COLLIERS INTL GR-SUBORD VOT (CIGI) Stock Fundamental Analysis
NASDAQ:CIGI - Nasdaq - CA1946931070 - Common Stock - Currency: USD
We assign a fundamental rating of 5 out of 10 to CIGI. CIGI was compared to 64 industry peers in the Real Estate Management & Development industry. While CIGI has a great profitability rating, there are quite some concerns on its financial health. CIGI has a decent growth rate and is not valued too expensively.
1. Profitability
1.1 Basic Checks
In the past year CIGI was profitable.
CIGI had a positive operating cash flow in the past year.
Of the past 5 years CIGI 4 years were profitable.
In the past 5 years CIGI always reported a positive cash flow from operatings.
1.2 Ratios
The Return On Assets of CIGI (2.65%) is better than 78.33% of its industry peers.
CIGI has a better Return On Equity (12.20%) than 93.33% of its industry peers.
CIGI has a better Return On Invested Capital (5.58%) than 85.00% of its industry peers.
CIGI had an Average Return On Invested Capital over the past 3 years of 6.63%. This is in line with the industry average of 4.87%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.65% | ||
| ROE | 12.2% | ||
| ROIC | 5.58% |
ROA(3y)1.58%
ROA(5y)-0.77%
ROE(3y)9.79%
ROE(5y)-5.86%
ROIC(3y)6.63%
ROIC(5y)7.32%
1.3 Margins
The Profit Margin of CIGI (3.35%) is better than 75.00% of its industry peers.
In the last couple of years the Profit Margin of CIGI has remained more or less at the same level.
With a decent Operating Margin value of 7.49%, CIGI is doing good in the industry, outperforming 76.67% of the companies in the same industry.
CIGI's Operating Margin has declined in the last couple of years.
CIGI has a Gross Margin of 39.86%. This is in the better half of the industry: CIGI outperforms 68.33% of its industry peers.
In the last couple of years the Gross Margin of CIGI has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 7.49% | ||
| PM (TTM) | 3.35% | ||
| GM | 39.86% |
OM growth 3Y-8.18%
OM growth 5Y-1.54%
PM growth 3YN/A
PM growth 5Y-0.15%
GM growth 3Y1.35%
GM growth 5Y2.25%
2. Health
2.1 Basic Checks
CIGI 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, CIGI has more shares outstanding
Compared to 5 years ago, CIGI has more shares outstanding
CIGI has a better debt/assets ratio than last year.
2.2 Solvency
CIGI has a debt to FCF ratio of 6.06. This is a slightly negative value and a sign of low solvency as CIGI would need 6.06 years to pay back of all of its debts.
The Debt to FCF ratio of CIGI (6.06) is better than 80.00% of its industry peers.
CIGI has a Debt/Equity ratio of 1.19. This is a high value indicating a heavy dependency on external financing.
With a Debt to Equity ratio value of 1.19, CIGI is not doing good in the industry: 71.67% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.19 | ||
| Debt/FCF | 6.06 | ||
| Altman-Z | N/A |
ROIC/WACC0.8
WACC6.95%
2.3 Liquidity
A Current Ratio of 1.06 indicates that CIGI should not have too much problems paying its short term obligations.
With a Current ratio value of 1.06, CIGI is not doing good in the industry: 66.67% of the companies in the same industry are doing better.
A Quick Ratio of 1.06 indicates that CIGI should not have too much problems paying its short term obligations.
CIGI has a Quick ratio of 1.06. This is in the lower half of the industry: CIGI underperforms 60.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.06 | ||
| Quick Ratio | 1.06 |
3. Growth
3.1 Past
The Earnings Per Share has been growing slightly by 6.53% over the past year.
CIGI shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 4.15% yearly.
Looking at the last year, CIGI shows a quite strong growth in Revenue. The Revenue has grown by 11.23% in the last year.
CIGI shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 9.62% yearly.
EPS 1Y (TTM)6.53%
EPS 3Y-2.39%
EPS 5Y4.15%
EPS Q2Q%13%
Revenue 1Y (TTM)11.23%
Revenue growth 3Y5.65%
Revenue growth 5Y9.62%
Sales Q2Q%21.57%
3.2 Future
CIGI is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 18.03% yearly.
CIGI is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 8.61% yearly.
EPS Next Y24.63%
EPS Next 2Y18.03%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year11.8%
Revenue Next 2Y8.61%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 21.98, which indicates a rather expensive current valuation of CIGI.
CIGI's Price/Earnings ratio is a bit cheaper when compared to the industry. CIGI is cheaper than 80.00% of the companies in the same industry.
CIGI is valuated rather cheaply when we compare the Price/Earnings ratio to 29.63, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 17.64 indicates a rather expensive valuation of CIGI.
Based on the Price/Forward Earnings ratio, CIGI is valued cheaply inside the industry as 86.67% of the companies are valued more expensively.
When comparing the Price/Forward Earnings ratio of CIGI to the average of the S&P500 Index (22.68), we can say CIGI is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.98 | ||
| Fwd PE | 17.64 |
4.2 Price Multiples
CIGI's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. CIGI is cheaper than 83.33% of the companies in the same industry.
CIGI's Price/Free Cash Flow ratio is rather cheap when compared to the industry. CIGI is cheaper than 83.33% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 24.34 | ||
| EV/EBITDA | 13.4 |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of CIGI may justify a higher PE ratio.
CIGI's earnings are expected to grow with 18.03% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.89
PEG (5Y)5.3
EPS Next 2Y18.03%
EPS Next 3YN/A
5. Dividend
5.1 Amount
CIGI has a yearly dividend return of 0.23%, which is pretty low.
Compared to an average industry Dividend Yield of 3.26, CIGI pays a bit more dividend than its industry peers.
With a Dividend Yield of 0.23, CIGI pays less dividend than the S&P500 average, which is at 2.29.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.23% |
5.2 History
On average, the dividend of CIGI grows each year by 24.82%, which is quite nice.
CIGI has been paying a dividend for at least 10 years, so it has a reliable track record.
As CIGI did not decrease their dividend in the past 5 years, we can say the dividend looks stable.
Dividend Growth(5Y)24.82%
Div Incr Years0
Div Non Decr Years7
5.3 Sustainability
CIGI pays out 9.07% of its income as dividend. This is a sustainable payout ratio.
CIGI's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP9.07%
EPS Next 2Y18.03%
EPS Next 3YN/A
125.5
-2.56 (-2%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryReal Estate Management & Development
Earnings (Last)
Earnings (Next)
Inst Owners78.57%
Inst Owner Change-2.01%
Ins Owners11.82%
Ins Owner Change0%
Market Cap6.35B
Analysts80
Price Target107.71 (-14.18%)
Short Float %0.63%
Short Ratio2.43
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.23% |
Yearly Dividend0.3
Dividend Growth(5Y)24.82%
DP9.07%
Div Incr Years0
Div Non Decr Years7
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-9.38%
Min EPS beat(2)-12.31%
Max EPS beat(2)-6.46%
EPS beat(4)0
Avg EPS beat(4)-10.06%
Min EPS beat(4)-19.81%
Max EPS beat(4)-1.65%
EPS beat(8)1
Avg EPS beat(8)-15.08%
EPS beat(12)3
Avg EPS beat(12)-9.69%
EPS beat(16)7
Avg EPS beat(16)3.77%
Revenue beat(2)1
Avg Revenue beat(2)0.88%
Min Revenue beat(2)-1.17%
Max Revenue beat(2)2.92%
Revenue beat(4)2
Avg Revenue beat(4)0.36%
Min Revenue beat(4)-1.17%
Max Revenue beat(4)2.92%
Revenue beat(8)2
Avg Revenue beat(8)-1.43%
Revenue beat(12)5
Avg Revenue beat(12)0.05%
Revenue beat(16)9
Avg Revenue beat(16)4.96%
PT rev (1m)-0.79%
PT rev (3m)1.41%
EPS NQ rev (1m)3.21%
EPS NQ rev (3m)2%
EPS NY rev (1m)0.24%
EPS NY rev (3m)-1.88%
Revenue NQ rev (1m)-10.08%
Revenue NQ rev (3m)-4.1%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.44%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.98 | ||
| Fwd PE | 17.64 | ||
| P/S | 1.32 | ||
| P/FCF | 24.34 | ||
| P/OCF | 19.48 | ||
| P/B | 4.79 | ||
| P/tB | N/A | ||
| EV/EBITDA | 13.4 |
EPS(TTM)5.71
EY4.55%
EPS(NY)7.12
Fwd EY5.67%
FCF(TTM)5.16
FCFY4.11%
OCF(TTM)6.44
OCFY5.13%
SpS95.28
BVpS26.19
TBVpS-42.6
PEG (NY)0.89
PEG (5Y)5.3
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.65% | ||
| ROE | 12.2% | ||
| ROCE | 7.87% | ||
| ROIC | 5.58% | ||
| ROICexc | 5.8% | ||
| ROICexgc | 25.86% | ||
| OM | 7.49% | ||
| PM (TTM) | 3.35% | ||
| GM | 39.86% | ||
| FCFM | 5.41% |
ROA(3y)1.58%
ROA(5y)-0.77%
ROE(3y)9.79%
ROE(5y)-5.86%
ROIC(3y)6.63%
ROIC(5y)7.32%
ROICexc(3y)6.97%
ROICexc(5y)8.07%
ROICexgc(3y)42.45%
ROICexgc(5y)43.63%
ROCE(3y)9.39%
ROCE(5y)10.64%
ROICexcg growth 3Y-27.1%
ROICexcg growth 5Y-9.65%
ROICexc growth 3Y-24.93%
ROICexc growth 5Y-9.69%
OM growth 3Y-8.18%
OM growth 5Y-1.54%
PM growth 3YN/A
PM growth 5Y-0.15%
GM growth 3Y1.35%
GM growth 5Y2.25%
F-Score6
Asset Turnover0.79
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.19 | ||
| Debt/FCF | 6.06 | ||
| Debt/EBITDA | 2.7 | ||
| Cap/Depr | 29.37% | ||
| Cap/Sales | 1.35% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 55.92% | ||
| Profit Quality | 161.34% | ||
| Current Ratio | 1.06 | ||
| Quick Ratio | 1.06 | ||
| Altman-Z | N/A |
F-Score6
WACC6.95%
ROIC/WACC0.8
Cap/Depr(3y)36.42%
Cap/Depr(5y)36.26%
Cap/Sales(3y)1.61%
Cap/Sales(5y)1.54%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)6.53%
EPS 3Y-2.39%
EPS 5Y4.15%
EPS Q2Q%13%
EPS Next Y24.63%
EPS Next 2Y18.03%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)11.23%
Revenue growth 3Y5.65%
Revenue growth 5Y9.62%
Sales Q2Q%21.57%
Revenue Next Year11.8%
Revenue Next 2Y8.61%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y3.17%
EBIT growth 3Y-3%
EBIT growth 5Y7.94%
EBIT Next Year77.38%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y221.58%
FCF growth 3Y4.14%
FCF growth 5Y-0.43%
OCF growth 1Y96.79%
OCF growth 3Y4.1%
OCF growth 5Y0.96%