CBL & Associates Properties, Inc. (CBL) vs InvenTrust Properties Corp. (IVT)

CBL & Associates Properties, Inc. and InvenTrust Properties Corp. are both Reit Retail companies. InvenTrust Properties Corp. 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 153×. InvenTrust Properties Corp. grew revenue faster over the last twelve months: 10.5% against 9.03%. CBL & Associates Properties, Inc. has the higher net margin (36.4% vs 4.80%) and the higher return on invested capital (45.5% vs 1.17%). Both pay a dividend; CBL & Associates Properties, Inc. yields more (6.42% vs 3.38%). Across the 21 metrics below, CBL & Associates Properties, Inc. leads on 15 and InvenTrust Properties Corp. on 6.

Valuation

Metric CBL IVT Reit Retail median
P/E 7.37 152.65 24.82
P/S 2.67 7.50 6.69
P/B 3.72 1.35 1.75
Price to free cash flow 13.29 n/m 13.29
EV/EBITDA 3.86 17.77 15.42
EV/Sales 2.32 10.72 10.60
Earnings yield 13.56% 0.66% 3.91%
Free cash flow yield 7.53% (18.21%) 2.98%

Profitability

Metric CBL IVT Reit Retail median
Gross margin 65.04% 72.56% 71.78%
Operating margin 27.20% 16.42% 34.62%
Net margin 36.36% 4.80% 27.14%
Free cash flow margin 20.07% (136.60%) 18.82%
Return on equity 61.12% 0.85% 7.05%
Return on assets 8.16% 0.53% 3.40%
Return on invested capital 45.53% 1.17% 3.18%

Growth

Metric CBL IVT Reit Retail median
Revenue growth (TTM) 9.03% 10.51% 8.49%
EPS growth (last fiscal year) 132.09% 647.37% —
Revenue growth, 5-year CAGR 0.09% 8.62% 8.62%
Net income growth, 5-year CAGR 0.00% 0.00% 1.85%

Health

Metric CBL IVT Reit Retail median
Debt to equity 0.00 0.62 0.94
Current ratio 0.11 1.73 1.62
Net debt to EBITDA (0.44) 4.40 5.40

Dividend

Metric CBL IVT Reit Retail median
Dividend yield 6.42% 3.38% 4.57%
Payout ratio 0.00 14.02 1.21

Size

Metric CBL IVT Reit Retail median
Market cap 1.62b 2.38b 3.65b

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