Cedar Fair L.P.
Find Ratings ReportsCEDAR FAIR -LP's gross profit margin for the fourth quarter of its fiscal year 2023 is essentially unchanged when compared to the same period a year ago. Even though sales increased, the net income has decreased, representing a decrease to the bottom line. CEDAR FAIR -LP has very weak liquidity. Currently, the Quick Ratio is 0.36 which clearly shows a lack of ability to cover short-term cash needs. The company's liquidity has decreased from the same period last year.
At the same time, stockholders' equity ("net worth") has remained virtually unchanged only increasing by 1.46% from the same quarter last year. The key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the near future.
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Income Statement | Q4 FY23 | Q4 FY22 |
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Net Sales ($mil) | 371.12 | 365.99 |
EBITDA ($mil) | 81.66 | 80.17 |
EBIT ($mil) | 51.38 | 53.34 |
Net Income ($mil) | -9.95 | 12.36 |
Balance Sheet | Q4 FY23 | Q4 FY22 |
---|---|---|
Cash & Equiv. ($mil) | 65.81 | 101.62 |
Total Assets ($mil) | 2240.53 | 2235.9 |
Total Debt ($mil) | 2360.7 | 2361.96 |
Equity ($mil) | -582.96 | -591.6 |
Profitability | Q4 FY23 | Q4 FY22 |
---|---|---|
Gross Profit Margin | 40.81 | 39.95 |
EBITDA Margin | 22.0 | 21.9 |
Operating Margin | 13.84 | 14.57 |
Sales Turnover | 0.8 | 0.81 |
Return on Assets | 5.55 | 13.76 |
Return on Equity | 0.0 | 0.0 |
Debt | Q4 FY23 | Q4 FY22 |
---|---|---|
Current Ratio | 0.52 | 0.61 |
Debt/Capital | 1.33 | 1.33 |
Interest Expense | 36.15 | 37.25 |
Interest Coverage | 1.42 | 1.43 |
Share Data | Q4 FY23 | Q4 FY22 |
---|---|---|
Shares outstanding (mil) | 51.01 | 52.56 |
Div / share | 0.3 | 0.3 |
EPS | -0.2 | 0.22 |
Book value / share | -11.43 | -11.26 |
Institutional Own % | n/a | n/a |
Avg Daily Volume | 216768.0 | 248405.0 |
HOLD. CEDAR FAIR -LP's P/E ratio indicates a significant discount compared to an average of 36.42 for the Amusement, Gambling, and Recreation Industries subsector and a significant discount compared to the S&P 500 average of 27.95. Normally, for additional comaprison, we would look at the price-to-book ratio; however, this company's price-to-book ratio is negative making the value useless for comparisons. The price-to-sales ratio is well below both the S&P 500 average and the subsector average, indicating a discount. After reviewing these and other key valuation criteria, CEDAR FAIR -LP proves to trade at a discount to investment alternatives.
Price/Earnings |
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Price/Cash Flow |
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FUN 17.58 | Peers 36.42 | FUN 6.72 | Peers 9.66 | |||||||||||||||||||||
Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations. FUN is trading at a significant discount to its peers. |
Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures. FUN is trading at a significant discount to its peers. |
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Price/Projected Earnings |
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Price to Earnings/Growth |
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FUN 11.14 | Peers 28.70 | FUN 0.44 | Peers 2.56 | |||||||||||||||||||||
Discount. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth expectations. FUN is trading at a significant discount to its peers. |
Discount. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples. FUN trades at a significant discount to its peers. |
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Price/Book |
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Earnings Growth |
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FUN NM | Peers 13.29 | FUN -54.90 | Peers 94.00 | |||||||||||||||||||||
Neutral. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet. FUN's P/B is negative making this valuation measure meaningless. |
Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios. However, FUN is expected to significantly trail its peers on the basis of its earnings growth rate. |
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Price/Sales |
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Sales Growth |
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FUN 1.22 | Peers 3.05 | FUN -1.03 | Peers 26.45 | |||||||||||||||||||||
Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales. FUN is trading at a significant discount to its subsector on this measurement. |
Lower. A sales growth rate that trails the subsector implies that a company is losing market share. FUN significantly trails its peers on the basis of sales growth. |
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