KIMCO REALTY CORP (KIM) Stock Fundamental Analysis
USA - NYSE:KIM - US49446R1095 - REIT
21.84 USD
+0.23 (+1.06%)
21.84 USD
0 (0%)
We assign a fundamental rating of 5 out of 10 to KIM. KIM was compared to 127 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 has a correct valuation and a medium growth rate.
1. Profitability
1.1 Basic Checks
KIM had positive earnings in the past year.
In the past year KIM had a positive cash flow from operations.
Each year in the past 5 years KIM has been profitable.
KIM had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
KIM has a better Return On Assets (2.82%) than 72.09% of its industry peers.
KIM has a better Return On Equity (5.31%) than 67.44% of its industry peers.
KIM's Return On Invested Capital of 2.82% is in line compared to the rest of the industry. KIM outperforms 55.04% 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 3.04%.
The last Return On Invested Capital (2.82%) for KIM is above the 3 year average (2.59%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.82% | ||
| ROE | 5.31% | ||
| ROIC | 2.82% |
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 an excellent Profit Margin value of 26.69%, KIM belongs to the best of the industry, outperforming 81.40% of the companies in the same industry.
KIM's Profit Margin has declined in the last couple of years.
KIM has a Operating Margin of 33.04%. This is in the better half of the industry: KIM outperforms 68.99% of its industry peers.
In the last couple of years the Operating Margin of KIM has declined.
KIM has a Gross Margin of 68.89%. This is comparable to the rest of the industry: KIM outperforms 56.59% of its industry peers.
KIM's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 33.04% | ||
| PM (TTM) | 26.69% | ||
| GM | 68.89% |
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.
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
Based on the Altman-Z score of 1.16, we must say that KIM is in the distress zone and has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 1.16, KIM belongs to the top of the industry, outperforming 80.62% of the companies in the same industry.
KIM has a debt to FCF ratio of 17.31. This is a negative value and a sign of low solvency as KIM would need 17.31 years to pay back of all of its debts.
With an excellent Debt to FCF ratio value of 17.31, KIM belongs to the best of the industry, outperforming 80.62% of the companies in the same industry.
KIM has a Debt/Equity ratio of 0.78. This is a neutral value indicating KIM is somewhat dependend on debt financing.
KIM's Debt to Equity ratio of 0.78 is fine compared to the rest of the industry. KIM outperforms 72.09% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.78 | ||
| Debt/FCF | 17.31 | ||
| Altman-Z | 1.16 |
ROIC/WACC0.42
WACC6.65%
2.3 Liquidity
A Current Ratio of 1.47 indicates that KIM should not have too much problems paying its short term obligations.
Looking at the Current ratio, with a value of 1.47, KIM is in the better half of the industry, outperforming 63.57% of the companies in the same industry.
A Quick Ratio of 1.47 indicates that KIM should not have too much problems paying its short term obligations.
Looking at the Quick ratio, with a value of 1.47, KIM is in the better half of the industry, outperforming 64.34% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.47 | ||
| Quick Ratio | 1.47 |
3. Growth
3.1 Past
KIM shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 50.91%, which is quite impressive.
KIM shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -6.89% yearly.
The Revenue has grown by 10.16% in the past year. This is quite good.
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)50.91%
EPS 3Y-29.53%
EPS 5Y-6.89%
EPS Q2Q%35.29%
Revenue 1Y (TTM)10.16%
Revenue growth 3Y14.29%
Revenue growth 5Y11.94%
Sales Q2Q%4.98%
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.
Based on estimates for the next years, KIM will show a small growth in Revenue. The Revenue will grow by 3.87% on average per year.
EPS Next Y33.46%
EPS Next 2Y16.38%
EPS Next 3Y13.16%
EPS Next 5Y7.34%
Revenue Next Year4.92%
Revenue Next 2Y4.1%
Revenue Next 3Y2.96%
Revenue Next 5Y3.87%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
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
A Price/Earnings ratio of 26.31 indicates a quite expensive valuation of KIM.
Based on the Price/Earnings ratio, KIM is valued a bit cheaper than the industry average as 69.77% of the companies are valued more expensively.
KIM is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 27.42, which is the current average of the S&P500 Index.
The Price/Forward Earnings ratio is 28.79, which means the current valuation is very expensive for KIM.
79.07% of the companies in the same industry are more expensive than KIM, based on the Price/Forward Earnings ratio.
The average S&P500 Price/Forward Earnings ratio is at 22.94. KIM is valued slightly more expensive when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 26.31 | ||
| Fwd PE | 28.79 |
4.2 Price Multiples
73.64% of the companies in the same industry are cheaper than KIM, based on the Enterprise Value to EBITDA ratio.
Based on the Price/Free Cash Flow ratio, KIM is valued a bit cheaper than 71.32% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 31.37 | ||
| EV/EBITDA | 17.38 |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of KIM may justify a higher PE ratio.
KIM's earnings are expected to grow with 13.16% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.79
PEG (5Y)N/A
EPS Next 2Y16.38%
EPS Next 3Y13.16%
5. Dividend
5.1 Amount
KIM has a Yearly Dividend Yield of 4.63%, which is a nice return.
Compared to an average industry Dividend Yield of 6.23, KIM has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.36, KIM pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.63% |
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
125.58% of the earnings are spent on dividend by KIM. This is not a sustainable payout ratio.
DP125.58%
EPS Next 2Y16.38%
EPS Next 3Y13.16%
21.84
+0.23 (+1.06%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners98.72%
Inst Owner Change0.02%
Ins Owners2.18%
Ins Owner Change0.5%
Market Cap14.79B
Analysts72.86
Price Target25 (14.47%)
Short Float %2.86%
Short Ratio4.85
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.63% |
Yearly Dividend1.06
Dividend Growth(5Y)-3.26%
DP125.58%
Div Incr Years0
Div Non Decr Years0
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)18.53%
Min EPS beat(2)3.1%
Max EPS beat(2)33.95%
EPS beat(4)4
Avg EPS beat(4)18.76%
Min EPS beat(4)3.1%
Max EPS beat(4)33.95%
EPS beat(8)7
Avg EPS beat(8)2.88%
EPS beat(12)8
Avg EPS beat(12)-5.47%
EPS beat(16)10
Avg EPS beat(16)38%
Revenue beat(2)1
Avg Revenue beat(2)0.18%
Min Revenue beat(2)-1.37%
Max Revenue beat(2)1.74%
Revenue beat(4)3
Avg Revenue beat(4)0.51%
Min Revenue beat(4)-1.37%
Max Revenue beat(4)1.74%
Revenue beat(8)5
Avg Revenue beat(8)0.67%
Revenue beat(12)8
Avg Revenue beat(12)0.84%
Revenue beat(16)12
Avg Revenue beat(16)2.36%
PT rev (1m)0%
PT rev (3m)1.08%
EPS NQ rev (1m)0.24%
EPS NQ rev (3m)4.51%
EPS NY rev (1m)2.64%
EPS NY rev (3m)7.94%
Revenue NQ rev (1m)-0.29%
Revenue NQ rev (3m)-0.74%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.33%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 26.31 | ||
| Fwd PE | 28.79 | ||
| P/S | 7.06 | ||
| P/FCF | 31.37 | ||
| P/OCF | 13.89 | ||
| P/B | 1.41 | ||
| P/tB | 1.41 | ||
| EV/EBITDA | 17.38 |
EPS(TTM)0.83
EY3.8%
EPS(NY)0.76
Fwd EY3.47%
FCF(TTM)0.7
FCFY3.19%
OCF(TTM)1.57
OCFY7.2%
SpS3.09
BVpS15.54
TBVpS15.54
PEG (NY)0.79
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.82% | ||
| ROE | 5.31% | ||
| ROCE | 3.57% | ||
| ROIC | 2.82% | ||
| ROICexc | 2.85% | ||
| ROICexgc | 2.9% | ||
| OM | 33.04% | ||
| PM (TTM) | 26.69% | ||
| GM | 68.89% | ||
| FCFM | 22.5% |
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-Score7
Asset Turnover0.11
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.78 | ||
| Debt/FCF | 17.31 | ||
| Debt/EBITDA | 6.24 | ||
| Cap/Depr | 96.37% | ||
| Cap/Sales | 28.32% | ||
| Interest Coverage | 2.18 | ||
| Cash Conversion | 81.42% | ||
| Profit Quality | 84.31% | ||
| Current Ratio | 1.47 | ||
| Quick Ratio | 1.47 | ||
| Altman-Z | 1.16 |
F-Score7
WACC6.65%
ROIC/WACC0.42
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)50.91%
EPS 3Y-29.53%
EPS 5Y-6.89%
EPS Q2Q%35.29%
EPS Next Y33.46%
EPS Next 2Y16.38%
EPS Next 3Y13.16%
EPS Next 5Y7.34%
Revenue 1Y (TTM)10.16%
Revenue growth 3Y14.29%
Revenue growth 5Y11.94%
Sales Q2Q%4.98%
Revenue Next Year4.92%
Revenue Next 2Y4.1%
Revenue Next 3Y2.96%
Revenue Next 5Y3.87%
EBIT growth 1Y12.77%
EBIT growth 3Y13.71%
EBIT growth 5Y8.02%
EBIT Next Year109.26%
EBIT Next 3Y29.14%
EBIT Next 5Y21.25%
FCF growth 1Y10.68%
FCF growth 3YN/A
FCF growth 5Y30.79%
OCF growth 1Y4.48%
OCF growth 3Y17.56%
OCF growth 5Y11.5%