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Cameco

TSX:CCO
Snowflake Description

Excellent balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CCO
TSX
CA$4B
Market Cap
  1. Home
  2. CA
  3. Energy
Company description

Cameco Corporation produces and sells uranium worldwide. The last earnings update was 50 days ago. More info.


Add to Portfolio Compare Print
  • Cameco has significant price volatility in the past 3 months.
CCO Share Price and Events
7 Day Returns
6.4%
TSX:CCO
15.2%
CA Oil and Gas
11.4%
CA Market
1 Year Returns
-38.7%
TSX:CCO
-41.5%
CA Oil and Gas
-22%
CA Market
CCO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Cameco (CCO) 6.4% -13.5% -16.5% -38.7% -34.4% -47.8%
CA Oil and Gas 15.2% -37.6% -42.4% -41.5% -49.8% -53.6%
CA Market 11.4% -22.2% -23.5% -22% -19.8% -13.3%
1 Year Return vs Industry and Market
  • CCO outperformed the Oil and Gas industry which returned -41.5% over the past year.
  • CCO underperformed the Market in Canada which returned -22% over the past year.
Price Volatility
CCO
Industry
5yr Volatility vs Market
Related Companies

CCO Value

 Is Cameco 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 Cameco 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 Cameco.

TSX:CCO Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 10 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.9%
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:CCO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.4%
Equity Risk Premium S&P Global 5.4%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.83
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.825 (1 + (1- 26.5%) (27.43%))
0.995
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.99
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.44% + (0.995 * 5.44%)
6.85%

Discounted Cash Flow Calculation for TSX:CCO using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Cameco 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.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

TSX:CCO DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 6.85%)
2020 112.83 Analyst x5 105.60
2021 136.76 Analyst x5 119.79
2022 186.67 Analyst x3 153.02
2023 223.33 Analyst x3 171.34
2024 332.00 Analyst x2 238.37
2025 399.27 Est @ 20.26% 268.30
2026 457.63 Est @ 14.62% 287.80
2027 506.43 Est @ 10.66% 298.07
2028 546.42 Est @ 7.9% 300.99
2029 578.99 Est @ 5.96% 298.48
Present value of next 10 years cash flows CA$2,241.00
TSX:CCO DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CA$578.99 × (1 + 1.44%) ÷ (6.85% – 1.44%)
CA$10,855.69
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$10,855.69 ÷ (1 + 6.85%)10
CA$5,596.29
TSX:CCO Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$2,241.00 + CA$5,596.29
CA$7,837.29
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$7,837.29 / 395.80
CA$19.8
TSX:CCO Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$19.80
Current discount Discount to share price of CA$9.65
= -1 x (CA$9.65 - CA$19.80) / CA$19.80
51.3%

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

Current Discount
Amount off the current price Cameco is available for.
Intrinsic value
>50%
Share price is CA$9.65 vs Future cash flow value of CA$19.8
Current Discount Checks
For Cameco to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Cameco's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Cameco'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 Cameco's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Cameco's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:CCO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CAD CA$0.19
TSX:CCO Share Price ** TSX (2020-03-27) in CAD CA$9.65
Canada Oil and Gas Industry PE Ratio Median Figure of 55 Publicly-Listed Oil and Gas Companies 6.35x
Canada Market PE Ratio Median Figure of 499 Publicly-Listed Companies 10.74x

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

** Primary Listing of Cameco.

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

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

= 9.65 ÷ 0.19

51.61x

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

  • Cameco is overvalued based on earnings compared to the CA Oil and Gas industry average.
  • Cameco is overvalued based on earnings compared to the Canada market.
Price based on expected Growth
Does Cameco's expected growth come at a high price?
Raw Data
TSX:CCO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 51.61x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
44.6%per year
Canada Oil and Gas Industry PEG Ratio Median Figure of 29 Publicly-Listed Oil and Gas Companies -0.04x
Canada Market PEG Ratio Median Figure of 234 Publicly-Listed Companies 0.69x

*Line of best fit is calculated by linear regression .

TSX:CCO PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 51.61x ÷ 44.6%

1.16x

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

  • Cameco is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Cameco's assets?
Raw Data
TSX:CCO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CAD CA$12.62
TSX:CCO Share Price * TSX (2020-03-27) in CAD CA$9.65
Canada Oil and Gas Industry PB Ratio Median Figure of 198 Publicly-Listed Oil and Gas Companies 0.38x
Canada Market PB Ratio Median Figure of 2,352 Publicly-Listed Companies 1x
TSX:CCO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 9.65 ÷ 12.62

0.76x

* Primary Listing of Cameco.

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

  • Cameco is overvalued based on assets compared to the CA Oil and Gas industry average.
X
Value checks
We assess Cameco'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 Oil and Gas 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 Oil and Gas industry average (and greater than 0)? (1 check)
  5. Cameco has a total score of 2/6, 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.

CCO Future Performance

 How is Cameco expected to perform in the next 1 to 3 years based on estimates from 10 analysts?

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
44.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Cameco expected to grow at an attractive rate?
  • Cameco's earnings growth is expected to exceed the low risk savings rate of 1.4%.
Growth vs Market Checks
  • Cameco's earnings growth is expected to exceed the Canada market average.
  • Cameco's revenues are expected to decrease over the next 1-3 years, this is below the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:CCO Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:CCO Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 44.6%
TSX:CCO Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts -1.9%
Canada Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average -3.9%
Canada Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 1%
Canada Market Earnings Growth Rate Market Cap Weighted Average 7.7%
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:CCO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:CCO Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 1,729 546 260 3
2023-12-31 1,642 479 180 4
2022-12-31 1,507 426 91 5
2021-12-31 1,692 307 0 9
2020-12-31 1,657 167 -25 10
2020-03-28
TSX:CCO Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-12-31 1,863 527 74
2019-09-30 1,820 310 106
2019-06-30 2,004 356 147
2019-03-31 1,950 473 93
2018-12-31 2,092 668 166
2018-09-30 2,069 930 -55
2018-06-30 2,067 806 -207
2018-03-31 2,204 879 -132
2017-12-31 2,157 596 -205
2017-09-30 2,235 531 -288
2017-06-30 2,419 762 -22
2017-03-31 2,416 581 -158

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Cameco's earnings are expected to grow significantly at over 20% yearly.
  • Cameco's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
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:CCO 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 10 Analyst Estimates (S&P Global) See Below

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

TSX:CCO Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 0.66 0.92 0.39 2.00
2023-12-31 0.45 0.84 -0.03 3.00
2022-12-31 0.24 0.53 -0.20 5.00
2021-12-31 0.05 0.30 -0.32 6.00
2020-12-31 -0.06 0.06 -0.23 5.00
2020-03-28
TSX:CCO Past Financials Data
Date (Data in CAD Millions) EPS *
2019-12-31 0.19
2019-09-30 0.27
2019-06-30 0.37
2019-03-31 0.24
2018-12-31 0.42
2018-09-30 -0.14
2018-06-30 -0.52
2018-03-31 -0.33
2017-12-31 -0.52
2017-09-30 -0.73
2017-06-30 -0.06
2017-03-31 -0.40

*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.
  • Cameco is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Cameco'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 Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada 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.
Cameco has a total score of 3/6, 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.

CCO Past Performance

  How has Cameco 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 Cameco's growth in the last year to its industry (Oil and Gas).
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.
  • Cameco's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Cameco's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Cameco's 1-year earnings growth is negative, it can't be compared to the CA Oil and Gas industry average.
Earnings and Revenue History
Cameco'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 Cameco Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:CCO 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 1,862.93 74.00 137.56 6.06
2019-09-30 1,819.82 105.52 138.44 6.86
2019-06-30 2,004.28 147.11 142.83 5.52
2019-03-31 1,949.80 93.22 144.67 2.25
2018-12-31 2,091.66 166.32 147.84 1.76
2018-09-30 2,069.30 -55.18 154.17 -0.50
2018-06-30 2,067.25 -207.01 171.11 0.25
2018-03-31 2,203.70 -132.10 185.38 4.85
2017-12-31 2,156.85 -204.94 193.03 5.66
2017-09-30 2,234.98 -287.73 210.27 6.15
2017-06-30 2,419.04 -21.87 210.39 6.56
2017-03-31 2,415.70 -157.68 232.77 5.99
2016-12-31 2,431.40 -61.61 249.23 4.95
2016-09-30 2,519.34 72.86 250.33 5.83
2016-06-30 2,498.74 -73.19 251.80 6.05
2016-03-31 2,596.86 152.21 240.59 5.72
2015-12-31 2,754.38 65.29 227.07 6.59
2015-09-30 2,668.53 147.91 231.01 6.60
2015-06-30 2,606.62 5.82 232.51 6.65
2015-03-31 2,544.07 44.99 217.33 5.60
2014-12-31 2,397.53 57.99 222.95 5.04
2014-09-30 2,485.76 13.81 220.71 5.65
2014-06-30 2,495.20 323.24 224.83 5.04
2014-03-31 2,414.05 229.60 236.39 6.80
2013-12-31 2,438.72 233.17 249.83 7.30
2013-09-30 2,307.66 246.14 260.85 8.11
2013-06-30 2,007.27 161.22 278.61 9.28
2013-03-31 1,868.93 132.25 285.74 7.95

*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.
  • Cameco has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Cameco used its assets less efficiently than the CA Oil and Gas industry average last year based on Return on Assets.
  • Cameco's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Cameco'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 Oil and Gas 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.
Cameco has a total score of 0/6, 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.

CCO Health

 How is Cameco'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 Cameco's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Cameco is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Cameco's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Cameco'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 covered by short term assets, assets are 1.8x 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 Cameco Company Filings, last reported 2 months ago.

TSX:CCO Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 4,994.96 996.72 1,062.43
2019-09-30 4,904.29 996.56 864.43
2019-06-30 4,934.78 1,496.30 1,113.19
2019-03-31 4,960.85 1,495.98 1,220.95
2018-12-31 4,993.59 1,495.67 1,102.55
2018-09-30 4,834.33 1,495.36 1,094.77
2018-06-30 4,837.51 1,495.06 837.30
2018-03-31 4,920.12 1,494.76 812.52
2017-12-31 4,859.66 1,494.47 591.62
2017-09-30 4,948.11 1,494.18 351.84
2017-06-30 5,146.92 1,493.89 282.69
2017-03-31 5,223.40 1,495.71 246.18
2016-12-31 5,258.53 1,493.33 320.28
2016-09-30 5,448.44 1,519.28 199.36
2016-06-30 5,315.16 1,727.52 131.53
2016-03-31 5,507.24 1,622.01 199.37
2015-12-31 5,545.28 1,492.24 458.60
2015-09-30 5,507.13 1,491.97 62.54
2015-06-30 5,497.99 1,491.70 330.86
2015-03-31 5,460.89 1,491.45 557.89
2014-12-31 5,443.80 1,491.20 566.58
2014-09-30 5,412.76 1,490.94 507.63
2014-06-30 5,571.54 1,885.08 828.51
2014-03-31 5,528.98 1,354.62 487.50
2013-12-31 5,349.39 1,384.84 229.14
2013-09-30 5,160.74 1,384.93 272.77
2013-06-30 5,012.95 1,346.44 331.63
2013-03-31 4,951.17 1,352.95 577.21
  • Cameco's level of debt (20%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (27.4% vs 20% today).
  • Debt is well covered by operating cash flow (52.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 7.3x coverage).
X
Financial health checks
We assess Cameco'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. Cameco has a total score of 5/6, 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.

CCO Dividends

 What is Cameco'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
0.83%
Current annual income from Cameco dividends. Estimated to be 0.8% next year.
If you bought CA$2,000 of Cameco shares you are expected to receive CA$17 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?
  • Cameco's pays a lower dividend yield than the bottom 25% of dividend payers in Canada (2.7%).
  • Cameco's dividend is below the markets top 25% of dividend payers in Canada (8.48%).
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:CCO 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 10 Analyst Estimates (S&P Global) See Below
Canada Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 37 Stocks 8%
Canada Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 4.7%
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 8.5%

Industry and Market average data is calculated daily.

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

TSX:CCO Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 0.08 1.00
2023-12-31 0.08 2.00
2022-12-31 0.08 3.00
2021-12-31 0.08 5.00
2020-12-31 0.08 6.00
2020-03-28
TSX:CCO Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2019-11-01 0.080 0.703
2018-11-02 0.080 0.569
2018-02-09 0.080 0.593
2017-10-27 0.400 3.351
2017-07-27 0.400 3.305
2017-02-09 0.400 2.949
2016-12-01 0.400 2.734
2016-07-28 0.400 3.442
2016-04-29 0.400 2.752
2016-02-04 0.400 2.454
2015-12-03 0.400 2.445
2015-10-30 0.400 2.411
2015-04-29 0.400 2.191
2015-02-05 0.400 2.098
2014-12-04 0.400 2.187
2014-07-31 0.400 1.958
2014-04-29 0.400 1.853
2014-02-10 0.400 1.569
2013-12-05 0.400 1.759
2013-08-01 0.400 2.006
2013-05-01 0.400 1.843
2013-04-15 0.400 2.117
2012-12-06 0.400 1.925
2012-07-27 0.400 2.046
2012-05-01 0.400 1.881
2012-02-08 0.400 1.783
2011-12-02 0.400 1.973
2011-11-07 0.400 2.090
2011-05-06 0.400 1.735
2011-02-14 0.400 1.267
2010-12-02 0.400 1.011
2010-11-08 0.280 0.765
2010-05-04 0.280 1.060
2010-02-25 0.280 1.028
2009-12-03 0.280 0.896
2009-08-12 0.240 0.780
2009-05-01 0.240 0.818

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

  • Cameco is not paying a notable dividend for Canada, therefore no need to check if the payments are stable.
  • Cameco 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 Cameco's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Cameco's dividends as it is not paying a notable one for Canada.
Future Payout to shareholders
  • No need to calculate the sustainability of Cameco's dividends in 3 years as they are not expected to pay a notable one for Canada.
X
Income/ dividend checks
We assess Cameco'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 Cameco afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Cameco 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.

CCO Management

 What is the CEO of Cameco'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
Tim Gitzel
COMPENSATION CA$6,765,816
AGE 56
TENURE AS CEO 8.7 years
CEO Bio

Mr. Timothy S. Gitzel, also known as Tim, has been the Chief Executive Officer at Cameco Corporation since July 1, 2011 and has been its President since May 14, 2010. Mr. Gitzel serves as the President of SaskEnergy Corporation and Saskatchewan Mining Association. He served as the Chief Operating Officer and Senior Vice President of Cameco Corp. from January 2007 to May 14, 2010. He served as Executive Vice President of Mining Business unit for Areva SA in Paris, France from 2004 to January 2007 with responsibility for global uranium, gold, exploration and decommissioning operations in eleven countries. He served as Director of Mining Business Unit at La Mancha Resources, Inc. since June 2004. He joined the Saskatoon law firm of MacPherson, Leslie & Tyerman as an Associate Lawyer in 1990. In 1994, Mr. Gitzel joined AREVA Resources Canada Inc. and served as its Chief Executive Officer and President from 2001 to 2004. He served as Legal Advisor of Cogema Resources Inc. since 2001. Since 1992, he served as a Departmental Assistant to the Deputy Prime Minister and the Minister of Economic Development of Saskatchewan province. He serves as the Chairman of AREVA Resources Canada Inc. Mr. Gitzel served as the Chairman of AREVA Resources Canada Inc. since 2001. He serves as Second Vice Chairman at The Mining Association of Canada. He has been an Independent Director of The Mosaic Company since October 2, 2013. He served as chair of the World Nuclear Association from 2012 to 2014 and continues to serve as a member of the board. He is also a member of the Business Council of Canada. He serves as a Director of Nuclear Energy Institute. He serves as a Director of the Canadian Nuclear Association. He has been a Non-Independent Director of Cameco Corporation since 2011. He served as a Director of Bruce Power L.P. He served as a Director of Cogema Resources since 2001 and also served as President and Chief Executive Officer of Cogema Resources Inc. Mr. Gitzel holds a Law Degree from the University of Saskatchewan in Canada.

CEO Compensation
  • Tim's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Tim's remuneration is higher than average for companies of similar size in Canada.
Management Team Tenure

Average tenure of the Cameco management team in years:

7.9
Average Tenure
  • The average tenure for the Cameco management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Tim Gitzel

TITLE
President
COMPENSATION
CA$7M
AGE
56
TENURE
8.7 yrs

Grant Isaac

TITLE
Senior VP & CFO
COMPENSATION
CA$3M
TENURE
8.7 yrs

Brian Reilly

TITLE
Senior VP & COO
COMPENSATION
CA$2M
TENURE
2.7 yrs

Sean Quinn

TITLE
Senior VP
COMPENSATION
CA$2M
TENURE
5.9 yrs

Alice Wong

TITLE
Senior VP & Chief Corporate Officer
COMPENSATION
CA$2M
TENURE
8.7 yrs

Rachelle Girard

TITLE
Director of Investor Relations
TENURE
7.7 yrs

Scott McHardy

TITLE
Director of North American Exploration & VP of Exploration
TENURE
7.9 yrs

Heidi Shockey

TITLE
Vice-President & Controller

Leah Hipperson

TITLE
Manager of Treasury & Insurance
Board of Directors Tenure

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

9.2
Average Tenure
63
Average Age
  • The tenure for the Cameco board of directors is about average.
Board of Directors

Ian Bruce

TITLE
Independent Chairman of the Board
COMPENSATION
CA$230K
AGE
65
TENURE
1.8 yrs

Tim Gitzel

TITLE
President
COMPENSATION
CA$7M
AGE
56
TENURE
9.2 yrs

A. McLellan

TITLE
Independent Director
COMPENSATION
CA$216K
AGE
68
TENURE
14.2 yrs

Daniel Camus

TITLE
Independent Director
COMPENSATION
CA$222K
AGE
67
TENURE
9.2 yrs

Don Kayne

TITLE
Independent Director
COMPENSATION
CA$229K
AGE
61
TENURE
4.2 yrs

Donald H. Deranger

TITLE
Independent Director
COMPENSATION
CA$203K
AGE
63
TENURE
11.2 yrs

Jim Gowans

TITLE
Independent Director
COMPENSATION
CA$224K
AGE
67
TENURE
11.2 yrs

Catherine Gignac

TITLE
Independent Director
COMPENSATION
CA$230K
AGE
58
TENURE
6.2 yrs

Kate Jackson

TITLE
Independent Director
COMPENSATION
CA$217K
AGE
62
TENURE
3.2 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Cameco individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
13. Mar 20 Buy Brian Reilly Individual 09. Mar 20 09. Mar 20 15,756 CA$10.25 CA$159,999
13. Mar 20 Buy Catherine Gignac Individual 11. Mar 20 11. Mar 20 5,000 CA$9.75 CA$48,750
13. Aug 19 Buy Sean Quinn Individual 09. Aug 19 09. Aug 19 860 CA$11.37 CA$9,772
12. Aug 19 Buy Brian Reilly Individual 09. Aug 19 09. Aug 19 2,173 CA$11.50 CA$24,989
X
Management checks
We assess Cameco'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. Cameco 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.

CCO News

Simply Wall St News

Is Cameco Corporation (TSE:CCO) Undervalued After Accounting For Its Future Growth?

Cameco Corporation (TSE:CCO) closed yesterday at CA$11.92, which left some investors asking whether the high earnings potential can still be justified at this price. … Cameco is trading at price-to-earnings (PE) ratio of 32.07x, this tells us the stock is overvalued compared to the CA market average ratio of 14.17x , and overvalued based on current earnings compared to the Oil and Gas industry average of 8.16x. … TSX:CCO Price Estimation Relative to Market, August 22nd 2019 After looking at CCO's value based on current earnings, we can see it seems overvalued relative to other companies in the industry.

Simply Wall St -

Is There An Opportunity With Cameco Corporation's (TSE:CCO) 38% Undervaluation?

Generally we assume that a dollar today is more valuable than a dollar in the future, so we discount the value of these future cash flows to their estimated value in today's dollars: 10-year free cash flow (FCF) forecast 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Levered FCF (CA$, Millions) CA$147.0m CA$132.7m CA$332.8m CA$412.3m CA$476.4m CA$531.1m CA$576.8m CA$614.9m CA$647.0m CA$674.4m Growth Rate Estimate Source Analyst x5 Analyst x3 Analyst x4 Analyst x3 Est @ 15.55% Est @ 11.47% Est @ 8.61% Est @ 6.61% Est @ 5.21% Est @ 4.23% Present Value (CA$, Millions) Discounted @ 8.39% CA$135.6 CA$112.9 CA$261.3 CA$298.8 CA$318.5 CA$327.5 CA$328.2 CA$322.8 CA$313.4 CA$301.3 ("Est" = FCF growth rate estimated by Simply Wall St) Present Value of 10-year Cash Flow (PVCF)= CA$2.7b After calculating the present value of future cash flows in the intial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = CA$674m × (1 + 1.9%) ÷ (8.4% – 1.9%) = CA$11b Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = CA$CA$11b ÷ ( 1 + 8.4%)10 = CA$4.77b The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is CA$7.49b. … TSX:CCO Intrinsic value, August 9th 2019 The assumptions Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows.

Simply Wall St -

We Think Cameco (TSE:CCO) Can Stay On Top Of Its Debt

and every practical investor I know worries about.' It's only natural to consider a company's balance sheet when you examine how risky it is, since debt is often involved when a business collapses. … On the flip side, it has CA$1.22b in cash leading to net debt of about CA$275.0m. … Cameco has a market capitalization of CA$5.18b, so it could very likely raise cash to ameliorate its balance sheet, if the need arose.

Simply Wall St -

Should Cameco Corporation (TSE:CCO) Focus On Improving This Fundamental Metric?

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Cameco: 1.9% = CA$93m ÷ CA$5.0b (Based on the trailing twelve months to March 2019.) Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. … Does Cameco Have A Good Return On Equity? … Conservative use of debt to boost returns is usually a good move for shareholders, though it does leave the company more exposed to interest rate rises.

Simply Wall St -

Why Cameco Corporation’s (TSE:CCO) Return On Capital Employed Looks Uninspiring

Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Cameco: 0.031 = CA$225m ÷ (CA$8.0b - CA$826m) (Based on the trailing twelve months to March 2019.) Therefore, Cameco has an ROCE of 3.1%. … What Are Current Liabilities, And How Do They Affect Cameco's ROCE? … Due to the way ROCE is calculated, a high level of current liabilities makes a company look as though it has less capital employed, and thus can (sometimes unfairly) boost the ROCE.

Simply Wall St -

Is Cameco Corporation (TSE:CCO) Overpaying Its CEO?

See our latest analysis for Cameco How Does Tim Gitzel's Compensation Compare With Similar Sized Companies? … It would therefore appear that Cameco Corporation pays Tim Gitzel more than the median CEO remuneration at companies of a similar size, in the same market. … We compared the total CEO remuneration paid by Cameco Corporation, and compared it to remuneration at a group of similar sized companies.

Simply Wall St -

What Kind Of Shareholder Appears On The Cameco Corporation's (TSE:CCO) Shareholder Register?

We'd expect to see institutional investors on the register. … institutional investors have bought into the company. … We can zoom in on the different ownership groups, to learn more about CCO

Simply Wall St -

Is Cameco Corporation (TSE:CCO) A Financially Strong Company?

Small and large cap stocks are widely popular for a variety of reasons, however, mid-cap companies such as Cameco Corporation (TSE:CCO), with a market cap of CA$6.2b, often get neglected by retail investors. … While they are less talked about as an investment category, mid-cap risk-adjusted returns have generally been better than more commonly focused stocks that fall into the small- or large-cap categories. … Note that this commentary is very high-level and solely focused on financial health, so I suggest you dig deeper yourself.

Simply Wall St -

A Closer Look At Cameco Corporation's (TSE:CCO) Uninspiring ROE

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … Another way to think of that is that for every CA$1 worth of equity in the company, it was able to earn CA$0.033. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Did You Manage To Avoid Cameco's (TSE:CCO) 41% Share Price Drop?

In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. … Most would consider that to be a good thing, so it's counter-intuitive to see the share price declining. … We don't think that the 0.5% is big factor in the share price, since it's quite small, as dividends go.

Simply Wall St -

CCO Company Info

Description

Cameco Corporation produces and sells uranium worldwide. The company operates in two segments, Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, and milling, as well as purchase and sale of uranium concentrate. Its operating uranium properties include the Cigar Lake property located in Saskatchewan, Canada; and the Inkai property located in Kazakhstan. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services. This segment also produces fuel bundles and reactor components for CANDU reactors; and provides consulting services to CANDU operators. The company sells its uranium and fuel services to nuclear utilities. Cameco Corporation was incorporated in 1987 and is headquartered in Saskatoon, Canada.

Details
Name: Cameco Corporation
CCO
Exchange: TSX
Founded: 1987
CA$3,680,918,916
395,797,733
Website: http://www.cameco.com
Address: Cameco Corporation
2121-11th Street West,
Saskatoon,
Saskatchewan, S7M 1J3,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX CCO Common Shares The Toronto Stock Exchange CA CAD 05. Jul 1991
NYSE CCJ Common Shares New York Stock Exchange US USD 05. Jul 1991
DB CJ6 Common Shares Deutsche Boerse AG DE EUR 05. Jul 1991
LSE 0R35 Common Shares London Stock Exchange GB CAD 05. Jul 1991
SWX CCO Common Shares SIX Swiss Exchange CH CHF 05. Jul 1991
Number of employees
Current staff
Staff numbers
1,897
Cameco employees.
Industry
Coal and Consumable Fuels
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/28 00:20
End of day share price update: 2020/03/27 00:00
Last estimates confirmation: 2020/03/24
Last earnings filing: 2020/02/07
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


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.