CCP got smashed by GFC as they, like most, didn't see it coming and had been aggressively expanding through leverage in prior years. Debt/equity was over 200% at end of '07 and interest cover was only about 2x. That worked fine until credit markets seized up and suddenly rolling over debt facilities became impossible or expensive.
CCP's debt/equity is now below 100% and probably more importantly interest cover is >10x. If there's a recession you can still expect the share price to cop a beating because everything will fall, but CCP as a business would be pretty well-placed and probably benefit from increased distressed debt.
CCP got smashed by GFC as they, like most, didn't see it coming...
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Last
$15.74 |
Change
-0.280(1.75%) |
Mkt cap ! $1.071B | |||
| Open | High | Low | Value | Volume |
| $16.03 | $16.08 | $15.65 | $4.663M | 295.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2390 | $15.71 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $15.75 | 1142 | 2 |
View Market Depth
| Last trade - 16.10pm 09/05/2024 (20 minute delay) ? |
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Last
$15.71 |
Change
-0.280 ( 1.92 %) |
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| Open | High | Low | Volume | ||
| $16.01 | $16.08 | $15.65 | 34550 | ||
| Last updated 15.59pm 09/05/2024 ? | |||||
| CCP (ASX) Chart |