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SL GREEN REALTY CORP (SLG) Stock Fundamental Analysis

NYSE:SLG - New York Stock Exchange, Inc. - US78440X8873 - REIT - Currency: USD

67.39  +0.91 (+1.37%)

After market: 67.39 0 (0%)

Fundamental Rating

2

SLG gets a fundamental rating of 2 out of 10. The analysis compared the fundamentals against 129 industry peers in the Diversified REITs industry. Both the profitability and financial health of SLG have multiple concerns. SLG is valued expensive and it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

In the past year SLG was profitable.
In the past year SLG had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: SLG reported negative net income in multiple years.
SLG had a positive operating cash flow in 4 of the past 5 years.
SLG Yearly Net Income VS EBIT VS OCF VS FCFSLG 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 2024 0 -1B -2B

1.2 Ratios

SLG has a worse Return On Assets (-1.57%) than 75.40% of its industry peers.
SLG has a worse Return On Equity (-4.32%) than 73.02% of its industry peers.
Looking at the Return On Invested Capital, with a value of 0.82%, SLG is doing worse than 87.30% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for SLG is below the industry average of 3.11%.
Industry RankSector Rank
ROA -1.57%
ROE -4.32%
ROIC 0.82%
ROA(3y)-2.55%
ROA(5y)-0.14%
ROE(3y)-6.22%
ROE(5y)-0.6%
ROIC(3y)1.02%
ROIC(5y)1.22%
SLG Yearly ROA, ROE, ROICSLG Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5 -10

1.3 Margins

SLG has a worse Operating Margin (10.22%) than 80.16% of its industry peers.
SLG's Operating Margin has declined in the last couple of years.
SLG's Gross Margin of 43.21% is on the low side compared to the rest of the industry. SLG is outperformed by 83.33% of its industry peers.
SLG's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 10.22%
PM (TTM) N/A
GM 43.21%
OM growth 3Y-9.66%
OM growth 5Y-13.77%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-6.16%
GM growth 5Y-5.02%
SLG Yearly Profit, Operating, Gross MarginsSLG Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 -40 60 -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 SLG is destroying value.
SLG has more shares outstanding than it did 1 year ago.
The number of shares outstanding for SLG has been reduced compared to 5 years ago.
SLG has a better debt/assets ratio than last year.
SLG Yearly Shares OutstandingSLG Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M
SLG Yearly Total Debt VS Total AssetsSLG Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

2.2 Solvency

Based on the Altman-Z score of 0.46, we must say that SLG is in the distress zone and has some risk of bankruptcy.
SLG has a Altman-Z score of 0.46. This is comparable to the rest of the industry: SLG outperforms 41.27% of its industry peers.
SLG has a Debt/Equity ratio of 1.05. This is a high value indicating a heavy dependency on external financing.
SLG's Debt to Equity ratio of 1.05 is in line compared to the rest of the industry. SLG outperforms 55.56% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.05
Debt/FCF N/A
Altman-Z 0.46
ROIC/WACC0.12
WACC6.61%
SLG Yearly LT Debt VS Equity VS FCFSLG Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B -2B 4B 6B 8B 10B

2.3 Liquidity

A Current Ratio of 0.50 indicates that SLG may have some problems paying its short term obligations.
Looking at the Current ratio, with a value of 0.50, SLG is doing worse than 88.10% of the companies in the same industry.
SLG has a Quick Ratio of 0.50. This is a bad value and indicates that SLG is not financially healthy enough and could expect problems in meeting its short term obligations.
SLG's Quick ratio of 0.50 is on the low side compared to the rest of the industry. SLG is outperformed by 84.13% of its industry peers.
Industry RankSector Rank
Current Ratio 0.5
Quick Ratio 0.5
SLG Yearly Current Assets VS Current LiabilitesSLG Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

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3

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 101.72% over the past year.
Measured over the past years, SLG shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -52.38% on average per year.
Looking at the last year, SLG shows a decrease in Revenue. The Revenue has decreased by -3.00% in the last year.
Measured over the past years, SLG shows a decrease in Revenue. The Revenue has been decreasing by -6.48% on average per year.
EPS 1Y (TTM)101.72%
EPS 3Y-77.07%
EPS 5Y-52.38%
EPS Q2Q%105.31%
Revenue 1Y (TTM)-3%
Revenue growth 3Y1.64%
Revenue growth 5Y-6.48%
Sales Q2Q%62.45%

3.2 Future

Based on estimates for the next years, SLG will show a very negative growth in Earnings Per Share. The EPS will decrease by -86.11% on average per year.
Based on estimates for the next years, SLG will show a small growth in Revenue. The Revenue will grow by 0.97% on average per year.
EPS Next Y-2129.47%
EPS Next 2Y-348.52%
EPS Next 3Y-199.05%
EPS Next 5Y-86.11%
Revenue Next Year3.85%
Revenue Next 2Y4.78%
Revenue Next 3Y3.02%
Revenue Next 5Y0.97%

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 accelerating: in the next years the growth will be better than in the last years.
SLG Yearly Revenue VS EstimatesSLG Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 500M 1B 1.5B
SLG Yearly EPS VS EstimatesSLG Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 0 5 -5

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0

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 842.38, which means the current valuation is very expensive for SLG.
Compared to the rest of the industry, the Price/Earnings ratio of SLG indicates a slightly more expensive valuation: SLG is more expensive than 67.46% of the companies listed in the same industry.
SLG's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 28.46.
The Forward Price/Earnings Ratio is negative for SLG. No positive earnings are expected for the next year.
Industry RankSector Rank
PE 842.38
Fwd PE N/A
SLG Price Earnings VS Forward Price EarningsSLG Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 200 400 600 800

4.2 Price Multiples

SLG's Enterprise Value to EBITDA ratio is rather expensive when compared to the industry. SLG is more expensive than 92.86% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 28.02
SLG Per share dataSLG EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30 40 50

4.3 Compensation for Growth

SLG's earnings are expected to decrease with -199.05% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-348.52%
EPS Next 3Y-199.05%

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4

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 4.65%, SLG is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 18.20, SLG has a dividend in line with its industry peers.
SLG's Dividend Yield is rather good when compared to the S&P500 average which is at 2.27.
Industry RankSector Rank
Dividend Yield 4.65%

5.2 History

The dividend of SLG decreases each year by -0.47%.
SLG has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)-0.47%
Div Incr Years0
Div Non Decr Years0
SLG Yearly Dividends per shareSLG Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1 2 3 4

5.3 Sustainability

The earnings of SLG are negative and hence is the payout ratio. SLG will probably not be able to sustain this dividend level.
SLG's earnings and Dividend Rate are declining. This means the current dividend is most likely not sustainable.
DP-137.45%
EPS Next 2Y-348.52%
EPS Next 3Y-199.05%
SLG Yearly Income VS Free CF VS DividendSLG Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -500M -1B -1.5B -2B -2.5B

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SL GREEN REALTY CORP

NYSE:SLG (1/31/2025, 8:04:00 PM)

After market: 67.39 0 (0%)

67.39

+0.91 (+1.37%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)01-22 2025-01-22/amc
Earnings (Next)N/A N/A
Inst Owners95.44%
Inst Owner Change-0.17%
Ins Owners0.07%
Ins Owner Change1.85%
Market Cap4.83B
Analysts66.36
Price Target73.06 (8.41%)
Short Float %9.81%
Short Ratio7.11
Dividend
Industry RankSector Rank
Dividend Yield 4.65%
Yearly Dividend3.58
Dividend Growth(5Y)-0.47%
DP-137.45%
Div Incr Years0
Div Non Decr Years0
Ex-Date01-31 2025-01-31 (0.2575)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)63.61%
Min EPS beat(2)58.08%
Max EPS beat(2)69.14%
EPS beat(4)3
Avg EPS beat(4)-7.73%
Min EPS beat(4)-174.61%
Max EPS beat(4)69.14%
EPS beat(8)3
Avg EPS beat(8)-1276.65%
EPS beat(12)5
Avg EPS beat(12)-953.23%
EPS beat(16)9
Avg EPS beat(16)226.18%
Revenue beat(2)1
Avg Revenue beat(2)1.53%
Min Revenue beat(2)-3.02%
Max Revenue beat(2)6.08%
Revenue beat(4)1
Avg Revenue beat(4)-1.72%
Min Revenue beat(4)-7.13%
Max Revenue beat(4)6.08%
Revenue beat(8)3
Avg Revenue beat(8)-1.86%
Revenue beat(12)7
Avg Revenue beat(12)7.18%
Revenue beat(16)11
Avg Revenue beat(16)8.85%
PT rev (1m)-0.43%
PT rev (3m)11.91%
EPS NQ rev (1m)35.2%
EPS NQ rev (3m)44.33%
EPS NY rev (1m)9.99%
EPS NY rev (3m)34.03%
Revenue NQ rev (1m)-3.35%
Revenue NQ rev (3m)-3.82%
Revenue NY rev (1m)-0.22%
Revenue NY rev (3m)-5.24%
Valuation
Industry RankSector Rank
PE 842.38
Fwd PE N/A
P/S 5.16
P/FCF N/A
P/OCF 40.42
P/B 1.3
P/tB 1.33
EV/EBITDA 28.02
EPS(TTM)0.08
EY0.12%
EPS(NY)-1.62
Fwd EYN/A
FCF(TTM)-1.52
FCFYN/A
OCF(TTM)1.67
OCFY2.47%
SpS13.05
BVpS51.9
TBVpS50.79
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -1.57%
ROE -4.32%
ROCE 1.04%
ROIC 0.82%
ROICexc 0.84%
ROICexgc 0.89%
OM 10.22%
PM (TTM) N/A
GM 43.21%
FCFM N/A
ROA(3y)-2.55%
ROA(5y)-0.14%
ROE(3y)-6.22%
ROE(5y)-0.6%
ROIC(3y)1.02%
ROIC(5y)1.22%
ROICexc(3y)1.04%
ROICexc(5y)1.25%
ROICexgc(3y)1.1%
ROICexgc(5y)1.31%
ROCE(3y)1.29%
ROCE(5y)1.54%
ROICexcg growth 3Y-5.98%
ROICexcg growth 5Y-14.57%
ROICexc growth 3Y-7.2%
ROICexc growth 5Y-15.22%
OM growth 3Y-9.66%
OM growth 5Y-13.77%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-6.16%
GM growth 5Y-5.02%
F-Score6
Asset Turnover0.09
Health
Industry RankSector Rank
Debt/Equity 1.05
Debt/FCF N/A
Debt/EBITDA 12.83
Cap/Depr 108.57%
Cap/Sales 24.39%
Interest Coverage 250
Cash Conversion 39.09%
Profit Quality N/A
Current Ratio 0.5
Quick Ratio 0.5
Altman-Z 0.46
F-Score6
WACC6.61%
ROIC/WACC0.12
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)101.72%
EPS 3Y-77.07%
EPS 5Y-52.38%
EPS Q2Q%105.31%
EPS Next Y-2129.47%
EPS Next 2Y-348.52%
EPS Next 3Y-199.05%
EPS Next 5Y-86.11%
Revenue 1Y (TTM)-3%
Revenue growth 3Y1.64%
Revenue growth 5Y-6.48%
Sales Q2Q%62.45%
Revenue Next Year3.85%
Revenue Next 2Y4.78%
Revenue Next 3Y3.02%
Revenue Next 5Y0.97%
EBIT growth 1Y1.57%
EBIT growth 3Y-8.17%
EBIT growth 5Y-19.36%
EBIT Next Year27.31%
EBIT Next 3Y-14.91%
EBIT Next 5Y-8.92%
FCF growth 1Y-18.19%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-42.43%
OCF growth 3YN/A
OCF growth 5YN/A