CIK 225648

COVANTA HOLDING CORP

CIK 0000225648 · EDGAR ↗

cleanelevatedtriggeredno dataplanned

57.9

composite · 4 signals · TRIGGERED

Every card below shows the score and the exact filing data it was computed from — no unexplained numbers. Some signals (P-02, P-03, P-08, P-09, P-10, P-11) pull live documents from SEC EDGAR the first time you view this company; a few of those (P-03, P-10, P-11) use AI to read the filing text, but every AI claim must quote the actual document verbatim or it's discarded — never a guess.

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Signals

P-13 · FY 2020-12-31 · TRIGGERED72.0

Zombie / distress

Zombie: interest coverage below 1.0x for 4 consecutive years

trend: flat

Trend

Source: 10-K on SEC.gov (filed 2021-02-19) ↗

Evidence — inputs and thresholds

{
  "icr_by_year": {
    "2020-12-31": 0.519,
    "2019-12-31": 0.629,
    "2018-12-31": 0.434,
    "2017-12-31": 0.687
  },
  "consecutive_years_below_1": 4,
  "altman_z_double_prime": -0.199,
  "definitions": {
    "zombie": "ICR<1 for 3+ consecutive FYs (BIS 2018)",
    "z_distress": "<1.1 distress, 1.1-2.6 gray, >2.6 safe"
  },
  "inputs": {
    "ebit_t": 69000000,
    "interest_expense_t": 133000000
  },
  "stale": false,
  "latest_filing_period": "2020-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/225648/000022564821000008/0000225648-21-000008-index.htm",
    "form": "10-K",
    "filed": "2021-02-19"
  }
}

P-05 · FY 2018-12-31 · ELEVATED100.0

Tax arbitrage

[FY2018 data, stale — no more recent pretax-income figure in XBRL] ETR -24.8% vs 21% statutory — gap persistent across 1 of 1 years

trend: flat

Trend

Source: 10-K on SEC.gov (filed 2021-02-19) ↗

Evidence — inputs and thresholds

{
  "etr_by_year": {
    "2018-12-31": -0.2479
  },
  "statutory_rate": 0.21,
  "gap_by_year": {
    "2018-12-31": 0.4579
  },
  "note": "Low ETR can be fully legitimate; this flags persistence + magnitude for review.",
  "stale": true,
  "latest_filing_period": "2020-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/225648/000022564821000008/0000225648-21-000008-index.htm",
    "form": "10-K",
    "filed": "2021-02-19"
  }
}

P-01 · FY 2020-12-31 · CLEAN31.6

Earnings quality

Beneish M-Score -2.40 — no manipulation profile

trend: flat

Trend

Source: 10-K on SEC.gov (filed 2021-02-19) ↗

Evidence — inputs and thresholds

{
  "m_score": -2.396,
  "threshold": -1.78,
  "ratios": {
    "DSRI": 1.064,
    "GMI": 1.05,
    "AQI": 0.977,
    "SGI": 1.018,
    "DEPI": 0.977,
    "SGAI": 0.966,
    "LVGI": 1.033,
    "TATA": 0
  },
  "defaulted_to_neutral": [
    "TATA"
  ],
  "sloan_accruals": null,
  "inputs": {
    "revenue_t": 1904000000,
    "revenue_t1": 1870000000,
    "total_assets_t": 3706000000,
    "net_income_t": null,
    "cfo_t": 254000000
  },
  "stale": false,
  "latest_filing_period": "2020-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/225648/000022564821000008/0000225648-21-000008-index.htm",
    "form": "10-K",
    "filed": "2021-02-19"
  }
}

P-12 · FY 2020-12-31 · CLEAN6.6

Restatement predictor

F-Score 0.20 — at or below the population base rate

trend: flat

Trend

Source: 10-K on SEC.gov (filed 2021-02-19) ↗

Evidence — inputs and thresholds

{
  "f_score": 0.197,
  "probability": 0.00073,
  "components": {
    "rsst": null,
    "drec": 0.0054,
    "dinv": null,
    "soft": 0.3319,
    "dcs": 0.0075,
    "droa": null,
    "issue": 0
  },
  "model": "Dechow et al. 2011, Model 1 (simplified RSST)",
  "thresholds": {
    "elevated": 1,
    "triggered": 1.85
  },
  "stale": false,
  "latest_filing_period": "2020-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/225648/000022564821000008/0000225648-21-000008-index.htm",
    "form": "10-K",
    "filed": "2021-02-19"
  }
}