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 valied quite expensively at the moment, while it does show a decent growth rate.
1. Profitability
1.1 Basic Checks
KIM had positive earnings in the past year.
KIM had a positive operating cash flow in the past year.
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 better Return On Assets (1.83%) than 64.62% of its industry peers.
KIM's Return On Equity of 3.49% is fine compared to the rest of the industry. KIM outperforms 63.85% of its industry peers.
KIM has a Return On Invested Capital (2.61%) which is in line with its industry peers.
The Average Return On Invested Capital over the past 3 years for KIM is in line with the industry average of 3.17%.
The 3 year average ROIC (2.59%) for KIM is below the current ROIC(2.61%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.83% | ||
| ROE | 3.49% | ||
| ROIC | 2.61% |
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
KIM has a better Profit Margin (18.23%) than 72.31% of its industry peers.
KIM's Profit Margin has declined in the last couple of years.
KIM's Operating Margin of 32.28% is fine compared to the rest of the industry. KIM outperforms 70.00% 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 comparable to the rest of the 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 | 32.28% | ||
| PM (TTM) | 18.23% | ||
| GM | 68.7% |
OM growth 3Y-0.5%
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
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), KIM is destroying value.
KIM has more shares outstanding than it did 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 about the same debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 1.07, we must say that KIM is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of KIM (1.07) is better than 78.46% of its industry peers.
The Debt to FCF ratio of KIM is 16.06, which is on the high side as it means it would take KIM, 16.06 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of KIM (16.06) is better than 80.00% of its industry peers.
KIM has a Debt/Equity ratio of 0.79. This is a neutral value indicating KIM is somewhat dependend on debt financing.
KIM has a better Debt to Equity ratio (0.79) than 70.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.79 | ||
| Debt/FCF | 16.06 | ||
| Altman-Z | 1.07 |
ROIC/WACC0.39
WACC6.77%
2.3 Liquidity
KIM has a Current Ratio of 2.40. This indicates that KIM is financially healthy and has no problem in meeting its short term obligations.
Looking at the Current ratio, with a value of 2.40, KIM belongs to the top of the industry, outperforming 83.85% of the companies in the same industry.
KIM has a Quick Ratio of 2.40. This indicates that KIM is financially healthy and has no problem in meeting its short term obligations.
KIM's Quick ratio of 2.40 is amongst the best of the industry. KIM outperforms 83.85% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.4 | ||
| Quick Ratio | 2.4 |
3. Growth
3.1 Past
KIM shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -45.63%.
The Earnings Per Share has been decreasing by -6.89% on average over the past years.
KIM shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 14.22%.
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)-45.63%
EPS 3Y-29.53%
EPS 5Y-6.89%
EPS Q2Q%4.55%
Revenue 1Y (TTM)14.22%
Revenue growth 3Y14.29%
Revenue growth 5Y11.94%
Sales Q2Q%16.34%
3.2 Future
The Earnings Per Share is expected to grow by 8.14% on average over the next years. This is quite good.
KIM is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.96% yearly.
EPS Next Y22.44%
EPS Next 2Y14.22%
EPS Next 3Y13%
EPS Next 5Y8.14%
Revenue Next Year4.72%
Revenue Next 2Y3.98%
Revenue Next 3Y2.96%
Revenue Next 5Y3.96%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better 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
With a Price/Earnings ratio of 36.34, KIM can be considered very expensive at the moment.
KIM's Price/Earnings is on the same level as the industry average.
KIM is valuated rather expensively when we compare the Price/Earnings ratio to 28.79, which is the current average of the S&P500 Index.
KIM is valuated quite expensively with a Price/Forward Earnings ratio of 29.68.
76.92% of the companies in the same industry are more expensive than KIM, based on the Price/Forward Earnings ratio.
KIM is valuated rather expensively when we compare the Price/Forward Earnings ratio to 21.38, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 36.34 | ||
| Fwd PE | 29.68 |
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 74.62% 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 | 26.18 | ||
| EV/EBITDA | 17.14 |
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.
KIM's earnings are expected to grow with 13.00% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.62
PEG (5Y)N/A
EPS Next 2Y14.22%
EPS Next 3Y13%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 4.89%, KIM is a good candidate for dividend investing.
KIM's Dividend Yield is comparable with the industry average which is at 16.90.
KIM's Dividend Yield is rather good when compared to the S&P500 average which is at 2.47.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.89% |
5.2 History
The dividend of KIM decreases each year by -3.27%.
KIM has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)-3.27%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
184.75% of the earnings are spent on dividend by KIM. This is not a sustainable payout ratio.
DP184.75%
EPS Next 2Y14.22%
EPS Next 3Y13%
20.35
-0.08 (-0.39%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners93.75%
Inst Owner Change-50.88%
Ins Owners2.14%
Ins Owner Change0.68%
Market Cap13.83B
Analysts71.85
Price Target25.02 (22.95%)
Short Float %2.75%
Short Ratio3.2
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.89% |
Yearly Dividend1.06
Dividend Growth(5Y)-3.27%
DP184.75%
Div Incr Years0
Div Non Decr Years0
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)19%
Min EPS beat(2)11.48%
Max EPS beat(2)26.51%
EPS beat(4)3
Avg EPS beat(4)-17.86%
Min EPS beat(4)-116.88%
Max EPS beat(4)26.51%
EPS beat(8)6
Avg EPS beat(8)12.9%
EPS beat(12)7
Avg EPS beat(12)-16.19%
EPS beat(16)10
Avg EPS beat(16)56.13%
Revenue beat(2)2
Avg Revenue beat(2)0.83%
Min Revenue beat(2)0.06%
Max Revenue beat(2)1.6%
Revenue beat(4)3
Avg Revenue beat(4)0.96%
Min Revenue beat(4)-1.3%
Max Revenue beat(4)3.49%
Revenue beat(8)5
Avg Revenue beat(8)0.68%
Revenue beat(12)9
Avg Revenue beat(12)1.07%
Revenue beat(16)13
Avg Revenue beat(16)3.06%
PT rev (1m)-3.71%
PT rev (3m)-6.23%
EPS NQ rev (1m)0.22%
EPS NQ rev (3m)-8.22%
EPS NY rev (1m)0.47%
EPS NY rev (3m)-7.7%
Revenue NQ rev (1m)0.04%
Revenue NQ rev (3m)0.89%
Revenue NY rev (1m)-0.09%
Revenue NY rev (3m)1.04%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 36.34 | ||
| Fwd PE | 29.68 | ||
| P/S | 6.79 | ||
| P/FCF | 26.18 | ||
| P/OCF | 13.75 | ||
| P/B | 1.3 | ||
| P/tB | 1.3 | ||
| EV/EBITDA | 17.14 |
EPS(TTM)0.56
EY2.75%
EPS(NY)0.69
Fwd EY3.37%
FCF(TTM)0.78
FCFY3.82%
OCF(TTM)1.48
OCFY7.27%
SpS3
BVpS15.68
TBVpS15.68
PEG (NY)1.62
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.83% | ||
| ROE | 3.49% | ||
| ROCE | 3.31% | ||
| ROIC | 2.61% | ||
| ROICexc | 2.71% | ||
| ROICexgc | 2.79% | ||
| OM | 32.28% | ||
| PM (TTM) | 18.23% | ||
| GM | 68.7% | ||
| FCFM | 25.93% |
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-4.1%
ROICexc growth 3Y10.84%
ROICexc growth 5Y-4.28%
OM growth 3Y-0.5%
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-Score5
Asset Turnover0.1
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.79 | ||
| Debt/FCF | 16.06 | ||
| Debt/EBITDA | 6.71 | ||
| Cap/Depr | 79.08% | ||
| Cap/Sales | 23.44% | ||
| Interest Coverage | 2.18 | ||
| Cash Conversion | 79.73% | ||
| Profit Quality | 142.28% | ||
| Current Ratio | 2.4 | ||
| Quick Ratio | 2.4 | ||
| Altman-Z | 1.07 |
F-Score5
WACC6.77%
ROIC/WACC0.39
Cap/Depr(3y)94.6%
Cap/Depr(5y)114.14%
Cap/Sales(3y)27.48%
Cap/Sales(5y)32.82%
Profit Quality(3y)199.45%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-45.63%
EPS 3Y-29.53%
EPS 5Y-6.89%
EPS Q2Q%4.55%
EPS Next Y22.44%
EPS Next 2Y14.22%
EPS Next 3Y13%
EPS Next 5Y8.14%
Revenue 1Y (TTM)14.22%
Revenue growth 3Y14.29%
Revenue growth 5Y11.94%
Sales Q2Q%16.34%
Revenue Next Year4.72%
Revenue Next 2Y3.98%
Revenue Next 3Y2.96%
Revenue Next 5Y3.96%
EBIT growth 1Y12.86%
EBIT growth 3Y13.71%
EBIT growth 5Y8.02%
EBIT Next Year106.28%
EBIT Next 3Y29.14%
EBIT Next 5Y18.95%
FCF growth 1Y-0.32%
FCF growth 3YN/A
FCF growth 5Y30.79%
OCF growth 1Y-6.16%
OCF growth 3Y17.56%
OCF growth 5Y11.5%