KIMCO REALTY CORP (KIM) Stock Fundamental Analysis
NYSE:KIM - New York Stock Exchange, Inc. - US49446R1095 - REIT - Currency: USD
We assign a fundamental rating of 5 out of 10 to KIM. KIM was compared to 130 industry peers in the Diversified REITs industry. Both the profitability and the financial health of KIM get a neutral evaluation. Nothing too spectacular is happening here. KIM is not valued too expensively and it also shows a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year KIM was profitable.
In the past year KIM had a positive cash flow from operations.
KIM had positive earnings in each of the past 5 years.
KIM had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
KIM has a Return On Assets of 2.61%. This is in the better half of the industry: KIM outperforms 73.08% of its industry peers.
KIM's Return On Equity of 4.87% is fine compared to the rest of the industry. KIM outperforms 68.46% of its industry peers.
KIM has a Return On Invested Capital of 2.77%. This is comparable to the rest of the industry: KIM outperforms 50.77% of its industry peers.
The Average Return On Invested Capital over the past 3 years for KIM is in line with the industry average of 3.16%.
The last Return On Invested Capital (2.77%) for KIM is above the 3 year average (2.59%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.61% | ||
| ROE | 4.87% | ||
| ROIC | 2.77% |
ROA(3y)1.94%
ROA(5y)3.72%
ROE(3y)3.71%
ROE(5y)7.34%
ROIC(3y)2.59%
ROIC(5y)2.41%
1.3 Margins
With a decent Profit Margin value of 24.90%, KIM is doing good in the industry, outperforming 79.23% of the companies in the same industry.
KIM's Profit Margin has declined in the last couple of years.
The Operating Margin of KIM (32.77%) is better than 70.77% of its industry peers.
KIM's Operating Margin has declined in the last couple of years.
With a Gross Margin value of 68.70%, KIM perfoms like the industry average, outperforming 55.38% of the companies in the same industry.
In the last couple of years the Gross Margin of KIM has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 32.77% | ||
| PM (TTM) | 24.9% | ||
| GM | 68.7% |
OM growth 3Y-0.51%
OM growth 5Y-3.5%
PM growth 3Y-32.69%
PM growth 5Y-8.94%
GM growth 3Y-0.33%
GM growth 5Y-0.64%
2. Health
2.1 Basic Checks
KIM 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 KIM has been increased compared to 1 year ago.
Compared to 5 years ago, KIM has more shares outstanding
KIM has about the same debt/assets ratio as last year.
2.2 Solvency
KIM has an Altman-Z score of 1.15. This is a bad value and indicates that KIM is not financially healthy and even has some risk of bankruptcy.
With an excellent Altman-Z score value of 1.15, KIM belongs to the best of the industry, outperforming 80.77% of the companies in the same industry.
KIM has a debt to FCF ratio of 17.38. This is a negative value and a sign of low solvency as KIM would need 17.38 years to pay back of all of its debts.
KIM has a better Debt to FCF ratio (17.38) than 81.54% of its industry peers.
KIM has a Debt/Equity ratio of 0.76. This is a neutral value indicating KIM is somewhat dependend on debt financing.
With a decent Debt to Equity ratio value of 0.76, KIM is doing good in the industry, outperforming 72.31% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.76 | ||
| Debt/FCF | 17.38 | ||
| Altman-Z | 1.15 |
ROIC/WACC0.4
WACC6.93%
2.3 Liquidity
A Current Ratio of 1.24 indicates that KIM should not have too much problems paying its short term obligations.
KIM has a Current ratio of 1.24. This is in the better half of the industry: KIM outperforms 62.31% of its industry peers.
A Quick Ratio of 1.24 indicates that KIM should not have too much problems paying its short term obligations.
KIM has a Quick ratio of 1.24. This is in the better half of the industry: KIM outperforms 63.08% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.24 | ||
| Quick Ratio | 1.24 |
3. Growth
3.1 Past
KIM shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 42.59%, which is quite impressive.
Measured over the past years, KIM shows a decrease in Earnings Per Share. The EPS has been decreasing by -6.89% on average per year.
KIM shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 12.23%.
KIM shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 11.94% yearly.
EPS 1Y (TTM)42.59%
EPS 3Y-29.53%
EPS 5Y-6.89%
EPS Q2Q%700%
Revenue 1Y (TTM)12.23%
Revenue growth 3Y14.29%
Revenue growth 5Y11.94%
Sales Q2Q%7.56%
3.2 Future
Based on estimates for the next years, KIM will show a small growth in Earnings Per Share. The EPS will grow by 7.34% on average per year.
KIM is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.96% yearly.
EPS Next Y23.65%
EPS Next 2Y14.13%
EPS Next 3Y13%
EPS Next 5Y7.34%
Revenue Next Year5.27%
Revenue Next 2Y4.26%
Revenue Next 3Y2.96%
Revenue Next 5Y3.96%
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.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 28.14, the valuation of KIM can be described as expensive.
Based on the Price/Earnings ratio, KIM is valued a bit cheaper than the industry average as 66.92% of the companies are valued more expensively.
Compared to an average S&P500 Price/Earnings ratio of 27.50, KIM is valued at the same level.
A Price/Forward Earnings ratio of 29.71 indicates a quite expensive valuation of KIM.
Based on the Price/Forward Earnings ratio, KIM is valued a bit cheaper than 76.15% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of KIM to the average of the S&P500 Index (36.44), we can say KIM is valued inline with the index average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 28.14 | ||
| Fwd PE | 29.71 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of KIM indicates a slightly more expensive valuation: KIM is more expensive than 76.15% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, KIM is valued a bit cheaper than 72.31% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 31.75 | ||
| EV/EBITDA | 17.54 |
4.3 Compensation for Growth
KIM's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
KIM has a very decent profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as KIM's earnings are expected to grow with 13.00% in the coming years.
PEG (NY)1.19
PEG (5Y)N/A
EPS Next 2Y14.13%
EPS Next 3Y13%
5. Dividend
5.1 Amount
KIM has a Yearly Dividend Yield of 4.68%, which is a nice return.
KIM's Dividend Yield is slightly below the industry average, which is at 6.42.
Compared to an average S&P500 Dividend Yield of 2.35, KIM pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.68% |
5.2 History
The dividend of KIM decreases each year by -3.26%.
KIM has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)-3.26%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
KIM pays out 134.86% of its income as dividend. This is not a sustainable payout ratio.
DP134.86%
EPS Next 2Y14.13%
EPS Next 3Y13%
21.67
+0.01 (+0.05%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners97.22%
Inst Owner Change0%
Ins Owners2.18%
Ins Owner Change1.48%
Market Cap14.66B
Analysts71.85
Price Target24.52 (13.15%)
Short Float %2.85%
Short Ratio4.31
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.68% |
Yearly Dividend1.06
Dividend Growth(5Y)-3.26%
DP134.86%
Div Incr Years0
Div Non Decr Years0
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)14.81%
Min EPS beat(2)3.1%
Max EPS beat(2)26.51%
EPS beat(4)4
Avg EPS beat(4)12.13%
Min EPS beat(4)3.1%
Max EPS beat(4)26.51%
EPS beat(8)6
Avg EPS beat(8)-2.33%
EPS beat(12)7
Avg EPS beat(12)-28.29%
EPS beat(16)10
Avg EPS beat(16)43.37%
Revenue beat(2)2
Avg Revenue beat(2)1.67%
Min Revenue beat(2)1.6%
Max Revenue beat(2)1.74%
Revenue beat(4)3
Avg Revenue beat(4)0.52%
Min Revenue beat(4)-1.3%
Max Revenue beat(4)1.74%
Revenue beat(8)5
Avg Revenue beat(8)0.84%
Revenue beat(12)9
Avg Revenue beat(12)1.07%
Revenue beat(16)13
Avg Revenue beat(16)2.78%
PT rev (1m)0%
PT rev (3m)-3.94%
EPS NQ rev (1m)-0.43%
EPS NQ rev (3m)-2.94%
EPS NY rev (1m)-1.64%
EPS NY rev (3m)1.46%
Revenue NQ rev (1m)0.03%
Revenue NQ rev (3m)-0.19%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.42%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 28.14 | ||
| Fwd PE | 29.71 | ||
| P/S | 7.08 | ||
| P/FCF | 31.75 | ||
| P/OCF | 13.92 | ||
| P/B | 1.38 | ||
| P/tB | 1.38 | ||
| EV/EBITDA | 17.54 |
EPS(TTM)0.77
EY3.55%
EPS(NY)0.73
Fwd EY3.37%
FCF(TTM)0.68
FCFY3.15%
OCF(TTM)1.56
OCFY7.19%
SpS3.06
BVpS15.65
TBVpS15.65
PEG (NY)1.19
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.61% | ||
| ROE | 4.87% | ||
| ROCE | 3.51% | ||
| ROIC | 2.77% | ||
| ROICexc | 2.79% | ||
| ROICexgc | 2.83% | ||
| OM | 32.77% | ||
| PM (TTM) | 24.9% | ||
| GM | 68.7% | ||
| FCFM | 22.3% |
ROA(3y)1.94%
ROA(5y)3.72%
ROE(3y)3.71%
ROE(5y)7.34%
ROIC(3y)2.59%
ROIC(5y)2.41%
ROICexc(3y)2.67%
ROICexc(5y)2.47%
ROICexgc(3y)2.72%
ROICexgc(5y)2.5%
ROCE(3y)3.28%
ROCE(5y)3.05%
ROICexcg growth 3Y11.55%
ROICexcg growth 5Y-4.11%
ROICexc growth 3Y10.84%
ROICexc growth 5Y-4.28%
OM growth 3Y-0.51%
OM growth 5Y-3.5%
PM growth 3Y-32.69%
PM growth 5Y-8.94%
GM growth 3Y-0.33%
GM growth 5Y-0.64%
F-Score6
Asset Turnover0.1
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.76 | ||
| Debt/FCF | 17.38 | ||
| Debt/EBITDA | 6.24 | ||
| Cap/Depr | 97.41% | ||
| Cap/Sales | 28.59% | ||
| Interest Coverage | 2.18 | ||
| Cash Conversion | 81.92% | ||
| Profit Quality | 89.58% | ||
| Current Ratio | 1.24 | ||
| Quick Ratio | 1.24 | ||
| Altman-Z | 1.15 |
F-Score6
WACC6.93%
ROIC/WACC0.4
Cap/Depr(3y)94.6%
Cap/Depr(5y)114.14%
Cap/Sales(3y)27.48%
Cap/Sales(5y)32.82%
Profit Quality(3y)199.49%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)42.59%
EPS 3Y-29.53%
EPS 5Y-6.89%
EPS Q2Q%700%
EPS Next Y23.65%
EPS Next 2Y14.13%
EPS Next 3Y13%
EPS Next 5Y7.34%
Revenue 1Y (TTM)12.23%
Revenue growth 3Y14.29%
Revenue growth 5Y11.94%
Sales Q2Q%7.56%
Revenue Next Year5.27%
Revenue Next 2Y4.26%
Revenue Next 3Y2.96%
Revenue Next 5Y3.96%
EBIT growth 1Y13.65%
EBIT growth 3Y13.71%
EBIT growth 5Y8.02%
EBIT Next Year105.71%
EBIT Next 3Y29.14%
EBIT Next 5Y18.95%
FCF growth 1Y8.2%
FCF growth 3YN/A
FCF growth 5Y30.79%
OCF growth 1Y4.11%
OCF growth 3Y17.56%
OCF growth 5Y11.5%