Cedar Fair LP

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FUN : NYSE : Services
$60.04 | %
Today's Range: 59.95 - 60.309
Avg. Daily Volume: 145400.0
12/02/16 - 4:02 PM ET

Financial Analysis


CEDAR FAIR -LP's gross profit margin for the third quarter of its fiscal year 2016 is essentially unchanged when compared to the same period a year ago. The company has grown sales and net income during the past quarter when compared with the same quarter a year ago, however, it was unable to keep up with the growth of the average competitor within its industry. CEDAR FAIR -LP has weak liquidity. Currently, the Quick Ratio is 0.91 which shows a lack of ability to cover short-term cash needs. The company's liquidity has decreased from the same period last year, indicating deteriorating cash flow.

During the same period, stockholders' equity ("net worth") has decreased by 15.73% from the same quarter last year. Overall, the key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the future.

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Income Statement Q3 FY16 Q3 FY15
Net Sales ($mil)650.28644.64
EBITDA ($mil)333.84343.71
EBIT ($mil)269.15284.65
Net Income ($mil)174.99164.15


Balance Sheet Q3 FY16 Q3 FY15
Cash & Equiv. ($mil)187.3196.32
Total Assets ($mil)2083.112098.95
Total Debt ($mil)1535.871558.85
Equity ($mil)105.45125.14


Profitability Q3 FY16 Q3 FY15
Gross Profit Margin61.3562.66
EBITDA Margin51.3353.31
Operating Margin41.3944.16
Sales Turnover0.610.59
Return on Assets7.625.71
Return on Equity150.695.77
Debt Q3 FY16 Q3 FY15
Current Ratio1.081.33
Debt/Capital0.940.93
Interest Expense21.1822.11
Interest Coverage12.7112.88


Share Data Q3 FY16 Q3 FY15
Shares outstanding (mil)56.0956.01
Div / share0.830.75
EPS3.12.92
Book value / share1.882.23
Institutional Own % n/a n/a
Avg Daily Volume164782.0154861.0

Valuation


BUY. This stock's P/E ratio indicates a discount compared to an average of 31.28 for the Hotels, Restaurants & Leisure industry and a discount compared to the S&P 500 average of 25.37. For additional comparison, its price-to-book ratio of 31.92 indicates a significant premium versus the S&P 500 average of 2.81 and a significant premium versus the industry average of 7.55. The current price-to-sales ratio is well above the S&P 500 average, but below the industry average. The valuation analysis reveals that, CEDAR FAIR -LP seems to be trading at a discount to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
FUN 21.43 Peers 31.28   FUN 9.96 Peers 15.46

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.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
FUN 16.64 Peers 31.60   FUN 0.28 Peers 1.41

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.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
FUN 31.92 Peers 7.55   FUN 32.07 Peers 69.23

Premium. A higher price-to-book ratio makes a stock less attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

FUN is trading at a significant premium to its peers.

 

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.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
FUN 2.66 Peers 2.95   FUN 2.76 Peers 4.78

Average. 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 valuation on par with its industry on this measurement.

 

Lower. A sales growth rate that trails the industry implies that a company is losing market share.

FUN significantly trails its peers on the basis of sales growth

 

 

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