कंपनी का अवलोकन
CBL & Associates Properties, Inc. owns and manages a national portfolio of market-dominant properties situated within dynamic and growing communities. The company operates within the Real Estate sector, specifically classified under the REIT - Retail industry, which dictates its focus on acquiring, developing, and managing commercial real estate assets rather than manufacturing goods or providing services directly to consumers. The organization employs 408 individuals to support its extensive operations across the United States. In terms of scale, the entity holds a market capitalization of $1.32B and generated annual revenue of $578.37M over the trailing twelve months. These valuation figures indicate that the company commands a significant market presence, supported by a physical footprint comprising 88 properties totaling 55.6 million square feet across 23 states, including 56 high-quality enclosed malls.
वित्तीय स्वास्थ्य
The company reported revenue of $578.37M, net income of $133.88M, and EBITDA of $319.56M during the trailing twelve-month period. The substantial gap between the revenue figure and the net income reveals a cost structure where operating expenses, including property management and maintenance, consume a significant portion of gross receipts before arriving at the final profit. Free cash flow stands at $233.50M, a metric that signifies the company possesses substantial liquidity generated from operations after capital expenditures, providing financial flexibility to service debt or pursue opportunistic investments. The gross margin is 64.7%, which indicates a high proportion of revenue remains after deducting the cost of goods sold, typical for a retail real estate model where costs are largely fixed. The operating margin of 32.4% and profit margin of 23.5% further demonstrate the efficiency of the business model in converting revenue into operational earnings and shareholder profit respectively. On the liability side, the company holds $42.29M in cash against $2.17B in total debt, resulting in a debt-to-equity ratio of 595.27. This leverage ratio indicates that the balance sheet is highly leveraged, relying heavily on borrowed capital relative to shareholder equity. The current ratio is 0.14, a figure that suggests the company faces challenges in covering its short-term liabilities with its current assets, pointing to potential liquidity constraints in the near term. Return on Equity is 39.7%, while Return on Assets is 3.2%; these metrics reveal that management is highly effective at generating returns for shareholders from the equity invested, yet the return on the total asset base is relatively modest due to the high leverage employed.
मूल्यांकन आकलन
The trailing P/E ratio is 9.83, whereas the forward P/E is -109.44. The stark difference between these two metrics implies that the market expects earnings to be negative in the immediate future, likely due to the high debt load or recent operational adjustments, which distorts the forward-looking valuation multiple. The price-to-book ratio is 3.45, indicating that the market values the company at a significant premium over its net book value, reflecting confidence in the quality of its underlying real estate assets and brand. The price-to-sales ratio is 2.29, and the EV/EBITDA is 10.77; these alternative valuation metrics suggest that investors are willing to pay a substantial multiple for sales and earnings power relative to the industry average. The 52-week high is $42.96 and the 52-week low is $21.10. Without the current specific stock price listed in the provided facts, the precise percentage deviation from the high cannot be calculated, but the trading range demonstrates significant price volatility over the past year. The beta value is 1.44, which means the stock price is expected to be 44% more volatile than the broader market, exposing investors to higher systematic risk during periods of market fluctuation.
Growth & Income
Revenue growth year-over-year is 18.8%, and earnings growth year-over-year is 24.9%. The fact that earnings are growing faster than revenue implies that the company is improving its operational leverage, perhaps through rent increases or cost efficiencies, which amplifies profits more rapidly than top-line sales expansion. As a dividend payer, the company offers a dividend yield of 4.2% with a payout ratio of 39.2%. This payout ratio is generally considered sustainable given the company's strong net income and positive free cash flow, suggesting the company retains a majority of earnings for reinvestment while returning capital to shareholders. The high dividend yield relative to the earnings growth suggests a mature income profile, yet the negative forward P/E warrants caution regarding the sustainability of these payouts if earnings deteriorate further. Overall, the growth and income profile presents a mix of strong recent expansion and high current yield, balanced against significant leverage and negative forward earnings expectations.