COPT DEFENSE PROPERTIES (CDP) Stock Fundamental Analysis
NYSE:CDP - New York Stock Exchange, Inc. - US22002T1088 - REIT - Currency: USD
Overall CDP gets a fundamental rating of 4 out of 10. We evaluated CDP against 129 industry peers in the Diversified REITs industry. There are concerns on the financial health of CDP while its profitability can be described as average. CDP is quite expensive at the moment. It does show a decent growth rate. CDP also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
CDP had positive earnings in the past year.
Of the past 5 years CDP 4 years were profitable.
CDP had a positive operating cash flow in 4 of the past 5 years.
1.2 Ratios
CDP's Return On Assets of 3.25% is amongst the best of the industry. CDP outperforms 81.75% of its industry peers.
Looking at the Return On Equity, with a value of 9.27%, CDP belongs to the top of the industry, outperforming 86.51% of the companies in the same industry.
CDP's Return On Invested Capital of 4.21% is amongst the best of the industry. CDP outperforms 82.54% of its industry peers.
CDP had an Average Return On Invested Capital over the past 3 years of 3.83%. This is in line with the industry average of 3.11%.
The last Return On Invested Capital (4.21%) for CDP is above the 3 year average (3.83%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.25% | ||
| ROE | 9.27% | ||
| ROIC | 4.21% |
ROA(3y)1.85%
ROA(5y)1.94%
ROE(3y)4.83%
ROE(5y)5%
ROIC(3y)3.83%
ROIC(5y)3.63%
1.3 Margins
The Profit Margin of CDP (18.38%) is better than 73.81% of its industry peers.
In the last couple of years the Profit Margin of CDP has declined.
CDP has a Operating Margin of 28.32%. This is in the better half of the industry: CDP outperforms 60.32% of its industry peers.
CDP's Operating Margin has improved in the last couple of years.
The Gross Margin of CDP (55.75%) is worse than 73.02% of its industry peers.
In the last couple of years the Gross Margin of CDP has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 28.32% | ||
| PM (TTM) | 18.38% | ||
| GM | 55.75% |
OM growth 3Y3.71%
OM growth 5Y2.69%
PM growth 3Y17.14%
PM growth 5Y-10.06%
GM growth 3Y1.32%
GM growth 5Y1.12%
2. Health
2.1 Basic Checks
CDP has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for CDP remains at a similar level compared to 1 year ago.
CDP has more shares outstanding than it did 5 years ago.
The debt/assets ratio for CDP has been reduced compared to a year ago.
2.2 Solvency
CDP has an Altman-Z score of 0.62. This is a bad value and indicates that CDP is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of CDP (0.62) is comparable to the rest of the industry.
A Debt/Equity ratio of 1.60 is on the high side and indicates that CDP has dependencies on debt financing.
The Debt to Equity ratio of CDP (1.60) is worse than 66.67% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.6 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.62 |
ROIC/WACC0.67
WACC6.25%
2.3 Liquidity
CDP has a Current Ratio of 0.33. This is a bad value and indicates that CDP is not financially healthy enough and could expect problems in meeting its short term obligations.
The Current ratio of CDP (0.33) is worse than 89.68% of its industry peers.
A Quick Ratio of 0.33 indicates that CDP may have some problems paying its short term obligations.
The Quick ratio of CDP (0.33) is worse than 88.10% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.33 | ||
| Quick Ratio | 0.33 |
3. Growth
3.1 Past
CDP shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 283.58%, which is quite impressive.
CDP shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -6.38% yearly.
CDP shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 9.97%.
CDP shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 4.25% yearly.
EPS 1Y (TTM)283.58%
EPS 3Y21.84%
EPS 5Y-6.38%
EPS Q2Q%3.33%
Revenue 1Y (TTM)9.97%
Revenue growth 3Y4.27%
Revenue growth 5Y4.25%
Sales Q2Q%2.06%
3.2 Future
Based on estimates for the next years, CDP will show a small growth in Earnings Per Share. The EPS will grow by 2.98% on average per year.
CDP is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.77% yearly.
EPS Next Y9.76%
EPS Next 2Y4.77%
EPS Next 3Y2.98%
EPS Next 5YN/A
Revenue Next Year4.42%
Revenue Next 2Y5.42%
Revenue Next 3Y7.94%
Revenue Next 5Y5.77%
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 accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
CDP is valuated rather expensively with a Price/Earnings ratio of 21.76.
Based on the Price/Earnings ratio, CDP is valued cheaply inside the industry as 81.75% of the companies are valued more expensively.
When comparing the Price/Earnings ratio of CDP to the average of the S&P500 Index (29.63), we can say CDP is valued slightly cheaper.
CDP is valuated rather expensively with a Price/Forward Earnings ratio of 19.83.
Based on the Price/Forward Earnings ratio, CDP is valued cheaper than 92.06% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.68. CDP is around the same levels.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.76 | ||
| Fwd PE | 19.83 |
4.2 Price Multiples
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates CDP does not grow enough to justify the current Price/Earnings ratio.
CDP has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)2.23
PEG (5Y)N/A
EPS Next 2Y4.77%
EPS Next 3Y2.98%
5. Dividend
5.1 Amount
CDP has a Yearly Dividend Yield of 4.24%, which is a nice return.
Compared to an average industry Dividend Yield of 18.48, CDP has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.29, CDP pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.24% |
5.2 History
The dividend of CDP has a limited annual growth rate of 0.90%.
CDP has paid a dividend for at least 10 years, which is a reliable track record.
CDP has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)0.9%
Div Incr Years2
Div Non Decr Years12
5.3 Sustainability
The dividend of CDP is growing, but earnings are growing more, so the dividend growth is sustainable.
DP0%
EPS Next 2Y4.77%
EPS Next 3Y2.98%
26.77
+0.04 (+0.15%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners106.45%
Inst Owner ChangeN/A
Ins Owners0.33%
Ins Owner Change-12.21%
Market Cap3.02B
Analysts78.18
Price Target36.04 (34.63%)
Short Float %4.53%
Short Ratio5.4
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.24% |
Yearly Dividend1.13
Dividend Growth(5Y)0.9%
DP0%
Div Incr Years2
Div Non Decr Years12
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-3.67%
Min EPS beat(2)-7.92%
Max EPS beat(2)0.58%
EPS beat(4)1
Avg EPS beat(4)-2.54%
Min EPS beat(4)-7.92%
Max EPS beat(4)0.58%
EPS beat(8)2
Avg EPS beat(8)-82.86%
EPS beat(12)4
Avg EPS beat(12)-44.88%
EPS beat(16)5
Avg EPS beat(16)-40.91%
Revenue beat(2)1
Avg Revenue beat(2)2.57%
Min Revenue beat(2)-0.33%
Max Revenue beat(2)5.48%
Revenue beat(4)1
Avg Revenue beat(4)0.05%
Min Revenue beat(4)-3.23%
Max Revenue beat(4)5.48%
Revenue beat(8)5
Avg Revenue beat(8)3.67%
Revenue beat(12)9
Avg Revenue beat(12)10.57%
Revenue beat(16)13
Avg Revenue beat(16)11.08%
PT rev (1m)-1.85%
PT rev (3m)8.96%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)2.3%
EPS NY rev (3m)2.3%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-2.45%
Revenue NY rev (3m)-3.16%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.76 | ||
| Fwd PE | 19.83 | ||
| P/S | 4 | ||
| P/FCF | N/A | ||
| P/OCF | N/A | ||
| P/B | 2.02 | ||
| P/tB | 2.02 | ||
| EV/EBITDA | N/A |
EPS(TTM)1.23
EY4.59%
EPS(NY)1.35
Fwd EY5.04%
FCF(TTM)N/A
FCFYN/A
OCF(TTM)N/A
OCFYN/A
SpS6.68
BVpS13.25
TBVpS13.25
PEG (NY)2.23
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.25% | ||
| ROE | 9.27% | ||
| ROCE | 5.32% | ||
| ROIC | 4.21% | ||
| ROICexc | 4.25% | ||
| ROICexgc | 4.32% | ||
| OM | 28.32% | ||
| PM (TTM) | 18.38% | ||
| GM | 55.75% | ||
| FCFM | N/A |
ROA(3y)1.85%
ROA(5y)1.94%
ROE(3y)4.83%
ROE(5y)5%
ROIC(3y)3.83%
ROIC(5y)3.63%
ROICexc(3y)3.9%
ROICexc(5y)3.67%
ROICexgc(3y)3.97%
ROICexgc(5y)3.75%
ROCE(3y)4.85%
ROCE(5y)4.59%
ROICexcg growth 3Y7.88%
ROICexcg growth 5Y4.93%
ROICexc growth 3Y8.15%
ROICexc growth 5Y5.04%
OM growth 3Y3.71%
OM growth 5Y2.69%
PM growth 3Y17.14%
PM growth 5Y-10.06%
GM growth 3Y1.32%
GM growth 5Y1.12%
F-ScoreN/A
Asset Turnover0.18
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.6 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | N/A | ||
| Cash Conversion | N/A | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.33 | ||
| Quick Ratio | 0.33 | ||
| Altman-Z | 0.62 |
F-ScoreN/A
WACC6.25%
ROIC/WACC0.67
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)283.58%
EPS 3Y21.84%
EPS 5Y-6.38%
EPS Q2Q%3.33%
EPS Next Y9.76%
EPS Next 2Y4.77%
EPS Next 3Y2.98%
EPS Next 5YN/A
Revenue 1Y (TTM)9.97%
Revenue growth 3Y4.27%
Revenue growth 5Y4.25%
Sales Q2Q%2.06%
Revenue Next Year4.42%
Revenue Next 2Y5.42%
Revenue Next 3Y7.94%
Revenue Next 5Y5.77%
EBIT growth 1Y13.18%
EBIT growth 3Y8.14%
EBIT growth 5Y7.06%
EBIT Next Year81.29%
EBIT Next 3Y27.69%
EBIT Next 5YN/A
FCF growth 1YN/A
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1YN/A
OCF growth 3YN/A
OCF growth 5YN/A