ENXTBR:EURN

Stock Analysis Report

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Executive Summary

Euronav NV, together with its subsidiaries, engages in the shipping and storage of crude oil worldwide.


Snowflake Analysis

Established dividend payer and good value.


Similar Companies

Share Price & News

How has Euronav's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: EURN's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-1.6%

EURN

10.6%

BE Oil and Gas

10.4%

BE Market


1 Year Return

16.1%

EURN

-22.0%

BE Oil and Gas

-12.9%

BE Market

Return vs Industry: EURN exceeded the Belgian Oil and Gas industry which returned -22% over the past year.

Return vs Market: EURN exceeded the Belgian Market which returned -13.2% over the past year.


Shareholder returns

EURNIndustryMarket
7 Day-1.6%10.6%10.4%
30 Day-3.2%11.9%13.7%
90 Day17.7%8.4%4.0%
1 Year19.0%16.1%-17.2%-22.0%-11.8%-12.9%
3 Year40.3%34.3%11.6%-4.5%-21.9%-26.4%
5 Year-18.4%-33.0%24.1%-4.4%-17.3%-26.0%

Price Volatility Vs. Market

How volatile is Euronav's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Euronav undervalued compared to its fair value and its price relative to the market?

35.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: EURN (€8.86) is trading below our estimate of fair value (€13.77)

Significantly Below Fair Value: EURN is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: EURN is good value based on its PE Ratio (6.8x) compared to the Oil and Gas industry average (8.5x).

PE vs Market: EURN is good value based on its PE Ratio (6.8x) compared to the Belgian market (15.1x).


Price to Earnings Growth Ratio

PEG Ratio: EURN's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: EURN is overvalued based on its PB Ratio (0.9x) compared to the XE Oil and Gas industry average (0.7x).


Next Steps

Future Growth

How is Euronav forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

-76.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: EURN's earnings are forecast to decline over the next 3 years (-76.8% per year).

Earnings vs Market: EURN's earnings are forecast to decline over the next 3 years (-76.8% per year).

High Growth Earnings: EURN's earnings are forecast to decline over the next 3 years.

Revenue vs Market: EURN's revenue is expected to decline over the next 3 years (-22.2% per year).

High Growth Revenue: EURN's revenue is forecast to decline over the next 3 years (-22.2% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: EURN's Return on Equity is forecast to be low in 3 years time (9.7%).


Next Steps

Past Performance

How has Euronav performed over the past 5 years?

-35.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: EURN has high quality earnings.

Growing Profit Margin: EURN became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: EURN's earnings have declined by -35.8% per year over the past 5 years.

Accelerating Growth: EURN has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: EURN has become profitable in the last year, making it difficult to compare its past year earnings growth to the Oil and Gas industry (-9.2%).


Return on Equity

High ROE: EURN's Return on Equity (12.6%) is considered low.


Next Steps

Financial Health

How is Euronav's financial position?


Financial Position Analysis

Short Term Liabilities: EURN's short term assets ($812.0M) exceed its short term liabilities ($347.7M).

Long Term Liabilities: EURN's short term assets ($812.0M) do not cover its long term liabilities ($1.3B).


Debt to Equity History and Analysis

Debt Level: EURN's debt to equity ratio (58.4%) is considered high.

Reducing Debt: EURN's debt to equity ratio has reduced from 61.9% to 58.4% over the past 5 years.

Debt Coverage: EURN's debt is well covered by operating cash flow (32.9%).

Interest Coverage: EURN's interest payments on its debt are well covered by EBIT (4.2x coverage).


Balance Sheet


Next Steps

Dividend

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

32.31%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: EURN's dividend (32.31%) is higher than the bottom 25% of dividend payers in the Belgian market (2.38%).

High Dividend: EURN's dividend (32.31%) is in the top 25% of dividend payers in the Belgian market (5.35%)


Stability and Growth of Payments

Stable Dividend: EURN's dividend payments have been volatile in the past 10 years.

Growing Dividend: EURN's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (78.5%), EURN's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: EURN's dividends in 3 years are forecast to be covered by earnings (63.4% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.4yrs

Average management tenure


CEO

Hugo De Stoop (46yo)

1.08yrs

Tenure

US$369,208

Compensation

Mr. Hugo De Stoop is Chief Executive Officer at Euronav NV since May 9, 2019 and served as its Interim CFO since 2019 until October 2019. Mr. De Stoop has been a Member of Management Board at Euronav NV si ...


CEO Compensation Analysis

Compensation vs Market: Hugo's total compensation ($USD417.85K) is below average for companies of similar size in the Belgian market ($USD897.93K).

Compensation vs Earnings: Insufficient data to compare Hugo's compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
Hugo De Stoop
CEO & Member of the Management Board1.08yrsUS$369.21kno data
Lieve Logghe
CFO & Member of the Management Board0.42yrno datano data
Alex Staring
COO & Member of the Management Board15.42yrsno datano data
Egied Verbeeck
General Counsel & Member of the Management Board10.42yrsno datano data
Brian Gallagher
Head of Investor Relations1.42yrsno datano data
Stamatis Bourboulis
General Manager of Euronav Ship Management (Hellas) Ltd. & Member of the Management Board1.42yrsno datano data
Rustin Edwards
Head of Fuel Oil procurementno datano datano data
Roeland Neyrinck
Secretary General0.42yrno datano data

1.4yrs

Average Tenure

49.5yo

Average Age

Experienced Management: EURN's management team is not considered experienced ( 1.4 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Grace Skaugen
Independent Member of the Supervisory Board4.08yrsUS$152.50kno data
Carl Steen
Independent Chairman of the Supervisory Board4.5yrsUS$252.50kno data
Carl Trowell
Independent Member of the Supervisory Board1.08yrsno datano data
Ludovic Saverys
Member of the Supervisory Board5.08yrsUS$125.00kno data
Anne-Hélène Monsellato
Independent Member of the Supervisory Board5.08yrsUS$185.00kno data
Anita Odedra
Independent Member of the Supervisory Board1.08yrsno datano data

4.3yrs

Average Tenure

50.5yo

Average Age

Experienced Board: EURN's board of directors are considered experienced (4.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Euronav NV's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Euronav NV
  • Ticker: EURN
  • Exchange: ENXTBR
  • Founded: 2003
  • Industry: Oil and Gas Storage and Transportation
  • Sector: Energy
  • Market Cap: €1.906b
  • Shares outstanding: 215.08m
  • Website: https://www.euronav.com

Number of Employees


Location

  • Euronav NV
  • Belgica Building
  • De Gerlachekaai 20
  • Antwerp
  • Antwerp
  • 2000
  • Belgium

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
EURNNYSE (New York Stock Exchange)YesOrdinary SharesUSUSDDec 2004
EURNENXTBR (Euronext Brussels)YesOrdinary SharesBEEURDec 2004
OCWDB (Deutsche Boerse AG)YesOrdinary SharesDEEURDec 2004
0K9ALSE (London Stock Exchange)YesOrdinary SharesGBEURDec 2004
EURNBBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURDec 2004

Biography

Euronav NV, together with its subsidiaries, engages in the shipping and storage of crude oil worldwide. The company also offers floating, storage, and offloading (FSO) services. As of April 15, 2020, it owned and operated a fleet of 2 V-Plus vessels, 42 VLCCs, 26 Suezmaxes, and 2 FSO vessels. The company was incorporated in 2003 and is headquartered in Antwerp, Belgium. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/06 23:37
End of Day Share Price2020/06/05 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


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.