TSX:ICE

Stock Analysis Report

Executive Summary

Canlan Ice Sports Corp. engages in the acquisition, development, lease, and operation of multi-purpose recreation and entertainment facilities in North America.

Snowflake

Fundamentals

Questionable track record and overvalued.

Share Price & News

How has Canlan Ice Sports's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0.2%

ICE

-0.9%

CA Hospitality

-0.3%

CA Market


1 Year Return

-4.7%

ICE

-5.6%

CA Hospitality

4.8%

CA Market

Return vs Industry: ICE exceeded the Canadian Hospitality industry which returned -5.6% over the past year.

Return vs Market: ICE underperformed the Canadian Market which returned 4.8% over the past year.


Shareholder returns

ICEIndustryMarket
7 Day0.2%-0.9%-0.3%
30 Day5.8%9.3%-3.3%
90 Day3.4%2.6%-1.6%
1 Year-2.7%-4.7%-4.9%-5.6%8.5%4.8%
3 Year55.1%45.7%38.8%34.9%14.8%4.5%
5 Year80.1%61.4%2.1%-0.9%26.6%8.1%

Price Volatility Vs. Market

How volatile is Canlan Ice Sports's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Canlan Ice Sports undervalued compared to its fair value and its price relative to the market?

11.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ICE (CA$5.1) is trading below our estimate of fair value (CA$5.75)

Significantly Below Fair Value: ICE is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: ICE is poor value based on its PE Ratio (19.7x) compared to the Hospitality industry average (19x).

PE vs Market: ICE is poor value based on its PE Ratio (19.7x) compared to the Canadian market (13.7x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate ICE's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: ICE is overvalued based on its PB Ratio (1.4x) compared to the CA Hospitality industry average (1.3x).


Next Steps

Future Growth

How is Canlan Ice Sports forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

12.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ICE's forecast earnings growth (12.2% per year) is above the savings rate (1.9%).

Earnings vs Market: ICE's earnings (12.2% per year) are forecast to grow slower than the Canadian market (13% per year).

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

Revenue vs Market: Insufficient data to determine if ICE's revenue is forecast to grow faster than the Canadian market.

High Growth Revenue: Insufficient data to determine if ICE's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if ICE's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Canlan Ice Sports performed over the past 5 years?

43.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: ICE's earnings have grown significantly by 43.1% per year over the past 5 years.

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

Earnings vs Industry: ICE had negative earnings growth (-18.2%) over the past year, making it difficult to compare to the Hospitality industry average (-12.2%).


Return on Equity

High ROE: ICE's Return on Equity (7%) is considered low.


Return on Assets

ROA vs Industry: ICE's Return on Assets is below or equal to the Hospitality industry average last year.


Return on Capital Employed

ROCE Improving: ICE has improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is Canlan Ice Sports's financial position?


Financial Position Analysis

Short Term Liabilities: ICE's short term assets (CA$17.2M) do not cover its short term liabilities (CA$25.3M)

Long Term Liabilities: ICE's short term assets (17.2M) do not cover its long term liabilities (65.1M)


Debt to Equity History and Analysis

Debt Level: ICE's debt to equity ratio (123%) is considered high

Reducing Debt: ICE's debt to equity ratio has increased from 96.7% to 123% over the past 5 years.

Debt Coverage: ICE's debt is well covered by operating cash flow (22%).

Interest Coverage: ICE's interest payments on its debt are not well covered by EBIT (2.2x coverage).


Balance Sheet

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

Debt Coverage by Assets: ICE's debt is not covered by short term assets (assets are 0.3x debt).


Next Steps

Dividend

What is Canlan Ice Sports's current dividend yield, its reliability and sustainability?

1.96%

Current Dividend Yield


Dividend Yield vs Market

company2.0%marketbottom25%2.0%markettop25%6.0%industryaverage2.6%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: ICE's dividend (1.96%) isn’t notable compared to the bottom 25% of dividend payers in the Canadian market (2.04%).

High Dividend: ICE's dividend (1.96%) is low compared to the top 25% of dividend payers in the Canadian market (5.96%).

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

Growing Dividend: ICE's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (38.7%), ICE's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of Canlan Ice Sports's salary, the management and board of directors tenure and is there insider trading?

1.7yrs

Average management tenure


CEO

Joey St-Aubin 0

10.8yrs

Tenure

CA$376,890

Compensation

Mr. Joey St-Aubin has been the Chief Executive Officer and President of Canlan Ice Sports Corp., since January 1, 2009. Mr. St-Aubin served as Senior Vice President of Operations and Chief Operating Office ...


CEO Compensation Analysis

Compensation vs. Market: Joey's total compensation ($USD287.92K) is about average for companies of similar size in the Canadian market ($USD136.27K).

Compensation vs Earnings: Joey's compensation has been consistent with company performance over the past year.


Management Age and Tenure

1.7yrs

Average Tenure

Experienced Management: ICE's management team is not considered experienced ( 1.7 years average tenure), which suggests a new team.


Board Age and Tenure

10.7yrs

Average Tenure

Experienced Board: ICE's board of directors are seasoned and experienced ( 10.7 years average tenure).


Insider Trading

Insider Buying: ICE insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyCA$1,40504 Oct 19
The Jerry Zucker Revocable Trust
EntityCompany
Shares300
Max PriceCA$4.69
BuyCA$4,48919 Sep 19
Vivian Chan
EntityIndividual
Shares920
Max PriceCA$4.90
BuyCA$6,97013 Sep 19
The Jerry Zucker Revocable Trust
EntityCompany
Shares1,500
Max PriceCA$4.65
BuyCA$4,83610 Sep 19
Ivan Wu
EntityIndividual
Role
Chief Financial Officer
Chief Financial Officer
Shares1,000
Max PriceCA$4.88
BuyCA$3,75910 Sep 19
Vivian Chan
EntityIndividual
Shares800
Max PriceCA$4.70
BuyCA$2,37522 Aug 19
Mark Faubert
EntityIndividual
Role
Chief Operating Officer
Senior VP of Operations & COO
Shares460
Max PriceCA$5.19
BuyCA$1,97628 Jun 19
Greg Porcellato
EntityIndividual
Shares400
Max PriceCA$4.94
BuyCA$2,82603 Jun 19
The Jerry Zucker Revocable Trust
EntityCompany
Shares600
Max PriceCA$4.71
BuyCA$84229 May 19
Michael Gellard
EntityIndividual
Role
Senior Key Executive
Executive Vice President
Shares175
Max PriceCA$4.82
BuyCA$3,92021 May 19
Vivian Chan
EntityIndividual
Shares800
Max PriceCA$4.90
BuyCA$8,92508 May 19
The Jerry Zucker Revocable Trust
EntityCompany
Shares1,900
Max PriceCA$4.75
BuyCA$32,41403 Apr 19
The Jerry Zucker Revocable Trust
EntityCompany
Shares6,900
Max PriceCA$4.74
SellCA$17,61501 Apr 19
Reignite Capital Corporation, Asset Management Arm
EntityCompany
Shares3,700
Max PriceCA$4.85
BuyCA$2,63701 Apr 19
Michael Gellard
EntityIndividual
Role
Senior Key Executive
Executive Vice President
Shares550
Max PriceCA$4.80
BuyCA$2,94626 Mar 19
Ivan Wu
EntityIndividual
Role
Chief Financial Officer
Chief Financial Officer
Shares600
Max PriceCA$4.91
BuyCA$38,82220 Mar 19
The Jerry Zucker Revocable Trust
EntityCompany
Shares8,200
Max PriceCA$4.75
BuyCA$4,77712 Mar 19
The Jerry Zucker Revocable Trust
EntityCompany
Shares1,000
Max PriceCA$4.79
BuyCA$10,41606 Mar 19
The Jerry Zucker Revocable Trust
EntityCompany
Shares2,200
Max PriceCA$4.78
BuyCA$13,96928 Jan 19
The Jerry Zucker Revocable Trust
EntityCompany
Shares3,000
Max PriceCA$4.68
BuyCA$5,02518 Jan 19
The Jerry Zucker Revocable Trust
EntityCompany
Shares1,100
Max PriceCA$4.65
BuyCA$10,51411 Jan 19
The Jerry Zucker Revocable Trust
EntityCompany
Shares2,400
Max PriceCA$4.51
BuyCA$93123 Nov 18
Mark Faubert
EntityIndividual
Role
Chief Operating Officer
Senior VP of Operations & COO
Shares180
Max PriceCA$5.20

Ownership Breakdown


Management Team

  • Michael Gellard

    Executive Vice President

    • Tenure: 1.7yrs
    • Compensation: CA$309.79k
  • Joey St-Aubin

    President

    • Tenure: 10.8yrs
    • Compensation: CA$376.89k
  • Ivan Wu

    Chief Financial Officer

    • Tenure: 1.7yrs
    • Compensation: CA$214.77k
  • Mark Faubert

    Senior VP of Operations & COO

    • Tenure: 2.7yrs
    • Compensation: CA$221.42k
  • Mark Reynolds

    VP of Human Resources & Chief Privacy Officer

    • Tenure: 0yrs
    • Compensation: CA$172.73k
  • Hailey Clark

    Vice-President of Sales

    • Tenure: 1.7yrs

Board Members

  • Doug Brownridge

    Independent Director

    • Tenure: 4.6yrs
    • Compensation: CA$32.50k
  • Bill Bullis

    Independent Director

    • Tenure: 8.3yrs
    • Compensation: CA$30.80k
  • Frank Barker

    Non-Independent Director

    • Tenure: 33.4yrs
    • Compensation: CA$16.25k
  • W. Ballantyne

    Independent Chairman

    • Tenure: 10.8yrs
    • Compensation: CA$66.25k
  • Joey St-Aubin

    President

    • Tenure: 10.8yrs
    • Compensation: CA$376.89k
  • Victor D'Souza (62yo)

    Independent Director

    • Tenure: 8.3yrs
    • Compensation: CA$19.90k
  • Charles Allen

    Independent Director

    • Tenure: 12.9yrs
    • Compensation: CA$38.45k
  • Geoff Barker

    Non-Independent Director

    • Tenure: 32.4yrs
    • Compensation: CA$15.50k

Company Information

Canlan Ice Sports Corp.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Canlan Ice Sports Corp.
  • Ticker: ICE
  • Exchange: TSX
  • Founded: 1956
  • Industry: Leisure Facilities
  • Sector: Consumer Services
  • Market Cap: CA$68.019m
  • Shares outstanding: 13.34m
  • Website: https://www.icesports.com

Number of Employees


Location

  • Canlan Ice Sports Corp.
  • Burnaby 8Rinks
  • 6501 Sprott Street
  • Burnaby
  • British Columbia
  • V5B 3B8
  • Canada

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ICETSX (The Toronto Stock Exchange)YesCommon SharesCACADJan 1986

Biography

Canlan Ice Sports Corp. engages in the acquisition, development, lease, and operation of multi-purpose recreation and entertainment facilities in North America. The company operates through six segments: I ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/23 23:35
End of Day Share Price2019/10/23 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.