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 65 industry peers in the Real Estate Management & Development industry. There are concerns on the financial health of CIGI while its profitability can be described as average. CIGI has a correct valuation and a medium growth rate.
1. Profitability
1.1 Basic Checks
CIGI had positive earnings in the past year.
CIGI had a positive operating cash flow in the past year.
Of the past 5 years CIGI 4 years were profitable.
Each year in the past 5 years CIGI had a positive operating cash flow.
1.2 Ratios
Looking at the Return On Assets, with a value of 2.37%, CIGI is in the better half of the industry, outperforming 75.38% of the companies in the same industry.
With an excellent Return On Equity value of 10.80%, CIGI belongs to the best of the industry, outperforming 92.31% of the companies in the same industry.
With a decent Return On Invested Capital value of 5.32%, CIGI is doing good in the industry, outperforming 78.46% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for CIGI is in line with the industry average of 5.47%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.37% | ||
| ROE | 10.8% | ||
| ROIC | 5.32% |
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
Looking at the Profit Margin, with a value of 2.92%, CIGI is in the better half of the industry, outperforming 75.38% of the companies in the same industry.
In the last couple of years the Profit Margin of CIGI has remained more or less at the same level.
CIGI has a Operating Margin of 7.20%. This is in the better half of the industry: CIGI outperforms 73.85% of its industry peers.
CIGI's Operating Margin has declined in the last couple of years.
CIGI has a Gross Margin of 39.89%. This is in the better half of the industry: CIGI outperforms 69.23% of its industry peers.
In the last couple of years the Gross Margin of CIGI has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 7.2% | ||
| PM (TTM) | 2.92% | ||
| GM | 39.89% |
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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so CIGI is destroying value.
CIGI has more shares outstanding than it did 1 year ago.
CIGI has more shares outstanding than it did 5 years ago.
The debt/assets ratio for CIGI has been reduced compared to a year ago.
2.2 Solvency
An Altman-Z score of 1.86 indicates that CIGI is not a great score, but indicates only limited risk for bankruptcy at the moment.
CIGI's Altman-Z score of 1.86 is in line compared to the rest of the industry. CIGI outperforms 60.00% of its industry peers.
The Debt to FCF ratio of CIGI is 10.90, which is on the high side as it means it would take CIGI, 10.90 years of fcf income to pay off all of its debts.
CIGI's Debt to FCF ratio of 10.90 is fine compared to the rest of the industry. CIGI outperforms 70.77% of its industry peers.
A Debt/Equity ratio of 1.30 is on the high side and indicates that CIGI has dependencies on debt financing.
CIGI has a worse Debt to Equity ratio (1.30) than 70.77% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.3 | ||
| Debt/FCF | 10.9 | ||
| Altman-Z | 1.86 |
ROIC/WACC0.75
WACC7.11%
2.3 Liquidity
CIGI has a Current Ratio of 1.17. This is a normal value and indicates that CIGI is financially healthy and should not expect problems in meeting its short term obligations.
CIGI has a Current ratio (1.17) which is comparable to the rest of the industry.
A Quick Ratio of 1.17 indicates that CIGI should not have too much problems paying its short term obligations.
CIGI's Quick ratio of 1.17 is in line compared to the rest of the industry. CIGI outperforms 46.15% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.17 | ||
| Quick Ratio | 1.17 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 10.25% 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 13.50% in the last year.
The Revenue has been growing by 9.62% on average over the past years. This is quite good.
EPS 1Y (TTM)10.25%
EPS 3Y-2.39%
EPS 5Y4.15%
EPS Q2Q%12.99%
Revenue 1Y (TTM)13.5%
Revenue growth 3Y5.65%
Revenue growth 5Y9.62%
Sales Q2Q%13.89%
3.2 Future
The Earnings Per Share is expected to grow by 15.92% on average over the next years. This is quite good.
The Revenue is expected to grow by 9.12% on average over the next years. This is quite good.
EPS Next Y15.4%
EPS Next 2Y15.16%
EPS Next 3Y15.92%
EPS Next 5YN/A
Revenue Next Year13.17%
Revenue Next 2Y9.88%
Revenue Next 3Y9.12%
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
With a Price/Earnings ratio of 23.15, CIGI is valued on the expensive side.
Based on the Price/Earnings ratio, CIGI is valued a bit cheaper than 78.46% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 27.30. CIGI is around the same levels.
With a Price/Forward Earnings ratio of 17.76, CIGI is valued on the expensive side.
Based on the Price/Forward Earnings ratio, CIGI is valued cheaply inside the industry as 87.69% of the companies are valued more expensively.
The average S&P500 Price/Forward Earnings ratio is at 21.76. CIGI is around the same levels.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 23.15 | ||
| Fwd PE | 17.76 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, CIGI is valued cheaper than 81.54% of the companies in the same industry.
67.69% of the companies in the same industry are more expensive than CIGI, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 42.45 | ||
| EV/EBITDA | 14.03 |
4.3 Compensation for Growth
CIGI's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
CIGI has a very decent profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as CIGI's earnings are expected to grow with 15.92% in the coming years.
PEG (NY)1.5
PEG (5Y)5.58
EPS Next 2Y15.16%
EPS Next 3Y15.92%
5. Dividend
5.1 Amount
CIGI has a yearly dividend return of 0.24%, which is pretty low.
CIGI's Dividend Yield is a higher than the industry average which is at 3.58.
Compared to an average S&P500 Dividend Yield of 2.37, CIGI's dividend is way lower than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.24% |
5.2 History
The dividend of CIGI is nicely growing with an annual growth rate of 24.82%!
CIGI has paid a dividend for at least 10 years, which is a reliable track record.
CIGI has not decreased its dividend in the past 5 years, so it has a somewhat stable track record.
Dividend Growth(5Y)24.82%
Div Incr Years0
Div Non Decr Years8
5.3 Sustainability
CIGI pays out 10.45% 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.
DP10.45%
EPS Next 2Y15.16%
EPS Next 3Y15.92%
134.53
-0.2 (-0.15%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryReal Estate Management & Development
Earnings (Last)
Earnings (Next)
Inst Owners77.19%
Inst Owner Change0%
Ins Owners11.79%
Ins Owner Change0%
Market Cap6.81B
Analysts80
Price Target117.8 (-12.44%)
Short Float %0.9%
Short Ratio3.05
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.24% |
Yearly Dividend0.3
Dividend Growth(5Y)24.82%
DP10.45%
Div Incr Years0
Div Non Decr Years8
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-3.45%
Min EPS beat(2)-6.46%
Max EPS beat(2)-0.44%
EPS beat(4)0
Avg EPS beat(4)-5.21%
Min EPS beat(4)-12.31%
Max EPS beat(4)-0.44%
EPS beat(8)1
Avg EPS beat(8)-10.06%
EPS beat(12)2
Avg EPS beat(12)-10.78%
EPS beat(16)6
Avg EPS beat(16)-0.07%
Revenue beat(2)1
Avg Revenue beat(2)0.15%
Min Revenue beat(2)-2.63%
Max Revenue beat(2)2.92%
Revenue beat(4)2
Avg Revenue beat(4)-0.08%
Min Revenue beat(4)-2.63%
Max Revenue beat(4)2.92%
Revenue beat(8)2
Avg Revenue beat(8)-1.32%
Revenue beat(12)4
Avg Revenue beat(12)-0.98%
Revenue beat(16)8
Avg Revenue beat(16)4.12%
PT rev (1m)-29.02%
PT rev (3m)15.19%
EPS NQ rev (1m)-0.25%
EPS NQ rev (3m)-2.94%
EPS NY rev (1m)0%
EPS NY rev (3m)-0.45%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-1.35%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.59%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 23.15 | ||
| Fwd PE | 17.76 | ||
| P/S | 1.37 | ||
| P/FCF | 42.45 | ||
| P/OCF | 30.5 | ||
| P/B | 5.08 | ||
| P/tB | N/A | ||
| EV/EBITDA | 14.03 |
EPS(TTM)5.81
EY4.32%
EPS(NY)7.57
Fwd EY5.63%
FCF(TTM)3.17
FCFY2.36%
OCF(TTM)4.41
OCFY3.28%
SpS98.01
BVpS26.49
TBVpS-42.31
PEG (NY)1.5
PEG (5Y)5.58
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.37% | ||
| ROE | 10.8% | ||
| ROCE | 7.5% | ||
| ROIC | 5.32% | ||
| ROICexc | 5.53% | ||
| ROICexgc | 21.94% | ||
| OM | 7.2% | ||
| PM (TTM) | 2.92% | ||
| GM | 39.89% | ||
| FCFM | 3.23% |
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)6.99%
ROICexc(5y)8.08%
ROICexgc(3y)42.89%
ROICexgc(5y)43.89%
ROCE(3y)9.39%
ROCE(5y)10.64%
ROICexcg growth 3Y-25.89%
ROICexcg growth 5Y-8.75%
ROICexc growth 3Y-24.66%
ROICexc growth 5Y-9.49%
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-Score4
Asset Turnover0.81
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.3 | ||
| Debt/FCF | 10.9 | ||
| Debt/EBITDA | 2.94 | ||
| Cap/Depr | 26.81% | ||
| Cap/Sales | 1.27% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 37.74% | ||
| Profit Quality | 110.78% | ||
| Current Ratio | 1.17 | ||
| Quick Ratio | 1.17 | ||
| Altman-Z | 1.86 |
F-Score4
WACC7.11%
ROIC/WACC0.75
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)10.25%
EPS 3Y-2.39%
EPS 5Y4.15%
EPS Q2Q%12.99%
EPS Next Y15.4%
EPS Next 2Y15.16%
EPS Next 3Y15.92%
EPS Next 5YN/A
Revenue 1Y (TTM)13.5%
Revenue growth 3Y5.65%
Revenue growth 5Y9.62%
Sales Q2Q%13.89%
Revenue Next Year13.17%
Revenue Next 2Y9.88%
Revenue Next 3Y9.12%
Revenue Next 5YN/A
EBIT growth 1Y2.93%
EBIT growth 3Y-3%
EBIT growth 5Y7.94%
EBIT Next Year65.42%
EBIT Next 3Y24.76%
EBIT Next 5YN/A
FCF growth 1Y15.87%
FCF growth 3Y4.14%
FCF growth 5Y-0.43%
OCF growth 1Y3.77%
OCF growth 3Y4.1%
OCF growth 5Y0.96%