Loading...

You're on the old version of Simply Wall St. We will no longer be supporting this site, so we recommend you switch to our brand new platform.

Clairvest Group

TSX:CVG
Snowflake Description

Flawless balance sheet and undervalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CVG
TSX
CA$623M
Market Cap
  1. Home
  2. CA
  3. Diversified Financials
Company description

Clairvest Group Inc. is a private equity firm specializing in mid market, growth equity investments, buyouts, and consolidating industries and add-on acquisitions. The last earnings update was 47 days ago. More info.


Add to Portfolio Compare Print
  • Clairvest Group is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • Clairvest Group has significant price volatility in the past 3 months.
CVG Share Price and Events
7 Day Returns
2.5%
TSX:CVG
2.8%
CA Capital Markets
7.1%
CA Market
1 Year Returns
-14.1%
TSX:CVG
-18.5%
CA Capital Markets
-25.3%
CA Market
CVG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Clairvest Group (CVG) 2.5% -21.2% -21% -14.1% 22% 47.4%
CA Capital Markets 2.8% -24.6% -26.7% -18.5% -19.3% -20.5%
CA Market 7.1% -24.1% -26.7% -25.3% -23.4% -17.5%
1 Year Return vs Industry and Market
  • CVG outperformed the Capital Markets industry which returned -18.5% over the past year.
  • CVG outperformed the Market in Canada which returned -25.3% over the past year.
Price Volatility
CVG
Industry
5yr Volatility vs Market

CVG Value

 Is Clairvest Group 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 Clairvest Group 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 Clairvest Group.

TSX:CVG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= CA$47.18 * 15.5%
CA$7.30
Book Value of Equity per Share Median Book Value from the past 5 years. CA$47.18
Discount Rate (Cost of Equity) See below 7.6%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.4%

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 TSX:CVG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.4%
Equity Risk Premium S&P Global 5.4%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.754 (1 + (1- 26.5%) (0.62%))
1.135
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.13
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.44% + (1.135 * 5.44%)
7.61%

Discounted Cash Flow Calculation for TSX:CVG using Excess Returns Model Model

The calculations below outline how an intrinsic value for Clairvest Group is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

TSX:CVG Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (15.5% – 7.61%) * CA$47.18)
CA$3.71
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CA$3.71 / (7.61% - 1.44%)
CA$60.11
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CA$47.18 + CA$60.11
CA$107.28
TSX:CVG Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$107.28
Current discount Discount to share price of CA$41.00
= -1 x (CA$41.00 - CA$107.28) / CA$107.28
61.8%

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

Current Discount
Amount off the current price Clairvest Group is available for.
Intrinsic value
>50%
Share price is CA$41 vs Future cash flow value of CA$107.28
Current Discount Checks
For Clairvest Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Clairvest Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Clairvest Group'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 Clairvest Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Clairvest Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:CVG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CAD CA$8.06
TSX:CVG Share Price ** TSX (2020-03-27) in CAD CA$41
Canada Capital Markets Industry PE Ratio Median Figure of 15 Publicly-Listed Capital Markets Companies 7.45x
Canada Market PE Ratio Median Figure of 497 Publicly-Listed Companies 10.58x

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

** Primary Listing of Clairvest Group.

TSX:CVG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:CVG Share Price ÷ EPS (both in CAD)

= 41 ÷ 8.06

5.09x

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

  • Clairvest Group is good value based on earnings compared to the CA Capital Markets industry average.
  • Clairvest Group is good value based on earnings compared to the Canada market.
Price based on expected Growth
Does Clairvest Group's expected growth come at a high price?
Raw Data
TSX:CVG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.09x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
North America Capital Markets Industry PEG Ratio Median Figure of 39 Publicly-Listed Capital Markets Companies 1.84x
Canada Market PEG Ratio Median Figure of 234 Publicly-Listed Companies 0.69x

*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 Clairvest Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Clairvest Group's assets?
Raw Data
TSX:CVG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CAD CA$57.19
TSX:CVG Share Price * TSX (2020-03-27) in CAD CA$41
Canada Capital Markets Industry PB Ratio Median Figure of 157 Publicly-Listed Capital Markets Companies 0.82x
Canada Market PB Ratio Median Figure of 2,351 Publicly-Listed Companies 1x
TSX:CVG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:CVG Share Price ÷ Book Value per Share (both in CAD)

= 41 ÷ 57.19

0.72x

* Primary Listing of Clairvest Group.

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

  • Clairvest Group is good value based on assets compared to the CA Capital Markets industry average.
X
Value checks
We assess Clairvest Group'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 Capital Markets 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 Capital Markets industry average (and greater than 0)? (1 check)
  5. Clairvest Group 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.

CVG Future Performance

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

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Clairvest Group has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
5.8%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Clairvest Group expected to grow at an attractive rate?
  • Unable to compare Clairvest Group's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Clairvest Group's earnings growth to the Canada market average as no estimate data is available.
  • Unable to compare Clairvest Group's revenue growth to the Canada market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
TSX:CVG Future Growth Rates Data Sources
Data Point Source Value (per year)
North America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 5.8%
North America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 2.7%
Canada Market Earnings Growth Rate Market Cap Weighted Average 7.8%
Canada Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*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
TSX:CVG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:CVG Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-12-31 221 -60 122
2019-09-30 145 -104 73
2019-06-30 143 107 70
2019-03-31 204 207 119
2018-12-31 177 196 111
2018-09-30 265 276 161
2018-06-30 301 54 190
2018-03-31 208 -3 124
2017-12-31 215 30 122
2017-09-30 145 0 79
2017-06-30 102 14 47
2017-03-31 131 47 70

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Clairvest Group is high growth as no earnings estimate data is available.
  • Unable to determine if Clairvest Group 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
TSX:CVG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Clairvest Group Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:CVG Past Financials Data
Date (Data in CAD Millions) EPS *
2019-12-31 8.06
2019-09-30 4.81
2019-06-30 4.66
2019-03-31 7.87
2018-12-31 7.30
2018-09-30 10.60
2018-06-30 12.52
2018-03-31 8.15
2017-12-31 8.05
2017-09-30 5.20
2017-06-30 3.09
2017-03-31 4.61

*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 Clairvest Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Clairvest Group is trading at Clairvest Group'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. Clairvest Group's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Diversified Financials companies here
  3. Clairvest Group's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Clairvest Group'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 North America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the North 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.
Clairvest Group 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.

CVG Past Performance

  How has Clairvest Group 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 Clairvest Group's growth in the last year to its industry (Capital Markets).
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.
  • Clairvest Group has delivered over 20% year on year earnings growth in the past 5 years.
  • Clairvest Group's 1-year earnings growth is less than its 5-year average (9.9% vs 24.3%)
  • Clairvest Group's earnings growth has exceeded the CA Capital Markets industry average in the past year (9.9% vs -9.4%).
Earnings and Revenue History
Clairvest Group'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 Clairvest Group Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:CVG Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 221.02 121.62 82.15
2019-09-30 144.78 72.60 61.80
2019-06-30 143.25 70.47 62.16
2019-03-31 204.21 119.24 65.52
2018-12-31 177.37 110.69 53.83
2018-09-30 264.51 160.76 82.38
2018-06-30 301.26 189.99 87.04
2018-03-31 208.19 123.78 70.59
2017-12-31 214.71 122.42 73.76
2017-09-30 145.40 79.08 55.88
2017-06-30 102.33 46.99 48.57
2017-03-31 131.47 70.13 51.06
2016-12-31 126.94 70.12 47.13
2016-09-30 94.05 51.29 36.23
2016-06-30 80.49 43.65 33.02
2016-03-31 75.92 39.97 32.25
2015-12-31 68.68 41.71 32.13
2015-09-30 53.54 26.87 33.15
2015-06-30 103.02 50.35 46.07
2015-03-31 104.33 52.01 47.67
2014-12-31 91.48 35.22 42.74
2014-09-30 110.16 51.38 44.44
2014-06-30 86.80 43.95 38.17
2014-03-31 76.33 38.81 31.64
2013-12-31 83.67 46.67 30.43
2013-09-30 75.33 41.84 26.89
2013-06-30 54.53 30.61 19.06
2013-03-31 60.63 35.76 17.90

*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.
  • Clairvest Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Clairvest Group used its assets more efficiently than the CA Capital Markets industry average last year based on Return on Assets.
  • Clairvest Group has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Clairvest Group'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 Capital Markets 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.
Clairvest Group has a total score of 4/6, 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.

CVG Health

 How is Clairvest Group'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 Clairvest Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Clairvest Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Clairvest Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Clairvest Group'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.
  • Low level of unsold assets.
  • Clairvest Group has no debt, it does not need to be covered by short term assets.
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 Clairvest Group Company Filings, last reported 2 months ago.

TSX:CVG Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 863.34 0.00 351.10
2019-09-30 790.30 0.00 365.25
2019-06-30 776.78 0.00 352.47
2019-03-31 778.69 0.00 404.23
2018-12-31 751.51 0.00 347.11
2018-09-30 728.41 0.00 380.60
2018-06-30 715.09 0.00 145.91
2018-03-31 667.32 0.00 132.17
2017-12-31 648.70 0.00 112.89
2017-09-30 575.66 0.00 90.03
2017-06-30 533.14 0.00 89.32
2017-03-31 550.20 0.00 122.17
2016-12-31 532.94 0.00 81.61
2016-09-30 502.17 0.00 87.13
2016-06-30 492.24 0.00 81.81
2016-03-31 485.52 0.00 81.59
2015-12-31 468.26 0.15 108.84
2015-09-30 455.01 0.00 53.36
2015-06-30 452.13 0.00 111.66
2015-03-31 447.69 0.00 98.64
2014-12-31 428.69 19.15 96.47
2014-09-30 431.59 19.15 143.28
2014-06-30 405.23 2.42 105.53
2014-03-31 399.46 0.24 51.80
2013-12-31 375.70 0.00 122.43
2013-09-30 364.82 0.00 122.53
2013-06-30 350.13 0.00 143.82
2013-03-31 349.69 0.00 114.81
  • Clairvest Group has no debt.
  • Clairvest Group has no debt compared to 5 years ago when it was 4.4%.
  • Clairvest Group has no debt, it does not need to be covered by operating cash flow.
  • Clairvest Group has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Clairvest Group'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. Clairvest Group has a total score of 6/6, 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.

CVG Dividends

 What is Clairvest Group'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
1.25%
Current annual income from Clairvest Group dividends.
If you bought CA$2,000 of Clairvest Group shares you are expected to receive CA$25 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?
  • Clairvest Group's pays a lower dividend yield than the bottom 25% of dividend payers in Canada (2.75%).
  • Clairvest Group's dividend is below the markets top 25% of dividend payers in Canada (8.79%).
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
TSX:CVG 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
Canada Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 6.1%
Canada Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 4.9%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.3%
Canada Bottom 25% Dividend Yield 25th Percentile 2.7%
Canada Top 25% Dividend Yield 75th Percentile 8.8%

Industry and Market average data is calculated daily.

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

TSX:CVG Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2019-06-26 0.514 1.024
2018-06-27 0.440 0.918
2017-06-22 0.362 0.908
2016-06-23 0.319 1.017
2015-06-25 0.296 1.029
2014-06-25 0.100 0.386
2013-07-02 0.231 1.015
2012-06-27 0.209 1.053
2011-06-24 0.100 0.619
2010-06-30 0.100 0.743
2009-06-23 0.100 0.814

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

  • Clairvest Group is not paying a notable dividend for Canada, therefore no need to check if the payments are stable.
  • Clairvest Group is not paying a notable dividend for Canada, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Clairvest Group's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Clairvest Group's dividends as it is not paying a notable one for Canada.
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 Clairvest Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - 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 Clairvest Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Clairvest Group has a total score of 0/6, see the detailed checks below.


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

CVG Management

 What is the CEO of Clairvest Group'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
Ken Rotman
COMPENSATION CA$3,643,337
TENURE AS CEO 2.2 years
CEO Bio

Mr. Kenneth Brice Rotman, also known as Ken, has been the Chief Executive Officer of Clairvest Group Inc. since January 1, 2018 and serves as its Managing Director. Mr. Rotman had been Co-Chief Executive Officer at Clairvest Group Inc. since 2000 until January 1, 2018. Mr. Rotman focuses on Environmental, Oilfield, Business Services, Specialty and Aviation & Defense sectors. Mr. Rotman serves as Co-Chief Executive Officer and Managing Director of Clairvest Gp Manageco Inc. He joined the Clairvest Group in 1993 and is driving force behind the design, implementation and success of its private equity investment business. He is a Co-Founder of Wellington Financial LP and serves as its Chairman. He is personally involved in investments in the electronic security, cable television, textile manufacturing, home medical equipment, auto parts and the bottled water industries. He has extensive experience as a private equity investor. He spent just under three years at E. M. Warburg Pincus and Co. principally focusing on private equity investments in media and communications transactions in North America and the United Kingdom. He has been the Chairman of the Board at Discovery Air Inc. since July 3, 2014. He has been a Director of Discovery Air Inc. since October 14, 2011. He has been an Independent Director of Accel Entertainment, Inc. since November 20, 2019. He has been a Director of Clairvest GP Manageco Inc. and Clairvest Group Inc. since June 28, 2000. He serves as a Director of Also Energy, Inc., Top Aces Inc., NRI Industries, WarrenShepell, Wellington financial, HonestReporting Canada, The LSE North American Advisory Board, York School, The and Light Tower Rentals, Inc. Mr. Rotman served as a Board Member of the University Health Network and Integral Orthopedics, Inc. He was an Independent Director of PEER 1 Network Enterprises, Inc. since August 28, 2009. He served as a Director of Nexient Learning Inc. since December 2, 2005. Mr. Rotman served as a Director of MAG Aerospace Corp., the Canadian Opera Company, VOXCOM, Inc. and Voxcom Income Fund. He previously served on the Boards of Allied International Credit Corp., Van-Rob, Inc. (formerly Van-Rob Stampings Inc.), Hudson Valley Waste Holding, Shepell FGI LP, Consoltex Inc., Basis100, Inc., Sparkling Spring Water Group Limited, Winters Bros. Waste Systems Inc., Signature Security Group Pty Limited and Cableworks Communications Inc. (formerly, Western Co-Axial Limited). He served as a Director of LMI Legacy Holdings II Inc. and Sparkling Spring Water Holdings Limited. Mr. Rotman received an M.B.A. from New York University Stern School of Business in 1991, an M.Sc. from the London School of Economics in 1989 and B.A. in Economics from Tufts University in 1988.

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

Average tenure of the Clairvest Group management team in years:

4.4
Average Tenure
  • The tenure for the Clairvest Group management team is about average.
Management Team

Ken Rotman

TITLE
Former Co-CEO
COMPENSATION
CA$4M
TENURE
2.2 yrs

Jeff Parr

TITLE
Vice Chairman
COMPENSATION
CA$2M

Michael Wagman

TITLE
President
COMPENSATION
CA$3M
AGE
47
TENURE
2.2 yrs

Daniel Cheng

TITLE
Chief Financial Officer
COMPENSATION
CA$978K
TENURE
10.7 yrs

Mitch Green

TITLE
Managing Director
TENURE
6.6 yrs

Michael Castellarin

TITLE
MD & MD of Clairvest GP Manageco Inc
TENURE
8.6 yrs

Sebastien Dhonte

TITLE
Managing Director
TENURE
1.2 yrs

Robbie Isenberg

TITLE
Managing Director

Maria Shkolnik

TITLE
Director Investor Relations

Jim Miller

TITLE
General Counsel & Corporate Secretary
Board of Directors Tenure

Average tenure and age of the Clairvest Group board of directors in years:

15.5
Average Tenure
73
Average Age
  • The average tenure for the Clairvest Group board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Joseph Heffernan

TITLE
Chairman of the Board
COMPENSATION
CA$125K
AGE
72

Ken Rotman

TITLE
Former Co-CEO
COMPENSATION
CA$4M
TENURE
19.8 yrs

Jeff Parr

TITLE
Vice Chairman
COMPENSATION
CA$2M
TENURE
2.2 yrs

Michael Wagman

TITLE
President
COMPENSATION
CA$3M
AGE
47
TENURE
2.2 yrs

Michael Bregman

TITLE
Independent Director
COMPENSATION
CA$61K
TENURE
29 yrs

John Barnett

TITLE
Independent Director
COMPENSATION
CA$42K
AGE
74
TENURE
10.6 yrs

Lionel Schipper

TITLE
Director
COMPENSATION
CA$48K
AGE
86
TENURE
33 yrs

Issy Sharp

TITLE
Director
COMPENSATION
CA$32K
AGE
87
TENURE
32.6 yrs

G. Krediet

TITLE
Director
COMPENSATION
CA$47K
AGE
68
TENURE
15.5 yrs

Rick Watkin

TITLE
Independent Director
COMPENSATION
CA$38K
TENURE
4.6 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Clairvest Group individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
24. Mar 20 Buy Douglas Horn Individual 24. Mar 20 24. Mar 20 100 CA$40.97 CA$4,097
24. Mar 20 Buy G. Krediet Individual 17. Mar 20 17. Mar 20 200 CA$44.50 CA$8,900
23. Mar 20 Buy James Miller Individual 23. Mar 20 23. Mar 20 100 CA$40.00 CA$4,000
20. Mar 20 Buy Robert Isenberg Individual 20. Mar 20 20. Mar 20 50 CA$43.00 CA$2,150
19. Mar 20 Buy James Miller Individual 18. Mar 20 18. Mar 20 200 CA$43.00 CA$8,600
17. Mar 20 Buy Robert Isenberg Individual 16. Mar 20 16. Mar 20 300 CA$43.00 CA$12,900
06. Jan 20 Buy James Miller Individual 03. Jan 20 03. Jan 20 300 CA$51.20 CA$15,360
23. Sep 19 Buy Mohit Kansal Individual 23. Sep 19 23. Sep 19 5,000 CA$51.00 CA$255,000
23. Sep 19 Buy Robert Isenberg Individual 23. Sep 19 23. Sep 19 8,700 CA$51.00 CA$443,700
23. Sep 19 Buy Sebastien Dhonte Individual 23. Sep 19 23. Sep 19 7,500 CA$51.00 CA$382,500
23. Sep 19 Buy Douglas Horn Individual 23. Sep 19 23. Sep 19 2,200 CA$51.00 CA$112,200
23. Sep 19 Buy Adrian Pasricha Individual 23. Sep 19 23. Sep 19 7,300 CA$51.00 CA$372,300
23. Sep 19 Buy James Miller Individual 23. Sep 19 23. Sep 19 600 CA$51.00 CA$30,600
23. Sep 19 Sell Kenneth Rotman Individual 23. Sep 19 23. Sep 19 -35,900 CA$51.00 CA$-1,830,900
17. Sep 19 Buy Robert Isenberg Individual 16. Sep 19 16. Sep 19 1,400 CA$50.00 CA$70,000
05. Sep 19 Buy Kenneth Rotman Individual 05. Sep 19 05. Sep 19 6,370 CA$51.00 CA$324,867
29. Aug 19 Buy Kenneth Rotman Individual 29. Aug 19 29. Aug 19 11,000 CA$50.50 CA$555,500
22. Aug 19 Buy Kenneth Rotman Individual 21. Aug 19 21. Aug 19 27,436 CA$51.00 CA$1,399,236
04. Jun 19 Buy Robert Isenberg Individual 04. Jun 19 04. Jun 19 2,700 CA$47.36 CA$127,872
16. May 19 Buy Robert Isenberg Individual 16. May 19 16. May 19 2,600 CA$47.23 CA$122,798
14. May 19 Buy Robert Isenberg Individual 14. May 19 14. May 19 200 CA$47.21 CA$9,442
09. May 19 Buy Robert Isenberg Individual 08. May 19 09. May 19 3,750 CA$47.42 CA$177,817
09. May 19 Buy Sebastien Dhonte Individual 08. May 19 08. May 19 2,600 CA$47.25 CA$122,850
08. May 19 Buy Robert Isenberg Individual 07. May 19 07. May 19 2,000 CA$47.30 CA$94,600
X
Management checks
We assess Clairvest Group'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. Clairvest Group 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.

CVG News

Simply Wall St News

Is Clairvest Group Inc (TSE:CVG) A Buy At Its Current PE Ratio?

The content of this article will benefit those of you who are starting to educate yourself about investing in the stock market. … and want to begin learning the link between Clairvest Group Inc (TSE:CVG)’s fundamentals and stock market performance. … Clairvest Group Inc (TSE:CVG) is currently trading at a trailing P/E of 5.7x, which is lower than the industry average of 12.4x.

Simply Wall St -

Did Clairvest Group Inc's (TSE:CVG) Recent Earnings Growth Beat The Trend?

After looking at Clairvest Group Inc's (TSX:CVG) latest earnings update (31 December 2017), I found it helpful to revisit the company's performance in the past couple of years and compare this against the latest numbers. … View our latest analysis for Clairvest Group Did CVG beat its long-term earnings growth trend and its industry? … Looking at growth from a sector-level, the Canadian capital markets industry has been enduring some headwinds in the previous year, leading to an average earnings drop of -3.84%.

Simply Wall St -

June Top Undervalued Stocks

Undervalued companies are those that trade at a price lower than their actual values, such as Clairvest Group and Omni-Lite Industries Canada. … In addition to this, CVG’s PE ratio is trading at 5.71x while its Capital Markets peer level trades at, 11.94x meaning that relative to its comparable set of companies, we can buy CVG’s stock at a cheaper price today. … What’s even more appeal is that OML’s PE ratio is currently around 13.38x relative to its Machinery peer level of, 26.82x suggesting that relative to its comparable company group, you can purchase OML’s stock for a lower price right now.

Simply Wall St -

Who Are The Major Shareholders In Clairvest Group Inc (TSE:CVG)?

In this article, I'm going to take a look at Clairvest Group Inc’s (TSX:CVG) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … With this size of ownership, retail investors can collectively play a role in major company policies that affect shareholders returns, including executive remuneration and the appointment of directors. … Thus, potential investors should look into these business relations and check how it can impact long-term shareholder returns.Next Steps: With a low level of institutional ownership, investors in CVG need not worry about non-fundamental factors such as ownership structure causing large impact on stock prices.

Simply Wall St -

Is Clairvest Group Inc's (TSE:CVG) PE Ratio A Signal To Buy For Investors?

It compares a stock’s price per share to the stock’s earnings per share. … Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for CVG Price per share = CA$45.49 Earnings per share = CA$8.05 ∴ Price-Earnings Ratio = CA$45.49 ÷ CA$8.05 = 5.7x On its own, the P/E ratio doesn’t tell you much; however, it becomes extremely useful when you compare it with other similar companies. … CVG’s P/E of 5.7x is lower than its industry peers (13.1x), which implies that each dollar of CVG’s earnings is being undervalued by investors.

Simply Wall St -

Can Clairvest Group Inc (TSE:CVG) Improve Your Portfolio Returns?

Every stock in the market is exposed to this risk, which arises from macroeconomic factors such as economic growth and geo-political tussles just to name a few. … Based on this beta value, CVG appears to be a stock that an investor with a high-beta portfolio would look for to reduce risk exposure to the market. … I examine CVG’s ratio of fixed assets to total assets to see whether the company is highly exposed to the risk of this type of constraint.

Simply Wall St -

Clairvest Group Inc (TSE:CVG): Has Recent Earnings Growth Beaten Long-Term Trend?

Assessing Clairvest Group Inc's (TSX:CVG) performance as a company requires looking at more than just a years' earnings data. … Below, I will run you through a simple sense check to build perspective on how Clairvest Group is doing by comparing its most recent earnings with its historical trend, in addition to the performance of its capital markets industry peers. … Given that these values may be relatively short-term, I’ve created an annualized five-year value for CVG's earnings, which stands at CA$43.99M This means that, on average, Clairvest Group has been able to increasingly improve its net income over the last couple of years as well.

Simply Wall St -

Should You Be Concerned About Clairvest Group Inc's (TSE:CVG) Shareholders?

Today, I will be analyzing Clairvest Group Inc’s (TSX:CVG) recent ownership structure, an important but not-so-popular subject among individual investors. … Insider Ownership Another important group of shareholders are company insiders. … Thus, potential investors should look into these business relations and check how it can impact long-term shareholder returns.What this means for you: With a low level of institutional ownership, investors in CVG need not worry about non-fundamental factors such as ownership structure causing large impact on stock prices.

Simply Wall St -

What Can We Expect for Clairvest Group Inc (TSE:CVG) Moving Forward?

Clairvest Group Inc (TSX:CVG), a CADCA$705.91M small-cap, operates in the capital markets industry, which has recently been facing serious existential threats resulting from potential disintermediation and disruption from new technology. … TSX:CVG PE PEG Gauge Jan 7th 18 The capital markets industry is trading at a PE ratio of 13x, relatively similar to the rest of the Canadian stock market PE of 17x. … On the stock-level, Clairvest Group is trading at a PE ratio of 9x, which is relatively in-line with the average capital markets stock.

Simply Wall St -

Should You Worry About Clairvest Group Inc's (TSE:CVG) CEO Pay?

See our latest analysis for Clairvest Group What has been the trend in CVG's earnings? … Given earnings are moving the right way, CEO pay should echo Parr's value creation for shareholders. … Considering the size of CVG in terms of market cap, as well as its performance, using earnings as a proxy, it appears that Parr is compensated higher than other Canadian CEOs of small-caps, on average.

Simply Wall St -

CVG Company Info

Description

Clairvest Group Inc. is a private equity firm specializing in mid market, growth equity investments, buyouts, and consolidating industries and add-on acquisitions. It seeks to invest in small and mid-sized gaming and casino, local market gaming, healthcare, equipment rental, oilfield services, waste management, business services, consumer services, aerospace, automotive aftermarket, collision repair, co-packing, defense, document management, warranty, contact manufacturing, environmental services, rental services, gaming, healthcare services, insurance services, IT services, logistics and transportation, mining services, packaging, pest control, specialty aviation, education, software (mature), textile rental, utility services, water, building products, government services, industrial services, media, non-destructive testing, renewable energy, property management, and restaurants. The firm typically invests in companies based in North America including United States and Canada. It seeks to make equity investments between CAD$15 million ($15.03 million) and CAD$100 million ($76.32 million) in its portfolio company with EBITDA between CAD$5 million ($3.81 million) and CAD$50 million ($38.16 million). The firm can make either majority or controlling or minority investments and seeks to acquire between 20 percent and 80 percent stake. It invests its own capital and seeks to take a board seat on its portfolio companies. The firm typically exits its investments through market share offering, a strategic sale or sale to a financial buyer. Clairvest Group Inc. was founded in 1987 and is based in Toronto, Canada.

Details
Name: Clairvest Group Inc.
CVG
Exchange: TSX
Founded: 1987
CA$623,322,877
15,202,997
Website: http://www.clairvest.com
Address: Clairvest Group Inc.
22 St. Clair Avenue East,
Suite 1700,
Toronto,
Ontario, M4T 2S3,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX CVG Common Shares The Toronto Stock Exchange CA CAD 07. May 1987
OTCPK CVTG.F Common Shares Pink Sheets LLC US USD 07. May 1987
Number of employees
Current staff
Staff numbers
33
Clairvest Group employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/29 01:38
End of day share price update: 2020/03/27 00:00
Last earnings filing: 2020/02/11
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/03/31


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.