Tamar Petroleum (TASE:TMRP) - Share price, News & Analysis

TMRP fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	0/6
Past Performance	1/6
Financial Health	2/6
Dividends	3/6

TMRP Stock Overview

Tamar Petroleum Ltd engages in the exploration and production of natural gas in Israel.

Rewards

Trading at 80.6% below our estimate of its fair value

Risk Analysis

Earnings have declined by 10% per year over past 5 years

Interest payments are not well covered by earnings

Unstable dividend track record

Profit margins (23.1%) are lower than last year (35.2%)

Tamar Petroleum Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Tamar Petroleum
Historical stock prices
Current Share Price	₪9.50
52 Week High	₪10.72
52 Week Low	₪4.15
Beta	1.36
1 Month Change	6.61%
3 Month Change	8.57%
1 Year Change	99.50%
3 Year Change	-12.41%
5 Year Change	n/a
Change since IPO	-57.95%

Recent News & Updates

Jun 03

Tamar Petroleum's (TLV:TMRP) Soft Earnings Don't Show The Whole Picture

The market shrugged off the recent earnings report from Tamar Petroleum Ltd ( TLV:TMRP ), despite the profit numbers...

Mar 14

Tamar Petroleum (TLV:TMRP) Might Be Having Difficulty Using Its Capital Effectively

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. In a perfect...

Shareholder Returns

	TMRP	IL Oil and Gas	IL Market
7D	-5.8%	-8.3%	4.0%
1Y	99.5%	41.3%	7.1%

Return vs Industry: TMRP exceeded the IL Oil and Gas industry which returned 41.3% over the past year.

Return vs Market: TMRP exceeded the IL Market which returned 7.1% over the past year.

Price Volatility

Is TMRP's price volatile compared to industry and market?
TMRP volatility
TMRP Average Weekly Movement	5.8%
Oil and Gas Industry Average Movement	6.1%
Market Average Movement	5.6%
10% most volatile stocks in IL Market	8.8%
10% least volatile stocks in IL Market	3.7%

Stable Share Price: TMRP is not significantly more volatile than the rest of IL stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: TMRP's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2015	8	Oiknine Eran	https://www.tamarpetroleum.co.il

Tamar Petroleum Ltd engages in the exploration and production of natural gas in Israel. It has 16.75% interest rights in the Tamar and Dalit reservoirs located in west of Haifa. The company supplies natural gas to the State of Israel, private electricity producers, industrial customers, and natural gas marketing firms, as well as exports to Jordan, Egypt, Italy, Cyprus, and Greece.

Tamar Petroleum Fundamentals Summary

How do Tamar Petroleum's earnings and revenue compare to its market cap?
TMRP fundamental statistics
Market Cap	US$243.57m
Earnings (TTM)	US$51.43m
Revenue (TTM)	US$222.53m

4.7x

P/E Ratio

1.1x

P/S Ratio

Is TMRP overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
TMRP income statement (TTM)
Revenue	US$222.53m
Cost of Revenue	US$25.32m
Gross Profit	US$197.21m
Other Expenses	US$145.78m
Earnings	US$51.43m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	0.58
Gross Margin	88.62%
Net Profit Margin	23.11%
Debt/Equity Ratio	233.9%

How did TMRP perform over the long term?

See historical performance and comparison

Dividends

4.9%

Current Dividend Yield

23%

Payout Ratio

We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

4/6

Valuation Score 4/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for TMRP. This is calculated by dividing TMRP's market cap by their current preferred multiple.
What is TMRP's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	US$243.57m

TMRP 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/Revenue	4.1x
Enterprise Value/EBITDA	6.2x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

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

TMRP PE Ratio vs Peers

The above table shows the PE ratio for TMRP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	6x

Forward PE

Price-To-Earnings vs Peers: TMRP is good value based on its Price-To-Earnings Ratio (4.7x) compared to the peer average (6x).

Price to Earnings Ratio vs Industry

How does TMRP's PE Ratio compare vs other companies in the Oil and Gas Industry?

Price-To-Earnings vs Industry: TMRP is good value based on its Price-To-Earnings Ratio (4.7x) compared to the IL Oil and Gas industry average (9x)

Price to Earnings Ratio vs Fair Ratio

What is TMRP'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.

TMRP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	4.7x
Fair PE Ratio	n/a

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

Share Price vs Fair Value

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

Below Fair Value: TMRP (₪9.5) is trading below our estimate of fair value (₪48.89)

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

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate TMRP's PEG Ratio to determine if it is good value.

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Future Growth

How is Tamar Petroleum forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

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

-3.0%

Forecasted Energy industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Tamar Petroleum has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

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Examine whether Tamar Petroleum is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.

Past Performance

How has Tamar Petroleum performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-10.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: TMRP has high quality earnings.

Growing Profit Margin: TMRP's current net profit margins (23.1%) are lower than last year (35.2%).

Past Earnings Growth Analysis

Earnings Trend: TMRP's earnings have declined by 10% per year over the past 5 years.

Accelerating Growth: TMRP's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: TMRP had negative earnings growth (-26.5%) over the past year, making it difficult to compare to the Oil and Gas industry average (15.4%).

Return on Equity

High ROE: TMRP's Return on Equity (14.5%) is considered low.

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Financial Health

How is Tamar Petroleum's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: TMRP's short term assets ($154.4M) exceed its short term liabilities ($124.1M).

Long Term Liabilities: TMRP's short term assets ($154.4M) do not cover its long term liabilities ($805.2M).

Debt to Equity History and Analysis

Debt Level: TMRP's net debt to equity ratio (203.3%) is considered high.

Reducing Debt: Insufficient data to determine if TMRP's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: TMRP's debt is well covered by operating cash flow (20.5%).

Interest Coverage: TMRP's interest payments on its debt are not well covered by EBIT (2.2x coverage).

Balance Sheet

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Dividend

What is Tamar Petroleum 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
Future Dividend Coverage

4.93%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: TMRP's dividend (4.93%) is higher than the bottom 25% of dividend payers in the IL market (2.06%).

High Dividend: TMRP's dividend (4.93%) is low compared to the top 25% of dividend payers in the IL market (6.24%).

Stability and Growth of Payments

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

Growing Dividend: TMRP has only been paying a dividend for 4 years, and since then payments have fallen.

Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (23.3%), TMRP's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (7.2%), TMRP's dividend payments are thoroughly covered by cash flows.

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Management

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

4.8yrs

Average board tenure

CEO

Oiknine Eran

no data

Tenure

Mr. Oiknine Eran is Chief Executive Officer of Tamar Petroleum Ltd from June 2022. Mr. Vaknin is an accountant by training and holds a BA in accounting and economics and an MBA, both from Tel Aviv Universi...

Board Members

Experienced Board: TMRP's board of directors are considered experienced (4.8 years average tenure).

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.

Data	Last Updated (UTC time)
Company Analysis	2022/06/24 00:00
End of Day Share Price	2022/06/23 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31