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SL GREEN REALTY CORP (SLG) Stock Fundamental Analysis

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

56.16  +0.4 (+0.72%)

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 may be in some trouble as it scores bad on both profitability and health. 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

SLG had negative earnings in the past year.
In the past year SLG had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: SLG reported negative net income in multiple years.
Each year in the past 5 years SLG had a positive operating cash flow.
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

With a Return On Assets value of -0.25%, SLG is not doing good in the industry: 61.54% of the companies in the same industry are doing better.
SLG's Return On Equity of -0.72% is on the low side compared to the rest of the industry. SLG is outperformed by 61.54% of its industry peers.
Looking at the Return On Invested Capital, with a value of 1.37%, SLG is doing worse than 80.77% of the companies in the same industry.
SLG had an Average Return On Invested Capital over the past 3 years of 1.02%. This is below the industry average of 3.15%.
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.
SLG has a Operating Margin (19.19%) which is in line with its industry peers.
In the last couple of years the Operating Margin of SLG has declined.
Looking at the Gross Margin, with a value of 49.52%, SLG is doing worse than 78.46% of the companies in the same industry.
SLG's Gross Margin has declined in the last couple of years.
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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1

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so SLG 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.
Compared to 1 year ago, SLG has an improved debt to assets ratio.
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 0.34. This is a bad value and indicates that SLG is not financially healthy and even has some risk of bankruptcy.
SLG's Altman-Z score of 0.34 is on the low side compared to the rest of the industry. SLG is outperformed by 61.54% of its industry peers.
SLG has a Debt/Equity ratio of 0.98. This is a neutral value indicating 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 0.34
ROIC/WACC0.19
WACC7.08%
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.
With a Current ratio value of 0.50, SLG is not doing good in the industry: 78.46% of the companies in the same industry are doing better.
SLG has a Quick 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.
Looking at the Quick ratio, with a value of 0.50, SLG is doing worse than 77.69% of the companies in the same industry.
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

SLG shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 74.91%, 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.
Looking at the last year, SLG shows a decrease in Revenue. The Revenue has decreased by -3.00% in the last year.
SLG shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -6.48% yearly.
EPS 1Y (TTM)74.91%
EPS 3Y-77.07%
EPS 5Y-52.38%
EPS Q2Q%-625%
Revenue 1Y (TTM)-3%
Revenue growth 3Y1.64%
Revenue growth 5Y-6.48%
Sales Q2Q%-2.06%

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-1400.37%
EPS Next 2Y-284.48%
EPS Next 3Y-164.66%
EPS Next 5Y-79.31%
Revenue Next Year8.6%
Revenue Next 2Y5.42%
Revenue Next 3Y5.16%
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.
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.
Also next year SLG is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
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

4.2 Price Multiples

82.31% of the companies in the same industry are cheaper than SLG, based on the Enterprise Value to EBITDA ratio.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 18.89
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 -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%

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4

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 5.40%, SLG is a good candidate for dividend investing.
SLG's Dividend Yield is comparable with the industry average which is at 6.55.
Compared to an average S&P500 Dividend Yield of 2.39, SLG pays a better dividend.
Industry RankSector Rank
Dividend Yield 5.4%

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

SLG has negative earnings and hence a negative payout ratio. The dividend may be in danger.
SLG's earnings and Dividend Rate are 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 (8/4/2025, 12:14:07 PM)

56.16

+0.4 (+0.72%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)07-16 2025-07-16/amc
Earnings (Next)10-14 2025-10-14/amc
Inst Owners89.74%
Inst Owner Change-0.46%
Ins Owners0.07%
Ins Owner Change-1.18%
Market Cap3.99B
Analysts67.62
Price Target65.03 (15.79%)
Short Float %10.75%
Short Ratio7.24
Dividend
Industry RankSector Rank
Dividend Yield 5.4%
Yearly Dividend3.22
Dividend Growth(5Y)-3.64%
DP-776%
Div Incr Years0
Div Non Decr Years0
Ex-Date07-31 2025-07-31 (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)0.2%
PT rev (3m)-1.26%
EPS NQ rev (1m)14.18%
EPS NQ rev (3m)18.62%
EPS NY rev (1m)13.45%
EPS NY rev (3m)33.38%
Revenue NQ rev (1m)-0.18%
Revenue NQ rev (3m)5.93%
Revenue NY rev (1m)-0.23%
Revenue NY rev (3m)1.33%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 4.25
P/FCF N/A
P/OCF 24.78
P/B 0.99
P/tB 1.04
EV/EBITDA 18.89
EPS(TTM)-0.67
EYN/A
EPS(NY)-1.02
Fwd EYN/A
FCF(TTM)-2.57
FCFYN/A
OCF(TTM)2.27
OCFY4.04%
SpS13.21
BVpS56.77
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 0.34
F-Score5
WACC7.08%
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)74.91%
EPS 3Y-77.07%
EPS 5Y-52.38%
EPS Q2Q%-625%
EPS Next Y-1400.37%
EPS Next 2Y-284.48%
EPS Next 3Y-164.66%
EPS Next 5Y-79.31%
Revenue 1Y (TTM)-3%
Revenue growth 3Y1.64%
Revenue growth 5Y-6.48%
Sales Q2Q%-2.06%
Revenue Next Year8.6%
Revenue Next 2Y5.42%
Revenue Next 3Y5.16%
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%