Spirit Realty Capital, Inc.
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SPIRIT REALTY CAPITAL INC's gross profit margin for the third quarter of its fiscal year 2020 has significantly decreased when compared to the same period a year ago. Sales and net income fell significantly; although net income growth outperformed the average competitor in its subsector, revenue growth did not.
During the same period, stockholders' equity ("net worth") has remained unchanged from the same quarter last year.
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Income Statement | Q3 FY20 | Q3 FY19 |
---|---|---|
Net Sales ($mil) | 113.74 | 166.95 |
EBITDA ($mil) | 0.0 | 0.0 |
EBIT ($mil) | 37.59 | 99.64 |
Net Income ($mil) | 13.8 | 81.29 |
Balance Sheet | Q3 FY20 | Q3 FY19 |
---|---|---|
Cash & Equiv. ($mil) | 129.49 | 369.67 |
Total Assets ($mil) | 6091.42 | 5663.58 |
Total Debt ($mil) | 2512.22 | 2085.18 |
Equity ($mil) | 3332.18 | 3332.78 |
Profitability | Q3 FY20 | Q3 FY19 |
---|---|---|
Gross Profit Margin | 42.57 | 67.51 |
EBITDA Margin | 0.0 | 0.0 |
Operating Margin | 33.05 | 59.69 |
Sales Turnover | 0.08 | 0.09 |
Return on Assets | 0.03 | 3.96 |
Return on Equity | -0.24 | 6.45 |
Debt | Q3 FY20 | Q3 FY19 |
---|---|---|
Current Ratio | 0.0 | 0.0 |
Debt/Capital | 0.43 | 0.38 |
Interest Expense | 26.4 | 24.68 |
Interest Coverage | 1.42 | 4.04 |
Share Data | Q3 FY20 | Q3 FY19 |
---|---|---|
Shares outstanding (mil) | 105.89 | 99.73 |
Div / share | 0.63 | 0.63 |
EPS | 0.11 | 0.87 |
Book value / share | 31.47 | 33.42 |
Institutional Own % | n/a | n/a |
Avg Daily Volume | 910685.0 | 601625.0 |
HOLD. This stock’s P/E ratio is negative, making its value useless in the assessment of premium or discount valuation, only displaying that the company has negative earnings per share. For additional comparison, its price-to-book ratio of 1.26 indicates a significant discount versus the S&P 500 average of 4.08 and a significant discount versus the subsector average of 5.63. The price-to-sales ratio is well above the S&P 500 average, but well below the subsector average. After reviewing these and other key valuation criteria, SPIRIT REALTY CAPITAL INC proves to trade at a discount to investment alternatives.
Price/Earnings |
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Price/Cash Flow |
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SRC NM | Peers 58.24 | SRC 20.33 | Peers 28.36 | |||||||||||||||||||||
Neutral. The absence of a valid P/E ratio happens when a stock can not be valued on the basis of a negative stream of earnings. SRC's P/E is negative making this valuation measure meaningless. |
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. SRC 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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SRC 48.96 | Peers 88.51 | SRC NA | Peers 91.44 | |||||||||||||||||||||
Premium. A higher price-to-projected earnings ratio than its peers can signify a more expensive stock or higher future growth expectations. SRC is trading at a significant premium 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. Ratio not available. |
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Price/Book |
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Earnings Growth |
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SRC 1.26 | Peers 5.63 | SRC -103.26 | Peers 1.60 | |||||||||||||||||||||
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. SRC is trading at a significant discount to its peers. |
Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios. However, SRC is expected to significantly trail its peers on the basis of its earnings growth rate. |
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Price/Sales |
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Sales Growth |
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SRC 8.82 | Peers 9.88 | SRC -5.85 | Peers 5.17 | |||||||||||||||||||||
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. SRC 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. SRC significantly trails its peers on the basis of sales growth. |
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