REXFORD INDUSTRIAL REALTY IN (REXR) Stock Fundamental Analysis
NYSE:REXR - New York Stock Exchange, Inc. - US76169C1009 - REIT - Currency: USD
Taking everything into account, REXR scores 6 out of 10 in our fundamental rating. REXR was compared to 130 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. While showing a medium growth rate, REXR is valued expensive at the moment.
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.
Each year in the past 5 years REXR has been profitable.
REXR had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
Looking at the Return On Assets, with a value of 2.34%, REXR is in the better half of the industry, outperforming 70.00% of the companies in the same industry.
REXR has a Return On Equity of 3.47%. This is in the better half of the industry: REXR outperforms 62.31% of its industry peers.
REXR has a Return On Invested Capital (2.38%) which is comparable to the rest of the industry.
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 3.17%.
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
The Profit Margin of REXR (31.04%) is better than 87.69% of its industry peers.
REXR's Profit Margin has improved in the last couple of years.
REXR has a better Operating Margin (38.89%) than 85.38% of its industry peers.
REXR's Operating Margin has improved in the last couple of years.
REXR's Gross Margin of 77.55% is fine compared to the rest of the industry. REXR outperforms 76.15% 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 | 38.89% | ||
| 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.
The number of shares outstanding for REXR has been increased compared to 1 year ago.
REXR has more shares outstanding than it did 5 years ago.
The debt/assets ratio for REXR is higher compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 1.39, we must say that REXR is in the distress zone and has some risk of bankruptcy.
With an excellent Altman-Z score value of 1.39, REXR belongs to the best of the industry, outperforming 88.46% of the companies in the same industry.
REXR has a debt to FCF ratio of 21.81. This is a negative value and a sign of low solvency as REXR would need 21.81 years to pay back of all of its debts.
REXR's Debt to FCF ratio of 21.81 is fine compared to the rest of the industry. REXR outperforms 76.92% of its industry peers.
A Debt/Equity ratio of 0.38 indicates that REXR is not too dependend on debt financing.
REXR has a better Debt to Equity ratio (0.38) than 95.38% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.38 | ||
| Debt/FCF | 21.81 | ||
| Altman-Z | 1.39 |
ROIC/WACC0.32
WACC7.33%
2.3 Liquidity
REXR has a Current 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.
REXR's Current ratio of 1.34 is fine compared to the rest of the industry. REXR outperforms 67.69% of 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.
REXR's Quick ratio of 1.34 is fine compared to the rest of the industry. REXR outperforms 68.46% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.34 | ||
| Quick Ratio | 1.34 |
3. Growth
3.1 Past
REXR shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 12.50%, 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
The Revenue has grown by 13.72% in the past year. This is quite good.
Measured over the past years, REXR shows a very strong growth in Revenue. The Revenue has been growing by 28.51% on average per year.
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.
Based on estimates for the next years, REXR will show a small growth in Revenue. The Revenue will grow by 7.48% on average per year.
EPS Next Y-10.48%
EPS Next 2Y-3.36%
EPS Next 3Y3.1%
EPS Next 5Y11.12%
Revenue Next Year8.66%
Revenue Next 2Y7.87%
Revenue Next 3Y7.93%
Revenue Next 5Y7.48%
3.3 Evolution
Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of 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
Based on the Price/Earnings ratio of 27.55, the valuation of REXR can be described as expensive.
Compared to the rest of the industry, the Price/Earnings ratio of REXR indicates a somewhat cheap valuation: REXR is cheaper than 64.62% of the companies listed in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 27.61, REXR is valued at the same level.
The Price/Forward Earnings ratio is 32.91, which means the current valuation is very expensive for REXR.
71.54% of the companies in the same industry are more expensive than REXR, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of REXR to the average of the S&P500 Index (37.13), we can say REXR is valued inline with the index average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 27.55 | ||
| Fwd PE | 32.91 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, REXR is valued a bit more expensive than the industry average as 74.62% of the companies are valued more cheaply.
REXR's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 57.35 | ||
| EV/EBITDA | 17.31 |
4.3 Compensation for Growth
REXR has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)1.32
EPS Next 2Y-3.36%
EPS Next 3Y3.1%
5. Dividend
5.1 Amount
REXR has a Yearly Dividend Yield of 6.48%, which is a nice return.
Compared to an average industry Dividend Yield of 6.41, REXR pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.32, REXR pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.48% |
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.
The dividend of REXR is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP131.83%
EPS Next 2Y-3.36%
EPS Next 3Y3.1%
37.19
-0.4 (-1.06%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners115.27%
Inst Owner Change-0.4%
Ins Owners0.09%
Ins Owner Change8.34%
Market Cap8.80B
Analysts74.17
Price Target40.05 (7.69%)
Short Float %6.27%
Short Ratio4.81
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.48% |
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)0.85%
PT rev (3m)-5.24%
EPS NQ rev (1m)-8.02%
EPS NQ rev (3m)-15.37%
EPS NY rev (1m)-1.82%
EPS NY rev (3m)-12.81%
Revenue NQ rev (1m)-0.24%
Revenue NQ rev (3m)-3.11%
Revenue NY rev (1m)0.39%
Revenue NY rev (3m)0.29%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 27.55 | ||
| Fwd PE | 32.91 | ||
| P/S | 8.92 | ||
| P/FCF | 57.35 | ||
| P/OCF | 16.79 | ||
| P/B | 1 | ||
| P/tB | 1.02 | ||
| EV/EBITDA | 17.31 |
EPS(TTM)1.35
EY3.63%
EPS(NY)1.13
Fwd EY3.04%
FCF(TTM)0.65
FCFY1.74%
OCF(TTM)2.21
OCFY5.96%
SpS4.17
BVpS37.34
TBVpS36.6
PEG (NY)N/A
PEG (5Y)1.32
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 | 1.39 |
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)12.5%
EPS 3Y14.79%
EPS 5Y20.82%
EPS Q2Q%29.73%
EPS Next Y-10.48%
EPS Next 2Y-3.36%
EPS Next 3Y3.1%
EPS Next 5Y11.12%
Revenue 1Y (TTM)13.72%
Revenue growth 3Y27.46%
Revenue growth 5Y28.51%
Sales Q2Q%3.69%
Revenue Next Year8.66%
Revenue Next 2Y7.87%
Revenue Next 3Y7.93%
Revenue Next 5Y7.48%
EBIT growth 1Y14.8%
EBIT growth 3Y36.72%
EBIT growth 5Y37.58%
EBIT Next Year90.14%
EBIT Next 3Y30.96%
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%