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STORE CAPITAL CORP (STOR) Stock Fundamental Analysis

NYSE:STOR - New York Stock Exchange, Inc. - US8621211007 - REIT - Currency: USD

32.21  0 (0%)

After market: 32.22 +0.01 (+0.03%)

Fundamental Rating

4

STOR gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 129 industry peers in the Diversified REITs industry. There are concerns on the financial health of STOR while its profitability can be described as average. STOR is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

STOR had positive earnings in the past year.
STOR had a positive operating cash flow in the past year.
STOR Yearly Net Income VS EBIT VS OCF VS FCFSTOR Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 0 500M -500M -1B

1.2 Ratios

STOR has a better Return On Assets (3.05%) than 64.86% of its industry peers.
STOR has a Return On Equity of 6.00%. This is comparable to the rest of the industry: STOR outperforms 60.00% of its industry peers.
STOR has a Return On Invested Capital of 3.88%. This is in the better half of the industry: STOR outperforms 76.22% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for STOR is in line with the industry average of 3.15%.
The 3 year average ROIC (3.62%) for STOR is below the current ROIC(3.88%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 3.05%
ROE 6%
ROIC 3.88%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)3.62%
ROIC(5y)N/A
STOR Yearly ROA, ROE, ROICSTOR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2 4 6

1.3 Margins

Looking at the Profit Margin, with a value of 36.21%, STOR is in the better half of the industry, outperforming 78.92% of the companies in the same industry.
STOR's Profit Margin has been stable in the last couple of years.
STOR has a better Operating Margin (56.56%) than 94.05% of its industry peers.
In the last couple of years the Operating Margin of STOR has declined.
STOR's Gross Margin of 98.30% is amongst the best of the industry. STOR outperforms 98.38% of its industry peers.
STOR's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 56.56%
PM (TTM) 36.21%
GM 98.3%
OM growth 3Y-2.49%
OM growth 5Y-1.76%
PM growth 3Y-5.13%
PM growth 5Y0.94%
GM growth 3Y-0.52%
GM growth 5Y-0.26%
STOR Yearly Profit, Operating, Gross MarginsSTOR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 20 40 60 80

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1

2. Health

2.1 Basic Checks

STOR has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
STOR has more shares outstanding than it did 1 year ago.
The debt/assets ratio for STOR is higher compared to a year ago.
STOR Yearly Shares OutstandingSTOR Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 50M 100M 150M 200M 250M
STOR Yearly Total Debt VS Total AssetsSTOR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2B 4B 6B 8B

2.2 Solvency

STOR has an Altman-Z score of 1.18. This is a bad value and indicates that STOR is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 1.18, STOR is in the better half of the industry, outperforming 71.89% of the companies in the same industry.
STOR has a Debt/Equity ratio of 0.91. This is a neutral value indicating STOR is somewhat dependend on debt financing.
STOR has a better Debt to Equity ratio (0.91) than 60.54% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.91
Debt/FCF N/A
Altman-Z 1.18
ROIC/WACC0.5
WACC7.77%
STOR Yearly LT Debt VS Equity VS FCFSTOR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 0 2B 4B

2.3 Liquidity

STOR has a Current Ratio of 0.15. This is a bad value and indicates that STOR is not financially healthy enough and could expect problems in meeting its short term obligations.
STOR has a Current ratio of 0.15. This is amonst the worse of the industry: STOR underperforms 91.35% of its industry peers.
STOR has a Quick Ratio of 0.15. This is a bad value and indicates that STOR is not financially healthy enough and could expect problems in meeting its short term obligations.
STOR has a worse Quick ratio (0.15) than 89.73% of its industry peers.
Industry RankSector Rank
Current Ratio 0.15
Quick Ratio 0.15
STOR Yearly Current Assets VS Current LiabilitesSTOR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 50M 100M 150M 200M 250M

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6

3. Growth

3.1 Past

STOR shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 30.77%, which is quite impressive.
The Earnings Per Share has been growing slightly by 3.30% on average over the past years.
Looking at the last year, STOR shows a quite strong growth in Revenue. The Revenue has grown by 18.66% in the last year.
Measured over the past years, STOR shows a quite strong growth in Revenue. The Revenue has been growing by 15.77% on average per year.
EPS 1Y (TTM)30.77%
EPS 3Y-1.92%
EPS 5Y3.3%
EPS Q2Q%-3.57%
Revenue 1Y (TTM)18.66%
Revenue growth 3Y13.11%
Revenue growth 5Y15.77%
Sales Q2Q%15.78%

3.2 Future

The Earnings Per Share is expected to grow by 4.47% on average over the next years.
Based on estimates for the next years, STOR will show a quite strong growth in Revenue. The Revenue will grow by 13.06% on average per year.
EPS Next Y21.09%
EPS Next 2Y8.84%
EPS Next 3Y7.56%
EPS Next 5Y4.47%
Revenue Next Year16.47%
Revenue Next 2Y11.8%
Revenue Next 3Y9.82%
Revenue Next 5Y13.06%

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 accelerating.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
STOR Yearly Revenue VS EstimatesSTOR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 500M 1B
STOR Yearly EPS VS EstimatesSTOR Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0.2 0.4 0.6 0.8 1

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2

4. Valuation

4.1 Price/Earnings Ratio

STOR is valuated quite expensively with a Price/Earnings ratio of 27.07.
Based on the Price/Earnings ratio, STOR is valued a bit cheaper than 65.95% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 26.60, STOR is valued at the same level.
STOR is valuated quite expensively with a Price/Forward Earnings ratio of 27.19.
Based on the Price/Forward Earnings ratio, STOR is valued a bit cheaper than the industry average as 79.46% of the companies are valued more expensively.
STOR is valuated rather expensively when we compare the Price/Forward Earnings ratio to 22.43, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 27.07
Fwd PE 27.19
STOR Price Earnings VS Forward Price EarningsSTOR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

STOR's Enterprise Value to EBITDA is on the same level as the industry average.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 17.41
STOR Per share dataSTOR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15

4.3 Compensation for Growth

STOR's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.28
PEG (5Y)8.19
EPS Next 2Y8.84%
EPS Next 3Y7.56%

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5

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 5.10%, STOR is a good candidate for dividend investing.
STOR's Dividend Yield is a higher than the industry average which is at 6.62.
Compared to an average S&P500 Dividend Yield of 2.36, STOR pays a better dividend.
Industry RankSector Rank
Dividend Yield 5.1%

5.2 History

The dividend of STOR has a limited annual growth rate of 5.75%.
STOR has been paying a dividend for over 5 years, so it has already some track record.
Dividend Growth(5Y)5.75%
Div Incr Years0
Div Non Decr Years0
STOR Yearly Dividends per shareSTOR Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 0.5 1

5.3 Sustainability

133.45% of the earnings are spent on dividend by STOR. This is not a sustainable payout ratio.
STOR's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP133.45%
EPS Next 2Y8.84%
EPS Next 3Y7.56%
STOR Yearly Income VS Free CF VS DividendSTOR Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 0 -500M -1B
STOR Dividend Payout.STOR Dividend Payout, showing the Payout Ratio.STOR Dividend Payout.PayoutRetained Earnings

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STORE CAPITAL CORP

NYSE:STOR (2/2/2023, 8:25:39 PM)

After market: 32.22 +0.01 (+0.03%)

32.21

0 (0%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)11-03 2022-11-03/bmo
Earnings (Next)02-21 2023-02-21/amc
Inst Owners0%
Inst Owner Change0%
Ins Owners0.53%
Ins Owner Change0%
Market Cap9.11B
Analysts54.12
Price Target32.3 (0.28%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.1%
Yearly Dividend1.49
Dividend Growth(5Y)5.75%
DP133.45%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)4.66%
Min EPS beat(2)-5.46%
Max EPS beat(2)14.78%
EPS beat(4)3
Avg EPS beat(4)9.41%
Min EPS beat(4)-5.46%
Max EPS beat(4)20.66%
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)2
Avg Revenue beat(2)6.91%
Min Revenue beat(2)6.25%
Max Revenue beat(2)7.56%
Revenue beat(4)4
Avg Revenue beat(4)8.39%
Min Revenue beat(4)6.25%
Max Revenue beat(4)10.76%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)2.48%
PT rev (3m)2.81%
EPS NQ rev (1m)-0.71%
EPS NQ rev (3m)-0.71%
EPS NY rev (1m)0%
EPS NY rev (3m)-0.24%
Revenue NQ rev (1m)0.72%
Revenue NQ rev (3m)0.72%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 27.07
Fwd PE 27.19
P/S 10.28
P/FCF N/A
P/OCF 13.59
P/B 1.7
P/tB 1.7
EV/EBITDA 17.41
EPS(TTM)1.19
EY3.69%
EPS(NY)1.18
Fwd EY3.68%
FCF(TTM)-3.02
FCFYN/A
OCF(TTM)2.37
OCFY7.36%
SpS3.13
BVpS18.91
TBVpS18.91
PEG (NY)1.28
PEG (5Y)8.19
Profitability
Industry RankSector Rank
ROA 3.05%
ROE 6%
ROCE N/A
ROIC 3.88%
ROICexc 3.9%
ROICexgc 3.96%
OM 56.56%
PM (TTM) 36.21%
GM 98.3%
FCFM N/A
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)3.62%
ROIC(5y)N/A
ROICexc(3y)3.58%
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3Y-0.5%
ROICexcg growth 5Y-0.7%
ROICexc growth 3Y-0.58%
ROICexc growth 5Y-0.69%
OM growth 3Y-2.49%
OM growth 5Y-1.76%
PM growth 3Y-5.13%
PM growth 5Y0.94%
GM growth 3Y-0.52%
GM growth 5Y-0.26%
F-Score7
Asset Turnover0.08
Health
Industry RankSector Rank
Debt/Equity 0.91
Debt/FCF N/A
Debt/EBITDA 6.07
Cap/Depr 511.87%
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 0.15
Quick Ratio 0.15
Altman-Z 1.18
F-Score7
WACC7.77%
ROIC/WACC0.5
Cap/Depr(3y)516.79%
Cap/Depr(5y)654.4%
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)30.77%
EPS 3Y-1.92%
EPS 5Y3.3%
EPS Q2Q%-3.57%
EPS Next Y21.09%
EPS Next 2Y8.84%
EPS Next 3Y7.56%
EPS Next 5Y4.47%
Revenue 1Y (TTM)18.66%
Revenue growth 3Y13.11%
Revenue growth 5Y15.77%
Sales Q2Q%15.78%
Revenue Next Year16.47%
Revenue Next 2Y11.8%
Revenue Next 3Y9.82%
Revenue Next 5Y13.06%
EBIT growth 1Y27.04%
EBIT growth 3Y10.3%
EBIT growth 5Y13.74%
EBIT Next Year103.06%
EBIT Next 3Y35.52%
EBIT Next 5Y28.17%
FCF growth 1Y-49.58%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y59.04%
OCF growth 3Y14.2%
OCF growth 5Y18.82%