SL GREEN REALTY CORP (SLG) Stock Fundamental Analysis
NYSE:SLG - New York Stock Exchange, Inc. - US78440X8873 - REIT - Currency: USD
We assign a fundamental rating of 2 out of 10 to SLG. SLG was compared to 129 industry peers in the Diversified REITs industry. SLG has a bad profitability rating. Also its financial health evaluation is rather negative. SLG is valued expensive and it does not seem to be growing.
1. Profitability
1.1 Basic Checks
In the past year SLG has reported negative net income.
SLG had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: SLG reported negative net income in multiple years.
In the past 5 years SLG always reported a positive cash flow from operatings.
1.2 Ratios
SLG's Return On Assets of -0.25% is on the low side compared to the rest of the industry. SLG is outperformed by 61.24% of its industry peers.
SLG has a worse Return On Equity (-0.72%) than 61.24% of its industry peers.
Looking at the Return On Invested Capital, with a value of 1.37%, SLG is doing worse than 80.62% of the companies in the same industry.
SLG had an Average Return On Invested Capital over the past 3 years of 1.02%. This is below the industry average of 3.15%.
The last Return On Invested Capital (1.37%) for SLG is above the 3 year average (1.02%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -0.25% | ||
| ROE | -0.72% | ||
| ROIC | 1.37% |
ROA(3y)-2.28%
ROA(5y)0.02%
ROE(3y)-5.53%
ROE(5y)-0.18%
ROIC(3y)1.02%
ROIC(5y)1.22%
1.3 Margins
SLG's Profit Margin has declined in the last couple of years.
SLG has a Operating Margin (19.19%) which is comparable to the rest of the industry.
In the last couple of years the Operating Margin of SLG has declined.
With a Gross Margin value of 49.52%, SLG is not doing good in the industry: 78.29% of the companies in the same industry are doing better.
SLG's Gross Margin has declined in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 19.19% | ||
| PM (TTM) | N/A | ||
| GM | 49.52% |
OM growth 3Y-9.66%
OM growth 5Y-13.77%
PM growth 3Y-77.51%
PM growth 5Y-51%
GM growth 3Y-6.16%
GM growth 5Y-5.02%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so SLG is destroying value.
Compared to 1 year ago, SLG has more shares outstanding
SLG has less shares outstanding than it did 5 years ago.
The debt/assets ratio for SLG has been reduced compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 0.38, we must say that SLG is in the distress zone and has some risk of bankruptcy.
SLG's Altman-Z score of 0.38 is in line compared to the rest of the industry. SLG outperforms 41.09% of its industry peers.
SLG has a Debt/Equity ratio of 0.98. This is a neutral value indicating SLG is somewhat dependend on debt financing.
The Debt to Equity ratio of SLG (0.98) is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.98 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.38 |
ROIC/WACC0.19
WACC7.28%
2.3 Liquidity
A Current Ratio of 0.50 indicates that SLG may have some problems paying its short term obligations.
The Current ratio of SLG (0.50) is worse than 79.07% of its industry peers.
A Quick Ratio of 0.50 indicates that SLG may have some problems paying its short term obligations.
SLG has a Quick ratio of 0.50. This is in the lower half of the industry: SLG underperforms 78.29% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.5 | ||
| Quick Ratio | 0.5 |
3. Growth
3.1 Past
SLG shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 89.01%, which is quite impressive.
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.
SLG shows a small growth in Revenue. In the last year, the Revenue has grown by 6.86%.
The Revenue has been decreasing by -6.48% on average over the past years.
EPS 1Y (TTM)89.01%
EPS 3Y-77.07%
EPS 5Y-52.38%
EPS Q2Q%-250%
Revenue 1Y (TTM)6.86%
Revenue growth 3Y1.64%
Revenue growth 5Y-6.48%
Sales Q2Q%2.13%
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 -79.31% on average per year.
The Revenue is expected to grow by 4.70% on average over the next years.
EPS Next Y-1400.37%
EPS Next 2Y-284.48%
EPS Next 3Y-164.66%
EPS Next 5Y-79.31%
Revenue Next Year9.13%
Revenue Next 2Y5.24%
Revenue Next 3Y5.05%
Revenue Next 5Y4.7%
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.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings Ratio is negative for SLG. In the last year negative earnings were reported.
Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for SLG. No positive earnings are expected for the next year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | N/A |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, SLG is valued more expensive than 86.05% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 20.31 |
4.3 Compensation for Growth
A cheap valuation may be justified as SLG's earnings are expected to decrease with -164.66% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-284.48%
EPS Next 3Y-164.66%
5. Dividend
5.1 Amount
SLG has a Yearly Dividend Yield of 4.87%, which is a nice return.
SLG's Dividend Yield is comparable with the industry average which is at 6.45.
SLG's Dividend Yield is rather good when compared to the S&P500 average which is at 2.35.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.87% |
5.2 History
The dividend of SLG decreases each year by -3.64%.
SLG has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)-3.64%
Div Incr Years0
Div Non Decr Years0
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-776%
EPS Next 2Y-284.48%
EPS Next 3Y-164.66%
63.94
+0.44 (+0.69%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners89.74%
Inst Owner Change0%
Ins Owners0.07%
Ins Owner Change-1.62%
Market Cap4.54B
Analysts67.62
Price Target64.9 (1.5%)
Short Float %10.32%
Short Ratio7.84
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.87% |
Yearly Dividend3.22
Dividend Growth(5Y)-3.64%
DP-776%
Div Incr Years0
Div Non Decr Years0
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)90.65%
Min EPS beat(2)33.62%
Max EPS beat(2)147.67%
EPS beat(4)4
Avg EPS beat(4)77.13%
Min EPS beat(4)33.62%
Max EPS beat(4)147.67%
EPS beat(8)5
Avg EPS beat(8)8.52%
EPS beat(12)6
Avg EPS beat(12)-974.6%
EPS beat(16)9
Avg EPS beat(16)161.92%
Revenue beat(2)1
Avg Revenue beat(2)29.95%
Min Revenue beat(2)-6.71%
Max Revenue beat(2)66.61%
Revenue beat(4)2
Avg Revenue beat(4)15.74%
Min Revenue beat(4)-6.71%
Max Revenue beat(4)66.61%
Revenue beat(8)2
Avg Revenue beat(8)3.03%
Revenue beat(12)6
Avg Revenue beat(12)8.71%
Revenue beat(16)10
Avg Revenue beat(16)10.38%
PT rev (1m)0.79%
PT rev (3m)-7.29%
EPS NQ rev (1m)14.18%
EPS NQ rev (3m)60.34%
EPS NY rev (1m)31.49%
EPS NY rev (3m)37.58%
Revenue NQ rev (1m)-0.18%
Revenue NQ rev (3m)1.4%
Revenue NY rev (1m)0.25%
Revenue NY rev (3m)-1.5%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | N/A | ||
| P/S | 4.84 | ||
| P/FCF | N/A | ||
| P/OCF | 28.21 | ||
| P/B | 1.13 | ||
| P/tB | 1.19 | ||
| EV/EBITDA | 20.31 |
EPS(TTM)-0.42
EYN/A
EPS(NY)-1.02
Fwd EYN/A
FCF(TTM)-2.57
FCFYN/A
OCF(TTM)2.27
OCFY3.55%
SpS13.21
BVpS56.78
TBVpS53.95
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -0.25% | ||
| ROE | -0.72% | ||
| ROCE | 1.73% | ||
| ROIC | 1.37% | ||
| ROICexc | 1.39% | ||
| ROICexgc | 1.49% | ||
| OM | 19.19% | ||
| PM (TTM) | N/A | ||
| GM | 49.52% | ||
| FCFM | N/A |
ROA(3y)-2.28%
ROA(5y)0.02%
ROE(3y)-5.53%
ROE(5y)-0.18%
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-5.93%
ROICexcg growth 5Y-14.54%
ROICexc growth 3Y-7.19%
ROICexc growth 5Y-15.22%
OM growth 3Y-9.66%
OM growth 5Y-13.77%
PM growth 3Y-77.51%
PM growth 5Y-51%
GM growth 3Y-6.16%
GM growth 5Y-5.02%
F-Score5
Asset Turnover0.08
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.98 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 9.68 | ||
| Cap/Depr | 149.15% | ||
| Cap/Sales | 36.58% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 39.25% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.5 | ||
| Quick Ratio | 0.5 | ||
| Altman-Z | 0.38 |
F-Score5
WACC7.28%
ROIC/WACC0.19
Cap/Depr(3y)121.42%
Cap/Depr(5y)146.22%
Cap/Sales(3y)30.68%
Cap/Sales(5y)39.55%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)89.01%
EPS 3Y-77.07%
EPS 5Y-52.38%
EPS Q2Q%-250%
EPS Next Y-1400.37%
EPS Next 2Y-284.48%
EPS Next 3Y-164.66%
EPS Next 5Y-79.31%
Revenue 1Y (TTM)6.86%
Revenue growth 3Y1.64%
Revenue growth 5Y-6.48%
Sales Q2Q%2.13%
Revenue Next Year9.13%
Revenue Next 2Y5.24%
Revenue Next 3Y5.05%
Revenue Next 5Y4.7%
EBIT growth 1Y157.52%
EBIT growth 3Y-8.17%
EBIT growth 5Y-19.36%
EBIT Next Year55.35%
EBIT Next 3Y18.21%
EBIT Next 5Y-5.62%
FCF growth 1Y-41.83%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-32.08%
OCF growth 3Y-20.3%
OCF growth 5Y-19.21%