REXFORD INDUSTRIAL REALTY IN (REXR) Stock Fundamental Analysis
NYSE:REXR - US76169C1009 - REIT
41.78 USD
+1.77 (+4.42%)
41.85 USD
+0.07 (+0.17%)
We assign a fundamental rating of 5 out of 10 to REXR. REXR was compared to 129 industry peers in the Diversified REITs industry. While REXR belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. REXR is valied quite expensively at the moment, while it does show a decent growth rate.
1. Profitability
1.1 Basic Checks
REXR had positive earnings in the past year.
In the past year REXR had a positive cash flow from operations.
REXR had positive earnings in each of the past 5 years.
In the past 5 years REXR always reported a positive cash flow from operatings.
1.2 Ratios
With a decent Return On Assets value of 2.34%, REXR is doing good in the industry, outperforming 68.99% of the companies in the same industry.
REXR has a Return On Equity of 3.47%. This is comparable to the rest of the industry: REXR outperforms 58.14% of its industry peers.
The Return On Invested Capital of REXR (2.38%) is comparable to the rest of the industry.
The Average Return On Invested Capital over the past 3 years for REXR is in line with the industry average of 3.06%.
The last Return On Invested Capital (2.38%) for REXR is above the 3 year average (2.16%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.34% | ||
| ROE | 3.47% | ||
| ROIC | 2.38% |
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
Looking at the Profit Margin, with a value of 31.04%, REXR belongs to the top of the industry, outperforming 86.05% of the companies in the same industry.
In the last couple of years the Profit Margin of REXR has grown nicely.
The Operating Margin of REXR (38.89%) is better than 84.50% of its industry peers.
REXR's Operating Margin has improved in the last couple of years.
With a decent Gross Margin value of 77.55%, REXR is doing good in the industry, outperforming 75.97% of the companies in the same industry.
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 | 38.89% | ||
| PM (TTM) | 31.04% | ||
| GM | 77.55% |
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
REXR has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
REXR has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, REXR has more shares outstanding
The debt/assets ratio for REXR is higher compared to a year ago.
2.2 Solvency
REXR has an Altman-Z score of 1.47. This is a bad value and indicates that REXR is not financially healthy and even has some risk of bankruptcy.
REXR has a Altman-Z score of 1.47. This is amongst the best in the industry. REXR outperforms 90.70% of its industry peers.
The Debt to FCF ratio of REXR is 21.81, which is on the high side as it means it would take REXR, 21.81 years of fcf income to pay off all of its debts.
REXR has a Debt to FCF ratio of 21.81. This is in the better half of the industry: REXR outperforms 74.42% of its industry peers.
A Debt/Equity ratio of 0.38 indicates that REXR is not too dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.38, REXR belongs to the top of the industry, outperforming 95.35% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.38 | ||
| Debt/FCF | 21.81 | ||
| Altman-Z | 1.47 |
ROIC/WACC0.32
WACC7.41%
2.3 Liquidity
A Current Ratio of 1.34 indicates that REXR should not have too much problems paying its short term obligations.
REXR has a Current ratio (1.34) which is in line with its industry peers.
REXR has a Quick Ratio of 1.34. 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 (1.34) is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.34 | ||
| Quick Ratio | 1.34 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 12.50% over the past year.
REXR shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 20.82% yearly.
Looking at the last year, REXR shows a quite strong growth in Revenue. The Revenue has grown by 13.72% in the last year.
The Revenue has been growing by 28.51% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)12.5%
EPS 3Y14.79%
EPS 5Y20.82%
EPS Q2Q%29.73%
Revenue 1Y (TTM)13.72%
Revenue growth 3Y27.46%
Revenue growth 5Y28.51%
Sales Q2Q%3.69%
3.2 Future
The Earnings Per Share is expected to grow by 11.12% on average over the next years. This is quite good.
REXR is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 7.48% yearly.
EPS Next Y-1.37%
EPS Next 2Y-4.14%
EPS Next 3Y3.45%
EPS Next 5Y11.12%
Revenue Next Year7.92%
Revenue Next 2Y7.08%
Revenue Next 3Y6.53%
Revenue Next 5Y7.48%
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.
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 30.95, REXR can be considered very expensive at the moment.
REXR's Price/Earnings ratio is a bit cheaper when compared to the industry. REXR is cheaper than 65.12% of the companies in the same industry.
When comparing the Price/Earnings ratio of REXR to the average of the S&P500 Index (27.08), we can say REXR is valued inline with the index average.
With a Price/Forward Earnings ratio of 37.58, REXR can be considered very expensive at the moment.
Based on the Price/Forward Earnings ratio, REXR is valued a bit cheaper than the industry average as 68.99% of the companies are valued more expensively.
REXR is valuated expensively when we compare the Price/Forward Earnings ratio to 22.67, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 30.95 | ||
| Fwd PE | 37.58 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, REXR is valued a bit more expensive than 79.07% of the companies in the same industry.
The rest of the industry has a similar Price/Free Cash Flow ratio as REXR.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 64.42 | ||
| EV/EBITDA | 18.14 |
4.3 Compensation for Growth
REXR has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)1.49
EPS Next 2Y-4.14%
EPS Next 3Y3.45%
5. Dividend
5.1 Amount
REXR has a Yearly Dividend Yield of 4.40%, which is a nice return.
REXR's Dividend Yield is comparable with the industry average which is at 6.31.
REXR's Dividend Yield is rather good when compared to the S&P500 average which is at 2.34.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.4% |
5.2 History
The dividend of REXR is nicely growing with an annual growth rate of 15.33%!
REXR has been paying a dividend for at least 10 years, so it has a reliable track record.
REXR has not decreased its dividend in the past 5 years, so it has a somewhat stable track record.
Dividend Growth(5Y)15.33%
Div Incr Years6
Div Non Decr Years6
5.3 Sustainability
131.83% 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.
DP131.83%
EPS Next 2Y-4.14%
EPS Next 3Y3.45%
41.78
+1.77 (+4.42%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners114.81%
Inst Owner Change-3.98%
Ins Owners0.09%
Ins Owner Change8.34%
Market Cap9.89B
Analysts74.78
Price Target40.66 (-2.68%)
Short Float %7.23%
Short Ratio6
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.4% |
Yearly Dividend1.73
Dividend Growth(5Y)15.33%
DP131.83%
Div Incr Years6
Div Non Decr Years6
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)45.47%
Min EPS beat(2)9.95%
Max EPS beat(2)81%
EPS beat(4)3
Avg EPS beat(4)23.9%
Min EPS beat(4)-1.35%
Max EPS beat(4)81%
EPS beat(8)5
Avg EPS beat(8)16.56%
EPS beat(12)6
Avg EPS beat(12)13.1%
EPS beat(16)9
Avg EPS beat(16)20.07%
Revenue beat(2)1
Avg Revenue beat(2)-1.9%
Min Revenue beat(2)-4.87%
Max Revenue beat(2)1.06%
Revenue beat(4)1
Avg Revenue beat(4)-1.78%
Min Revenue beat(4)-4.87%
Max Revenue beat(4)1.06%
Revenue beat(8)4
Avg Revenue beat(8)-0.32%
Revenue beat(12)5
Avg Revenue beat(12)-0.55%
Revenue beat(16)6
Avg Revenue beat(16)-0.67%
PT rev (1m)1.53%
PT rev (3m)0.93%
EPS NQ rev (1m)3.13%
EPS NQ rev (3m)-12.73%
EPS NY rev (1m)10.17%
EPS NY rev (3m)2.03%
Revenue NQ rev (1m)-0.51%
Revenue NQ rev (3m)-3.61%
Revenue NY rev (1m)-0.68%
Revenue NY rev (3m)-0.39%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 30.95 | ||
| Fwd PE | 37.58 | ||
| P/S | 10.02 | ||
| P/FCF | 64.42 | ||
| P/OCF | 18.86 | ||
| P/B | 1.12 | ||
| P/tB | 1.14 | ||
| EV/EBITDA | 18.14 |
EPS(TTM)1.35
EY3.23%
EPS(NY)1.11
Fwd EY2.66%
FCF(TTM)0.65
FCFY1.55%
OCF(TTM)2.21
OCFY5.3%
SpS4.17
BVpS37.34
TBVpS36.6
PEG (NY)N/A
PEG (5Y)1.49
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.34% | ||
| ROE | 3.47% | ||
| ROCE | 3.01% | ||
| ROIC | 2.38% | ||
| ROICexc | 2.46% | ||
| ROICexgc | 2.51% | ||
| OM | 38.89% | ||
| PM (TTM) | 31.04% | ||
| GM | 77.55% | ||
| FCFM | 15.56% |
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 Turnover0.08
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.38 | ||
| Debt/FCF | 21.81 | ||
| Debt/EBITDA | 4.9 | ||
| Cap/Depr | 123.99% | ||
| Cap/Sales | 37.58% | ||
| Interest Coverage | 3.9 | ||
| Cash Conversion | 76.79% | ||
| Profit Quality | 50.12% | ||
| Current Ratio | 1.34 | ||
| Quick Ratio | 1.34 | ||
| Altman-Z | 1.47 |
F-Score8
WACC7.41%
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)12.5%
EPS 3Y14.79%
EPS 5Y20.82%
EPS Q2Q%29.73%
EPS Next Y-1.37%
EPS Next 2Y-4.14%
EPS Next 3Y3.45%
EPS Next 5Y11.12%
Revenue 1Y (TTM)13.72%
Revenue growth 3Y27.46%
Revenue growth 5Y28.51%
Sales Q2Q%3.69%
Revenue Next Year7.92%
Revenue Next 2Y7.08%
Revenue Next 3Y6.53%
Revenue Next 5Y7.48%
EBIT growth 1Y14.8%
EBIT growth 3Y36.72%
EBIT growth 5Y37.58%
EBIT Next Year89.85%
EBIT Next 3Y29.26%
EBIT Next 5Y22.3%
FCF growth 1Y-21.49%
FCF growth 3Y-6.47%
FCF growth 5Y2.71%
OCF growth 1Y42.64%
OCF growth 3Y27.43%
OCF growth 5Y27.98%