Tanger Factory Outlet Centers Inc

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SKT : NYSE : Financial
$31.42 -0.8975 | -2.78%
Today's Range: 31.4 - 32.4
Avg. Daily Volume: 908400.0
04/26/17 - 4:02 PM ET

Financial Analysis


TANGER FACTORY OUTLET CTRS's gross profit margin for the fourth quarter of its fiscal year 2016 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 increased by 16.53% from the same quarter last year.

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Income Statement Q4 FY16 Q4 FY15
Net Sales ($mil)128.4116.05
EBITDA ($mil)0.00.0
EBIT ($mil)42.1141.54
Net Income ($mil)24.07108.13


Balance Sheet Q4 FY16 Q4 FY15
Cash & Equiv. ($mil)12.22142.86
Total Assets ($mil)2526.212326.71
Total Debt ($mil)1687.871563.81
Equity ($mil)670.22575.14


Profitability Q4 FY16 Q4 FY15
Gross Profit Margin41.6144.44
EBITDA Margin0.00.0
Operating Margin32.7935.79
Sales Turnover0.190.19
Return on Assets7.669.07
Return on Equity28.936.72
Debt Q4 FY16 Q4 FY15
Current Ratio0.00.0
Debt/Capital0.720.73
Interest Expense16.4714.08
Interest Coverage2.562.95


Share Data Q4 FY16 Q4 FY15
Shares outstanding (mil)96.195.88
Div / share0.330.5
EPS0.251.13
Book value / share6.976.0
Institutional Own % n/a n/a
Avg Daily Volume908900.0665039.0

Valuation


HOLD. The current P/E ratio indicates a significant discount compared to an average of 56.87 for the Equity Real Estate Investment Trusts REITs industry and a discount compared to the S&P 500 average of 24.92. Conducting a second comparison, its price-to-book ratio of 4.79 indicates a significant premium versus the S&P 500 average of 2.99 and a premium versus the industry average of 3.77. The price-to-sales ratio is well above the S&P 500 average, but well 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 16.61 Peers 56.87   SKT 13.41 Peers 18.71

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 30.63 Peers 89.27   SKT NM Peers 4.18

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 4.79 Peers 3.77   SKT -9.05 Peers 34.22

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.

 

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 6.72 Peers 8.18   SKT 5.97 Peers 10.96

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 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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