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Cedar Fair

DB:7CF
Snowflake Description

Good value with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
7CF
DB
$923M
Market Cap
  1. Home
  2. DE
  3. Consumer Services
Company description

Cedar Fair, L.P. owns and operates amusement and water parks, and hotels in the United States and Canada. The last earnings update was 45 days ago. More info.


Add to Portfolio Compare Print
  • Cedar Fair is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • Cedar Fair has significant price volatility in the past 3 months.
7CF Share Price and Events
7 Day Returns
-19.6%
DB:7CF
-6.9%
DE Hospitality
-0.6%
DE Market
1 Year Returns
-69.1%
DB:7CF
-48.1%
DE Hospitality
-20.9%
DE Market
7CF Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Cedar Fair (7CF) -19.6% -56.5% -71.3% -69.1% -77.8% -73.2%
DE Hospitality -6.9% -31.2% -57.5% -48.1% -63.2% -70.6%
DE Market -0.6% -16.6% -26% -20.9% -25.8% -31.8%
1 Year Return vs Industry and Market
  • 7CF underperformed the Hospitality industry which returned -48.1% over the past year.
  • 7CF underperformed the Market in Germany which returned -20.9% over the past year.
Price Volatility
7CF
Industry
5yr Volatility vs Market

Value

 Is Cedar Fair 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 Cedar Fair 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 Cedar Fair.

DB:7CF Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.6%
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:7CF
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Hospitality Unlevered Beta Simply Wall St/ S&P Global 0.78
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.782 (1 + (1- 21%) (237.31%))
1.836
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.84
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.836 * 5.44%)
9.6%

Discounted Cash Flow Calculation for DB:7CF using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Cedar Fair 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:7CF DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.6%)
2020 210.50 Analyst x2 192.06
2021 257.30 Analyst x1 214.20
2022 290.17 Est @ 12.78% 220.41
2023 315.78 Est @ 8.83% 218.86
2024 334.93 Est @ 6.06% 211.79
2025 348.74 Est @ 4.13% 201.21
2026 358.41 Est @ 2.77% 188.68
2027 364.94 Est @ 1.82% 175.29
2028 369.17 Est @ 1.16% 161.79
2029 371.74 Est @ 0.69% 148.64
Present value of next 10 years cash flows $1,932.00
DB:7CF DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $371.74 × (1 + -0.39%) ÷ (9.6% – -0.39%)
$3,706.77
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $3,706.77 ÷ (1 + 9.6%)10
$1,482.22
DB:7CF Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,932.00 + $1,482.22
$3,414.22
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $3,414.22 / 56.67
$60.25
DB:7CF Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:7CF represents 0.87469x of NYSE:FUN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.87469x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 60.25 x 0.87469
€52.70
Value per share (EUR) From above. €52.70
Current discount Discount to share price of €14.24
= -1 x (€14.24 - €52.70) / €52.70
73%

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

Current Discount
Amount off the current price Cedar Fair is available for.
Intrinsic value
>50%
Share price is €14.24 vs Future cash flow value of €52.7
Current Discount Checks
For Cedar Fair to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Cedar Fair's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Cedar Fair'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 Cedar Fair's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Cedar Fair's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:7CF PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $3.06
NYSE:FUN Share Price ** NYSE (2020-04-03) in USD $16.28
Germany Hospitality Industry PE Ratio Median Figure of 9 Publicly-Listed Hospitality Companies 21.1x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 16.45x

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

** Primary Listing of Cedar Fair.

DB:7CF PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 16.28 ÷ 3.06

5.32x

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

  • Cedar Fair is good value based on earnings compared to the DE Hospitality industry average.
  • Cedar Fair is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Cedar Fair's expected growth come at a high price?
Raw Data
DB:7CF PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.32x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
2.9%per year
Europe Hospitality Industry PEG Ratio Median Figure of 63 Publicly-Listed Hospitality Companies 0.96x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.16x

*Line of best fit is calculated by linear regression .

DB:7CF PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 5.32x ÷ 2.9%

1.87x

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

  • Cedar Fair is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Cedar Fair's assets?
Raw Data
DB:7CF PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $-0.18
NYSE:FUN Share Price * NYSE (2020-04-03) in USD $16.28
Germany Hospitality Industry PB Ratio Median Figure of 12 Publicly-Listed Hospitality Companies 1.73x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
DB:7CF PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 16.28 ÷ -0.18

-92.58x

* Primary Listing of Cedar Fair.

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

  • Cedar Fair has negative assets, we can't compare the value of its assets to the DE Hospitality industry average.
X
Value checks
We assess Cedar Fair'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 Hospitality 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 Hospitality industry average (and greater than 0)? (1 check)
  5. Cedar Fair has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

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

Future Performance

 How is Cedar Fair expected to perform in the next 1 to 3 years based on estimates from 7 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
2.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Cedar Fair expected to grow at an attractive rate?
  • Cedar Fair's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Cedar Fair's earnings growth is positive but not above the Germany market average.
  • Cedar Fair's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:7CF Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:7CF Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 2.9%
DB:7CF Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 2.8%
Germany Hospitality Industry Earnings Growth Rate Market Cap Weighted Average 28.9%
Germany Hospitality Industry Revenue Growth Rate Market Cap Weighted Average 4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4%

*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:7CF Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:7CF Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 1,636 211 2
2021-12-31 1,517 399 164 6
2020-12-31 1,358 369 82 7
2020-04-06
DB:7CF Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 1,475 403 172
2019-09-29 1,467 405 147
2019-06-30 1,417 364 170
2019-03-31 1,361 349 126
2018-12-31 1,349 351 127
2018-09-23 1,327 343 207
2018-06-24 1,316 329 185
2018-03-25 1,328 350 197
2017-12-31 1,322 331 215
2017-09-24 1,286 340 151
2017-06-25 1,283 348 135
2017-03-26 1,279 351 161

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Cedar Fair's earnings are expected to grow by 2.9% yearly, however this is not considered high growth (20% yearly).
  • Cedar Fair's revenue is expected to grow by 2.8% 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:7CF 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 7 Analyst Estimates (S&P Global) See Below

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

DB:7CF Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 3.71 3.71 3.71 1.00
2021-12-31 2.87 3.65 1.54 5.00
2020-12-31 1.43 3.45 -3.49 6.00
2020-04-06
DB:7CF Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 3.06
2019-09-29 2.61
2019-06-30 3.03
2019-03-31 2.25
2018-12-31 2.25
2018-09-23 3.68
2018-06-24 3.29
2018-03-25 3.51
2017-12-31 3.84
2017-09-24 2.70
2017-06-25 2.41
2017-03-26 2.88

*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.
  • Cedar Fair is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Cedar Fair'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.
Cedar Fair 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.

Past Performance

  How has Cedar Fair 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 Cedar Fair's growth in the last year to its industry (Hospitality).
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.
  • Cedar Fair's year on year earnings growth rate has been positive over the past 5 years.
  • Cedar Fair's 1-year earnings growth exceeds its 5-year average (36.1% vs 7.7%)
  • Cedar Fair's earnings growth has exceeded the DE Hospitality industry average in the past year (36.1% vs -36.8%).
Earnings and Revenue History
Cedar Fair'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 Cedar Fair Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:7CF 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 1,474.93 172.36 215.09
2019-09-29 1,467.46 147.08 210.79
2019-06-30 1,416.65 170.43 201.11
2019-03-31 1,360.78 126.38 196.32
2018-12-31 1,348.53 126.65 193.33
2018-09-23 1,326.91 206.69 192.47
2018-06-24 1,315.89 184.70 197.01
2018-03-25 1,328.38 196.83 194.83
2017-12-31 1,321.97 215.47 193.77
2017-09-24 1,285.77 151.13 190.89
2017-06-25 1,283.37 134.80 184.33
2017-03-26 1,278.60 161.42 183.84
2016-12-31 1,288.72 177.69 181.83
2016-09-25 1,263.67 158.80 180.30
2016-06-26 1,258.03 147.97 176.59
2016-03-27 1,247.40 147.57 171.28
2015-12-31 1,235.78 112.22 171.49
2015-09-27 1,229.67 119.85 164.92
2015-06-28 1,180.35 117.60 160.73
2015-03-29 1,165.96 103.92 161.28
2014-12-31 1,159.61 104.21 156.86
2014-09-28 1,137.88 101.78 152.11
2014-06-29 1,134.63 130.30 153.63
2014-03-30 1,133.24 133.79 152.78
2013-12-31 1,134.57 108.20 152.41
2013-09-29 1,124.70 118.36 148.36
2013-06-30 1,086.07 68.95 142.62

*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.
  • It is difficult to establish if Cedar Fair has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) due to its liabilities exceeding its assets.
  • Cedar Fair used its assets more efficiently than the DE Hospitality industry average last year based on Return on Assets.
  • Cedar Fair's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Cedar Fair'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 Hospitality 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.
Cedar Fair 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.

Health

 How is Cedar Fair'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 Cedar Fair's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Cedar Fair's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Cedar Fair's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Cedar Fair'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.
  • Cedar Fair has negative shareholder equity (liabilities exceed assets) therefore debt is not 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 Cedar Fair Company Filings, last reported 3 months ago.

DB:7CF Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 -9.97 2,176.62 182.53
2019-09-29 42.72 2,184.25 258.59
2019-06-30 -100.20 2,179.24 325.10
2019-03-31 -109.60 1,797.16 60.76
2018-12-31 32.42 1,669.90 105.86
2018-09-23 91.67 1,662.04 191.84
2018-06-24 -70.07 1,686.21 61.05
2018-03-25 -50.96 1,703.51 43.79
2017-12-31 82.95 1,669.24 166.98
2017-09-24 75.28 1,674.48 250.63
2017-06-25 -60.64 1,693.56 101.08
2017-03-26 -47.55 1,638.63 34.24
2016-12-31 60.52 1,554.71 122.72
2016-09-25 105.45 1,566.06 187.30
2016-06-26 -28.43 1,620.67 68.09
2016-03-27 -41.81 1,632.76 64.55
2015-12-31 57.01 1,562.07 119.56
2015-09-27 125.14 1,586.66 196.32
2015-06-28 -3.53 1,626.55 35.45
2015-03-29 -21.19 1,645.09 19.73
2014-12-31 96.22 1,585.29 131.84
2014-09-28 153.56 1,594.65 189.37
2014-06-29 23.62 1,637.96 40.13
2014-03-30 20.79 1,603.60 8.87
2013-12-31 139.13 1,547.29 118.06
2013-09-29 192.22 1,561.68 183.48
2013-06-30 39.23 1,614.63 43.63
  • Cedar Fair has negative shareholder equity (liabilities exceed assets), this is a more serious situation compared with a high debt level.
  • Irrelevant to check if Cedar Fair's debt level has increased considering it has negative shareholder equity.
  • Debt is not well covered by operating cash flow (18.5%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.7x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Cedar Fair'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. Cedar Fair has a total score of 0/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

Dividends

 What is Cedar Fair'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
22.97%
Current annual income from Cedar Fair dividends. Estimated to be 23.36% next year.
If you bought €2,000 of Cedar Fair shares you are expected to receive €459 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?
  • Cedar Fair's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.69%).
  • Cedar Fair's dividend is above the markets top 25% of dividend payers in Germany (4.85%).
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:7CF 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 7 Analyst Estimates (S&P Global) See Below
Germany Hospitality Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 11.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 315 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:7CF Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 3.88 1.00
2021-12-31 3.83 3.00
2020-12-31 3.76 3.00
2020-04-06
DB:7CF Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-11-06 3.740 9.267
2019-08-07 3.700 6.638
2019-02-27 3.700 7.181
2019-02-22 3.700 7.034
2019-02-13 3.700 7.134
2018-08-01 3.560 6.762
2018-02-28 3.560 5.563
2017-11-02 3.560 5.338
2017-08-02 3.420 5.292
2017-02-22 3.420 4.912
2017-02-15 3.420 5.121
2016-11-02 3.420 5.496
2016-08-03 3.300 5.654
2016-02-24 3.300 5.617
2015-11-05 3.300 6.087
2015-08-04 3.000 5.494
2015-02-25 3.000 5.310
2015-02-19 3.000 5.475
2014-11-06 3.000 6.096
2014-05-08 2.800 5.642
2014-02-26 2.800 5.403
2014-02-20 2.800 5.246
2013-08-08 2.500 5.377
2013-05-08 2.500 5.975
2013-02-19 2.500 6.298
2012-11-06 2.500 7.113
2012-08-09 1.600 4.750
2012-05-03 1.600 5.474
2012-02-21 1.600 5.445
2011-09-08 1.000 4.600
2011-08-03 1.000 5.404
2011-05-05 1.000 4.992
2011-02-15 0.350 1.812
2010-10-05 1.000 6.476
2010-08-06 0.000 0.000
2010-08-03 0.000 0.000
2010-05-07 0.000 0.000
2010-05-06 0.000 0.000
2010-02-26 0.000 0.000
2010-02-11 0.000 0.000
2009-10-22 1.000 10.461
2009-07-23 1.000 9.396
2009-04-21 1.000 9.206

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Cedar Fair's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (1x coverage).
X
Income/ dividend checks
We assess Cedar Fair'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 Cedar Fair afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Cedar Fair has a total score of 3/6, see the detailed checks below.


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

Management

 What is the CEO of Cedar Fair'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
Richard Zimmerman
COMPENSATION $3,691,327
AGE 58
TENURE AS CEO 2.3 years
CEO Bio

Mr. Richard A. Zimmerman has been Chief Executive Officer Cedar Fair Management, Inc. at General Partner of Cedar Fair, L.P. since January 01, 2018 and has been its President since October 26, 2016. He was the Chief Operating Officer of Cedar Fair Management, Inc., General Partner of Cedar Fair, L.P. since October 17, 2011 until December 18, 2017 and served as its Executive Vice President since November 2, 2010 until October 17, 2011. He has been Director of Cedar Fair Management, Inc. at General Partner of Cedar Fair, L.P. since April 2019. He served as an Executive Vice President at Kings Dominion of Canada's Wonderland Company. He served as Regional Vice President of Cedar Fair Management, Inc., General Partner of Cedar Fair, L.P. from June 2007 to November 2, 2010. He has been with Cedar Fair since 2006. Prior to that, he served as Vice President and General Manager of Kings Dominion from 1998 through 2006.

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

Average tenure and age of the Cedar Fair management team in years:

8.2
Average Tenure
54.5
Average Age
  • The average tenure for the Cedar Fair management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Richard Zimmerman

TITLE
President
COMPENSATION
$4M
AGE
58
TENURE
2.3 yrs

Brian Witherow

TITLE
Executive VP & CFO of Cedar Fair Management Inc.
COMPENSATION
$2M
AGE
52
TENURE
8.3 yrs

Tim Fisher

TITLE
Chief Operating Officer of Cedar Fair Management Inc.
COMPENSATION
$2M
AGE
58
TENURE
2.3 yrs

Duff Milkie

TITLE
Executive VP
COMPENSATION
$1M
AGE
53
TENURE
12.2 yrs

Kelley Semmelroth

TITLE
Executive VP & Chief Marketing Officer of Cedar Fair Management Inc.
COMPENSATION
$1M
AGE
54
TENURE
8.2 yrs

Dave Hoffman

TITLE
Senior VP & Chief Accounting Officer of Cedar Fair Management
COMPENSATION
$345K
AGE
50
TENURE
8.3 yrs

Michael Russell

TITLE
Corporate Director of Investor Relations

Scott Tanner

TITLE
Corporate Vice President of Sales - Cedar Fair Management Co.
TENURE
8.5 yrs

Craig Heckman

TITLE
Executive Vice President of Human Resources - Cedar Fair Management
AGE
55
TENURE
3.3 yrs

Rob Decker

TITLE
Senior Vice President of Planning & Design - Cedar Fair Management Inc
COMPENSATION
$603K
AGE
58
TENURE
5.3 yrs
Board of Directors Tenure

Average tenure and age of the Cedar Fair board of directors in years:

7.8
Average Tenure
58
Average Age
  • The tenure for the Cedar Fair board of directors is about average.
Board of Directors

Dan Hanrahan

TITLE
Independent Chairman Cedar Fair Management Inc.
COMPENSATION
$213K
AGE
62
TENURE
0.3 yrs

Richard Zimmerman

TITLE
President
COMPENSATION
$4M
AGE
58
TENURE
1 yrs

Gina France

TITLE
Director of Cedar Fair Management Inc.
COMPENSATION
$225K
AGE
60
TENURE
8.8 yrs

Lauri Shanahan

TITLE
Independent Director of Cedar Fair Management Inc.
COMPENSATION
$209K
AGE
56
TENURE
7.8 yrs

Matt Ouimet

TITLE
Director of Cedar Fair Management Inc.
COMPENSATION
$4M
AGE
61
TENURE
8.7 yrs

John Scott

TITLE
Director of Cedar Fair Management Inc.
COMPENSATION
$208K
AGE
54
TENURE
9.8 yrs

Debra Smithart-Oglesby

TITLE
Independent Director of Cedar Fair Management Inc.
COMPENSATION
$250K
AGE
64
TENURE
7.8 yrs

David Olivet

TITLE
Director of Cedar Fair Management Inc.
COMPENSATION
$205K
AGE
57
TENURE
6.8 yrs

Carlos Ruisanchez

TITLE
Director of Cedar Fair Management Inc.
AGE
48
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Cedar Fair individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
12. Mar 20 Buy Tim Fisher Individual 11. Mar 20 11. Mar 20 3,660 €24.25 €88,755
12. Mar 20 Buy Carlos Ruisanchez Individual 11. Mar 20 11. Mar 20 5,000 €25.73 €126,440
10. Mar 20 Buy Craig Heckman Individual 10. Mar 20 10. Mar 20 1,000 €29.09 €29,086
06. Mar 20 Buy Richard Zimmerman Individual 06. Mar 20 06. Mar 20 5,000 €32.84 €164,212
06. Mar 20 Buy Brian Witherow Individual 06. Mar 20 06. Mar 20 5,000 €33.32 €166,597
06. Mar 20 Buy John Scott Individual 06. Mar 20 06. Mar 20 1,300 €33.36 €43,373
06. Mar 20 Buy Duffield Milkie Individual 06. Mar 20 06. Mar 20 5,390 €32.81 €176,831
06. Mar 20 Buy David Hoffman Individual 06. Mar 20 06. Mar 20 1,500 €33.11 €49,661
03. Mar 20 Buy John Scott Individual 28. Feb 20 28. Feb 20 5,700 €39.33 €224,165
28. Feb 20 Buy Daniel Hanrahan Individual 26. Feb 20 26. Feb 20 11,250 €40.78 €458,777
28. Feb 20 Buy Carlos Ruisanchez Individual 26. Feb 20 26. Feb 20 5,000 €41.19 €205,969
26. Feb 20 Buy David Hoffman Individual 24. Feb 20 24. Feb 20 280 €47.78 €13,378
X
Management checks
We assess Cedar Fair'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. Cedar Fair has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

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

News

Simply Wall St News

Company Info

Description

Cedar Fair, L.P. owns and operates amusement and water parks, and hotels in the United States and Canada. The company operates approximately 11 amusement parks, 2 outdoor water parks, 1 indoor water park, and 4 hotels. Its amusement parks include Cedar Point located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Knott's Berry Farm near Los Angeles, California; Canada's Wonderland near Toronto, Canada; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Dorney Park & Wildwater Kingdom in Allentown, Pennsylvania; Kings Dominion located near Richmond, Virginia; California's Great America located in Santa Clara, California; Valleyfair located near Minneapolis/St. Paul, Minnesota; Worlds of Fun located in Kansas City, Missouri; Michigan's Adventure located near Muskegon, Michigan; Schlitterbahn Waterpark & Resort New Braunfels in New Braunfels, Texas; and Schlitterbahn Waterpark Galveston in Galveston, Texas. The company also manages and operates Gilroy Gardens Family Theme Park in Gilroy, California; and owns and operates the Castaway Bay Indoor Waterpark Resort in Sandusky, Ohio. As of December 31, 2019, the company operated 11 amusement parks, and 4 separate gated outdoor water parks, as well as resort accommodations approximately 2,300 rooms and 600 luxury RV sites. Cedar Fair Management, Inc. serves as the general partner of Cedar Fair, L.P. The company was founded in 1983 and is headquartered in Sandusky, Ohio.

Details
Name: Cedar Fair, L.P.
7CF
Exchange: DB
Founded: 1983
$855,138,162
56,669,451
Website: http://www.cedarfair.com
Address: Cedar Fair, L.P.
One Cedar Point Drive,
Sandusky,
Ohio, 44870,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE FUN Limited Partnership Units New York Stock Exchange US USD 23. Apr 1987
DB 7CF Limited Partnership Units Deutsche Boerse AG DE EUR 23. Apr 1987
Number of employees
Current staff
Staff numbers
2,600
Cedar Fair employees.
Industry
Leisure Facilities
Consumer Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/06 04:34
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/03/30
Last earnings filing: 2020/02/21
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.