Cousins Properties Incorporated (CUZ) vs SL Green Realty Corporation (SLG)

Cousins Properties Incorporated and SL Green Realty Corporation are both Reit Office companies. Cousins Properties Incorporated is the larger, with a market value of $4.7B against $3.9B — 1.2× the size. SL Green Realty Corporation has negative trailing earnings, so its P/E is not meaningful; Cousins Properties Incorporated trades at 716×. Cousins Properties Incorporated grew revenue faster over the last twelve months: 11.9% against 8.46%. Cousins Properties Incorporated has the higher net margin (0.62% vs −18.4%) and the higher return on invested capital (1.80% vs 0.34%). Both pay a dividend; SL Green Realty Corporation yields more (6.74% vs 5.65%). Across the 21 metrics below, Cousins Properties Incorporated leads on 15 and SL Green Realty Corporation on 6.

Valuation

Metric CUZ SLG Reit Office median
P/E 716.25 n/m 38.94
P/S 4.56 3.47 2.92
P/B 1.05 0.86 0.78
Price to free cash flow n/m n/m 14.22
EV/EBITDA 12.65 23.66 12.77
EV/Sales 8.15 7.36 7.03
Earnings yield 0.14% (5.33%) (3.43%)
Free cash flow yield (0.95%) (10.90%) 5.85%

Profitability

Metric CUZ SLG Reit Office median
Gross margin 68.08% 46.91% 60.53%
Operating margin 22.83% 4.47% 16.84%
Net margin 0.62% (18.35%) (8.23%)
Free cash flow margin (4.34%) (37.83%) 16.39%
Return on equity 0.14% (4.67%) (2.66%)
Return on assets 0.07% (1.65%) (0.95%)
Return on invested capital 1.80% 0.34% 1.32%

Growth

Metric CUZ SLG Reit Office median
Revenue growth (TTM) 11.89% 8.46% 1.08%
EPS growth (last fiscal year) (20.00%) (2,112.50%) —
Revenue growth, 5-year CAGR 6.07% (0.96%) 4.37%
Net income growth, 5-year CAGR (29.78%) 0.00% 0.00%

Health

Metric CUZ SLG Reit Office median
Debt to equity 0.83 1.00 1.20
Current ratio 1.01 3.10 2.43
Net debt to EBITDA 5.17 9.87 6.91

Dividend

Metric CUZ SLG Reit Office median
Dividend yield 5.65% 6.74% 6.16%
Payout ratio 1.31 0.87 1.38

Size

Metric CUZ SLG Reit Office median
Market cap 4.69b 3.89b 1.39b

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