FCPT gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 30 industry peers in the Specialized REITs industry. While FCPT is still in line with the averages on profitability rating, there are concerns on its financial health. FCPT is quite expensive at the moment. It does show a decent growth rate.

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1. Profitability

2. Health

3. Growth

4. Valuation

5. Dividend

1. Profitability

1.1 Basic Checks

FCPT had positive earnings in the past year.
In the past year FCPT had a positive cash flow from operations.
In the past 5 years FCPT has always been profitable.
In the past 5 years FCPT always reported a positive cash flow from operatings.

1.2 Ratios

FCPT's Return On Assets of 3.85% is fine compared to the rest of the industry. FCPT outperforms 70.00% of its industry peers.
FCPT's Return On Equity of 7.11% is fine compared to the rest of the industry. FCPT outperforms 63.33% of its industry peers.
FCPT has a Return On Invested Capital (4.57%) which is comparable to the rest of the industry.
The Average Return On Invested Capital over the past 3 years for FCPT is in line with the industry average of 4.86%.

		Industry Rank	Sector Rank
ROA	3.85%
ROE	7.11%
ROIC	4.57%

ROA(3y)4.04%

ROA(5y)4.25%

ROE(3y)7.71%

ROE(5y)8.24%

ROIC(3y)4.58%

ROIC(5y)4.79%

1.3 Margins

FCPT has a better Profit Margin (38.04%) than 86.67% of its industry peers.
FCPT's Profit Margin has declined in the last couple of years.
FCPT has a better Operating Margin (55.67%) than 86.67% of its industry peers.
FCPT's Operating Margin has declined in the last couple of years.

		Industry Rank	Sector Rank
OM	55.67%
PM (TTM)	38.04%
GM	N/A

OM growth 3Y-1.84%

OM growth 5Y-2.04%

PM growth 3Y-4.42%

PM growth 5Y-3.73%

GM growth 3YN/A

GM growth 5YN/A

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

FCPT 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 FCPT has been increased compared to 1 year ago.
The number of shares outstanding for FCPT has been increased compared to 5 years ago.
FCPT has a better debt/assets ratio than last year.

2.2 Solvency

Based on the Altman-Z score of 1.41, we must say that FCPT is in the distress zone and has some risk of bankruptcy.
FCPT has a Altman-Z score of 1.41. This is in the better half of the industry: FCPT outperforms 76.67% of its industry peers.
A Debt/Equity ratio of 0.79 indicates that FCPT is somewhat dependend on debt financing.
The Debt to Equity ratio of FCPT (0.79) is better than 76.67% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	0.79
Debt/FCF	N/A
Altman-Z	1.41

ROIC/WACC0.58

WACC7.93%

2.3 Liquidity

A Current Ratio of 0.18 indicates that FCPT may have some problems paying its short term obligations.
FCPT has a worse Current ratio (0.18) than 86.67% of its industry peers.
A Quick Ratio of 0.18 indicates that FCPT may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.18, FCPT is doing worse than 86.67% of the companies in the same industry.

		Industry Rank	Sector Rank
Current Ratio	0.18
Quick Ratio	0.18

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WACC

Debt/Equity

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Altman-Z score

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3. Growth

3.1 Past

The Earnings Per Share has been growing slightly by 1.87% over the past year.
FCPT shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 0.19% yearly.
Looking at the last year, FCPT shows a quite strong growth in Revenue. The Revenue has grown by 8.28% in the last year.
The Revenue has been growing by 10.85% on average over the past years. This is quite good.

EPS 1Y (TTM)1.87%

EPS 3Y-0.92%

EPS 5Y0.19%

EPS Q2Q%3.7%

Revenue 1Y (TTM)8.28%

Revenue growth 3Y10.37%

Revenue growth 5Y10.85%

Sales Q2Q%11.02%

3.2 Future

The Earnings Per Share is expected to grow by 4.37% on average over the next years.
FCPT is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 7.89% yearly.

EPS Next Y5.05%

EPS Next 2Y5.52%

EPS Next 3Y4.37%

EPS Next 5YN/A

Revenue Next Year15.42%

Revenue Next 2Y9.57%

Revenue Next 3Y7.89%

Revenue Next 5YN/A

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 decreasing: in the next years the growth will be less than in the last years.

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4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 22.31, FCPT is valued on the expensive side.
Based on the Price/Earnings ratio, FCPT is valued cheaper than 86.67% of the companies in the same industry.
FCPT is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 27.25, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 20.41, the valuation of FCPT can be described as rather expensive.
Based on the Price/Forward Earnings ratio, FCPT is valued a bit cheaper than the industry average as 80.00% of the companies are valued more expensively.
FCPT's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 25.98.

		Industry Rank	Sector Rank
PE	22.31
Fwd PE	20.41

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, FCPT is valued a bit cheaper than 66.67% of the companies in the same industry.

		Industry Rank	Sector Rank
P/FCF	N/A
EV/EBITDA	17.38

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.

PEG (NY)4.42

PEG (5Y)118.7

EPS Next 2Y5.52%

EPS Next 3Y4.37%

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5. Dividend

5.1 Amount

FCPT has a Yearly Dividend Yield of 6.04%, which is a nice return.
Compared to an average industry Dividend Yield of 5.51, FCPT pays a bit more dividend than its industry peers.
FCPT's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.

		Industry Rank	Sector Rank
Dividend Yield	6.04%

5.2 History

The dividend of FCPT has a limited annual growth rate of 3.33%.
FCPT has paid a dividend for at least 10 years, which is a reliable track record.
FCPT has not decreased its dividend in the last 3 years.

Dividend Growth(5Y)3.33%

Div Incr Years3

Div Non Decr Years3

5.3 Sustainability

128.50% of the earnings are spent on dividend by FCPT. This is not a sustainable payout ratio.
The dividend of FCPT is growing, but earnings are growing more, so the dividend growth is sustainable.

DP128.5%

EPS Next 2Y5.52%

EPS Next 3Y4.37%

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FOUR CORNERS PROPERTY TRUST / FCPT FAQ

What is the ChartMill fundamental rating of FOUR CORNERS PROPERTY TRUST (FCPT) stock?

ChartMill assigns a fundamental rating of 4 / 10 to FCPT.

What is the valuation status for FCPT stock?

ChartMill assigns a valuation rating of 3 / 10 to FOUR CORNERS PROPERTY TRUST (FCPT). This can be considered as Overvalued.

How profitable is FOUR CORNERS PROPERTY TRUST (FCPT) stock?

FOUR CORNERS PROPERTY TRUST (FCPT) has a profitability rating of 5 / 10.

How financially healthy is FOUR CORNERS PROPERTY TRUST?

The financial health rating of FOUR CORNERS PROPERTY TRUST (FCPT) is 2 / 10.

What is the earnings growth outlook for FOUR CORNERS PROPERTY TRUST?

The Earnings per Share (EPS) of FOUR CORNERS PROPERTY TRUST (FCPT) is expected to grow by 5.05% in the next year.