NATIONAL STORAGE AFFILIATES (NSA) Stock Fundamental Analysis
USA - NYSE:NSA - US6378701063 - REIT
30.7 USD
-0.1 (-0.32%)
30.7 USD
0 (0%)
Taking everything into account, NSA scores 3 out of 10 in our fundamental rating. NSA was compared to 29 industry peers in the Specialized REITs industry. There are concerns on the financial health of NSA while its profitability can be described as average. NSA does not seem to be growing, but still is valued expensively.
1. Profitability
1.1 Basic Checks
NSA had positive earnings in the past year.
In the past year NSA had a positive cash flow from operations.
NSA had positive earnings in each of the past 5 years.
In the past 5 years NSA always reported a positive cash flow from operatings.
1.2 Ratios
Looking at the Return On Assets, with a value of 0.91%, NSA is doing worse than 65.52% of the companies in the same industry.
Looking at the Return On Equity, with a value of 4.73%, NSA is in line with its industry, outperforming 48.28% of the companies in the same industry.
With a Return On Invested Capital value of 4.46%, NSA perfoms like the industry average, outperforming 55.17% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for NSA is in line with the industry average of 4.79%.
The 3 year average ROIC (4.30%) for NSA is below the current ROIC(4.46%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.91% | ||
| ROE | 4.73% | ||
| ROIC | 4.46% |
ROA(3y)1.84%
ROA(5y)1.63%
ROE(3y)7.87%
ROE(5y)6.49%
ROIC(3y)4.3%
ROIC(5y)3.88%
1.3 Margins
With a Profit Margin value of 6.23%, NSA perfoms like the industry average, outperforming 44.83% of the companies in the same industry.
In the last couple of years the Profit Margin of NSA has declined.
NSA has a Operating Margin of 37.59%. This is comparable to the rest of the industry: NSA outperforms 58.62% of its industry peers.
NSA's Operating Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 37.59% | ||
| PM (TTM) | 6.23% | ||
| GM | N/A |
OM growth 3Y1.16%
OM growth 5Y3.36%
PM growth 3Y-9.08%
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), NSA is destroying value.
The number of shares outstanding for NSA has been reduced compared to 1 year ago.
Compared to 5 years ago, NSA has more shares outstanding
Compared to 1 year ago, NSA has a worse debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 0.49, we must say that NSA is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of NSA (0.49) is worse than 79.31% of its industry peers.
The Debt to FCF ratio of NSA is 14.66, which is on the high side as it means it would take NSA, 14.66 years of fcf income to pay off all of its debts.
NSA has a Debt to FCF ratio (14.66) which is in line with its industry peers.
A Debt/Equity ratio of 3.40 is on the high side and indicates that NSA has dependencies on debt financing.
NSA has a worse Debt to Equity ratio (3.40) than 72.41% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 3.4 | ||
| Debt/FCF | 14.66 | ||
| Altman-Z | 0.49 |
ROIC/WACC0.65
WACC6.9%
2.3 Liquidity
NSA has a Current Ratio of 0.47. This is a bad value and indicates that NSA is not financially healthy enough and could expect problems in meeting its short term obligations.
NSA's Current ratio of 0.47 is on the low side compared to the rest of the industry. NSA is outperformed by 68.97% of its industry peers.
NSA has a Quick Ratio of 0.47. This is a bad value and indicates that NSA is not financially healthy enough and could expect problems in meeting its short term obligations.
The Quick ratio of NSA (0.47) is worse than 68.97% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.47 | ||
| Quick Ratio | 0.47 |
3. Growth
3.1 Past
The earnings per share for NSA have decreased strongly by -65.36% in the last year.
Measured over the past 5 years, NSA shows a small growth in Earnings Per Share. The EPS has been growing by 6.27% on average per year.
The Revenue has decreased by -7.33% in the past year.
NSA shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 14.71% yearly.
EPS 1Y (TTM)-65.36%
EPS 3Y6.27%
EPS 5YN/A
EPS Q2Q%18.75%
Revenue 1Y (TTM)-7.33%
Revenue growth 3Y9.57%
Revenue growth 5Y14.71%
Sales Q2Q%-0.84%
3.2 Future
NSA is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 3.13% yearly.
NSA is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.10% yearly.
EPS Next Y-8.01%
EPS Next 2Y-1.96%
EPS Next 3Y3.13%
EPS Next 5YN/A
Revenue Next Year-3.17%
Revenue Next 2Y-0.35%
Revenue Next 3Y1.45%
Revenue Next 5Y3.1%
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 decreasing.
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
The Price/Earnings ratio is 49.52, which means the current valuation is very expensive for NSA.
The rest of the industry has a similar Price/Earnings ratio as NSA.
NSA is valuated expensively when we compare the Price/Earnings ratio to 27.20, which is the current average of the S&P500 Index.
With a Price/Forward Earnings ratio of 28.01, NSA can be considered very expensive at the moment.
NSA's Price/Forward Earnings ratio is in line with the industry average.
When comparing the Price/Forward Earnings ratio of NSA to the average of the S&P500 Index (22.70), we can say NSA is valued slightly more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 49.52 | ||
| Fwd PE | 28.01 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, NSA is valued cheaply inside the industry as 96.55% of the companies are valued more expensively.
100.00% of the companies in the same industry are more expensive than NSA, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 10.16 | ||
| EV/EBITDA | 12.01 |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-1.96%
EPS Next 3Y3.13%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 6.32%, NSA is a good candidate for dividend investing.
NSA's Dividend Yield is a higher than the industry average which is at 5.99.
Compared to an average S&P500 Dividend Yield of 2.38, NSA pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.32% |
5.2 History
The dividend of NSA is nicely growing with an annual growth rate of 10.15%!
NSA has been paying a dividend for at least 10 years, so it has a reliable track record.
NSA has not decreased its dividend in the past 5 years, so it has a somewhat stable track record.
Dividend Growth(5Y)10.15%
Div Incr Years9
Div Non Decr Years9
5.3 Sustainability
NSA pays out 408.83% of its income as dividend. This is not a sustainable payout ratio.
NSA's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP408.83%
EPS Next 2Y-1.96%
EPS Next 3Y3.13%
30.7
-0.1 (-0.32%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)
Earnings (Next)
Inst Owners94.88%
Inst Owner Change-1.45%
Ins Owners8.05%
Ins Owner Change0%
Market Cap2.36B
Analysts51.82
Price Target35.53 (15.73%)
Short Float %7.23%
Short Ratio4.64
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.32% |
Yearly Dividend2.42
Dividend Growth(5Y)10.15%
DP408.83%
Div Incr Years9
Div Non Decr Years9
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-26.2%
Min EPS beat(2)-43.42%
Max EPS beat(2)-8.98%
EPS beat(4)1
Avg EPS beat(4)-13.95%
Min EPS beat(4)-43.42%
Max EPS beat(4)11.39%
EPS beat(8)4
Avg EPS beat(8)28.58%
EPS beat(12)4
Avg EPS beat(12)14.56%
EPS beat(16)4
Avg EPS beat(16)2.75%
Revenue beat(2)1
Avg Revenue beat(2)-2.4%
Min Revenue beat(2)-8.32%
Max Revenue beat(2)3.53%
Revenue beat(4)3
Avg Revenue beat(4)-0.23%
Min Revenue beat(4)-8.32%
Max Revenue beat(4)3.53%
Revenue beat(8)7
Avg Revenue beat(8)0.92%
Revenue beat(12)11
Avg Revenue beat(12)1.61%
Revenue beat(16)15
Avg Revenue beat(16)2.08%
PT rev (1m)-6.11%
PT rev (3m)-8.33%
EPS NQ rev (1m)-12%
EPS NQ rev (3m)-12%
EPS NY rev (1m)31.99%
EPS NY rev (3m)38.44%
Revenue NQ rev (1m)-0.31%
Revenue NQ rev (3m)-2.85%
Revenue NY rev (1m)-0.69%
Revenue NY rev (3m)-2.52%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 49.52 | ||
| Fwd PE | 28.01 | ||
| P/S | 3.1 | ||
| P/FCF | 10.16 | ||
| P/OCF | 6.71 | ||
| P/B | 2.35 | ||
| P/tB | 2.77 | ||
| EV/EBITDA | 12.01 |
EPS(TTM)0.62
EY2.02%
EPS(NY)1.1
Fwd EY3.57%
FCF(TTM)3.02
FCFY9.85%
OCF(TTM)4.58
OCFY14.91%
SpS9.91
BVpS13.05
TBVpS11.09
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.91% | ||
| ROE | 4.73% | ||
| ROCE | 5.65% | ||
| ROIC | 4.46% | ||
| ROICexc | 4.48% | ||
| ROICexgc | 4.63% | ||
| OM | 37.59% | ||
| PM (TTM) | 6.23% | ||
| GM | N/A | ||
| FCFM | 30.49% |
ROA(3y)1.84%
ROA(5y)1.63%
ROE(3y)7.87%
ROE(5y)6.49%
ROIC(3y)4.3%
ROIC(5y)3.88%
ROICexc(3y)4.34%
ROICexc(5y)3.91%
ROICexgc(3y)4.44%
ROICexgc(5y)3.99%
ROCE(3y)5.44%
ROCE(5y)4.91%
ROICexcg growth 3Y13.51%
ROICexcg growth 5Y6.59%
ROICexc growth 3Y12.74%
ROICexc growth 5Y6.15%
OM growth 3Y1.16%
OM growth 5Y3.36%
PM growth 3Y-9.08%
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score3
Asset Turnover0.15
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 3.4 | ||
| Debt/FCF | 14.66 | ||
| Debt/EBITDA | 7.12 | ||
| Cap/Depr | 62.29% | ||
| Cap/Sales | 15.68% | ||
| Interest Coverage | 1.92 | ||
| Cash Conversion | 73.57% | ||
| Profit Quality | 489.63% | ||
| Current Ratio | 0.47 | ||
| Quick Ratio | 0.47 | ||
| Altman-Z | 0.49 |
F-Score3
WACC6.9%
ROIC/WACC0.65
Cap/Depr(3y)113.11%
Cap/Depr(5y)407.79%
Cap/Sales(3y)31.49%
Cap/Sales(5y)110.85%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-65.36%
EPS 3Y6.27%
EPS 5YN/A
EPS Q2Q%18.75%
EPS Next Y-8.01%
EPS Next 2Y-1.96%
EPS Next 3Y3.13%
EPS Next 5YN/A
Revenue 1Y (TTM)-7.33%
Revenue growth 3Y9.57%
Revenue growth 5Y14.71%
Sales Q2Q%-0.84%
Revenue Next Year-3.17%
Revenue Next 2Y-0.35%
Revenue Next 3Y1.45%
Revenue Next 5Y3.1%
EBIT growth 1Y-10.47%
EBIT growth 3Y10.84%
EBIT growth 5Y18.56%
EBIT Next Year47.51%
EBIT Next 3Y17.12%
EBIT Next 5Y11.93%
FCF growth 1Y329.4%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-19.23%
OCF growth 3Y3.09%
OCF growth 5Y13.05%