BFS

Saul Centers, Inc.

$35.25

0.69

(2%)

Exchange:	NYSE
Market Cap:	853.6M
Shares Outstanding:	11.111M

Overview

Earnings

Financials

Valuation

Chart

About The Company

Saul Centers, Inc. is a self-managed, self-administered equity REIT headquartered in Bethesda, Maryland, which currently operates and manages a real estate portfolio of 60 properties which includes (a) 50 community and neighborhood shopping centers and seven mixed-use properties with approximately 9.8 million square feet of leasable area and (b) three land and development properties. Approximately 85% of the Saul Centers’ property operating income is generated by properties in the metropolitan Washington, DC/Baltimore area.

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Revenue Segmentation

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EPS

View full analyst estimates

Earnings Call

No transcript or summary available for this symbol.

Income Statement

Balance Sheet

Cash Flow Statement

Analyst Estimates

Income Statement

(* All numbers are in thousands)

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
? Revenue	209,077	217,070	227,285	227,904	231,525	225,207	239,225	245,860	257,207	268,847
? Cost Of Revenue	50,228	52,207	54,686	55,578	57,933	58,417	61,628	64,522	67,139	30,342
? Gross Profit	158,849	164,863	172,599	172,326	173,592	166,790	177,597	181,338	190,068	238,505
? Research And Development Expenses	0	0.270	0.280	0.080	0.090	0.220	0.260	0.270	0	0
? General And Administrative Expenses	16,353	17,496	18,176	18,459	20,793	19,107	20,252	22,392	23,459	25,066
? Selling And Marketing Expenses	0	0	0	0	0	0	0	0	0	0
? Operating Expenses	17,268	18,990	19,082	18,872	20,793	70,233	20,252	22,392	23,459	25,066
? Net Interest Income	0	0	0	0	0	0	0	0	0	0
? Interest Income	0	0	80	272	248	140	7	76	295	0
? Interest Expense	45,165	45,683	47,225	45,040	41,834	45,089	45,424	43,937	49,153	53,696
? Depreciation And Amortization	43,270	160,179	164,440	120,586	126,721	133,862	131,564	135,795	48,430	50,502
? EBITDA	96,200	100,130	106,292	217,502	229,078	146,253	107,073	109,977	166,609	169,707
? EBIT
? Operating Income	52,930	55,713	60,598	62,553	64,196	95,127	107,073	65,392	166,609	213,439
? Income Before Tax	52,931	56,720	60,668	63,059	64,196	50,316	61,649	65,392	69,026	50,649
? Income Tax Expense	-32,592	-33,923	-33,353	-33,862	7,974	55,023	58,684	-28,739	0	0
? Net Income From Continuing Operations
? Net Income	42,468	45,279	48,257	50,554	51,723	-4,707	2,965	94,131	52,689	50,649
? EPS (Earnings Per Share)	1.420	1.530	1.640	2.260	2.250	-0.200	0.130	3.930	1.240	2.560
? EPS Diluted	1.420	1.520	1.630	2.250	2.240	-0.200	0.130	3.930	1.730	2.560
? Weighted Average Shares Outstanding	21,127	21,505	21,901	22,383	23,009	23,356	23,655	23,964	33,474	24,112
? Weighted Average Shares Outstanding Diluted	21,196	21,615	22,008	22,425	23,053	23,357	23,662	23,972	24,053	24,142
	USD	USD	USD	USD	USD	USD	USD	USD	USD	USD

Balance Sheet

(* All numbers are in thousands)

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
? Cash And Cash Equivalents	10,003	8,322	10,908	14,578	13,905	26,856	14,594	13,279	8,407	10,299
? Short Term Investments	0	0	0	0	0	0	0	3,962	2,742	0
? Cash And Short Term Investments	10,003	8,322	10,908	14,578	13,905	26,856	14,594	13,279	8,407	10,299
? Net Receivables	51,076	53,033	54,057	53,876	52,311	64,917	58,659	56,323	56,032	50,949
? Accounts Receivables
? Inventory	1	2	1	1	72,179	0	0	-3,962	0	0
? Total Current Assets	65,742	66,412	70,213	73,629	71,579	97,416	73,253	69,602	64,439	61,248
? Property Plant Equipment Net	1,197,340	1,242,534	1,315,034	1,422,647	1,600	900	100	3,200	2,500	0
? Goodwill	0	0	0	0	0	0	0	0	0	0
? Intangible Assets	1.800	2,400	0	656.100	491.700	471.100	438.200	405.200	372.300	0
? Long Term Investments	0	-2,587,959	0	-2,950,792.100	-1,618,340	-1,645,572	-1,746,761	3,962	0	0
? Total Non Current Assets	1,238,403	1,276,613	1,352,239	1,453,860	1,546,761	1,548,156	1,673,508	1,763,700	1,927,328.300	2,065,156
? Total Assets	1,304,145	1,343,025	1,422,452	1,527,489	1,618,340	1,645,572	1,746,761	1,833,302	1,994,137	2,126,404
? Account Payables	27,687	20,838	23,123	32,419	35,199	24,384	25,558	42,978	50,022	46,162
? Short Term Debt	24,655	0	0	0	0	0	0	0	274,715	186,489
? Deferred Revenue	32,109	30,696	29,084	28,851	29,306	23,293	25,188	23,169	0	23,033
? Total Current Liabilities	71,067	87,008	102,377	96,901	140,861	147,745	150,397	227,372	354,674	1,070,865
? Long Term Debt	839,810	900,289	947,009	1,021,846	1,091,188	1,150,914	1,143,856	1,222,900	1,119,586	0
? Deferred Revenue Non Current	32,109	30,696	29,084	28,851	29,306	23,293	25,188	23,169	0	23,033
? Deferred Tax Liabilities Non Current	-116,275	-155,680	-102,377	-193,147	-324,175	-367,143	-249,630	-326,754	0	0
? Total Non Current Liabilities	879,351	882,768	926,972	1,005,368	1,034,123	1,070,294	1,065,877	1,084,128	1,135,034	554,415
? Total Liabilities	950,418	969,776	1,029,349	1,102,269	1,174,984	1,218,039	1,216,274	1,311,500	1,489,708	1,625,280
? Treasury Stock
? Preferred Stock	180,000	180,000	180,000	180,000	185,000	185,000	185,000	185,000	185,000	0
? Common Stock	213	217	221	227	232	235	238	240	241	243
? Retained Earnings	-181,893	-189,883	-198,406	-208,848	-221,177	-241,535	-256,448	-273,559	-288,825	0
? Additional Paid In Capital
? Total Stockholders Equity	303,328	318,505	334,405	355,912	374,981	364,325	405,049	400,484	348,389	335,754
? Total Equity	353,727	373,249	393,103	425,220	443,356	427,533	530,487	521,802	504,429	501,124
? Minority Interest	50,399	54,744	58,698	69,308	68,375	63,208	125,438	121,318	156,040	165,370
? Total Liabilities And Total Equity	1,304,145	1,343,025	1,422,452	1,527,489	1,618,340	1,645,572	1,746,761	1,833,302	1,994,137	2,126,404
? Total Investments	0	-2,587,959	0	-2,950,792.100	-1,618,340	-1,645,572	-1,746,761	3,962	2,742	2,024,305
? Total Debt	875,242	900,289	958,622	1,021,846	1,091,188	1,150,914	1,143,856	1,222,900	1,387,001	1,047,832
? Net Debt	865,239	891,967	947,714	1,007,268	1,077,283	1,124,058	1,129,262	1,209,621	1,378,594	1,037,533
	USD	USD	USD	USD	USD	USD	USD	USD	USD	USD

Cash Flow Statement

(* All numbers are in thousands)

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
? Net Income	52,931	56,720	60,668	63,059	64,196	50,316	61,649	65,392	52,689	67,703
? Depreciation And Amortization	43,270	44,417	45,694	45,861	46,333	51,126	50,272	48,969	48,430	50,502
? Deferred Income Tax	-42,356	-43,930	-44,858	-45,682	-44,671	-51,126	-50,272	0	0	0
? Stock Based Compensation	1,434	1,603	1,672	1,766	1,859	1,438	1,562	1,521	1,421	1,723
? Change In Working Capital	-5,523	-10,847	-2,197	3,898	1,658	-22,951	4,190	5,440	1,673	0
? Accounts Receivables	-5,207	-3,516	-1,643	-336	339	-17,818	5,446	2,424	-243	4,224
? Inventory	965	-6,776	1,080	3,754	-339	17,818	-5,446	0	0	0
? Accounts Payables	-937	921	1,125	225	158	875	-331	524	1,884	-691
? Net Cash Provided By Operating Activities	88,896	89,090	103,450	110,339	115,383	78,383	118,381	121,151	117,727	121,224
? Investments In Property Plant And Equipment	0	0	0	0	0	56,168	0	19,006	0	0
? Acquisitions Net	-45,870	-27,231	-22,842	-76,257	-113,772	-37,060	-28,225	-101,107	-177,485	0
? Purchases Of Investments	-69,619	-91,045	-119,994	-129,976	-135,663	-56,544	-55,872	-116,888	0	0
? Sales Maturities Of Investments	32	4,771	6,688	1,326	0	376	0	116,888	0	0
? Net Cash Provided By Investing Activities	0	0	0	0	0	0	0	0	0	0
? Net Debt Issuance	0	0	0	0	0	0	0	0	0	0
? Long Term Net Debt Issuance	0	0	0	0	0	0	0	0	0	0
? Short Term Net Debt Issuance	0	0	0	0	0	0	0	0	0	0
? Net Stock Issuance	0	0	0	0	0	0	0	0	0	0
? Net Dividends Paid	-48,020	-51,847	-56,951	-58,708	-60,958	-60,577	-62,156	-66,717	-67,916	-68,088
? Common Dividends Paid
? Preferred Dividends Paid	0	0	0	0	0	0	0	0	0	0
? Net Cash Provided By Financing Activities	-21,434	-4,497	12,442	21,981	19,607	-9,264	-74,771	-5,578	81,082	69,400
? Effect Of Forex Changes On Cash	0	0	0	0	0	0	0	0	0	0
? Net Change In Cash	-2,125	-1,681	2,586	3,670	-673	12,951	-12,262	-1,315	-4,872	1,892
? Cash At End Of Period	10,003	8,322	10,908	14,578	13,905	26,856	14,594	13,279	8,407	10,299
? Cash At Beginning Of Period	12,128	10,003	8,322	10,908	14,578	13,905	26,856	14,594	13,279	8,407
? Operating Cash Flow	88,896	89,090	103,450	110,339	115,383	78,383	118,381	121,151	117,727	121,224
? Capital Expenditure	0	0	0	0	0	56,168	0	19,006	0	0
? Free Cash Flow	88,896	89,090	103,450	110,339	115,383	134,551	118,381	140,157	117,727	121,224
	USD	USD	USD	USD	USD	USD	USD	USD	USD	USD

Analyst Estimates

(* All numbers are in thousands)

Fiscal Year	2022	2023	2024	2025	2026
Estimated Revenue (Low)	241,882	246,731	269,866	286,879	306,341
Estimated Revenue (High)	241,882	253,714.999	269,866	286,879	306,341
Estimated Revenue (Avg)	241,882	250,223	269,866	286,879	306,341
Estimated Ebitda (Low)	94,448.413	103,893.252	152,383.432	161,990.049	172,979.527
Estimated Ebitda (High)	141,672.622	155,839.882	152,383.432	161,990.049	172,979.527
Estimated Ebitda (Avg)	118,060.518	129,866.568	152,383.432	161,990.049	172,979.527
Estimated Net Income (Low)	40,764.829	33,195.999	41,282.821	34,040.221	31,384.601
Estimated Net Income (High)	61,147.243	49,794	41,282.821	34,040.221	31,384.601
Estimated Net Income (Avg)	50,956.037	41,495	41,282.821	34,040.221	31,384.601
Estimated SGA Expense (Low)	14,551.130	16,006.241	24,018.978	25,533.192	27,265.375
Estimated SGA Expense (High)	21,826.698	24,009.366	24,018.978	25,533.192	27,265.375
Estimated SGA Expense (Avg)	18,188.914	20,007.804	24,018.978	25,533.192	27,265.375
Estimated EPS (Avg)	2.670	1.730	1.710	1.410	1.300
Estimated EPS (High)	3.190	1.730	1.710	1.410	1.300
Estimated EPS (Low)	2.140	1.730	1.710	1.410	1.300
Number of Analysts (Estimated Revenue)	1	1	1	1	1
Number of Analysts (Estimated EPS)	9	1	1	1	1

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Current Key Metrics

?	Revenue (TTM) :	269.707M	?	P/S (TTM) :	3.05
?	Net Income (TTM) :	50.649M	?	P/E (TTM) :	17.84
?	Enterprise Value (TTM) :	2.375B	?	EV/FCF (TTM) :	20.17
?	Dividend Yield (TTM) :	0.07	?	Payout Ratio (TTM) :	1.82
?	ROE (TTM) :	0.14	?	ROIC (TTM) :	0.06
?	Net Debt (TTM) :	1.528B	?	Debt/Equity (TTM) :	4.7
?	P/B (TTM) :	2.54	?	Current Ratio (TTM) :	0.21

Forward P/E Ratios

?

Forward P/E calculated based on:

Forward P/E 1Y	Forward P/E 2Y	Forward P/E 3Y	Forward P/E 4Y	Forward P/E 5Y
13.20	20.38	20.61	25.00	27.12

SWOT Analysis

No SWOT analysis available for this stock.

BFS

2

1.97

8.1

-1.51

-8.58

-3.9

9.44

Trading Metrics:

Open:	34.51	Previous Close:	34.56
Day Low:	34.51	Day High:	35.37
Year Low:	31.25	Year High:	42.39
Price Avg 50:	33.52	Price Avg 200:	37.3
Volume:	38962	Average Volume:	52860

BFS

Saul Centers, Inc.

About The Company

Revenue Segmentation

EPS

Earnings Call

Income Statement

Balance Sheet

Cash Flow Statement

Analyst Estimates

Current Key Metrics

Forward P/E Ratios

SWOT Analysis

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