SIMON PROPERTY GROUP INC (SPG) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:SPG - US8288061091 - REIT
185.07 USD
+0.85 (+0.46%)
185.07 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. 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
SPG had positive earnings in the past year.
In the past year SPG had a positive cash flow from operations.
SPG had positive earnings in each of the past 5 years.
In the past 5 years SPG always reported a positive cash flow from operatings.
1.2 Ratios
SPG has a better Return On Assets (6.68%) than 100.00% of its industry peers.
The Return On Equity of SPG (95.47%) is better than 100.00% of its industry peers.
SPG's Return On Invested Capital of 8.31% is amongst the best of the industry. SPG outperforms 100.00% of its industry peers.
The Average Return On Invested Capital over the past 3 years for SPG is above the industry average of 3.05%.
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
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.
SPG's Operating Margin of 50.70% is amongst the best of the industry. SPG outperforms 92.19% of its industry peers.
SPG's Operating Margin has been stable in the last couple of years.
With an excellent Gross Margin value of 81.99%, SPG belongs to the best of the industry, outperforming 82.03% of the companies in the same industry.
In the last couple of years the Gross Margin of SPG has remained more or less at the same level.
| 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
SPG has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
Compared to 1 year ago, SPG has about the same amount of shares outstanding.
SPG has more shares outstanding than it did 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 1.31. This is a bad value and indicates that SPG is not financially healthy and even has some risk of bankruptcy.
SPG's Altman-Z score of 1.31 is amongst the best of the industry. SPG outperforms 85.94% 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.
With an excellent Debt to FCF ratio value of 8.26, SPG belongs to the best of the industry, outperforming 94.53% of the companies in the same industry.
SPG has a Debt/Equity ratio of 10.98. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 10.98, SPG is doing worse than 94.53% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 10.98 | ||
| Debt/FCF | 8.26 | ||
| Altman-Z | 1.31 |
ROIC/WACC1.18
WACC7.05%
2.3 Liquidity
A Current Ratio of 0.60 indicates that SPG may have some problems paying its short term obligations.
SPG has a worse Current ratio (0.60) than 76.56% of its industry peers.
SPG has a Quick 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.
The Quick ratio of SPG (0.60) is worse than 75.78% 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%.
The Earnings Per Share has been growing slightly by 1.29% on average over the past years.
SPG shows a small growth in Revenue. In the last year, the Revenue has grown by 4.17%.
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.
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-8.56%
EPS Next 2Y-1.48%
EPS Next 3Y0.15%
EPS Next 5Y-0.33%
Revenue Next Year6.35%
Revenue Next 2Y5.27%
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
With a Price/Earnings ratio of 26.94, SPG can be considered very expensive at the moment.
Based on the Price/Earnings ratio, SPG is valued a bit cheaper than 67.19% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 26.26, SPG is valued at the same level.
SPG is valuated quite expensively with a Price/Forward Earnings ratio of 26.26.
SPG's Price/Forward Earnings ratio is rather cheap when compared to the industry. SPG is cheaper than 82.81% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of SPG to the average of the S&P500 Index (23.68), we can say SPG is valued inline with the index average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 26.94 | ||
| Fwd PE | 26.26 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, SPG is valued a bit more expensive than 79.69% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, SPG is valued a bit cheaper than the industry average as 76.56% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 19.36 | ||
| EV/EBITDA | 18.49 |
4.3 Compensation for Growth
SPG has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)20.92
EPS Next 2Y-1.48%
EPS Next 3Y0.15%
5. Dividend
5.1 Amount
SPG has a Yearly Dividend Yield of 4.84%, which is a nice return.
SPG's Dividend Yield is comparable with the industry average which is at 6.20.
SPG's Dividend Yield is rather good when compared to the S&P500 average which is at 1.87.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.84% |
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
SPG pays out 123.15% of its income as dividend. 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-1.48%
EPS Next 3Y0.15%
185.07
+0.85 (+0.46%)
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-0.34%
Market Cap60.42B
Revenue(TTM)6.16B
Net Income(TTM)2.24B
Analysts74.62
Price Target198.7 (7.36%)
Short Float %1.41%
Short Ratio3.34
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.84% |
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)2.5%
PT rev (3m)4.44%
EPS NQ rev (1m)0.1%
EPS NQ rev (3m)-0.1%
EPS NY rev (1m)1.66%
EPS NY rev (3m)1.74%
Revenue NQ rev (1m)0.93%
Revenue NQ rev (3m)0.8%
Revenue NY rev (1m)0.52%
Revenue NY rev (3m)0.75%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 26.94 | ||
| Fwd PE | 26.26 | ||
| P/S | 9.82 | ||
| P/FCF | 19.36 | ||
| P/OCF | 15.04 | ||
| P/B | 25.71 | ||
| P/tB | 25.71 | ||
| EV/EBITDA | 18.49 |
EPS(TTM)6.87
EY3.71%
EPS(NY)7.05
Fwd EY3.81%
FCF(TTM)9.56
FCFY5.17%
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
WACC7.05%
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-8.56%
EPS Next 2Y-1.48%
EPS Next 3Y0.15%
EPS Next 5Y-0.33%
Revenue 1Y (TTM)4.17%
Revenue growth 3Y5.24%
Revenue growth 5Y0.71%
Sales Q2Q%8.44%
Revenue Next Year6.35%
Revenue Next 2Y5.27%
Revenue Next 3Y4.86%
Revenue Next 5Y4.16%
EBIT growth 1Y2.34%
EBIT growth 3Y8.62%
EBIT growth 5Y1.24%
EBIT Next Year57.12%
EBIT Next 3Y19.79%
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 26.94 and the Price/Book (PB) ratio is 25.71.
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%.