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TSM1

AS Tallinna Sadam TLSE:TSM1T Stock Report

Last Price

€1.46

Market Cap

€369.8m

7D

4.6%

1Y

-24.4%

Updated

10 Aug, 2022

Data

Company Financials +
TSM1T fundamental analysis
Snowflake Score
Valuation1/6
Future Growth0/6
Past Performance2/6
Financial Health4/6
Dividends2/6

TSM1T Stock Overview

AS Tallinna Sadam provides port services as a landlord type of port in the Republic of Estonia.

AS Tallinna Sadam Competitors

Price History & Performance

Summary of all time highs, changes and price drops for AS Tallinna Sadam
Historical stock prices
Current Share Price€1.46
52 Week High€1.98
52 Week Low€1.39
Beta0.51
1 Month Change3.84%
3 Month Change-5.20%
1 Year Change-24.35%
3 Year Change-26.08%
5 Year Changen/a
Change since IPO-24.27%

Recent News & Updates

Shareholder Returns

TSM1TEE InfrastructureEE Market
7D4.6%2.4%3.8%
1Y-24.4%12.0%-12.5%

Return vs Industry: TSM1T underperformed the EE Infrastructure industry which returned 12% over the past year.

Return vs Market: TSM1T underperformed the EE Market which returned -12.5% over the past year.

Price Volatility

Is TSM1T's price volatile compared to industry and market?
TSM1T volatility
TSM1T Average Weekly Movement1.3%
Infrastructure Industry Average Movement3.9%
Market Average Movement2.8%
10% most volatile stocks in EE Market4.6%
10% least volatile stocks in EE Market1.8%

Stable Share Price: TSM1T is less volatile than 75% of EE stocks over the past 3 months, typically moving +/- 1% a week.

Volatility Over Time: TSM1T's weekly volatility (1%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1996458Valdo Kalmhttps://www.ts.ee

AS Tallinna Sadam provides port services as a landlord type of port in the Republic of Estonia. The company operates through Passenger Harbours, Cargo Harbours, Ferry, and Other segments. It owns, administers, and develops berths, port basins, and the surrounding areas; ensures safe navigation in port waters; and organizes vessel traffic in port basins, as well as leases land to cargo operators.

AS Tallinna Sadam Fundamentals Summary

How do AS Tallinna Sadam's earnings and revenue compare to its market cap?
TSM1T fundamental statistics
Market Cap€369.78m
Earnings (TTM)€25.96m
Revenue (TTM)€111.83m

14.8x

P/E Ratio

3.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
TSM1T income statement (TTM)
Revenue€111.83m
Cost of Revenue€55.45m
Gross Profit€56.38m
Other Expenses€30.42m
Earnings€25.96m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Aug 10, 2022

Earnings per share (EPS)0.099
Gross Margin50.41%
Net Profit Margin23.21%
Debt/Equity Ratio51.6%

How did TSM1T perform over the long term?

See historical performance and comparison

Dividends

6.6%

Current Dividend Yield

98%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is TSM1T undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for TSM1T?

Other financial metrics that can be useful for relative valuation.

TSM1T key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue4.8x
Enterprise Value/EBITDA10.2x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does TSM1T's PE Ratio compare to its peers?

TSM1T PE Ratio vs Peers
The above table shows the PE ratio for TSM1T vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average20.5x
OCN Ocean Wilsons Holdings
6.1x0.9%UK£316.5m
NPH Napier Port Holdings
29.7x14.1%NZ$639.9m
LKPG Luka Koper d.d
8.8xn/a€347.2m
GND Grindrod
38.7xn/aR6.8b
TSM1T AS Tallinna Sadam
14.8xn/a€369.8m

Price-To-Earnings vs Peers: TSM1T is good value based on its Price-To-Earnings Ratio (14.8x) compared to the peer average (20.5x).


Price to Earnings Ratio vs Industry

How does TSM1T's PE Ratio compare vs other companies in the European Infrastructure Industry?

Price-To-Earnings vs Industry: TSM1T is expensive based on its Price-To-Earnings Ratio (14.8x) compared to the European Infrastructure industry average (12.7x)


Price to Earnings Ratio vs Fair Ratio

What is TSM1T's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

TSM1T PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.8x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate TSM1T's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of TSM1T when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: TSM1T (€1.46) is trading above our estimate of fair value (€1.16)

Significantly Below Fair Value: TSM1T is trading above our estimate of fair value.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is AS Tallinna Sadam forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


4.3%

Forecasted annual revenue growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if TSM1T's forecast earnings growth is above the savings rate (1.1%).

Earnings vs Market: Insufficient data to determine if TSM1T's earnings are forecast to grow faster than the EE market

High Growth Earnings: Insufficient data to determine if TSM1T's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: TSM1T's revenue (4.3% per year) is forecast to grow slower than the EE market (12.2% per year).

High Growth Revenue: TSM1T's revenue (4.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TSM1T's Return on Equity is forecast to be low in 3 years time (8.1%).


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Past Performance

How has AS Tallinna Sadam performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-0.8%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: TSM1T has high quality earnings.

Growing Profit Margin: TSM1T's current net profit margins (23.2%) are lower than last year (24.3%).


Past Earnings Growth Analysis

Earnings Trend: TSM1T's earnings have declined by 0.8% per year over the past 5 years.

Accelerating Growth: TSM1T's earnings growth over the past year (2.3%) exceeds its 5-year average (-0.8% per year).

Earnings vs Industry: TSM1T earnings growth over the past year (2.3%) underperformed the Infrastructure industry 46.9%.


Return on Equity

High ROE: TSM1T's Return on Equity (6.7%) is considered low.


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Financial Health

How is AS Tallinna Sadam's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: TSM1T's short term assets (€56.5M) exceed its short term liabilities (€31.8M).

Long Term Liabilities: TSM1T's short term assets (€56.5M) do not cover its long term liabilities (€215.4M).


Debt to Equity History and Analysis

Debt Level: TSM1T's net debt to equity ratio (41%) is considered high.

Reducing Debt: TSM1T's debt to equity ratio has reduced from 67% to 51.6% over the past 5 years.

Debt Coverage: TSM1T's debt is well covered by operating cash flow (25%).

Interest Coverage: TSM1T's interest payments on its debt are well covered by EBIT (24.2x coverage).


Balance Sheet


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Dividend

What is AS Tallinna Sadam current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


6.64%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: TSM1T's dividend (6.64%) is higher than the bottom 25% of dividend payers in the EE market (1.77%).

High Dividend: TSM1T's dividend (6.64%) is low compared to the top 25% of dividend payers in the EE market (6.88%).


Stability and Growth of Payments

Stable Dividend: TSM1T has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: TSM1T has only been paying a dividend for 3 years, and since then payments have fallen.


Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (98.3%), TSM1T's dividend payments are not well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (74.3%), TSM1T's dividend payments are covered by cash flows.


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Management

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

5.8yrs

Average management tenure


CEO

Valdo Kalm (56 yo)

6.42yrs

Tenure

€195,000

Compensation

Mr. Valdo Kalm serves as Member of Supervisory Board at Ts Shipping Ou. He has been the Chairman of the Management Board at AS Tallinna Sadam (formerly known as Tallinna Sadam AS) since March 1, 2016 and s...


CEO Compensation Analysis

Compensation vs Market: Valdo's total compensation ($USD199.45K) is below average for companies of similar size in the EE market ($USD792.68K).

Compensation vs Earnings: Valdo's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: TSM1T's management team is seasoned and experienced (5.8 years average tenure).


Board Members

Experienced Board: TSM1T's board of directors are not considered experienced ( 0.6 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

AS Tallinna Sadam's employee growth, exchange listings and data sources


Key Information

  • Name: AS Tallinna Sadam
  • Ticker: TSM1T
  • Exchange: TLSE
  • Founded: 1996
  • Industry: Marine Ports and Services
  • Sector: Transportation
  • Implied Market Cap: €369.778m
  • Shares outstanding: 263.00m
  • Website: https://www.ts.ee

Number of Employees


Location

  • AS Tallinna Sadam
  • Sadama 25
  • Tallinn
  • 15051
  • Estonia

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/10 00:00
End of Day Share Price2022/08/10 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


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.