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SL GREEN REALTY CORP (SLG) Stock Fundamental Analysis

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

61.65  -2.68 (-4.17%)

Fundamental Rating

2

Taking everything into account, SLG scores 2 out of 10 in our fundamental rating. SLG was compared to 128 industry peers in the Diversified REITs industry. SLG has a bad profitability rating. Also its financial health evaluation is rather negative. SLG has a expensive valuation and it also scores bad on growth.


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

The Return On Assets of SLG (-0.25%) is worse than 61.72% of its industry peers.
SLG has a worse Return On Equity (-0.72%) than 61.72% of its industry peers.
The Return On Invested Capital of SLG (1.37%) is worse than 80.47% of its industry peers.
SLG had an Average Return On Invested Capital over the past 3 years of 1.02%. This is below the industry average of 3.14%.
The 3 year average ROIC (1.02%) for SLG is below the current ROIC(1.37%), indicating increased profibility in the last year.
Industry RankSector 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%
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's Profit Margin has declined in the last couple of years.
With a Operating Margin value of 19.19%, SLG perfoms like the industry average, outperforming 43.75% 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: 78.13% of the companies in the same industry are doing better.
In the last couple of years the Gross Margin of SLG has declined.
Industry RankSector 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%
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.
Compared to 1 year ago, SLG has more shares outstanding
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.
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 0.39. 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 of 0.39. This is comparable to the rest of the industry: SLG outperforms 42.19% of its industry peers.
A Debt/Equity ratio of 0.98 indicates that SLG is somewhat dependend on debt financing.
SLG has a Debt to Equity ratio (0.98) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 0.98
Debt/FCF N/A
Altman-Z 0.39
ROIC/WACC0.16
WACC8.54%
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

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 78.91% 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 78.13% of its industry peers.
Industry RankSector Rank
Current Ratio 0.5
Quick Ratio 0.5
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

The Earnings Per Share has grown by an impressive 89.01% over the past year.
The earnings per share for SLG have been decreasing by -52.38% on average. This is quite bad
SLG shows a small growth in Revenue. In the last year, the Revenue has grown by 6.86%.
Measured over the past years, SLG shows a decrease in Revenue. The Revenue has been decreasing by -6.48% on average per year.
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

The Earnings Per Share is expected to decrease by -79.31% on average over the next years. This is quite bad
Based on estimates for the next years, SLG will show a small growth in Revenue. The Revenue will grow by 4.70% on average per year.
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

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.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
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

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, SLG is valued expensively inside the industry as 86.72% of the companies are valued cheaper.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 20.38
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

A cheap valuation may be justified as SLG's earnings are expected to decrease with -164.66% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-284.48%
EPS Next 3Y-164.66%

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4

5. Dividend

5.1 Amount

SLG has a Yearly Dividend Yield of 4.77%, which is a nice return.
Compared to an average industry Dividend Yield of 6.72, 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 2.44.
Industry RankSector Rank
Dividend Yield 4.77%

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
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

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%
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

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SL GREEN REALTY CORP

NYSE:SLG (6/23/2025, 12:43:09 PM)

61.65

-2.68 (-4.17%)

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)07-16 2025-07-16/amc
Inst Owners89.74%
Inst Owner Change0.57%
Ins Owners0.07%
Ins Owner Change3.2%
Market Cap4.38B
Analysts67.62
Price Target64.9 (5.27%)
Short Float %7.85%
Short Ratio5.85
Dividend
Industry RankSector Rank
Dividend Yield 4.77%
Yearly Dividend3.22
Dividend Growth(5Y)-3.64%
DP-776%
Div Incr Years0
Div Non Decr Years0
Ex-Date05-30 2025-05-30 (0.2575)
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)-10.15%
EPS NQ rev (1m)17.5%
EPS NQ rev (3m)61.81%
EPS NY rev (1m)20.84%
EPS NY rev (3m)53.7%
Revenue NQ rev (1m)2.84%
Revenue NQ rev (3m)2.72%
Revenue NY rev (1m)1.12%
Revenue NY rev (3m)-0.86%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 4.67
P/FCF N/A
P/OCF 27.2
P/B 1.09
P/tB 1.14
EV/EBITDA 20.38
EPS(TTM)-0.42
EYN/A
EPS(NY)-1.02
Fwd EYN/A
FCF(TTM)-2.57
FCFYN/A
OCF(TTM)2.27
OCFY3.68%
SpS13.21
BVpS56.78
TBVpS53.95
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector 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 RankSector 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 0.39
F-Score5
WACC8.54%
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-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%