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CECO Environmental

Nasdaq:CECE
Snowflake Description

Undervalued with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CECE
Nasdaq
$165M
Market Cap
  1. Home
  2. US
  3. Commercial Services
Company description

CECO Environmental Corp. provides industrial air quality and fluid handling systems for the energy, industrial, and other markets worldwide. The last earnings update was 30 days ago. More info.


Add to Portfolio Compare Print
  • CECO Environmental has significant price volatility in the past 3 months.
CECE Share Price and Events
7 Day Returns
-1.1%
NasdaqGS:CECE
-6.8%
US Commercial Services
-4.1%
US Market
1 Year Returns
-38.6%
NasdaqGS:CECE
-20.5%
US Commercial Services
-14.9%
US Market
CECE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
CECO Environmental (CECE) -1.1% -34.6% -39.4% -38.6% -56.4% -57.4%
US Commercial Services -6.8% -26.3% -28.5% -20.5% 4% 18.8%
US Market -4.1% -19.1% -23.4% -14.9% 3.5% 14.5%
1 Year Return vs Industry and Market
  • CECE underperformed the Commercial Services industry which returned -20.5% over the past year.
  • CECE underperformed the Market in United States of America which returned -14.9% over the past year.
Price Volatility
CECE
Industry
5yr Volatility vs Market

CECE Value

 Is CECO Environmental 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 CECO Environmental 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 CECO Environmental.

NasdaqGS:CECE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

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 NasdaqGS:CECE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Commercial Services Unlevered Beta Simply Wall St/ S&P Global 0.6
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.599 (1 + (1- 21%) (52.85%))
0.899
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.9
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (0.899 * 5.44%)
6.63%

Discounted Cash Flow Calculation for NasdaqGS:CECE using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for CECO Environmental 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.

NasdaqGS:CECE DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 6.63%)
2020 21.20 Analyst x1 19.88
2021 27.60 Analyst x1 24.27
2022 31.98 Est @ 15.87% 26.38
2023 35.70 Est @ 11.63% 27.61
2024 38.79 Est @ 8.66% 28.14
2025 41.35 Est @ 6.59% 28.13
2026 43.47 Est @ 5.13% 27.73
2027 45.26 Est @ 4.11% 27.08
2028 46.80 Est @ 3.4% 26.26
2029 48.16 Est @ 2.9% 25.34
Present value of next 10 years cash flows $260.00
NasdaqGS:CECE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $48.16 × (1 + 1.74%) ÷ (6.63% – 1.74%)
$1,001.66
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $1,001.66 ÷ (1 + 6.63%)10
$527.07
NasdaqGS:CECE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $260.00 + $527.07
$787.07
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $787.07 / 35.28
$22.31
NasdaqGS:CECE Discount to Share Price
Calculation Result
Value per share (USD) From above. $22.31
Current discount Discount to share price of $4.67
= -1 x ($4.67 - $22.31) / $22.31
79.1%

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

Current Discount
Amount off the current price CECO Environmental is available for.
Intrinsic value
>50%
Share price is $4.67 vs Future cash flow value of $22.31
Current Discount Checks
For CECO Environmental to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • CECO Environmental's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • CECO Environmental'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 CECO Environmental's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are CECO Environmental's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:CECE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $0.51
NasdaqGS:CECE Share Price ** NasdaqGS (2020-04-02) in USD $4.67
United States of America Commercial Services Industry PE Ratio Median Figure of 53 Publicly-Listed Commercial Services Companies 19.23x
United States of America Market PE Ratio Median Figure of 2,944 Publicly-Listed Companies 12.5x

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

** Primary Listing of CECO Environmental.

NasdaqGS:CECE PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:CECE Share Price ÷ EPS (both in USD)

= 4.67 ÷ 0.51

9.23x

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

  • CECO Environmental is good value based on earnings compared to the US Commercial Services industry average.
  • CECO Environmental is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does CECO Environmental's expected growth come at a high price?
Raw Data
NasdaqGS:CECE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.23x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
0.7%per year
United States of America Commercial Services Industry PEG Ratio Median Figure of 35 Publicly-Listed Commercial Services Companies 1.21x
United States of America Market PEG Ratio Median Figure of 2,008 Publicly-Listed Companies 0.91x

*Line of best fit is calculated by linear regression .

NasdaqGS:CECE PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 9.23x ÷ 0.7%

13.28x

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

  • CECO Environmental is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on CECO Environmental's assets?
Raw Data
NasdaqGS:CECE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $5.49
NasdaqGS:CECE Share Price * NasdaqGS (2020-04-02) in USD $4.67
United States of America Commercial Services Industry PB Ratio Median Figure of 86 Publicly-Listed Commercial Services Companies 1.14x
United States of America Market PB Ratio Median Figure of 5,142 Publicly-Listed Companies 1.22x
NasdaqGS:CECE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:CECE Share Price ÷ Book Value per Share (both in USD)

= 4.67 ÷ 5.49

0.85x

* Primary Listing of CECO Environmental.

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

  • CECO Environmental is good value based on assets compared to the US Commercial Services industry average.
X
Value checks
We assess CECO Environmental'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. CECO Environmental has a total score of 5/6, see the detailed checks below.

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

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

CECE Future Performance

 How is CECO Environmental expected to perform in the next 1 to 3 years based on estimates from 5 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
0.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is CECO Environmental expected to grow at an attractive rate?
  • CECO Environmental's earnings growth is positive but not above the low risk savings rate of 1.7%.
Growth vs Market Checks
  • CECO Environmental's earnings growth is positive but not above the United States of America market average.
  • CECO Environmental's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:CECE Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:CECE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 0.7%
NasdaqGS:CECE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 5%
United States of America Commercial Services Industry Earnings Growth Rate Market Cap Weighted Average 13.6%
United States of America Commercial Services Industry Revenue Growth Rate Market Cap Weighted Average 3.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 12.2%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*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
NasdaqGS:CECE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:CECE Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 379 30 19 3
2020-12-31 354 24 15 5
2020-04-03
NasdaqGS:CECE Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 342 10 18
2019-09-30 346 18 10
2019-06-30 349 1 -5
2019-03-31 349 5 -11
2018-12-31 337 22 -7
2018-09-30 317 11 -20
2018-06-30 314 15 -4
2018-03-31 327 5 3
2017-12-31 345 7 -3
2017-09-30 371 16 -43
2017-06-30 388 27 -40
2017-03-31 406 65 -41

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • CECO Environmental's earnings are expected to grow by 0.7% yearly, however this is not considered high growth (20% yearly).
  • CECO Environmental's revenue is expected to grow by 5% 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
NasdaqGS:CECE 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 5 Analyst Estimates (S&P Global) See Below

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

NasdaqGS:CECE Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.52 0.56 0.48 3.00
2020-12-31 0.41 0.59 0.32 5.00
2020-04-03
NasdaqGS:CECE Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 0.51
2019-09-30 0.29
2019-06-30 -0.13
2019-03-31 -0.32
2018-12-31 -0.21
2018-09-30 -0.57
2018-06-30 -0.11
2018-03-31 0.08
2017-12-31 -0.09
2017-09-30 -1.24
2017-06-30 -1.17
2017-03-31 -1.21

*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 CECO Environmental will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess CECO Environmental'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 United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
CECO Environmental has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

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

CECE Past Performance

  How has CECO Environmental 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 CECO Environmental'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.
  • CECO Environmental's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • CECO Environmental has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • CECO Environmental has become profitable in the last year making it difficult to compare the US Commercial Services industry average.
Earnings and Revenue History
CECO Environmental'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 CECO Environmental Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:CECE Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 341.87 17.71 85.98
2019-09-30 346.31 10.24 87.19
2019-06-30 349.30 -4.60 87.47
2019-03-31 349.21 -11.02 87.40
2018-12-31 337.34 -7.12 87.46
2018-09-30 317.03 -19.64 87.21
2018-06-30 313.76 -3.69 86.92
2018-03-31 326.54 2.70 86.98
2017-12-31 345.05 -3.03 88.98
2017-09-30 371.49 -42.61 87.68
2017-06-30 388.10 -39.84 85.31
2017-03-31 406.49 -41.28 83.95
2016-12-31 417.01 -38.22 82.74
2016-09-30 418.28 9.88 82.80
2016-06-30 414.91 -0.75 81.30
2016-03-31 389.61 -2.70 74.61
2015-12-31 367.42 -5.60 67.33
2015-09-30 342.28 -0.66 61.20
2015-06-30 307.35 7.87 56.18
2015-03-31 287.03 10.25 53.42
2014-12-31 263.22 13.08 51.44
2014-09-30 255.84 13.98 49.46
2014-06-30 242.33 8.82 45.77
2014-03-31 220.13 7.37 42.19
2013-12-31 197.32 6.56 37.10
2013-09-30 162.92 6.84 30.74
2013-06-30 146.23 11.57 27.59

*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.
  • CECO Environmental has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • CECO Environmental used its assets less efficiently than the US Commercial Services industry average last year based on Return on Assets.
  • CECO Environmental's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess CECO Environmental'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.
CECO Environmental 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.

CECE Health

 How is CECO Environmental'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 CECO Environmental's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • CECO Environmental is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • CECO Environmental's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of CECO Environmental's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 2.7x 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 CECO Environmental Company Filings, last reported 3 months ago.

NasdaqGS:CECE Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 193.02 65.50 35.60
2019-09-30 184.17 67.50 28.96
2019-06-30 182.57 75.04 28.83
2019-03-31 177.39 74.73 28.17
2018-12-31 178.56 76.16 43.68
2018-09-30 177.41 82.98 30.72
2018-06-30 191.23 86.20 35.56
2018-03-31 194.57 90.00 33.09
2017-12-31 186.57 120.13 29.90
2017-09-30 197.07 122.23 24.57
2017-06-30 194.62 120.09 27.17
2017-03-31 189.36 124.72 45.00
2016-12-31 190.08 128.49 45.82
2016-09-30 244.46 138.75 41.81
2016-06-30 246.98 152.53 56.61
2016-03-31 246.57 170.63 33.39
2015-12-31 245.02 177.33 34.19
2015-09-30 250.62 194.28 30.76
2015-06-30 180.56 111.69 17.09
2015-03-31 179.33 112.91 18.99
2014-12-31 181.22 111.86 18.16
2014-09-30 177.86 84.31 18.04
2014-06-30 175.60 79.18 17.79
2014-03-31 171.87 82.17 19.23
2013-12-31 170.41 89.08 22.66
2013-09-30 168.42 91.62 13.59
2013-06-30 73.09 1.58 5.07
  • CECO Environmental's level of debt (33.9%) 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 (61.7% vs 33.9% today).
  • Debt is not well covered by operating cash flow (15.6%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.6x coverage).
X
Financial health checks
We assess CECO Environmental'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. CECO Environmental 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.

CECE Dividends

 What is CECO Environmental'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%
Current annual income from CECO Environmental dividends.
If you bought $2,000 of CECO Environmental shares you are expected to receive $0 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?
  • Unable to evaluate CECO Environmental's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate CECO Environmental's dividend against the top 25% market benchmark as the company has not reported any payouts.
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
NasdaqGS:CECE 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 5 Analyst Estimates (S&P Global) See Below
United States of America Commercial Services Industry Average Dividend Yield Market Cap Weighted Average of 42 Stocks 2.2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1941 Stocks 3.1%
United States of America Minimum Threshold Dividend Yield 10th Percentile 1.1%
United States of America Bottom 25% Dividend Yield 25th Percentile 2%
United States of America Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

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

NasdaqGS:CECE Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31
2020-04-03
NasdaqGS:CECE Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-11-06 0.000 0.000
2019-08-06 0.000 0.000
2019-05-08 0.000 0.000
2019-03-07 0.000 0.000
2018-11-07 0.000 0.000
2018-08-08 0.000 0.000
2018-05-10 0.000 0.000
2018-03-09 0.000 0.000
2018-03-08 0.000 0.000
2017-08-09 0.000 0.000
2017-05-10 0.300 3.141
2017-03-14 0.300 2.782
2017-03-09 0.300 2.774
2016-11-08 0.264 2.055
2016-08-09 0.264 2.470
2016-05-10 0.264 3.079
2015-11-12 0.264 3.805
2015-11-09 0.264 2.738
2015-08-07 0.264 2.933
2015-08-06 0.264 2.962
2015-03-05 0.264 2.409
2014-11-06 0.240 1.666
2014-08-08 0.240 1.759
2014-05-08 0.240 1.649
2013-11-13 0.200 1.242
2013-09-04 0.200 1.325
2013-06-03 0.200 1.564
2013-03-07 0.200 1.641
2012-11-27 0.180 1.744
2012-08-14 0.180 1.904
2012-06-05 0.140 1.789
2012-03-09 0.140 1.790
2011-11-16 0.100 1.592
2011-08-25 0.100 1.726

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

  • Unable to perform a dividend volatility check as CECO Environmental has not reported any payouts.
  • Unable to verify if CECO Environmental's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of CECO Environmental's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as CECO Environmental has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess CECO Environmental's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - 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 CECO Environmental afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. CECO Environmental 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.

CECE Management

 What is the CEO of CECO Environmental'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
Dennis Sadlowski
COMPENSATION $2,062,753
AGE 58
TENURE AS CEO 3.3 years
CEO Bio

Mr. Dennis Sadlowski has been the Chief Executive Officer of CECO Environmental Corp. since June 12, 2017 and had been its President since January 23, 2017 till June 2017. Mr. Sadlowski served as an Interim Chief Executive Officer of CECO Environmental Corp. from January 23, 2017 to June 12, 2017. Mr. Sadlowski served as the Chief Executive Officer of International Battery, Inc. from September 23, 2011 to April 2012. Mr. Sadlowski served as the Chief Operating Officer of LSG Sky Chefs North America from April 2013 to March 2015. As Chief Operating Officer, Mr. Sadlowski oversaw operations across over 40 locations in North America and managed over 8,000 employees. Mr. Sadlowski worked at Siemens from July 2000 to March 2010. His responsibilities at Siemens Energy & Automation included overseeing six operating divisions along a combined sales organization, a number of wholly-owned subsidiaries and over 12,000 employees. He served as the Chief Executive Officer and President of Siemens Energy & Automation, Inc. at Siemens Aktiengesellschaft and Siemens Corporation from July 1, 2007 to October 2009. He served as the Chief Operating Officer of Siemens Energy & Automation, Inc. since June 2006. Mr. Sadlowski blends global strategic leadership capabilities along with operating depth across a variety of long cycle businesses. He has led global executive teams to strong organic growth supplemented with targeted acquisitions. He was responsible for all staff functions, subsidiaries and business operations including the Sales organization and seven operating divisions: Automation & Motion, Electronic Assembly Systems, Metal Technologies, Postal Automation, Power Conversion, Power Distribution & Controls, Process Solutions and Residential Products. He served as the Chief Operating Officer and Vice President of Power Distribution & Controls. He served as the Vice President of Siemens Factory Automation Sensor group. He has 17 years of industry experience with GE and Thomas and Betts. He served as the Vice President and General Manager of Thomas & Betts. He began his career at GE where he held positions of increasing responsibility over a 10-year period. Mr. Sadlowski joined Siemens Energy and Automation in July 2000 to lead the Power Distribution Infrastructure & Controls Division as Vice President and General Manager until the end of 2003. He spent three years in Germany as the Head of Automation & Drives Sensor Business. He has been a Director of CECO Environmental Corp. since May 12, 2016. Mr. Sadlowski serves as a Director of Trojan Battery. He served as a Director of Siemens Energy & Automation Inc. He served as a Director of International Battery, Inc. and Chief Executive Officer from September 2011 to April 2012. He served as a Trustee of Manufacturers Alliance for Productivity and Innovation, Inc., (MAPI, Inc.). Mr. Sadlowski holds a Bachelor's degree in Chemical and Nuclear Engineering from the University of California at Berkeley in 1983. He holds an MBA from Seattle University in 1990.

CEO Compensation
  • Dennis's compensation has increased in line with CECO Environmental recently becoming profitable.
  • Dennis's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the CECO Environmental management team in years:

3.5
Average Tenure
47
Average Age
  • The tenure for the CECO Environmental management team is about average.
Management Team

Dennis Sadlowski

TITLE
CEO & Director
COMPENSATION
$2M
AGE
58
TENURE
3.3 yrs

Matt Eckl

TITLE
Chief Financial Officer
COMPENSATION
$939K
AGE
38
TENURE
3.3 yrs

Paul Gohr

TITLE
Chief Accounting Officer
COMPENSATION
$374K
AGE
37
TENURE
2.9 yrs

Jonathan Pollack

TITLE
Assistant Secretary & Director
COMPENSATION
$193K
AGE
48
TENURE
7.9 yrs

Hillary Jeffries

TITLE
Chief Human Resources & Administration Officer

Gennaro D'Alterio

TITLE
President of Fluid Handling and Filtration Business Segment
AGE
47
TENURE
6.1 yrs

Steve Fritz

TITLE
President of Recurring Revenues
TENURE
3.8 yrs

Ray Smith

TITLE
Divisional Controller of Air Pollution Control (APC) Technology Segment
Board of Directors Tenure

Average tenure and age of the CECO Environmental board of directors in years:

4.4
Average Tenure
51.5
Average Age
  • The tenure for the CECO Environmental board of directors is about average.
Board of Directors

Jason DeZwirek

TITLE
Chairman of the Board
COMPENSATION
$310K
AGE
48
TENURE
6.9 yrs

Dennis Sadlowski

TITLE
CEO & Director
COMPENSATION
$2M
AGE
58
TENURE
3.9 yrs

Jonathan Pollack

TITLE
Assistant Secretary & Director
COMPENSATION
$193K
AGE
48
TENURE
8.9 yrs

Claudio Mannarino

TITLE
Independent Director
COMPENSATION
$145K
AGE
49
TENURE
4.8 yrs

Valerie Sachs

TITLE
Independent Director
COMPENSATION
$130K
AGE
63
TENURE
3.9 yrs

David Liner

TITLE
Independent Director
COMPENSATION
$130K
AGE
63
TENURE
2.9 yrs

Eric Goldberg

TITLE
Independent Director
COMPENSATION
$115K
AGE
49
TENURE
7 yrs

Munish Nanda

TITLE
Independent Director
COMPENSATION
$83K
AGE
54
TENURE
1.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
27. Aug 19 Buy David Liner Individual 27. Aug 19 27. Aug 19 3,000 $6.90 $20,700
16. Aug 19 Buy Dennis Sadlowski Individual 15. Aug 19 15. Aug 19 2,000 $7.00 $14,000
13. May 19 Buy Matthew Eckl Individual 09. May 19 09. May 19 1,900 $8.14 $15,466
X
Management checks
We assess CECO Environmental'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. CECO Environmental 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.

CECE News

Simply Wall St News

If You Had Bought CECO Environmental (NASDAQ:CECE) Stock Five Years Ago, You'd Be Sitting On A 51% Loss, Today

See our latest analysis for CECO Environmental Given that CECO Environmental didn't make a profit in the last twelve months, we'll focus on revenue growth to form a quick view of its business development. … Over five years, CECO Environmental grew its revenue at 3.7% per year. … Over the last 5 years, CECO Environmental generated a TSR of -46%, which is, of course, better than the share price return.

Simply Wall St -

What Kind Of Shareholder Owns Most CECO Environmental Corp. (NASDAQ:CECE) Stock?

Insider Ownership Of CECO Environmental The definition of an insider can differ slightly between different countries, but members of the board of directors always count. … Private Company Ownership We can see that Private Companies own 7.8%, of the shares on issue. … Next Steps: It's always worth thinking about the different groups who own shares in a company.

Simply Wall St -

Does CECO Environmental Corp.'s (NASDAQ:CECE) CEO Salary Compare Well With Others?

Dennis Sadlowski became the CEO of CECO Environmental Corp. … View our latest analysis for CECO Environmental How Does Dennis Sadlowski's Compensation Compare With Similar Sized Companies? … If you want to buy a stock that is better than CECO Environmental, this free list of high return, low debt companies is a great place to look.

Simply Wall St -

How Financially Strong Is CECO Environmental Corp. (NASDAQ:CECE)?

(NASDAQ:CECE) is a small-cap stock with a market capitalization of US$270m. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health.

Simply Wall St -

The CECO Environmental (NASDAQ:CECE) Share Price Is Up 64% And Shareholders Are Holding On

CECO Environmental isn't a profitable company, so it is unlikely we'll see a strong correlation between its share price and its earnings per share (EPS). … In the last year CECO Environmental saw its revenue shrink by 2.2%. … We can correlate the share price rise with revenue or profit growth, but it seems the market had previously expected weaker results, and sentiment around the stock is improving.

Simply Wall St -

CECO Environmental Corp. (NASDAQ:CECE): What Does Its Beta Value Mean For Your Portfolio?

Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.

Simply Wall St -

What Kind Of Shareholder Owns Most CECO Environmental Corp. (NASDAQ:CECE) Stock?

Every investor in CECO Environmental Corp. … Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … With a market capitalization of US$244m, CECO Environmental is a small cap stock, so it might not be well known by many institutional investors.

Simply Wall St -

Is There An Opportunity With CECO Environmental Corp.'s (NASDAQ:CECE) 48.89% Undervaluation?

by estimating the company's future cash flows and discounting them to their present value. … discounted cash flows (DCF). … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model

Simply Wall St -

Should You Take Comfort From Insider Transactions At CECO Environmental Corp. (NASDAQ:CECE)?

So shareholders might well want to know whether insiders have been buying or selling shares in CECO Environmental Corp. … CECO Environmental Insider Transactions Over The Last Year. … In the last twelve months there was more buying than selling by CECO Environmental insiders

Simply Wall St -

Is CECO Environmental Corp. (NASDAQ:CECE) A Financially Sound Company?

Investors are always looking for growth in small-cap stocks like CECO Environmental Corp. … However, an important fact which most ignore is: how financially healthy is the business? … the current state of its operations and pathway to profitability.

Simply Wall St -

CECE Company Info

Description

CECO Environmental Corp. provides industrial air quality and fluid handling systems for the energy, industrial, and other markets worldwide. The company operates through three segments: Energy Solutions, Industrial Solutions, and Fluid Handling Solutions. The company engineers, designs, builds, and installs systems that capture, clean, and destroy airborne contaminants from industrial facilities, as well as equipment that control emissions from such facilities; and fluid handling and filtration systems. Its products and services include dampers and diverters, selective catalytic reduction and selective non-catalytic reduction systems, cyclonic technology, thermal oxidizers, filtration systems, scrubbers, and fluid handling equipment, as well as plant engineering services and engineered design build fabrication. The company markets its products and services to natural gas processors, transmission and distribution companies, refineries, power generators, boiler manufacturers, compressor manufacturers, metals and minerals, industrial manufacturing, and engineering and construction companies. CECO Environmental Corp. was founded in 1966 and is headquartered in Dallas, Texas.

Details
Name: CECO Environmental Corp.
CECE
Exchange: NasdaqGS
Founded: 1966
$164,780,235
35,284,847
Website: http://www.cecoenviro.com
Address: CECO Environmental Corp.
14651 North Dallas Parkway,
Suite 500,
Dallas,
Texas, 75254,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS CECE Common Stock Nasdaq Global Select US USD 13. Dec 1972
DB WCE Common Stock Deutsche Boerse AG DE EUR 13. Dec 1972
BRSE WCE Common Stock Berne Stock Exchange CH CHF 13. Dec 1972
Number of employees
Current staff
Staff numbers
830
CECO Environmental employees.
Industry
Environmental and Facilities Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/03 03:51
End of day share price update: 2020/04/02 00:00
Last estimates confirmation: 2020/03/12
Last earnings filing: 2020/03/04
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.