Cleanaway Waste Management Ltd (ASX: CWY) has seen its share price go nowhere over the past 5 years.
In June 2011, shares were trading at ~75 cents.
They are currently sitting at 78.5 cents, suggesting that earnings have struggled to grow over the past five years. And looking at the company's earnings per share history – that's certainly the case.
In 2010, Cleanaway (formerly TransPacific) made 5.6 cents in earnings per share (EPS). In the 2015 financial year (FY15), Cleanaway generated 5.3 cents in EPS.
However, revenues have crashed from being consistently above $2 billion over the 6 years to 2013, to $1.4 billion in FY15.
As we wrote in March this year, the waste management company has a miserable record of poorly performing acquisitions and remains a highly capital intensive company.
With large debts still on the balance sheet, Cleanaway is not investment grade, and there are better opportunities out there for investors.