Tanger Factory Outlet Centers Inc

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SKT : NYSE : Financial
$24.15 up 0.35 | 1.47%
Today's Range: 23.66 - 24.41
Avg. Daily Volume: 2089700.0
08/23/17 - 4:03 PM ET

Financial Analysis


TANGER FACTORY OUTLET CTRS's gross profit margin for the second quarter of its fiscal year 2017 has decreased when compared to the same period a year ago. Even though sales increased, the net income has decreased, representing a decrease to the bottom line.

During the same period, stockholders' equity ("net worth") has remained unchanged from the same quarter last year.

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Income Statement Q2 FY17 Q2 FY16
Net Sales ($mil)122.05114.84
EBITDA ($mil)0.00.0
EBIT ($mil)40.5241.84
Net Income ($mil)29.3973.42


Balance Sheet Q2 FY17 Q2 FY16
Cash & Equiv. ($mil)8.3627.11
Total Assets ($mil)2529.492379.35
Total Debt ($mil)1729.01602.85
Equity ($mil)627.73627.26


Profitability Q2 FY17 Q2 FY16
Gross Profit Margin42.6346.6
EBITDA Margin0.00.0
Operating Margin33.236.44
Sales Turnover0.20.19
Return on Assets5.7210.62
Return on Equity23.0840.29
Debt Q2 FY17 Q2 FY16
Current Ratio0.00.0
Debt/Capital0.730.72
Interest Expense17.2114.43
Interest Coverage2.352.9


Share Data Q2 FY17 Q2 FY16
Shares outstanding (mil)94.9696.05
Div / share0.340.33
EPS0.310.76
Book value / share6.616.53
Institutional Own % n/a n/a
Avg Daily Volume2097753.01393328.0

Valuation


HOLD. The current P/E ratio indicates a significant discount compared to an average of 59.76 for the Equity Real Estate Investment Trusts REITs industry and a discount compared to the S&P 500 average of 24.23. To use another comparison, its price-to-book ratio of 3.68 indicates a premium versus the S&P 500 average of 3.02 and a discount versus the industry average of 3.83. The price-to-sales ratio is well above the S&P 500 average, but well below the industry average. Upon assessment of these and other key valuation criteria, TANGER FACTORY OUTLET CTRS proves to trade at a discount to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
SKT 16.11 Peers 59.76   SKT 9.49 Peers 18.88

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

SKT 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.

SKT is trading at a significant discount to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
SKT 23.16 Peers 54.49   SKT NM Peers 4.09

Discount. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth expectations.

SKT 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.

SKT's negative PEG ratio makes this valuation measure meaningless.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
SKT 3.68 Peers 3.83   SKT -42.59 Peers 77.93

Average. 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.

SKT is trading at a valuation on par with its peers.

 

Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

However, SKT is expected to significantly trail its peers on the basis of its earnings growth rate.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
SKT 4.67 Peers 8.12   SKT 6.88 Peers 12.26

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.

SKT is trading at a significant discount to its industry on this measurement.

 

Lower. A sales growth rate that trails the industry implies that a company is losing market share.

SKT significantly trails its peers on the basis of sales growth

 

 

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