BRIXMOR PROPERTY GROUP INC (BRX) Stock Fundamental Analysis
NYSE:BRX - New York Stock Exchange, Inc. - US11120U1051 - REIT - Currency: USD
Overall BRX gets a fundamental rating of 4 out of 10. We evaluated BRX against 130 industry peers in the Diversified REITs industry. While BRX has a great profitability rating, there are quite some concerns on its financial health. BRX has a decent growth rate and is not valued too expensively.
1. Profitability
1.1 Basic Checks
In the past year BRX was profitable.
In the past year BRX had a positive cash flow from operations.
BRX had positive earnings in each of the past 5 years.
In the past 5 years BRX always reported a positive cash flow from operatings.
1.2 Ratios
BRX's Return On Assets of 4.75% is amongst the best of the industry. BRX outperforms 92.31% of its industry peers.
BRX has a better Return On Equity (13.82%) than 93.85% of its industry peers.
BRX has a Return On Invested Capital of 6.05%. This is amongst the best in the industry. BRX outperforms 96.15% of its industry peers.
The Average Return On Invested Capital over the past 3 years for BRX is in line with the industry average of 3.16%.
The 3 year average ROIC (4.88%) for BRX is below the current ROIC(6.05%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.75% | ||
| ROE | 13.82% | ||
| ROIC | 6.05% |
ROA(3y)3.88%
ROA(5y)3.26%
ROE(3y)11.45%
ROE(5y)9.75%
ROIC(3y)4.88%
ROIC(5y)4.52%
1.3 Margins
BRX has a better Profit Margin (25.16%) than 80.00% of its industry peers.
In the last couple of years the Profit Margin of BRX has grown nicely.
BRX has a Operating Margin of 36.35%. This is amongst the best in the industry. BRX outperforms 81.54% of its industry peers.
BRX's Operating Margin has been stable in the last couple of years.
BRX has a better Gross Margin (75.27%) than 72.31% of its industry peers.
In the last couple of years the Gross Margin of BRX has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 36.35% | ||
| PM (TTM) | 25.16% | ||
| GM | 75.27% |
OM growth 3Y-0.02%
OM growth 5Y-0.47%
PM growth 3Y4.08%
PM growth 5Y2.36%
GM growth 3Y0.52%
GM growth 5Y0.17%
2. Health
2.1 Basic Checks
BRX 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, BRX has more shares outstanding
BRX has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, BRX has a worse debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 1.11, we must say that BRX is in the distress zone and has some risk of bankruptcy.
With a decent Altman-Z score value of 1.11, BRX is doing good in the industry, outperforming 79.23% of the companies in the same industry.
A Debt/Equity ratio of 1.73 is on the high side and indicates that BRX has dependencies on debt financing.
BRX has a Debt to Equity ratio of 1.73. This is in the lower half of the industry: BRX underperforms 66.92% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.73 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 1.11 |
ROIC/WACC0.89
WACC6.77%
2.3 Liquidity
A Current Ratio of 0.43 indicates that BRX may have some problems paying its short term obligations.
BRX has a Current ratio of 0.43. This is amonst the worse of the industry: BRX underperforms 80.77% of its industry peers.
BRX has a Quick Ratio of 0.43. This is a bad value and indicates that BRX is not financially healthy enough and could expect problems in meeting its short term obligations.
BRX's Quick ratio of 0.42 is on the low side compared to the rest of the industry. BRX is outperformed by 80.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.43 | ||
| Quick Ratio | 0.42 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 12.90% over the past year.
Measured over the past 5 years, BRX shows a small growth in Earnings Per Share. The EPS has been growing by 3.83% on average per year.
BRX shows a strong growth in Revenue. In the last year, the Revenue has grown by 29.41%.
The Revenue has been growing slightly by 1.92% on average over the past years.
EPS 1Y (TTM)12.9%
EPS 3Y7.24%
EPS 5Y3.83%
EPS Q2Q%-20.69%
Revenue 1Y (TTM)29.41%
Revenue growth 3Y3.7%
Revenue growth 5Y1.92%
Sales Q2Q%5.56%
3.2 Future
BRX is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -3.70% yearly.
BRX is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.40% yearly.
EPS Next Y-19.52%
EPS Next 2Y-6.16%
EPS Next 3Y-0.89%
EPS Next 5Y-3.7%
Revenue Next Year5.1%
Revenue Next 2Y4.72%
Revenue Next 3Y4.93%
Revenue Next 5Y5.4%
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
The Price/Earnings ratio is 24.70, which indicates a rather expensive current valuation of BRX.
Compared to the rest of the industry, the Price/Earnings ratio of BRX indicates a somewhat cheap valuation: BRX is cheaper than 75.38% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of BRX to the average of the S&P500 Index (27.51), we can say BRX is valued inline with the index average.
With a Price/Forward Earnings ratio of 26.54, BRX can be considered very expensive at the moment.
Based on the Price/Forward Earnings ratio, BRX is valued cheaper than 80.77% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 35.58, BRX is valued a bit cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 24.7 | ||
| Fwd PE | 26.54 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, BRX is valued a bit cheaper than 63.08% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 13.13 |
4.3 Compensation for Growth
The excellent profitability rating of BRX may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)6.46
EPS Next 2Y-6.16%
EPS Next 3Y-0.89%
5. Dividend
5.1 Amount
BRX has a Yearly Dividend Yield of 4.49%, which is a nice return.
Compared to an average industry Dividend Yield of 6.44, BRX is paying slightly less dividend.
Compared to an average S&P500 Dividend Yield of 2.35, BRX pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.49% |
5.2 History
The dividend of BRX decreases each year by -0.56%.
BRX has been paying a dividend for at least 10 years, so it has a reliable track record.
BRX has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)-0.56%
Div Incr Years4
Div Non Decr Years4
5.3 Sustainability
82.49% of the earnings are spent on dividend by BRX. This is not a sustainable payout ratio.
The Dividend Rate of BRX has been decling, while earnings will also be declining. This means the current dividend is most likely not sustainable.
DP82.49%
EPS Next 2Y-6.16%
EPS Next 3Y-0.89%
25.94
+0.09 (+0.35%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners101.09%
Inst Owner Change0%
Ins Owners0.39%
Ins Owner Change0.2%
Market Cap7.94B
Analysts80
Price Target30.57 (17.85%)
Short Float %4.24%
Short Ratio5.46
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.49% |
Yearly Dividend1.09
Dividend Growth(5Y)-0.56%
DP82.49%
Div Incr Years4
Div Non Decr Years4
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)11.15%
Min EPS beat(2)2.35%
Max EPS beat(2)19.95%
EPS beat(4)4
Avg EPS beat(4)18.14%
Min EPS beat(4)2.35%
Max EPS beat(4)44.96%
EPS beat(8)7
Avg EPS beat(8)14.83%
EPS beat(12)11
Avg EPS beat(12)28.62%
EPS beat(16)15
Avg EPS beat(16)36.59%
Revenue beat(2)1
Avg Revenue beat(2)0.29%
Min Revenue beat(2)-0.6%
Max Revenue beat(2)1.17%
Revenue beat(4)1
Avg Revenue beat(4)-0.51%
Min Revenue beat(4)-1.79%
Max Revenue beat(4)1.17%
Revenue beat(8)3
Avg Revenue beat(8)-0.32%
Revenue beat(12)5
Avg Revenue beat(12)-0.07%
Revenue beat(16)9
Avg Revenue beat(16)0.56%
PT rev (1m)-0.39%
PT rev (3m)-5.34%
EPS NQ rev (1m)-0.2%
EPS NQ rev (3m)-4.66%
EPS NY rev (1m)-1.36%
EPS NY rev (3m)-2.99%
Revenue NQ rev (1m)-0.09%
Revenue NQ rev (3m)0.23%
Revenue NY rev (1m)0.07%
Revenue NY rev (3m)0.52%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 24.7 | ||
| Fwd PE | 26.54 | ||
| P/S | 4.89 | ||
| P/FCF | N/A | ||
| P/OCF | 12.68 | ||
| P/B | 2.69 | ||
| P/tB | 2.69 | ||
| EV/EBITDA | 13.13 |
EPS(TTM)1.05
EY4.05%
EPS(NY)0.98
Fwd EY3.77%
FCF(TTM)-0.1
FCFYN/A
OCF(TTM)2.05
OCFY7.89%
SpS5.3
BVpS9.65
TBVpS9.65
PEG (NY)N/A
PEG (5Y)6.46
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.75% | ||
| ROE | 13.82% | ||
| ROCE | 7.66% | ||
| ROIC | 6.05% | ||
| ROICexc | 6.14% | ||
| ROICexgc | 6.15% | ||
| OM | 36.35% | ||
| PM (TTM) | 25.16% | ||
| GM | 75.27% | ||
| FCFM | N/A |
ROA(3y)3.88%
ROA(5y)3.26%
ROE(3y)11.45%
ROE(5y)9.75%
ROIC(3y)4.88%
ROIC(5y)4.52%
ROICexc(3y)4.98%
ROICexc(5y)4.66%
ROICexgc(3y)4.99%
ROICexgc(5y)4.67%
ROCE(3y)6.18%
ROCE(5y)5.73%
ROICexcg growth 3Y5.16%
ROICexcg growth 5Y4.28%
ROICexc growth 3Y5.16%
ROICexc growth 5Y4.27%
OM growth 3Y-0.02%
OM growth 5Y-0.47%
PM growth 3Y4.08%
PM growth 5Y2.36%
GM growth 3Y0.52%
GM growth 5Y0.17%
F-Score6
Asset Turnover0.19
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.73 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 5.18 | ||
| Cap/Depr | 165.73% | ||
| Cap/Sales | 40.42% | ||
| Interest Coverage | 2.77 | ||
| Cash Conversion | 63.54% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.43 | ||
| Quick Ratio | 0.42 | ||
| Altman-Z | 1.11 |
F-Score6
WACC6.77%
ROIC/WACC0.89
Cap/Depr(3y)160.08%
Cap/Depr(5y)147.91%
Cap/Sales(3y)46.34%
Cap/Sales(5y)43.12%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)12.9%
EPS 3Y7.24%
EPS 5Y3.83%
EPS Q2Q%-20.69%
EPS Next Y-19.52%
EPS Next 2Y-6.16%
EPS Next 3Y-0.89%
EPS Next 5Y-3.7%
Revenue 1Y (TTM)29.41%
Revenue growth 3Y3.7%
Revenue growth 5Y1.92%
Sales Q2Q%5.56%
Revenue Next Year5.1%
Revenue Next 2Y4.72%
Revenue Next 3Y4.93%
Revenue Next 5Y5.4%
EBIT growth 1Y29.99%
EBIT growth 3Y3.69%
EBIT growth 5Y1.45%
EBIT Next Year85.06%
EBIT Next 3Y26.81%
EBIT Next 5Y21.65%
FCF growth 1Y-364.76%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y6.29%
OCF growth 3Y4.2%
OCF growth 5Y3.39%