NATIONAL STORAGE AFFILIATES (NSA) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:NSA - US6378701063 - REIT
31.38 USD
+1.12 (+3.7%)
31 USD
-0.38 (-1.21%)
We assign a fundamental rating of 3 out of 10 to NSA. NSA was compared to 30 industry peers in the Specialized REITs industry. While NSA is still in line with the averages on profitability rating, there are concerns on its financial health. NSA has a expensive valuation and it also scores bad on growth. Finally NSA also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
In the past year NSA was profitable.
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
With a Return On Assets value of 0.92%, NSA is not doing good in the industry: 63.33% of the companies in the same industry are doing better.
NSA has a Return On Equity (4.84%) which is in line with its industry peers.
Looking at the Return On Invested Capital, with a value of 4.42%, NSA is in line with its industry, outperforming 53.33% 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 4.86%.
The last Return On Invested Capital (4.42%) for NSA is above the 3 year average (4.30%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.92% | ||
| ROE | 4.84% | ||
| ROIC | 4.42% |
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
NSA has a Profit Margin (6.23%) which is in line with its industry peers.
NSA's Profit Margin has declined in the last couple of years.
NSA's Operating Margin of 37.10% is in line compared to the rest of the industry. NSA outperforms 60.00% of its industry peers.
NSA's Operating Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 37.1% | ||
| 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
NSA 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, NSA has less shares outstanding
NSA has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, NSA has a worse debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 0.47, we must say that NSA is in the distress zone and has some risk of bankruptcy.
With a Altman-Z score value of 0.47, NSA is not doing good in the industry: 73.33% of the companies in the same industry are doing better.
NSA has a debt to FCF ratio of 13.50. This is a negative value and a sign of low solvency as NSA would need 13.50 years to pay back of all of its debts.
With a Debt to FCF ratio value of 13.50, NSA perfoms like the industry average, outperforming 56.67% of the companies in the same industry.
NSA has a Debt/Equity ratio of 3.50. This is a high value indicating a heavy dependency on external financing.
NSA has a Debt to Equity ratio of 3.50. This is in the lower half of the industry: NSA underperforms 70.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 3.5 | ||
| Debt/FCF | 13.5 | ||
| Altman-Z | 0.47 |
ROIC/WACC0.63
WACC7.05%
2.3 Liquidity
A Current Ratio of 0.40 indicates that NSA may have some problems paying its short term obligations.
With a Current ratio value of 0.40, NSA is not doing good in the industry: 70.00% of the companies in the same industry are doing better.
NSA has a Quick Ratio of 0.40. 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 Quick ratio of 0.40 is on the low side compared to the rest of the industry. NSA is outperformed by 70.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.4 | ||
| Quick Ratio | 0.4 |
3. Growth
3.1 Past
NSA shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -64.33%.
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 -4.98% in the past year.
Measured over the past years, NSA shows a quite strong growth in Revenue. The Revenue has been growing by 14.71% on average per year.
EPS 1Y (TTM)-64.33%
EPS 3Y6.27%
EPS 5YN/A
EPS Q2Q%-5.56%
Revenue 1Y (TTM)-4.98%
Revenue growth 3Y9.57%
Revenue growth 5Y14.71%
Sales Q2Q%-2.54%
3.2 Future
NSA is expected to show a very negative growth in Earnings Per Share. In the coming years, the EPS will decrease by -13.13% yearly.
The Revenue is expected to grow by 3.10% on average over the next years.
EPS Next Y-44.01%
EPS Next 2Y-24.58%
EPS Next 3Y-13.13%
EPS Next 5YN/A
Revenue Next Year-2.73%
Revenue Next 2Y-0.83%
Revenue Next 3Y0.78%
Revenue Next 5Y3.1%
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
NSA is valuated quite expensively with a Price/Earnings ratio of 51.44.
NSA's Price/Earnings ratio is a bit more expensive when compared to the industry. NSA is more expensive than 60.00% of the companies in the same industry.
NSA is valuated expensively when we compare the Price/Earnings ratio to 27.19, which is the current average of the S&P500 Index.
The Price/Forward Earnings ratio is 48.39, which means the current valuation is very expensive for NSA.
The rest of the industry has a similar Price/Forward Earnings ratio as NSA.
Compared to an average S&P500 Price/Forward Earnings ratio of 23.88, NSA is valued quite expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 51.44 | ||
| Fwd PE | 48.39 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, NSA is valued cheaper than 96.67% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of NSA indicates a rather cheap valuation: NSA is cheaper than 100.00% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 9.58 | ||
| EV/EBITDA | 12.11 |
4.3 Compensation for Growth
NSA's earnings are expected to decrease with -13.13% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-24.58%
EPS Next 3Y-13.13%
5. Dividend
5.1 Amount
NSA has a Yearly Dividend Yield of 7.53%, which is a nice return.
Compared to an average industry Dividend Yield of 5.69, NSA pays a better dividend. On top of this NSA pays more dividend than 96.67% of the companies listed in the same industry.
NSA's Dividend Yield is rather good when compared to the S&P500 average which is at 1.94.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.53% |
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.
As NSA did not decrease their dividend in the past 5 years, we can say the dividend looks stable.
Dividend Growth(5Y)10.15%
Div Incr Years9
Div Non Decr Years9
5.3 Sustainability
413.84% of the earnings are spent on dividend by NSA. This is not a sustainable payout ratio.
NSA's earnings are declining while the Dividend Rate has been growing. This means the dividend growth is most likely not sustainable.
DP413.84%
EPS Next 2Y-24.58%
EPS Next 3Y-13.13%
31.38
+1.12 (+3.7%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)
Earnings (Next)
Inst Owners100.26%
Inst Owner Change0%
Ins Owners8%
Ins Owner Change0%
Market Cap2.42B
Revenue(TTM)756.02M
Net Income(TTM)47.11M
Analysts52.73
Price Target33.69 (7.36%)
Short Float %10.34%
Short Ratio6.11
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.53% |
Yearly Dividend2.42
Dividend Growth(5Y)10.15%
DP413.84%
Div Incr Years9
Div Non Decr Years9
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-6.67%
Min EPS beat(2)-8.98%
Max EPS beat(2)-4.37%
EPS beat(4)0
Avg EPS beat(4)-17.89%
Min EPS beat(4)-43.42%
Max EPS beat(4)-4.37%
EPS beat(8)3
Avg EPS beat(8)26.9%
EPS beat(12)4
Avg EPS beat(12)17.2%
EPS beat(16)4
Avg EPS beat(16)4.38%
Revenue beat(2)2
Avg Revenue beat(2)2.87%
Min Revenue beat(2)2.22%
Max Revenue beat(2)3.53%
Revenue beat(4)3
Avg Revenue beat(4)-0.3%
Min Revenue beat(4)-8.32%
Max Revenue beat(4)3.53%
Revenue beat(8)7
Avg Revenue beat(8)0.79%
Revenue beat(12)11
Avg Revenue beat(12)1.36%
Revenue beat(16)15
Avg Revenue beat(16)2.19%
PT rev (1m)-1.98%
PT rev (3m)-3.88%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-7.14%
EPS NY rev (1m)0%
EPS NY rev (3m)-13.9%
Revenue NQ rev (1m)1%
Revenue NQ rev (3m)1.06%
Revenue NY rev (1m)-0.01%
Revenue NY rev (3m)0.54%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 51.44 | ||
| Fwd PE | 48.39 | ||
| P/S | 3.19 | ||
| P/FCF | 9.58 | ||
| P/OCF | 6.98 | ||
| P/B | 2.48 | ||
| P/tB | 2.93 | ||
| EV/EBITDA | 12.11 |
EPS(TTM)0.61
EY1.94%
EPS(NY)0.65
Fwd EY2.07%
FCF(TTM)3.28
FCFY10.44%
OCF(TTM)4.49
OCFY14.32%
SpS9.82
BVpS12.64
TBVpS10.71
PEG (NY)N/A
PEG (5Y)N/A
Graham Number13.17
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.92% | ||
| ROE | 4.84% | ||
| ROCE | 5.6% | ||
| ROIC | 4.42% | ||
| ROICexc | 4.45% | ||
| ROICexgc | 4.59% | ||
| OM | 37.1% | ||
| PM (TTM) | 6.23% | ||
| GM | N/A | ||
| FCFM | 33.36% |
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%
ROICexgc growth 3Y13.51%
ROICexgc 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 | 3.5 | ||
| Debt/FCF | 13.5 | ||
| Debt/EBITDA | 7.22 | ||
| Cap/Depr | 49.09% | ||
| Cap/Sales | 12.39% | ||
| Interest Coverage | 1.8 | ||
| Cash Conversion | 73.39% | ||
| Profit Quality | 535.32% | ||
| Current Ratio | 0.4 | ||
| Quick Ratio | 0.4 | ||
| Altman-Z | 0.47 |
F-Score3
WACC7.05%
ROIC/WACC0.63
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)-64.33%
EPS 3Y6.27%
EPS 5YN/A
EPS Q2Q%-5.56%
EPS Next Y-44.01%
EPS Next 2Y-24.58%
EPS Next 3Y-13.13%
EPS Next 5YN/A
Revenue 1Y (TTM)-4.98%
Revenue growth 3Y9.57%
Revenue growth 5Y14.71%
Sales Q2Q%-2.54%
Revenue Next Year-2.73%
Revenue Next 2Y-0.83%
Revenue Next 3Y0.78%
Revenue Next 5Y3.1%
EBIT growth 1Y-9.67%
EBIT growth 3Y10.84%
EBIT growth 5Y18.56%
EBIT Next Year43.56%
EBIT Next 3Y14.24%
EBIT Next 5Y11.81%
FCF growth 1Y-31.1%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-21.67%
OCF growth 3Y3.09%
OCF growth 5Y13.05%
NATIONAL STORAGE AFFILIATES / NSA FAQ
What is the fundamental rating for NSA stock?
ChartMill assigns a fundamental rating of 3 / 10 to NSA.
What is the valuation status for NSA stock?
ChartMill assigns a valuation rating of 3 / 10 to NATIONAL STORAGE AFFILIATES (NSA). This can be considered as Overvalued.
What is the profitability of NSA stock?
NATIONAL STORAGE AFFILIATES (NSA) has a profitability rating of 4 / 10.
What are the PE and PB ratios of NATIONAL STORAGE AFFILIATES (NSA) stock?
The Price/Earnings (PE) ratio for NATIONAL STORAGE AFFILIATES (NSA) is 51.44 and the Price/Book (PB) ratio is 2.48.
Is the dividend of NATIONAL STORAGE AFFILIATES sustainable?
The dividend rating of NATIONAL STORAGE AFFILIATES (NSA) is 7 / 10 and the dividend payout ratio is 413.84%.