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SL GREEN REALTY CORP (SLG) Stock Fundamental Analysis

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

60.41  -1.42 (-2.3%)

Fundamental Rating

2

Overall SLG gets a fundamental rating of 2 out of 10. We evaluated SLG against 129 industry peers in the Diversified REITs industry. SLG may be in some trouble as it scores bad on both profitability and health. 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

SLG had positive earnings in the past year.
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.
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 Return On Assets of -1.57%. This is in the lower half of the industry: SLG underperforms 72.09% of its industry peers.
The Return On Equity of SLG (-4.32%) is worse than 68.99% of its industry peers.
SLG has a Return On Invested Capital of 0.82%. This is amonst the worse of the industry: SLG underperforms 85.27% of its industry peers.
The Average Return On Invested Capital over the past 3 years for SLG is below the industry average of 3.15%.
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 78.29% 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 81.40% of its industry peers.
In the last couple of years the Gross Margin of SLG has declined.
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

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), 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.
The debt/assets ratio for SLG has been reduced compared to a year ago.
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

SLG has an Altman-Z score of 0.41. This is a bad value and indicates that SLG is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of SLG (0.41) is worse than 60.47% of its industry peers.
A Debt/Equity ratio of 1.05 is on the high side and indicates that SLG has dependencies on debt financing.
SLG's Debt to Equity ratio of 1.05 is in line compared to the rest of the industry. SLG outperforms 56.59% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.05
Debt/FCF N/A
Altman-Z 0.41
ROIC/WACC0.12
WACC6.83%
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 80.62% 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.
The Quick ratio of SLG (0.50) is worse than 79.07% 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.
The earnings per share for SLG have been decreasing by -52.38% on average. This is quite bad
Looking at the last year, SLG shows a decrease in Revenue. The Revenue has decreased by -3.00% in the last year.
SLG shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -6.48% yearly.
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

SLG is expected to show a very negative growth in Earnings Per Share. In the coming years, the EPS will decrease by -86.11% yearly.
Based on estimates for the next years, SLG will show a small growth in Revenue. The Revenue will grow by 1.04% on average per year.
EPS Next Y-3344.62%
EPS Next 2Y-423.22%
EPS Next 3Y-199.05%
EPS Next 5Y-86.11%
Revenue Next Year9.8%
Revenue Next 2Y5.86%
Revenue Next 3Y3.14%
Revenue Next 5Y1.04%

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 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 755.12, which means the current valuation is very expensive for SLG.
SLG's Price/Earnings ratio is a bit more expensive when compared to the industry. SLG is more expensive than 68.99% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 29.71, SLG is valued quite expensively.
The Forward Price/Earnings Ratio is negative for SLG. No positive earnings are expected for the next year.
Industry RankSector Rank
PE 755.12
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

4.2 Price Multiples

SLG's Enterprise Value to EBITDA ratio is rather expensive when compared to the industry. SLG is more expensive than 89.92% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 26.37
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

A cheap valuation may be justified as SLG's earnings are expected to decrease with -199.05% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-423.22%
EPS Next 3Y-199.05%

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4

5. Dividend

5.1 Amount

SLG has a Yearly Dividend Yield of 4.79%, which is a nice return.
Compared to an average industry Dividend Yield of 19.25, 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 2.30.
Industry RankSector Rank
Dividend Yield 4.79%

5.2 History

The dividend of SLG decreases each year by -0.47%.
SLG has paid a dividend for at least 10 years, which is 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

SLG has negative earnings and hence a negative payout ratio. The dividend may be in danger.
SLG's earnings and Dividend Rate are declining. This means the current dividend is most likely not sustainable.
DP-137.45%
EPS Next 2Y-423.22%
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 (3/6/2025, 11:15:01 AM)

60.41

-1.42 (-2.3%)

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)07-15 2025-07-15/amc
Inst Owners93.29%
Inst Owner Change9.9%
Ins Owners0.07%
Ins Owner Change2.74%
Market Cap4.23B
Analysts66.67
Price Target74.05 (22.58%)
Short Float %8.82%
Short Ratio7.46
Dividend
Industry RankSector Rank
Dividend Yield 4.79%
Yearly Dividend3.58
Dividend Growth(5Y)-0.47%
DP-137.45%
Div Incr Years0
Div Non Decr Years0
Ex-Date02-28 2025-02-28 (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)1.36%
PT rev (3m)5.6%
EPS NQ rev (1m)0%
EPS NQ rev (3m)35.2%
EPS NY rev (1m)-59.88%
EPS NY rev (3m)-22.24%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-3.35%
Revenue NY rev (1m)5.36%
Revenue NY rev (3m)0.2%
Valuation
Industry RankSector Rank
PE 755.12
Fwd PE N/A
P/S 4.52
P/FCF N/A
P/OCF 35.37
P/B 1.14
P/tB 1.16
EV/EBITDA 26.37
EPS(TTM)0.08
EY0.13%
EPS(NY)-2.6
Fwd EYN/A
FCF(TTM)-1.55
FCFYN/A
OCF(TTM)1.71
OCFY2.83%
SpS13.37
BVpS53.16
TBVpS52.02
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 0.41
F-Score6
WACC6.83%
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-3344.62%
EPS Next 2Y-423.22%
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 Year9.8%
Revenue Next 2Y5.86%
Revenue Next 3Y3.14%
Revenue Next 5Y1.04%
EBIT growth 1Y1.57%
EBIT growth 3Y-8.17%
EBIT growth 5Y-19.36%
EBIT Next Year87.61%
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