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CoreCivic

NYSE:CXW
Snowflake Description

Undervalued second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CXW
NYSE
$2B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

CoreCivic is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. The last earnings update was 68 days ago. More info.


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  • CoreCivic has significant price volatility in the past 3 months.
CXW Share Price and Events
7 Day Returns
-11%
NYSE:CXW
-0.9%
US REITs
1.1%
US Market
1 Year Returns
-28%
NYSE:CXW
9.9%
US REITs
4.7%
US Market
CXW Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
CoreCivic (CXW) -11% -26.6% -14.9% -28% -46.6% -47.2%
US REITs -0.9% -0.2% 4.6% 9.9% 4.2% 24.4%
US Market 1.1% 4.3% 2.9% 4.7% 37.7% 43.6%
1 Year Return vs Industry and Market
  • CXW underperformed the REITs industry which returned 9.9% over the past year.
  • CXW underperformed the Market in United States of America which returned 4.7% over the past year.
Price Volatility
CXW
Industry
5yr Volatility vs Market

Value

 Is CoreCivic 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 CoreCivic 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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for CoreCivic.

NYSE:CXW Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Funds From Operations
Levered Funds From Operations Average of 0 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:CXW
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.48
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.476 (1 + (1- 21%) (92.3%))
0.882
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.88
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.882 * 5.96%)
7.99%

Discounted Cash Flow Calculation for NYSE:CXW using 2 Stage Free Cash Flow to Equity using Funds From Operations Model

The calculations below outline how an intrinsic value for CoreCivic 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.

CoreCivic is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NYSE:CXW DCF 1st Stage: Next 10 year cash flow forecast
Funds From Operations (FFO) (USD, Millions) Source Present Value
Discounted (@ 7.99%)
2020 287.31 Est @ 3.98% 266.07
2021 297.67 Est @ 3.61% 255.27
2022 307.62 Est @ 3.34% 244.30
2023 317.34 Est @ 3.16% 233.38
2024 326.96 Est @ 3.03% 222.67
2025 336.57 Est @ 2.94% 212.27
2026 346.25 Est @ 2.88% 202.23
2027 356.06 Est @ 2.83% 192.58
2028 366.04 Est @ 2.8% 183.34
2029 376.22 Est @ 2.78% 174.50
Present value of next 10 years cash flows $2,186.61
NYSE:CXW DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $376.22 × (1 + 2.73%) ÷ (7.99% – 2.73%)
$7,354.23
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $7,354.23 ÷ (1 + 7.99%)10
$3,411.06
NYSE:CXW Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $2,186.61 + $3,411.06
$5,597.66
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $5,597.66 / 119.07
$47.01
NYSE:CXW Discount to Share Price
Calculation Result
Value per share (USD) From above. $47.01
Current discount Discount to share price of $17.47
= -1 x ($17.47 - $47.01) / $47.01
62.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price CoreCivic is available for.
Intrinsic value
>50%
Share price is $17.47 vs Future cash flow value of $47.01
Current Discount Checks
For CoreCivic to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • CoreCivic's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • CoreCivic'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 CoreCivic's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are CoreCivic's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:CXW PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $1.44
NYSE:CXW Share Price ** NYSE (2019-07-16) in USD $17.47
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 33.29x
United States of America Market PE Ratio Median Figure of 3,084 Publicly-Listed Companies 17.98x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of CoreCivic.

NYSE:CXW PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:CXW Share Price ÷ EPS (both in USD)

= 17.47 ÷ 1.44

12.14x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • CoreCivic is good value based on earnings compared to the US REITs industry average.
  • CoreCivic is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does CoreCivic's expected growth come at a high price?
Raw Data
NYSE:CXW PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.14x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-12.7%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 1.86x
United States of America Market PEG Ratio Median Figure of 2,125 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for CoreCivic, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on CoreCivic's assets?
Raw Data
NYSE:CXW PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $11.61
NYSE:CXW Share Price * NYSE (2019-07-16) in USD $17.47
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.81x
United States of America Market PB Ratio Median Figure of 5,240 Publicly-Listed Companies 1.81x
NYSE:CXW PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:CXW Share Price ÷ Book Value per Share (both in USD)

= 17.47 ÷ 11.61

1.5x

* Primary Listing of CoreCivic.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • CoreCivic is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess CoreCivic's value by looking at:
  1. 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. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. CoreCivic 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.

Future Performance

 How is CoreCivic expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover CoreCivic, future earnings growth has been estimated based on fundamentals.
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!
Annual Growth Rate
-12.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is CoreCivic expected to grow at an attractive rate?
  • CoreCivic's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • CoreCivic's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Unable to compare CoreCivic's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NYSE:CXW Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:CXW Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -12.7%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 6.1%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.1%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.5%

*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
Raw Data
NYSE:CXW Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:CXW Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
NYSE:CXW Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 1,879 292 171
2018-12-31 1,836 323 159
2018-09-30 1,794 362 159
2018-06-30 1,774 342 159
2018-03-31 1,761 358 166
2017-12-31 1,765 341 178
2017-09-30 1,789 338 197
2017-06-30 1,821 345 212
2017-03-31 1,848 347 224
2016-12-31 1,850 375 220
2016-09-30 1,833 395 208
2016-06-30 1,819 398 203

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • CoreCivic's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if CoreCivic is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:CXW 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 0 Analyst Estimates (S&P Global) See Below

All data from CoreCivic Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:CXW Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
NYSE:CXW Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.44
2018-12-31 1.34
2018-09-30 1.34
2018-06-30 1.35
2018-03-31 1.40
2017-12-31 1.51
2017-09-30 1.67
2017-06-30 1.80
2017-03-31 1.90
2016-12-31 1.87
2016-09-30 1.77
2016-06-30 1.73

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if CoreCivic will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess CoreCivic's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
CoreCivic 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.

Past Performance

  How has CoreCivic 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
Below we compare CoreCivic's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • CoreCivic's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • CoreCivic's 1-year earnings growth exceeds its 5-year average (3% vs -4.1%)
  • CoreCivic's earnings growth has not exceeded the US REITs industry average in the past year (3% vs 16%).
Earnings and Revenue History
CoreCivic's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from CoreCivic Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:CXW Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,878.91 170.77 108.24
2018-12-31 1,835.77 159.21 103.77
2018-09-30 1,794.15 159.31 103.34
2018-06-30 1,774.27 159.49 106.56
2018-03-31 1,760.73 165.77 105.44
2017-12-31 1,765.50 178.04 105.29
2017-09-30 1,789.06 197.39 103.44
2017-06-30 1,821.15 211.55 102.84
2017-03-31 1,848.08 223.66 103.79
2016-12-31 1,849.79 219.92 105.44
2016-09-30 1,833.49 207.83 106.77
2016-06-30 1,818.51 203.16 104.16
2016-03-31 1,814.47 210.88 99.90
2015-12-31 1,793.09 221.85 100.29
2015-09-30 1,768.73 203.26 101.91
2015-06-30 1,717.25 210.13 104.46
2015-03-31 1,668.65 200.56 107.91
2014-12-31 1,646.87 195.02 106.43
2014-09-30 1,654.49 212.49 102.91
2014-06-30 1,667.49 207.45 98.15
2014-03-31 1,681.80 174.88 96.95
2013-12-31 1,694.30 304.59 92.49
2013-09-30 1,690.87 302.38 101.45
2013-06-30 1,705.13 292.11 100.59
2013-03-31 1,705.08 306.37 98.33
2012-12-31 1,723.66 156.97 88.94
2012-09-30 1,733.06 153.07 91.94

*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.
  • CoreCivic has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • CoreCivic used its assets more efficiently than the US REITs industry average last year based on Return on Assets.
  • CoreCivic's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess CoreCivic's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
CoreCivic 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.

Health

 How is CoreCivic'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 CoreCivic's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • CoreCivic is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • CoreCivic's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of CoreCivic's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x 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.
Raw Data

All data from CoreCivic Company Filings, last reported 3 months ago.

NYSE:CXW Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,382.41 1,843.56 20.50
2018-12-31 1,415.06 1,801.68 52.80
2018-09-30 1,422.08 1,764.98 93.63
2018-06-30 1,427.92 1,493.97 71.37
2018-03-31 1,434.21 1,469.69 56.40
2017-12-31 1,451.61 1,447.19 52.18
2017-09-30 1,458.68 1,421.21 42.74
2017-06-30 1,463.34 1,417.20 46.58
2017-03-31 1,463.16 1,431.18 43.16
2016-12-31 1,458.96 1,445.17 37.71
2016-09-30 1,444.19 1,428.91 42.73
2016-06-30 1,444.63 1,455.64 70.84
2016-03-31 1,446.46 1,406.38 54.82
2015-12-31 1,462.75 1,452.08 65.29
2015-09-30 1,473.88 1,320.00 78.40
2015-06-30 1,481.16 1,238.00 41.07
2015-03-31 1,473.62 1,240.00 74.02
2014-12-31 1,481.50 1,190.46 74.39
2014-09-30 1,502.29 1,240.00 48.85
2014-06-30 1,499.63 1,195.00 46.62
2014-03-31 1,499.02 1,195.00 52.68
2013-12-31 1,502.51 1,205.00 77.91
2013-09-30 1,506.95 1,185.00 70.09
2013-06-30 1,501.19 1,150.00 37.88
2013-03-31 1,661.90 1,016.95 60.33
2012-12-31 1,521.62 1,111.55 62.80
2012-09-30 1,492.08 1,131.15 59.24
  • CoreCivic's level of debt (133.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (79.7% vs 133.4% today).
  • Debt is not well covered by operating cash flow (15.9%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.3x coverage).
X
Financial health checks
We assess CoreCivic's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. CoreCivic has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. 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.

Dividends

 What is CoreCivic'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
Dividend payments
10.07%
Current annual income from CoreCivic dividends.
If you bought $2,000 of CoreCivic shares you are expected to receive $201 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • CoreCivic's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.42%).
  • CoreCivic's dividend is above the markets top 25% of dividend payers in United States of America (3.73%).
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.
Raw Data
NYSE:CXW Annualized Past and Future Dividends
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 0 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 185 Stocks 3.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2017 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:CXW Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
NYSE:CXW Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-16 1.760 8.207
2019-02-21 1.760 8.641
2018-12-13 1.720 8.894
2018-08-16 1.720 7.325
2018-05-11 1.720 7.466
2018-02-22 1.720 8.309
2017-12-07 1.680 7.612
2017-08-10 1.680 6.706
2017-05-11 1.680 5.859
2017-02-17 1.680 5.101
2016-12-08 1.680 6.222
2016-08-11 2.160 12.860
2016-05-13 2.160 6.605
2016-02-19 2.160 6.934
2015-12-10 2.160 7.919
2015-08-13 2.160 7.559
2015-05-14 2.160 6.290
2015-02-20 2.160 5.535
2015-02-11 2.040 5.113
2014-02-27 1.970 5.702
2014-02-12 1.970 6.036
2013-02-22 2.120 6.070
2012-11-06 0.800 2.231
2012-08-20 0.800 2.376
2012-02-27 0.800 2.860

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • CoreCivic has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but CoreCivic only paid a dividend in the past 7 years.
Current Payout to shareholders
What portion of CoreCivic's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.3x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess CoreCivic's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can CoreCivic afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. CoreCivic has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Damon Hininger
COMPENSATION $4,117,669
AGE 49
TENURE AS CEO 9.8 years
CEO Bio

Mr. Damon T. Hininger serves as the Chief Executive Officer and President at CCA TRS, LLC. Mr. Hininger has been the Chief Executive Officer and Director of CoreCivic, Inc. (formerly known as Corrections Corporation of America) since August 2009 and has been its President since July 2008. Previously, he served as the Chief Operating Officer from July 2008 to August 2009, Senior Vice President of Federal and Local Customer Relations since September 2007 until July 2008, Vice President of Federal and Local Customer Relations since June 2002 and Vice President of Business Analysis since December 2000 at the firm. Mr. Hininger also served as a Director of Strategic Planning and Director Proposal Development at the firm. He joined the firm in 1992 as a Correctional Officer and was promoted to Training Manager in 1994. He was also selected as both Central Arizona Detention Center's and firm's company-wide Employee of the Year. He joined the corporate office in 1995, serving as Manager, Facility Start Up for three years. He has been a Director of Nashville Area Chamber Of Commerce since July 03, 2014. Mr. Hininger earned an MBA from the Jack Massey Graduate School of Business at Belmont University in Nashville, Tennessee and a BS from Kansas State University.

CEO Compensation
  • Damon's compensation has increased by more than 20% in the past year whilst earnings grew less than 20%.
  • Damon's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the CoreCivic management team in years:

4.7
Average Tenure
49
Average Age
  • The tenure for the CoreCivic management team is about average.
Management Team

Damon Hininger

TITLE
President
COMPENSATION
$4M
AGE
49
TENURE
9.8 yrs

Dave Garfinkle

TITLE
Executive VP & CFO
COMPENSATION
$2M
AGE
51
TENURE
5.2 yrs

Tony Grande

TITLE
Executive VP & Chief Development Officer
COMPENSATION
$2M
AGE
49
TENURE
11.8 yrs

Lucibeth Mayberry

TITLE
Executive Vice President of Real Estate
COMPENSATION
$2M
AGE
47
TENURE
4.2 yrs

Patrick Swindle

TITLE
Executive VP & Chief Corrections Officer
COMPENSATION
$2M
AGE
44
TENURE
1.5 yrs

John Pfeiffer

TITLE
Chief Information Officer & VP of Technology
TENURE
16.9 yrs

Cameron Hopewell

TITLE
Managing Director of Investor Relations

Ben Elrod

TITLE
Vice President of Compensation
TENURE
2.1 yrs

Cole Carter

TITLE
Senior VP
AGE
50
TENURE
1 yrs

Steve Owen

TITLE
Managing Director of Communications
Board of Directors Tenure

Average tenure and age of the CoreCivic board of directors in years:

8.8
Average Tenure
64
Average Age
  • The tenure for the CoreCivic board of directors is about average.
Board of Directors

Mark Emkes

TITLE
Chairman of the Board
COMPENSATION
$314K
AGE
66
TENURE
3.2 yrs

Damon Hininger

TITLE
President
COMPENSATION
$4M
AGE
49
TENURE
9.9 yrs

John Prann

TITLE
Director
COMPENSATION
$229K
AGE
68
TENURE
18.6 yrs

Charles Overby

TITLE
Director
COMPENSATION
$237K
AGE
73
TENURE
17.6 yrs

Thurgood Marshall

TITLE
Director
COMPENSATION
$237K
AGE
63
TENURE
16.6 yrs

Donna Alvarado

TITLE
Director
COMPENSATION
$227K
AGE
70
TENURE
15.6 yrs

Harley Lappin

TITLE
Director
COMPENSATION
$2M
AGE
63
TENURE
1.5 yrs

Anne Mariucci

TITLE
Director
COMPENSATION
$218K
AGE
61
TENURE
7.6 yrs

Bob Dennis

TITLE
Director
COMPENSATION
$209K
AGE
65
TENURE
6.4 yrs

Stacia Hylton

TITLE
Director
COMPENSATION
$235K
AGE
59
TENURE
2.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
01. Apr 19 Sell Thurgood Marshall Individual 29. Mar 19 29. Mar 19 -7,200 $19.30 $-138,960
01. Mar 19 Sell Damon Hininger Individual 01. Mar 19 01. Mar 19 -21,251 $20.69 $-439,641
04. Sep 18 Sell Thurgood Marshall Individual 30. Aug 18 30. Aug 18 -2,100 $25.95 $-54,503
14. Aug 18 Sell Kimberly White Individual 13. Aug 18 13. Aug 18 -10,000 $25.11 $-251,060
14. Aug 18 Sell Harley Lappin Individual 10. Aug 18 10. Aug 18 -15,597 $25.49 $-397,600
X
Management checks
We assess CoreCivic's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. CoreCivic 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.

News

Simply Wall St News

When Should You Buy CoreCivic, Inc. (NYSE:CXW)?

Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price. … Great news for investors – CoreCivic is still trading at a fairly cheap price. … Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price.

Simply Wall St -

How Many CoreCivic, Inc. (NYSE:CXW) Shares Do Institutions Own?

Our analysis of the ownership of the company, below, shows that institutional investors have bought into the company. … Check out our latest analysis for CoreCivic NYSE:CXW Ownership Summary, June 21st 2019 What Does The Institutional Ownership Tell Us About CoreCivic? … Insider Ownership Of CoreCivic The definition of company insiders can be subjective, and does vary between jurisdictions.

Simply Wall St -

Is CoreCivic, Inc. (NYSE:CXW) At Risk Of Cutting Its Dividend?

Dividend Volatility From the perspective of an income investor who wants to earn dividends for many years, there is not much point buying a stock if its dividend is regularly cut or is not reliable. … Conclusion To summarise, shareholders should always check that CoreCivic's dividends are affordable, that its dividend payments are relatively stable, and that it has decent prospects for growing its earnings and dividend. … CoreCivic's is paying out more than half its income as dividends, but at least the dividend is covered by both reported earnings and cashflow.

Simply Wall St -

Should You Be Pleased About The CEO Pay At CoreCivic, Inc.'s (NYSE:CXW)

Check out our latest analysis for CoreCivic How Does Damon Hininger's Compensation Compare With Similar Sized Companies? … is worth US$2.6b, and total annual CEO compensation is US$4.1m. … While we always look at total compensation first, we note that the salary component is less, at US$926k.

Simply Wall St -

Is CoreCivic, Inc.'s (NYSE:CXW) ROE Of 12% Impressive?

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for CoreCivic: 12% = US$171m ÷ US$1.4b (Based on the trailing twelve months to March 2019.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … Does CoreCivic Have A Good Return On Equity? … Combining CoreCivic's Debt And Its 12% Return On Equity CoreCivic clearly uses a significant amount of debt to boost returns, as it has a debt to equity ratio of 1.39.

Simply Wall St -

How Many CoreCivic, Inc. (NYSE:CXW) Shares Have Insiders Sold, In The Last Year?

So shareholders might well want to know whether insiders have been buying or selling shares in CoreCivic, Inc. … In the last twelve months, the biggest single sale by an insider was when the President, Damon Hininger, sold US$440k worth of shares at a price of US$20.69 per share. … That means that an insider was selling shares at around the current price of US$20.44

Simply Wall St -

Does CoreCivic, Inc. (NYSE:CXW) Have A Particularly Volatile Share Price?

(NYSE:CXW), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market.

Simply Wall St -

The CoreCivic (NYSE:CXW) Share Price Is Down 38% So Some Shareholders Are Getting Worried

(NYSE:CXW) share price has gained 11% in the last three months. … In fact, the share price is down 38%, which falls well short of the return you could get by buying an index fund. … During the five years over which the share price declined, CoreCivic's earnings per share (EPS) dropped by 14% each year.

Simply Wall St -

What Kind Of Shareholder Owns Most CoreCivic, Inc. (NYSE:CXW) Stock?

Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. … CoreCivic has a market capitalization of US$2.3b, so we would expect some institutional investors to have noticed the stock. … institutional investors have bought into the company.

Simply Wall St -

Should You Be Pleased About The CEO Pay At CoreCivic, Inc.'s (NYSE:CXW)

In 2009 Damon Hininger was appointed CEO of CoreCivic, Inc. … This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Damon Hininger's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Company Info

Description

CoreCivic is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through corrections and detention management, a growing network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions. We are a publicly traded real estate investment trust (REIT) and the nation’s largest owner of partnership correctional, detention and residential reentry facilities. We also believe we are the largest private owner of real estate used by U.S. government agencies. The Company has been a flexible and dependable partner for government for more than 35 years. Our employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good.

Details
Name: CoreCivic, Inc.
CXW
Exchange: NYSE
Founded: 1983
$2,080,115,985
119,067,887
Website: http://www.corecivic.com
Address: CoreCivic, Inc.
10 Burton Hills Boulevard,
Nashville,
Tennessee, 37215,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE CXW Common Shares New York Stock Exchange US USD 15. Jul 1997
DB PSRA Common Shares Deutsche Boerse AG DE EUR 15. Jul 1997
Number of employees
Current staff
Staff numbers
13,890
CoreCivic employees.
Industry
Specialized REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/16 23:34
End of day share price update: 2019/07/16 00:00
Last estimates confirmation: 2019/02/19
Last earnings filing: 2019/05/09
Last earnings reported: 2019/03/31
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.