FOUR CORNERS PROPERTY TRUST (FCPT) Stock Fundamental Analysis
NYSE:FCPT - New York Stock Exchange, Inc. - US35086T1097 - REIT - Currency: USD
Taking everything into account, FCPT scores 4 out of 10 in our fundamental rating. FCPT was compared to 30 industry peers in the Specialized REITs industry. There are concerns on the financial health of FCPT while its profitability can be described as average. FCPT is valied quite expensively at the moment, while it does show a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year FCPT was profitable.
FCPT had a positive operating cash flow in the past year.
Each year in the past 5 years FCPT has been profitable.
FCPT had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
FCPT has a better Return On Assets (3.78%) than 63.33% of its industry peers.
The Return On Equity of FCPT (7.17%) is better than 70.00% of its industry peers.
Looking at the Return On Invested Capital, with a value of 4.54%, FCPT is in line with its industry, outperforming 56.67% of the companies in the same industry.
FCPT had an Average Return On Invested Capital over the past 3 years of 4.58%. This is in line with the industry average of 5.28%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.78% | ||
| ROE | 7.17% | ||
| ROIC | 4.54% |
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 (37.57%) than 90.00% of its industry peers.
FCPT's Profit Margin has declined in the last couple of years.
Looking at the Operating Margin, with a value of 55.52%, FCPT belongs to the top of the industry, outperforming 86.67% of the companies in the same industry.
In the last couple of years the Operating Margin of FCPT has declined.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 55.52% | ||
| PM (TTM) | 37.57% | ||
| 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
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so FCPT is destroying value.
FCPT has more shares outstanding than it did 1 year ago.
The number of shares outstanding for FCPT has been increased compared to 5 years ago.
Compared to 1 year ago, FCPT has an improved debt to assets ratio.
2.2 Solvency
FCPT has an Altman-Z score of 1.49. This is a bad value and indicates that FCPT is not financially healthy and even has some risk of bankruptcy.
FCPT has a Altman-Z score of 1.49. This is in the better half of the industry: FCPT outperforms 73.33% of its industry peers.
A Debt/Equity ratio of 0.84 indicates that FCPT is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.84, FCPT is in the better half of the industry, outperforming 63.33% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.84 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 1.49 |
ROIC/WACC0.58
WACC7.76%
2.3 Liquidity
FCPT has a Current Ratio of 0.41. This is a bad value and indicates that FCPT is not financially healthy enough and could expect problems in meeting its short term obligations.
FCPT has a Current ratio of 0.41. This is in the lower half of the industry: FCPT underperforms 70.00% of its industry peers.
FCPT has a Quick Ratio of 0.41. This is a bad value and indicates that FCPT is not financially healthy enough and could expect problems in meeting its short term obligations.
FCPT's Quick ratio of 0.41 is on the low side compared to the rest of the industry. FCPT is outperformed by 70.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.41 | ||
| Quick Ratio | 0.41 |
3. Growth
3.1 Past
The earnings per share for FCPT have decreased by 0.00% in the last year.
The Earnings Per Share has been growing slightly by 0.19% on average over the past years.
Looking at the last year, FCPT shows a small growth in Revenue. The Revenue has grown by 6.21% 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)0%
EPS 3Y-0.92%
EPS 5Y0.19%
EPS Q2Q%0%
Revenue 1Y (TTM)6.21%
Revenue growth 3Y10.37%
Revenue growth 5Y10.85%
Sales Q2Q%7.54%
3.2 Future
Based on estimates for the next years, FCPT will show a small growth in Earnings Per Share. The EPS will grow by 4.49% on average per year.
FCPT is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 9.81% yearly.
EPS Next Y5.81%
EPS Next 2Y4.7%
EPS Next 3Y4.49%
EPS Next 5YN/A
Revenue Next Year10.13%
Revenue Next 2Y9.68%
Revenue Next 3Y9.81%
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 stable: in the next years the growth will be about the same than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
FCPT is valuated quite expensively with a Price/Earnings ratio of 25.39.
73.33% of the companies in the same industry are more expensive than FCPT, based on the Price/Earnings ratio.
Compared to an average S&P500 Price/Earnings ratio of 27.21, FCPT is valued at the same level.
Based on the Price/Forward Earnings ratio of 23.16, the valuation of FCPT can be described as rather expensive.
80.00% of the companies in the same industry are more expensive than FCPT, based on the Price/Forward Earnings ratio.
Compared to an average S&P500 Price/Forward Earnings ratio of 21.70, FCPT is valued at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.39 | ||
| Fwd PE | 23.16 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of FCPT is on the same level as its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 18.69 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates FCPT does not grow enough to justify the current Price/Earnings ratio.
PEG (NY)4.37
PEG (5Y)135.09
EPS Next 2Y4.7%
EPS Next 3Y4.49%
5. Dividend
5.1 Amount
FCPT has a Yearly Dividend Yield of 5.20%, which is a nice return.
Compared to an average industry Dividend Yield of 5.88, FCPT has a dividend in line with its industry peers.
FCPT's Dividend Yield is rather good when compared to the S&P500 average which is at 2.42.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.2% |
5.2 History
The dividend of FCPT has a limited annual growth rate of 3.33%.
FCPT has been paying a dividend for at least 10 years, so it has 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
128.60% of the earnings are spent on dividend by FCPT. This is not a sustainable payout ratio.
FCPT's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP128.6%
EPS Next 2Y4.7%
EPS Next 3Y4.49%
27.17
+0.26 (+0.97%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)
Earnings (Next)
Inst Owners105.09%
Inst Owner Change4.93%
Ins Owners1.19%
Ins Owner Change7.81%
Market Cap2.72B
Analysts76
Price Target30.45 (12.07%)
Short Float %5.57%
Short Ratio8.49
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.2% |
Yearly Dividend1.34
Dividend Growth(5Y)3.33%
DP128.6%
Div Incr Years3
Div Non Decr Years3
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-6.21%
Min EPS beat(2)-6.29%
Max EPS beat(2)-6.13%
EPS beat(4)0
Avg EPS beat(4)-4.75%
Min EPS beat(4)-6.29%
Max EPS beat(4)-1.96%
EPS beat(8)1
Avg EPS beat(8)-3.38%
EPS beat(12)2
Avg EPS beat(12)-2.91%
EPS beat(16)4
Avg EPS beat(16)-2.45%
Revenue beat(2)2
Avg Revenue beat(2)2.14%
Min Revenue beat(2)1.84%
Max Revenue beat(2)2.43%
Revenue beat(4)3
Avg Revenue beat(4)1.58%
Min Revenue beat(4)-0.25%
Max Revenue beat(4)2.43%
Revenue beat(8)5
Avg Revenue beat(8)0.58%
Revenue beat(12)7
Avg Revenue beat(12)0.43%
Revenue beat(16)10
Avg Revenue beat(16)0.77%
PT rev (1m)-1.88%
PT rev (3m)-1.42%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0.36%
EPS NY rev (1m)0%
EPS NY rev (3m)-1.07%
Revenue NQ rev (1m)-0.56%
Revenue NQ rev (3m)-0.33%
Revenue NY rev (1m)-0.77%
Revenue NY rev (3m)-0.11%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.39 | ||
| Fwd PE | 23.16 | ||
| P/S | 9.95 | ||
| P/FCF | N/A | ||
| P/OCF | 16.16 | ||
| P/B | 1.9 | ||
| P/tB | 2.07 | ||
| EV/EBITDA | 18.69 |
EPS(TTM)1.07
EY3.94%
EPS(NY)1.17
Fwd EY4.32%
FCF(TTM)-1.46
FCFYN/A
OCF(TTM)1.68
OCFY6.19%
SpS2.73
BVpS14.31
TBVpS13.11
PEG (NY)4.37
PEG (5Y)135.09
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.78% | ||
| ROE | 7.17% | ||
| ROCE | 5.74% | ||
| ROIC | 4.54% | ||
| ROICexc | 4.57% | ||
| ROICexgc | 4.83% | ||
| OM | 55.52% | ||
| PM (TTM) | 37.57% | ||
| GM | N/A | ||
| FCFM | N/A |
ROA(3y)4.04%
ROA(5y)4.25%
ROE(3y)7.71%
ROE(5y)8.24%
ROIC(3y)4.58%
ROIC(5y)4.79%
ROICexc(3y)4.61%
ROICexc(5y)4.82%
ROICexgc(3y)4.92%
ROICexgc(5y)5.13%
ROCE(3y)5.8%
ROCE(5y)6.06%
ROICexcg growth 3Y-3.23%
ROICexcg growth 5Y-3.69%
ROICexc growth 3Y-3.17%
ROICexc growth 5Y-3.96%
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
F-Score5
Asset Turnover0.1
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.84 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 5.8 | ||
| Cap/Depr | 566.35% | ||
| Cap/Sales | 115.05% | ||
| Interest Coverage | 2.57 | ||
| Cash Conversion | 81.14% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.41 | ||
| Quick Ratio | 0.41 | ||
| Altman-Z | 1.49 |
F-Score5
WACC7.76%
ROIC/WACC0.58
Cap/Depr(3y)629.03%
Cap/Depr(5y)688.48%
Cap/Sales(3y)123.56%
Cap/Sales(5y)128.03%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)0%
EPS 3Y-0.92%
EPS 5Y0.19%
EPS Q2Q%0%
EPS Next Y5.81%
EPS Next 2Y4.7%
EPS Next 3Y4.49%
EPS Next 5YN/A
Revenue 1Y (TTM)6.21%
Revenue growth 3Y10.37%
Revenue growth 5Y10.85%
Sales Q2Q%7.54%
Revenue Next Year10.13%
Revenue Next 2Y9.68%
Revenue Next 3Y9.81%
Revenue Next 5YN/A
EBIT growth 1Y6.91%
EBIT growth 3Y8.34%
EBIT growth 5Y8.59%
EBIT Next Year50.82%
EBIT Next 3Y22.98%
EBIT Next 5YN/A
FCF growth 1Y-13.47%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y15.81%
OCF growth 3Y5.59%
OCF growth 5Y6.6%