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GuruFocus Financial Strength Rank measures how strong a company’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 : 5/10

vs
industry
vs
history
Cash to Debt 0.04
CPN's Cash to Debt is ranked higher than
57% of the 167 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 0.15 vs. CPN: 0.04 )
CPN' s 10-Year Cash to Debt Range
Min: 0.03   Max: No Debt
Current: 0.04

Equity to Asset 0.19
CPN's Equity to Asset is ranked higher than
62% of the 157 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 0.35 vs. CPN: 0.19 )
CPN' s 10-Year Equity to Asset Range
Min: -0.44   Max: 1
Current: 0.19

-0.44
1
Interest Coverage 1.26
CPN's Interest Coverage is ranked higher than
67% of the 85 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 1.74 vs. CPN: 1.26 )
CPN' s 10-Year Interest Coverage Range
Min: 0.64   Max: 9999.99
Current: 1.26

0.64
9999.99
F-Score: 7
Z-Score: 0.53
M-Score: -2.57
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’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.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

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 : 6/10

vs
industry
vs
history
Operating margin (%) 16.46
CPN's Operating margin (%) is ranked higher than
82% of the 163 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 12.52 vs. CPN: 16.46 )
CPN' s 10-Year Operating margin (%) Range
Min: -42.43   Max: 49.72
Current: 16.46

-42.43
49.72
Net-margin (%) 4.48
CPN's Net-margin (%) is ranked higher than
75% of the 163 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 5.89 vs. CPN: 4.48 )
CPN' s 10-Year Net-margin (%) Range
Min: -96.48   Max: 33.79
Current: 4.48

-96.48
33.79
ROE (%) 9.47
CPN's ROE (%) is ranked higher than
87% of the 165 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 4.53 vs. CPN: 9.47 )
CPN' s 10-Year ROE (%) Range
Min: -5.28   Max: 16.38
Current: 9.47

-5.28
16.38
ROA (%) 1.96
CPN's ROA (%) is ranked higher than
80% of the 169 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 1.14 vs. CPN: 1.96 )
CPN' s 10-Year ROA (%) Range
Min: -41.62   Max: 14.31
Current: 1.96

-41.62
14.31
ROC (Joel Greenblatt) (%) 8.78
CPN's ROC (Joel Greenblatt) (%) is ranked higher than
85% of the 168 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 4.28 vs. CPN: 8.78 )
CPN' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -135.68   Max: 30.61
Current: 8.78

-135.68
30.61
Revenue Growth (%) 1.80
CPN's Revenue Growth (%) is ranked higher than
74% of the 137 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 8.60 vs. CPN: 1.80 )
CPN' s 10-Year Revenue Growth (%) Range
Min: -11.9   Max: 77
Current: 1.8

-11.9
77
EBITDA Growth (%) 7.80
CPN's EBITDA Growth (%) is ranked higher than
76% of the 119 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 11.20 vs. CPN: 7.80 )
CPN' s 10-Year EBITDA Growth (%) Range
Min: 0   Max: 117.3
Current: 7.8

0
117.3
» CPN's 10-Y Financials

Financials


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

» Details

Guru Trades

Q3 2013

CPN Guru Trades in Q3 2013

Jim Simons 857,800 sh (New)
Caxton Associates 298,285 sh (New)
Ray Dalio 38,576 sh (New)
Steven Cohen 131,312 sh (+69.27%)
RS Investment Management 21,521,624 sh (+1.73%)
Robert Bruce 294,849 sh (unchged)
Jean-Marie Eveillard 1,000 sh (unchged)
Richard Perry Sold Out
Larry Robbins 4,426,959 sh (-27.97%)
Murray Stahl 20,489 sh (-27.98%)
Signature Select Canadian Fund 281,950 sh (-30.2%)
John Burbank 1,068,586 sh (-48.96%)
» More
Q4 2013

CPN Guru Trades in Q4 2013

Lee Ainslie 9,418,271 sh (New)
Louis Moore Bacon 400,000 sh (New)
Caxton Associates 750,000 sh (+151.44%)
Jim Simons 1,221,700 sh (+42.42%)
Ray Dalio 53,076 sh (+37.59%)
RS Investment Management 24,248,424 sh (+12.67%)
Larry Robbins 4,426,959 sh (unchged)
Jean-Marie Eveillard 1,000 sh (unchged)
Murray Stahl 20,489 sh (unchged)
Robert Bruce 294,849 sh (unchged)
John Burbank 1,068,043 sh (-0.05%)
Steven Cohen 40,360 sh (-69.26%)
» More
Q1 2014

CPN Guru Trades in Q1 2014

Steven Cohen 203,422 sh (+404.02%)
Jim Simons 2,662,249 sh (+117.91%)
Lee Ainslie 11,225,032 sh (+19.18%)
Jean-Marie Eveillard 1,000 sh (unchged)
Robert Bruce 294,849 sh (unchged)
Signature Select Canadian Fund Sold Out
Larry Robbins Sold Out
Caxton Associates Sold Out
Ray Dalio Sold Out
Louis Moore Bacon Sold Out
Murray Stahl 19,427 sh (-5.18%)
John Burbank 940,184 sh (-11.97%)
RS Investment Management 21,028,938 sh (-13.28%)
» More
Q2 2014

CPN Guru Trades in Q2 2014

Mario Gabelli 11,130 sh (New)
John Burbank 1,042,449 sh (+10.88%)
Jean-Marie Eveillard 1,000 sh (unchged)
Robert Bruce 294,849 sh (unchged)
Lee Ainslie 10,105,447 sh (-9.97%)
Murray Stahl 13,598 sh (-30%)
Jim Simons 1,584,800 sh (-40.47%)
RS Investment Management 5,169,325 sh (-75.42%)
» More
» Details

Insider Trades

Latest Guru Trades with CPN

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Lee Ainslie 2014-06-30 Reduce -9.97%0.33%$20.58 - $24.21 $ 21.96-3%10105447
Mario Gabelli 2014-06-30 New Buy$20.58 - $24.21 $ 21.96-3%11130
Lee Ainslie 2014-03-31 Add 19.18%0.53%$18.53 - $20.8 $ 21.9612%11225032
Ray Dalio 2014-03-31 Sold Out 0.01%$18.53 - $20.8 $ 21.9612%0
Lee Ainslie 2013-12-31 New Buy2.4%$18.88 - $20.92 $ 21.9613%9418271
Ray Dalio 2013-12-31 Add 37.59%$18.88 - $20.92 $ 21.9613%53076
Richard Perry 2013-09-30 Sold Out 1.8%$18.69 - $21.91 $ 21.9611%0
John Burbank 2013-09-30 Reduce -48.96%0.73%$18.69 - $21.91 $ 21.9611%1068586
Ray Dalio 2013-09-30 New Buy0.01%$18.69 - $21.91 $ 21.9611%38576
John Burbank 2013-06-30 Add 65.39%0.59%$19.68 - $22.01 $ 21.965%2093756
Richard Perry 2013-06-30 Reduce -17.65%0.48%$19.68 - $22.01 $ 21.965%3386423
Jean-Marie Eveillard 2013-06-30 Reduce -99.93%0.09%$19.68 - $22.01 $ 21.965%1000
John Burbank 2013-03-31 New Buy1%$18.05 - $20.6 $ 21.9614%1265965
Jean-Marie Eveillard 2013-03-31 Reduce -71.65%0.22%$18.05 - $20.6 $ 21.9614%1340630
Jean-Marie Eveillard 2012-12-31 Add 472723%0.31%$16.58 - $18.6 $ 21.9625%4728233
Richard Perry 2012-09-30 New Buy3%$16.57 - $18.53 $ 21.9627%4100000
T Boone Pickens 2012-09-30 Sold Out 2%$16.57 - $18.53 $ 21.9627%0
John Burbank 2012-09-30 Sold Out 0.01%$16.57 - $18.53 $ 21.9627%0
T Boone Pickens 2012-06-30 Reduce -44.15%1.28%$16.01 - $19.01 $ 21.9627%161952
Joel Greenblatt 2012-06-30 Sold Out 0.02%$16.01 - $19.01 $ 21.9627%0
John Burbank 2012-06-30 New Buy0.01%$16.01 - $19.01 $ 21.9627%10700
T Boone Pickens 2012-03-31 New Buy2.9%$14.51 - $17.58 $ 21.9650%290000
Jean-Marie Eveillard 2012-03-31 Reduce -99.96%0.17%$14.51 - $17.58 $ 21.9650%1000
John Keeley 2012-03-31 Sold Out 0.03%$14.51 - $17.58 $ 21.9650%0
Joel Greenblatt 2012-03-31 New Buy0.02%$14.51 - $17.58 $ 21.9650%10526
Jean-Marie Eveillard 2011-12-31 Reduce -60.34%0.26%$13.37 - $16.54 $ 21.9648%2438134
George Soros 2011-12-31 Sold Out 0.0024%$13.37 - $16.54 $ 21.9648%0
John Keeley 2011-09-30 Reduce -36.52%0.01%$12.95 - $16.88 $ 21.9645%94195
George Soros 2011-09-30 New Buy$12.95 - $16.88 $ 21.9645%10100
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Top Ranked Articles about Calpine Corp

Weekly Guru Bargains Highlights: 00386, CPN, 600027, 6727, 6971
According to GuruFocus updates, these stocks have declined the most since Gurus have bought. Read more...

Ratios

vs
industry
vs
history
P/E(ttm) 28.70
CPN's P/E(ttm) is ranked higher than
79% of the 180 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 45.80 vs. CPN: 28.70 )
CPN' s 10-Year P/E(ttm) Range
Min: 2.11   Max: 625.71
Current: 28.7

2.11
625.71
P/B 2.80
CPN's P/B is ranked higher than
57% of the 180 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 1.25 vs. CPN: 2.80 )
CPN' s 10-Year P/B Range
Min: 0.47   Max: 3.03
Current: 2.8

0.47
3.03
P/S 1.30
CPN's P/S is ranked higher than
81% of the 180 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 2.06 vs. CPN: 1.30 )
CPN' s 10-Year P/S Range
Min: 0.25   Max: 1.84
Current: 1.3

0.25
1.84
PFCF 16.60
CPN's PFCF is ranked higher than
85% of the 180 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 9999.00 vs. CPN: 16.60 )
CPN' s 10-Year PFCF Range
Min: 3.09   Max: 1997
Current: 16.6

3.09
1997
EV-to-EBIT 16.36
CPN's EV-to-EBIT is ranked higher than
88% of the 180 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 30.62 vs. CPN: 16.36 )
CPN' s 10-Year EV-to-EBIT Range
Min: 6.5   Max: 698.7
Current: 16.36

6.5
698.7
PEG 9.63
CPN's PEG is ranked higher than
88% of the 180 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 9999.00 vs. CPN: 9.63 )
CPN' s 10-Year PEG Range
Min: 3.69   Max: 262.31
Current: 9.63

3.69
262.31
Shiller P/E 161.70
CPN's Shiller P/E is ranked higher than
81% of the 180 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 9999.00 vs. CPN: 161.70 )
CPN' s 10-Year Shiller P/E Range
Min: 13.23   Max: 348.67
Current: 161.7

13.23
348.67
Current Ratio 1.73
CPN's Current Ratio is ranked higher than
87% of the 164 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 1.29 vs. CPN: 1.73 )
CPN' s 10-Year Current Ratio Range
Min: 0.42   Max: 6.57
Current: 1.73

0.42
6.57
Quick Ratio 1.55
CPN's Quick Ratio is ranked higher than
87% of the 164 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 1.11 vs. CPN: 1.55 )
CPN' s 10-Year Quick Ratio Range
Min: 0.4   Max: 6.45
Current: 1.55

0.4
6.45

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 2.80
CPN's Price/Tangible Book is ranked higher than
53% of the 180 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 1.90 vs. CPN: 2.80 )
CPN' s 10-Year Price/Tangible Book Range
Min: 0.64   Max: 2.98
Current: 2.8

0.64
2.98
Price/DCF (Projected) 1.50
CPN's Price/DCF (Projected) is ranked higher than
86% of the 180 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 9999.00 vs. CPN: 1.50 )
CPN' s 10-Year Price/DCF (Projected) Range
Min: 1.32   Max: 5.02
Current: 1.5

1.32
5.02
Price/Median PS Value 1.10
CPN's Price/Median PS Value is ranked higher than
56% of the 180 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 0.90 vs. CPN: 1.10 )
CPN' s 10-Year Price/Median PS Value Range
Min: 0.31   Max: 1.55
Current: 1.1

0.31
1.55
Price/Peter Lynch Fair Value 3.90
CPN's Price/Peter Lynch Fair Value is ranked higher than
84% of the 180 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 9999.00 vs. CPN: 3.90 )
CPN' s 10-Year Price/Peter Lynch Fair Value Range
Min: 4.21   Max: 15.15
Current: 3.9

4.21
15.15
Price/Graham Number 1.90
CPN's Price/Graham Number is ranked higher than
64% of the 180 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 1.80 vs. CPN: 1.90 )
CPN' s 10-Year Price/Graham Number Range
Min: 0.5   Max: 7.96
Current: 1.9

0.5
7.96
Earnings Yield (Greenblatt) 6.10
CPN's Earnings Yield (Greenblatt) is ranked higher than
84% of the 140 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: 3.80 vs. CPN: 6.10 )
CPN' s 10-Year Earnings Yield (Greenblatt) Range
Min: 0.1   Max: 15.4
Current: 6.1

0.1
15.4
Forward Rate of Return (Yacktman) 9.78
CPN's Forward Rate of Return (Yacktman) is ranked higher than
89% of the 129 Companies
in the Global Utilities - Independent Power Producers industry.

( Industry Median: -2.85 vs. CPN: 9.78 )
CPN' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -101.4   Max: 10.4
Current: 9.78

-101.4
10.4

Business Description

Industry: Utilities - Independent Power Producers » Utilities - Independent Power Producers
Compare:HGKGY, CRPJY, BRPFF, RSHYY, NRG » details
Traded in other countries:CJ3A.Germany
Calpine Corp is a Delaware corporation, which was established in 1984. It is an independent wholesale power generation company which owns and operates natural gas-fired and geothermal power plants in North America. 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. It has also entered into natural gas and power physical and financial contracts 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. The Company is the owner and operator of industrial gas turbines as well as cogeneration power plants. Its portfolio, including partnership interests, consists of 92 operating power plants, located throughout 20 states in the U.S. and Canada, with an aggregate generation capacity of approximately 27,321 MW. The Company's fleet, including projects under construction, consists of 74 combustion turbine-based plants, 2 fossil steam-based plants, 15 geothermal turbine-based plants and 1 photovoltaic solar plant. In addition, the Company is actively pursuing the development of its Russell City Energy Center, which upon completion will bring on line approximately 429 MW of net interest base load capacity . Most of the power generated by power plants is sold, scheduled and settled by energy marketing unit, which sells to entities such as utilities, municipalities and cooperatives, as well as to retail power providers, commercial and industrial end users, financial institutions, power trading and marketing companies and other third parties. The Company competes against other independent power producers, power marketers or trading companies, including those owned by financial institutions, retail load aggregators, municipalities, retail power providers, cooperatives and regulated utilities to supply power and power-related products to its customers in major markets in the U.S and Canada. It is subject to complex and stringent energy, environmental and other governmental laws and regulations at the federal, state and local levels in connection with the development, ownership and operation of its power plants.
» More Articles for CPN

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