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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 : 8/10

vs
industry
vs
history
Cash to Debt No Debt
CRR's Cash to Debt is ranked higher than
96% of the 442 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 0.41 vs. CRR: No Debt )
CRR' s 10-Year Cash to Debt Range
Min: 0.07   Max: No Debt
Current: No Debt

Equity to Asset 0.87
CRR's Equity to Asset is ranked higher than
97% of the 437 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 0.52 vs. CRR: 0.87 )
CRR' s 10-Year Equity to Asset Range
Min: 0.8   Max: 0.89
Current: 0.87

0.8
0.89
Interest Coverage No Debt
CRR's Interest Coverage is ranked higher than
92% of the 309 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 12.54 vs. CRR: No Debt )
CRR' s 10-Year Interest Coverage Range
Min: 59   Max: 9999.99
Current: No Debt

59
9999.99
F-Score: 4
Z-Score: 19.62
M-Score: -2.55
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 : 8/10

vs
industry
vs
history
Operating margin (%) 18.67
CRR's Operating margin (%) is ranked higher than
87% of the 452 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 10.81 vs. CRR: 18.67 )
CRR' s 10-Year Operating margin (%) Range
Min: 18.67   Max: 39.95
Current: 18.67

18.67
39.95
Net-margin (%) 12.72
CRR's Net-margin (%) is ranked higher than
86% of the 452 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 6.57 vs. CRR: 12.72 )
CRR' s 10-Year Net-margin (%) Range
Min: 12.72   Max: 28.44
Current: 12.72

12.72
28.44
ROE (%) 11.04
CRR's ROE (%) is ranked higher than
82% of the 447 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 8.33 vs. CRR: 11.04 )
CRR' s 10-Year ROE (%) Range
Min: 11.04   Max: 42.99
Current: 11.04

11.04
42.99
ROA (%) 9.66
CRR's ROA (%) is ranked higher than
90% of the 451 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 4.25 vs. CRR: 9.66 )
CRR' s 10-Year ROA (%) Range
Min: 9.66   Max: 34.53
Current: 9.66

9.66
34.53
ROC (Joel Greenblatt) (%) 17.82
CRR's ROC (Joel Greenblatt) (%) is ranked higher than
83% of the 452 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 13.09 vs. CRR: 17.82 )
CRR' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 17.51   Max: 63.53
Current: 17.82

17.51
63.53
Revenue Growth (%) 12.20
CRR's Revenue Growth (%) is ranked higher than
81% of the 378 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 10.00 vs. CRR: 12.20 )
CRR' s 10-Year Revenue Growth (%) Range
Min: 2.9   Max: 24.1
Current: 12.2

2.9
24.1
EBITDA Growth (%) 5.40
CRR's EBITDA Growth (%) is ranked higher than
76% of the 335 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 7.20 vs. CRR: 5.40 )
CRR' s 10-Year EBITDA Growth (%) Range
Min: -5.9   Max: 30.4
Current: 5.4

-5.9
30.4
EPS Growth (%) 2.60
CRR's EPS Growth (%) is ranked higher than
77% of the 288 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 4.70 vs. CRR: 2.60 )
CRR' s 10-Year EPS Growth (%) Range
Min: -12.5   Max: 32
Current: 2.6

-12.5
32
» CRR's 10-Y Financials

Financials


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

» Details

Guru Trades

Q1 2013

CRR Guru Trades in Q1 2013

Steven Cohen 2,700 sh (New)
Murray Stahl 3,197 sh (+18.54%)
Tom Gayner 186,000 sh (+7.51%)
Chuck Royce 577,870 sh (+1.5%)
Ron Baron 1,205,847 sh (-2.2%)
Manning & Napier Advisors, Inc 28,000 sh (-3.75%)
Richard Snow 10,885 sh (-5.43%)
Joel Greenblatt 13,986 sh (-41.87%)
» More
Q2 2013

CRR Guru Trades in Q2 2013

Joel Greenblatt 59,665 sh (+326.61%)
Chuck Royce 743,296 sh (+28.63%)
Richard Snow 13,805 sh (+26.83%)
Tom Gayner 218,000 sh (+17.2%)
Murray Stahl 3,697 sh (+15.64%)
Manning & Napier Advisors, Inc 29,480 sh (+5.29%)
Steven Cohen Sold Out
Ron Baron 998,235 sh (-17.22%)
» More
Q3 2013

CRR Guru Trades in Q3 2013

Manning & Napier Advisors, Inc 85,380 sh (+189.62%)
Tom Gayner 236,000 sh (+8.26%)
Murray Stahl 3,597 sh (-2.7%)
Richard Snow 13,230 sh (-4.17%)
Chuck Royce 678,796 sh (-8.68%)
Ron Baron 681,458 sh (-31.73%)
Joel Greenblatt 9,641 sh (-83.84%)
» More
Q4 2013

CRR Guru Trades in Q4 2013

Mariko Gordon 5,000 sh (unchged)
Tom Gayner Sold Out
Richard Snow Sold Out
Ron Baron 680,711 sh (-0.11%)
Manning & Napier Advisors, Inc 83,060 sh (-2.72%)
Murray Stahl 2,738 sh (-23.88%)
Chuck Royce 399,495 sh (-41.15%)
Joel Greenblatt 4,839 sh (-49.81%)
» More
» Details

Insider Trades

Latest Guru Trades with CRR

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Tom Gayner 2013-12-31 Sold Out 0.8%$97.68 - $126 $ 139.5322%0
Joel Greenblatt 2013-12-31 Reduce -49.81%0.02%$97.68 - $126 $ 139.5322%4839
Joel Greenblatt 2013-09-30 Reduce -83.84%0.14%$66.9 - $104.95 $ 139.5364%9641
Ron Baron 2013-09-30 Reduce -31.73%0.11%$66.9 - $104.95 $ 139.5364%681458
Joel Greenblatt 2013-06-30 Add 326.61%0.13%$65.64 - $92.74 $ 139.5388%59665
Joel Greenblatt 2013-03-31 Reduce -41.87%0.05%$75.03 - $97.53 $ 139.5361%13986
Ron Baron 2012-12-31 Reduce -23.37%0.15%$61 - $81.67 $ 139.5391%1233013
Ron Baron 2012-09-30 Reduce -25.93%0.29%$62.89 - $86.26 $ 139.5395%1609082
Tom Gayner 2012-09-30 Add 124.64%0.23%$62.89 - $86.26 $ 139.5395%155000
Joel Greenblatt 2012-09-30 Add 474.96%0.09%$62.89 - $86.26 $ 139.5395%26822
John Burbank 2012-09-30 Sold Out 0.04%$62.89 - $86.26 $ 139.5395%0
Lee Ainslie 2012-06-30 Sold Out 0.46%$72.86 - $104.07 $ 139.5366%0
Tom Gayner 2012-06-30 Add 56.82%0.09%$72.86 - $104.07 $ 139.5366%69000
John Burbank 2012-06-30 Reduce -42.41%0.04%$72.86 - $104.07 $ 139.5366%14800
Joel Greenblatt 2012-06-30 New Buy0.03%$72.86 - $104.07 $ 139.5366%4665
Lee Ainslie 2012-03-31 New Buy0.46%$85.94 - $133.99 $ 139.5344%305223
Tom Gayner 2012-03-31 New Buy0.21%$85.94 - $133.99 $ 139.5344%44000
Ron Baron 2011-12-31 Add 12.62%0.2%$94.18 - $155.94 $ 139.537%2300230
Ron Baron 2011-09-30 Add 13.61%0.17%$106.6 - $180.25 $ 139.53-8%2042537
John Keeley 2011-06-30 Sold Out $127.54 - $162.52 $ 139.53-4%0
John Keeley 2011-03-31 Reduce -27.64%$98.8 - $139.77 $ 139.5320%1990
Premium More recent guru trades are included for Premium Members only!!
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Guru Investment Theses on Carbo Ceramics, Inc.

Baron Funds Comments on CARBO Ceramics Inc. - Dec 10, 2013

CARBO Ceramics, Inc. (CRR) is the largest provider of ceramic proppants to the global oil & gas industry. Ceramic proppants are a key material in the hydraulic fracturing process. CARBO's shares appear to have bottomed in July as its forward guidance following second quarter earnings indicated an upturn in volume trends and stabilization in pricing. The September launch of a key new product has positioned CARBO to regain its long-term competitive position and earnings power.

From Ron Baron's Baron Funds third quarter 2013 commentary.


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Baron Funds Comments on CARBO Ceramics Inc. - Aug 09, 2013

CARBO Ceramics, Inc. (CRR) is the largest provider of ceramic proppants to the global oil and gas industry. Ceramic proppants are a key material in the hydraulic fracturing process, however, demand and pricing for these proppants has been hurt by a combination of reduced natural gas drilling and increased foreign competition. Competitive pressures appear to be easing and CARBO's volumes and cost pressures appear to be stabilizing, so we think volumes and margins should improve in the second half of the year. Nevertheless, reduced earnings expectations hurt the shares in the second quarter. (Jamie Stone)

From Baron Funds second quarter 2013 commentary.


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Baron Funds Comments on CARBO Ceramics - Feb 20, 2013

CARBO Ceramics, Inc. (CRR) is the leading supplier of advanced material proppants for the oil and gas industry. After underperforming for much of the year, its shares rebounded strongly in the fourth quarter when it appeared that the problems of oversupplied markets and logistical challenges that were hurting pricing, costs, and volumes were abating. As a result, earnings estimates have stabilized and begun to improve for 2013. Investors are now beginning to look at the next phase of growth for the company in late 2013 and 2014, as it brings on new capacity. (Jamie Stone)

From Baron Funds' fourth quarter commentary.


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Baron Funds' Comments on CARBO Ceramics - Aug 23, 2012

From Baron Funds' second quarter commentary:

CARBO Ceramics, Inc. (CRR) is the leading supplier of ceramic proppant to the shale oil and gas industry. CARBO Ceramic's share price fell significantly during the period as a result of a decline in gas drilling in the United States caused by unusually low gas prices. The decline in gas drilling caused CARBO to incur unusual transportation costs to reposition its proppant inventory. Less drilling coupled with this business' increased proppant production capacity and increased competition from ceramic and sand proppant produced in China have negatively impacted the company's current earnings.We reduced our holdings in CARBO but not by enough to significantly mitigate the impact of short term negative fundamentals.We continue to believe that the company's proppant has superior characteristics to its competition which should help this business recover over the long term as shale oil and gas drilling increases. (Jamie Stone)
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Baron Funds Comments on CARBO Ceramics - May 24, 2012

From Baron Funds first quarter letter: CARBO Ceramics, Inc. (CRR) is the leading supplier of ceramic proppant used in hydraulic fracturing. CARBO's share price was volatile in the quarter and has suffered since the company announced lower fourth-quarter earnings. The company warned that a rapid rotation from gas to oil drilling in the U.S. was leading to significant logistics and cost challenges. The shares partially recovered as it became clear that its challenges are related to logistics rather than end-market demand or competition. However, it will be several quarters before these concerns dissipate, at which time we believe CARBO shares will begin to perform well once again. (Jamie Stone)
Check out Ron Baron latest stock trades

Top Ranked Articles about Carbo Ceramics, Inc.

Baron Funds Comments on CARBO Ceramics Inc.
CARBO Ceramics, Inc. (CRR) is the largest provider of ceramic proppants to the global oil & gas industry. Ceramic proppants are a key material in the hydraulic fracturing process. CARBO's shares appear to have bottomed in July as its forward guidance following second quarter earnings indicated an upturn in volume trends and stabilization in pricing. The September launch of a key new product has positioned CARBO to regain its long-term competitive position and earnings power. Read more...
Baron Funds Comments on CARBO Ceramics Inc.
CARBO Ceramics, Inc. (CRR) is the largest provider of ceramic proppants to the global oil and gas industry. Ceramic proppants are a key material in the hydraulic fracturing process, however, demand and pricing for these proppants has been hurt by a combination of reduced natural gas drilling and increased foreign competition. Competitive pressures appear to be easing and CARBO's volumes and cost pressures appear to be stabilizing, so we think volumes and margins should improve in the second half of the year. Nevertheless, reduced earnings expectations hurt the shares in the second quarter. (Jamie Stone) Read more...

Ratios

vs
industry
vs
history
P/E(ttm) 37.80
CRR's P/E(ttm) is ranked lower than
51% of the 341 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 17.50 vs. CRR: 37.80 )
CRR' s 10-Year P/E(ttm) Range
Min: 5.88   Max: 41.42
Current: 37.8

5.88
41.42
P/B 4.20
CRR's P/B is ranked lower than
62% of the 433 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 1.60 vs. CRR: 4.20 )
CRR' s 10-Year P/B Range
Min: 1.5   Max: 7.19
Current: 4.2

1.5
7.19
P/S 4.80
CRR's P/S is ranked lower than
77% of the 457 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 1.37 vs. CRR: 4.80 )
CRR' s 10-Year P/S Range
Min: 1.65   Max: 7.69
Current: 4.8

1.65
7.69
PFCF 85.40
CRR's PFCF is ranked lower than
64% of the 228 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 18.54 vs. CRR: 85.40 )
CRR' s 10-Year PFCF Range
Min: 13.95   Max: 1634
Current: 85.4

13.95
1634
EV-to-EBIT 25.00
CRR's EV-to-EBIT is ranked lower than
54% of the 395 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 15.20 vs. CRR: 25.00 )
CRR' s 10-Year EV-to-EBIT Range
Min: 5.7   Max: 26.7
Current: 25

5.7
26.7
PEG 2.60
CRR's PEG is ranked higher than
54% of the 206 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 1.70 vs. CRR: 2.60 )
CRR' s 10-Year PEG Range
Min: 0.44   Max: 4.3
Current: 2.6

0.44
4.3
Shiller P/E 33.20
CRR's Shiller P/E is ranked lower than
51% of the 233 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 20.01 vs. CRR: 33.20 )
CRR' s 10-Year Shiller P/E Range
Min: 10.97   Max: 55.9
Current: 33.2

10.97
55.9

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 0.84
CRR's Dividend Yield is ranked lower than
83% of the 285 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 2.26 vs. CRR: 0.84 )
CRR' s 10-Year Dividend Yield Range
Min: 0.44   Max: 2.37
Current: 0.84

0.44
2.37
Dividend Payout 0.31
CRR's Dividend Payout is ranked higher than
72% of the 237 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 0.34 vs. CRR: 0.31 )
CRR' s 10-Year Dividend Payout Range
Min: 0.14   Max: 0.42
Current: 0.31

0.14
0.42
Dividend growth (3y) 14.50
CRR's Dividend growth (3y) is ranked higher than
84% of the 146 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 11.20 vs. CRR: 14.50 )
CRR' s 10-Year Dividend growth (3y) Range
Min: 0   Max: 29.1
Current: 14.5

0
29.1
Yield on cost (5-Year) 1.29
CRR's Yield on cost (5-Year) is ranked lower than
73% of the 295 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 2.77 vs. CRR: 1.29 )
CRR' s 10-Year Yield on cost (5-Year) Range
Min: 0.71   Max: 3.83
Current: 1.29

0.71
3.83

Valuation & Return

vs
industry
vs
history
Price/Net Current Asset Value 22.20
CRR's Price/Net Current Asset Value is ranked lower than
64% of the 70 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 9.10 vs. CRR: 22.20 )
CRR' s 10-Year Price/Net Current Asset Value Range
Min: 6.58   Max: 729.15
Current: 22.2

6.58
729.15
Price/Tangible Book 4.40
CRR's Price/Tangible Book is ranked lower than
54% of the 425 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 2.00 vs. CRR: 4.40 )
CRR' s 10-Year Price/Tangible Book Range
Min: 2   Max: 6.58
Current: 4.4

2
6.58
Price/DCF (Projected) 3.10
CRR's Price/DCF (Projected) is ranked lower than
58% of the 232 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 1.60 vs. CRR: 3.10 )
CRR' s 10-Year Price/DCF (Projected) Range
Min: 1.6   Max: 6.21
Current: 3.1

1.6
6.21
Price/Median PS Value 1.20
CRR's Price/Median PS Value is ranked higher than
64% of the 419 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 0.90 vs. CRR: 1.20 )
CRR' s 10-Year Price/Median PS Value Range
Min: 0.52   Max: 1.48
Current: 1.2

0.52
1.48
Price/Peter Lynch Fair Value 2.40
CRR's Price/Peter Lynch Fair Value is ranked higher than
59% of the 103 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 1.10 vs. CRR: 2.40 )
CRR' s 10-Year Price/Peter Lynch Fair Value Range
Min: 0.68   Max: 4.13
Current: 2.4

0.68
4.13
Price/Graham Number 2.70
CRR's Price/Graham Number is ranked lower than
55% of the 335 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 1.30 vs. CRR: 2.70 )
CRR' s 10-Year Price/Graham Number Range
Min: 1.13   Max: 2.93
Current: 2.7

1.13
2.93
Earnings Yield (Greenblatt) 4.00
CRR's Earnings Yield (Greenblatt) is ranked higher than
56% of the 402 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 6.40 vs. CRR: 4.00 )
CRR' s 10-Year Earnings Yield (Greenblatt) Range
Min: 3.8   Max: 17.5
Current: 4

3.8
17.5
Forward Rate of Return (Yacktman) 16.25
CRR's Forward Rate of Return (Yacktman) is ranked higher than
90% of the 337 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 2.32 vs. CRR: 16.25 )
CRR' s 10-Year Forward Rate of Return (Yacktman) Range
Min: 7.5   Max: 27.2
Current: 16.25

7.5
27.2

Business Description

Industry: Oil & Gas - Services » Oil & Gas Equipment & Services
Compare:SPN, GLF, NOV, HAL, SAPMY » details
Traded in other countries:CR8.Germany
CARBO Ceramics Inc., a Delaware corporation was incorporated in 1987. The Company is a supplier of ceramic proppant and provides fracture simulation software, fracture design, engineering and consulting services and a broad range of technologies for spill prevention, containment and countermeasures. The Company sells the majority of its products and services to operators of oil and natural gas wells and to oilfield service companies to help increase the production rates and the amount of oil and natural gas ultimately recoverable from these wells. Its products and services are primarily used in the hydraulic fracturing of natural gas and oil wells. The Company primarily manufactures five distinct ceramic proppants . CARBOHSP(r) and CARBOPROP(r) are high strength proppants designed mainly for use in deep gas wells. CARBOHSP(r) has the highest strength of any of the ceramic proppants manufactured by the Company and is used mainly in the fracturing of deep gas wells. CARBOPROP(r) is slightly lower in weight and strength than CARBOHSP(r) and was developed for use in deep gas wells that do not require the strength of CARBOHSP(r). CARBOLITE(r) and CARBOECONOPROP(r) are lightweight ceramic proppants designed for use in natural gas wells of moderate depth and oil wells. CARBOLITE(r) is used in medium depth oil and gas wells, where the additional strength of ceramic proppant might not be essential, but where higher production rates could be achieved due to the product's uniform size and spherical shape. CARBOLITE(r) is most commonly used in oil wells. CARBOECONOPROP(r), introduced in 1992 to compete directly with sand-based proppant, and CARBOHYDROPROPtm, introduced in late 2007 to improve performance in 'slickwater' fracture treatments, is the Company's lowest priced products. It competes with Saint-Gobain Proppants. Ceramic proppant is made from alumina-bearing ores commonly referred to as clay, bauxite, bauxitic clay or kaolin, depending on the alumina content that are readily available on the world market. The Company owns multiple patents in the United States and various foreign countries that relate to different types of ceramic proppant and production methods used for ceramic proppant and media. The Company's operations are in substantial compliance with applicable domestic and foreign federal, state and local environmental and safety laws and regulations.

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