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TANGER INC (SKT) Stock Fundamental Analysis

NYSE:SKT - New York Stock Exchange, Inc. - US8754651060 - REIT - Currency: USD

35.81  -0.12 (-0.33%)

After market: 35.81 0 (0%)

Fundamental Rating

3

Overall SKT gets a fundamental rating of 3 out of 10. We evaluated SKT against 129 industry peers in the Diversified REITs industry. While SKT belongs to the best of the industry regarding profitability, there are concerns on its financial health. SKT has a expensive valuation and it also scores bad on growth.


Dividend Valuation Growth Profitability Health

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7

1. Profitability

1.1 Basic Checks

SKT had positive earnings in the past year.
SKT had a positive operating cash flow in the past year.
In multiple years SKT reported negative net income over the last 5 years.
Of the past 5 years SKT 4 years had a positive operating cash flow.
SKT Yearly Net Income VS EBIT VS OCF VS FCFSKT Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 100M -100M 200M -200M

1.2 Ratios

SKT has a Return On Assets of 4.17%. This is amongst the best in the industry. SKT outperforms 89.68% of its industry peers.
SKT's Return On Equity of 16.69% is amongst the best of the industry. SKT outperforms 96.03% of its industry peers.
SKT's Return On Invested Capital of 5.44% is amongst the best of the industry. SKT outperforms 92.06% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for SKT is in line with the industry average of 3.11%.
The last Return On Invested Capital (5.44%) for SKT is above the 3 year average (4.64%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 4.17%
ROE 16.69%
ROIC 5.44%
ROA(3y)2.75%
ROA(5y)2.07%
ROE(3y)11.85%
ROE(5y)8.93%
ROIC(3y)4.64%
ROIC(5y)4.55%
SKT Yearly ROA, ROE, ROICSKT Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10 -10 20 30

1.3 Margins

SKT's Profit Margin of 18.50% is fine compared to the rest of the industry. SKT outperforms 77.78% of its industry peers.
SKT's Profit Margin has improved in the last couple of years.
SKT's Operating Margin of 28.24% is fine compared to the rest of the industry. SKT outperforms 60.32% of its industry peers.
SKT's Operating Margin has declined in the last couple of years.
SKT has a Gross Margin (69.74%) which is comparable to the rest of the industry.
In the last couple of years the Gross Margin of SKT has remained more or less at the same level.
Industry RankSector Rank
OM 28.24%
PM (TTM) 18.5%
GM 69.74%
OM growth 3Y8.72%
OM growth 5Y-1.95%
PM growth 3YN/A
PM growth 5Y19.74%
GM growth 3Y1.41%
GM growth 5Y0.01%
SKT Yearly Profit, Operating, Gross MarginsSKT Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20 40 60

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1

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so SKT is destroying value.
SKT has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
SKT Yearly Shares OutstandingSKT Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M 80M 100M
SKT Yearly Total Debt VS Total AssetsSKT Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B 2B 2.5B

2.2 Solvency

Based on the Altman-Z score of 1.49, we must say that SKT is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of SKT (1.49) is better than 90.48% of its industry peers.
A Debt/Equity ratio of 2.51 is on the high side and indicates that SKT has dependencies on debt financing.
SKT has a Debt to Equity ratio of 2.51. This is amonst the worse of the industry: SKT underperforms 80.95% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.51
Debt/FCF N/A
Altman-Z 1.49
ROIC/WACC0.74
WACC7.34%
SKT Yearly LT Debt VS Equity VS FCFSKT Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 500M 1B 1.5B

2.3 Liquidity

A Current Ratio of 0.75 indicates that SKT may have some problems paying its short term obligations.
SKT has a Current ratio of 0.75. This is in the lower half of the industry: SKT underperforms 70.63% of its industry peers.
SKT has a Quick Ratio of 0.75. This is a bad value and indicates that SKT is not financially healthy enough and could expect problems in meeting its short term obligations.
SKT has a worse Quick ratio (0.75) than 67.46% of its industry peers.
Industry RankSector Rank
Current Ratio 0.75
Quick Ratio 0.75
SKT Yearly Current Assets VS Current LiabilitesSKT Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 100M 200M 300M

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3

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 27.96% over the past year.
The Earnings Per Share has been growing by 15.46% on average over the past years. This is quite good.
EPS 1Y (TTM)27.96%
EPS 3Y157.13%
EPS 5Y15.46%
EPS Q2Q%145.45%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%3.68%

3.2 Future

SKT is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -8.80% yearly.
Based on estimates for the next years, SKT will show a small growth in Revenue. The Revenue will grow by 3.19% on average per year.
EPS Next Y-23.1%
EPS Next 2Y-8.8%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year3.99%
Revenue Next 2Y3.19%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
SKT Yearly Revenue VS EstimatesSKT Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 100M 200M 300M 400M 500M
SKT Yearly EPS VS EstimatesSKT Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0 0.5 1 1.5 2

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2

4. Valuation

4.1 Price/Earnings Ratio

SKT is valuated quite expensively with a Price/Earnings ratio of 30.09.
Based on the Price/Earnings ratio, SKT is valued a bit cheaper than the industry average as 61.90% of the companies are valued more expensively.
The average S&P500 Price/Earnings ratio is at 29.63. SKT is around the same levels.
SKT is valuated quite expensively with a Price/Forward Earnings ratio of 39.13.
SKT's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. SKT is cheaper than 70.63% of the companies in the same industry.
SKT's Price/Forward Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 22.68.
Industry RankSector Rank
PE 30.09
Fwd PE 39.13
SKT Price Earnings VS Forward Price EarningsSKT Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, SKT is valued expensively inside the industry as 80.16% of the companies are valued cheaper.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 19.18
SKT Per share dataSKT EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4

4.3 Compensation for Growth

SKT has a very decent profitability rating, which may justify a higher PE ratio.
A cheap valuation may be justified as SKT's earnings are expected to decrease with -8.80% in the coming years.
PEG (NY)N/A
PEG (5Y)1.95
EPS Next 2Y-8.8%
EPS Next 3YN/A

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3

5. Dividend

5.1 Amount

SKT has a Yearly Dividend Yield of 3.06%. Purely for dividend investing, there may be better candidates out there.
SKT's Dividend Yield is slightly below the industry average, which is at 18.40.
Compared to an average S&P500 Dividend Yield of 2.27, SKT pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 3.06%

5.2 History

The dividend of SKT decreases each year by -6.91%.
SKT has paid a dividend for at least 10 years, which is a reliable track record.
SKT has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)-6.91%
Div Incr Years4
Div Non Decr Years4
SKT Yearly Dividends per shareSKT Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1

5.3 Sustainability

123.58% of the earnings are spent on dividend by SKT. This is not a sustainable payout ratio.
SKT's earnings and Dividend Rate are declining. This means the current dividend is most likely not sustainable.
DP123.58%
EPS Next 2Y-8.8%
EPS Next 3YN/A
SKT Yearly Income VS Free CF VS DividendSKT Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 100M -100M 200M -200M
SKT Dividend Payout.SKT Dividend Payout, showing the Payout Ratio.SKT Dividend Payout.PayoutRetained Earnings

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TANGER INC

NYSE:SKT (2/21/2025, 8:04:00 PM)

After market: 35.81 0 (0%)

35.81

-0.12 (-0.33%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)02-19 2025-02-19/amc
Earnings (Next)07-30 2025-07-30/amc
Inst Owners94.18%
Inst Owner Change-94.54%
Ins Owners2.22%
Ins Owner Change-3.12%
Market Cap3.96B
Analysts75.71
Price Target38.53 (7.6%)
Short Float %4.45%
Short Ratio6.86
Dividend
Industry RankSector Rank
Dividend Yield 3.06%
Yearly Dividend0.97
Dividend Growth(5Y)-6.91%
DP123.58%
Div Incr Years4
Div Non Decr Years4
Ex-Date01-31 2025-01-31 (0.275)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)12.63%
Min EPS beat(2)5.4%
Max EPS beat(2)19.85%
EPS beat(4)4
Avg EPS beat(4)8.3%
Min EPS beat(4)3.72%
Max EPS beat(4)19.85%
EPS beat(8)7
Avg EPS beat(8)24.26%
EPS beat(12)10
Avg EPS beat(12)23.14%
EPS beat(16)12
Avg EPS beat(16)29.86%
Revenue beat(2)2
Avg Revenue beat(2)4.9%
Min Revenue beat(2)4.63%
Max Revenue beat(2)5.17%
Revenue beat(4)4
Avg Revenue beat(4)4.18%
Min Revenue beat(4)0.9%
Max Revenue beat(4)6.03%
Revenue beat(8)7
Avg Revenue beat(8)3.76%
Revenue beat(12)11
Avg Revenue beat(12)3.38%
Revenue beat(16)15
Avg Revenue beat(16)5.05%
PT rev (1m)-0.58%
PT rev (3m)3.3%
EPS NQ rev (1m)0.51%
EPS NQ rev (3m)0.51%
EPS NY rev (1m)0.86%
EPS NY rev (3m)0.65%
Revenue NQ rev (1m)0.56%
Revenue NQ rev (3m)0.56%
Revenue NY rev (1m)-0.22%
Revenue NY rev (3m)0.13%
Valuation
Industry RankSector Rank
PE 30.09
Fwd PE 39.13
P/S 7.73
P/FCF N/A
P/OCF 16.06
P/B 6.97
P/tB 6.97
EV/EBITDA 19.18
EPS(TTM)1.19
EY3.32%
EPS(NY)0.92
Fwd EY2.56%
FCF(TTM)-1.49
FCFYN/A
OCF(TTM)2.23
OCFY6.22%
SpS4.63
BVpS5.13
TBVpS5.13
PEG (NY)N/A
PEG (5Y)1.95
Profitability
Industry RankSector Rank
ROA 4.17%
ROE 16.69%
ROCE 6.88%
ROIC 5.44%
ROICexc 5.47%
ROICexgc 5.47%
OM 28.24%
PM (TTM) 18.5%
GM 69.74%
FCFM N/A
ROA(3y)2.75%
ROA(5y)2.07%
ROE(3y)11.85%
ROE(5y)8.93%
ROIC(3y)4.64%
ROIC(5y)4.55%
ROICexc(3y)4.95%
ROICexc(5y)4.77%
ROICexgc(3y)4.95%
ROICexgc(5y)4.77%
ROCE(3y)5.87%
ROCE(5y)5.75%
ROICexcg growth 3Y11.84%
ROICexcg growth 5Y-1.58%
ROICexc growth 3Y11.84%
ROICexc growth 5Y-1.53%
OM growth 3Y8.72%
OM growth 5Y-1.95%
PM growth 3YN/A
PM growth 5Y19.74%
GM growth 3Y1.41%
GM growth 5Y0.01%
F-Score6
Asset Turnover0.23
Health
Industry RankSector Rank
Debt/Equity 2.51
Debt/FCF N/A
Debt/EBITDA 5.08
Cap/Depr 303.58%
Cap/Sales 80.28%
Interest Coverage 2.55
Cash Conversion 88%
Profit Quality N/A
Current Ratio 0.75
Quick Ratio 0.75
Altman-Z 1.49
F-Score6
WACC7.34%
ROIC/WACC0.74
Cap/Depr(3y)180.3%
Cap/Depr(5y)121.32%
Cap/Sales(3y)43.08%
Cap/Sales(5y)29.46%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)27.96%
EPS 3Y157.13%
EPS 5Y15.46%
EPS Q2Q%145.45%
EPS Next Y-23.1%
EPS Next 2Y-8.8%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%3.68%
Revenue Next Year3.99%
Revenue Next 2Y3.19%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y14.29%
EBIT growth 3Y15.23%
EBIT growth 5Y-3.18%
EBIT Next Year109.46%
EBIT Next 3Y31.9%
EBIT Next 5YN/A
FCF growth 1Y-235.4%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y25.63%
OCF growth 3Y11.71%
OCF growth 5Y-2.33%