Kimco Realty Corporation (HC)
Find Ratings ReportsKIMCO REALTY CORP's gross profit margin for the fourth quarter of its fiscal year 2023 is essentially unchanged when compared to the same period a year ago. The company has grown sales and net income during the past quarter when compared with the same quarter a year ago, however, it was unable to keep up with the growth of the average competitor within its subsector.
During the same period, stockholders' equity ("net worth") has remained unchanged from the same quarter last year.
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Income Statement | Q4 FY23 | Q4 FY22 |
---|---|---|
Net Sales ($mil) | 468.26 | 457.17 |
EBITDA ($mil) | 0.0 | 0.0 |
EBIT ($mil) | 163.65 | 157.74 |
Net Income ($mil) | 139.65 | -49.78 |
Balance Sheet | Q4 FY23 | Q4 FY22 |
---|---|---|
Cash & Equiv. ($mil) | 783.76 | 149.83 |
Total Assets ($mil) | 18274.02 | 17826.12 |
Total Debt ($mil) | 7751.21 | 7293.59 |
Equity ($mil) | 9525.47 | 9515.51 |
Profitability | Q4 FY23 | Q4 FY22 |
---|---|---|
Gross Profit Margin | 42.56 | 41.49 |
EBITDA Margin | 0.0 | 0.0 |
Operating Margin | 34.95 | 34.5 |
Sales Turnover | 0.1 | 0.1 |
Return on Assets | 3.58 | 0.7 |
Return on Equity | 6.61 | 1.06 |
Debt | Q4 FY23 | Q4 FY22 |
---|---|---|
Current Ratio | 0.0 | 0.0 |
Debt/Capital | 0.45 | 0.43 |
Interest Expense | 68.41 | 61.17 |
Interest Coverage | 2.39 | 2.58 |
Share Data | Q4 FY23 | Q4 FY22 |
---|---|---|
Shares outstanding (mil) | 619.87 | 618.48 |
Div / share | 0.33 | 0.23 |
EPS | 0.22 | -0.09 |
Book value / share | 15.37 | 15.39 |
Institutional Own % | n/a | n/a |
Avg Daily Volume | 6068825.0 | 5141156.0 |
BUY. The current P/E ratio indicates a significant discount compared to an average of 49.19 for the Real Estate subsector and a discount compared to the S&P 500 average of 27.95. For additional comparison, its price-to-book ratio of 1.22 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 the S&P 500 average, but well below the subsector average. Upon assessment of these and other key valuation criteria, KIMCO REALTY CORP proves to trade at a discount to investment alternatives.
Price/Earnings |
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Price/Cash Flow |
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KIM 18.43 | Peers 49.19 | KIM 10.87 | Peers 18.58 | |||||||||||||||||||||
Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations. KIM is trading at a significant 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. KIM is trading at a significant discount to its peers. |
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Price/Projected Earnings |
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Price to Earnings/Growth |
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KIM 23.80 | Peers 40.04 | KIM NM | Peers 5.86 | |||||||||||||||||||||
Discount. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth expectations. KIM is trading at a significant discount to 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. KIM'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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KIM 1.22 | Peers 6.43 | KIM 580.00 | 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. KIM 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. KIM 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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KIM 6.24 | Peers 7.79 | KIM 0.63 | Peers 11.68 | |||||||||||||||||||||
Discount. 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. KIM is trading at a discount to its subsector on this measurement. |
Lower. A sales growth rate that trails the subsector implies that a company is losing market share. KIM significantly trails its peers on the basis of sales growth. |
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