CBL & Associates Properties, Inc. (CBL) vs Four Corners Property Trust, Inc. (FCPT)

CBL & Associates Properties, Inc. and Four Corners Property Trust, Inc. are both Reit Retail companies. Four Corners Property Trust, Inc. is the larger, with a market value of $2.4B against $1.6B — 1.5× the size. CBL & Associates Properties, Inc. trades at the lower P/E: 7.4× against 20.0×. Four Corners Property Trust, Inc. grew revenue faster over the last twelve months: 9.65% against 9.03%. Four Corners Property Trust, Inc. has the higher net margin (38.7% vs 36.4%) and the lower return on invested capital (3.74% vs 45.5%). Both pay a dividend; CBL & Associates Properties, Inc. yields more (6.42% vs 5.95%). Across the 23 metrics below, CBL & Associates Properties, Inc. leads on 12 and Four Corners Property Trust, Inc. on 11.

Valuation

Metric CBL FCPT Reit Retail median
P/E 7.37 20.00 24.82
P/S 2.67 7.93 6.69
P/B 3.72 1.50 1.75
Price to free cash flow 13.29 9.69 13.29
EV/EBITDA 3.86 15.42 15.42
EV/Sales 2.32 11.94 10.60
Earnings yield 13.56% 5.00% 3.91%
Free cash flow yield 7.53% 10.32% 2.98%

Profitability

Metric CBL FCPT Reit Retail median
Gross margin 65.04% 85.60% 71.78%
Operating margin 27.20% 55.70% 34.62%
Net margin 36.36% 38.70% 27.14%
Free cash flow margin 20.07% 63.57% 18.82%
Return on equity 61.12% 7.64% 7.05%
Return on assets 8.16% 4.12% 3.40%
Return on invested capital 45.53% 3.74% 3.18%

Growth

Metric CBL FCPT Reit Retail median
Revenue growth (TTM) 9.03% 9.65% 8.49%
EPS growth (last fiscal year) 132.09% 1.87% —
Revenue growth, 5-year CAGR 0.09% 11.46% 8.62%
Net income growth, 5-year CAGR 0.00% 7.76% 1.85%

Health

Metric CBL FCPT Reit Retail median
Debt to equity 0.00 0.77 0.94
Current ratio 0.11 0.14 1.62
Net debt to EBITDA (0.44) 5.26 5.40

Dividend

Metric CBL FCPT Reit Retail median
Dividend yield 6.42% 5.95% 4.57%
Payout ratio 0.00 1.22 1.21

Size

Metric CBL FCPT Reit Retail median
Market cap 1.62b 2.43b 3.65b

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