SIMON PROPERTY GROUP INC (SPG) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:SPG - US8288061091 - REIT
183.32 USD
+1.02 (+0.56%)
183.32 USD
0 (0%)
We assign a fundamental rating of 5 out of 10 to SPG. SPG was compared to 128 industry peers in the Diversified REITs industry. While SPG belongs to the best of the industry regarding profitability, there are concerns on its financial health. SPG has a valuation in line with the averages, but on the other hand it scores bad on growth.
1. Profitability
1.1 Basic Checks
SPG had positive earnings in the past year.
In the past year SPG had a positive cash flow from operations.
In the past 5 years SPG has always been profitable.
SPG had a positive operating cash flow in each of the past 5 years.
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 Return On Invested Capital of 8.31%. This is amongst the best in the industry. SPG outperforms 100.00% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for SPG 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
With an excellent Profit Margin value of 36.44%, SPG belongs to the best of the industry, outperforming 89.84% of the companies in the same industry.
SPG's Profit Margin has improved in the last couple of years.
With an excellent Operating Margin value of 50.70%, SPG belongs to the best of the industry, outperforming 92.19% of the companies in the same industry.
SPG's Operating Margin has been stable in the last couple of years.
SPG has a Gross Margin of 81.99%. This is amongst the best in the industry. SPG outperforms 81.25% 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
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), SPG is creating some value.
Compared to 1 year ago, SPG has about the same amount of shares outstanding.
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
SPG has an Altman-Z score of 1.29. This is a bad value and indicates that SPG is not financially healthy and even has some risk of bankruptcy.
SPG has a Altman-Z score of 1.29. This is amongst the best in the industry. SPG outperforms 86.72% of its industry peers.
The Debt to FCF ratio of SPG is 8.26, which is on the high side as it means it would take SPG, 8.26 years of fcf income to pay off all of its debts.
SPG has a better Debt to FCF ratio (8.26) than 94.53% of its industry peers.
SPG has a Debt/Equity ratio of 10.98. This is a high value indicating a heavy dependency on external financing.
The Debt to Equity ratio of SPG (10.98) is worse than 94.53% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 10.98 | ||
| Debt/FCF | 8.26 | ||
| Altman-Z | 1.29 |
ROIC/WACC1.19
WACC6.97%
2.3 Liquidity
A Current Ratio of 0.60 indicates that SPG may have some problems paying its short term obligations.
SPG has a Current ratio of 0.60. This is in the lower half of the industry: SPG underperforms 77.34% of its industry peers.
A Quick Ratio of 0.60 indicates that SPG may have some problems paying its short term obligations.
SPG's Quick ratio of 0.60 is on the low side compared to the rest of the industry. SPG is outperformed by 76.56% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.6 | ||
| Quick Ratio | 0.6 |
3. Growth
3.1 Past
SPG shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -8.52%.
Measured over the past 5 years, SPG shows a small growth in Earnings Per Share. The EPS has been growing by 1.29% on average per year.
The Revenue has been growing slightly by 4.17% in the past year.
Measured over the past years, SPG shows a small growth in Revenue. The Revenue has been growing by 0.71% on average per year.
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
The Earnings Per Share is expected to decrease by -0.33% on average over the next years.
SPG is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.16% yearly.
EPS Next Y-10.06%
EPS Next 2Y-2.25%
EPS Next 3Y-0.35%
EPS Next 5Y-0.33%
Revenue Next Year5.8%
Revenue Next 2Y4.57%
Revenue Next 3Y4.29%
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.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 26.68, the valuation of SPG can be described as expensive.
71.88% of the companies in the same industry are more expensive than SPG, based on the Price/Earnings ratio.
SPG is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 26.41, which is the current average of the S&P500 Index.
With a Price/Forward Earnings ratio of 26.43, SPG can be considered very expensive at the moment.
81.25% of the companies in the same industry are more expensive than SPG, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of SPG to the average of the S&P500 Index (35.40), we can say SPG is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 26.68 | ||
| Fwd PE | 26.43 |
4.2 Price Multiples
SPG's Enterprise Value to EBITDA ratio is rather expensive when compared to the industry. SPG is more expensive than 81.25% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, SPG is valued a bit cheaper than 77.34% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 19.18 | ||
| EV/EBITDA | 18.36 |
4.3 Compensation for Growth
The excellent profitability rating of SPG may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)20.72
EPS Next 2Y-2.25%
EPS Next 3Y-0.35%
5. Dividend
5.1 Amount
SPG has a Yearly Dividend Yield of 4.74%, which is a nice return.
Compared to an average industry Dividend Yield of 6.34, 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 2.32.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.74% |
5.2 History
The dividend of SPG decreases each year by -0.48%.
SPG has been paying a dividend for at least 10 years, so it has 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-2.25%
EPS Next 3Y-0.35%
183.32
+1.02 (+0.56%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners92.04%
Inst Owner Change1.82%
Ins Owners0.15%
Ins Owner Change-0.34%
Market Cap59.85B
Revenue(TTM)6.16B
Net Income(TTM)2.24B
Analysts74.62
Price Target197.22 (7.58%)
Short Float %1.42%
Short Ratio3.41
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.74% |
Yearly Dividend8.12
Dividend Growth(5Y)-0.48%
DP123.15%
Div Incr Years3
Div Non Decr Years3
Ex-Date
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)2.16%
PT rev (3m)4.28%
EPS NQ rev (1m)-0.1%
EPS NQ rev (3m)-0.1%
EPS NY rev (1m)0%
EPS NY rev (3m)0.08%
Revenue NQ rev (1m)0.8%
Revenue NQ rev (3m)0.8%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.09%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 26.68 | ||
| Fwd PE | 26.43 | ||
| P/S | 9.72 | ||
| P/FCF | 19.18 | ||
| P/OCF | 14.89 | ||
| P/B | 25.47 | ||
| P/tB | 25.47 | ||
| EV/EBITDA | 18.36 |
EPS(TTM)6.87
EY3.75%
EPS(NY)6.94
Fwd EY3.78%
FCF(TTM)9.56
FCFY5.21%
OCF(TTM)12.31
OCFY6.71%
SpS18.85
BVpS7.2
TBVpS7.2
PEG (NY)N/A
PEG (5Y)20.72
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 | 1.29 |
F-Score4
WACC6.97%
ROIC/WACC1.19
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-10.06%
EPS Next 2Y-2.25%
EPS Next 3Y-0.35%
EPS Next 5Y-0.33%
Revenue 1Y (TTM)4.17%
Revenue growth 3Y5.24%
Revenue growth 5Y0.71%
Sales Q2Q%8.44%
Revenue Next Year5.8%
Revenue Next 2Y4.57%
Revenue Next 3Y4.29%
Revenue Next 5Y4.16%
EBIT growth 1Y2.34%
EBIT growth 3Y8.62%
EBIT growth 5Y1.24%
EBIT Next Year59.25%
EBIT Next 3Y19.29%
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.
What is the valuation status for SPG stock?
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.
What are the PE and PB ratios of SIMON PROPERTY GROUP INC (SPG) stock?
The Price/Earnings (PE) ratio for SIMON PROPERTY GROUP INC (SPG) is 26.68 and the Price/Book (PB) ratio is 25.47.
Is the dividend of SIMON PROPERTY GROUP INC sustainable?
The dividend rating of SIMON PROPERTY GROUP INC (SPG) is 5 / 10 and the dividend payout ratio is 123.15%.