Essex Property Trust Inc.
Find Ratings ReportsESSEX PROPERTY TRUST's gross profit margin for the fourth quarter of its fiscal year 2023 has decreased when compared to the same period a year ago. Sales and net income have dropped, underperforming the average competitor within its subsector.
During the same period, stockholders' equity ("net worth") has decreased by 5.13% from the same quarter last year.
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Income Statement | Q4 FY23 | Q4 FY22 |
---|---|---|
Net Sales ($mil) | 414.97 | 429.99 |
EBITDA ($mil) | 0.0 | 0.0 |
EBIT ($mil) | 123.57 | 148.53 |
Net Income ($mil) | 65.39 | 185.17 |
Balance Sheet | Q4 FY23 | Q4 FY22 |
---|---|---|
Cash & Equiv. ($mil) | 400.33 | 42.68 |
Total Assets ($mil) | 12361.43 | 12372.91 |
Total Debt ($mil) | 6270.83 | 6026.88 |
Equity ($mil) | 5422.75 | 5716.37 |
Profitability | Q4 FY23 | Q4 FY22 |
---|---|---|
Gross Profit Margin | 34.59 | 38.71 |
EBITDA Margin | 0.0 | 0.0 |
Operating Margin | 29.78 | 34.54 |
Sales Turnover | 0.14 | 0.13 |
Return on Assets | 3.28 | 3.3 |
Return on Equity | 7.48 | 7.14 |
Debt | Q4 FY23 | Q4 FY22 |
---|---|---|
Current Ratio | 0.0 | 0.0 |
Debt/Capital | 0.54 | 0.51 |
Interest Expense | 54.65 | 51.44 |
Interest Coverage | 2.26 | 2.89 |
Share Data | Q4 FY23 | Q4 FY22 |
---|---|---|
Shares outstanding (mil) | 64.2 | 64.61 |
Div / share | 2.31 | 2.2 |
EPS | 1.02 | 2.86 |
Book value / share | 84.46 | 88.48 |
Institutional Own % | n/a | n/a |
Avg Daily Volume | 436092.0 | 427748.0 |
HOLD. This stock's P/E ratio indicates a significant discount compared to an average of 49.19 for the Real Estate subsector and a premium compared to the S&P 500 average of 27.95. For additional comparison, its price-to-book ratio of 2.81 indicates a significant discount versus the S&P 500 average of 4.68 and a significant discount versus the subsector average of 6.43. The price-to-sales ratio is well above both the S&P 500 average and the subsector average, indicating a premium. Upon assessment of these and other key valuation criteria, ESSEX PROPERTY TRUST proves to trade at a discount to investment alternatives.
Price/Earnings |
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Price/Cash Flow |
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ESS 37.58 | Peers 49.19 | ESS 15.53 | Peers 18.58 | |||||||||||||||||||||
Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations. ESS is trading at a discount to its peers. |
Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures. ESS is trading at a discount to its peers. |
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Price/Projected Earnings |
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Price to Earnings/Growth |
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ESS 40.33 | Peers 40.04 | ESS NM | Peers 5.86 | |||||||||||||||||||||
Average. An average price-to-projected earnings ratio can signify an subsector neutral stock price and average future growth expectations. ESS is trading at a valuation on par with its peers. |
Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples. ESS's negative PEG ratio makes this valuation measure meaningless. |
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Price/Book |
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Earnings Growth |
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ESS 2.81 | Peers 6.43 | ESS 0.47 | Peers -7.55 | |||||||||||||||||||||
Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet. ESS is trading at a significant discount to its peers. |
Higher. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios. ESS is expected to have an earnings growth rate that significantly exceeds its peers. |
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Price/Sales |
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Sales Growth |
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ESS 8.87 | Peers 7.79 | ESS 6.35 | Peers 11.68 | |||||||||||||||||||||
Premium. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales. ESS is trading at a premium to its subsector on this measurement. |
Lower. A sales growth rate that trails the subsector implies that a company is losing market share. ESS significantly trails its peers on the basis of sales growth. |
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