NYSE:FUN

Stock Analysis Report

Executive Summary

Cedar Fair, L.P. owns and operates amusement and water parks, and hotels in the United States and Canada.

Snowflake

Risks

  • Cedar Fair is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.

Similar Companies

Share Price & News

How has Cedar Fair's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-5.8%

NYSE:FUN

2.7%

US Hospitality

1.3%

US Market


1 Year Return

1.5%

NYSE:FUN

0.2%

US Hospitality

2.0%

US Market

FUN outperformed the Hospitality industry which returned 0.1% over the past year.

FUN matched the United States of America Market (1.7%) over the past year.


Share holder returns

FUNIndustryMarket
7 Day-5.8%2.7%1.3%
30 Day2.4%6.7%3.9%
90 Day7.1%3.2%3.4%
1 Year8.9%1.5%2.6%0.2%4.2%2.0%
3 Year7.2%-10.2%49.0%39.1%47.2%37.6%
5 Year57.3%17.6%42.7%27.4%60.5%42.9%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Cedar Fair undervalued based on future cash flows and its price relative to the stock market?

17.83x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Cedar Fair's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

Cedar Fair's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

Cedar Fair is good value based on earnings compared to the US Hospitality industry average.

Cedar Fair is good value based on earnings compared to the United States of America market.


Price Based on Expected Growth

Cedar Fair is poor value based on expected growth next year.


Price Based on Value of Assets

Cedar Fair has negative assets, we can't compare the value of its assets to the US Hospitality industry average.

Future Growth

How is Cedar Fair expected to perform in the next 1 to 3 years based on estimates from 9 analysts?

7.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Cedar Fair's revenue is expected to grow by 3.8% yearly, however this is not considered high growth (20% yearly).

Cedar Fair's earnings are expected to grow by 7.3% yearly, however this is not considered high growth (20% yearly).

Cedar Fair's revenue growth is positive but not above the United States of America market average.

Cedar Fair's earnings growth is positive but not above the United States of America market average.

Cedar Fair's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Cedar Fair is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).

Past Performance

How has Cedar Fair performed over the past 5 years?

9.5%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Cedar Fair's year on year earnings growth rate has been positive over the past 5 years.

Cedar Fair's 1-year earnings growth is negative, it can't be compared to the 5-year average.

Cedar Fair's 1-year earnings growth is negative, it can't be compared to the US Hospitality industry average.


Return on Equity

It is difficult to establish if Cedar Fair has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) due to its liabilities exceeding its assets.


Return on Assets

Cedar Fair used its assets more efficiently than the US Hospitality industry average last year based on Return on Assets.


Return on Capital Employed

Cedar Fair's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).

Financial Health

How is Cedar Fair's financial position?


Financial Position Analysis

Cedar Fair is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Cedar Fair's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

Cedar Fair has negative shareholder equity (liabilities exceed assets), this is a more serious situation compared with a high debt level.

Irrelevant to check if Cedar Fair's debt level has increased considering it has negative shareholder equity.

Debt is not well covered by operating cash flow (16.7%, less than 20% of total debt).

Interest payments on debt are not well covered by earnings (EBIT is 2.7x annual interest expense, ideally 3x coverage).


Balance Sheet

High level of physical assets or inventory.

Cedar Fair has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.

Dividend

What is Cedar Fair's current dividend yield, its reliability and sustainability?

7.07%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Cedar Fair's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).

Cedar Fair's dividend is above the markets top 25% of dividend payers in United States of America (3.67%).

Dividends per share have been volatile in the past 10 years (annual drop of over 20%).

Dividends per share have increased over the past 10 years.


Current Payout to Shareholders

Dividends paid are not well covered by earnings (0.8x coverage).


Future Payout to Shareholders

Dividends after 3 years are not well covered by earnings (1x coverage).

Management

What is the CEO of Cedar Fair's salary, the management and board of directors tenure and is there insider trading?

7.6yrs

Average management tenure


CEO

Richard Zimmerman (58yo)

1.7yrs

Tenure

US$3,691,327

Compensation

Mr. Richard A. Zimmerman has been Chief Executive Officer Cedar Fair Management, Inc. and Director at General Partner of Cedar Fair, L.P. since January 01, 2018 and has been its President since October 26, ...


CEO Compensation Analysis

Richard's remuneration is about average for companies of similar size in United States of America.

Richard's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

7.6yrs

Average Tenure

54yo

Average Age

The average tenure for the Cedar Fair management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

6.3yrs

Average Tenure

58yo

Average Age

The tenure for the Cedar Fair board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Recent Insider Transactions

BuyUS$293,52020 Dec 18
Richard Zimmerman
EntityIndividual
Role
Chief Executive Officer
President
Shares6,000
Max PriceUS$48.92
BuyUS$768,00006 Nov 18
Daniel Hanrahan
EntityIndividual
Role
Member of the Board of Directors
Director of Cedar Fair Management Inc.
Shares15,000
Max PriceUS$51.20
BuyUS$1,019,60006 Nov 18
Thomas Klein
EntityIndividual
Shares20,000
Max PriceUS$50.98
BuyUS$102,88006 Nov 18
Eric Affeldt
EntityIndividual
Shares2,000
Max PriceUS$51.44

Ownership Breakdown


Management Team

  • Brian Witherow (52yo)

    Executive VP & CFO of Cedar Fair Management Inc.

    • Tenure: 7.7yrs
    • Compensation: US$1.94m
  • Tim Fisher (58yo)

    Chief Operating Officer of Cedar Fair Management Inc.

    • Tenure: 1.8yrs
    • Compensation: US$2.21m
  • Stacy Frole (41yo)

    Corporate VP

    • Tenure: 0yrs
  • Matt Ouimet (61yo)

    Executive Chairman of Cedar Fair Management Inc.

    • Tenure: 1.7yrs
    • Compensation: US$4.44m
  • Richard Zimmerman (58yo)

    President

    • Tenure: 1.7yrs
    • Compensation: US$3.69m
  • Duff Milkie (53yo)

    Executive VP

    • Tenure: 11.6yrs
    • Compensation: US$1.49m
  • Dave Hoffman (50yo)

    Senior VP & Chief Accounting Officer of Cedar Fair Management

    • Tenure: 7.7yrs
    • Compensation: US$344.80k
  • Scott Tanner

    Corporate Vice President of Sales - Cedar Fair Management Co.

    • Tenure: 7.9yrs
  • Kelley Semmelroth (54yo)

    Executive VP & Chief Marketing Officer of Cedar Fair Management Inc.

    • Tenure: 7.6yrs
    • Compensation: US$1.22m
  • Craig Heckman (55yo)

    Senior Vice President of Human Resources - Cedar Fair Management. Inc

    • Tenure: 2.7yrs

Board Members

  • Gina France (60yo)

    Director of Cedar Fair Management Inc.

    • Tenure: 8.2yrs
    • Compensation: US$225.00k
  • David Olivet (57yo)

    Director of Cedar Fair Management Inc.

    • Tenure: 6.3yrs
    • Compensation: US$204.98k
  • Debra Smithart-Oglesby (64yo)

    Lead Independent Director of Cedar Fair Management Inc.

    • Tenure: 1.7yrs
    • Compensation: US$250.00k
  • Lauri Shanahan (56yo)

    Director of Cedar Fair Management Inc.

    • Tenure: 7.3yrs
    • Compensation: US$208.90k
  • Dan Hanrahan (62yo)

    Director of Cedar Fair Management Inc.

    • Tenure: 7.3yrs
    • Compensation: US$212.77k
  • Matt Ouimet (61yo)

    Executive Chairman of Cedar Fair Management Inc.

    • Tenure: 1.7yrs
    • Compensation: US$4.44m
  • Richard Zimmerman (58yo)

    President

    • Tenure: 1.7yrs
    • Compensation: US$3.69m
  • Carlos Ruisanchez (48yo)

    Director of Cedar Fair Management Inc.

    • Tenure: 0.3yrs
  • John Scott (54yo)

    Director of Cedar Fair Management Inc.

    • Tenure: 9.3yrs
    • Compensation: US$208.10k

Company Information

Cedar Fair, L.P.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Cedar Fair, L.P.
  • Ticker: FUN
  • Exchange: NYSE
  • Founded: 1983
  • Industry: Leisure Facilities
  • Sector: Consumer Services
  • Market Cap: US$3.056b
  • Shares outstanding: 56.60m
  • Website: https://www.cedarfair.com

Number of Employees


Location

  • Cedar Fair, L.P.
  • One Cedar Point Drive
  • Sandusky
  • Ohio
  • 44870
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FUNNYSE (New York Stock Exchange)YesLimited Partnership UnitsUSUSDApr 1987
7CFDB (Deutsche Boerse AG)YesLimited Partnership UnitsDEEURApr 1987

Biography

Cedar Fair, L.P. owns and operates amusement and water parks, and hotels in the United States and Canada. The company operates approximately 11 amusement parks, 2 outdoor water parks, 1 indoor water park,  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/15 23:33
End of Day Share Price2019/09/13 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.