Stock Analysis Report

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Executive Summary

PGS ASA operates as a marine geophysical company.

Snowflake Analysis

Fair value with imperfect balance sheet.

Similar Companies

Share Price & News

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

Latest Share Price and Events

Stable Share Price: PGS1's share price has been volatile over the past 3 months.

Market Performance

7 Day Return




DE Energy Services


DE Market

1 Year Return




DE Energy Services


DE Market

Return vs Industry: PGS1 underperformed the German Energy Services industry which returned -51.9% over the past year.

Return vs Market: PGS1 underperformed the German Market which returned 3.7% over the past year.

Shareholder returns

7 Day0.07%-4.1%-1.6%
30 Day-4.9%-5.2%0.2%
90 Day8.0%-4.5%12.8%
1 Year-76.1%-76.1%-47.9%-48.8%10.7%8.3%
3 Year-83.7%-83.7%-52.5%-56.2%3.8%-4.5%
5 Year-93.1%-93.1%-69.7%-83.6%9.6%-5.2%

Price Volatility Vs. Market

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

Simply Wall St News

No news available


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


Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: PGS1 (€0.29) is trading below our estimate of fair value (€4.09)

Significantly Below Fair Value: PGS1 is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: PGS1 is unprofitable, so we can't compare its PE Ratio to the XE Energy Services industry average.

PE vs Market: PGS1 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 PGS1's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: PGS1 is good value based on its PB Ratio (0.3x) compared to the XE Energy Services industry average (0.6x).

Next Steps

Future Growth

How is PGS forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: PGS1 is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: PGS1 is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: PGS1 is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: PGS1's revenue (10.5% per year) is forecast to grow faster than the German market (5.8% per year).

High Growth Revenue: PGS1's revenue (10.5% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: PGS1 is forecast to be unprofitable in 3 years.

Next Steps

Past Performance

How has PGS performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: PGS1 is currently unprofitable.

Growing Profit Margin: PGS1 is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: PGS1 is unprofitable, but has reduced losses over the past 5 years at a rate of 22% per year.

Accelerating Growth: Unable to compare PGS1's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: PGS1 is unprofitable, making it difficult to compare its past year earnings growth to the Energy Services industry (11.1%).

Return on Equity

High ROE: PGS1 has a negative Return on Equity (-39.35%), as it is currently unprofitable.

Next Steps

Financial Health

How is PGS's financial position?

Financial Position Analysis

Short Term Liabilities: PGS1's short term assets ($420.8M) do not cover its short term liabilities ($592.8M).

Long Term Liabilities: PGS1's short term assets ($420.8M) do not cover its long term liabilities ($1.1B).

Debt to Equity History and Analysis

Debt Level: PGS1's debt to equity ratio (241.2%) is considered high.

Reducing Debt: PGS1's debt to equity ratio has increased from 62.6% to 241.2% 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 PGS1 has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: PGS1 is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 44.3% per year.

Next Steps


What is PGS current dividend yield, its reliability and sustainability?


Forecast Dividend Yield

Dividend Yield vs Market

Notable Dividend: Unable to evaluate PGS1's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate PGS1'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 PGS1's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if PGS1's dividend payments have been increasing.

Current Payout to Shareholders

Dividend Coverage: PGS1 is not paying a notable dividend for the German market.

Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of PGS1's dividend in 3 years as they are not forecast to pay a notable one for the German market.

Next Steps


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


Average management tenure


Rune Pedersen (50 yo)





Mr. Rune Olav Pedersen has been President and Chief Executive Officer of PGS ASA (formerly known as Petroleum Geo-Services ASA) since September 1, 2017. Mr. Pedersen served as an Executive Vice President a ...

CEO Compensation Analysis

Compensation vs Market: Rune's total compensation ($USD936.99K) is above average for companies of similar size in the German market ($USD469.66K).

Compensation vs Earnings: Rune's compensation has increased whilst the company is unprofitable.

Leadership Team

Rune Pedersen
President & CEO2.92yrsUS$936.99k0.032%
$ 36.6k
Gottfred Langseth
CFO & Executive VP16.58yrsUS$711.94k0.071%
$ 81.5k
Nathan Oliver
Executive Vice President of Sales & Imaging1.58yrsUS$534.29kno data
Berit Osnes
Executive Vice President of New Ventures1.58yrsUS$487.36k0.0094%
$ 10.7k
Rob Adams
Executive Vice President of Operations0.58yrno data0.0023%
$ 2.6k
David Dakin
Chief Accounting Officerno datano data0.0020%
$ 2.3k
Bård Stenberg
Senior VP of IR & Communicationno datano data0.0024%
$ 2.8k
Lars van der Bijl Mysen
General Counselno datano data0.0093%
$ 10.7k
Kai Reith
Senior VP of Corporate Developmentno datano data0.011%
$ 13.1k
Kristin Omreng
Senior VP of Global Human Resourcesno datano datano data
Magne Reiersgard
Executive Vice President of Marine Contract5.75yrsUS$651.78kno data
Joanna Oustad
Senior Vice President of Healthno datano datano data


Average Tenure


Average Age

Experienced Management: PGS1's management team is considered experienced (2.3 years average tenure).

Board Members

Anne Dalane
Independent Vice Chairperson2.58yrsUS$77.50k0.0046%
$ 5.3k
Trond Brandsrud
Independent Director1.33yrsUS$49.31k0.0090%
$ 10.4k
Walter Qvam
Independent Chairperson4.25yrsUS$114.50k0.0090%
$ 10.4k
Anette Valbø
Employee Elected Director5.58yrsUS$7.79k0.0018%
$ 2.1k
Richard Herbert
Independent Director3.25yrsUS$96.00k0.0049%
$ 5.6k
Hege Renshus
Employee Elected Director3.58yrsUS$7.79k0.00050%
$ 573.2
Marianne Kah
Independent Director2.33yrsUS$96.00k0.0074%
$ 8.5k
Grunde Rønholt
Employee Elected Director1.58yrsUS$7.79k0.012%
$ 13.3k


Average Tenure


Average Age

Experienced Board: PGS1's board of directors are not considered experienced ( 2.9 years average tenure), which suggests a new board.


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.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 14.4%.

Top Shareholders

Company Information

PGS ASA's company bio, employee growth, exchange listings and data sources

Key Information

  • Name: PGS ASA
  • Ticker: PGS1
  • Exchange: DB
  • Founded: 1991
  • Industry: Oil and Gas Equipment and Services
  • Sector: Energy
  • Market Cap: kr1.231b
  • Listing Market Cap: kr114.646m
  • Shares outstanding: 387.21m
  • Website: https://www.pgs.com

Number of Employees


  • Lilleakerveien 4C
  • Oslo
  • Oslo
  • 283
  • Norway


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PGEJ.FOTCPK (Pink Sheets LLC)YesCommon StockUSUSDNov 2003
PGS1DB (Deutsche Boerse AG)YesCommon StockDEEURNov 2003
PGSOB (Oslo Bors)YesCommon StockNONOKNov 2003
0MHRLSE (London Stock Exchange)YesCommon StockGBNOKNov 2003
PGSOBATS-CHIXE (BATS 'Chi-X Europe')YesCommon StockGBNOKNov 2003


PGS ASA operates as a marine geophysical company. The company offers a range of seismic and reservoir services, including acquisition, imaging, interpretation, and field evaluation to oil and gas companies ...

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/03 21:20
End of Day Share Price2020/08/03 00:00
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.