SAUL CENTERS INC (BFS)
US8043951016 - REIT
Taking everything into account, BFS scores 4 out of 10 in our fundamental rating. BFS was compared to 129 industry peers in the Diversified REITs industry. While BFS has a great profitability rating, there are quite some concerns on its financial health. BFS is valied quite expensively at the moment, while it does show a decent growth rate.
1. Profitability
1.1 Basic Checks
BFS had positive earnings in the past year.
BFS had a positive operating cash flow in the past year.
In the past 5 years BFS has always been profitable.
In the past 5 years BFS always reported a positive cash flow from operatings.
1.2 Ratios
Looking at the Return On Assets, with a value of 2.11%, BFS is in the better half of the industry, outperforming 69.05% of the companies in the same industry.
The Return On Equity of BFS (13.04%) is better than 92.86% of its industry peers.
The Return On Invested Capital of BFS (4.83%) is better than 88.89% of its industry peers.
BFS had an Average Return On Invested Capital over the past 3 years of 4.92%. This is in line with the industry average of 3.11%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.11% | ||
| ROE | 13.04% | ||
| ROIC | 4.83% |
ROA(3y)2.11%
ROA(5y)2.07%
ROE(3y)10.28%
ROE(5y)9.71%
ROIC(3y)4.92%
ROIC(5y)4.98%
1.3 Margins
BFS has a Profit Margin of 16.60%. This is in the better half of the industry: BFS outperforms 69.05% of its industry peers.
In the last couple of years the Profit Margin of BFS has remained more or less at the same level.
BFS has a better Operating Margin (46.25%) than 88.89% of its industry peers.
In the last couple of years the Operating Margin of BFS has remained more or less at the same level.
With a decent Gross Margin value of 73.85%, BFS is doing good in the industry, outperforming 68.25% of the companies in the same industry.
BFS's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 46.25% | ||
| PM (TTM) | 16.6% | ||
| GM | 73.85% |
OM growth 3Y3.06%
OM growth 5Y-0.56%
PM growth 3Y8.3%
PM growth 5Y0.41%
GM growth 3Y-0.31%
GM growth 5Y-0.45%
2. Health
2.1 Basic Checks
BFS has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
Compared to 1 year ago, BFS has more shares outstanding
The number of shares outstanding for BFS has been increased compared to 5 years ago.
BFS has a worse debt/assets ratio than last year.
2.2 Solvency
BFS has an Altman-Z score of 0.43. This is a bad value and indicates that BFS is not financially healthy and even has some risk of bankruptcy.
BFS has a worse Altman-Z score (0.43) than 62.70% of its industry peers.
A Debt/Equity ratio of 4.37 is on the high side and indicates that BFS has dependencies on debt financing.
The Debt to Equity ratio of BFS (4.37) is worse than 85.71% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 4.37 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.43 |
ROIC/WACC0.88
WACC5.46%
2.3 Liquidity
A Current Ratio of 0.81 indicates that BFS may have some problems paying its short term obligations.
BFS has a worse Current ratio (0.81) than 73.02% of its industry peers.
A Quick Ratio of 0.81 indicates that BFS may have some problems paying its short term obligations.
BFS has a Quick ratio of 0.81. This is in the lower half of the industry: BFS underperforms 69.84% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.81 | ||
| Quick Ratio | 0.81 |
3. Growth
3.1 Past
BFS shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 10.02%, which is quite good.
Measured over the past 5 years, BFS shows a small growth in Earnings Per Share. The EPS has been growing by 1.52% on average per year.
BFS shows a small growth in Revenue. In the last year, the Revenue has grown by 6.15%.
The Revenue has been growing slightly by 2.46% on average over the past years.
EPS 1Y (TTM)10.02%
EPS 3Y11.34%
EPS 5Y1.52%
EPS Q2Q%15.16%
Revenue 1Y (TTM)6.15%
Revenue growth 3Y3.81%
Revenue growth 5Y2.46%
Sales Q2Q%5.22%
3.2 Future
BFS is expected to show a very negative growth in Earnings Per Share. In the coming years, the EPS will decrease by -10.77% yearly.
Based on estimates for the next years, BFS will show a small growth in Revenue. The Revenue will grow by 5.27% on average per year.
EPS Next Y-1.64%
EPS Next 2Y-10.77%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year4.33%
Revenue Next 2Y5.27%
Revenue Next 3YN/A
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.
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.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 20.83 indicates a rather expensive valuation of BFS.
BFS's Price/Earnings ratio is rather cheap when compared to the industry. BFS is cheaper than 83.33% of the companies in the same industry.
When comparing the Price/Earnings ratio of BFS to the average of the S&P500 Index (27.41), we can say BFS is valued slightly cheaper.
With a Price/Forward Earnings ratio of 28.06, BFS can be considered very expensive at the moment.
Based on the Price/Forward Earnings ratio, BFS is valued cheaper than 80.16% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 23.69. BFS is around the same levels.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 20.83 | ||
| Fwd PE | 28.06 |
4.2 Price Multiples
BFS's Enterprise Value to EBITDA is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 14.01 |
4.3 Compensation for Growth
The decent profitability rating of BFS may justify a higher PE ratio.
A cheap valuation may be justified as BFS's earnings are expected to decrease with -10.77% in the coming years.
PEG (NY)N/A
PEG (5Y)13.73
EPS Next 2Y-10.77%
EPS Next 3YN/A
5. Dividend
5.1 Amount
BFS has a Yearly Dividend Yield of 6.17%, which is a nice return.
Compared to an average industry Dividend Yield of 15.48, BFS pays a bit more dividend than its industry peers.
BFS's Dividend Yield is rather good when compared to the S&P500 average which is at 2.33.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.17% |
5.2 History
The dividend of BFS has a limited annual growth rate of 1.51%.
BFS has been paying a dividend for at least 10 years, so it has a reliable track record.
BFS has decreased its dividend recently.
Dividend Growth(5Y)1.51%
Div Incr Years0
Div Non Decr Years1
5.3 Sustainability
BFS pays out 152.69% of its income as dividend. This is not a sustainable payout ratio.
BFS's earnings are declining while the Dividend Rate has been growing. This means the dividend growth is most likely not sustainable.
DP152.69%
EPS Next 2Y-10.77%
EPS Next 3YN/A
SAUL CENTERS INC
NYSE:BFS (1/3/2025, 8:22:13 PM)
After market: 38.54 0 (0%)38.54
+0.3 (+0.78%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners46.18%
Inst Owner Change0.63%
Ins Owners48.08%
Ins Owner Change0.12%
Market Cap931.51M
Analysts80
Price Target47.94 (24.39%)
Short Float %0.78%
Short Ratio2.39
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.17% |
Dividend Growth(5Y)1.51%
DP152.69%
Div Incr Years0
Div Non Decr Years1
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)16.19%
Min EPS beat(2)10.52%
Max EPS beat(2)21.86%
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
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)1.33%
Min Revenue beat(2)1.28%
Max Revenue beat(2)1.39%
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
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)3.3%
PT rev (3m)3.3%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-5.88%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.15%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 20.83 | ||
| Fwd PE | 28.06 | ||
| P/S | 3.47 | ||
| P/FCF | N/A | ||
| P/OCF | 7.44 | ||
| P/B | 2.72 | ||
| P/tB | 2.72 | ||
| EV/EBITDA | 14.01 |
EPS(TTM)1.85
EY4.8%
EPS(NY)1.37
Fwd EY3.56%
FCF(TTM)-3.16
FCFYN/A
OCF(TTM)5.18
OCFY13.44%
SpS11.11
BVpS14.14
TBVpS14.14
PEG (NY)N/A
PEG (5Y)13.73
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.11% | ||
| ROE | 13.04% | ||
| ROCE | 6.12% | ||
| ROIC | 4.83% | ||
| ROICexc | 4.85% | ||
| ROICexgc | 4.88% | ||
| OM | 46.25% | ||
| PM (TTM) | 16.6% | ||
| GM | 73.85% | ||
| FCFM | N/A |
ROA(3y)2.11%
ROA(5y)2.07%
ROE(3y)10.28%
ROE(5y)9.71%
ROIC(3y)4.92%
ROIC(5y)4.98%
ROICexc(3y)4.95%
ROICexc(5y)5.03%
ROICexgc(3y)5%
ROICexgc(5y)5.06%
ROCE(3y)6.23%
ROCE(5y)6.3%
ROICexcg growth 3Y0.54%
ROICexcg growth 5Y-3.3%
ROICexc growth 3Y0.4%
ROICexc growth 5Y-3.38%
OM growth 3Y3.06%
OM growth 5Y-0.56%
PM growth 3Y8.3%
PM growth 5Y0.41%
GM growth 3Y-0.31%
GM growth 5Y-0.45%
F-Score6
Asset Turnover0.13
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 4.37 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 8.65 | ||
| Cap/Depr | 417.06% | ||
| Cap/Sales | 75.07% | ||
| Interest Coverage | 2.63 | ||
| Cash Conversion | 72.56% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.81 | ||
| Quick Ratio | 0.81 | ||
| Altman-Z | 0.43 |
F-Score6
WACC5.46%
ROIC/WACC0.88
Cap/Depr(3y)256.76%
Cap/Depr(5y)234.79%
Cap/Sales(3y)49.96%
Cap/Sales(5y)46.54%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)10.02%
EPS 3Y11.34%
EPS 5Y1.52%
EPS Q2Q%15.16%
EPS Next Y-1.64%
EPS Next 2Y-10.77%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)6.15%
Revenue growth 3Y3.81%
Revenue growth 5Y2.46%
Sales Q2Q%5.22%
Revenue Next Year4.33%
Revenue Next 2Y5.27%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y7.76%
EBIT growth 3Y6.99%
EBIT growth 5Y1.89%
EBIT Next Year44.97%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-485.85%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y3.11%
OCF growth 3Y14.51%
OCF growth 5Y1.31%