Tanger Factory Outlet Centers Inc

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SKT : NYSE : Financial
$25.15 -0.55 | -2.1%
Today's Range: 25.125 - 25.57
Avg. Daily Volume: 1837900.0
06/23/17 - 1:54 PM ET

Financial Analysis


TANGER FACTORY OUTLET CTRS's gross profit margin for the first 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 increased by 13.52% from the same quarter last year.

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Income Statement Q1 FY17 Q1 FY16
Net Sales ($mil)123.72114.62
EBITDA ($mil)0.00.0
EBIT ($mil)40.038.61
Net Income ($mil)22.3427.15


Balance Sheet Q1 FY17 Q1 FY16
Cash & Equiv. ($mil)7.2318.88
Total Assets ($mil)2539.772190.61
Total Debt ($mil)1699.461475.67
Equity ($mil)663.27584.27


Profitability Q1 FY17 Q1 FY16
Gross Profit Margin41.5643.78
EBITDA Margin0.00.0
Operating Margin32.3333.69
Sales Turnover0.190.21
Return on Assets7.439.3
Return on Equity28.4834.88
Debt Q1 FY17 Q1 FY16
Current Ratio0.00.0
Debt/Capital0.720.72
Interest Expense16.9815.37
Interest Coverage2.362.51


Share Data Q1 FY17 Q1 FY16
Shares outstanding (mil)96.4696.13
Div / share0.330.29
EPS0.230.28
Book value / share6.886.08
Institutional Own % n/a n/a
Avg Daily Volume1746444.0709053.0

Valuation


HOLD. TANGER FACTORY OUTLET CTRS's P/E ratio indicates a significant discount compared to an average of 53.18 for the Equity Real Estate Investment Trusts REITs industry and a significant discount compared to the S&P 500 average of 25.73. For additional comparison, its price-to-book ratio of 3.90 indicates a premium versus the S&P 500 average of 3.08 and a premium versus the industry average of 3.68. 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 13.67 Peers 53.18   SKT 10.65 Peers 19.75

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 24.35 Peers 56.68   SKT NM Peers 6.70

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 3.90 Peers 3.68   SKT -7.99 Peers 34.35

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 5.31 Peers 8.23   SKT 6.60 Peers 10.01

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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