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21.75 (1y: +33%)
Market Cap 9.87 B P/E(ttm) 116.80
Enterprise Value 19.63 B P/B 2.50
CPN- NYSE (USA)
Calpine Corp
  • Currently 1/5
Business Predictability Rank: 1-Star (On Watch)
Back Testing Results:
Average gain of all 1-Star stocks: 1.1% per year.
% of Stocks that are in still loss if held for 10yrs: 45%.
Read more:
What is Predictability Rank?
Performances of real portfolio
Top Ranked Predictable Companies
$21.75
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GuruFocus Financial Strength Rank measures how strong a companyย’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 3/10

vs
industry		 vs
history
Cash to Debt 0.119
CPN's Cash to Debt is ranked higher than
66% of the 149 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 0.12 vs. CPN: 0.119 )
CPN' s 10-Year Cash to Debt Range
Min: 0.04   Max: 0.32
Current: 0.12
0.04
0.32
Equity to Asset 0.241
CPN's Equity to Asset is ranked higher than
59% of the 149 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 0.30 vs. CPN: 0.241 )
CPN' s 10-Year Equity to Asset Range
Min: -0.39   Max: 0.27
Current: 0.24
-0.39
0.27
Interest Coverage 1.4
CPN's Interest Coverage is ranked higher than
81% of the 149 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 0.00 vs. CPN: 1.4 )
CPN' s 10-Year Interest Coverage Range
Min: 0   Max: 36
Current: 1.4
0
36
F-Score: 5
Z-Score: 0.1
M-Score: -1.57
GuruFocus Profitability Rank ranks how profitable a company is and how likely the companyย’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
ย•ย•3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rankย•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 5/10

vs
industry		 vs
history
Operating margin (%) 18.30
CPN's Operating margin (%) is ranked higher than
85% of the 149 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 7.20 vs. CPN: 18.30 )
CPN' s 10-Year Operating margin (%) Range
Min: -43.2   Max: 26.7
Current: 18.3
-43.2
26.7
Net-margin (%) 3.6
CPN's Net-margin (%) is ranked higher than
74% of the 149 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 0.00 vs. CPN: 3.6 )
CPN' s 10-Year Net-margin (%) Range
Min: -98.3   Max: 33.8
Current: 3.6
-98.3
33.8
ROE (%) 5
CPN's ROE (%) is ranked higher than
80% of the 149 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 0.00 vs. CPN: 5 )
CPN' s 10-Year ROE (%) Range
Min: -5.3   Max: 21.5
Current: 5
-5.3
21.5
ROA (%) 1.2
CPN's ROA (%) is ranked higher than
77% of the 149 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 0.00 vs. CPN: 1.2 )
CPN' s 10-Year ROA (%) Range
Min: -48.4   Max: 14.6
Current: 1.2
-48.4
14.6
ROC (Joel Greenblatt) (%) 7.50
CPN's ROC (Joel Greenblatt) (%) is ranked higher than
81% of the 149 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 2.60 vs. CPN: 7.50 )
CPN' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -37   Max: 9.4
Current: 7.5
-37
9.4
Revenue Growth (%) -3.7
CPN's Revenue Growth (%) is ranked lower than
54% of the 149 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 0.00 vs. CPN: -3.7 )
CPN' s 10-Year Revenue Growth (%) Range
Min: -11.2   Max: 52.4
Current: -3.7
-11.2
52.4
EBITDA Growth (%) 0.6
CPN's EBITDA Growth (%) is ranked higher than
82% of the 149 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 0.00 vs. CPN: 0.6 )
CPN' s 10-Year EBITDA Growth (%) Range
Min: -19.4   Max: 13.7
Current: 0.6
-19.4
13.7
EPS Growth (%) 7.9
CPN's EPS Growth (%) is ranked higher than
91% of the 149 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 0.00 vs. CPN: 7.9 )
CPN' s 10-Year EPS Growth (%) Range
Min: -67.9   Max: 7.9
Current: 7.9
-67.9
7.9
ยป CPN's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades
Q2 2012

CPN Guru Trades in Q2 2012

Jim Simons 1,080,500 sh (New)
John Burbank 10,700 sh (New)
Paul Tudor Jones 53,900 sh (New)
Steven Cohen 279,423 sh (+490.15%)
RS Investment Management 27,405,000 sh (+17.92%)
Robert Bruce 294,849 sh (unchged)
Jean-Marie Eveillard 1,000 sh (unchged)
Joel Greenblatt Sold Out
Jeremy Grantham Sold Out
Murray Stahl 65,053 sh (-4.99%)
T Boone Pickens 161,952 sh (-44.15%)
» More
Q3 2012

CPN Guru Trades in Q3 2012

Richard Perry 4,100,000 sh (New)
RS Investment Management 29,746,657 sh (+8.54%)
Murray Stahl 65,095 sh (+0.06%)
Robert Bruce 294,849 sh (unchged)
Jean-Marie Eveillard 1,000 sh (unchged)
Paul Tudor Jones Sold Out
John Burbank Sold Out
T Boone Pickens Sold Out
Jim Simons Sold Out
Signature Select Canadian Fund 287,450 sh (-31.58%)
Steven Cohen 39,361 sh (-85.91%)
» More
Q4 2012

CPN Guru Trades in Q4 2012

Louis Moore Bacon 300,000 sh (New)
Bruce Kovner 14,500 sh (New)
Jim Simons 117,600 sh (New)
Jean-Marie Eveillard 4,728,233 sh (+472723%)
Richard Perry 4,112,223 sh (+0.3%)
RS Investment Management 29,783,223 sh (+0.12%)
Robert Bruce 294,849 sh (unchged)
Steven Cohen Sold Out
Murray Stahl 43,306 sh (-33.47%)
» More
Q1 2013

CPN Guru Trades in Q1 2013

Larry Robbins 610,300 sh (New)
John Burbank 1,265,965 sh (New)
Jim Simons 1,184,036 sh (+906.83%)
Richard Perry 4,112,223 sh (unchged)
Robert Bruce 294,849 sh (unchged)
Louis Moore Bacon Sold Out
Bruce Kovner Sold Out
RS Investment Management 26,358,960 sh (-11.5%)
Murray Stahl 33,905 sh (-21.71%)
Jean-Marie Eveillard 1,340,630 sh (-71.65%)
» More
» Details

Insider Trades

Latest Guru Trades with CPN

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
John Burbank 2013-03-31 New Buy1%$18.05 - $20.6 $ 21.6512%1265965
Jean-Marie Eveillard 2013-03-31 Reduce -71.65%0.22%$18.05 - $20.6 $ 21.6512%1340630
Jean-Marie Eveillard 2012-12-31 Add 472723%0.31%$16.58 - $18.6 $ 21.6523%4728233
Richard Perry 2012-09-30 New Buy3%$16.57 - $18.53 $ 21.6525%4100000
John Burbank 2012-09-30 Sold Out 0.01%$16.57 - $18.53 $ 21.6525%0
Joel Greenblatt 2012-06-30 Sold Out 0.02%$16.01 - $19.01 $ 21.6525%0
John Burbank 2012-06-30 New Buy0.01%$16.01 - $19.01 $ 21.6525%10700
Jean-Marie Eveillard 2012-03-31 Reduce -99.96%0.17%$14.51 - $17.58 $ 21.6548%1000
John Keeley 2012-03-31 Sold Out 0.03%$14.51 - $17.58 $ 21.6548%0
Joel Greenblatt 2012-03-31 New Buy0.02%$14.51 - $17.58 $ 21.6548%10526
Jean-Marie Eveillard 2011-12-31 Reduce -60.34%0.26%$13.37 - $16.54 $ 21.6546%2438134
George Soros 2011-12-31 Sold Out 0.0024%$13.37 - $16.54 $ 21.6546%0
John Keeley 2011-09-30 Reduce -36.52%0.01%$12.95 - $16.88 $ 21.6543%94195
George Soros 2011-09-30 New Buy$12.95 - $16.88 $ 21.6543%10100
George Soros 2011-06-30 Sold Out $15.04 - $16.75 $ 21.6536%0
George Soros 2011-03-31 New Buy$13.34 - $16.08 $ 21.6547%10000
Jean-Marie Eveillard 2010-12-31 Add 527626%0.39%$12.1 - $13.71 $ 21.6571%5277259
George Soros 2010-12-31 Sold Out 0.01%$12.1 - $13.71 $ 21.6571%0
George Soros 2010-09-30 Reduce -55.48%0.01%$12.3 - $13.95 $ 21.6567%45900
George Soros 2010-06-30 Add 30.18%0.01%$11.74 - $14.02 $ 21.6564%103100
Jean-Marie Eveillard 2010-06-30 New Buy$11.74 - $14.02 $ 21.6564%1000
Premium More recent guru trades are included for Premium Members only!!
ยป Financial Charts

Peter Lynch Chart

Ratios

vs
industry		 vs
history
P/E(ttm) 116.80
CPN's P/E(ttm) is ranked lower than
68% of the 80 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 15.00 vs. CPN: 116.80 )
CPN' s 10-Year P/E(ttm) Range
Min: 2.11   Max: 657
Current: 116.8
2.11
657
P/B 2.50
CPN's P/B is ranked lower than
52% of the 123 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 1.02 vs. CPN: 2.50 )
CPN' s 10-Year P/B Range
Min: 0.53   Max: 3.08
Current: 2.5
0.53
3.08
P/S 1.80
CPN's P/S is ranked higher than
66% of the 134 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 1.60 vs. CPN: 1.80 )
CPN' s 10-Year P/S Range
Min: 0.25   Max: 1.84
Current: 1.8
0.25
1.84
PFCF 1087.50
CPN's PFCF is ranked lower than
71% of the 70 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 16.08 vs. CPN: 1087.50 )
CPN' s 10-Year PFCF Range
Min: 3.44   Max: 1997
Current: 1087.5
3.44
1997
EV-to-EBIT 23.8
CPN's EV-to-EBIT is ranked higher than
61% of the 90 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 18.42 vs. CPN: 23.8 )
CPN' s 10-Year EV-to-EBIT Range
Min: 6.4   Max: 30.7
Current: 23.8
6.4
30.7
PEG 67.6
CPN's PEG is ranked lower than
67% of the 30 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 1.13 vs. CPN: 67.6 )
CPN' s 10-Year PEG Range
Min: 50.35   Max: 67.4
Current: 67.6
50.35
67.4
Shiller P/E 17.6
CPN's Shiller P/E is ranked lower than
100% of the Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: vs. CPN: 17.6 )
CPN' s 10-Year Shiller P/E Range
Min: 14.92   Max: 49.48
Current: 17.6
14.92
49.48

Valuation & Return

vs
industry		 vs
history
Price/Net Current Asset Value 21
CPN's Price/Net Current Asset Value is ranked lower than
52% of the 90 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 17.90 vs. CPN: 21 )
CPN' s 10-Year Price/Net Current Asset Value Range
Min: 5.1   Max: 18.1
Current: 21
5.1
18.1
Price/Tangible Book 2.5
CPN's Price/Tangible Book is ranked lower than
62% of the 111 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 1.40 vs. CPN: 2.5 )
CPN' s 10-Year Price/Tangible Book Range
Min: 0.8   Max: 2.1
Current: 2.5
0.8
2.1
Price/DCF (Projected) 1.8
CPN's Price/DCF (Projected) is ranked higher than
60% of the 35 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 1.70 vs. CPN: 1.8 )
CPN' s 10-Year Price/DCF (Projected) Range
Min: 1.4   Max: 2.7
Current: 1.8
1.4
2.7
Price/Median PS Value 1.8
CPN's Price/Median PS Value is ranked lower than
66% of the 122 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 0.80 vs. CPN: 1.8 )
CPN' s 10-Year Price/Median PS Value Range
Min: 0.3   Max: 1.5
Current: 1.8
0.3
1.5
Price/Graham Number 2.4
CPN's Price/Graham Number is ranked lower than
79% of the 61 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 0.90 vs. CPN: 2.4 )
CPN' s 10-Year Price/Graham Number Range
Min: 1.4   Max: 3.6
Current: 2.4
1.4
3.6
Earnings Yield (Greenblatt) 4.20
CPN's Earnings Yield (Greenblatt) is ranked higher than
79% of the 149 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 1.90 vs. CPN: 4.20 )
CPN' s 10-Year Earnings Yield (Greenblatt) Range
Min: 3.3   Max: 15.6
Current: 4.2
3.3
15.6
Forward Rate of Return (Yacktman) 0.57
CPN's Forward Rate of Return (Yacktman) is ranked higher than
88% of the 149 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 0.00 vs. CPN: 0.57 )
CPN' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -70.1   Max: 8.9
Current: 0.57
-70.1
8.9

Business Description

Calpine Corp is a Delaware corporation, which was established in 1984. It is an independent wholesale power generation company engaged in the ownership and operation of natural gas-fired and geothermal power plants in North America. It has competitive power markets in the U.S., including California and Texas. The Company sells wholesale power, steam, capacity, renewable energy credits and ancillary services to its customers, including industrial companies, retail power providers, utilities, municipalities, independent electric system operators, marketers and others. It is engaged in the purchase of natural gas as fuel for power plants and in related natural gas transportation and storage transactions, and in the purchase of electric transmission rights to deliver power to its customers. Calpine enters into natural gas and power, commodity and financial derivative transactions to economically hedge its business risks and optimize portfolio of power plants. Its portfolio is comprised of two types of power generation technologies: natural gas-fired combustion turbines, which are mainly combined-cycle plants, and renewable geothermal conventional steam turbines. It sells power and other products under PPAs with duration greater than one year. The contracted sale of power, steam and capacity from its cogeneration power plants, combustion turbine power plants and geothermal power plants, as well as the sale of renewable energy credits, or RECs, from geothermal power plants, provide a stable source of revenue. Its portfolio also affords it the flexibility to sell power and other products forward for shorter terms or on a merchant basis into the spot markets, where the Company is able to realize attractive pricing particularly during peak demand periods. Additionally, it sells capacity or similar products to retail power providers, utilities, municipalities and others required to acquire capacity and similar products by regulatory or market rules and sells ancillary services to independent system operators and utilities to support power transmission system reliability. The Company is the owner and operator of industrial gas turbines as well as cogeneration power plants. Its portfolio, including partnership interests, consists of 77 operating power plants, located throughout 16 states and Canada, with an aggregate generation capacity of approximately 24,802 MW. In addition, the Company is actively pursuing the development of its Russell City Energy Center, in which it has a net interest of approximately 400 MW, and an upgrade of 120 MW to Los Esteros Critical Energy Facility, both located in the San Francisco Bay Area. The Company has also begun geothermal exploration to increase its generation capability at Geysers Assets. It focuses on increasing its earnings and generating cash flow sufficient to maintain adequate levels of liquidity in order to service debt, meet its collateral needs and fund its operations and growth. Most of the pow
Company Website
SEC Reports
Industry: Utilities - Independent Power Producers
Compare:HGKGY, CRPJY, BRPFF, RSHYY, NRG
Traded in other countries:CJ3A.Germany
ยป More Articles for CPN

Headlines

Articles On GuruFocus.com
If You Own Utility Stocks, Consider Selling the Overvalued Ones - Part 1 Jul 25 2012 
New Developments Could Push First Solar Down Apr 20 2012 
Where to Look for M&A Activity in an Election Year Jan 10 2012 
Bill Nygren Comment on Calpine Corporation Jul 13 2010 
lhmeyer note on CPN Apr 11 2010 
Calpine Corp. Reports Solid 2009 Second Quarter Results, Increases Full Year 2009 Guidance Jul 31 2009 
Calpine to Announce Full Year and Fourth Quarter 2008 Earnings and 2009 Guidance on Feb. 27, 2009 Feb 02 2009 
Calpine Corporation Names Jim D. Deidiker Senior Vice President and Chief Accounting Officer Jan 08 2009 
Guru Stocks at 52-Week Low: FirstEnergy Corp, Lorillard, Agilent Technologies Inc, Calpine Corp, Dec 28 2008 

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