ALEXANDER & BALDWIN INC (ALEX) Stock Fundamental Analysis
NYSE:ALEX - New York Stock Exchange, Inc. - US0144911049 - REIT - Currency: USD
Overall ALEX gets a fundamental rating of 5 out of 10. We evaluated ALEX against 130 industry peers in the Diversified REITs industry. While ALEX has a great profitability rating, there are some minor concerns on its financial health. ALEX has a valuation in line with the averages, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
ALEX had positive earnings in the past year.
In the past year ALEX had a positive cash flow from operations.
Of the past 5 years ALEX 4 years were profitable.
Each year in the past 5 years ALEX had a positive operating cash flow.
1.2 Ratios
ALEX has a better Return On Assets (3.62%) than 86.15% of its industry peers.
ALEX has a better Return On Equity (6.03%) than 76.92% of its industry peers.
With a decent Return On Invested Capital value of 3.69%, ALEX is doing good in the industry, outperforming 69.23% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for ALEX is in line with the industry average of 3.16%.
The 3 year average ROIC (3.24%) for ALEX is below the current ROIC(3.69%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.62% | ||
| ROE | 6.03% | ||
| ROIC | 3.69% |
ROA(3y)0.86%
ROA(5y)0.94%
ROE(3y)1.36%
ROE(5y)1.58%
ROIC(3y)3.24%
ROIC(5y)2.9%
1.3 Margins
With an excellent Profit Margin value of 25.57%, ALEX belongs to the best of the industry, outperforming 80.77% of the companies in the same industry.
In the last couple of years the Profit Margin of ALEX has grown nicely.
With a decent Operating Margin value of 32.89%, ALEX is doing good in the industry, outperforming 71.54% of the companies in the same industry.
In the last couple of years the Operating Margin of ALEX has grown nicely.
ALEX's Gross Margin of 45.49% is on the low side compared to the rest of the industry. ALEX is outperformed by 80.00% of its industry peers.
ALEX's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 32.89% | ||
| PM (TTM) | 25.57% | ||
| GM | 45.49% |
OM growth 3Y0.42%
OM growth 5Y32.23%
PM growth 3Y22.77%
PM growth 5YN/A
GM growth 3Y-1.01%
GM growth 5Y15.99%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), ALEX is destroying value.
ALEX has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, ALEX has more shares outstanding
The debt/assets ratio for ALEX is higher compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 0.80, we must say that ALEX is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of ALEX (0.80) is better than 66.92% of its industry peers.
The Debt to FCF ratio of ALEX is 10.06, which is on the high side as it means it would take ALEX, 10.06 years of fcf income to pay off all of its debts.
ALEX has a Debt to FCF ratio of 10.06. This is amongst the best in the industry. ALEX outperforms 92.31% of its industry peers.
A Debt/Equity ratio of 0.47 indicates that ALEX is not too dependend on debt financing.
ALEX's Debt to Equity ratio of 0.47 is amongst the best of the industry. ALEX outperforms 90.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.47 | ||
| Debt/FCF | 10.06 | ||
| Altman-Z | 0.8 |
ROIC/WACC0.48
WACC7.67%
2.3 Liquidity
A Current Ratio of 8.25 indicates that ALEX has no problem at all paying its short term obligations.
The Current ratio of ALEX (8.25) is better than 98.46% of its industry peers.
ALEX has a Quick Ratio of 8.25. This indicates that ALEX is financially healthy and has no problem in meeting its short term obligations.
With an excellent Quick ratio value of 8.25, ALEX belongs to the best of the industry, outperforming 98.46% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 8.25 | ||
| Quick Ratio | 8.25 |
3. Growth
3.1 Past
ALEX shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 3.66%.
Measured over the past years, ALEX shows a very strong growth in Earnings Per Share. The EPS has been growing by 36.08% on average per year.
ALEX shows a small growth in Revenue. In the last year, the Revenue has grown by 4.31%.
ALEX shows a very negative growth in Revenue. Measured over the last years, the Revenue has been decreasing by -11.47% yearly.
EPS 1Y (TTM)3.66%
EPS 3Y19.68%
EPS 5Y36.08%
EPS Q2Q%3.57%
Revenue 1Y (TTM)4.31%
Revenue growth 3Y-2.33%
Revenue growth 5Y-11.47%
Sales Q2Q%4.41%
3.2 Future
Based on estimates for the next years, ALEX will show a decrease in Earnings Per Share. The EPS will decrease by -2.22% on average per year.
Based on estimates for the next years, ALEX will show a small growth in Revenue. The Revenue will grow by 2.20% on average per year.
EPS Next Y-17.43%
EPS Next 2Y-8.47%
EPS Next 3Y-2.22%
EPS Next 5YN/A
Revenue Next Year2.56%
Revenue Next 2Y2.31%
Revenue Next 3Y2.2%
Revenue Next 5YN/A
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.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 20.75, the valuation of ALEX can be described as rather expensive.
Compared to the rest of the industry, the Price/Earnings ratio of ALEX indicates a rather cheap valuation: ALEX is cheaper than 82.31% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of ALEX to the average of the S&P500 Index (27.50), we can say ALEX is valued slightly cheaper.
The Price/Forward Earnings ratio is 25.06, which means the current valuation is very expensive for ALEX.
Based on the Price/Forward Earnings ratio, ALEX is valued cheaper than 80.77% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 36.44, ALEX is valued a bit cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 20.75 | ||
| Fwd PE | 25.06 |
4.2 Price Multiples
ALEX's Enterprise Value to EBITDA ratio is in line with the industry average.
Based on the Price/Free Cash Flow ratio, ALEX is valued a bit cheaper than the industry average as 73.85% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 27.17 | ||
| EV/EBITDA | 15.16 |
4.3 Compensation for Growth
ALEX has a very decent profitability rating, which may justify a higher PE ratio.
ALEX's earnings are expected to decrease with -2.22% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)0.58
EPS Next 2Y-8.47%
EPS Next 3Y-2.22%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 5.03%, ALEX is a good candidate for dividend investing.
ALEX's Dividend Yield is comparable with the industry average which is at 6.42.
ALEX's Dividend Yield is rather good when compared to the S&P500 average which is at 2.35.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.03% |
5.2 History
The dividend of ALEX has a limited annual growth rate of 5.27%.
ALEX has been paying a dividend for at least 10 years, so it has a reliable track record.
ALEX has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)5.27%
Div Incr Years4
Div Non Decr Years4
5.3 Sustainability
ALEX pays out 107.38% of its income as dividend. This is not a sustainable payout ratio.
The Dividend Rate of ALEX has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.
DP107.38%
EPS Next 2Y-8.47%
EPS Next 3Y-2.22%
17.64
-0.08 (-0.45%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners88.92%
Inst Owner Change-0.06%
Ins Owners0.72%
Ins Owner Change4.05%
Market Cap1.28B
Analysts82
Price Target21.42 (21.43%)
Short Float %1.26%
Short Ratio2.42
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.03% |
Yearly Dividend0.9
Dividend Growth(5Y)5.27%
DP107.38%
Div Incr Years4
Div Non Decr Years4
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)16.25%
Min EPS beat(2)11.11%
Max EPS beat(2)21.38%
EPS beat(4)3
Avg EPS beat(4)33.67%
Min EPS beat(4)-8.96%
Max EPS beat(4)111.16%
EPS beat(8)6
Avg EPS beat(8)-2.93%
EPS beat(12)9
Avg EPS beat(12)6.25%
EPS beat(16)11
Avg EPS beat(16)57.22%
Revenue beat(2)2
Avg Revenue beat(2)21.3%
Min Revenue beat(2)17.96%
Max Revenue beat(2)24.65%
Revenue beat(4)3
Avg Revenue beat(4)11.03%
Min Revenue beat(4)-2.32%
Max Revenue beat(4)24.65%
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)0%
PT rev (3m)-4.55%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)-5.56%
EPS NY rev (3m)6.25%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.54%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 20.75 | ||
| Fwd PE | 25.06 | ||
| P/S | 5.42 | ||
| P/FCF | 27.17 | ||
| P/OCF | 13.09 | ||
| P/B | 1.28 | ||
| P/tB | 1.29 | ||
| EV/EBITDA | 15.16 |
EPS(TTM)0.85
EY4.82%
EPS(NY)0.7
Fwd EY3.99%
FCF(TTM)0.65
FCFY3.68%
OCF(TTM)1.35
OCFY7.64%
SpS3.25
BVpS13.8
TBVpS13.68
PEG (NY)N/A
PEG (5Y)0.58
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.62% | ||
| ROE | 6.03% | ||
| ROCE | 4.67% | ||
| ROIC | 3.69% | ||
| ROICexc | 3.77% | ||
| ROICexgc | 3.79% | ||
| OM | 32.89% | ||
| PM (TTM) | 25.57% | ||
| GM | 45.49% | ||
| FCFM | 19.95% |
ROA(3y)0.86%
ROA(5y)0.94%
ROE(3y)1.36%
ROE(5y)1.58%
ROIC(3y)3.24%
ROIC(5y)2.9%
ROICexc(3y)3.29%
ROICexc(5y)2.96%
ROICexgc(3y)3.31%
ROICexgc(5y)2.98%
ROCE(3y)4.1%
ROCE(5y)3.67%
ROICexcg growth 3Y1.17%
ROICexcg growth 5Y22.15%
ROICexc growth 3Y1.32%
ROICexc growth 5Y22.35%
OM growth 3Y0.42%
OM growth 5Y32.23%
PM growth 3Y22.77%
PM growth 5YN/A
GM growth 3Y-1.01%
GM growth 5Y15.99%
F-Score7
Asset Turnover0.14
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.47 | ||
| Debt/FCF | 10.06 | ||
| Debt/EBITDA | 4.16 | ||
| Cap/Depr | 139.84% | ||
| Cap/Sales | 21.46% | ||
| Interest Coverage | 3.52 | ||
| Cash Conversion | 85.85% | ||
| Profit Quality | 78.02% | ||
| Current Ratio | 8.25 | ||
| Quick Ratio | 8.25 | ||
| Altman-Z | 0.8 |
F-Score7
WACC7.67%
ROIC/WACC0.48
Cap/Depr(3y)93.91%
Cap/Depr(5y)86.99%
Cap/Sales(3y)15.27%
Cap/Sales(5y)16.01%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)3.66%
EPS 3Y19.68%
EPS 5Y36.08%
EPS Q2Q%3.57%
EPS Next Y-17.43%
EPS Next 2Y-8.47%
EPS Next 3Y-2.22%
EPS Next 5YN/A
Revenue 1Y (TTM)4.31%
Revenue growth 3Y-2.33%
Revenue growth 5Y-11.47%
Sales Q2Q%4.41%
Revenue Next Year2.56%
Revenue Next 2Y2.31%
Revenue Next 3Y2.2%
Revenue Next 5YN/A
EBIT growth 1Y13.94%
EBIT growth 3Y-1.93%
EBIT growth 5Y17.06%
EBIT Next Year51.74%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y31.52%
FCF growth 3Y-12.59%
FCF growth 5YN/A
OCF growth 1Y46.04%
OCF growth 3Y-7.6%
OCF growth 5Y-9.07%