Spirit Realty Capital, Inc.

NYSE:SRC Stock Report

Market Cap: US$6.0b

Spirit Realty Capital Past Earnings Performance

Past criteria checks 1/6

Spirit Realty Capital has been growing earnings at an average annual rate of 20.6%, while the Retail REITs industry saw earnings growing at 8.5% annually. Revenues have been growing at an average rate of 12.4% per year. Spirit Realty Capital's return on equity is 5.8%, and it has net margins of 32.9%.

Key information

20.6%

Earnings growth rate

6.8%

EPS growth rate

Retail REITs Industry Growth8.5%
Revenue growth rate12.4%
Return on equity5.8%
Net Margin32.9%
Last Earnings Update30 Sep 2023

Recent past performance updates

Recent updates

REIT Merger Standoff: Spirit Realty The Clear Winner With A Low Risk Potential 18.5% Return

Nov 01

Spirit Is Anything But Spooky

Oct 17

Spirit Realty Capital: A Solid Prospect For Value-Oriented, Yield-Seeking Investors

Sep 19

Pounce On Spirit Realty Before Realty Income Does

Aug 26

Nothing Spooky About Spirit

Jun 30

Spirit Realty: I'd Rather Chase High Yield

May 31

Spirit Realty Capital declares $0.663 dividend

Feb 23

Spirit Realty: The 6% Yield Is Growing

Feb 16

Spirit Realty Capital declares $0.663 dividend

Jan 24

Like Passive Income? Buy Spirit Realty Capital's 6.6% Yield

Jan 09

Spirit Realty Capital, NETSTREIT stocks downgraded to Neutral at BofA

Nov 14

Spirit Realty: At These Yields Don't Look Away

Oct 30

Spirit Realty: A Super 7% Yield To Turn Up The Cash Flow

Sep 26

Spirit Realty Capital announces $800M term loan facility

Aug 22

Spirit Realty Capital: Spirit-Lifting Dividends And Upside Potential

May 13

Spirit Realty Capital: Buy This 5.6% Yielding Recession-Resistant Trust

Apr 18

Spirit Realty: My Oh My, Another Strong Buy

Apr 10

Spirit Realty Capital: Dirt Cheap And Higher Quality Than The Market Thinks

Feb 06

Now Yielding 5.4%, Spirit Realty Capital Is Unfairly Maligned By The Market

Nov 24

Spirit Realty Pays You A 5.2% Yield, And Is No Longer Spooky

Sep 11

Spirit Realty Capital: Now Is The Best Time To Own Consumer Discretionary Real Estate

Jun 28

Spirit Realty Capital: Not Bad, But Not Great Either

May 04

Revenue & Expenses Breakdown

How Spirit Realty Capital makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NYSE:SRC Revenue, expenses and earnings (USD Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
30 Sep 23754248600
30 Jun 23744286600
31 Mar 23730315590
31 Dec 22710275570
30 Sep 22682249550
30 Jun 22652213540
31 Mar 22642218540
31 Dec 21608161520
30 Sep 21580146500
30 Jun 21541118480
31 Mar 2149530460
31 Dec 2048216470
30 Sep 20544-9480
30 Jun 2054359500
31 Mar 20533105530
31 Dec 19501164520
30 Sep 19444214510
30 Jun 19435164490
31 Mar 19427143530
31 Dec 18426137530
30 Sep 18414119480
30 Jun 1841997500
31 Mar 1842779430
31 Dec 1742637550
30 Sep 174924480
30 Jun 1755124480
31 Mar 1760967500
31 Dec 1642628450
30 Sep 16668102460
30 Jun 1666790450
31 Mar 1666693450
31 Dec 1566092480
30 Sep 15647117470
30 Jun 15633110460
31 Mar 15616-30440
31 Dec 14598-42430
30 Sep 14582-66410
30 Jun 14567-97410
31 Mar 14491-17390
31 Dec 13418-34350
30 Sep 13348-41280
30 Jun 13275-71390
31 Mar 13274-68330

Quality Earnings: SRC has a large one-off gain of $63.2M impacting its last 12 months of financial results to 30th September, 2023.

Growing Profit Margin: SRC's current net profit margins (32.9%) are lower than last year (36.5%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: SRC's earnings have grown significantly by 20.6% per year over the past 5 years.

Accelerating Growth: SRC's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: SRC had negative earnings growth (-0.4%) over the past year, making it difficult to compare to the Retail REITs industry average (2.7%).

Return on Equity

High ROE: SRC's Return on Equity (5.8%) is considered low.

Return on Assets

Return on Capital Employed

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/01/23 21:27
End of Day Share Price 2024/01/22 00:00
Earnings2023/09/30
Annual Earnings2022/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Spirit Realty Capital, Inc. is covered by 21 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Nathan CrossettBerenberg
Joshua DennerleinBofA Global Research
David CorakB. Riley Securities, Inc.