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Euronav

DB:OCW
Snowflake Description

Reasonable growth potential with imperfect balance sheet.

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

Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil and petroleum products worldwide. The last earnings update was 21 days ago. More info.


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OCW Share Price and Events
7 Day Returns
4.5%
DB:OCW
1.8%
DE Oil and Gas
1.5%
DE Market
1 Year Returns
18.1%
DB:OCW
18%
DE Oil and Gas
-6.2%
DE Market
OCW Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Euronav (OCW) 4.5% 18.2% 24.9% 18.1% -12.6% 0.5%
DE Oil and Gas 1.8% 3.7% 11.9% 18% 3.6% 51.7%
DE Market 1.5% 6% 8.5% -6.2% 10.7% 15.3%
1 Year Return vs Industry and Market
  • OCW outperformed the Market in Germany which returned -6.2% over the past year.
Price Volatility
OCW
Industry
5yr Volatility vs Market

Value

 Is Euronav 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 Euronav 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 Euronav.

DB:OCW Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 10 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.5%
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:OCW
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6.8%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.96
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.958 (1 + (1- 29%) (85.51%))
1.362
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.36
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.362 * 6.8%)
9.49%

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

The calculations below outline how an intrinsic value for Euronav 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:OCW DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.49%)
2019 378.19 Analyst x4 345.42
2020 476.56 Analyst x3 397.54
2021 312.55 Analyst x2 238.13
2022 221.76 Est @ -29.05% 154.32
2023 176.82 Est @ -20.27% 112.38
2024 151.86 Est @ -14.12% 88.15
2025 136.96 Est @ -9.81% 72.61
2026 127.64 Est @ -6.8% 61.81
2027 121.65 Est @ -4.69% 53.80
2028 117.74 Est @ -3.22% 47.56
Present value of next 10 years cash flows $1,571.73
DB:OCW DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $117.74 × (1 + 0.23%) ÷ (9.49% – 0.23%)
$1,274.33
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $1,274.33 ÷ (1 + 9.49%)10
$514.75
DB:OCW Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,571.73 + $514.75
$2,086.48
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,086.48 / 216.88
$9.51
DB:OCW Discount to Share Price
Calculation Result
Exchange Rate USD/EUR
(Reporting currency to currency of ENXTBR:EURN)
0.892
Value per Share
(EUR)
= Value per Share in USD x Exchange Rate (USD/EUR)
= $9.62 x 0.892
€8.59
Non-primary Listing Adjustment Factor 1 share in DB:OCW represents 1.01175x of ENXTBR:EURN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.01175x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 8.59 x 1.01175
€8.69
Value per share (EUR) From above. €8.69
Current discount Discount to share price of €8.62
= -1 x (€8.62 - €8.69) / €8.69
0.8%

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

Current Discount
Amount off the current price Euronav is available for.
Intrinsic value
1%
Share price is €8.62 vs Future cash flow value of €8.69
Current Discount Checks
For Euronav to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Euronav's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Euronav'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 Euronav's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Euronav's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:OCW PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $-0.57
ENXTBR:EURN Share Price ** ENXTBR (2019-04-23) in EUR €8.52
ENXTBR:EURN Share Price converted to USD reporting currency Exchange rate (EUR/ USD) 1.121 $9.54
Germany Oil and Gas Industry PE Ratio Median Figure of 5 Publicly-Listed Oil and Gas Companies 17.21x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.6x

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

** Primary Listing of Euronav.

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

= ENXTBR:EURN Share Price ÷ EPS (both in USD)

= 9.54 ÷ -0.57

-16.64x

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

  • Euronav is loss making, we can't compare its value to the DE Oil and Gas industry average.
  • Euronav is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Euronav's expected growth come at a high price?
Raw Data
DB:OCW PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -16.64x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
66.1%per year
Europe Oil and Gas Industry PEG Ratio Median Figure of 58 Publicly-Listed Oil and Gas Companies 1x
Germany Market PEG Ratio Median Figure of 269 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Euronav, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Euronav's assets?
Raw Data
DB:OCW PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $10.33
ENXTBR:EURN Share Price * ENXTBR (2019-04-23) in EUR €8.52
ENXTBR:EURN Share Price converted to USD reporting currency Exchange rate (EUR/ USD) 1.121 $9.54
Germany Oil and Gas Industry PB Ratio Median Figure of 7 Publicly-Listed Oil and Gas Companies 0.89x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.84x
DB:OCW PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTBR:EURN Share Price ÷ Book Value per Share (both in USD)

= 9.54 ÷ 10.33

0.92x

* Primary Listing of Euronav.

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

  • Euronav is overvalued based on assets compared to the DE Oil and Gas industry average.
X
Value checks
We assess Euronav'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. Euronav has a total score of 0/6, 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.

Future Performance

 How is Euronav expected to perform in the next 1 to 3 years based on estimates from 10 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
66.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Euronav expected to grow at an attractive rate?
  • Euronav's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Euronav's earnings growth is expected to exceed the Germany market average.
  • Euronav's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:OCW Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:OCW Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 66.1%
DB:OCW Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts 16.5%
Europe Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 7.7%
Europe Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 1.9%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*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:OCW Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:OCW Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 1,190 539 219 1
2021-12-31 1,047 548 238 2
2020-12-31 947 482 288 4
2019-12-31 805 346 -56 4
DB:OCW Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 600 1 -110
2018-09-30 482 7 -91
2018-06-30 426 67 -60
2018-03-31 447 150 -72
2017-12-31 513 211 1
2017-09-30 542 247 32
2017-06-30 570 281 60
2017-03-31 634 323 125
2016-12-31 684 438 204
2016-09-30 764 499 259
2016-06-30 834 557 331
2016-03-31 857 562 383

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Euronav's earnings are expected to grow significantly at over 20% yearly.
  • Euronav's revenue is expected to grow by 16.5% 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:OCW 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 10 Analyst Estimates (S&P Global) See Below

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

DB:OCW Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 1.01 1.14 0.87 2.00
2020-12-31 2.56 2.56 2.56 1.00
2019-12-31 0.61 0.61 0.61 1.00
DB:OCW Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 -0.57
2018-09-30 -0.51
2018-06-30 -0.37
2018-03-31 -0.46
2017-12-31 0.01
2017-09-30 0.20
2017-06-30 0.38
2017-03-31 0.79
2016-12-31 1.29
2016-09-30 1.63
2016-06-30 2.09
2016-03-31 2.42

*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.
  • Euronav is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Euronav'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.
Euronav has a total score of 4/6, 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.

Past Performance

  How has Euronav 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 Euronav'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.
  • Euronav does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Euronav's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Euronav's 1-year growth to the Europe Oil and Gas industry average as it is not currently profitable.
Earnings and Revenue History
Euronav'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 Euronav Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:OCW Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 600.02 -110.07 61.23
2018-09-30 481.90 -90.99 63.99
2018-06-30 425.53 -60.31 50.67
2018-03-31 447.35 -72.03 49.94
2017-12-31 513.37 1.38 46.87
2017-09-30 541.67 32.32 44.55
2017-06-30 570.41 60.45 44.68
2017-03-31 633.55 124.83 44.25
2016-12-31 684.27 204.05 44.05
2016-09-30 763.63 258.62 48.76
2016-06-30 834.43 330.74 46.85
2016-03-31 856.86 382.99 46.72
2015-12-31 846.51 350.30 46.25
2015-09-30 765.73 241.51 42.42
2015-06-30 689.36 148.71 44.47
2015-03-31 572.46 33.69 42.05
2014-12-31 473.99 -45.80 40.57
2014-09-30 409.41 -65.13 44.39
2014-06-30 351.96 -71.66 44.39
2014-03-31 428.64 -77.59
2013-12-31 304.62 -89.68 27.17
2013-09-30 219.53 -130.13 1.17
2013-06-30 242.80 -137.91 1.17
2013-03-31 380.31 -120.29
2012-12-31 320.84 -118.60 1.17
2012-09-30 418.59 -105.22
2012-06-30 413.27 -110.82

*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.
  • It is difficult to establish if Euronav has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Euronav has efficiently used its assets last year compared to the DE Oil and Gas industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Euronav improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Euronav'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.
Euronav has a total score of 0/6, 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.

Health

 How is Euronav'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 Euronav's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Euronav is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Euronav's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Euronav'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 not covered by short term assets, assets are 0.3x 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 Euronav Company Filings, last reported 3 months ago.

DB:OCW Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 2,260.52 1,769.56 173.13
2018-09-30 2,267.01 1,795.54 150.08
2018-06-30 2,336.58 1,758.74 206.28
2018-03-31 1,805.59 924.92 127.90
2017-12-31 1,846.36 898.72 143.65
2017-09-30 1,826.76 951.25 97.20
2017-06-30 1,864.19 1,119.63 235.70
2017-03-31 1,922.64 1,016.23 106.78
2016-12-31 1,887.96 1,085.56 206.69
2016-09-30 1,837.52 1,136.36 90.68
2016-06-30 1,924.45 1,073.18 100.49
2016-03-31 2,015.46 967.53 139.74
2015-12-31 1,905.75 1,052.45 131.66
2015-09-30 1,799.38 1,227.85 173.44
2015-06-30 1,824.85 1,202.47 148.22
2015-03-31 1,763.73 1,090.09 162.21
2014-12-31 1,472.71 1,488.83 254.09
2014-09-30 1,476.23 1,141.25 105.54
2014-06-30 1,374.32 1,104.27 274.49
2014-03-31 800.99 1,179.58 120.75
2013-12-31 800.99 974.88 74.31
2013-09-30
2013-06-30 832.51 1,212.35 98.46
2013-03-31 866.97 1,288.08 145.84
2012-12-31 866.97 1,050.89 113.05
2012-09-30 962.72 1,411.51 122.97
2012-06-30 962.72 1,411.51 122.97
  • Euronav's level of debt (78.3%) 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 (122% vs 78.3% today).
  • Debt is not well covered by operating cash flow (0%, less than 20% of total debt).
  • Unable to confirm if the interest payments on Euronav's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Euronav'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. Euronav has a total score of 2/6, 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.

Dividends

 What is Euronav'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
1.26%
Current annual income from Euronav dividends. Estimated to be 6.2% next year.
If you bought €2,000 of Euronav shares you are expected to receive €25 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?
  • Euronav's pays a lower dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • Euronav's dividend is below the markets top 25% of dividend payers in Germany (3.71%).
Upcoming dividend payment

Purchase Euronav before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:OCW 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 10 Analyst Estimates (S&P Global) See Below
Europe Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 61 Stocks 5.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

DB:OCW Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31 0.69 2.00
2020-12-31 0.97 2.00
2019-12-31 0.12 2.00
DB:OCW Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-20 0.120 1.395
2019-01-24 0.120 1.519
2018-10-30 0.120 1.478
2018-08-09 0.120 1.393
2018-03-21 0.120 1.376
2018-03-01 0.120 1.422
2017-04-04 0.770 9.535
2017-03-16 0.770 9.656
2016-05-12 1.640 19.634
2015-10-29 1.240 10.779
2015-08-20 1.240 8.623
2015-05-13 0.250 1.701
2012-08-28 0.000 0.000
2012-07-17 0.000 0.000
2012-04-17 0.000 0.000
2012-03-30 0.000 0.000
2012-03-21 0.000 0.000
2011-03-28 0.127 1.828
2010-10-19 0.129 0.818
2010-08-26 0.123 0.659
2010-01-19 0.119 0.646
2009-12-31 0.143 0.623
2009-04-24 4.183 23.914

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 Euronav's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.5x coverage).
X
Income/ dividend checks
We assess Euronav'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 Euronav afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Euronav has a total score of 1/6, see the detailed checks below.


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

Management

 What is the CEO of Euronav'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
Paddy Rodgers
COMPENSATION $781,564
AGE 59
TENURE AS CEO 19.3 years
CEO Bio

Mr. Patrick Rodgers, also known as Paddy, has been the Chief Executive Officer at Euronav NV since 2000. Mr. Rodgers started his career in 1982 as a Trainee Lawyer with Keene Marsland & Co. In 1984 he joined Bentley, Stokes & Lowless as a qualified lawyer. He started work as a barrister at Johnson, Stokes & Master in Hong Kong in 1986. He joined the CMB group in 1989, where from 1990 to 1995 he was employed as an InHouse lawyer and subsequently as Shipping Executive. Since 1998, he served as Chief Financial Officer of Euronav (UK). He has been a Director of Euronav NV since June 2003. He studied at University College London from 1978 to 1981 and at the College of Law, Guildford from 1981 to 1982.

CEO Compensation
  • Paddy's compensation has been consistent with company performance over the past year.
  • Paddy's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Euronav management team in years:

10.3
Average Tenure
46.5
Average Age
  • The average tenure for the Euronav management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Paddy Rodgers

TITLE
CEO & Director
COMPENSATION
$782K
AGE
59
TENURE
19.3 yrs

Hugo De Stoop

TITLE
Chief Financial Officer
AGE
45
TENURE
11.3 yrs

Alex Staring

TITLE
Chief Operating Officer
AGE
53
TENURE
14.3 yrs

Brian Gallagher

TITLE
Head of Investor Relations & Communications
AGE
48
TENURE
5.1 yrs

Egied Verbeeck

TITLE
General Counsel
AGE
44
TENURE
10.3 yrs

Ann Brown

TITLE
HR Group Head
TENURE
1.3 yrs

An Goris

TITLE
Secretary General
AGE
41
TENURE
4.8 yrs
Board of Directors Tenure

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

3.9
Average Tenure
62
Average Age
  • The tenure for the Euronav board of directors is about average.
Board of Directors

Carl Steen

TITLE
Chairman
COMPENSATION
$230K
AGE
67
TENURE
3.3 yrs

Paddy Rodgers

TITLE
CEO & Director
COMPENSATION
$782K
AGE
59
TENURE
15.8 yrs

Daniel Bradshaw

TITLE
Independent Director
COMPENSATION
$163K
AGE
71
TENURE
15.3 yrs

Anne-Hélène Monsellato

TITLE
Independent Director
COMPENSATION
$180K
AGE
50
TENURE
3.9 yrs

Grace Skaugen

TITLE
Independent Director
COMPENSATION
$108K
AGE
65
TENURE
2.9 yrs

Ludovic Saverys

TITLE
Director
COMPENSATION
$125K
AGE
34
TENURE
3.9 yrs

Steven Smith

TITLE
Independent Director
TENURE
0.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Euronav'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. Euronav 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.

News

Simply Wall St News

Company Info

Description

Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil and petroleum products worldwide. The company operates through two segments, Tankers; and Floating Production, Storage, and Offloading Operations. As of March 18, 2019, it owned and managed a fleet of 72 vessels, including 43 very large crude carriers, 2 V-Plus vessels, 2 FSO vessels, and 25 Suezmax vessels, as well as 2 floating, storage, and offloading vessels. The company was incorporated in 2003 and is headquartered in Antwerp, Belgium.

Details
Name: Euronav NV
OCW
Exchange: DB
Founded: 2003
€1,846,737,806
216,880,541
Website: http://www.euronav.com
Address: Euronav NV
De Gerlachekaai 20,
Antwerp,
Antwerp, 2000,
Belgium
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTBR EURN Ordinary Shares Euronext Brussels BE EUR 01. Dec 2004
NYSE EURN Ordinary Shares New York Stock Exchange US USD 01. Dec 2004
DB OCW Ordinary Shares Deutsche Boerse AG DE EUR 01. Dec 2004
LSE 0K9A Ordinary Shares London Stock Exchange GB EUR 01. Dec 2004
BATS-CHIXE EURNB Ordinary Shares BATS 'Chi-X Europe' GB EUR 01. Dec 2004
Number of employees
Current staff
Staff numbers
2,900
Euronav employees.
Industry
Oil and Gas Storage and Transportation
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 20:37
End of day share price update: 2019/04/23 00:00
Last estimates confirmation: 2019/04/18
Last earnings filing: 2019/04/02
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.