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Gram Car Carriers (G39) Stock Overview

Through its subsidiaries, operates as a tonnage supplier in Asia, Europe, and internationally. More details

G39 fundamental analysis
Snowflake Score
Valuation	5/6
Future Growth	1/6
Past Performance	6/6
Financial Health	2/6
Dividends	4/6

Rewards

Trading at 78.6% below our estimate of its fair value

Earnings grew by 221.2% over the past year

Trading at good value compared to peers and industry

Risk Analysis

Earnings are forecast to decline by an average of 0.5% per year for the next 3 years

Has a high level of debt

Unstable dividend track record

G39 Community Fair Values

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Gram Car Carriers ASA Competitors

Price History & Performance

Summary of share price highs, lows and changes for Gram Car Carriers
Historical stock prices
Current Share Price	NOK 21.70
52 Week High	NOK 23.15
52 Week Low	NOK 13.80
Beta	-0.91
1 Month Change	-4.19%
3 Month Change	-0.23%
1 Year Change	43.71%
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	278.71%

Recent updates

Shareholder Returns

	G39	DE Shipping	DE Market
7D	0%	0.3%	-0.6%
1Y	43.7%	36.7%	4.9%

Return vs Industry: G39 exceeded the German Shipping industry which returned -10.5% over the past year.

Return vs Market: G39 exceeded the German Market which returned -3.1% over the past year.

Price Volatility

Is G39's price volatile compared to industry and market?
G39 volatility
G39 Average Weekly Movement	3.5%
Shipping Industry Average Movement	5.0%
Market Average Movement	4.9%
10% most volatile stocks in DE Market	11.8%
10% least volatile stocks in DE Market	2.5%

Stable Share Price: G39 has not had significant price volatility in the past 3 months.

Volatility Over Time: G39's weekly volatility (4%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1982	18	Georg Whist	gramcar.com

Gram Car Carriers ASA, through its subsidiaries, operates as a tonnage supplier in Asia, Europe, and internationally. The company invests in and operates maritime assets in the pure car and truck carrier shipping segment. It also offers commercial management services for the 18 owned carriers and 4 vessels managed by third party owners.

Gram Car Carriers ASA Fundamentals Summary

How do Gram Car Carriers's earnings and revenue compare to its market cap?
G39 fundamental statistics
Market cap	€630.88m
Earnings (TTM)	€102.82m
Revenue (TTM)	€196.78m

6.1x

P/E Ratio

3.2x

P/S Ratio

Is G39 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
G39 income statement (TTM)
Revenue	US$214.64m
Cost of Revenue	US$48.14m
Gross Profit	US$166.50m
Other Expenses	US$54.35m
Earnings	US$112.15m

Last Reported Earnings

Mar 31, 2024

Next Earnings Date

Aug 20, 2024

Earnings per share (EPS)	3.87
Gross Margin	77.57%
Net Profit Margin	52.25%
Debt/Equity Ratio	89.7%

How did G39 perform over the long term?

See historical performance and comparison

Dividends

16.5%

Current Dividend Yield

76%

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/08/06 12:50
End of Day Share Price	2024/08/06 00:00
Earnings	2024/03/31
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Gram Car Carriers ASA is covered by 3 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Peder Jarlsby	Fearnley Securities
Erik Hovi	Nordea Markets
Eirik Haavaldsen	Pareto Securities

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Gram Car Carriers (G39) Stock Overview

Rewards

Risk Analysis

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Gram Car Carriers ASA Competitors

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Price History & Performance

Recent News & Updates

SAS Shipping Agencies Services SÀRL completed the acquisition of Gram Car Carriers ASA (OB : GCC) from Al Maritime Holding Pte Ltd., F. Laeisz GmbH, Glenrinnes Farms Ltd., HM Gram Enterprises Limited, HM Gram Investments III Limited and others.

First quarter 2024 earnings released: EPS: US$1.08 (vs US$0.45 in 1Q 2023)

New minor risk - Share price stability

Investor sentiment improves as stock rises 27%

Gram Car Carriers Announces Cash Dividend, Payable on or About 2 May 2024

Gram Car Carriers ASA Approves Dividend for the Fourth Quarter of 2023

Recent updates

SAS Shipping Agencies Services SÀRL completed the acquisition of Gram Car Carriers ASA (OB : GCC) from Al Maritime Holding Pte Ltd., F. Laeisz GmbH, Glenrinnes Farms Ltd., HM Gram Enterprises Limited, HM Gram Investments III Limited and others.

First quarter 2024 earnings released: EPS: US$1.08 (vs US$0.45 in 1Q 2023)

New minor risk - Share price stability

Investor sentiment improves as stock rises 27%

Gram Car Carriers Announces Cash Dividend, Payable on or About 2 May 2024

Gram Car Carriers ASA Approves Dividend for the Fourth Quarter of 2023

Gram Car Carriers ASA, Annual General Meeting, May 15, 2024

Third quarter 2023 earnings released: EPS: US$0.86 (vs US$0.23 in 3Q 2022)

Gram Car Carriers ASA Approves Cash Dividend for the Third Quarter of 2023

Gram Car Carriers ASA Proposes Quarterly Cash Dividend, Payable on or About 10 November 2023

New minor risk - Share price stability

Gram Car Carriers ASA to Report Q4, 2023 Results on Feb 08, 2024

Gram Car Carriers ASA acquired a 21.6% stake in Gram Car As for $6.1 million.

Gram Car Carriers ASA Announces Cash Dividend, Payable on or About 22 August 2023

Gram Car Carriers ASA Announces Cash Dividend

No independent directors

Gram Car Carriers ASA (OB:GCC) announces an Equity Buyback for 300,000 shares, for NOK 60 million.

Investor sentiment improves as stock rises 22%

Upcoming dividend of US$0.17 per share at 4.6% yield

Chief Financial Officer recently bought €82k worth of stock

No independent directors

Chief Financial Officer recently bought €82k worth of stock

Gram Car Carriers ASA Proposes Cash Dividend for the Fourth Quarter of 2022

Gram Car Carriers ASA to Report Q4, 2022 Results on Feb 09, 2023

Gram Car Carriers ASA to Report First Half, 2023 Results on Aug 15, 2023

No independent directors

Gram Car Carriers Asa Proposes Cash Dividend for Third Quarter of 2022, Payable on or About 21 November 2022

Investor sentiment improved over the past week

Vice Chairman of the Board recently bought €74k worth of stock

Gram Car Carriers ASA Proposes Distribution of Cash Dividend, Payable on or About September 9, 2022

Inaugural dividend of US$0.093 per share

Gram Car Carriers Asa Proposes Initial Cash Dividend for the Second Quarter of 2022

Gram Car Carriers ASA Proposes Final Cash Dividend Distribution, Payable on or About 9 June 2022

No independent directors

Gram Car Carriers ASA Proposes Initial Cash Dividend for the First Quarter of 2022

Gram Car Carriers ASA to Report First Half, 2022 Results on Aug 19, 2022

No independent directors

Shareholder Returns

Price Volatility

About the Company

Gram Car Carriers ASA Fundamentals Summary

Earnings & Revenue

Dividends

Company Analysis and Financial Data Status

Data Sources

Analysis Model and Snowflake

Industry and Sector Metrics

Analyst Sources