CCC  Calgon Carbon Corporation

Exchange

NYSE

Sector

Basic Industries

Industry

Major Chemicals

Market Cap.

822.80M

Vuru Grade

36.74/100

Current Price

$16.25
+0.00 (+0.00%)

Growth Price

$8.75
Overvalued by 46.16%

Company Metrics

  • P/E 30.15
  • P/S 1.62
  • P/B 1.9
  • EPS 0.54
  • Cash ROIC 2.32%
  • Cash Ratio 0.67
  • Dividend 0.2 / 1.25%
  • Avg. Vol. 223,562.00
  • Shares 50.63M
  • Market Cap. 822.80M

Company Description

Calgon Carbon Corporation provides services, products, and solutions for purifying water, air, food, beverage, and industrial process streams in the United States and internationally. The company operates through three segments: Activated Carbon and Service, Equipment, and Consumer. The Activated Carbon and Service segment manufactures granular and powdered activated carbon for use in applications... more


Download 10 Years of Financial Statements:
Income Statement   Balance Sheet   Cash Flow

News

Calgon Carbon Schedules Fourth Quarter 2016 Results Conference Call and Webcast
Business Wire (press release) - Feb 17, 2017
PITTSBURGH--(BUSINESS WIRE)--Calgon Carbon Corporation (NYSE: CCC) today announced that it will host a conference call and live webcast on Friday, February 24, 2016, at 9:00 a.m.
The Municipal Employees Retirement System of Michigan Has $171000 Stake in ... - DailyQuint
Calgon Carbon Corporation: Benefitting From Government Regulation
Seeking Alpha - Aug 4, 2016
Calgon Carbon Corporation (CCC:NYSE) is a global company that develops, manufactures, and supplies active carbon, other media, and treatment systems to: clean drinking water, improve waste reuse or disposal efforts, remove contaminates from air ...
Calgon Carbon Corporation Declares Regular Quarterly Dividend of $0.05 Per Share
Business Wire (press release) - Feb 16, 2017
PITTSBURGH--(BUSINESS WIRE)--The Board of Directors of Calgon Carbon Corporation (NYSE: CCC) has declared a quarterly dividend of $0.05 per share on its common stock payable on March 15, 2017, to stockholders of record on March 6, 2017.
Calgon Carbon Corporation (CCC) to Release Quarterly Earnings on Friday - The Cerbat Gem
Calgon Carbon: Good Growth In A Sleepy Industry
Seeking Alpha - Jan 22, 2015
Calgon Carbon Corporation (NYSE:CCC) provides purification solutions for drinking water, wastewater, pollution abatement and a variety of industrial and commercial manufacturing processes.
Option Market: Calgon Carbon Corporation Risk Hits An Unsually High Level
CML News - 13 hours ago
We're going to look at a proprietary risk rating for the next 30-days built by Capital Market Laboratories (CMLviz) based on a large number of interactions of data points, many of which come directly from the option market for Calgon Carbon Corporation ...
The 172604 Shares in Calgon Carbon Corporation (CCC) Acquired by Nicholas ... - DailyQuint
Menta Capital LLC Lowers Stake in Calgon Carbon Corporation (CCC) - Sports Perspectives
Calgon Carbon Corporation (CCC) Moves Lower on Volume Spike for January 27
Equities.com - Jan 27, 2017
Calgon Carbon Corporation (CCC) traded on unusually high volume on Jan. 27, as the stock lost 2.19% to close at $15.65. On the day, Calgon Carbon Corporation saw 356,938 shares trade hands on 2,521 trades. Considering that the stock averages only a ...
Calgon Carbon Corporation (NYSE:CCC) Receives An Update From Brokers - The De Soto Edge
Next Weeks Broker Price Targets For Calgon Carbon Corporation (NYSE:CCC) - Fiscal Standard
Calgon Carbon inks deal to buy European company's activated carbon unit
Pittsburgh Business Times (blog) - Aug 5, 2016
Calgon Carbon Corp. announced Friday it had reached a purchase agreement to acquire the carbon and filter business of France's Arkema Group after making a bid for it back in mid-April.
Calgon Carbon income, sales fall - Pittsburgh Post-Gazette
Calgon Carbon Corporation Common Stock Quote & Summary Data
Nasdaq - Aug 18, 2011
Calgon Carbon Corporation (the Company) is a global leader in the manufacture, supply, reactivation, and application of activated carbons and the manufacture of ballast water treatment (BWT), ultraviolet (UV) light disinfection, and advanced ion ...
A New Kind of Stock Chart: Calgon Carbon Corporation (NYSE:CCC) Critical Pivot ...
CML News - Feb 21, 2017
This is a real time view of the critical technical pivot points for Calgon Carbon Corporation (NYSE:CCC) . The technical pivot points we look at all surround the stock price movement from the last 10-trading days through the last year.
Levels in Review for Calgon Carbon Corporation (NYSE:CCC)
Baldwin Journal - 7 hours ago
Calgon Carbon Corporation (NYSE:CCC) currently has a 6 month price index of 1.12217. The six month price index is simply measured by dividing the current share price by the share price six months ago.
Growth Rate Assumed by Market

We did a reverse valuation to calculate the growth rate the market is assuming for CCC to be considered fairly valued at its current market price. It's useful to compare this to the growth rate we're assuming for the Growth Price.

Future Free Cash Flow Growth Rate

This is the annual growth rate we've applied to calculate CCC's Free Cash Flow for the next 10 years. To calculate it, we looked at several time periods of the last 10 years. Feel free to adjust it, but we limit the initial growth rate to 20% and slow it down over the years. Otherwise, long-term sustainability issues come into play.

Discount Rate

The discount rate is the annual rate of return an investor requires to take the risk of investing in a single stock. To account for that risk, this should be above 8-10%, as this is the avg. annual rate of return for the S&P500 over the past 100 years.

$16.25 Current Price

$8.75 Growth Price (DCF)

Overvalued by 46.16%


Growth Rate Assumed by Market: 52.06%


Future Free Cash Flow Growth Rate: 0.0%


Discount Rate: 15.0%


Show Free Cash Flow numbers

$0.89 NCA Price

Overvalued by 94.51%

$21.11 Book Price

Undervalued by 29.94%


Poor Cash Return on Invested Capital over the past 5 years

CCC has been unable to consistently generate sufficient returns from its investments in buildings, projects and equipment. This could be due to poor management, lack of an economic moat or the capital intensive nature of the business.

CCC has only created $2.32 of cash for every $100 invested.
Figures in USD. Fiscal year ends in December
20112012201320142015
Free Cash Flow -19.08M 12.00M 36.51M 20.89M 7.62M
divided by
Invested Capital 423.43M 443.96M 474.94M 493.11M 522.25M
Cash ROIC -4.51% 2.70% 7.69% 4.24% 1.46%

Satisfactory Return on Equity over the past 5 years

CCC has generated adequate returns with capital that shareholders have invested. This is sufficient and implies that management performance has been good.

CCC has generated $10.24 of Earnings for every $100 of Shareholders' Equity.
Figures in USD. Fiscal year ends in December
20112012201320142015
Net Income 39.22M 23.27M 45.71M 49.37M 43.46M
divided by
Stockholders' Equity 377.12M 351.30M 416.51M 405.47M 393.99M
Return on Equity 10.40% 6.62% 10.98% 12.18% 11.03%

Mediocre Business Performance over the past 10 years

CCC isn't a strong business and might be consistently attempting to fuel growth with debt or has trouble staying profitable. The lack of predictability in free cash flow should be concerning for the reliability of future earnings.

CCC has been unable to consistently create value for shareholders.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Free Cash Flow -18.64M 17.62M -7.44M 30.78M -13.38M -19.08M 12.00M 36.51M 20.89M 7.62M

Good Balance Sheet

CCC's Total Assets double Total Liabilities. Its financial position is adequate. Remember to check Shareholders' Equity to see if it's stable or growing. It's one of the best measures of whether a company is creating value for shareholders.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Cash 5.63M 30.30M 16.75M 38.03M 33.99M 13.57M 18.16M 32.94M 53.13M 53.63M
Current Assets 148.71M 189.68M 200.92M 221.85M 272.05M 277.94M 273.21M 281.45M 292.96M 307.73M
Total Assets 322.36M 348.14M 387.60M 425.72M 501.56M 552.99M 577.77M 590.08M 621.66M 656.52M
Current Liabilities 55.53M 119.76M 66.42M 62.02M 105.17M 115.99M 115.65M 82.20M 75.42M 80.64M
Total Liabilities 174.49M 175.89M 134.86M 118.63M 158.60M 175.87M 226.47M 173.57M 216.19M 262.53M
Stockholder' Equity 147.87M 172.25M 252.74M 307.09M 342.96M 377.12M 351.30M 416.51M 405.47M 393.99M
Current Ratio 2.68 1.58 3.03 3.58 2.59 2.40 2.36 3.42 3.88 3.82
TL-to-TA 0.54 0.51 0.35 0.28 0.32 0.32 0.39 0.29 0.35 0.40

Consistent Reinvestment of Profits over the past 10 years

CCC has consistently retained profits. This may put CCC in a strong position to invest for the future, by buying new machinery, investing in R&D or a number of other options. By effectively using these earnings, CCC can greatly improve their long-term economic picture.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Retained Earnings 94.04M 104.94M 143.19M 173.17M 208.02M 247.24M 270.51M 316.22M 365.59M 398.63M
Retained Earnings Growth - 11.59% 36.46% 20.93% 20.13% 18.86% 9.41% 16.90% 15.61% 9.04%

Competitive Industry over the past 10 years

CCC is likely operating in an industry with medium to low barriers to entry. This may mean that CCC doesn't have a characteristic that's hard to replicate, such as exclusive distribution, branding or the ability to keep costs low. If Gross Margins are at least satisfactory, it's likely that CCC invests heavily in R&D and Sales, General & Administrative expenses.

Only $6.49 of every $100 of Revenue have been profit, on average over the past 10 years.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Net Income -7.80M 15.29M 38.36M 39.16M 34.85M 39.22M 23.27M 45.71M 49.37M 43.46M
divided by
Revenue 316.12M 351.12M 400.27M 411.91M 482.34M 541.47M 562.26M 547.94M 555.10M 535.00M
Net Profit Margin -2.47% 4.35% 9.58% 9.51% 7.23% 7.24% 4.14% 8.34% 8.89% 8.12%

Satisfactory Pricing Power over the past 10 years

Consistency is vital. CCC has been able to maintain gross margins fairly consistently, which is a strong indication of their ability to raise prices with inflation. This potentially leaves flexibility in inflationary environments to raise prices on consumers and maintain profitability.

$32.54 of every $100 worth of sales have been Gross Profit, on average over the past 10 years.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Gross Profit 79.45M 108.85M 133.39M 145.31M 165.46M 177.09M 169.87M 180.98M 192.09M 191.48M
divided by
Revenue 316.12M 351.12M 400.27M 411.91M 482.34M 541.47M 562.26M 547.94M 555.10M 535.00M
Gross Margin 25.13% 31.00% 33.32% 35.28% 34.30% 32.70% 30.21% 33.03% 34.60% 35.79%

High Capital Intensity over the past 10 years

CCC spends large amounts of capital buying new equipment or investing in new facilities to stay competitive. Over the long term, those costs may have to be fuelled by debt. Look at the growth of Shareholders' Equity to see if this strategy is having a positive or negative impact.

133.83% of Profits are being spent on Capital Expenditures, like Property, Plant, & Equipment, required to run the business.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Capital Expenditure 12.86M 11.79M 33.01M 48.28M 47.19M 72.10M 60.68M 30.27M 63.46M 62.26M
divided by
Net Income -7.80M 15.29M 38.36M 39.16M 34.85M 39.22M 23.27M 45.71M 49.37M 43.46M
Capital Expenditure Ratio -164.85% 77.12% 86.05% 123.29% 135.41% 183.82% 260.74% 66.22% 128.54% 143.26%

Inconsistent Dividend History over the past 10 years

CCC has started distributing dividends in the past couple years or has recently suspended their dividend distribution. The reliability of future distributions is unclear.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Dividend Paid - - - - - - - - - 10.43M
divided by
Shares Outstanding 39.93M 50.56M 53.39M 56.53M 56.74M 56.99M 56.84M 54.67M 53.94M 52.71M
Dividend Paid Per Share - - - - - - - - - 0.20
Price at Year End 6.20 16.50 14.46 14.15 15.55 15.71 14.01 20.71 20.76 17.32
Dividend Yield - - - - - - - - - 1.14%

History of Stock Buybacks over the past 10 years

CCC has some history of delivering increased value for shareholders in the form of stock buybacks. These have helped improve financial metrics and increase each shareholders' relative ownership stake in the company, due to fewer shares outstanding and holding the same number of shares.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Shares Outstanding 39.93M 50.56M 53.39M 56.53M 56.74M 56.99M 56.84M 54.67M 53.94M 52.71M
Stock Bought Back - -21.03% -5.30% -5.56% -0.38% -0.44% 0.28% 3.96% 1.35% 2.34%
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