Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
24.6 NOK | 0.00% | +14.42% | +33.84% |
01:14pm | Belships Closes Sale of 50% Stake in Lighthouse Navigation | MT |
04-22 | Belships Expands Fleet with Lease of Two New Bulk Carriers | MT |
Valuation
Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
---|---|---|---|---|---|---|---|---|
Capitalization 1 | 174.1 | 168.2 | 404.7 | 368.4 | 457 | 563 | - | - |
Enterprise Value (EV) 1 | 345 | 415.6 | 736.8 | 833.8 | 892.2 | 941.4 | 879.6 | 830.5 |
P/E ratio | 27.4 x | -9.23 x | 3.02 x | 2.14 x | 5.32 x | 8.37 x | 6.15 x | 5.46 x |
Yield | - | - | 12.9% | 29.9% | 12.5% | 7.21% | 10.3% | 12.1% |
Capitalization / Revenue | 1.65 x | 1.02 x | 0.62 x | 0.48 x | 1.05 x | 1.18 x | 1.06 x | 0.99 x |
EV / Revenue | 3.28 x | 2.51 x | 1.13 x | 1.09 x | 2.05 x | 1.98 x | 1.65 x | 1.46 x |
EV / EBITDA | 10.3 x | 22.7 x | 4.49 x | 3.76 x | 5.66 x | 5.98 x | 4.88 x | 4.31 x |
EV / FCF | -10.2 x | -114 x | 12.5 x | 10.1 x | 7.49 x | 8.48 x | 6.71 x | 6.32 x |
FCF Yield | -9.81% | -0.88% | 8.01% | 9.89% | 13.3% | 11.8% | 14.9% | 15.8% |
Price to Book | 1.11 x | 1.12 x | 1.48 x | 1.25 x | 1.49 x | 1.89 x | 1.7 x | 1.56 x |
Nbr of stocks (in thousands) | 211,677 | 227,627 | 252,752 | 252,765 | 252,765 | 252,765 | - | - |
Reference price 2 | 0.8224 | 0.7387 | 1.601 | 1.457 | 1.808 | 2.227 | 2.227 | 2.227 |
Announcement Date | 20-02-21 | 21-02-23 | 22-02-21 | 23-02-22 | 24-02-19 | - | - | - |
Income Statement Evolution (Annual data)
Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
---|---|---|---|---|---|---|---|---|
Net sales 1 | 105.2 | 165.4 | 650.7 | 761.8 | 434.2 | 476.3 | 531.7 | 568.5 |
EBITDA 1 | 33.58 | 18.3 | 164 | 222 | 157.6 | 157.5 | 180.1 | 192.6 |
EBIT 1 | 11.63 | -4.623 | 135.2 | 182.9 | 111.9 | 109.5 | 131.5 | 141.8 |
Operating Margin | 11.06% | -2.79% | 20.78% | 24.01% | 25.77% | 23% | 24.73% | 24.95% |
Earnings before Tax (EBT) 1 | 6.755 | -17.16 | 142.1 | 177.1 | 85 | 82.98 | 106 | 117.9 |
Net income 1 | 3.487 | -19.9 | 104 | 146.9 | 75.9 | 68.75 | 91.5 | 103.3 |
Net margin | 3.31% | -12.03% | 15.98% | 19.28% | 17.48% | 14.44% | 17.21% | 18.16% |
EPS 2 | 0.0300 | -0.0800 | 0.5300 | 0.6800 | 0.3400 | 0.2661 | 0.3623 | 0.4077 |
Free Cash Flow 1 | -33.84 | -3.644 | 58.99 | 82.46 | 119 | 111 | 131 | 131.3 |
FCF margin | -32.16% | -2.2% | 9.07% | 10.82% | 27.42% | 23.31% | 24.64% | 23.1% |
FCF Conversion (EBITDA) | - | - | 35.98% | 37.15% | 75.53% | 70.48% | 72.74% | 68.19% |
FCF Conversion (Net income) | - | - | 56.73% | 56.14% | 156.86% | 161.46% | 143.17% | 127.19% |
Dividend per Share 2 | - | - | 0.2060 | 0.4359 | 0.2266 | 0.1606 | 0.2295 | 0.2693 |
Announcement Date | 20-02-21 | 21-02-23 | 22-02-21 | 23-02-22 | 24-02-19 | - | - | - |
Income Statement Evolution (Quarterly data)
Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net sales 1 | 205.3 | 228.6 | 241.9 | 200.5 | 158.1 | 161.3 | 116.4 | 116.6 | 90.86 | 111.7 | 106 | 114.6 | 126.5 | 144.9 | 108 |
EBITDA 1 | 57.1 | 62.2 | 60.5 | 48.95 | 56.42 | 56.09 | 43.67 | 40.73 | 32.98 | 40.81 | 33.84 | 37.46 | 44.07 | 46.84 | 28 |
EBIT 1 | 50.36 | 54.1 | 52.27 | 40.92 | 53.87 | 45.2 | 32.39 | 28.05 | 22.34 | 28.31 | 21.67 | 25.29 | 32.24 | 34.51 | 18 |
Operating Margin | 24.53% | 23.66% | 21.61% | 20.41% | 34.07% | 28.03% | 27.83% | 24.06% | 24.59% | 25.35% | 20.46% | 22.08% | 25.49% | 23.82% | 16.67% |
Earnings before Tax (EBT) 1 | 44.84 | 74.09 | 60.73 | 32.26 | 50.06 | 34.1 | 27.86 | 17.59 | 15.33 | 24.61 | 15.41 | 19.03 | 25.64 | 28.57 | 13 |
Net income 1 | 10.2 | 48.48 | 46.74 | 27.02 | 46.67 | 26.46 | 23.19 | 24.27 | 15.05 | 18.16 | 11.9 | 14.38 | 20.85 | 22.94 | 7 |
Net margin | 4.97% | 21.21% | 19.32% | 13.47% | 29.52% | 16.41% | 19.93% | 20.82% | 16.56% | 16.26% | 11.24% | 12.56% | 16.48% | 15.83% | 6.48% |
EPS 2 | 0.1400 | 0.2300 | 0.2300 | 0.1200 | 0.1900 | 0.1300 | 0.1100 | 0.1000 | 0.0600 | 0.0900 | 0.0474 | 0.0573 | 0.0824 | 0.0893 | - |
Dividend per Share 2 | 0.0635 | 0.1002 | 0.2286 | 0.0772 | 0.0740 | 0.0726 | 0.0662 | 0.0564 | 0.0404 | 0.0571 | 0.0165 | 0.0521 | 0.0613 | 0.0742 | 0.0100 |
Announcement Date | 21-11-12 | 22-02-21 | 22-05-12 | 22-08-17 | 22-11-10 | 23-02-22 | 23-05-09 | 23-08-21 | 23-11-09 | 24-02-19 | - | - | - | - | - |
Balance Sheet Analysis
Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
---|---|---|---|---|---|---|---|---|
Net Debt 1 | 171 | 247 | 332 | 465 | 435 | 378 | 317 | 267 |
Net Cash position 1 | - | - | - | - | - | - | - | - |
Leverage (Debt/EBITDA) | 5.09 x | 13.52 x | 2.026 x | 2.097 x | 2.761 x | 2.403 x | 1.758 x | 1.389 x |
Free Cash Flow 1 | -33.8 | -3.64 | 59 | 82.5 | 119 | 111 | 131 | 131 |
ROE (net income / shareholders' equity) | -1.04% | -12.1% | 54% | 58.9% | 25.2% | 23.6% | 27.9% | 27.7% |
ROA (Net income/ Total Assets) | - | - | - | - | 6.88% | 5.86% | 6.97% | 6.81% |
Assets 1 | - | - | - | - | 1,103 | 1,174 | 1,314 | 1,517 |
Book Value Per Share 2 | 0.7400 | 0.6600 | 1.080 | 1.170 | 1.210 | 1.180 | 1.310 | 1.430 |
Cash Flow per Share | 0.1000 | 0.0600 | 0.7600 | 0.6700 | 0.4800 | - | - | - |
Capex 1 | 54 | 15.3 | 90.5 | 89.1 | 1.85 | 4.5 | 4.5 | 5 |
Capex / Sales | 51.32% | 9.22% | 13.9% | 11.7% | 0.43% | 0.94% | 0.85% | 0.88% |
Announcement Date | 20-02-21 | 21-02-23 | 22-02-21 | 23-02-22 | 24-02-19 | - | - | - |
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
EPS Revisions
1st Jan change | Capi. | |
---|---|---|
+33.84% | 563M | |
+30.31% | 12.25B | |
+24.04% | 4.13B | |
+36.60% | 4B | |
+15.43% | 2.8B | |
-15.05% | 1.89B | |
+18.10% | 1.88B | |
+11.00% | 1.85B | |
+0.14% | 1.66B | |
+31.97% | 1.59B |
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