SL GREEN REALTY CORP (SLG) Stock Fundamental Analysis
NYSE:SLG - New York Stock Exchange, Inc. - US78440X8873 - REIT - Currency: USD
Taking everything into account, SLG scores 2 out of 10 in our fundamental rating. SLG was compared to 130 industry peers in the Diversified REITs industry. Both the profitability and financial health of SLG have multiple concerns. SLG is valued expensive and it does not seem to be growing.
1. Profitability
1.1 Basic Checks
SLG had negative earnings in the past year.
In the past year SLG had a positive cash flow from operations.
In multiple years SLG reported negative net income over the last 5 years.
In the past 5 years SLG always reported a positive cash flow from operatings.
1.2 Ratios
Looking at the Return On Assets, with a value of -0.25%, SLG is doing worse than 60.77% of the companies in the same industry.
SLG has a Return On Equity of -0.72%. This is in the lower half of the industry: SLG underperforms 60.77% of its industry peers.
SLG has a Return On Invested Capital of 1.37%. This is amonst the worse of the industry: SLG underperforms 80.77% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for SLG is below the industry average of 3.16%.
The 3 year average ROIC (1.02%) for SLG is below the current ROIC(1.37%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -0.25% | ||
| ROE | -0.72% | ||
| ROIC | 1.37% |
ROA(3y)-2.28%
ROA(5y)0.02%
ROE(3y)-5.53%
ROE(5y)-0.18%
ROIC(3y)1.02%
ROIC(5y)1.22%
1.3 Margins
In the last couple of years the Profit Margin of SLG has declined.
Looking at the Operating Margin, with a value of 19.19%, SLG is in line with its industry, outperforming 43.85% of the companies in the same industry.
SLG's Operating Margin has declined in the last couple of years.
With a Gross Margin value of 49.52%, SLG is not doing good in the industry: 78.46% of the companies in the same industry are doing better.
SLG's Gross Margin has declined in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 19.19% | ||
| PM (TTM) | N/A | ||
| GM | 49.52% |
OM growth 3Y-9.66%
OM growth 5Y-13.77%
PM growth 3Y-77.51%
PM growth 5Y-51%
GM growth 3Y-6.16%
GM growth 5Y-5.02%
2. Health
2.1 Basic Checks
SLG 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 SLG has been increased compared to 1 year ago.
The number of shares outstanding for SLG has been reduced compared to 5 years ago.
The debt/assets ratio for SLG has been reduced compared to a year ago.
2.2 Solvency
SLG has an Altman-Z score of 0.37. This is a bad value and indicates that SLG is not financially healthy and even has some risk of bankruptcy.
SLG has a Altman-Z score (0.37) which is comparable to the rest of the industry.
A Debt/Equity ratio of 0.98 indicates that SLG is somewhat dependend on debt financing.
The Debt to Equity ratio of SLG (0.98) is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.98 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.37 |
ROIC/WACC0.19
WACC7.19%
2.3 Liquidity
SLG has a Current Ratio of 0.50. This is a bad value and indicates that SLG is not financially healthy enough and could expect problems in meeting its short term obligations.
The Current ratio of SLG (0.50) is worse than 79.23% of its industry peers.
A Quick Ratio of 0.50 indicates that SLG may have some problems paying its short term obligations.
SLG has a worse Quick ratio (0.50) than 78.46% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.5 | ||
| Quick Ratio | 0.5 |
3. Growth
3.1 Past
SLG shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 89.01%, which is quite impressive.
SLG shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -52.38% yearly.
The Revenue has been growing slightly by 6.86% in the past year.
The Revenue has been decreasing by -6.48% on average over the past years.
EPS 1Y (TTM)89.01%
EPS 3Y-77.07%
EPS 5Y-52.38%
EPS Q2Q%-250%
Revenue 1Y (TTM)6.86%
Revenue growth 3Y1.64%
Revenue growth 5Y-6.48%
Sales Q2Q%2.13%
3.2 Future
Based on estimates for the next years, SLG will show a very negative growth in Earnings Per Share. The EPS will decrease by -79.31% on average per year.
SLG is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.70% yearly.
EPS Next Y-1602.37%
EPS Next 2Y-284.48%
EPS Next 3Y-164.66%
EPS Next 5Y-79.31%
Revenue Next Year8.85%
Revenue Next 2Y5.6%
Revenue Next 3Y5.65%
Revenue Next 5Y4.7%
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 accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
SLG reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Also next year SLG is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | N/A |
4.2 Price Multiples
84.62% of the companies in the same industry are cheaper than SLG, based on the Enterprise Value to EBITDA ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 19.95 |
4.3 Compensation for Growth
SLG's earnings are expected to decrease with -164.66% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-284.48%
EPS Next 3Y-164.66%
5. Dividend
5.1 Amount
SLG has a Yearly Dividend Yield of 4.99%, which is a nice return.
SLG's Dividend Yield is comparable with the industry average which is at 6.66.
Compared to an average S&P500 Dividend Yield of 2.38, SLG pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.99% |
5.2 History
The dividend of SLG decreases each year by -3.64%.
SLG has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)-3.64%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
The earnings of SLG are negative and hence is the payout ratio. SLG will probably not be able to sustain this dividend level.
The Dividend Rate of SLG has been decling, while earnings will also be declining. This means the current dividend is most likely not sustainable.
DP-776%
EPS Next 2Y-284.48%
EPS Next 3Y-164.66%
61.87
-0.43 (-0.69%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners89.74%
Inst Owner Change0.57%
Ins Owners0.07%
Ins Owner Change3.2%
Market Cap4.39B
Analysts67.62
Price Target64.9 (4.9%)
Short Float %10.32%
Short Ratio7.84
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.99% |
Yearly Dividend3.22
Dividend Growth(5Y)-3.64%
DP-776%
Div Incr Years0
Div Non Decr Years0
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)90.65%
Min EPS beat(2)33.62%
Max EPS beat(2)147.67%
EPS beat(4)4
Avg EPS beat(4)77.13%
Min EPS beat(4)33.62%
Max EPS beat(4)147.67%
EPS beat(8)5
Avg EPS beat(8)8.52%
EPS beat(12)6
Avg EPS beat(12)-974.6%
EPS beat(16)9
Avg EPS beat(16)161.92%
Revenue beat(2)1
Avg Revenue beat(2)29.95%
Min Revenue beat(2)-6.71%
Max Revenue beat(2)66.61%
Revenue beat(4)2
Avg Revenue beat(4)15.74%
Min Revenue beat(4)-6.71%
Max Revenue beat(4)66.61%
Revenue beat(8)2
Avg Revenue beat(8)3.03%
Revenue beat(12)6
Avg Revenue beat(12)8.71%
Revenue beat(16)10
Avg Revenue beat(16)10.38%
PT rev (1m)0.69%
PT rev (3m)-9.34%
EPS NQ rev (1m)17.5%
EPS NQ rev (3m)57.91%
EPS NY rev (1m)20.84%
EPS NY rev (3m)27.88%
Revenue NQ rev (1m)2.84%
Revenue NQ rev (3m)2.53%
Revenue NY rev (1m)1.12%
Revenue NY rev (3m)-0.86%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | N/A | ||
| P/S | 4.68 | ||
| P/FCF | N/A | ||
| P/OCF | 27.3 | ||
| P/B | 1.09 | ||
| P/tB | 1.15 | ||
| EV/EBITDA | 19.95 |
EPS(TTM)-0.42
EYN/A
EPS(NY)-1.02
Fwd EYN/A
FCF(TTM)-2.57
FCFYN/A
OCF(TTM)2.27
OCFY3.66%
SpS13.21
BVpS56.78
TBVpS53.95
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -0.25% | ||
| ROE | -0.72% | ||
| ROCE | 1.73% | ||
| ROIC | 1.37% | ||
| ROICexc | 1.39% | ||
| ROICexgc | 1.49% | ||
| OM | 19.19% | ||
| PM (TTM) | N/A | ||
| GM | 49.52% | ||
| FCFM | N/A |
ROA(3y)-2.28%
ROA(5y)0.02%
ROE(3y)-5.53%
ROE(5y)-0.18%
ROIC(3y)1.02%
ROIC(5y)1.22%
ROICexc(3y)1.04%
ROICexc(5y)1.25%
ROICexgc(3y)1.1%
ROICexgc(5y)1.31%
ROCE(3y)1.29%
ROCE(5y)1.54%
ROICexcg growth 3Y-5.93%
ROICexcg growth 5Y-14.54%
ROICexc growth 3Y-7.19%
ROICexc growth 5Y-15.22%
OM growth 3Y-9.66%
OM growth 5Y-13.77%
PM growth 3Y-77.51%
PM growth 5Y-51%
GM growth 3Y-6.16%
GM growth 5Y-5.02%
F-Score5
Asset Turnover0.08
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.98 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 9.68 | ||
| Cap/Depr | 149.15% | ||
| Cap/Sales | 36.58% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 39.25% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.5 | ||
| Quick Ratio | 0.5 | ||
| Altman-Z | 0.37 |
F-Score5
WACC7.19%
ROIC/WACC0.19
Cap/Depr(3y)121.42%
Cap/Depr(5y)146.22%
Cap/Sales(3y)30.68%
Cap/Sales(5y)39.55%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)89.01%
EPS 3Y-77.07%
EPS 5Y-52.38%
EPS Q2Q%-250%
EPS Next Y-1602.37%
EPS Next 2Y-284.48%
EPS Next 3Y-164.66%
EPS Next 5Y-79.31%
Revenue 1Y (TTM)6.86%
Revenue growth 3Y1.64%
Revenue growth 5Y-6.48%
Sales Q2Q%2.13%
Revenue Next Year8.85%
Revenue Next 2Y5.6%
Revenue Next 3Y5.65%
Revenue Next 5Y4.7%
EBIT growth 1Y157.52%
EBIT growth 3Y-8.17%
EBIT growth 5Y-19.36%
EBIT Next Year55.35%
EBIT Next 3Y18.21%
EBIT Next 5Y-5.62%
FCF growth 1Y-41.83%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-32.08%
OCF growth 3Y-20.3%
OCF growth 5Y-19.21%