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SL GREEN REALTY CORP (SLG) Stock Fundamental Analysis

NYSE:SLG - New York Stock Exchange, Inc. - US78440X8873 - REIT - Currency: USD

54.34  -0.14 (-0.26%)

After market: 54.34 0 (0%)

Fundamental Rating

2

We assign a fundamental rating of 2 out of 10 to SLG. SLG was compared to 130 industry peers in the Diversified REITs industry. SLG has a bad profitability rating. Also its financial health evaluation is rather negative. SLG does not seem to be growing, but still is valued expensively.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

In the past year SLG has reported negative net income.
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.
SLG Yearly Net Income VS EBIT VS OCF VS FCFSLG Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -1B -2B

1.2 Ratios

Looking at the Return On Assets, with a value of 0.05%, SLG is doing worse than 60.77% of the companies in the same industry.
SLG has a worse Return On Equity (0.12%) than 60.00% of its industry peers.
SLG has a Return On Invested Capital of 1.16%. This is amonst the worse of the industry: SLG underperforms 83.85% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for SLG is below the industry average of 3.17%.
The last Return On Invested Capital (1.16%) for SLG is above the 3 year average (1.02%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 0.05%
ROE 0.12%
ROIC 1.16%
ROA(3y)-2.28%
ROA(5y)0.02%
ROE(3y)-5.53%
ROE(5y)-0.18%
ROIC(3y)1.02%
ROIC(5y)1.22%
SLG Yearly ROA, ROE, ROICSLG Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5 -10

1.3 Margins

SLG has a Profit Margin of 0.58%. This is comparable to the rest of the industry: SLG outperforms 41.54% of its industry peers.
SLG's Profit Margin has declined in the last couple of years.
SLG has a worse Operating Margin (15.63%) than 64.62% of its industry peers.
In the last couple of years the Operating Margin of SLG has declined.
SLG has a worse Gross Margin (48.70%) than 78.46% of its industry peers.
SLG's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 15.63%
PM (TTM) 0.58%
GM 48.7%
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%
SLG Yearly Profit, Operating, Gross MarginsSLG Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 -40 60 -60

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2

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), SLG is destroying value.
The number of shares outstanding for SLG has been increased compared to 1 year ago.
SLG has less shares outstanding than it did 5 years ago.
SLG has a better debt/assets ratio than last year.
SLG Yearly Shares OutstandingSLG Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M
SLG Yearly Total Debt VS Total AssetsSLG Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

2.2 Solvency

SLG has an Altman-Z score of 0.38. 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 (0.38) which is comparable to the rest of the industry.
SLG has a Debt/Equity ratio of 0.90. This is a neutral value indicating SLG is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.90, SLG is in the better half of the industry, outperforming 63.85% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.9
Debt/FCF N/A
Altman-Z 0.38
ROIC/WACC0.16
WACC7.21%
SLG Yearly LT Debt VS Equity VS FCFSLG Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B -2B 4B 6B 8B 10B

2.3 Liquidity

A Current Ratio of 0.51 indicates that SLG may have some problems paying its short term obligations.
SLG has a worse Current ratio (0.51) than 77.69% of its industry peers.
A Quick Ratio of 0.51 indicates that SLG may have some problems paying its short term obligations.
SLG has a Quick ratio of 0.51. This is in the lower half of the industry: SLG underperforms 76.92% of its industry peers.
Industry RankSector Rank
Current Ratio 0.51
Quick Ratio 0.51
SLG Yearly Current Assets VS Current LiabilitesSLG Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

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2

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.
Measured over the past years, SLG shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -52.38% on average per year.
The Revenue has decreased by -3.00% 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)-3%
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 -86.11% on average per year.
Based on estimates for the next years, SLG will show a small growth in Revenue. The Revenue will grow by 1.04% on average per year.
EPS Next Y-2051.82%
EPS Next 2Y-359.78%
EPS Next 3Y-165.71%
EPS Next 5Y-86.11%
Revenue Next Year7.17%
Revenue Next 2Y5.19%
Revenue Next 3Y5.23%
Revenue Next 5Y1.04%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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.
SLG Yearly Revenue VS EstimatesSLG Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 500M 1B 1.5B
SLG Yearly EPS VS EstimatesSLG Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 0 5 -5

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0

4. Valuation

4.1 Price/Earnings Ratio

SLG reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for SLG. No positive earnings are expected for the next year.
Industry RankSector Rank
PE N/A
Fwd PE N/A
SLG Price Earnings VS Forward Price EarningsSLG Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 50 -50 100 -100

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of SLG indicates a rather expensive valuation: SLG more expensive than 84.62% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 20.98
SLG Per share dataSLG EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30 40 50

4.3 Compensation for Growth

SLG's earnings are expected to decrease with -165.71% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-359.78%
EPS Next 3Y-165.71%

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4

5. Dividend

5.1 Amount

SLG has a Yearly Dividend Yield of 5.67%, which is a nice return.
Compared to an average industry Dividend Yield of 16.90, SLG has a dividend in line with its industry peers.
SLG's Dividend Yield is rather good when compared to the S&P500 average which is at 2.47.
Industry RankSector Rank
Dividend Yield 5.67%

5.2 History

The dividend of SLG decreases each year by -3.64%.
SLG has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)-3.64%
Div Incr Years0
Div Non Decr Years0
SLG Yearly Dividends per shareSLG Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1 2 3 4

5.3 Sustainability

4236.65% of the earnings are spent on dividend by SLG. This is not a sustainable payout ratio.
SLG's earnings and Dividend Rate are declining. This means the current dividend is most likely not sustainable.
DP4236.65%
EPS Next 2Y-359.78%
EPS Next 3Y-165.71%
SLG Yearly Income VS Free CF VS DividendSLG Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -500M -1B -1.5B -2B -2.5B
SLG Dividend Payout.SLG Dividend Payout, showing the Payout Ratio.SLG Dividend Payout.PayoutRetained Earnings

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SL GREEN REALTY CORP

NYSE:SLG (4/25/2025, 8:04:00 PM)

After market: 54.34 0 (0%)

54.34

-0.14 (-0.26%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)04-16 2025-04-16/amc
Earnings (Next)07-15 2025-07-15/amc
Inst Owners93.29%
Inst Owner Change0.22%
Ins Owners0.07%
Ins Owner Change2.74%
Market Cap3.86B
Analysts67.62
Price Target65.85 (21.18%)
Short Float %7.94%
Short Ratio6.04
Dividend
Industry RankSector Rank
Dividend Yield 5.67%
Yearly Dividend3.22
Dividend Growth(5Y)-3.64%
DP4236.65%
Div Incr Years0
Div Non Decr Years0
Ex-Date04-30 2025-04-30 (0.2575)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)102.88%
Min EPS beat(2)58.08%
Max EPS beat(2)147.67%
EPS beat(4)4
Avg EPS beat(4)72.84%
Min EPS beat(4)16.48%
Max EPS beat(4)147.67%
EPS beat(8)4
Avg EPS beat(8)4.31%
EPS beat(12)6
Avg EPS beat(12)-906.26%
EPS beat(16)9
Avg EPS beat(16)161.91%
Revenue beat(2)1
Avg Revenue beat(2)31.79%
Min Revenue beat(2)-3.02%
Max Revenue beat(2)66.61%
Revenue beat(4)2
Avg Revenue beat(4)16.72%
Min Revenue beat(4)-3.02%
Max Revenue beat(4)66.61%
Revenue beat(8)3
Avg Revenue beat(8)5.05%
Revenue beat(12)7
Avg Revenue beat(12)10.52%
Revenue beat(16)11
Avg Revenue beat(16)11.78%
PT rev (1m)-3.09%
PT rev (3m)-4.6%
EPS NQ rev (1m)2.72%
EPS NQ rev (3m)32.71%
EPS NY rev (1m)39.84%
EPS NY rev (3m)13.44%
Revenue NQ rev (1m)0.55%
Revenue NQ rev (3m)1.45%
Revenue NY rev (1m)0.91%
Revenue NY rev (3m)6.08%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 4.35
P/FCF N/A
P/OCF 29.78
P/B 0.93
P/tB 0.97
EV/EBITDA 20.98
EPS(TTM)-0.42
EYN/A
EPS(NY)-1.53
Fwd EYN/A
FCF(TTM)-1.16
FCFYN/A
OCF(TTM)1.82
OCFY3.36%
SpS12.48
BVpS58.4
TBVpS55.85
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.05%
ROE 0.12%
ROCE 1.47%
ROIC 1.16%
ROICexc 1.18%
ROICexgc 1.27%
OM 15.63%
PM (TTM) 0.58%
GM 48.7%
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-Score7
Asset Turnover0.08
Health
Industry RankSector Rank
Debt/Equity 0.9
Debt/FCF N/A
Debt/EBITDA 10.53
Cap/Depr 98.98%
Cap/Sales 23.91%
Interest Coverage 0.69
Cash Conversion 36.75%
Profit Quality N/A
Current Ratio 0.51
Quick Ratio 0.51
Altman-Z 0.38
F-Score7
WACC7.21%
ROIC/WACC0.16
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-2051.82%
EPS Next 2Y-359.78%
EPS Next 3Y-165.71%
EPS Next 5Y-86.11%
Revenue 1Y (TTM)-3%
Revenue growth 3Y1.64%
Revenue growth 5Y-6.48%
Sales Q2Q%2.13%
Revenue Next Year7.17%
Revenue Next 2Y5.19%
Revenue Next 3Y5.23%
Revenue Next 5Y1.04%
EBIT growth 1Y102.8%
EBIT growth 3Y-8.17%
EBIT growth 5Y-19.36%
EBIT Next Year91.29%
EBIT Next 3Y21.06%
EBIT Next 5Y-8.92%
FCF growth 1Y-172.79%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-43.53%
OCF growth 3Y-20.3%
OCF growth 5Y-19.21%