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DNO

DB:NK1A
Snowflake Description

Good value with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NK1A
DB
NOK18B
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

DNO ASA engages in the exploration, development, and production of oil and gas assets in the Middle East and North Africa. The last earnings update was 11 days ago. More info.


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NK1A Share Price and Events
7 Day Returns
3.6%
DB:NK1A
0.7%
DE Oil and Gas
-0.2%
DE Market
1 Year Returns
2.4%
DB:NK1A
15.5%
DE Oil and Gas
-10.3%
DE Market
NK1A Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
DNO (NK1A) 3.6% -14.7% -6.9% 2.4% 92.6% -36.9%
DE Oil and Gas 0.7% 6% 10.3% 15.5% 20.5% 68.3%
DE Market -0.2% -2.4% 4.2% -10.3% 11.2% 10.8%
1 Year Return vs Industry and Market
  • NK1A underperformed the Oil and Gas industry which returned 15.5% over the past year.
  • NK1A outperformed the Market in Germany which returned -10.3% over the past year.
Price Volatility
NK1A
Industry
5yr Volatility vs Market
Related Companies

NK1A Value

 Is DNO 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 DNO 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 DNO.

DB:NK1A Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.9%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

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 DB:NK1A
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.92
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.917 (1 + (1- 23%) (36.8%))
1.118
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.12
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.118 * 5.96%)
6.89%

Discounted Cash Flow Calculation for DB:NK1A using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for DNO 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.

DB:NK1A DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 6.89%)
2019 462.00 Analyst x3 432.21
2020 425.18 Analyst x4 372.11
2021 292.20 Analyst x4 239.24
2022 353.77 Analyst x1 270.97
2023 586.67 Analyst x1 420.37
2024 641.21 Est @ 9.3% 429.82
2025 683.38 Est @ 6.58% 428.55
2026 715.30 Est @ 4.67% 419.64
2027 739.18 Est @ 3.34% 405.68
2028 756.96 Est @ 2.41% 388.65
Present value of next 10 years cash flows $3,807.25
DB:NK1A DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $756.96 × (1 + 0.23%) ÷ (6.89% – 0.23%)
$11,382.26
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $11,382.26 ÷ (1 + 6.89%)10
$5,844.06
DB:NK1A Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $3,807.25 + $5,844.06
$9,651.31
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $9,651.31 / 1,048.81
$90.91
DB:NK1A Discount to Share Price
Calculation Result
Exchange Rate USD/NOK
(Reporting currency to currency of OB:DNO)
8.78
Value per Share
(NOK)
= Value per Share in USD x Exchange Rate (USD/NOK)
= $9.2 x 8.78
NOK80.79
Non-primary Listing Adjustment Factor 1 share in DB:NK1A represents 0.10122x of OB:DNO
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.10122x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (NOK) x Listing Adjustment Factor
= NOK 80.79 x 0.10122
€8.18
Value per share (EUR) From above. €8.18
Current discount Discount to share price of €1.74
= -1 x (€1.74 - €8.18) / €8.18
78.7%

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

Current Discount
Amount off the current price DNO is available for.
Intrinsic value
>50%
Share price is €1.74 vs Future cash flow value of €8.18
Current Discount Checks
For DNO to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • DNO's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • DNO's share price is below the future cash flow value, and 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 DNO's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are DNO's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:NK1A PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $0.36
OB:DNO Share Price ** OB (2019-05-17) in NOK NOK17.2
OB:DNO Share Price converted to USD reporting currency Exchange rate (NOK/ USD) 0.114 $1.96
Germany Oil and Gas Industry PE Ratio Median Figure of 5 Publicly-Listed Oil and Gas Companies 9.63x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 20.17x

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

** Primary Listing of DNO.

DB:NK1A PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OB:DNO Share Price ÷ EPS (both in USD)

= 1.96 ÷ 0.36

5.44x

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

  • DNO is good value based on earnings compared to the DE Oil and Gas industry average.
  • DNO is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does DNO's expected growth come at a high price?
Raw Data
DB:NK1A PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.44x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
-6.7%per year
Europe Oil and Gas Industry PEG Ratio Median Figure of 59 Publicly-Listed Oil and Gas Companies 0.96x
Germany Market PEG Ratio Median Figure of 273 Publicly-Listed Companies 1.53x

*Line of best fit is calculated by linear regression .

DB:NK1A PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 5.44x ÷ -6.7%

-0.81x

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

  • DNO 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 DNO's assets?
Raw Data
DB:NK1A PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $1.24
OB:DNO Share Price * OB (2019-05-17) in NOK NOK17.2
OB:DNO Share Price converted to USD reporting currency Exchange rate (NOK/ USD) 0.114 $1.96
Germany Oil and Gas Industry PB Ratio Median Figure of 6 Publicly-Listed Oil and Gas Companies 1.1x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.77x
DB:NK1A PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OB:DNO Share Price ÷ Book Value per Share (both in USD)

= 1.96 ÷ 1.24

1.58x

* Primary Listing of DNO.

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

  • DNO is overvalued based on assets compared to the DE Oil and Gas industry average.
X
Value checks
We assess DNO'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 Oil and Gas 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 Oil and Gas industry average (and greater than 0)? (1 check)
  5. DNO has a total score of 4/6, 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.

NK1A Future Performance

 How is DNO expected to perform in the next 1 to 3 years based on estimates from 5 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
-6.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is DNO expected to grow at an attractive rate?
  • DNO's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.2%.
Growth vs Market Checks
  • DNO's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • DNO's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:NK1A Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:NK1A Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts -6.7%
DB:NK1A Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 3.8%
Europe Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 7.1%
Europe Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 2.2%
Germany Market Earnings Growth Rate Market Cap Weighted Average 13.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*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
DB:NK1A Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:NK1A Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 1,328 803 342 2
2022-12-31 1,148 745 304 2
2021-12-31 1,146 721 369 5
2020-12-31 1,281 877 475 5
2019-12-31 1,081 828 377 2
DB:NK1A Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 891 430 387
2018-12-31 829 471 354
2018-09-30 577 391 155
2018-06-30 478 303 554
2018-03-31 413 292 499
2017-12-31 347 337 495
2017-09-30 274 263 433
2017-06-30 249 253 -33
2017-03-31 229 167 -16
2016-12-31 202 62 -35
2016-09-30 214 42 -87
2016-06-30 217 -8 -99

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • DNO's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • DNO's revenue is expected to grow by 3.8% 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
DB:NK1A Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from DNO Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:NK1A Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.36 0.42 0.26 4.00
2020-12-31 0.44 0.52 0.38 5.00
2019-12-31 0.35 0.35 0.35 2.00
DB:NK1A Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 0.36
2018-12-31 0.34
2018-09-30 0.15
2018-06-30 0.60
2018-03-31 0.54
2017-12-31 0.47
2017-09-30 0.40
2017-06-30 -0.03
2017-03-31 -0.01
2016-12-31 -0.03
2016-09-30
2016-06-30

*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.
  • DNO is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess DNO'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.
DNO has a total score of 1/6, 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.

NK1A Past Performance

  How has DNO 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 DNO's growth in the last year to its industry (Oil and Gas).
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.
  • DNO has delivered over 20% year on year earnings growth in the past 5 years.
  • DNO's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • DNO's 1-year earnings growth is negative, it can't be compared to the Europe Oil and Gas industry average.
Earnings and Revenue History
DNO'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 DNO Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:NK1A Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 891.10 387.00 110.20
2018-12-31 829.30 354.30 98.70
2018-09-30 576.60 154.50 99.80
2018-06-30 478.30 554.10 102.30
2018-03-31 413.00 498.70 93.90
2017-12-31 347.40 495.00 63.80
2017-09-30 273.50 433.30 42.20
2017-06-30 249.40 -32.60 33.10
2017-03-31 228.90 -15.70 46.30
2016-12-31 201.80 -35.30 50.00
2016-09-30 214.10 -87.40 50.80
2016-06-30 217.40 -99.10 50.60
2016-03-31 211.00 -143.00 41.50
2015-12-31 187.40 -212.30 37.40
2015-09-30 213.00 -381.50 41.90
2015-06-30 276.60 -408.30 58.50
2015-03-31 365.20 -324.00 57.40
2014-12-31 452.00 -226.10 63.60
2014-09-30 505.50 -71.70 60.20
2014-06-30 525.00 17.00 47.20
2014-03-31 512.50 20.60 45.50
2013-12-31 503.00 27.00 38.60
2013-09-30 607.89 259.80 29.56
2013-06-30 558.16 227.13 25.47
2013-03-31 467.51 155.30 28.46
2012-12-31 510.44 186.73 30.18
2012-09-30 402.74 90.30 38.46
2012-06-30 323.06 123.70 34.88

*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.
  • DNO has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • DNO used its assets more efficiently than the DE Oil and Gas industry average last year based on Return on Assets.
  • DNO has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess DNO'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 Oil and Gas 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.
DNO has a total score of 4/6, 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.

NK1A Health

 How is DNO'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 DNO's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • DNO is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • DNO's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of DNO'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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.2x 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 DNO Company Filings, last reported 1 month ago.

DB:NK1A Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,270.40 756.30 254.40
2018-12-31 1,217.80 594.10 729.10
2018-09-30 1,028.80 616.10 640.20
2018-06-30 956.20 611.90 584.00
2018-03-31 896.80 409.30 518.40
2017-12-31 875.90 390.40 430.20
2017-09-30 848.50 416.30 399.00
2017-06-30 381.20 401.30 380.50
2017-03-31 413.20 364.50 362.90
2016-12-31 401.90 361.70 261.10
2016-09-30 433.90 359.00 266.30
2016-06-30 438.80 356.20 249.00
2016-03-31 431.80 353.40 261.80
2015-12-31 436.20 350.70 237.60
2015-09-30 522.20 347.90 247.20
2015-06-30 536.30 525.60 450.20
2015-03-31 577.20 208.70 203.60
2014-12-31 532.80 214.70 113.80
2014-09-30 791.70 225.80 165.70
2014-06-30 832.80 229.80 195.10
2014-03-31 788.00 232.00 242.20
2013-12-31 758.50 230.40 263.50
2013-09-30 854.23 231.09 262.13
2013-06-30 799.68 228.26 270.38
2013-03-31 753.67 232.86 300.05
2012-12-31 720.86 237.92 269.05
2012-09-30 575.63 261.78 191.60
2012-06-30 588.87 258.81 275.12
  • DNO's level of debt (59.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (29.4% vs 59.5% today).
  • Debt is well covered by operating cash flow (56.8%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8x coverage).
X
Financial health checks
We assess DNO'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. DNO 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.

NK1A Dividends

 What is DNO'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
2.32%
Current annual income from DNO dividends. Estimated to be 2.97% next year.
If you bought €2,000 of DNO shares you are expected to receive €46 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?
  • DNO's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.45%).
  • DNO's dividend is below the markets top 25% of dividend payers in Germany (3.81%).
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
DB:NK1A 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 5 Analyst Estimates (S&P Global) See Below
Europe Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 60 Stocks 5.5%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

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

DB:NK1A Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.05 2.00
2022-12-31 0.05 2.00
2021-12-31 0.08 4.00
2020-12-31 0.06 5.00
2019-12-31 0.05 3.00
DB:NK1A Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-06 0.046 2.152
2018-11-01 0.046 2.715
2018-08-16 0.047 2.472

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

  • It is too early to tell whether DNO has stable dividend payments.
  • DNO only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of DNO's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (7.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (6.1x coverage).
X
Income/ dividend checks
We assess DNO's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 DNO afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. DNO 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.

NK1A Management

 What is the CEO of DNO'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
Bjørn Dale
COMPENSATION $774,100
CEO Bio

Mr. Bjørn Dale serves as Managing Director of DNO ASA. Mr. Dale served as Secretary at DNO ASA since 2011 and served as its Acting President. He served as Acting Managing Director and General Counsel at DNO ASA. Mr. Dale has extensive experience in managing corporate development projects, including cross-border transactions, corporate restructuring, as well as corporate governance issues. Mr. Dale has experience from top-tier Norwegian law firms and served as Head of corporate development and general counsel of a Nordic financial services group. He has been Non Executive Director of RAK Petroleum plc since June 25, 2015. Mr. Dale holds a law degree from the Faculty of Law at the University of Oslo and an Executive MBA in Financial Management from Stockholm School of Economics.

CEO Compensation
  • Bjørn's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Bjørn's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure of the DNO management team in years:

3.6
Average Tenure
  • The tenure for the DNO management team is about average.
Management Team

Bijan Mossavar-Rahmani

TITLE
Executive Chairman
AGE
66

Bjørn Dale

TITLE
Managing Director
COMPENSATION
$774K

Haakon Sandborg

TITLE
Chief Financial Officer
COMPENSATION
$429K
AGE
60
TENURE
18.3 yrs

Ute Quinn

TITLE
General Counsel & Corporate Secretary
COMPENSATION
$541K
TENURE
2.3 yrs

Nicholas Whiteley

TITLE
Exploration Director
COMPENSATION
$559K
TENURE
3.6 yrs

Aslak Steinsvik

TITLE
Head of Information Technology

Kenneth Myhrvold

TITLE
Chief Petroleum Engineer & Petroleum Technology Department Manager

Aernout Van Der Gaag

TITLE
Deputy Chief Financial Officer

Trond Myrseth

TITLE
Technical Director
COMPENSATION
$550K
Board of Directors Tenure

Average tenure and age of the DNO board of directors in years:

8.4
Average Tenure
65
Average Age
  • The tenure for the DNO board of directors is about average.
Board of Directors

Bijan Mossavar-Rahmani

TITLE
Executive Chairman
AGE
66
TENURE
7.9 yrs

Lars Takla

TITLE
Deputy Chairman
AGE
74

Drøbak Hirsti

TITLE
Director
AGE
64
TENURE
11.5 yrs

Elin Karfjell

TITLE
Director
AGE
53
TENURE
3.9 yrs

Shelley Watson

TITLE
Director
TENURE
8.9 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by DNO insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
09. May 19 Buy Christopher Spencer Individual 09. May 19 09. May 19 3,000 €1.73 €5,198
19. Feb 19 Buy Lars Takla Individual 19. Feb 19 19. Feb 19 10,000 €1.86 €18,615
X
Management checks
We assess DNO'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. DNO 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.

NK1A News

Simply Wall St News

NK1A Company Info

Description

DNO ASA engages in the exploration, development, and production of oil and gas assets in the Middle East and North Africa. Its flagship project is the Tawke field that is located in the Kurdistan region of Iraq. As of December 31, 2018, its proven reserves consisted of 239.7 million barrels of oil equivalent (MMboe); proven and probable reserves included 376.1 MMboe; and proven, probable, and possible reserves consisted of 538.9 MMboe. The company was founded in 1971 and is headquartered in Oslo, Norway.

Details
Name: DNO ASA
NK1A
Exchange: DB
Founded: 1971
NOK1,841,571,045
1,048,814,161
Website: http://www.dno.no
Address: DNO ASA
Dokkveien 1,
Aker Brygge,
Oslo,
Oslo, 0250,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB DNO Ordinary Shares Oslo Bors NO NOK 02. Jan 1992
OTCPK DTNO.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB NK1A Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0MHP Ordinary Shares London Stock Exchange GB NOK 02. Jan 1992
BATS-CHIXE DNOO Ordinary Shares BATS 'Chi-X Europe' GB NOK 02. Jan 1992
OTCPK DTNO.Y UNSPONSORED ADR Pink Sheets LLC US USD 21. Oct 2008
Number of employees
Current staff
Staff numbers
1,073
DNO employees.
Industry
Oil and Gas Exploration and Production
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/19 21:13
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/16
Last earnings filing: 2019/05/08
Last earnings reported: 2019/03/31
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.