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Covanta Holding

DB:C3K
Snowflake Description

Fair value with limited growth.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
C3K
DB
$933M
Market Cap
  1. Home
  2. DE
  3. Commercial Services
Company description

Covanta Holding Corporation, through its subsidiaries, provides waste and energy services to municipal entities primarily in the United States and Canada. The last earnings update was 40 days ago. More info.


Add to Portfolio Compare Print
  • Covanta Holding has significant price volatility in the past 3 months.
C3K Share Price and Events
7 Day Returns
0.7%
DB:C3K
-1.9%
DE Commercial Services
-0.6%
DE Market
1 Year Returns
-51.5%
DB:C3K
-32.9%
DE Commercial Services
-20.9%
DE Market
C3K Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Covanta Holding (C3K) 0.7% -34.3% -43.2% -51.5% -48.3% -63%
DE Commercial Services -1.9% -23.9% -35.4% -32.9% -36.8% -47.7%
DE Market -0.6% -18.6% -26.2% -20.9% -25.8% -31.8%
1 Year Return vs Industry and Market
  • C3K underperformed the Commercial Services industry which returned -32.9% over the past year.
  • C3K underperformed the Market in Germany which returned -20.9% over the past year.
Price Volatility
C3K
Industry
5yr Volatility vs Market

C3K Value

 Is Covanta Holding 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 Covanta Holding 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 Covanta Holding.

DB:C3K Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.2%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

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 DB:C3K
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Commercial Services Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.588 (1 + (1- 21%) (277.8%))
1.588
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.59
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.588 * 5.44%)
8.25%

Discounted Cash Flow Calculation for DB:C3K using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Covanta Holding 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.

DB:C3K DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.25%)
2020 109.63 Analyst x4 101.27
2021 114.60 Analyst x4 97.80
2022 130.40 Analyst x2 102.81
2023 163.50 Analyst x1 119.09
2024 196.80 Analyst x1 132.42
2025 219.95 Est @ 11.76% 136.72
2026 237.80 Est @ 8.12% 136.56
2027 251.03 Est @ 5.56% 133.17
2028 260.51 Est @ 3.78% 127.67
2029 267.10 Est @ 2.53% 120.93
Present value of next 10 years cash flows $1,208.00
DB:C3K DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $267.10 × (1 + -0.39%) ÷ (8.25% – -0.39%)
$3,080.60
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $3,080.60 ÷ (1 + 8.25%)10
$1,394.75
DB:C3K Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,208.00 + $1,394.75
$2,602.75
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,602.75 / 131.60
$19.78
DB:C3K Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:C3K represents 1.06488x of NYSE:CVA
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.06488x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 19.78 x 1.06488
€21.06
Value per share (EUR) From above. €21.06
Current discount Discount to share price of €7.55
= -1 x (€7.55 - €21.06) / €21.06
64.2%

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

Current Discount
Amount off the current price Covanta Holding is available for.
Intrinsic value
>50%
Share price is €7.55 vs Future cash flow value of €21.06
Current Discount Checks
For Covanta Holding to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Covanta Holding's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Covanta Holding'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 Covanta Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Covanta Holding's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:C3K PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $0.08
NYSE:CVA Share Price ** NYSE (2020-04-03) in USD $7.09
Germany Commercial Services Industry PE Ratio Median Figure of 6 Publicly-Listed Commercial Services Companies 94.45x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 16.57x

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

** Primary Listing of Covanta Holding.

DB:C3K PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 7.09 ÷ 0.08

92.88x

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

  • Covanta Holding is good value based on earnings compared to the DE Commercial Services industry average.
  • Covanta Holding is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Covanta Holding's expected growth come at a high price?
Raw Data
DB:C3K PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 92.88x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
14.7%per year
Europe Commercial Services Industry PEG Ratio Median Figure of 48 Publicly-Listed Commercial Services Companies 1.09x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.17x

*Line of best fit is calculated by linear regression .

DB:C3K PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 92.88x ÷ 14.7%

6.3x

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

  • Covanta Holding is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Covanta Holding's assets?
Raw Data
DB:C3K PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $2.88
NYSE:CVA Share Price * NYSE (2020-04-03) in USD $7.09
Germany Commercial Services Industry PB Ratio Median Figure of 9 Publicly-Listed Commercial Services Companies 2.23x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
DB:C3K PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 7.09 ÷ 2.88

2.47x

* Primary Listing of Covanta Holding.

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

  • Covanta Holding is overvalued based on assets compared to the DE Commercial Services industry average.
X
Value checks
We assess Covanta Holding'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 Commercial Services 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 Commercial Services industry average (and greater than 0)? (1 check)
  5. Covanta Holding has a total score of 3/6, 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.

C3K Future Performance

 How is Covanta Holding expected to perform in the next 1 to 3 years based on estimates from 6 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
14.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Covanta Holding expected to grow at an attractive rate?
  • Covanta Holding's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Covanta Holding's earnings growth is expected to exceed the Germany market average.
  • Covanta Holding's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:C3K Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:C3K Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 14.7%
DB:C3K Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 2.6%
Germany Commercial Services Industry Earnings Growth Rate Market Cap Weighted Average 21%
Germany Commercial Services Industry Revenue Growth Rate Market Cap Weighted Average 2.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany 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
DB:C3K Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:C3K Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 2,176 348 1
2023-12-31 2,099 318 1
2022-12-31 1,998 287 16 4
2021-12-31 1,953 270 -2 6
2020-12-31 1,908 275 -18 6
2020-04-05
DB:C3K Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 1,870 226 10
2019-09-30 1,885 203 7
2019-06-30 1,876 262 -34
2019-03-31 1,863 272 -44
2018-12-31 1,868 238 152
2018-09-30 1,863 293 274
2018-06-30 1,836 278 316
2018-03-31 1,806 236 310
2017-12-31 1,752 242 57
2017-09-30 1,714 232 -66
2017-06-30 1,706 251 -27
2017-03-31 1,700 260 -19

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Covanta Holding's earnings are expected to grow by 14.7% yearly, however this is not considered high growth (20% yearly).
  • Covanta Holding's revenue is expected to grow by 2.6% yearly, however this is not considered high growth (20% yearly).
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
DB:C3K Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

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

DB:C3K Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 0.12 0.16 0.09 2.00
2021-12-31 -0.01 0.08 -0.12 4.00
2020-12-31 -0.14 -0.06 -0.23 5.00
2020-04-05
DB:C3K Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 0.08
2019-09-30 0.05
2019-06-30 -0.26
2019-03-31 -0.34
2018-12-31 1.17
2018-09-30 2.10
2018-06-30 2.42
2018-03-31 2.38
2017-12-31 0.44
2017-09-30 -0.51
2017-06-30 -0.21
2017-03-31 -0.15

*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 Covanta Holding will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Covanta Holding'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 Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany 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.
Covanta Holding has a total score of 2/6, 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.

C3K Past Performance

  How has Covanta Holding 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 Covanta Holding's growth in the last year to its industry (Commercial Services).
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.
  • Covanta Holding has delivered over 20% year on year earnings growth in the past 5 years.
  • Covanta Holding's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Covanta Holding's 1-year earnings growth is negative, it can't be compared to the Europe Commercial Services industry average.
Earnings and Revenue History
Covanta Holding'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 Covanta Holding Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:C3K Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 1,870.00 10.00 122.00
2019-09-30 1,885.00 7.00 143.00
2019-06-30 1,876.00 -34.00 141.00
2019-03-31 1,863.00 -44.00 137.00
2018-12-31 1,868.00 152.00 138.00
2018-09-30 1,863.00 274.00 137.00
2018-06-30 1,836.00 316.00 134.00
2018-03-31 1,806.00 310.00 137.00
2017-12-31 1,752.00 57.00 134.00
2017-09-30 1,714.00 -66.00 130.00
2017-06-30 1,706.00 -27.00 129.00
2017-03-31 1,700.00 -19.00 124.00
2016-12-31 1,699.00 -4.00 119.00
2016-09-30 1,674.00 65.00 113.00
2016-06-30 1,675.00 45.00 112.00
2016-03-31 1,665.00 68.00 110.00
2015-12-31 1,645.00 68.00 109.00
2015-09-30 1,648.00 -14.00 112.00
2015-06-30 1,640.00 -41.00 110.00
2015-03-31 1,664.00 -30.00 113.00
2014-12-31 1,682.00 -2.00 112.00
2014-09-30 1,669.00 28.00 104.00
2014-06-30 1,680.00 49.00 104.00
2014-03-31 1,659.00 57.00 99.00
2013-12-31 1,630.00 43.00 99.00
2013-09-30 1,637.00 118.00 75.00
2013-06-30 1,624.00 116.00 79.00

*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.
  • Covanta Holding has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Covanta Holding used its assets more efficiently than the DE Commercial Services industry average last year based on Return on Assets.
  • Covanta Holding's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Covanta Holding'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 Commercial Services 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.
Covanta Holding has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

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

C3K Health

 How is Covanta Holding'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 Covanta Holding's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Covanta Holding is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Covanta Holding's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Covanta Holding's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

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

DB:C3K Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 376.00 2,365.00 37.00
2019-09-30 377.00 2,518.00 65.00
2019-06-30 416.00 2,509.00 102.00
2019-03-31 454.00 2,398.00 88.00
2018-12-31 487.00 2,514.00 58.00
2018-09-30 505.00 2,494.00 51.00
2018-06-30 571.00 2,466.00 39.00
2018-03-31 645.00 2,454.00 51.00
2017-12-31 427.00 2,523.00 46.00
2017-09-30 335.00 2,972.00 37.00
2017-06-30 346.00 2,836.00 48.00
2017-03-31 398.00 3,100.00 444.00
2016-12-31 469.00 2,655.00 84.00
2016-09-30 500.00 2,598.00 113.00
2016-06-30 480.00 2,755.00 175.00
2016-03-31 553.00 2,550.00 173.00
2015-12-31 638.00 2,475.00 94.00
2015-09-30 628.00 2,376.00 69.00
2015-06-30 630.00 2,355.00 66.00
2015-03-31 652.00 2,193.00 67.00
2014-12-31 784.00 2,198.00 84.00
2014-09-30 808.00 2,218.00 87.00
2014-06-30 851.00 2,255.00 175.00
2014-03-31 873.00 2,517.00 393.00
2013-12-31 906.00 2,321.00 195.00
2013-09-30 907.00 2,457.00 256.00
2013-06-30 898.00 2,439.00 209.00
  • Covanta Holding's level of debt (629%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (273.5% vs 629% today).
  • Debt is not well covered by operating cash flow (9.6%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 0.7x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Covanta Holding'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. Covanta Holding has a total score of 1/6, 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.

C3K Dividends

 What is Covanta Holding'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
14.1%
Current annual income from Covanta Holding dividends. Estimated to be 14.1% next year.
If you bought €2,000 of Covanta Holding shares you are expected to receive €282 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?
  • Covanta Holding's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.7%).
  • Covanta Holding's dividend is above the markets top 25% of dividend payers in Germany (4.86%).
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
DB:C3K 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 6 Analyst Estimates (S&P Global) See Below
Germany Commercial Services Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 5.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 316 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

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

DB:C3K Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 1.00 1.00
2023-12-31 1.00 1.00
2022-12-31 1.00 3.00
2021-12-31 1.00 6.00
2020-12-31 1.00 6.00
2020-04-05
DB:C3K Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-03-11 1.000 11.385
2019-12-12 1.000 6.776
2019-09-18 1.000 6.429
2019-05-09 1.000 5.761
2019-03-07 1.000 5.738
2018-12-06 1.000 6.430
2018-09-13 1.000 6.273
2018-05-03 1.000 5.980
2018-03-01 1.000 6.694
2017-12-07 1.000 6.221
2017-09-14 1.000 6.617
2017-05-04 1.000 7.114
2017-03-02 1.000 6.577
2016-12-08 1.000 6.358
2016-09-22 1.000 6.774
2016-05-05 1.000 6.284
2016-03-03 1.000 6.066
2015-12-03 1.000 6.952
2015-09-17 1.000 5.904
2015-05-07 1.000 4.810
2015-03-05 1.000 4.624
2014-12-04 1.000 4.629
2014-09-17 1.000 4.497
2014-08-11 1.000 4.760
2014-08-08 1.000 4.867
2014-07-22 1.000 4.883
2014-06-05 0.720 3.548
2014-02-26 0.720 3.988
2013-12-05 0.660 3.726
2013-09-10 0.660 3.411
2013-06-06 0.660 3.200
2013-03-07 0.660 3.305
2012-11-27 0.600 3.162
2012-09-19 0.600 3.413
2012-06-12 0.600 3.504
2012-03-05 0.600 3.738
2011-12-08 0.300 2.072
2011-09-22 0.300 2.072
2011-06-06 0.300 1.871
2011-03-14 0.300 1.783

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

  • Whilst dividend payments have been stable, Covanta Holding has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Covanta Holding only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Covanta Holding's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.1x coverage).
Future Payout to shareholders
  • The company is expected to pay a dividend in 3 years whilst incurring a loss, therefore the dividend is not expected to be well covered.
X
Income/ dividend checks
We assess Covanta Holding's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - 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 Covanta Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Covanta Holding has a total score of 2/6, see the detailed checks below.


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

C3K Management

 What is the CEO of Covanta Holding'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
Steve Jones
COMPENSATION $4,639,255
AGE 58
TENURE AS CEO 5.1 years
CEO Bio

Mr. Stephen J. Jones, also known as Steve, has been the Chief Executive Officer and President of Covanta Holding Corporation since January 2015. Mr. Jones has been an Independent Director of Tronox Holdings plc (formerly, Tronox Limited) since March 28, 2019. He served as Senior Vice President of Air Products & Chemicals, Inc. since 2008 and served as its China President from 2011 through 2014 at Air Products’ office in Shanghai. Mr. Jones served as Senior Vice President of Tonnage Gases, Equipment and Energy and China President at Air Products Singapore Pte. Ltd. He served as the President of strategic development - China at Air Products & Chemicals Inc. since August 29, 2011 and served as its General Manager of Tonnage Gases Equipment & Energy from March 2009 to 2014. Mr. Jones served as an Associate General Counsel and Vice President of Air Products & Chemicals since January 2007 and also served its General Counsel and Secretary from October 1, 2007 to March 24, 2009. He served as the Vice President and General Manager of Industrial Chemicals Division for Air Products & Chemicals Inc. since 2003. He had been responsible for the methylamines, higher amines and polyurethane intermediates businesses on a global basis. Mr. Jones joined Air Products as a Lawyer in 1992 as an attorney in the Law Group representing various business areas and functions and served in the Law Group for several years. He served Air Products Energy and Process Industries Division as California Area Manager for tonnage gases, where he was responsible for its hydrogen activities on the West Coast. Mr. Jones’ experience managing and growing domestic and international companies, with capital-intensive operating assets, his business acumen and his knowledge of the energy marketplace are valuable assets to the Board. He has been a Director at Covanta Holding Corporation since March 5, 2015. He received a B.S. degree in economics from Bloomsburg University, an M.B.A. with a concentration in finance from Temple University and a law degree in 1989 from the University of Pennsylvania. In 2007 he attended the Insead Advanced Management Program in Fontainebleau, France.

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

Average tenure and age of the Covanta Holding management team in years:

5.8
Average Tenure
53.5
Average Age
  • The average tenure for the Covanta Holding management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Steve Jones

TITLE
President
COMPENSATION
$5M
AGE
58
TENURE
5.1 yrs

Brad Helgeson

TITLE
Executive VP & CFO
COMPENSATION
$2M
AGE
42
TENURE
6.4 yrs

Timothy Simpson

TITLE
Executive VP
COMPENSATION
$2M
AGE
60
TENURE
15.5 yrs

Derek Veenhof

TITLE
Executive Vice President of Asset Management
COMPENSATION
$2M
AGE
52
TENURE
5.3 yrs

Michael de Castro

TITLE
Executive Vice President of Supply Chain
COMPENSATION
$2M
AGE
56
TENURE
4.8 yrs

Joseph Schantz

TITLE
Chief Accounting Officer & VP
AGE
36

Dan Mannes

TITLE
Vice President of Investor Relations

Matthew Mulcahy

TITLE
Executive VP & Head of Corporate Development
COMPENSATION
$1M
AGE
55
TENURE
8.1 yrs

Ginny Angilello

TITLE
Senior VP & Chief Human Resources Officer
AGE
49
TENURE
2 yrs

Paul Gilman

TITLE
Senior VP & Chief Sustainability Officer
TENURE
12.3 yrs
Board of Directors Tenure

Average tenure and age of the Covanta Holding board of directors in years:

14.6
Average Tenure
64.5
Average Age
  • The average tenure for the Covanta Holding board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Sam Zell

TITLE
Independent Chairman of the Board
COMPENSATION
$600K
AGE
77
TENURE
14.6 yrs

Steve Jones

TITLE
President
COMPENSATION
$5M
AGE
58
TENURE
5.1 yrs

David Barse

TITLE
Independent Director
COMPENSATION
$180K
AGE
56
TENURE
23.9 yrs

Jean Smith

TITLE
Independent Director
COMPENSATION
$180K
AGE
63
TENURE
16.3 yrs

Rob Silberman

TITLE
Independent Lead Director
COMPENSATION
$180K
AGE
61

Mike Ranger

TITLE
Independent Director
COMPENSATION
$185K
AGE
61
TENURE
3.6 yrs

Peter C. Bynoe

TITLE
Independent Director
COMPENSATION
$170K
AGE
69
TENURE
15.8 yrs

Ronald Broglio

TITLE
Independent Director
COMPENSATION
$170K
AGE
78
TENURE
15.5 yrs

Linda Fisher

TITLE
Independent Director
COMPENSATION
$170K
AGE
66
TENURE
12.3 yrs

Joe Holsten

TITLE
Independent Director
COMPENSATION
$180K
AGE
67
TENURE
10.9 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Covanta Holding individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
13. Mar 20 Buy Robert Silberman Individual 13. Mar 20 13. Mar 20 20,000 €8.77 €175,343
06. Sep 19 Sell Linda Fisher Individual 06. Sep 19 06. Sep 19 -12,000 €15.51 €-186,119
01. Aug 19 Sell Michael de Castro Individual 30. Jul 19 30. Jul 19 -10,000 €15.33 €-153,268
01. Aug 19 Sell Paul Stauder Individual 31. Jul 19 31. Jul 19 -2,996 €15.50 €-46,443
20. May 19 Sell Ronald Broglio Individual 17. May 19 17. May 19 -6,500 €15.88 €-103,229
16. May 19 Sell Timothy Simpson Individual 14. May 19 15. May 19 -44,116 €15.91 €-700,285
X
Management checks
We assess Covanta Holding'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. Covanta Holding 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.

C3K News

Simply Wall St News

C3K Company Info

Description

Covanta Holding Corporation, through its subsidiaries, provides waste and energy services to municipal entities primarily in the United States and Canada. It owns and operates infrastructure for the conversion of waste to energy, as well as engages in related waste transport and disposal, and other renewable energy production businesses. The company disposes waste and generates electricity and/or steam; sells metal recovered during the energy-from-waste (EfW) process; and offers waste management solutions, such as site clean-up, wastewater treatment, pharmaceutical and healthcare solutions, reverse distribution, transportation and logistics, recycling, and depackaging. As of December 31, 2019, it owned and operated 41 EfW operations, 14 transfer stations, 20 material processing facilities, four landfills, two wood waste energy projects, one regional metals recycling facility, and one ash processing facility. Covanta Holding Corporation has a strategic partnership with the Green Investment Group Limited to develop EfW projects in Ireland and the United Kingdom. The company was formerly known as Danielson Holding Corporation and changed its name to Covanta Holding Corporation in September 2005. Covanta Holding Corporation was incorporated in 1992 and is headquartered in Morristown, New Jersey.

Details
Name: Covanta Holding Corporation
C3K
Exchange: DB
Founded: 1992
$864,833,042
131,599,172
Website: http://www.covanta.com
Address: Covanta Holding Corporation
445 South Street,
Morristown,
New Jersey, 07960,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE CVA Common Stock New York Stock Exchange US USD 06. Dec 1990
DB C3K Common Stock Deutsche Boerse AG DE EUR 06. Dec 1990
BRSE C3K Common Stock Berne Stock Exchange CH CHF 06. Dec 1990
Number of employees
Current staff
Staff numbers
4,000
Covanta Holding employees.
Industry
Environmental and Facilities Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/05 23:15
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/04/02
Last earnings filing: 2020/02/25
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.