Tanger Factory Outlet Centers Inc

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SKT : NYSE : Financial
$41.74 | %
Today's Range: 41.40 - 41.85
Avg. Daily Volume: 757,500
07/29/16 - 4:02 PM ET

Financial Analysis


TANGER FACTORY OUTLET CTRS's gross profit margin for the second quarter of its fiscal year 2016 is essentially unchanged when compared to the same period a year ago. The company has grown its sales and net income during the past quarter when compared with the same quarter a year ago, and although its growth in net income has outpaced the industry average, its revenue growth has not.

During the same period, stockholders' equity ("net worth") has increased by 24.42% from the same quarter last year.

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Income Statement Q2 FY16 Q2 FY15
Net Sales ($mil)114.84109.29
EBITDA ($mil)0.00.0
EBIT ($mil)41.8438.45
Net Income ($mil)73.4224.48


Balance Sheet Q2 FY16 Q2 FY15
Cash & Equiv. ($mil)27.1116.95
Total Assets ($mil)2379.352188.74
Total Debt ($mil)1602.851514.49
Equity ($mil)627.26504.13


Profitability Q2 FY16 Q2 FY15
Gross Profit Margin46.645.8
EBITDA Margin0.00.0
Operating Margin36.4435.18
Sales Turnover0.190.2
Return on Assets10.624.54
Return on Equity40.2919.74
Debt Q2 FY16 Q2 FY15
Current Ratio0.00.0
Debt/Capital0.720.75
Interest Expense13.813.09
Interest Coverage3.032.94


Share Data Q2 FY16 Q2 FY15
Shares outstanding (mil)96.0595.84
Div / share0.330.29
EPS0.760.26
Book value / share6.535.26
Institutional Own % n/a n/a
Avg Daily Volume757751.0728977.0

Valuation


HOLD. The current P/E ratio indicates a significant discount compared to an average of 50.96 for the Real Estate Investment Trusts (REITs) industry and a discount compared to the S&P 500 average of 25.10. For additional comparison, its price-to-book ratio of 6.33 indicates a significant premium versus the S&P 500 average of 2.81 and a significant premium versus the industry average of 4.08. The current price-to-sales ratio is well above the S&P 500 average, but below the industry average. The valuation analysis reveals that, TANGER FACTORY OUTLET CTRS seems to be trading 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 15.72 Peers 50.96   SKT NA Peers 24.59

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.

 

Neutral. The P/CF ratio is the stock’s price divided by the sum of the company's cash flow from operations. It is useful for comparing companies with different capital requirements or financing structures.

Ratio not available.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
SKT 36.58 Peers 56.04   SKT NM Peers 5.38

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 6.33 Peers 4.08   SKT 152.88 Peers 60.05

Premium. A higher price-to-book ratio makes a stock less attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

SKT is trading at a significant premium to its peers.

 

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

SKT is expected to have an earnings growth rate that significantly exceeds its peers.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
SKT 8.59 Peers 8.75   SKT 5.73 Peers 47.39

Average. 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 valuation on par with 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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