KIMCO REALTY CORP (KIM)
US49446R1095 - REIT
We assign a fundamental rating of 5 out of 10 to KIM. KIM was compared to 130 industry peers in the Diversified REITs industry. KIM scores excellent on profitability, but there are some minor concerns on its financial health. KIM does not seem to be growing, but still is valued expensively.
1. Profitability
1.1 Basic Checks
In the past year KIM was profitable.
KIM had a positive operating cash flow in the past year.
In the past 5 years KIM has always been profitable.
Each year in the past 5 years KIM had a positive operating cash flow.
1.2 Ratios
KIM's Return On Assets of 3.42% is amongst the best of the industry. KIM outperforms 83.59% of its industry peers.
Looking at the Return On Equity, with a value of 6.57%, KIM belongs to the top of the industry, outperforming 80.47% of the companies in the same industry.
KIM has a Return On Invested Capital (2.57%) which is in line with its industry peers.
KIM had an Average Return On Invested Capital over the past 3 years of 2.37%. This is in line with the industry average of 3.08%.
The last Return On Invested Capital (2.57%) for KIM is above the 3 year average (2.37%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.42% | ||
| ROE | 6.57% | ||
| ROIC | 2.57% |
ROA(3y)2.8%
ROA(5y)3.97%
ROE(3y)5.28%
ROE(5y)8.02%
ROIC(3y)2.37%
ROIC(5y)2.55%
1.3 Margins
KIM has a better Profit Margin (35.09%) than 86.72% of its industry peers.
KIM's Profit Margin has been stable in the last couple of years.
KIM has a Operating Margin of 32.67%. This is in the better half of the industry: KIM outperforms 70.31% of its industry peers.
In the last couple of years the Operating Margin of KIM has declined.
KIM has a Gross Margin of 68.78%. This is comparable to the rest of the industry: KIM outperforms 52.34% of its industry peers.
KIM's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 32.67% | ||
| PM (TTM) | 35.09% | ||
| GM | 68.78% |
OM growth 3Y1.27%
OM growth 5Y-2.5%
PM growth 3Y-27.4%
PM growth 5Y-0.98%
GM growth 3Y0.59%
GM growth 5Y-0.85%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), KIM is destroying value.
The number of shares outstanding for KIM has been increased compared to 1 year ago.
The number of shares outstanding for KIM has been increased compared to 5 years ago.
Compared to 1 year ago, KIM has a worse debt to assets ratio.
2.2 Solvency
KIM has an Altman-Z score of 1.33. This is a bad value and indicates that KIM is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 1.33, KIM belongs to the top of the industry, outperforming 84.38% of the companies in the same industry.
KIM has a debt to FCF ratio of 14.37. This is a negative value and a sign of low solvency as KIM would need 14.37 years to pay back of all of its debts.
KIM's Debt to FCF ratio of 14.37 is amongst the best of the industry. KIM outperforms 82.03% of its industry peers.
KIM has a Debt/Equity ratio of 0.80. This is a neutral value indicating KIM is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.80, KIM is in the better half of the industry, outperforming 72.66% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.8 | ||
| Debt/FCF | 14.37 | ||
| Altman-Z | 1.33 |
ROIC/WACC0.36
WACC7.13%
2.3 Liquidity
KIM has a Current Ratio of 3.29. This indicates that KIM is financially healthy and has no problem in meeting its short term obligations.
With an excellent Current ratio value of 3.29, KIM belongs to the best of the industry, outperforming 88.28% of the companies in the same industry.
A Quick Ratio of 3.29 indicates that KIM has no problem at all paying its short term obligations.
KIM has a Quick ratio of 3.29. This is amongst the best in the industry. KIM outperforms 88.28% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 3.29 | ||
| Quick Ratio | 3.29 |
3. Growth
3.1 Past
The earnings per share for KIM have decreased strongly by -23.61% in the last year.
The Earnings Per Share has been growing slightly by 0.20% on average over the past years.
Looking at the last year, KIM shows a small growth in Revenue. The Revenue has grown by 3.22% in the last year.
KIM shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 8.89% yearly.
EPS 1Y (TTM)-23.61%
EPS 3Y-23.04%
EPS 5Y0.2%
EPS Q2Q%0%
Revenue 1Y (TTM)3.22%
Revenue growth 3Y19.01%
Revenue growth 5Y8.89%
Sales Q2Q%12.73%
3.2 Future
Based on estimates for the next years, KIM will show a decrease in Earnings Per Share. The EPS will decrease by -5.22% on average per year.
The Revenue is expected to grow by 4.97% on average over the next years.
EPS Next Y-49.5%
EPS Next 2Y-15.07%
EPS Next 3Y-9%
EPS Next 5Y-5.22%
Revenue Next Year13.69%
Revenue Next 2Y8.55%
Revenue Next 3Y6.99%
Revenue Next 5Y4.97%
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
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
KIM is valuated quite expensively with a Price/Earnings ratio of 42.58.
KIM's Price/Earnings is on the same level as the industry average.
KIM's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 27.73.
With a Price/Forward Earnings ratio of 31.52, KIM can be considered very expensive at the moment.
75.00% of the companies in the same industry are more expensive than KIM, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of KIM to the average of the S&P500 Index (22.83), we can say KIM is valued slightly more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 42.58 | ||
| Fwd PE | 31.52 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, KIM is valued expensively inside the industry as 85.16% of the companies are valued cheaper.
KIM's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. KIM is cheaper than 66.41% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 29.79 | ||
| EV/EBITDA | 20.75 |
4.3 Compensation for Growth
KIM has a very decent profitability rating, which may justify a higher PE ratio.
KIM's earnings are expected to decrease with -9.00% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)218.02
EPS Next 2Y-15.07%
EPS Next 3Y-9%
5. Dividend
5.1 Amount
KIM has a Yearly Dividend Yield of 4.35%, which is a nice return.
Compared to an average industry Dividend Yield of 15.49, KIM has a dividend in line with its industry peers.
KIM's Dividend Yield is rather good when compared to the S&P500 average which is at 2.34.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.35% |
5.2 History
The dividend of KIM decreases each year by -15.17%.
KIM has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)-15.17%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
105.05% of the earnings are spent on dividend by KIM. This is not a sustainable payout ratio.
KIM's earnings and Dividend Rate are declining. This means the current dividend is most likely not sustainable.
DP105.05%
EPS Next 2Y-15.07%
EPS Next 3Y-9%
KIMCO REALTY CORP
NYSE:KIM (12/20/2024, 8:21:15 PM)
After market: 23.42 0 (0%)23.42
+0.41 (+1.78%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners94.48%
Inst Owner Change0.22%
Ins Owners2.16%
Ins Owner Change-0.66%
Market Cap15.79B
Analysts74.07
Price Target26.2 (11.87%)
Short Float %2.21%
Short Ratio3.73
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.35% |
Dividend Growth(5Y)-15.17%
DP105.05%
Div Incr Years0
Div Non Decr Years0
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)28.73%
Min EPS beat(2)17.57%
Max EPS beat(2)39.89%
EPS beat(4)3
Avg EPS beat(4)43.66%
Min EPS beat(4)-7.72%
Max EPS beat(4)124.91%
EPS beat(8)4
Avg EPS beat(8)-15.35%
EPS beat(12)7
Avg EPS beat(12)80.79%
EPS beat(16)10
Avg EPS beat(16)208.38%
Revenue beat(2)1
Avg Revenue beat(2)0.58%
Min Revenue beat(2)-0.07%
Max Revenue beat(2)1.23%
Revenue beat(4)2
Avg Revenue beat(4)0.4%
Min Revenue beat(4)-0.07%
Max Revenue beat(4)1.23%
Revenue beat(8)6
Avg Revenue beat(8)1.13%
Revenue beat(12)10
Avg Revenue beat(12)3.77%
Revenue beat(16)13
Avg Revenue beat(16)2.75%
PT rev (1m)5.91%
PT rev (3m)12.49%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)4.63%
EPS NY rev (3m)7.93%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0.2%
Revenue NY rev (3m)0.59%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 42.58 | ||
| Fwd PE | 31.52 | ||
| P/S | 8.85 | ||
| P/FCF | 29.79 | ||
| P/OCF | 14.73 | ||
| P/B | 1.66 | ||
| P/tB | 1.66 | ||
| EV/EBITDA | 20.75 |
EPS(TTM)0.55
EY2.35%
EPS(NY)0.74
Fwd EY3.17%
FCF(TTM)0.79
FCFY3.36%
OCF(TTM)1.59
OCFY6.79%
SpS2.65
BVpS14.13
TBVpS14.13
PEG (NY)N/A
PEG (5Y)218.02
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.42% | ||
| ROE | 6.57% | ||
| ROCE | 3.25% | ||
| ROIC | 2.57% | ||
| ROICexc | 2.68% | ||
| ROICexgc | 2.75% | ||
| OM | 32.67% | ||
| PM (TTM) | 35.09% | ||
| GM | 68.78% | ||
| FCFM | 29.71% |
ROA(3y)2.8%
ROA(5y)3.97%
ROE(3y)5.28%
ROE(5y)8.02%
ROIC(3y)2.37%
ROIC(5y)2.55%
ROICexc(3y)2.43%
ROICexc(5y)2.6%
ROICexgc(3y)2.47%
ROICexgc(5y)2.64%
ROCE(3y)3%
ROCE(5y)3.23%
ROICexcg growth 3Y5.1%
ROICexcg growth 5Y-3.65%
ROICexc growth 3Y4.15%
ROICexc growth 5Y-3.67%
OM growth 3Y1.27%
OM growth 5Y-2.5%
PM growth 3Y-27.4%
PM growth 5Y-0.98%
GM growth 3Y0.59%
GM growth 5Y-0.85%
F-Score6
Asset Turnover0.1
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.8 | ||
| Debt/FCF | 14.37 | ||
| Debt/EBITDA | 6.99 | ||
| Cap/Depr | 106.79% | ||
| Cap/Sales | 30.37% | ||
| Interest Coverage | 2.33 | ||
| Cash Conversion | 98.33% | ||
| Profit Quality | 84.67% | ||
| Current Ratio | 3.29 | ||
| Quick Ratio | 3.29 | ||
| Altman-Z | 1.33 |
F-Score6
WACC7.13%
ROIC/WACC0.36
Cap/Depr(3y)134.31%
Cap/Depr(5y)130.39%
Cap/Sales(3y)38.81%
Cap/Sales(5y)35.82%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-23.61%
EPS 3Y-23.04%
EPS 5Y0.2%
EPS Q2Q%0%
EPS Next Y-49.5%
EPS Next 2Y-15.07%
EPS Next 3Y-9%
EPS Next 5Y-5.22%
Revenue 1Y (TTM)3.22%
Revenue growth 3Y19.01%
Revenue growth 5Y8.89%
Sales Q2Q%12.73%
Revenue Next Year13.69%
Revenue Next 2Y8.55%
Revenue Next 3Y6.99%
Revenue Next 5Y4.97%
EBIT growth 1Y1.82%
EBIT growth 3Y20.52%
EBIT growth 5Y6.17%
EBIT Next Year111.16%
EBIT Next 3Y31.27%
EBIT Next 5Y18.88%
FCF growth 1Y44.55%
FCF growth 3Y16.68%
FCF growth 5Y39.31%
OCF growth 1Y24.45%
OCF growth 3Y22.02%
OCF growth 5Y10.93%