DB:A61

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Ardmore Shipping

Executive Summary

Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals worldwide.


Snowflake Analysis

Adequate balance sheet and fair value.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: A61's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-1.1%

A61

6.5%

DE Oil and Gas

2.8%

DE Market


1 Year Return

-49.0%

A61

38.2%

DE Oil and Gas

0.2%

DE Market

Return vs Industry: A61 underperformed the German Oil and Gas industry which returned 38.2% over the past year.

Return vs Market: A61 underperformed the German Market which returned 0.3% over the past year.


Shareholder returns

A61IndustryMarket
7 Day-1.1%6.5%2.8%
30 Day-21.3%2.8%-1.6%
90 Day-13.1%18.2%22.0%
1 Year-48.6%-49.0%40.3%38.2%2.3%0.2%
3 Year-45.0%-45.4%18.1%7.4%3.4%-5.0%
5 Year-61.4%-64.7%164.9%128.1%11.4%-3.4%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: A61 (€3.7) is trading below our estimate of fair value (€12.14)

Significantly Below Fair Value: A61 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: A61 is unprofitable, so we can't compare its PE Ratio to the Oil and Gas industry average.

PE vs Market: A61 is unprofitable, so we can't compare its PE Ratio to the German market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate A61's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: A61 is good value based on its PB Ratio (0.4x) compared to the DE Oil and Gas industry average (1.3x).


Next Steps

Future Growth

How is Ardmore Shipping forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

-10.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: A61 is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (0.2%).

Earnings vs Market: A61 is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: A61's is expected to become profitable in the next 3 years.

Revenue vs Market: A61's revenue is expected to decline over the next 3 years (-10.9% per year).

High Growth Revenue: A61's revenue is forecast to decline over the next 3 years (-10.9% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: A61's Return on Equity is forecast to be low in 3 years time (5.8%).


Next Steps

Past Performance

How has Ardmore Shipping performed over the past 5 years?

-61.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: A61 is currently unprofitable.

Growing Profit Margin: A61 is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: A61 is unprofitable, and losses have increased over the past 5 years at a rate of -61.5% per year.

Accelerating Growth: Unable to compare A61's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: A61 is unprofitable, making it difficult to compare its past year earnings growth to the Oil and Gas industry (-16.2%).


Return on Equity

High ROE: A61 has a negative Return on Equity (-2.17%), as it is currently unprofitable.


Next Steps

Financial Health

How is Ardmore Shipping's financial position?


Financial Position Analysis

Short Term Liabilities: A61's short term assets ($109.0M) exceed its short term liabilities ($70.1M).

Long Term Liabilities: A61's short term assets ($109.0M) do not cover its long term liabilities ($377.0M).


Debt to Equity History and Analysis

Debt Level: A61's debt to equity ratio (64.9%) is considered high.

Reducing Debt: A61's debt to equity ratio has reduced from 80.3% to 64.9% over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable A61 has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: A61 is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 47.8% per year.


Next Steps

Dividend

What is Ardmore Shipping current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate A61's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate A61's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if A61's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if A61's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: A61 is not paying a notable dividend for the German market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of A61's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

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

6.6yrs

Average management tenure


CEO

Tony Gurnee (60yo)

10.5yrs

Tenure

Mr. Anthony Gurnee, also known as Tony, CFA is the Founder and has been the Chief Executive Officer and President of Ardmore Shipping Corporation (a/k/a, Ardmore Shipping Limited) since 2010. Mr. Gurnee is ...


Leadership Team

NamePositionTenureCompensationOwnership
Anthony Gurnee
Founder10.5yrsno datano data
Paul Tivnan
Senior VP7.58yrsno datano data
Mark Cameron
Executive VP & COO10.08yrsno datano data
Aideen O'Driscoll
Director of HR3yrsno datano data
Gernot Ruppelt
Senior VP & Chief Commercial Officer5.58yrsno datano data
Barry O'Neill
Financial Controller0.58yrno datano data
Gerry Docherty
Director of Fleet Managementno datano datano data
Frits K?nst
Technical Projects Managerno datano datano data

6.6yrs

Average Tenure

47yo

Average Age

Experienced Management: A61's management team is seasoned and experienced (6.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Anthony Gurnee
Founder10.5yrsno datano data
Brian Dunne
Independent Director10.08yrsno datano data
Curtis McWilliams
Independent Chairman of the Board1.5yrsno datano data
Kirsi Kyllikki Tikka
Independent Director0.83yrno datano data
Mats Berglund
Independent Director1.83yrsno datano data
Helen Tveitan de Jong
Independent Director1.83yrsno datano data

1.8yrs

Average Tenure

58.5yo

Average Age

Experienced Board: A61's board of directors are not considered experienced ( 1.8 years average tenure), which suggests a new board.


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

Ardmore Shipping Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Ardmore Shipping Corporation
  • Ticker: A61
  • Exchange: DB
  • Founded: 2010
  • Industry: Oil and Gas Storage and Transportation
  • Sector: Energy
  • Market Cap: US$143.202m
  • Listing Market Cap: US$127.378m
  • Shares outstanding: 33.23m
  • Website: https://ardmoreshipping.com

Number of Employees


Location

  • Ardmore Shipping Corporation
  • Belvedere Building
  • Ground Floor
  • Pembroke
  • HM08
  • Bermuda

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ASCNYSE (New York Stock Exchange)YesCommon SharesUSUSDAug 2013
A61DB (Deutsche Boerse AG)YesCommon SharesDEEURAug 2013

Biography

Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals worldwide. As of August 30, 2019, the company operated a fleet of 25 double-hulled product and chemical tankers. It serves oil majors, oil companies, oil and chemical traders, and chemical companies. The company was founded in 2010 and is based in Pembroke, Bermuda. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/05 21:31
End of Day Share Price2020/07/03 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.