CBL & ASSOCIATES PROPERTIES (CBL) Stock Fundamental Analysis
NYSE:CBL - New York Stock Exchange, Inc. - US1248308785 - REIT - Currency: USD
CBL gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 128 industry peers in the Diversified REITs industry. There are concerns on the financial health of CBL while its profitability can be described as average. CBL has a valuation in line with the averages, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
CBL had positive earnings in the past year.
In the past year CBL had a positive cash flow from operations.
In multiple years CBL reported negative net income over the last 5 years.
CBL had a positive operating cash flow in 4 of the past 5 years.
1.2 Ratios
Looking at the Return On Assets, with a value of 1.41%, CBL is in the better half of the industry, outperforming 61.11% of the companies in the same industry.
CBL's Return On Equity of 10.27% is amongst the best of the industry. CBL outperforms 88.10% of its industry peers.
With an excellent Return On Invested Capital value of 5.54%, CBL belongs to the best of the industry, outperforming 93.65% of the companies in the same industry.
CBL had an Average Return On Invested Capital over the past 3 years of 3.30%. This is in line with the industry average of 3.13%.
The last Return On Invested Capital (5.54%) for CBL is above the 3 year average (3.30%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.41% | ||
| ROE | 10.27% | ||
| ROIC | 5.54% |
ROA(3y)-0.42%
ROA(5y)-5.97%
ROE(3y)-2.15%
ROE(5y)-45.2%
ROIC(3y)3.3%
ROIC(5y)3.43%
1.3 Margins
CBL has a Profit Margin of 6.05%. This is comparable to the rest of the industry: CBL outperforms 54.76% of its industry peers.
Looking at the Operating Margin, with a value of 24.88%, CBL is in line with its industry, outperforming 54.76% of the companies in the same industry.
In the last couple of years the Operating Margin of CBL has declined.
CBL has a Gross Margin of 66.23%. This is comparable to the rest of the industry: CBL outperforms 45.24% of its industry peers.
CBL's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 24.88% | ||
| PM (TTM) | 6.05% | ||
| GM | 66.23% |
OM growth 3Y5.04%
OM growth 5Y-1.77%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.65%
GM growth 5Y-1.16%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so CBL is destroying value.
CBL has less shares outstanding than it did 1 year ago.
Compared to 5 years ago, CBL has less shares outstanding
The debt/assets ratio for CBL is higher compared to a year ago.
2.2 Solvency
CBL has an Altman-Z score of 0.44. This is a bad value and indicates that CBL is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 0.44, CBL is doing worse than 60.32% of the companies in the same industry.
The Debt to FCF ratio of CBL is 10.82, which is on the high side as it means it would take CBL, 10.82 years of fcf income to pay off all of its debts.
CBL's Debt to FCF ratio of 10.82 is amongst the best of the industry. CBL outperforms 88.10% of its industry peers.
A Debt/Equity ratio of 5.76 is on the high side and indicates that CBL has dependencies on debt financing.
CBL has a Debt to Equity ratio of 5.76. This is amonst the worse of the industry: CBL underperforms 88.10% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 5.76 | ||
| Debt/FCF | 10.82 | ||
| Altman-Z | 0.44 |
ROIC/WACC0.65
WACC8.46%
2.3 Liquidity
A Current Ratio of 0.61 indicates that CBL may have some problems paying its short term obligations.
CBL's Current ratio of 0.61 is on the low side compared to the rest of the industry. CBL is outperformed by 78.57% of its industry peers.
A Quick Ratio of 0.61 indicates that CBL may have some problems paying its short term obligations.
CBL has a Quick ratio of 0.61. This is in the lower half of the industry: CBL underperforms 74.60% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.61 | ||
| Quick Ratio | 0.61 |
3. Growth
3.1 Past
CBL shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 1012.67%, which is quite impressive.
CBL shows a decrease in Revenue. In the last year, the revenue decreased by -3.71%.
Measured over the past years, CBL shows a decrease in Revenue. The Revenue has been decreasing by -7.68% on average per year.
EPS 1Y (TTM)1012.67%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%231.96%
Revenue 1Y (TTM)-3.71%
Revenue growth 3Y-3.68%
Revenue growth 5Y-7.68%
Sales Q2Q%-5.74%
3.2 Future
No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 16.65 indicates a correct valuation of CBL.
Based on the Price/Earnings ratio, CBL is valued cheaper than 85.71% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 29.62, CBL is valued a bit cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.65 | ||
| Fwd PE | N/A |
4.2 Price Multiples
CBL's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. CBL is cheaper than 85.71% of the companies in the same industry.
96.03% of the companies in the same industry are more expensive than CBL, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 5.87 | ||
| EV/EBITDA | 9.49 |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2YN/A
EPS Next 3YN/A
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 5.01%, CBL is a good candidate for dividend investing.
CBL's Dividend Yield is comparable with the industry average which is at 18.31.
CBL's Dividend Yield is rather good when compared to the S&P500 average which is at 2.27.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.01% |
5.2 History
The dividend of CBL is nicely growing with an annual growth rate of 22.86%!
CBL has been paying a dividend for at least 10 years, so it has a reliable track record.
CBL has decreased its dividend recently.
Dividend Growth(5Y)22.86%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
158.00% of the earnings are spent on dividend by CBL. This is not a sustainable payout ratio.
DP158%
EPS Next 2YN/A
EPS Next 3YN/A
31.31
-0.61 (-1.91%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners75.66%
Inst Owner Change-97.75%
Ins Owners11.54%
Ins Owner Change6.45%
Market Cap962.78M
Analysts80
Price Target36.72 (17.28%)
Short Float %4.92%
Short Ratio7.2
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.01% |
Yearly Dividend3.7
Dividend Growth(5Y)22.86%
DP158%
Div Incr Years1
Div Non Decr Years1
Ex-Date
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
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)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
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)0%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)N/A
EPS NY rev (3m)N/A
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)N/A
Revenue NY rev (3m)N/A
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.65 | ||
| Fwd PE | N/A | ||
| P/S | 1.84 | ||
| P/FCF | 5.87 | ||
| P/OCF | 4.69 | ||
| P/B | 3.12 | ||
| P/tB | 4.96 | ||
| EV/EBITDA | 9.49 |
EPS(TTM)1.88
EY6%
EPS(NY)N/A
Fwd EYN/A
FCF(TTM)5.33
FCFY17.04%
OCF(TTM)6.68
OCFY21.33%
SpS17.03
BVpS10.03
TBVpS6.32
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.41% | ||
| ROE | 10.27% | ||
| ROCE | 6.28% | ||
| ROIC | 5.54% | ||
| ROICexc | 5.72% | ||
| ROICexgc | 6.53% | ||
| OM | 24.88% | ||
| PM (TTM) | 6.05% | ||
| GM | 66.23% | ||
| FCFM | 31.33% |
ROA(3y)-0.42%
ROA(5y)-5.97%
ROE(3y)-2.15%
ROE(5y)-45.2%
ROIC(3y)3.3%
ROIC(5y)3.43%
ROICexc(3y)3.36%
ROICexc(5y)3.52%
ROICexgc(3y)3.94%
ROICexgc(5y)4.18%
ROCE(3y)3.74%
ROCE(5y)3.88%
ROICexcg growth 3Y-2.13%
ROICexcg growth 5Y4.12%
ROICexc growth 3Y2.61%
ROICexc growth 5Y1.51%
OM growth 3Y5.04%
OM growth 5Y-1.77%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.65%
GM growth 5Y-1.16%
F-Score7
Asset Turnover0.23
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 5.76 | ||
| Debt/FCF | 10.82 | ||
| Debt/EBITDA | 6.3 | ||
| Cap/Depr | 27.27% | ||
| Cap/Sales | 7.89% | ||
| Interest Coverage | 0.95 | ||
| Cash Conversion | 72.89% | ||
| Profit Quality | 517.86% | ||
| Current Ratio | 0.61 | ||
| Quick Ratio | 0.61 | ||
| Altman-Z | 0.44 |
F-Score7
WACC8.46%
ROIC/WACC0.65
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
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)1012.67%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%231.96%
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-3.71%
Revenue growth 3Y-3.68%
Revenue growth 5Y-7.68%
Sales Q2Q%-5.74%
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y65.74%
EBIT growth 3Y1.18%
EBIT growth 5Y-9.31%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y10.24%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y8.88%
OCF growth 3YN/A
OCF growth 5YN/A