KIMCO REALTY CORP (KIM) Stock Fundamental Analysis
NYSE:KIM - New York Stock Exchange, Inc. - US49446R1095 - REIT - Currency: USD
Taking everything into account, KIM scores 5 out of 10 in our fundamental rating. 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.
KIM had a positive operating cash flow in the past year.
Each year in the past 5 years KIM has been profitable.
Each year in the past 5 years KIM had a positive operating cash flow.
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 has a better Return On Equity (4.87%) than 68.46% of its industry peers.
KIM's Return On Invested Capital of 2.77% is in line compared to the rest of the industry. KIM outperforms 50.77% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital 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.
In the last couple of years the Profit Margin of KIM has declined.
The Operating Margin of KIM (32.77%) is better than 70.77% of its industry peers.
In the last couple of years the Operating Margin of KIM has declined.
KIM has a Gross Margin (68.70%) which is in line with its industry peers.
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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so KIM is destroying value.
Compared to 1 year ago, KIM has more shares outstanding
KIM has more shares outstanding than it did 5 years ago.
The debt/assets ratio for KIM has remained at the same level compared to a year ago.
2.2 Solvency
KIM has an Altman-Z score of 1.14. This is a bad value and indicates that KIM is not financially healthy and even has some risk of bankruptcy.
KIM has a Altman-Z score of 1.14. This is amongst the best in the industry. KIM outperforms 80.77% of its industry peers.
The Debt to FCF ratio of KIM is 17.38, which is on the high side as it means it would take KIM, 17.38 years of fcf income to pay off all of its debts.
KIM has a Debt to FCF ratio of 17.38. This is amongst the best in the industry. KIM outperforms 81.54% of its industry peers.
A Debt/Equity ratio of 0.76 indicates that KIM is somewhat dependend on debt financing.
KIM has a Debt to Equity ratio of 0.76. This is in the better half of the industry: KIM outperforms 72.31% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.76 | ||
| Debt/FCF | 17.38 | ||
| Altman-Z | 1.14 |
ROIC/WACC0.34
WACC8.08%
2.3 Liquidity
KIM has a Current Ratio of 1.24. This is a normal value and indicates that KIM is financially healthy and should not expect problems in meeting its short term obligations.
The Current ratio of KIM (1.24) is better than 61.54% of its industry peers.
KIM has a Quick Ratio of 1.24. This is a normal value and indicates that KIM is financially healthy and should not expect problems in meeting its short term obligations.
KIM has a Quick ratio of 1.24. This is in the better half of the industry: KIM outperforms 62.31% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.24 | ||
| Quick Ratio | 1.24 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 42.59% over the past year.
The Earnings Per Share has been decreasing by -6.89% on average over the past years.
The Revenue has grown by 12.23% in the past year. This is quite good.
The Revenue has been growing by 11.94% on average over the past years. This is quite good.
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
The Earnings Per Share is expected to grow by 7.34% on average over the next years.
KIM is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.96% yearly.
EPS Next Y22.19%
EPS Next 2Y13.46%
EPS Next 3Y12.53%
EPS Next 5Y7.34%
Revenue Next Year5.22%
Revenue Next 2Y4.15%
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.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 28.08, the valuation of KIM can be described as expensive.
68.46% of the companies in the same industry are more expensive than KIM, based on the Price/Earnings ratio.
KIM's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 27.45.
KIM is valuated quite expensively with a Price/Forward Earnings ratio of 29.99.
KIM's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. KIM is cheaper than 76.92% of the companies in the same industry.
KIM is valuated rather expensively when we compare the Price/Forward Earnings ratio to 21.90, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 28.08 | ||
| Fwd PE | 29.99 |
4.2 Price Multiples
KIM's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. KIM is more expensive than 77.69% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of KIM indicates a somewhat cheap valuation: KIM is cheaper than 70.77% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 31.68 | ||
| EV/EBITDA | 17.42 |
4.3 Compensation for Growth
The 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.
KIM's earnings are expected to grow with 12.53% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.27
PEG (5Y)N/A
EPS Next 2Y13.46%
EPS Next 3Y12.53%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 4.76%, KIM is a good candidate for dividend investing.
KIM's Dividend Yield is comparable with the industry average which is at 6.64.
Compared to an average S&P500 Dividend Yield of 2.42, KIM pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.76% |
5.2 History
The dividend of KIM decreases each year by -3.26%.
KIM has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)-3.26%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
134.86% of the earnings are spent on dividend by KIM. This is not a sustainable payout ratio.
DP134.86%
EPS Next 2Y13.46%
EPS Next 3Y12.53%
21.62
+0.18 (+0.84%)
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 Change4.42%
Ins Owners2.18%
Ins Owner Change1.48%
Market Cap14.63B
Analysts71.85
Price Target24.52 (13.41%)
Short Float %2.65%
Short Ratio3.76
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.76% |
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)-0.46%
PT rev (3m)-3.94%
EPS NQ rev (1m)-2.52%
EPS NQ rev (3m)-2.52%
EPS NY rev (1m)-2.8%
EPS NY rev (3m)0.26%
Revenue NQ rev (1m)-0.37%
Revenue NQ rev (3m)-0.22%
Revenue NY rev (1m)0.14%
Revenue NY rev (3m)0.38%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 28.08 | ||
| Fwd PE | 29.99 | ||
| P/S | 7.07 | ||
| P/FCF | 31.68 | ||
| P/OCF | 13.89 | ||
| P/B | 1.38 | ||
| P/tB | 1.38 | ||
| EV/EBITDA | 17.42 |
EPS(TTM)0.77
EY3.56%
EPS(NY)0.72
Fwd EY3.33%
FCF(TTM)0.68
FCFY3.16%
OCF(TTM)1.56
OCFY7.2%
SpS3.06
BVpS15.65
TBVpS15.65
PEG (NY)1.27
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 | 1.14 |
F-Score6
WACC8.08%
ROIC/WACC0.34
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 Y22.19%
EPS Next 2Y13.46%
EPS Next 3Y12.53%
EPS Next 5Y7.34%
Revenue 1Y (TTM)12.23%
Revenue growth 3Y14.29%
Revenue growth 5Y11.94%
Sales Q2Q%7.56%
Revenue Next Year5.22%
Revenue Next 2Y4.15%
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%