Capital Power
Capital Power Corporation develops, acquires, owns, and operates power generation facilities in Canada and the United States. The last earnings update was 57 days ago. More info.
Add to Portfolio Compare Print
CPX Share Price and Events
7 Day Returns
1 Year Returns
CPX Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Capital Power (CPX) | -0.4% | -0.3% | 9.8% | 27.8% | 73.9% | 25.3% |
| CA Renewable Energy | -0.1% | 0.7% | 14.8% | 12.1% | 24% | 1.7% |
| CA Market | 0.6% | 2.2% | 8.8% | 4.4% | 15.7% | 7.1% |
1 Year Return vs Industry and Market
- CPX outperformed the Renewable Energy industry which returned 12.1% over the past year.
- CPX outperformed the Market in Canada which returned 4.4% over the past year.
CPX Value
Is Capital Power undervalued based on future cash flows and its price relative to the stock market?
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Capital Power
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Capital Power.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 9 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 7.6% |
| Perpetual Growth Rate | 10-Year CA Government Bond Rate | 1.9% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year CA Govt Bond Rate | 1.9% |
| Equity Risk Premium | S&P Global | 6% |
| Renewable Energy Unlevered Beta | Simply Wall St/ S&P Global | 0.57 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.57 (1 + (1- 26.5%) (83.17%)) |
0.945 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.95 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (0.945 * 5.96%) |
7.58% |
Discounted Cash Flow Calculation for TSX:CPX using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Capital Power is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (CAD, Millions) | Source |
Present Value Discounted (@ 7.58%) |
|
|---|---|---|---|
| 2019 | 489.60 | Analyst x5 | 455.10 |
| 2020 | 495.90 | Analyst x6 | 428.47 |
| 2021 | 467.20 | Analyst x2 | 375.22 |
| 2022 | 455.95 | Analyst x2 | 340.38 |
| 2023 | 452.00 | Analyst x2 | 313.66 |
| 2024 | 451.89 | Est @ -0.03% | 291.48 |
| 2025 | 454.44 | Est @ 0.57% | 272.47 |
| 2026 | 458.90 | Est @ 0.98% | 255.75 |
| 2027 | 464.73 | Est @ 1.27% | 240.75 |
| 2028 | 471.58 | Est @ 1.47% | 227.08 |
| Present value of next 10 years cash flows | CA$3,200.36 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= CA$471.58 × (1 + 1.95%) ÷ (7.58% – 1.95%) |
CA$8,532.59 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= CA$8,532.59 ÷ (1 + 7.58%)10 |
CA$4,108.74 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= CA$3,200.36 + CA$4,108.74 |
CA$7,309.11 |
| Equity Value per Share (CAD) |
= Total value / Shares Outstanding
= CA$7,309.11 / 102.17 |
CA$71.54 |
| Calculation | Result | |
|---|---|---|
| Value per share (CAD) | From above. | CA$71.54 |
| Current discount | Discount to share price of
CA$31.36
= -1 x (CA$31.36 - CA$71.54) / CA$71.54 |
56.2% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Capital Power's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Capital Power's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Capital Power's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Capital Power's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in CAD | CA$2.25 |
| TSX:CPX Share Price ** | TSX (2019-04-16) in CAD | CA$31.36 |
| Canada Renewable Energy Industry PE Ratio | Median Figure of 8 Publicly-Listed Renewable Energy Companies | 14.53x |
| Canada Market PE Ratio | Median Figure of 556 Publicly-Listed Companies | 15.47x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Capital Power.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = TSX:CPX Share Price ÷ EPS (both in CAD) = 31.36 ÷ 2.25 |
13.92x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Capital Power is good value based on earnings compared to the CA Renewable Energy industry average.
- Capital Power is good value based on earnings compared to the Canada market.
Price based on expected Growth
Does
Capital Power's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 13.92x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts |
-16.9%per year |
| Canada Renewable Energy Industry PEG Ratio | Median Figure of 6 Publicly-Listed Renewable Energy Companies | 0.2x |
| Canada Market PEG Ratio | Median Figure of 254 Publicly-Listed Companies | 1.2x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 13.92x ÷ -16.9% |
-0.82x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Capital Power earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Capital Power's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in CAD | CA$22.27 |
| TSX:CPX Share Price * | TSX (2019-04-16) in CAD | CA$31.36 |
| Canada Renewable Energy Industry PB Ratio | Median Figure of 15 Publicly-Listed Renewable Energy Companies | 1.54x |
| Canada Market PB Ratio | Median Figure of 2,369 Publicly-Listed Companies | 1.52x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = TSX:CPX Share Price ÷ Book Value per Share (both in CAD) = 31.36 ÷ 22.27 |
1.41x |
* Primary Listing of Capital Power.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Capital Power is good value based on assets compared to the CA Renewable Energy industry average.
Value checks
We assess Capital Power's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Renewable Energy industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Renewable Energy industry average (and greater than 0)? (1 check) Capital Power has a total score of 5/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
CPX Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Capital Power's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.9%.
Growth vs Market Checks
- Capital Power's earnings are expected to decrease over the next 1-3 years, this is below the Canada market average.
- Capital Power's revenue growth is positive but not above the Canada market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| TSX:CPX Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts | -16.9% |
| TSX:CPX Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts | 2.5% |
| Canada Renewable Energy Industry Earnings Growth Rate | Market Cap Weighted Average | 24.4% |
| Canada Renewable Energy Industry Revenue Growth Rate | Market Cap Weighted Average | 3.8% |
| Canada Market Earnings Growth Rate | Market Cap Weighted Average | 18.2% |
| Canada Market Revenue Growth Rate | Market Cap Weighted Average | 7.1% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 9 Analyst Estimates (S&P Global) | See Below |
| Date (Data in CAD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 1,453 | 450 | 1 | |
| 2022-12-31 | 1,450 | 549 | 1 | |
| 2021-12-31 | 1,476 | 557 | 1 | |
| 2020-12-31 | 1,475 | 595 | 164 | 5 |
| 2019-12-31 | 1,545 | 611 | 209 | 4 |
| Date (Data in CAD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 1,249 | 450 | 232 |
| 2018-09-30 | 1,168 | 392 | 81 |
| 2018-06-30 | 1,118 | 447 | 57 |
| 2018-03-31 | 1,004 | 416 | 99 |
| 2017-12-31 | 1,046 | 372 | 108 |
| 2017-09-30 | 1,093 | 366 | 149 |
| 2017-06-30 | 1,146 | 351 | 224 |
| 2017-03-31 | 1,189 | 343 | 141 |
| 2016-12-31 | 1,199 | 375 | 88 |
| 2016-09-30 | 1,258 | 420 | 97 |
| 2016-06-30 | 1,357 | 499 | 80 |
| 2016-03-31 | 1,215 | 443 | 22 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 9 Analyst Estimates (S&P Global) | See Below |
All data from Capital Power Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in CAD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | ||||
| 2022-12-31 | ||||
| 2021-12-31 | ||||
| 2020-12-31 | 1.60 | 1.79 | 1.45 | 3.00 |
| 2019-12-31 | 2.04 | 2.13 | 1.95 | 3.00 |
| Date (Data in CAD Millions) | EPS * |
|---|---|
| 2018-12-31 | 2.25 |
| 2018-09-30 | 0.78 |
| 2018-06-30 | 0.55 |
| 2018-03-31 | 0.96 |
| 2017-12-31 | 1.07 |
| 2017-09-30 | 1.51 |
| 2017-06-30 | 2.32 |
| 2017-03-31 | 1.47 |
| 2016-12-31 | 0.91 |
| 2016-09-30 | 1.00 |
| 2016-06-30 | 0.82 |
| 2016-03-31 | 0.22 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Capital Power's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Capital Power has a total score of 0/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
CPX Past Performance
How has Capital Power performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Capital Power's year on year earnings growth rate has been positive over the past 5 years.
- Capital Power's 1-year earnings growth exceeds its 5-year average (114.8% vs 10.7%)
- Capital Power's earnings growth has not exceeded the CA Renewable Energy industry average in the past year (114.8% vs 114.8%).
Earnings and Revenue History
All data from Capital Power Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in CAD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 1,249.00 | 232.00 | 239.00 | |
| 2018-09-30 | 1,168.00 | 81.00 | 223.00 | |
| 2018-06-30 | 1,118.00 | 57.00 | 216.00 | |
| 2018-03-31 | 1,004.00 | 99.00 | 215.00 | |
| 2017-12-31 | 1,046.00 | 108.00 | 212.00 | |
| 2017-09-30 | 1,093.00 | 149.00 | 217.00 | |
| 2017-06-30 | 1,146.00 | 224.00 | 215.00 | |
| 2017-03-31 | 1,189.00 | 141.00 | 213.00 | |
| 2016-12-31 | 1,199.00 | 88.00 | 210.00 | |
| 2016-09-30 | 1,258.00 | 97.00 | 208.00 | |
| 2016-06-30 | 1,357.00 | 80.00 | 208.00 | |
| 2016-03-31 | 1,215.00 | 22.00 | 205.00 | |
| 2015-12-31 | 1,241.00 | 67.00 | 205.00 | |
| 2015-09-30 | 1,342.00 | 71.00 | 207.00 | |
| 2015-06-30 | 1,121.00 | -24.00 | 208.00 | |
| 2015-03-31 | 1,278.00 | 30.00 | 212.00 | |
| 2014-12-31 | 1,228.00 | 23.00 | 211.00 | |
| 2014-09-30 | 1,123.00 | 61.00 | 219.00 | |
| 2014-06-30 | 1,255.00 | 151.00 | 224.00 | |
| 2014-03-31 | 1,336.00 | 151.00 | 228.00 | |
| 2013-12-31 | 1,393.00 | 155.00 | 235.00 | |
| 2013-09-30 | 1,331.00 | 97.00 | 228.00 | |
| 2013-06-30 | 1,345.00 | 96.00 | 229.00 | |
| 2013-03-31 | 1,285.00 | 48.00 | 224.00 | |
| 2012-12-31 | 1,296.00 | 56.00 | 224.00 | |
| 2012-09-30 | 1,434.00 | 125.00 | 218.00 | |
| 2012-06-30 | 1,473.00 | 101.00 | 221.00 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Capital Power has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Capital Power used its assets less efficiently than the CA Renewable Energy industry average last year based on Return on Assets.
- Capital Power's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Capital Power's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Renewable Energy industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Capital Power has a total score of 2/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
CPX Health
How is Capital Power's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Capital Power's finances.
The net worth of a company is the difference between its assets and liabilities.
- Capital Power is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Capital Power's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Capital Power Company Filings, last reported 3 months ago.
| Date (Data in CAD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 3,119.00 | 2,665.00 | 182.00 |
| 2018-09-30 | 2,987.00 | 2,157.00 | 41.00 |
| 2018-06-30 | 2,996.00 | 2,099.00 | 49.00 |
| 2018-03-31 | 2,991.00 | 2,101.00 | 48.00 |
| 2017-12-31 | 3,062.00 | 2,164.00 | 52.00 |
| 2017-09-30 | 3,156.00 | 2,173.00 | 62.00 |
| 2017-06-30 | 3,096.00 | 2,453.00 | 47.00 |
| 2017-03-31 | 2,918.00 | 1,625.00 | 65.00 |
| 2016-12-31 | 2,901.00 | 1,528.00 | 98.00 |
| 2016-09-30 | 2,720.00 | 1,552.00 | 25.00 |
| 2016-06-30 | 2,675.00 | 1,587.00 | 30.00 |
| 2016-03-31 | 2,739.00 | 1,554.00 | 53.00 |
| 2015-12-31 | 2,816.00 | 1,648.00 | 80.00 |
| 2015-09-30 | 2,852.00 | 1,617.00 | 42.00 |
| 2015-06-30 | 2,812.00 | 1,646.00 | 54.00 |
| 2015-03-31 | 3,066.00 | 1,593.00 | 86.00 |
| 2014-12-31 | 3,003.00 | 1,591.00 | 75.00 |
| 2014-09-30 | 2,937.00 | 1,535.00 | 121.00 |
| 2014-06-30 | 3,004.00 | 1,526.00 | 89.00 |
| 2014-03-31 | 3,019.00 | 1,568.00 | 106.00 |
| 2013-12-31 | 3,004.00 | 1,528.00 | 100.00 |
| 2013-09-30 | 2,987.00 | 2,063.00 | 32.00 |
| 2013-06-30 | 2,964.00 | 1,725.00 | 51.00 |
| 2013-03-31 | 2,973.00 | 1,635.00 | 39.00 |
| 2012-12-31 | 2,752.00 | 1,659.00 | 53.00 |
| 2012-09-30 | 2,615.00 | 1,665.00 | 35.00 |
| 2012-06-30 | 2,555.00 | 1,581.00 | 42.00 |
- Capital Power's level of debt (85.4%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (50.9% vs 85.4% today).
- Debt is not well covered by operating cash flow (16.9%, less than 20% of total debt).
- Interest payments on debt are not well covered by earnings (EBIT is 2.5x annual interest expense, ideally 3x coverage).
Financial health checks
We assess Capital Power's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Capital Power has a total score of 1/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
CPX Dividends
What is Capital Power's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
CA$2,000 of
Capital Power
shares you are expected to receive
CA$114
in your first year as a dividend.
Dividend Amount
- Capital Power's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.09%).
- Capital Power's dividend is above the markets top 25% of dividend payers in Canada (5.61%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 9 Analyst Estimates (S&P Global) | See Below |
| Canada Renewable Energy Industry Average Dividend Yield | Market Cap Weighted Average of 7 Stocks | 4.8% |
| Canada Market Average Dividend Yield | Market Cap Weighted Average of 330 Stocks | 3.5% |
| Canada Minimum Threshold Dividend Yield | 10th Percentile | 1.2% |
| Canada Bottom 25% Dividend Yield | 25th Percentile | 2.1% |
| Canada Top 25% Dividend Yield | 75th Percentile | 5.6% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in CA$) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | 2.16 | 2.00 |
| 2022-12-31 | 2.16 | 2.00 |
| 2021-12-31 | 2.13 | 2.00 |
| 2020-12-31 | 1.98 | 9.00 |
| 2019-12-31 | 1.84 | 9.00 |
| Date (Data in CA$) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-02-15 | 1.790 | 5.796 |
| 2018-10-26 | 1.790 | 6.430 |
| 2018-07-30 | 1.790 | 6.405 |
| 2018-04-27 | 1.670 | 6.601 |
| 2018-02-15 | 1.670 | 6.869 |
| 2017-11-16 | 1.670 | 7.033 |
| 2017-07-26 | 1.670 | 6.634 |
| 2017-04-28 | 1.560 | 6.278 |
| 2017-02-17 | 1.560 | 6.135 |
| 2016-11-17 | 1.560 | 6.553 |
| 2016-07-25 | 1.560 | 7.455 |
| 2016-04-22 | 1.460 | 7.726 |
| 2016-02-18 | 1.460 | 8.159 |
| 2015-11-18 | 1.460 | 8.408 |
| 2015-07-27 | 1.460 | 7.434 |
| 2015-04-24 | 1.360 | 5.907 |
| 2015-02-25 | 1.360 | 5.537 |
| 2014-11-20 | 1.360 | 5.222 |
| 2014-07-25 | 1.360 | 5.051 |
| 2014-04-25 | 1.260 | 4.890 |
| 2014-02-28 | 1.260 | 5.022 |
| 2013-11-20 | 1.260 | 5.777 |
| 2013-07-26 | 1.260 | 6.010 |
| 2013-04-26 | 1.260 | 5.926 |
| 2013-03-01 | 1.260 | 5.875 |
| 2012-07-26 | 1.260 | 5.674 |
| 2012-04-27 | 1.260 | 5.336 |
| 2012-03-13 | 1.260 | 5.323 |
| 2011-11-23 | 1.260 | 5.090 |
| 2011-08-03 | 1.260 | 5.098 |
| 2011-04-29 | 1.260 | 4.889 |
| 2011-03-08 | 1.260 | 4.961 |
| 2010-11-24 | 1.260 | 5.199 |
| 2010-08-03 | 1.260 | 5.361 |
| 2010-04-30 | 1.260 | 5.576 |
| 2010-03-19 | 1.260 | 5.574 |
| 2009-11-25 | 1.260 | 5.882 |
| 2009-10-30 | 1.260 | 6.469 |
| 2009-09-16 | 1.260 | 6.256 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been stable in the past 10 years.
- Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of
Capital Power's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are covered by earnings (1.3x coverage).
- Dividends after 3 years are not well covered by earnings (0.8x coverage).
Income/ dividend checks
We assess Capital Power's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Capital Power afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Capital Power has a total score of 5/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
CPX Management
CEO
| COMPENSATION | CA$3,377,425 |
| AGE | 63 |
| TENURE AS CEO | 9.8 years |
CEO Bio
Mr. Brian Tellef Vaasjo serves the President, Chief Executive Officer and Director of Capital Power Corporation. He possesses over 35 years of industry experience, which includes time as Executive Vice President of EPCOR and as President of EPCOR's Energy Division. He also was with the Enbridge Group of Companies for 19 years. He was President of Capital Power Income L.P. from September 2005 until July 2009, and Chairman of the Board of its general partner from July 2009 to November 2011. He holds an MBA from the University of Alberta, where he also received his undergraduate degree. He attended the University of Western Ontario Executive Program and is a Fellow of the Society of the Chartered Professional Accountants. He is a member of the Financial Executives Institute of Canada and serves on the University of Alberta School of Business Advisory Council. He is past Board Chair of the United Way, the Alberta Capital Region, and the Alberta Shock Trauma Air Rescue Society (STARS). He also served on the boards of the Alberta Society of Management Accountants and the Citadel Theatre.
CEO Compensation
- Brian's compensation has been consistent with company performance over the past year.
- Brian's remuneration is about average for companies of similar size in Canada.
Management Team Tenure
Average tenure and age of the Capital Power management team in years:
- The average tenure for the Capital Power management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Brian Vaasjo
President
CA$3M
63
9.8 yrs
Bryan DeNeve
Senior VP of Finance & CFO
CA$2M
53
3.9 yrs
Darcy Trufyn
Senior Vice President of Operations
CA$1M
63
6.4 yrs
Kate Chisholm
Senior VP and Chief Legal & Sustainability Officer
CA$1M
55
6.4 yrs
Mark A. Zimmerman
Senior Vice President of Corporate Development & Commercial Services
CA$1M
54
3.4 yrs
Randy Mah
Senior Manager of Investor Relations
Jacquie Pylypiuk
Vice President of Human Resources
CA$333K
49
4 yrs
Colleen Legge
Corporate Secretary
Board of Directors Tenure
Average tenure and age of the Capital Power board of directors in years:
- The tenure for the Capital Power board of directors is about average.
Board of Directors
Don Lowry
Chairman of the Board
CA$331K
67
9.8 yrs
Brian Vaasjo
President
CA$3M
63
9.9 yrs
Phil Lachambre
Director
CA$187K
67
9.8 yrs
Doyle Beneby
Director
CA$239K
59
7 yrs
Jill Gardiner
Director
CA$189K
60
3.9 yrs
Al Bellstedt
Director
CA$173K
69
9.8 yrs
Kelly Huntington
Director
CA$225K
43
3.8 yrs
Kate Stevenson
Director
CA$173K
56
2 yrs
Brian Trent
Director
CA$225K
59
2 yrs
Jane Peverett
Director
59
0.1 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (CA$) | Value (CA$) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 29. Jan 19 | Sell | Brian Vaasjo | Individual | 21. Jan 19 | 22. Jan 19 | -96,401 | CA$28.70 | CA$-2,759,500 | ||
| 28. Jan 19 | Sell | Bryan DeNeve | Individual | 23. Jan 19 | 23. Jan 19 | -200 | CA$28.54 | CA$-5,708 | ||
| 13. Dec 18 | Buy | Darcy Trufyn | Individual | 10. Dec 18 | 10. Dec 18 | 2,546 | CA$28.36 | CA$72,205 | ||
| 19. Nov 18 | Sell | Bryan DeNeve | Individual | 14. Nov 18 | 14. Nov 18 | -50 | CA$27.01 | CA$-1,350 | ||
| 09. Nov 18 | Buy | Brian Vaasjo | Individual | 09. Nov 18 | 09. Nov 18 | 10,000 | CA$26.15 | CA$261,470 | ||
| 06. Jun 18 | Sell | Bryan DeNeve | Individual | 04. Jun 18 | 04. Jun 18 | -200 | CA$25.04 | CA$-5,008 | ||
| 28. May 18 | Buy | Brian Vaasjo | Individual | 25. May 18 | 25. May 18 | 10,000 | CA$24.99 | CA$249,947 | ||
| 10. May 18 | Sell | Bryan DeNeve | Individual | 07. May 18 | 07. May 18 | -120 | CA$25.53 | CA$-3,064 | ||
Management checks
We assess Capital Power's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Capital Power has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
CPX News
Simply Wall St News
Does Capital Power Corporation (TSE:CPX) Have A Good P/E Ratio?
To keep it practical, we'll show how Capital Power Corporation's (TSE:CPX) P/E ratio could help you assess the value on offer. … Capital Power has a P/E ratio of 13.98, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)
Simply Wall St - – Full articleWhat Kind Of Shareholders Own Capital Power Corporation (TSE:CPX)?
The big shareholder groups in Capital Power Corporation (TSE:CPX) have power over the company. … Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … Companies that have been privatized tend to have low insider ownership.
Simply Wall St - – Full articleCapital Power Corporation (TSE:CPX) Insiders Have Been Selling
So shareholders might well want to know whether insiders have been buying or selling shares in Capital Power Corporation (TSE:CPX). … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … Capital Power Insider Transactions Over The Last Year.
Simply Wall St - – Full articleIf You Had Bought Capital Power (TSE:CPX) Shares Three Years Ago You'd Have Made 70%
For example, the Capital Power Corporation (TSE:CPX) share price is up 70% in the last three years, clearly besting than the market return of around 16% (not including dividends). … One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. … During three years of share price growth, Capital Power achieved compound earnings per share growth of 48% per year.
Simply Wall St - – Full articleShould You Worry About Capital Power Corporation's (TSE:CPX) CEO Pay?
In 2009 Brian Vaasjo was appointed CEO of Capital Power Corporation (TSE:CPX). … This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Brian Vaasjo's Compensation Compare With Similar Sized Companies?
Simply Wall St - – Full articleAre Capital Power Corporation's (TSE:CPX) Interest Costs Too High?
Mid-caps stocks, like Capital Power Corporation (TSE:CPX) with a market capitalization of CA$3.0b, aren’t the focus of most investors who prefer to direct their investments towards either large-cap or small-cap stocks. … However, generally ignored mid-caps have historically delivered better risk-adjusted returns than the two other categories of stocks. … View our latest analysis for Capital Power
Simply Wall St - – Full articleHere’s why Capital Power Corporation’s (TSE:CPX) Returns On Capital Matters So Much
To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Return On Capital Employed (ROCE): What is it? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.
Simply Wall St - – Full articleWhat Does Capital Power Corporation's (TSE:CPX) P/E Ratio Tell You?
This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … To keep it practical, we'll show how Capital Power Corporation's (TSE:CPX) P/E ratio could help you assess the value on offer. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)
Simply Wall St - – Full articleIs Capital Power Corporation's (TSE:CPX) 3.9% ROE Worse Than Average?
Capital Power has a ROE of 3.9%, based on the last twelve months. … One way to conceptualize this, is that for each CA$1 of shareholders' equity it has, the company made CA$0.038 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleHow Much Are Capital Power Corporation (TSE:CPX) Insiders Spending On Buying Shares?
So we'll take a look at whether insiders have been buying or selling shares in Capital Power Corporation (TSE:CPX). … In any event it's generally a positive if insiders are buying shares at around the current price. … In the last twelve months there was more buying than selling by Capital Power insiders
Simply Wall St - – Full articleCPX Company Info
Description
Capital Power Corporation develops, acquires, owns, and operates power generation facilities in Canada and the United States. The company generates electricity from various energy sources, including natural and landfill gas, coal, wind, waste heat, solid fuels, and solar. It owns approximately 5,100 megawatts of power generation capacity. The company was founded in 1891 and is headquartered in Edmonton, Canada.
Details
| Name: | Capital Power Corporation |
| CPX | |
| Exchange: | TSX |
| Founded: | 1891 |
| CA$3,204,166,040 | |
| 102,173,662 | |
| Website: | http://www.capitalpower.com |
| Address: |
Capital Power Corporation 10423-101 Street NW, Suite 1200, Edmonton, Alberta, T5H 0E9, Canada |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| TSX | CPX | Common Shares | The Toronto Stock Exchange | CA | CAD | 24. Jun 2009 | |
| OTCPK | CPXW.F | Common Shares | Pink Sheets LLC | US | USD | 24. Jun 2009 | |
| DB | 2CP | Common Shares | Deutsche Boerse AG | DE | EUR | 24. Jun 2009 | |
| TSX | CPX.PRG | PFD SHS SER 7 | The Toronto Stock Exchange | CA | CAD | 04. Oct 2016 | |
| TSX | CPX.PRI | PFD SHS SER 9 | The Toronto Stock Exchange | CA | CAD | 09. Aug 2017 |
Number of employees
Current staff
Industry
| Independent Power Producers and Energy Traders | |
| Utilities |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/04/17 00:29 |
| End of day share price update: | 2019/04/16 00:00 |
| Last estimates confirmation: | 2019/04/12 |
| Last earnings filing: | 2019/02/19 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
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.
