SIMON PROPERTY GROUP INC (SPG) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:SPG - US8288061091 - REIT
185.11 USD
-1.72 (-0.92%)
185.11 USD
0 (0%)
Overall SPG gets a fundamental rating of 5 out of 10. We evaluated SPG against 127 industry peers in the Diversified REITs industry. While SPG has a great profitability rating, there are quite some concerns on its financial health. SPG has a valuation in line with the averages, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
SPG had positive earnings in the past year.
SPG had a positive operating cash flow in the past year.
In the past 5 years SPG has always been profitable.
In the past 5 years SPG always reported a positive cash flow from operatings.
1.2 Ratios
With an excellent Return On Assets value of 6.68%, SPG belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
SPG's Return On Equity of 95.47% is amongst the best of the industry. SPG outperforms 100.00% of its industry peers.
SPG has a better Return On Invested Capital (8.31%) than 100.00% of its industry peers.
SPG had an Average Return On Invested Capital over the past 3 years of 7.62%. This is above the industry average of 3.06%.
The last Return On Invested Capital (8.31%) for SPG is above the 3 year average (7.62%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.68% | ||
| ROE | 95.47% | ||
| ROIC | 8.31% |
ROA(3y)6.81%
ROA(5y)6.05%
ROE(3y)74.65%
ROE(5y)65.46%
ROIC(3y)7.62%
ROIC(5y)6.84%
1.3 Margins
SPG's Profit Margin of 36.44% is amongst the best of the industry. SPG outperforms 89.76% of its industry peers.
In the last couple of years the Profit Margin of SPG has grown nicely.
SPG's Operating Margin of 50.70% is amongst the best of the industry. SPG outperforms 92.13% of its industry peers.
In the last couple of years the Operating Margin of SPG has remained more or less at the same level.
SPG has a better Gross Margin (81.99%) than 81.89% of its industry peers.
SPG's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 50.7% | ||
| PM (TTM) | 36.44% | ||
| GM | 81.99% |
OM growth 3Y3.22%
OM growth 5Y0.52%
PM growth 3Y-3.3%
PM growth 5Y1.72%
GM growth 3Y0.61%
GM growth 5Y0.06%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so SPG is still creating some value.
The number of shares outstanding for SPG remains at a similar level compared to 1 year ago.
The number of shares outstanding for SPG has been increased compared to 5 years ago.
The debt/assets ratio for SPG has been reduced compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 1.31, we must say that SPG is in the distress zone and has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 1.31, SPG belongs to the top of the industry, outperforming 85.83% of the companies in the same industry.
SPG has a debt to FCF ratio of 8.26. This is a slightly negative value and a sign of low solvency as SPG would need 8.26 years to pay back of all of its debts.
With an excellent Debt to FCF ratio value of 8.26, SPG belongs to the best of the industry, outperforming 94.49% of the companies in the same industry.
A Debt/Equity ratio of 10.98 is on the high side and indicates that SPG has dependencies on debt financing.
SPG's Debt to Equity ratio of 10.98 is on the low side compared to the rest of the industry. SPG is outperformed by 93.70% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 10.98 | ||
| Debt/FCF | 8.26 | ||
| Altman-Z | 1.31 |
ROIC/WACC1.18
WACC7.04%
2.3 Liquidity
SPG has a Current Ratio of 0.60. This is a bad value and indicates that SPG is not financially healthy enough and could expect problems in meeting its short term obligations.
SPG has a worse Current ratio (0.60) than 75.59% of its industry peers.
A Quick Ratio of 0.60 indicates that SPG may have some problems paying its short term obligations.
With a Quick ratio value of 0.60, SPG is not doing good in the industry: 74.80% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.6 | ||
| Quick Ratio | 0.6 |
3. Growth
3.1 Past
The earnings per share for SPG have decreased by -8.52% in the last year.
SPG shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 1.29% yearly.
The Revenue has been growing slightly by 4.17% in the past year.
SPG shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 0.71% yearly.
EPS 1Y (TTM)-8.52%
EPS 3Y5.29%
EPS 5Y1.29%
EPS Q2Q%27.4%
Revenue 1Y (TTM)4.17%
Revenue growth 3Y5.24%
Revenue growth 5Y0.71%
Sales Q2Q%8.44%
3.2 Future
SPG is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -0.33% yearly.
Based on estimates for the next years, SPG will show a small growth in Revenue. The Revenue will grow by 4.16% on average per year.
EPS Next Y-7.96%
EPS Next 2Y-1.67%
EPS Next 3Y-0.21%
EPS Next 5Y-0.33%
Revenue Next Year6.41%
Revenue Next 2Y5.35%
Revenue Next 3Y4.86%
Revenue Next 5Y4.16%
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
SPG is valuated quite expensively with a Price/Earnings ratio of 26.94.
Compared to the rest of the industry, the Price/Earnings ratio of SPG indicates a somewhat cheap valuation: SPG is cheaper than 66.93% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of SPG to the average of the S&P500 Index (26.51), we can say SPG is valued inline with the index average.
SPG is valuated quite expensively with a Price/Forward Earnings ratio of 26.37.
Based on the Price/Forward Earnings ratio, SPG is valued cheaply inside the industry as 81.89% of the companies are valued more expensively.
SPG's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 23.13.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 26.94 | ||
| Fwd PE | 26.37 |
4.2 Price Multiples
79.53% of the companies in the same industry are cheaper than SPG, based on the Enterprise Value to EBITDA ratio.
SPG's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. SPG is cheaper than 76.38% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 19.36 | ||
| EV/EBITDA | 18.49 |
4.3 Compensation for Growth
The excellent profitability rating of SPG may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)20.92
EPS Next 2Y-1.67%
EPS Next 3Y-0.21%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 4.67%, SPG is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 6.43, SPG has a dividend in line with its industry peers.
SPG's Dividend Yield is rather good when compared to the S&P500 average which is at 2.00.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.67% |
5.2 History
The dividend of SPG decreases each year by -0.48%.
SPG has paid a dividend for at least 10 years, which is a reliable track record.
SPG has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)-0.48%
Div Incr Years3
Div Non Decr Years3
5.3 Sustainability
123.15% of the earnings are spent on dividend by SPG. This is not a sustainable payout ratio.
The Dividend Rate of SPG has been decling, while earnings will also be declining. This means the current dividend is most likely not sustainable.
DP123.15%
EPS Next 2Y-1.67%
EPS Next 3Y-0.21%
185.11
-1.72 (-0.92%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners93.56%
Inst Owner Change1.83%
Ins Owners0.15%
Ins Owner Change-0.3%
Market Cap60.43B
Revenue(TTM)6.16B
Net Income(TTM)2.24B
Analysts74.62
Price Target199.31 (7.67%)
Short Float %1.61%
Short Ratio3.8
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.67% |
Yearly Dividend8.12
Dividend Growth(5Y)-0.48%
DP123.15%
Div Incr Years3
Div Non Decr Years3
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)7.15%
Min EPS beat(2)4.67%
Max EPS beat(2)9.62%
EPS beat(4)3
Avg EPS beat(4)2.32%
Min EPS beat(4)-9.93%
Max EPS beat(4)9.62%
EPS beat(8)5
Avg EPS beat(8)10.44%
EPS beat(12)7
Avg EPS beat(12)9.49%
EPS beat(16)10
Avg EPS beat(16)8.55%
Revenue beat(2)1
Avg Revenue beat(2)-1.27%
Min Revenue beat(2)-3.94%
Max Revenue beat(2)1.39%
Revenue beat(4)2
Avg Revenue beat(4)-0.37%
Min Revenue beat(4)-3.94%
Max Revenue beat(4)1.39%
Revenue beat(8)4
Avg Revenue beat(8)-0.26%
Revenue beat(12)6
Avg Revenue beat(12)0.59%
Revenue beat(16)10
Avg Revenue beat(16)2%
PT rev (1m)1.06%
PT rev (3m)4.76%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-0.1%
EPS NY rev (1m)2.34%
EPS NY rev (3m)2.34%
Revenue NQ rev (1m)0.2%
Revenue NQ rev (3m)0.99%
Revenue NY rev (1m)0.58%
Revenue NY rev (3m)0.8%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 26.94 | ||
| Fwd PE | 26.37 | ||
| P/S | 9.82 | ||
| P/FCF | 19.36 | ||
| P/OCF | 15.04 | ||
| P/B | 25.72 | ||
| P/tB | 25.72 | ||
| EV/EBITDA | 18.49 |
EPS(TTM)6.87
EY3.71%
EPS(NY)7.02
Fwd EY3.79%
FCF(TTM)9.56
FCFY5.16%
OCF(TTM)12.31
OCFY6.65%
SpS18.85
BVpS7.2
TBVpS7.2
PEG (NY)N/A
PEG (5Y)20.92
Graham Number33.35
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.68% | ||
| ROE | 95.47% | ||
| ROCE | 10.52% | ||
| ROIC | 8.31% | ||
| ROICexc | 8.77% | ||
| ROICexgc | 9.24% | ||
| OM | 50.7% | ||
| PM (TTM) | 36.44% | ||
| GM | 81.99% | ||
| FCFM | 50.71% |
ROA(3y)6.81%
ROA(5y)6.05%
ROE(3y)74.65%
ROE(5y)65.46%
ROIC(3y)7.62%
ROIC(5y)6.84%
ROICexc(3y)7.91%
ROICexc(5y)7.07%
ROICexgc(3y)7.92%
ROICexgc(5y)7.08%
ROCE(3y)9.64%
ROCE(5y)8.65%
ROICexgc growth 3Y12.01%
ROICexgc growth 5Y1.19%
ROICexc growth 3Y12.04%
ROICexc growth 5Y1.24%
OM growth 3Y3.22%
OM growth 5Y0.52%
PM growth 3Y-3.3%
PM growth 5Y1.72%
GM growth 3Y0.61%
GM growth 5Y0.06%
F-Score4
Asset Turnover0.18
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 10.98 | ||
| Debt/FCF | 8.26 | ||
| Debt/EBITDA | 5.63 | ||
| Cap/Depr | 61.52% | ||
| Cap/Sales | 14.58% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 87.75% | ||
| Profit Quality | 139.13% | ||
| Current Ratio | 0.6 | ||
| Quick Ratio | 0.6 | ||
| Altman-Z | 1.31 |
F-Score4
WACC7.04%
ROIC/WACC1.18
Cap/Depr(3y)55.12%
Cap/Depr(5y)48.18%
Cap/Sales(3y)12.99%
Cap/Sales(5y)11.96%
Profit Quality(3y)137.57%
Profit Quality(5y)143.45%
High Growth Momentum
Growth
EPS 1Y (TTM)-8.52%
EPS 3Y5.29%
EPS 5Y1.29%
EPS Q2Q%27.4%
EPS Next Y-7.96%
EPS Next 2Y-1.67%
EPS Next 3Y-0.21%
EPS Next 5Y-0.33%
Revenue 1Y (TTM)4.17%
Revenue growth 3Y5.24%
Revenue growth 5Y0.71%
Sales Q2Q%8.44%
Revenue Next Year6.41%
Revenue Next 2Y5.35%
Revenue Next 3Y4.86%
Revenue Next 5Y4.16%
EBIT growth 1Y2.34%
EBIT growth 3Y8.62%
EBIT growth 5Y1.24%
EBIT Next Year57.15%
EBIT Next 3Y19.73%
EBIT Next 5Y13.34%
FCF growth 1Y3.12%
FCF growth 3Y-0.54%
FCF growth 5Y0.85%
OCF growth 1Y5.02%
OCF growth 3Y1.6%
OCF growth 5Y0.04%
SIMON PROPERTY GROUP INC / SPG FAQ
Can you provide the ChartMill fundamental rating for SIMON PROPERTY GROUP INC?
ChartMill assigns a fundamental rating of 5 / 10 to SPG.
Can you provide the valuation status for SIMON PROPERTY GROUP INC?
ChartMill assigns a valuation rating of 4 / 10 to SIMON PROPERTY GROUP INC (SPG). This can be considered as Fairly Valued.
What is the profitability of SPG stock?
SIMON PROPERTY GROUP INC (SPG) has a profitability rating of 9 / 10.
Can you provide the financial health for SPG stock?
The financial health rating of SIMON PROPERTY GROUP INC (SPG) is 3 / 10.
Can you provide the expected EPS growth for SPG stock?
The Earnings per Share (EPS) of SIMON PROPERTY GROUP INC (SPG) is expected to decline by -7.96% in the next year.