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Pacific Basin Shipping

SEHK:2343
Snowflake Description

Solid track record and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
2343
SEHK
HK$8B
Market Cap
  1. Home
  2. HK
  3. Transportation
Company description

Pacific Basin Shipping Limited, an investment holding company, provides dry bulk shipping services worldwide. The last earnings update was 37 days ago. More info.


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2343 Share Price and Events
7 Day Returns
1.8%
SEHK:2343
-0.6%
HK Shipping
-0.2%
HK Market
1 Year Returns
-19%
SEHK:2343
-7%
HK Shipping
-3.9%
HK Market
2343 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Pacific Basin Shipping (2343) 1.8% 1.2% 3.1% -19% 23% -64.4%
HK Shipping -0.6% 10.2% 15% -7% 7.6% -0.9%
HK Market -0.2% 1.9% 13% -3.9% 28.2% 20.5%
1 Year Return vs Industry and Market
  • 2343 underperformed the Shipping industry which returned -7% over the past year.
  • 2343 underperformed the Market in Hong Kong which returned -3.9% over the past year.
Price Volatility
2343
Industry
5yr Volatility vs Market

2343 Value

 Is Pacific Basin Shipping 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 Pacific Basin Shipping 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 Pacific Basin Shipping.

SEHK:2343 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.6%
Perpetual Growth Rate 10-Year HK Government Bond Rate 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 SEHK:2343
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.7%
Shipping Unlevered Beta Simply Wall St/ S&P Global 0.7
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.7 (1 + (1- 25%) (97.54%))
1.142
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.14
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.142 * 6.65%)
9.6%

Discounted Cash Flow Calculation for SEHK:2343 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Pacific Basin Shipping 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.

SEHK:2343 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.6%)
2019 -53.00 Analyst x1 -48.36
2020 173.00 Analyst x2 144.03
2021 152.00 Analyst x1 115.46
2022 139.15 Est @ -8.45% 96.45
2023 131.76 Est @ -5.31% 83.33
2024 127.65 Est @ -3.12% 73.66
2025 125.63 Est @ -1.58% 66.14
2026 124.99 Est @ -0.51% 60.04
2027 125.30 Est @ 0.25% 54.92
2028 126.27 Est @ 0.77% 50.50
Present value of next 10 years cash flows $696.17
SEHK:2343 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $126.27 × (1 + 2%) ÷ (9.6% – 2%)
$1,695.92
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $1,695.92 ÷ (1 + 9.6%)10
$678.27
SEHK:2343 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $696.17 + $678.27
$1,374.44
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,374.44 / 4,659.13
$0.29
SEHK:2343 Discount to Share Price
Calculation Result
Exchange Rate USD/HKD
(Reporting currency to currency of SEHK:2343)
7.845
Value per Share
(HKD)
= Value per Share in USD x Exchange Rate (USD/HKD)
= $0.29 x 7.845
HK$2.31
Value per share (HKD) From above. HK$2.31
Current discount Discount to share price of HK$1.66
= -1 x (HK$1.66 - HK$2.31) / HK$2.31
28.3%

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

Current Discount
Amount off the current price Pacific Basin Shipping is available for.
Intrinsic value
28%
Share price is HK$1.66 vs Future cash flow value of HK$2.31
Current Discount Checks
For Pacific Basin Shipping to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Pacific Basin Shipping's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Pacific Basin Shipping'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 Pacific Basin Shipping's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Pacific Basin Shipping's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:2343 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $0.02
SEHK:2343 Share Price ** SEHK (2019-04-18) in HKD HK$1.66
SEHK:2343 Share Price converted to USD reporting currency Exchange rate (HKD/ USD) 0.127 $0.21
Hong Kong Shipping Industry PE Ratio Median Figure of 14 Publicly-Listed Shipping Companies 14x
Hong Kong Market PE Ratio Median Figure of 1,475 Publicly-Listed Companies 11.98x

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

** Primary Listing of Pacific Basin Shipping.

SEHK:2343 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:2343 Share Price ÷ EPS (both in USD)

= 0.21 ÷ 0.02

12.88x

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

  • Pacific Basin Shipping is good value based on earnings compared to the HK Shipping industry average.
  • Pacific Basin Shipping is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Pacific Basin Shipping's expected growth come at a high price?
Raw Data
SEHK:2343 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.88x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
32.5%per year
Hong Kong Shipping Industry PEG Ratio Median Figure of 6 Publicly-Listed Shipping Companies 1.26x
Hong Kong Market PEG Ratio Median Figure of 463 Publicly-Listed Companies 0.87x

*Line of best fit is calculated by linear regression .

SEHK:2343 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.88x ÷ 32.5%

0.4x

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

  • Pacific Basin Shipping is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Pacific Basin Shipping's assets?
Raw Data
SEHK:2343 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $0.27
SEHK:2343 Share Price * SEHK (2019-04-18) in HKD HK$1.66
SEHK:2343 Share Price converted to USD reporting currency Exchange rate (HKD/ USD) 0.127 $0.21
Hong Kong Shipping Industry PB Ratio Median Figure of 15 Publicly-Listed Shipping Companies 0.8x
Hong Kong Market PB Ratio Median Figure of 2,150 Publicly-Listed Companies 1.03x
SEHK:2343 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:2343 Share Price ÷ Book Value per Share (both in USD)

= 0.21 ÷ 0.27

0.78x

* Primary Listing of Pacific Basin Shipping.

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

  • Pacific Basin Shipping is good value based on assets compared to the HK Shipping industry average.
X
Value checks
We assess Pacific Basin Shipping'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 Shipping 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 Shipping industry average (and greater than 0)? (1 check)
  5. Pacific Basin Shipping 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.

2343 Future Performance

 How is Pacific Basin Shipping expected to perform in the next 1 to 3 years based on estimates from 9 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
32.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Pacific Basin Shipping expected to grow at an attractive rate?
  • Pacific Basin Shipping's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Pacific Basin Shipping's earnings growth is expected to exceed the Hong Kong market average.
  • Pacific Basin Shipping's revenue growth is positive but not above the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:2343 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:2343 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 32.5%
SEHK:2343 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 5.7%
Hong Kong Shipping Industry Earnings Growth Rate Market Cap Weighted Average 26.2%
Hong Kong Shipping Industry Revenue Growth Rate Market Cap Weighted Average 9.7%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.7%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 11.3%

*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
SEHK:2343 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:2343 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 1,812 254 143 4
2020-12-31 1,844 247 142 9
2019-12-31 1,638 158 36 9
SEHK:2343 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 1,592 190 72
2018-09-30 1,586 169 59
2018-06-30 1,581 149 46
2018-03-31 1,534 137 25
2017-12-31 1,488 125 4
2017-09-30 1,395 107 -23
2017-06-30 1,302 89 -49
2017-03-31 1,195 69 -68
2016-12-31 1,087 50 -87
2016-09-30 1,101 49 -80
2016-06-30 1,114 48 -74
2016-03-31 1,187 73 -46

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Pacific Basin Shipping's earnings are expected to grow significantly at over 20% yearly.
  • Pacific Basin Shipping's revenue is expected to grow by 5.7% 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
SEHK:2343 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 9 Analyst Estimates (S&P Global) See Below

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

SEHK:2343 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.03 0.04 0.03 3.00
2020-12-31 0.03 0.05 0.02 8.00
2019-12-31 0.02 0.04 0.01 8.00
SEHK:2343 Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 0.02
2018-09-30 0.01
2018-06-30 0.01
2018-03-31 0.01
2017-12-31 0.00
2017-09-30 -0.01
2017-06-30 -0.01
2017-03-31 -0.02
2016-12-31 -0.03
2016-09-30 -0.03
2016-06-30 -0.03
2016-03-31 -0.02

*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.
  • Pacific Basin Shipping is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Pacific Basin Shipping'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 Hong Kong market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong 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.
Pacific Basin Shipping has a total score of 3/6, 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.

2343 Past Performance

  How has Pacific Basin Shipping 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 Pacific Basin Shipping's growth in the last year to its industry (Shipping).
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.
  • Pacific Basin Shipping has delivered over 20% year on year earnings growth in the past 5 years.
  • Pacific Basin Shipping's 1-year earnings growth exceeds its 5-year average (1902.3% vs 44.6%)
  • Pacific Basin Shipping's earnings growth has exceeded the HK Shipping industry average in the past year (1902.3% vs -16%).
Earnings and Revenue History
Pacific Basin Shipping'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 Pacific Basin Shipping Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2343 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 1,591.56 72.28 6.00
2018-09-30 1,586.15 59.31 5.62
2018-06-30 1,580.74 46.33 5.24
2018-03-31 1,534.38 24.97 5.28
2017-12-31 1,488.02 3.61 5.31
2017-09-30 1,394.97 -22.55 5.80
2017-06-30 1,301.92 -48.72 6.28
2017-03-31 1,194.64 -67.63 6.02
2016-12-31 1,087.37 -86.55 5.75
2016-09-30 1,100.74 -80.32 5.77
2016-06-30 1,114.11 -74.09 5.79
2016-03-31 1,187.20 -46.32 5.87
2015-12-31 1,260.29 -18.54 5.95
2015-09-30 1,351.67 -103.67 7.59
2015-06-30 1,443.04 -188.81 9.22
2015-03-31 1,580.75 -234.28 10.03
2014-12-31 1,718.45 -279.74 10.83
2014-09-30 1,785.21 -182.24 11.91
2014-06-30 1,851.97 -84.73 12.99
2014-03-31 1,780.38 -37.44 15.27
2013-12-31 1,708.79 9.86 17.56
2013-09-30 1,613.84 34.48 17.88
2013-06-30 1,518.88 59.11 18.19
2013-03-31 1,480.98 55.67 16.24
2012-12-31 1,443.09 52.22 14.29
2012-06-30 1,393.63 122.15 12.14

*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.
  • Pacific Basin Shipping has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Pacific Basin Shipping used its assets more efficiently than the HK Shipping industry average last year based on Return on Assets.
  • Pacific Basin Shipping 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 Pacific Basin Shipping'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 Shipping 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.
Pacific Basin Shipping has a total score of 5/6, 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.

2343 Health

 How is Pacific Basin Shipping'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 Pacific Basin Shipping's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Pacific Basin Shipping is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Pacific Basin Shipping's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Pacific Basin Shipping'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 0.5x 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 Pacific Basin Shipping Company Filings, last reported 3 months ago.

SEHK:2343 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,231.21 961.66 341.74
2018-09-30 1,231.21 961.66 341.74
2018-06-30 1,195.13 974.17 317.02
2018-03-31 1,195.13 974.17 317.02
2017-12-31 1,161.14 880.97 244.64
2017-09-30 1,161.14 880.97 244.64
2017-06-30 1,029.58 953.11 247.52
2017-03-31 1,029.58 953.11 247.52
2016-12-31 1,040.77 840.04 269.15
2016-09-30 1,040.77 840.04 269.15
2016-06-30 1,067.44 877.93 406.06
2016-03-31 1,067.44 877.93 406.06
2015-12-31 970.94 930.43 358.37
2015-09-30 970.94 930.43 358.37
2015-06-30 994.93 936.23 379.72
2015-03-31 994.93 936.23 379.72
2014-12-31 1,001.75 1,007.69 361.73
2014-09-30 1,001.75 1,007.69 361.73
2014-06-30 1,216.11 985.47 317.81
2014-03-31 1,216.11 985.47 317.81
2013-12-31 1,304.29 1,048.69 483.20
2013-09-30 1,304.29 1,048.69 483.20
2013-06-30 1,296.18 870.29 408.14
2013-03-31 1,296.18 870.29 408.14
2012-12-31 1,332.02 948.57 633.12
2012-06-30 1,259.60 871.27 600.46
  • Pacific Basin Shipping's level of debt (78.1%) 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 (80.4% vs 78.1% today).
  • Debt is not well covered by operating cash flow (19.7%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.4x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Pacific Basin Shipping'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. Pacific Basin Shipping 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.

2343 Dividends

 What is Pacific Basin Shipping'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
4.73%
Current annual income from Pacific Basin Shipping dividends. Estimated to be 5.01% next year.
If you bought HK$2,000 of Pacific Basin Shipping shares you are expected to receive HK$95 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?
  • Pacific Basin Shipping's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (1.95%).
  • Pacific Basin Shipping's dividend is below the markets top 25% of dividend payers in Hong Kong (5.27%).
Upcoming dividend payment

Purchase Pacific Basin Shipping 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
SEHK:2343 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 9 Analyst Estimates (S&P Global) See Below
Hong Kong Shipping Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 2.4%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 965 Stocks 3.4%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.1%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 1.9%
Hong Kong Top 25% Dividend Yield 75th Percentile 5.3%

Industry and Market average data is calculated daily.

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

SEHK:2343 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.01 3.00
2020-12-31 0.01 8.00
2019-12-31 0.01 8.00
SEHK:2343 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-12 0.010 4.670
2019-02-28 0.010 4.694
2018-07-31 0.006 2.882
2016-08-17 0.000 0.000
2016-07-29 0.000 0.000
2016-03-15 0.000 0.000
2016-02-29 0.000 0.000
2015-03-17 0.006 2.150
2015-02-26 0.006 1.702
2014-03-14 0.006 1.182
2014-02-27 0.006 0.939
2013-03-15 0.006 0.957
2013-02-28 0.006 0.983
2012-08-01 0.000 0.000
2012-03-01 0.013 2.715
2011-08-03 0.028 6.200
2011-03-01 0.028 4.682
2010-08-18 0.012 1.738
2010-08-03 0.025 3.465
2010-03-02 0.038 5.268
2009-08-11 0.021 2.757
2009-04-20 0.000 0.000

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 Pacific Basin Shipping's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.3x coverage).
X
Income/ dividend checks
We assess Pacific Basin Shipping's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - 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 Pacific Basin Shipping afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Pacific Basin Shipping 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.

2343 Management

 What is the CEO of Pacific Basin Shipping'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
Mats Berglund
COMPENSATION $2,144,000
AGE 55
TENURE AS CEO 6.8 years
CEO Bio

Mr. Mats Henrik Berglund has been the Chief Executive Officer of Pacific Basin Shipping Ltd. since June 1, 2012. Mr. Berglund is working as a Board of Director at Ardmore Shipping Corp from September 27, 2018. Mr. Berglund served as the Chief Operating Officer and Chief Financial Officer of Chemoil Energy Limited from March 1, 2011 to May 2012. He served as Senior Vice President and Head of International Crude Transportation Strategic Business Unit of Overseas Shipholding Group Inc. from July 11, 2005 to March 2, 2011. He was responsible for OSG's VLCC, Aframax and Panamax tanker operations. He served as Senior Vice President at OSG. Since January 2003, he served as President of Stena Rederi AB and served as its Vice President from 2000 to 2002. From 1997 to 2000, he served as President of StenTex LLC from 1995 to 1996 and it’s Vice President, where he developed a successful first class commercial tanker organization that more than doubled its business under his leadership. From 1991 to 1995, Mr. Berglund served as Vice President and Chief Financial Officer of Concordia Maritime AB. Most recently, he structured and led the successful initial public offering of Arlington Tankers and the listing of its common stock on the New York Stock Exchange, a transaction that has become a trend setter in the shipping industry. He served as Executive Vice President of Stena Rederi from 2002 to 2003 and has served as Financial Manager of Concordia and served from 1995 to 2000 in Stena AB's oil and petroleum products transportation business. He has been Chairman of the Board of Northern Marine Management Ltd. since 2003 and has been employed in the Stena Sphere since 1986. Mr. Berglund has been an Executive Director of Pacific Basin Shipping Ltd. since June 1, 2012. He served as a Director of Stena Bulk AB since 2001. He served as a Director of OSG subsidiaries & UVs; Panamax International Shipping Co. & Pool; Chemoil subsidiaries and affiliates; Suezmax International Shipping Co & Pool and Aframax International Shipping Co & Pool. He graduated in 1986 with a master’s degree in Business and Finance from the University of Gothenburg, Sweden and also attended the Advanced Management Program from Harvard in 2000.

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

Average tenure and age of the Pacific Basin Shipping management team in years:

4.5
Average Tenure
61
Average Age
  • The tenure for the Pacific Basin Shipping management team is about average.
Management Team

David Turnbull

TITLE
Executive Chairman
COMPENSATION
$723K
AGE
63
TENURE
11.3 yrs

Mats Berglund

TITLE
CEO & Executive Director
COMPENSATION
$2M
AGE
55
TENURE
6.8 yrs

Peter Schulz

TITLE
CFO & Executive Director
COMPENSATION
$1M
AGE
45
TENURE
1.7 yrs

Suresh Prabhakar

TITLE
Director of Operations
AGE
61

P. Subbiah

TITLE
Director of Human Resources & Administration

Emily Lau

TITLE
General Manager of Investor Relations
TENURE
2.3 yrs

Vivien Shum

TITLE
Director of Insurance & Legal

Daigoro Oyama

TITLE
Director of Sale & Purchase
TENURE
2.3 yrs

Vergara Hernan

TITLE
Chief Engineer Columbia River

Ben Lee

TITLE
President of Pacific Basin Shipping Consulting Ltd - Shanghai
AGE
63
TENURE
14.6 yrs
Board of Directors Tenure

Average tenure and age of the Pacific Basin Shipping board of directors in years:

11.3
Average Tenure
63
Average Age
  • The average tenure for the Pacific Basin Shipping board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Mats Berglund

TITLE
CEO & Executive Director
COMPENSATION
$2M
AGE
55
TENURE
6.8 yrs

Peter Schulz

TITLE
CFO & Executive Director
COMPENSATION
$1M
AGE
45
TENURE
0.8 yrs

Robert Charles Nicholson

TITLE
Independent Non-Executive Director
COMPENSATION
$96K
AGE
63
TENURE
15.1 yrs

David Turnbull

TITLE
Executive Chairman
COMPENSATION
$723K
AGE
63
TENURE
11.3 yrs

Patrick Blackwell Paul

TITLE
Independent Non-Executive Director
COMPENSATION
$102K
AGE
71
TENURE
15.1 yrs

Daniel Bradshaw

TITLE
Independent Non-Executive Director
COMPENSATION
$89K
AGE
71
TENURE
13 yrs

Alasdair George Morrison

TITLE
Independent Non-Executive Director
COMPENSATION
$89K
AGE
70
TENURE
11.3 yrs

Irene Basili

TITLE
Independent Non-Executive Director
COMPENSATION
$95K
AGE
51
TENURE
4.9 yrs

Stan Ryan

TITLE
Independent Non-Executive Director
COMPENSATION
$100K
AGE
57
TENURE
2.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
17. Apr 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 12. Apr 19 12. Apr 19 -1,062,093 HK$1.68 HK$-1,783,152
17. Apr 19 Sell J.P. Morgan Asset Management, Inc. Company 12. Apr 19 12. Apr 19 -32,523,042 HK$1.68 HK$-54,603,063
16. Apr 19 Buy J.P. Morgan Asset Management, Inc. Company 11. Apr 19 11. Apr 19 32,669,915 HK$1.63 HK$53,307,388
02. Apr 19 Buy Invesco Ltd. Company 28. Mar 19 28. Mar 19 3,986,000 HK$1.68 HK$6,682,522
15. Mar 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 12. Mar 19 12. Mar 19 -398,752 HK$1.65 HK$-657,821
01. Mar 19 Buy J.P. Morgan Asset Management, Inc. Company 26. Feb 19 26. Feb 19 2,305,200 HK$1.76 HK$4,046,325
28. Feb 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 25. Feb 19 25. Feb 19 -1,291,295 HK$1.80 HK$-2,319,038
18. Feb 19 Sell Standard Life Aberdeen plc Company 15. Feb 19 15. Feb 19 -3,500,000 HK$1.62 HK$-5,669,988
14. Feb 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 12. Feb 19 12. Feb 19 4,202,074 HK$1.59 HK$6,668,688
31. Jan 19 Buy Standard Life Aberdeen plc Company 30. Jan 19 30. Jan 19 3,000,000 HK$1.49 HK$4,469,990
16. Jan 19 Sell Standard Life Aberdeen plc Company 15. Jan 19 15. Jan 19 -2,700,000 HK$1.53 HK$-4,130,997
15. Jan 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 10. Jan 19 10. Jan 19 -4,104,239 HK$1.54 HK$-6,337,340
24. Dec 18 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 20. Dec 18 20. Dec 18 90,938,335 HK$1.61 HK$146,592,422
26. Dec 18 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 21. Dec 18 21. Dec 18 -125,608,035 HK$1.56 HK$-196,337,529
14. Dec 18 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 12. Dec 18 12. Dec 18 7,121,177 HK$1.75 HK$12,450,646
07. Dec 18 Sell Mats Berglund Individual 05. Dec 18 05. Dec 18 -1,000,000 HK$1.85 HK$-1,850,001
30. Oct 18 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 25. Oct 18 25. Oct 18 76,000 HK$1.71 HK$130,309
06. Nov 18 Sell Standard Life Aberdeen plc Company 02. Nov 18 02. Nov 18 -9,445,000 HK$1.87 HK$-17,662,171
31. Oct 18 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 26. Oct 18 26. Oct 18 -661,000 HK$1.72 HK$-1,134,869
25. Oct 18 Buy J.P. Morgan Asset Management, Inc. Company 22. Oct 18 22. Oct 18 3,324,000 HK$1.78 HK$5,900,763
11. Oct 18 Sell Standard Life Aberdeen plc Company 10. Oct 18 10. Oct 18 -1,341,000 HK$1.86 HK$-2,494,257
08. Oct 18 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 03. Oct 18 03. Oct 18 -31,889,389 HK$1.94 HK$-61,728,279
05. Oct 18 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 02. Oct 18 02. Oct 18 31,503,785 HK$1.85 HK$58,420,628
02. Oct 18 Sell Standard Life Aberdeen plc Company 28. Sep 18 28. Sep 18 -11,867,000 HK$1.86 HK$-22,071,451
20. Sep 18 Sell J.P. Morgan Asset Management, Inc. Company 17. Sep 18 17. Sep 18 -1,687,700 HK$1.82 HK$-3,063,518
14. Sep 18 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 11. Sep 18 11. Sep 18 -4,669,507 HK$1.63 HK$-7,634,170
13. Sep 18 Buy J.P. Morgan Asset Management, Inc. Company 10. Sep 18 10. Sep 18 5,567,000 HK$1.68 HK$9,326,403
31. May 18 Sell Standard Life Aberdeen plc Company 30. May 18 30. May 18 -6,552,000 HK$1.96 HK$-12,818,314
05. Jul 18 Buy Standard Life Aberdeen plc Company 04. Jul 18 04. Jul 18 1,476,000 HK$2.11 HK$3,108,305
01. Jun 18 Sell Standard Life Aberdeen plc Company 31. May 18 31. May 18 -5,869,000 HK$2.05 HK$-12,019,115
21. Jun 18 Sell Standard Life Aberdeen plc Company 20. Jun 18 20. Jun 18 -19,907,000 HK$2.17 HK$-43,279,873
25. Jun 18 Sell Standard Life Aberdeen plc Company 22. Jun 18 22. Jun 18 -5,000,000 HK$2.20 HK$-10,999,994
28. Aug 18 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 13. Aug 18 13. Aug 18 -30,134,400 HK$1.96 HK$-59,003,044
15. Aug 18 Buy J.P. Morgan Asset Management, Inc. Company 10. Aug 18 10. Aug 18 25,059,964 HK$2.08 HK$52,117,143
30. Jul 18 Buy J.P. Morgan Asset Management, Inc. Company 25. Jul 18 25. Jul 18 1,419,000 HK$2.26 HK$3,201,264
31. Jul 18 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 26. Jul 18 26. Jul 18 -1,254,912 HK$2.25 HK$-2,829,578
26. Jul 18 Sell J.P. Morgan Asset Management, Inc. Company 23. Jul 18 23. Jul 18 -3,542,657 HK$2.12 HK$-7,514,324
X
Management checks
We assess Pacific Basin Shipping'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. Pacific Basin Shipping 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.

2343 News

Simply Wall St News

How Many Pacific Basin Shipping Limited (HKG:2343) Shares Have Insiders Sold, In The Last Year?

So we'll take a look at whether insiders have been buying or selling shares in Pacific Basin Shipping Limited (HKG:2343). … The Last 12 Months Of Insider Transactions At Pacific Basin Shipping. … Over the last year, we can see that the biggest insider sale was by the CEO & Executive Director, Mats Berglund, for HK$1.9m worth of shares, at about HK$1.85 per share.

Simply Wall St -

Is Pacific Basin Shipping Limited (HKG:2343) Undervalued After Accounting For Its Future Growth?

Growth expectations for Pacific Basin Shipping Limited (HKG:2343) are high, but many investors are starting to ask whether its last close at HK$1.75 can still be rationalized by the future potential. … View our latest analysis for Pacific Basin Shipping? … If you are bullish about Pacific Basin Shipping's growth potential then you are certainly not alone

Simply Wall St -

Are Pacific Basin Shipping Limited's (HKG:2343) Interest Costs Too High?

While small-cap stocks, such as Pacific Basin Shipping Limited (HKG:2343) with its market cap of HK$8.0b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … Assessing first and foremost the financial health is. … Let's work through some financial health checks you may wish to consider if you're interested in this stock.

Simply Wall St -

The Pacific Basin Shipping Share Price Is Down 66% So Some Shareholders Are Wishing They Sold

Pacific Basin Shipping Limited (HKG:2343) shareholders should be happy to see the share price up 16% in the last month. … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … That would generally be considered a positive, so we are surprised to see the share price is down.

Simply Wall St -

Is Pacific Basin Shipping Limited's (HKG:2343) CEO Being Overpaid?

Mats Berglund has been the CEO of Pacific Basin Shipping Limited (HKG:2343) since 2012. … First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Mats Berglund's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Should You Care About Pacific Basin Shipping Limited’s (HKG:2343) Investment Potential?

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Understanding Return On Capital Employed (ROCE). … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Is Now An Opportune Moment To Examine Pacific Basin Shipping Limited (HKG:2343)?

Pacific Basin Shipping Limited (HKG:2343), which is in the shipping business, and is based in Hong Kong,. … A question to answer is whether Pacific Basin Shipping's current trading price of HK$1.5 reflective of the actual value of the? … Let’s take a look at Pacific Basin Shipping’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Does Pacific Basin Shipping Limited (HKG:2343) Have A High Beta?

Volatility is considered to be a measure of risk in modern finance theory. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … While we should keep in mind that Warren Buffett has cautioned that 'Volatility is far from synonymous with risk', beta is still a useful factor to consider.

Simply Wall St -

Can We See Significant Institutional Ownership On The Pacific Basin Shipping Limited (HKG:2343) Share Register?

Every investor in Pacific Basin Shipping Limited (HKG:2343) should be aware of the most powerful shareholder groups. … Generally speaking, as a company grows, institutions will increase their ownership. … Pacific Basin Shipping isn't enormous, but it's not particularly small either.

Simply Wall St -

What Investors Should Know About Pacific Basin Shipping Limited's (HKG:2343) Financial Strength

While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … Assessing first and foremost the financial health is. … Here are a few basic checks that are good enough to have a broad overview of the company’s financial strength.

Simply Wall St -

2343 Company Info

Description

Pacific Basin Shipping Limited, an investment holding company, provides dry bulk shipping services worldwide. As of February 28, 2019, the company had a fleet of 217 ships, including 132 Handysize vessels, 83 Supramax vessels, and 2 Post Panamax vessels. It also offers ocean shipping services, shipping consulting and ship agency, crewing, secretarial, and agency and ship management services, as well as issues convertible bonds. Pacific Basin Shipping Limited was founded in 1987 and is headquartered in Wong Chuk Hang, Hong Kong.

Details
Name: Pacific Basin Shipping Limited
2343
Exchange: SEHK
Founded: 1987
HK$7,734,147,896
4,659,125,239
Website: http://www.pacificbasin.com
Address: Pacific Basin Shipping Limited
One Island South,
31st Floor,
Wong Chuk Hang,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 2343 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 14. Jul 2004
OTCPK PCFB.F Ordinary Shares Pink Sheets LLC US USD 14. Jul 2004
DB OYD Ordinary Shares Deutsche Boerse AG DE EUR 14. Jul 2004
SHSC 2343 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 14. Jul 2004
SZSC 2343 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 14. Jul 2004
OTCPK PCFB.Y UNSPONSORED ADR Pink Sheets LLC US USD 11. Nov 2008
Number of employees
Current staff
Staff numbers
4,136
Pacific Basin Shipping employees.
Industry
Marine
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 12:31
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/14
Last earnings filing: 2019/03/12
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.