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SBM Offshore

WBAG:SBMO
Snowflake Description

Mediocre balance sheet second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SBMO
WBAG
€3B
Market Cap
  1. Home
  2. AT
  3. Energy
Company description

SBM Offshore N.V. provides floating production solutions to the offshore energy industry worldwide. The last earnings update was 66 days ago. More info.


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SBMO Share Price and Events
7 Day Returns
-3.5%
WBAG:SBMO
0.1%
Europe Energy Services
2.1%
AT Market
1 Year Returns
18%
WBAG:SBMO
-11%
Europe Energy Services
-2.7%
AT Market
SBMO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
SBM Offshore (SBMO) -3.5% -4.6% 13.3% 18% - -
Europe Energy Services 0.1% -0.2% 10.7% -11% -32.2% -83.1%
AT Market 2.1% 5.8% 8.1% -2.7% 42.9% 31.5%
1 Year Return vs Industry and Market
  • SBMO outperformed the Energy Services industry which returned -11% over the past year.
  • SBMO outperformed the Market in Austria which returned -2.7% over the past year.
Price Volatility
SBMO
Industry
5yr Volatility vs Market

SBMO Value

 Is SBM Offshore undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of SBM Offshore to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for SBM Offshore.

WBAG:SBMO Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.7%
Perpetual Growth Rate 10-Year AT Government Bond Rate 0.5%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for WBAG:SBMO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AT Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6%
Energy Services Unlevered Beta Simply Wall St/ S&P Global 1.07
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.07 (1 + (1- 25%) (123.91%))
1.713
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.71
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.51% + (1.713 * 5.96%)
10.72%

Discounted Cash Flow Calculation for WBAG:SBMO using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for SBM Offshore is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

WBAG:SBMO DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 10.72%)
2019 214.80 Analyst x1 194.01
2020 617.25 Analyst x2 503.54
2021 743.00 Analyst x1 547.46
2022 679.00 Analyst x1 451.87
2023 633.00 Analyst x1 380.49
2024 632.86 Est @ -0.02% 343.58
2025 633.72 Est @ 0.14% 310.75
2026 635.30 Est @ 0.25% 281.37
2027 637.38 Est @ 0.33% 254.97
2028 639.82 Est @ 0.38% 231.17
Present value of next 10 years cash flows $3,499.20
WBAG:SBMO DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $639.82 × (1 + 0.51%) ÷ (10.72% – 0.51%)
$6,300.62
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $6,300.62 ÷ (1 + 10.72%)10
$2,276.43
WBAG:SBMO Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $3,499.20 + $2,276.43
$5,775.64
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $5,775.64 / 199.33
$28.93
WBAG:SBMO Discount to Share Price
Calculation Result
Exchange Rate USD/EUR
(Reporting currency to currency of ENXTAM:SBMO)
0.889
Value per Share
(EUR)
= Value per Share in USD x Exchange Rate (USD/EUR)
= $28.98 x 0.889
€25.77
Non-primary Listing Adjustment Factor 1 share in WBAG:SBMO represents 1.00153x of ENXTAM:SBMO
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.00153x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 25.77 x 1.00153
€25.80
Value per share (EUR) From above. €25.80
Current discount Discount to share price of €16.36
= -1 x (€16.36 - €25.80) / €25.80
36.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price SBM Offshore is available for.
Intrinsic value
37%
Share price is €16.36 vs Future cash flow value of €25.8
Current Discount Checks
For SBM Offshore to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • SBM Offshore's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • SBM Offshore's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for SBM Offshore's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are SBM Offshore's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WBAG:SBMO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $1.04
ENXTAM:SBMO Share Price ** ENXTAM (2019-04-18) in EUR €16.33
ENXTAM:SBMO Share Price converted to USD reporting currency Exchange rate (EUR/ USD) 1.125 $18.36
Europe Energy Services Industry PE Ratio Median Figure of 27 Publicly-Listed Energy Services Companies 21.41x
Austria Market PE Ratio Median Figure of 52 Publicly-Listed Companies 14.56x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of SBM Offshore.

WBAG:SBMO PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTAM:SBMO Share Price ÷ EPS (both in USD)

= 18.36 ÷ 1.04

17.7x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • SBM Offshore is good value based on earnings compared to the Europe Energy Services industry average.
  • SBM Offshore is overvalued based on earnings compared to the Austria market.
Price based on expected Growth
Does SBM Offshore's expected growth come at a high price?
Raw Data
WBAG:SBMO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.7x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
-7.2%per year
Europe Energy Services Industry PEG Ratio Median Figure of 20 Publicly-Listed Energy Services Companies 1.04x
Austria Market PEG Ratio Median Figure of 32 Publicly-Listed Companies 1.24x

*Line of best fit is calculated by linear regression .

WBAG:SBMO PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 17.7x ÷ -7.2%

-2.45x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • SBM Offshore earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on SBM Offshore's assets?
Raw Data
WBAG:SBMO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $12.87
ENXTAM:SBMO Share Price * ENXTAM (2019-04-18) in EUR €16.33
ENXTAM:SBMO Share Price converted to USD reporting currency Exchange rate (EUR/ USD) 1.125 $18.36
Europe Energy Services Industry PB Ratio Median Figure of 63 Publicly-Listed Energy Services Companies 0.99x
Austria Market PB Ratio Median Figure of 60 Publicly-Listed Companies 1.24x
WBAG:SBMO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTAM:SBMO Share Price ÷ Book Value per Share (both in USD)

= 18.36 ÷ 12.87

1.43x

* Primary Listing of SBM Offshore.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • SBM Offshore is overvalued based on assets compared to the Europe Energy Services industry average.
X
Value checks
We assess SBM Offshore's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Energy Services industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Energy Services industry average (and greater than 0)? (1 check)
  5. SBM Offshore has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

SBMO Future Performance

 How is SBM Offshore expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-7.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is SBM Offshore expected to grow at an attractive rate?
  • SBM Offshore's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.5%.
Growth vs Market Checks
  • SBM Offshore's earnings are expected to decrease over the next 1-3 years, this is below the Austria market average.
  • SBM Offshore's revenue growth is positive but not above the Austria market average.
Annual Growth Rates Comparison
Raw Data
WBAG:SBMO Future Growth Rates Data Sources
Data Point Source Value (per year)
WBAG:SBMO Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts -7.2%
WBAG:SBMO Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 1.4%
Europe Energy Services Industry Earnings Growth Rate Market Cap Weighted Average 27.5%
Europe Energy Services Industry Revenue Growth Rate Market Cap Weighted Average 7.6%
Austria Market Earnings Growth Rate Market Cap Weighted Average 9.1%
Austria Market Revenue Growth Rate Market Cap Weighted Average 2.6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
WBAG:SBMO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WBAG:SBMO Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31 2,285 1
2021-12-31 2,487 216 3
2020-12-31 2,016 651 171 7
2019-12-31 1,902 565 142 7
WBAG:SBMO Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 2,240 1,647 212
2018-09-30 2,131 1,752 56
2018-06-30 2,022 1,856 -100
2018-03-31 1,942 1,406 -128
2017-12-31 1,861 955 -155
2017-09-30 1,965 837 1
2017-06-30 2,068 718 157
2017-03-31 2,170 603 170
2016-12-31 2,272 488 182
2016-09-30 2,293 255 111
2016-06-30 2,314 22 40
2016-03-31 2,510 -258 35

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • SBM Offshore's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • SBM Offshore's revenue is expected to grow by 1.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
WBAG:SBMO Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from SBM Offshore Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:SBMO Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 3.52 3.52 3.52 1.00
2022-12-31 2.36 3.27 1.45 2.00
2021-12-31 2.05 3.04 1.14 4.00
2020-12-31 1.07 2.34 0.70 8.00
2019-12-31 0.72 0.89 0.53 6.00
WBAG:SBMO Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 1.04
2018-09-30 0.27
2018-06-30 -0.49
2018-03-31 -0.63
2017-12-31 -0.76
2017-09-30 0.00
2017-06-30 0.76
2017-03-31 0.81
2016-12-31 0.86
2016-09-30 0.53
2016-06-30 0.19
2016-03-31 0.16

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • SBM Offshore is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess SBM Offshore's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
SBM Offshore has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

SBMO Past Performance

  How has SBM Offshore performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare SBM Offshore's growth in the last year to its industry (Energy Services).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • SBM Offshore's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • SBM Offshore has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • SBM Offshore has become profitable in the last year making it difficult to compare the Europe Energy Services industry average.
Earnings and Revenue History
SBM Offshore's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from SBM Offshore Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:SBMO Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 2,240.00 212.00 161.00 23.00
2018-09-30 2,131.00 56.00 162.50 26.50
2018-06-30 2,022.00 -100.00 163.00 30.00
2018-03-31 1,941.50 -127.50 165.50 31.50
2017-12-31 1,861.00 -155.00 169.00 33.00
2017-09-30 1,964.50 1.00 168.50 31.00
2017-06-30 2,068.00 157.00 168.00 29.00
2017-03-31 2,170.00 169.50 173.50 29.00
2016-12-31 2,272.00 182.00 179.00 29.00
2016-09-30 2,293.00 111.00 196.50 35.00
2016-06-30 2,314.00 40.00 214.00 41.00
2016-03-31 2,509.50 34.50 235.50 42.00
2015-12-31 2,705.00 29.00 257.00 43.00
2015-09-30 3,423.50 286.00 262.50 41.00
2015-06-30 4,142.00 543.00 268.00 39.00
2015-03-31 4,812.00 559.00 266.00 39.50
2014-12-31 5,482.00 575.00 264.00 40.00
2014-09-30 5,349.50 407.50 248.00 36.00
2014-06-30 5,217.00 240.00 232.00 32.00
2014-03-31 4,900.50 177.00 213.00 27.50
2013-12-31 4,584.00 114.00 194.00 23.00
2013-09-30 4,457.50 -57.00 189.50 22.50
2013-06-30 4,166.00 -224.00 184.00 22.00
2013-03-31 3,902.50 -151.50 181.50 23.50
2012-12-31 3,639.00 -79.00 179.00 25.00
2012-09-30 3,486.10 -64.66 161.28 27.77
2012-06-30 3,333.21 -50.33 143.57 30.54

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • SBM Offshore has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • SBM Offshore used its assets less efficiently than the Europe Energy Services industry average last year based on Return on Assets.
  • SBM Offshore has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess SBM Offshore's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Energy Services industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
SBM Offshore has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

SBMO Health

 How is SBM Offshore's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up SBM Offshore's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • SBM Offshore is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • SBM Offshore's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of SBM Offshore's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from SBM Offshore Company Filings, last reported 3 months ago.

WBAG:SBMO Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 3,612.00 4,536.00 718.00
2018-09-30 3,612.00 4,536.00 718.00
2018-06-30 3,591.00 4,791.00 910.00
2018-03-31 3,591.00 4,791.00 910.00
2017-12-31 3,559.00 5,570.00 957.00
2017-09-30 3,559.00 5,570.00 957.00
2017-06-30 3,667.00 5,848.00 824.00
2017-03-31 3,667.00 5,848.00 824.00
2016-12-31 3,512.00 6,121.00 904.00
2016-09-30 3,512.00 6,121.00 904.00
2016-06-30 3,372.00 6,267.00 1,039.00
2016-03-31 3,372.00 6,267.00 1,039.00
2015-12-31 3,466.00 5,722.00 515.00
2015-09-30 3,466.00 5,722.00 515.00
2015-06-30 3,363.00 5,721.00 389.00
2015-03-31 3,363.00 5,721.00 389.00
2014-12-31 3,149.00 5,250.00 475.00
2014-09-30 3,149.00 5,250.00 475.00
2014-06-30 2,917.00 4,587.00 154.00
2014-03-31 2,917.00 4,587.00 154.00
2013-12-31 2,887.00 3,744.00 208.00
2013-09-30 2,135.00 3,003.00 200.00
2013-06-30 1,865.00 2,553.00 253.00
2013-03-31 1,865.00 2,553.00 253.00
2012-12-31 1,530.00 2,753.00 715.00
2012-09-30 1,530.00 2,753.00 715.00
2012-06-30 1,487.76 2,182.77 218.38
  • SBM Offshore's level of debt (125.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (130% vs 125.6% today).
  • Debt is well covered by operating cash flow (36.3%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.6x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess SBM Offshore's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. SBM Offshore has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

SBMO Dividends

 What is SBM Offshore's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.03%
Current annual income from SBM Offshore dividends. Estimated to be 2.12% next year.
If you bought €2,000 of SBM Offshore shares you are expected to receive €41 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • SBM Offshore's pays a higher dividend yield than the bottom 25% of dividend payers in Austria (1.47%).
  • SBM Offshore's dividend is below the markets top 25% of dividend payers in Austria (4.59%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
WBAG:SBMO Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
Europe Energy Services Industry Average Dividend Yield Market Cap Weighted Average of 17 Stocks 3.3%
Austria Market Average Dividend Yield Market Cap Weighted Average of 50 Stocks 3.3%
Austria Minimum Threshold Dividend Yield 10th Percentile 1.1%
Austria Bottom 25% Dividend Yield 25th Percentile 1.5%
Austria Top 25% Dividend Yield 75th Percentile 4.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

WBAG:SBMO Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.58 1.00
2022-12-31 0.43 2.00
2021-12-31 0.42 5.00
2020-12-31 0.35 10.00
2019-12-31 0.38 5.00
WBAG:SBMO Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-10 0.372 1.970
2018-04-11 0.250 1.518
2017-02-08 0.230 1.379
2016-04-07 0.210 1.535
2012-08-17 0.000 0.000
2012-08-16 0.000 0.000
2012-03-28 0.000 0.000
2012-03-02 0.000 0.000
2011-05-06 0.701 3.360
2010-03-01 0.651 3.289
2010-02-26 0.651 3.654
2009-05-06 0.879 4.597
2009-04-22 0.871 5.571

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of SBM Offshore's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.1x coverage).
X
Income/ dividend checks
We assess SBM Offshore's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can SBM Offshore afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. SBM Offshore has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

SBMO Management

 What is the CEO of SBM Offshore's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Bruno Y. Chabas
COMPENSATION $5,353,000
AGE 54
TENURE AS CEO 7.3 years
CEO Bio

Mr. Bruno Y. R. Chabas has been the Chief Executive Officer of SBM Offshore N.V. since January 1, 2012 and serves as its Chairman of Management Board. Mr. Chabas has been Member of the Management Board at SBM Offshore N.V. since May 1, 2011. He is Director of Gaztransport & Technigaz Société Anonyme since May 2018. He served as the Chief Operating Officer of SBM Offshore N.V. from May 1, 2011 to December 31, 2012. He served as the Chief Operating Officer of Acergy SA (now, Subsea 7 SA) from October 7, 2002 to January 2011. He was responsible for all the day-to-day commercial and operational activity of Acergy SA worldwide. He served as the Chief Operating Officer of Single Buoy Moorings, Inc. From 1992 to 2002, Mr. Chabas held various management positions within preceding companies of Acergy SA including as the Chief Financial Officer of Subsea (Stolt Offshore SA) from June 1999 to October 2002. From 1999 to 2002, he held in the United Kingdom, France and the United States. Prior to 2002, he served as Loan Officer and Investment Adviser for a French bank. He joined Subsea in 1992, where he served as a General Manager of Sogetram and Deputy General Manager of SEAME region. Since 1997, he was In Charge of developing new markets in the Gulf of Mexico at Subsea. He has been an Independent Director of Foraco International SA since August 2007. Mr. Chabas holds an M.A. in Economics from the University of Science at Aix-en-Provence in France and an M.B.A. from Babson College in Massachusetts.

CEO Compensation
  • Bruno Y.'s compensation has increased in line with SBM Offshore recently becoming profitable.
  • Bruno Y.'s remuneration is higher than average for companies of similar size in Austria.
Management Team Tenure

Average tenure and age of the SBM Offshore management team in years:

3.8
Average Tenure
54
Average Age
  • The tenure for the SBM Offshore management team is about average.
Management Team

Bruno Y. Chabas

TITLE
Chairman of Management Board & CEO
COMPENSATION
$5M
AGE
54
TENURE
7.3 yrs

Douglas H. Wood

TITLE
CFO & Member of Management Board
COMPENSATION
$3M
AGE
47
TENURE
2.4 yrs

Philippe Barril

TITLE
COO & Member of Management Board
COMPENSATION
$3M
AGE
54
TENURE
4 yrs

Erik Lagendijk

TITLE
Chief Governance & Compliance Officer and Member of Management Board
COMPENSATION
$3M
AGE
58
TENURE
4 yrs

Bert-Jaap Dijkstra

TITLE
Investor Relations Director

Vincent Kempkes

TITLE
Group Communications Director

Anne Guerin-Moens

TITLE
Group Human Resources Director
TENURE
3 yrs

Bernard van Leggelo

TITLE
Managing Director of China & Singapore
TENURE
3.7 yrs

Oivind Tangen

TITLE
Managing Director of Operations
TENURE
3.7 yrs

Stein Rasmussen

TITLE
Chief Strategy Officer
TENURE
5.3 yrs
Board of Directors Tenure

Average tenure and age of the SBM Offshore board of directors in years:

4
Average Tenure
65.5
Average Age
  • The tenure for the SBM Offshore board of directors is about average.
Board of Directors

Floris G. Deckers

TITLE
Chairman of the Supervisory Board
COMPENSATION
$124K
AGE
68
TENURE
1 yrs

Tom Ehret

TITLE
Vice Chairman of Supervisory Board
COMPENSATION
$90K
AGE
66
TENURE
4 yrs

Francis Gugen

TITLE
Member of Supervisory Board
COMPENSATION
$85K
AGE
69
TENURE
8.8 yrs

Cheryl Richard

TITLE
Member of Supervisory Board
COMPENSATION
$99K
AGE
62
TENURE
4 yrs

Sietze Hepkema

TITLE
Member of Supervisory Board
COMPENSATION
$83K
AGE
65
TENURE
4 yrs

Laurence B. L. Mulliez

TITLE
Member of Supervisory Board
COMPENSATION
$85K
AGE
52
TENURE
4 yrs

Roeland I. Baan

TITLE
Member of Supervisory Board
COMPENSATION
$66K
AGE
61
TENURE
1 yrs

Bernard Bajolet

TITLE
Member of Supervisory Board
COMPENSATION
$60K
AGE
69
TENURE
1 yrs
Who owns this company?
Recent Insider Trading
  • SBM Offshore insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
11. Apr 19 Sell Douglas H. Wood Individual 11. Apr 19 11. Apr 19 -30,495 €17.14 €-522,684
11. Apr 19 Sell Erik Lagendijk Individual 11. Apr 19 11. Apr 19 -40,659 €17.14 €-696,895
11. Apr 19 Sell Philippe Barril Individual 11. Apr 19 11. Apr 19 -28,003 €17.14 €-479,971
11. Apr 19 Sell Bruno Y. Chabas Individual 11. Apr 19 11. Apr 19 -55,353 €17.14 €-948,750
02. Jan 19 Sell Philippe Barril Individual 02. Jan 19 02. Jan 19 -23,600 €12.39 €-292,404
02. Jan 19 Sell Bruno Y. Chabas Individual 02. Jan 19 02. Jan 19 -34,277 €12.39 €-424,692
02. Jan 19 Sell Douglas H. Wood Individual 02. Jan 19 02. Jan 19 -28,419 €12.39 €-352,111
X
Management checks
We assess SBM Offshore's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. SBM Offshore has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

SBMO News

Simply Wall St News

SBMO Company Info

Description

SBM Offshore N.V. provides floating production solutions to the offshore energy industry worldwide. The company operates through two segments, Lease and Operate, and Turnkey. It is involved in the design, supply, installation, operation, lease, and life extension of floating production storage and offloading (FPSO) vessels; and semi-submersibles, tension leg platforms, floating liquidified natural gas, turret mooring systems, brownfield, deep water export systems, swivel stack systems, fluid transfer systems, tanker loading and discharge terminals, and solutions for renewable energy. The company also provides after sales services; swivels and mechanical parts; and emergency interventions and rapid response solutions. As of December 31, 2018, it operated a fleet of 13 FPSOs and 1 semi-submersible unit. The company was formerly known as IHC Caland and changed its name to SBM Offshore N.V. in 2005. SBM Offshore N.V. was founded in 1862 and is headquartered in Amsterdam, the Netherlands.

Details
Name: SBM Offshore N.V.
SBMO
Exchange: WBAG
Founded: 1862
€3,255,029,228
199,328,183
Website: http://www.sbmoffshore.com
Address: SBM Offshore N.V.
Evert van de Beekstraat 1-77,
Schiphol,
Amsterdam,
Noord-Holland, 1118 CL,
Netherlands
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTAM SBMO Ordinary Shares Euronext Amsterdam NL EUR 01. Jan 1992
OTCPK SBFF.F Ordinary Shares Pink Sheets LLC US USD 01. Jan 1992
DB IHCB Ordinary Shares Deutsche Boerse AG DE EUR 01. Jan 1992
LSE 0NIS Ordinary Shares London Stock Exchange GB EUR 01. Jan 1992
SWX SBM Ordinary Shares SIX Swiss Exchange CH CHF 01. Jan 1992
WBAG SBMO Ordinary Shares Wiener Boerse AG AT EUR 01. Jan 1992
BATS-CHIXE SBMOA Ordinary Shares BATS 'Chi-X Europe' GB EUR 01. Jan 1992
OTCPK SBFF.Y ADR Pink Sheets LLC US USD 23. Sep 2008
Number of employees
Current staff
Staff numbers
4,143
SBM Offshore employees.
Industry
Oil and Gas Equipment and Services
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/21 21:39
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/15
Last earnings filing: 2019/02/14
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.