
EPS NY rev (3m)-6.27%
Revenue NQ rev (1m)-0.39%
Revenue NQ rev (3m)-1.79%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-2.37%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 28.42 | ||
| Fwd PE | 27.42 | ||
| P/S | 8.56 | ||
| P/FCF | 63.71 | ||
| P/OCF | 16.76 | ||
| P/B | 0.95 | ||
| P/tB | 0.97 | ||
| EV/EBITDA | 16.6 |
EPS(TTM)1.24
EY3.52%
EPS(NY)1.29
Fwd EY3.65%
FCF(TTM)0.55
FCFY1.57%
OCF(TTM)2.1
OCFY5.97%
SpS4.12
BVpS37.19
TBVpS36.4
PEG (NY)N/A
PEG (5Y)1.37
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.08% | ||
| ROE | 3.1% | ||
| ROCE | 2.97% | ||
| ROIC | 2.35% | ||
| ROICexc | 2.45% | ||
| ROICexgc | 2.5% | ||
| OM | 38.9% | ||
| PM (TTM) | 27.97% | ||
| GM | 77.63% | ||
| FCFM | 13.43% |
ROA(3y)1.95%
ROA(5y)1.75%
ROE(3y)2.83%
ROE(5y)2.54%
ROIC(3y)2.16%
ROIC(5y)1.96%
ROICexc(3y)2.17%
ROICexc(5y)1.98%
ROICexgc(3y)2.22%
ROICexgc(5y)2.03%
ROCE(3y)2.73%
ROCE(5y)2.48%
ROICexcg growth 3Y10.95%
ROICexcg growth 5Y6.84%
ROICexc growth 3Y11.09%
ROICexc growth 5Y6.95%
OM growth 3Y7.26%
OM growth 5Y7.06%
PM growth 3Y4.32%
PM growth 5Y8.23%
GM growth 3Y0.59%
GM growth 5Y0.32%
F-Score8
Asset Turnover0.07
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.38 | ||
| Debt/FCF | 25.57 | ||
| Debt/EBITDA | 4.96 | ||
| Cap/Depr | 124.04% | ||
| Cap/Sales | 37.63% | ||
| Interest Coverage | 3.86 | ||
| Cash Conversion | 73.75% | ||
| Profit Quality | 48.03% | ||
| Current Ratio | 1.5 | ||
| Quick Ratio | 1.5 | ||
| Altman-Z | 1.31 |
F-Score8
WACC7.33%
ROIC/WACC0.32
Cap/Depr(3y)104.9%
Cap/Depr(5y)90.16%
Cap/Sales(3y)31.7%
Cap/Sales(5y)28.33%
Profit Quality(3y)77.21%
Profit Quality(5y)103.4%
High Growth Momentum
Growth
EPS 1Y (TTM)13.76%
EPS 3Y14.79%
EPS 5Y20.82%
EPS Q2Q%11.11%
EPS Next Y-3.34%
EPS Next 2Y3.06%
EPS Next 3Y13.29%
EPS Next 5Y11.12%
Revenue 1Y (TTM)18.03%
Revenue growth 3Y27.46%
Revenue growth 5Y28.51%
Sales Q2Q%17.84%
Revenue Next Year8.34%
Revenue Next 2Y8.4%
Revenue Next 3Y9.1%
Revenue Next 5Y9.15%
EBIT growth 1Y22.37%
EBIT growth 3Y36.72%
EBIT growth 5Y37.58%
EBIT Next Year90.14%
EBIT Next 3Y30.96%
EBIT Next 5Y24.21%
FCF growth 1Y-35.7%
FCF growth 3Y-6.47%
FCF growth 5Y2.71%
OCF growth 1Y39.96%
OCF growth 3Y27.43%
OCF growth 5Y27.98%