OTCPK:FBBP.F

Stock Analysis Report

Executive Summary

FIBRA Prologis is a leading owner and operator of Class-A industrial real estate in Mexico.


Snowflake Analysis

Undervalued second-rate dividend payer.

Share Price & News

How has FIBRA Prologis's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: FBBP.F has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

1.4%

FBBP.F

1.5%

US REITs

0.06%

US Market


1 Year Return

37.7%

FBBP.F

16.6%

US REITs

19.4%

US Market

Return vs Industry: FBBP.F exceeded the US REITs industry which returned 16.2% over the past year.

Return vs Market: FBBP.F exceeded the US Market which returned 20.1% over the past year.


Shareholder returns

FBBP.FIndustryMarket
7 Day1.4%1.5%0.06%
30 Day2.4%4.4%1.1%
90 Day6.0%7.5%8.9%
1 Year46.4%37.7%21.4%16.6%21.9%19.4%
3 Year87.1%62.7%39.0%21.6%48.9%39.3%
5 Yearn/a59.5%26.7%71.9%53.1%

Price Volatility Vs. Market

How volatile is FIBRA Prologis's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is FIBRA Prologis undervalued compared to its fair value and its price relative to the market?

23.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FBBP.F ($2.31) is trading below our estimate of fair value ($3.09)

Significantly Below Fair Value: FBBP.F is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: FBBP.F is good value based on its PE Ratio (12.6x) compared to the REITs industry average (37.3x).

PE vs Market: FBBP.F is good value based on its PE Ratio (12.6x) compared to the US market (18.4x).


Price to Earnings Growth Ratio

PEG Ratio: FBBP.F is poor value based on its PEG Ratio (2.1x)


Price to Book Ratio

PB vs Industry: FBBP.F is good value based on its PB Ratio (0.9x) compared to the US REITs industry average (2.1x).


Next Steps

Future Growth

How is FIBRA Prologis forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?

5.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FBBP.F's forecast earnings growth (6% per year) is above the savings rate (1.7%).

Earnings vs Market: FBBP.F's earnings (6% per year) are forecast to grow slower than the US market (14.6% per year).

High Growth Earnings: FBBP.F's earnings are forecast to grow, but not significantly.

Revenue vs Market: FBBP.F's revenue (5.5% per year) is forecast to grow slower than the US market (7.6% per year).

High Growth Revenue: FBBP.F's revenue (5.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FBBP.F's Return on Equity is forecast to be low in 3 years time (7.5%).


Next Steps

Past Performance

How has FIBRA Prologis performed over the past 5 years?

6.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FBBP.F has high quality earnings.

Growing Profit Margin: FBBP.F's current net profit margins (56.5%) are lower than last year (80.9%).


Past Earnings Growth Analysis

Earnings Trend: FBBP.F's earnings have grown by 6.1% per year over the past 5 years.

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

Earnings vs Industry: FBBP.F had negative earnings growth (-27.4%) over the past year, making it difficult to compare to the REITs industry average (6.9%).


Return on Equity

High ROE: FBBP.F's Return on Equity (7.2%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is FIBRA Prologis's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: FBBP.F has a high level of physical assets or inventory.

Debt Coverage by Assets: FBBP.F's debt is not covered by short term assets (assets are 0x debt).


Financial Institutions Analysis

Asset Level: FBBP.F's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if FBBP.F has a sufficient allowance for bad loans.

Low Risk Liabilities: FBBP.F reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if FBBP.F has an acceptable proportion of non-loan assets held.

Low Risk Deposits: FBBP.F has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if FBBP.F has an appropriate level of bad loans.


Next Steps

Dividend

What is FIBRA Prologis's current dividend yield, its reliability and sustainability?

5.44%

Current Dividend Yield


Dividend Yield vs Market

company5.4%marketbottom25%1.4%markettop25%3.7%industryaverage3.5%forecastin3Years6.2%

Current dividend yield vs market & industry

Notable Dividend: FBBP.F's dividend (5.59%) is higher than the bottom 25% of dividend payers in the US market (1.44%).

High Dividend: FBBP.F's dividend (5.59%) is in the top 25% of dividend payers in the US market (3.69%)


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, FBBP.F has been paying a dividend for less than 10 years.

Growing Dividend: FBBP.F's dividend payments have increased, but the company has only paid a dividend for 5 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (2335.1%), FBBP.F's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: FBBP.F's dividends in 3 years are forecast to be thoroughly covered by earnings (0.1% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

6.1yrs

Average management tenure


CEO

Luis Enrique Gutiérrez Guajardo (60yo)

6.1yrs

Tenure

Mr. Luis Enrique Gutiérrez Guajardo serves as the Chairman, Director General and Chief Executive Officer of FIBRA Prologis. Mr. Guajardo has been in the real estate sector since 1989, including President f ...


Leadership Team

NamePositionTenureCompensationOwnership
Luis Enrique Gutiérrez Guajardo
Chairman & CEO6.1yrsno datano data
Jorge Roberto Girault Facha
Chief Financial Officer5.1yrsno datano data
Hector Ruben Ibarzábal Guerrero
COO & MD9.1yrsno datano data
Kosta Karmaniolas
Vice President of Finance & Investor Relations8.4yrsno datano data
Michael Blair
Acting Chief Legal Officer2.9yrsno datano data

6.1yrs

Average Tenure

57yo

Average Age

Experienced Management: FBBP.F's management team is seasoned and experienced (6.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

FIBRA Prologis's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: FIBRA Prologis
  • Ticker: FBBP.F
  • Exchange: OTCPK
  • Founded: 2013
  • Industry: Industrial REITs
  • Sector: Real Estate
  • Market Cap: Mex$28.110b
  • Listing Market Cap: Mex$1.511b
  • Shares outstanding: 649.19m
  • Website: https://www.fibraprologis.com

Location

  • FIBRA Prologis
  • Av. Prolongación Paseo de la Reforma 1236
  • Piso 9
  • Santa Fe
  • Michoacan
  • 5348
  • Mexico

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FIBRAPL 14BMV (Bolsa Mexicana de Valores)YesCBFI CertificatesMXMXNJun 2014
FBBP.FOTCPK (Pink Sheets LLC)YesCBFI CertificatesUSUSDJun 2014

Biography

FIBRA Prologis is a leading owner and operator of Class-A industrial real estate in Mexico. As of December 31, 2019, FIBRA Prologis was comprised of 191 logistics and manufacturing facilities in six industrial markets in Mexico totaling 34.9 million square feet (3.2 million square meters) of gross leasable area. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/19 01:34
End of Day Share Price2020/02/18 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.