SIMON PROPERTY GROUP INC (SPG) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:SPG - US8288061091 - REIT
184.69 USD
-0.29 (-0.16%)
184.69 USD
0 (0%)
Taking everything into account, SPG scores 5 out of 10 in our fundamental rating. SPG was compared to 126 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.
Each year in the past 5 years SPG had a positive operating cash flow.
1.2 Ratios
Looking at the Return On Assets, with a value of 6.68%, SPG belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
SPG has a Return On Equity of 95.47%. This is amongst the best in the industry. SPG outperforms 100.00% of its industry peers.
The Return On Invested Capital of SPG (8.31%) is better than 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 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 90.48% of the companies in the same industry.
In the last couple of years the Profit Margin of SPG has grown nicely.
The Operating Margin of SPG (50.70%) is better than 92.86% of its industry peers.
SPG's Operating Margin has been stable in the last couple of years.
Looking at the Gross Margin, with a value of 81.99%, SPG belongs to the top of the industry, outperforming 82.54% 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.
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 1.30, we must say that SPG is in the distress zone and has some risk of bankruptcy.
SPG has a better Altman-Z score (1.30) than 86.51% of its industry peers.
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.
SPG has a better Debt to FCF ratio (8.26) than 94.44% of its industry peers.
A Debt/Equity ratio of 10.98 is on the high side and indicates that SPG has dependencies on debt financing.
SPG has a worse Debt to Equity ratio (10.98) than 93.65% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 10.98 | ||
| Debt/FCF | 8.26 | ||
| Altman-Z | 1.3 |
ROIC/WACC1.18
WACC7.07%
2.3 Liquidity
A Current Ratio of 0.60 indicates that SPG may have some problems paying its short term obligations.
With a Current ratio value of 0.60, SPG is not doing good in the industry: 75.40% of the companies in the same industry are doing better.
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.
Looking at the Quick ratio, with a value of 0.60, SPG is doing worse than 74.60% 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.
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 -0.02% on average per year.
Based on estimates for the next years, SPG will show a small growth in Revenue. The Revenue will grow by 4.57% on average per year.
EPS Next Y-7.96%
EPS Next 2Y-1.67%
EPS Next 3Y-0.21%
EPS Next 5Y-0.02%
Revenue Next Year6.41%
Revenue Next 2Y5.35%
Revenue Next 3Y4.86%
Revenue Next 5Y4.57%
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.
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
The Price/Earnings ratio is 26.88, which means the current valuation is very expensive for SPG.
Based on the Price/Earnings ratio, SPG is valued a bit cheaper than 69.05% of the companies in the same industry.
SPG's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 27.19.
Based on the Price/Forward Earnings ratio of 26.31, the valuation of SPG can be described as expensive.
Based on the Price/Forward Earnings ratio, SPG is valued cheaper than 83.33% of the companies in the same industry.
SPG is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 23.92, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 26.88 | ||
| Fwd PE | 26.31 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of SPG indicates a slightly more expensive valuation: SPG is more expensive than 77.78% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, SPG is valued a bit cheaper than the industry average as 76.98% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 19.32 | ||
| EV/EBITDA | 18.46 |
4.3 Compensation for Growth
SPG has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)20.87
EPS Next 2Y-1.67%
EPS Next 3Y-0.21%
5. Dividend
5.1 Amount
SPG has a Yearly Dividend Yield of 4.76%, which is a nice return.
Compared to an average industry Dividend Yield of 6.86, 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 1.92.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.76% |
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
SPG pays out 123.15% of its income as dividend. 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-1.67%
EPS Next 3Y-0.21%
184.69
-0.29 (-0.16%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners93.54%
Inst Owner Change0.04%
Ins Owners0.15%
Ins Owner Change-0.29%
Market Cap60.30B
Revenue(TTM)6.16B
Net Income(TTM)2.24B
Analysts74.4
Price Target199.31 (7.92%)
Short Float %1.61%
Short Ratio3.8
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.76% |
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)0.31%
PT rev (3m)3.24%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-0.1%
EPS NY rev (1m)0.66%
EPS NY rev (3m)2.34%
Revenue NQ rev (1m)0.2%
Revenue NQ rev (3m)0.99%
Revenue NY rev (1m)0.05%
Revenue NY rev (3m)0.73%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 26.88 | ||
| Fwd PE | 26.31 | ||
| P/S | 9.8 | ||
| P/FCF | 19.32 | ||
| P/OCF | 15.01 | ||
| P/B | 25.66 | ||
| P/tB | 25.66 | ||
| EV/EBITDA | 18.46 |
EPS(TTM)6.87
EY3.72%
EPS(NY)7.02
Fwd EY3.8%
FCF(TTM)9.56
FCFY5.18%
OCF(TTM)12.31
OCFY6.66%
SpS18.85
BVpS7.2
TBVpS7.2
PEG (NY)N/A
PEG (5Y)20.87
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 | 1.3 |
F-Score4
WACC7.07%
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-0.02%
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 5Y4.57%
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.