SIMON PROPERTY GROUP INC (SPG) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:SPG - US8288061091 - REIT
182.56 USD
-0.76 (-0.41%)
182.56 USD
0 (0%)
Overall SPG gets a fundamental rating of 5 out of 10. We evaluated SPG against 128 industry peers in the Diversified REITs industry. SPG scores excellent on profitability, but there are 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
In the past year SPG was profitable.
In the past year SPG had a positive cash flow from operations.
Each year in the past 5 years SPG has been profitable.
SPG had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
SPG has a better Return On Assets (6.68%) than 100.00% of its industry peers.
SPG's Return On Equity of 95.47% is amongst the best of the industry. SPG outperforms 100.00% of its industry peers.
Looking at the Return On Invested Capital, with a value of 8.31%, SPG belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
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 3 year average ROIC (7.62%) for SPG is below the current ROIC(8.31%), indicating increased profibility in the last year.
| 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 has a Profit Margin of 36.44%. This is amongst the best in the industry. SPG outperforms 89.84% of its industry peers.
In the last couple of years the Profit Margin of SPG has grown nicely.
The Operating Margin of SPG (50.70%) is better than 92.19% of its industry peers.
In the last couple of years the Operating Margin of SPG has remained more or less at the same level.
With an excellent Gross Margin value of 81.99%, SPG belongs to the best of the industry, outperforming 81.25% of the companies in the same industry.
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.
Compared to 5 years ago, SPG has more shares outstanding
Compared to 1 year ago, SPG has an improved debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 1.29, we must say that SPG is in the distress zone and has some risk of bankruptcy.
SPG's Altman-Z score of 1.29 is amongst the best of 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 Debt to FCF ratio of 8.26. This is amongst the best in the industry. SPG outperforms 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/WACC1.18
WACC7.02%
2.3 Liquidity
A Current Ratio of 0.60 indicates that SPG may have some problems paying its short term obligations.
The Current ratio of SPG (0.60) is worse than 77.34% of its industry peers.
A Quick Ratio of 0.60 indicates that SPG may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.60, SPG is doing worse than 76.56% of the companies in the same industry.
| 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.
The Revenue has been growing slightly by 0.71% on average over the past years.
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
Based on estimates for the next years, SPG will show a decrease in Earnings Per Share. The EPS will decrease by -0.33% on average per year.
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 26.57, the valuation of SPG can be described as expensive.
Based on the Price/Earnings ratio, SPG is valued a bit cheaper than 71.88% of the companies in the same industry.
SPG is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 26.46, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 26.32, the valuation of SPG can be described as expensive.
Based on the Price/Forward Earnings ratio, SPG is valued cheaply inside the industry as 81.25% of the companies are valued more expensively.
SPG is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 36.10, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 26.57 | ||
| Fwd PE | 26.32 |
4.2 Price Multiples
81.25% of the companies in the same industry are cheaper than SPG, based on the Enterprise Value to EBITDA ratio.
Based on the Price/Free Cash Flow ratio, SPG is valued a bit cheaper than the industry average as 77.34% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 19.1 | ||
| EV/EBITDA | 18.36 |
4.3 Compensation for Growth
SPG has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)20.63
EPS Next 2Y-2.25%
EPS Next 3Y-0.35%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 4.80%, SPG is a good candidate for dividend investing.
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 | 4.8% |
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.
SPG's earnings and Dividend Rate are declining. This means the current dividend is most likely not sustainable.
DP123.15%
EPS Next 2Y-2.25%
EPS Next 3Y-0.35%
182.56
-0.76 (-0.41%)
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 Change1.82%
Ins Owners0.15%
Ins Owner Change-0.34%
Market Cap59.60B
Revenue(TTM)6.16B
Net Income(TTM)2.24B
Analysts74.62
Price Target198.7 (8.84%)
Short Float %1.42%
Short Ratio3.41
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.8% |
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 | 26.57 | ||
| Fwd PE | 26.32 | ||
| P/S | 9.68 | ||
| P/FCF | 19.1 | ||
| P/OCF | 14.83 | ||
| P/B | 25.37 | ||
| P/tB | 25.37 | ||
| EV/EBITDA | 18.36 |
EPS(TTM)6.87
EY3.76%
EPS(NY)6.94
Fwd EY3.8%
FCF(TTM)9.56
FCFY5.24%
OCF(TTM)12.31
OCFY6.74%
SpS18.85
BVpS7.2
TBVpS7.2
PEG (NY)N/A
PEG (5Y)20.63
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
WACC7.02%
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-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 26.57 and the Price/Book (PB) ratio is 25.37.
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%.