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BOKA

Royal Boskalis Westminster ENXTAM:BOKA Stock Report

Last Price

€32.00

Market Cap

€4.1b

7D

0.06%

1Y

14.6%

Updated

26 Jun, 2022

Data

Company Financials +
BOKA fundamental analysis
Snowflake Score
Valuation3/6
Future Growth2/6
Past Performance3/6
Financial Health5/6
Dividends0/6

BOKA Stock Overview

Royal Boskalis Westminster N.V. provides dredging, offshore energy, and maritime services worldwide.

Rewards

Trading at 44.3% below our estimate of its fair value

Earnings are forecast to grow 12.52% per year

Became profitable this year

Risk Analysis

No risks detected for BOKA from our risk checks.

Royal Boskalis Westminster Competitors

 

 

 

 

 

 

 

 

 

 

 

 

Price History & Performance

Summary of all time highs, changes and price drops for Royal Boskalis Westminster
Historical stock prices
Current Share Price€32.00
52 Week High€33.56
52 Week Low€22.50
Beta1.09
1 Month Change-1.84%
3 Month Change-1.66%
1 Year Change14.61%
3 Year Change57.56%
5 Year Change12.54%
Change since IPO816.61%

Recent News & Updates

Shareholder Returns

BOKANL ConstructionNL Market
7D0.06%0.03%4.3%
1Y14.6%5.7%-21.3%

Return vs Industry: BOKA exceeded the Dutch Construction industry which returned 5.7% over the past year.

Return vs Market: BOKA exceeded the Dutch Market which returned -21.3% over the past year.

Price Volatility

Is BOKA's price volatile compared to industry and market?
BOKA volatility
BOKA Average Weekly Movement0.9%
Construction Industry Average Movement4.9%
Market Average Movement5.2%
10% most volatile stocks in NL Market8.0%
10% least volatile stocks in NL Market3.0%

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

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

About the Company

FoundedEmployeesCEOWebsite
19107,872Peter A. Berdowskihttps://www.boskalis.com

Royal Boskalis Westminster N.V. provides dredging, offshore energy, and maritime services worldwide. Its Dredging & Inland Infra segment constructs and maintains ports and waterways; and provides land reclamation, coastal defense, riverbank protection, and underwater rock fragmentation services. This segment also extracts raw materials; designs, prepares, and executes civil infra works, including the construction of roads and railroads, bridges, dams, viaducts, and tunnels; performs specialist works, such as soil improvement and land remediation; and operates as a contractor of dry infrastructure projects.

Royal Boskalis Westminster Fundamentals Summary

How do Royal Boskalis Westminster's earnings and revenue compare to its market cap?
BOKA fundamental statistics
Market Cap€4.14b
Earnings (TTM)€150.85m
Revenue (TTM)€2.96b

27.4x

P/E Ratio

1.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
BOKA income statement (TTM)
Revenue€2.96b
Cost of Revenue€2.53b
Gross Profit€427.67m
Other Expenses€276.83m
Earnings€150.85m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

Aug 18, 2022

Earnings per share (EPS)1.17
Gross Margin14.46%
Net Profit Margin5.10%
Debt/Equity Ratio17.2%

How did BOKA perform over the long term?

See historical performance and comparison

Dividends

1.6%

Current Dividend Yield

43%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • 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 BOKA?

Other financial metrics that can be useful for relative valuation.

BOKA 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/Revenue1.3x
Enterprise Value/EBITDA10x
PEG Ratio2.2x

Price to Earnings Ratio vs Peers

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

BOKA PE Ratio vs Peers
The above table shows the PE ratio for BOKA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average19.3x

Price-To-Earnings vs Peers: BOKA is expensive based on its Price-To-Earnings Ratio (27.4x) compared to the peer average (19.3x).


Price to Earnings Ratio vs Industry

How does BOKA's PE Ratio compare vs other companies in the Construction Industry?

Price-To-Earnings vs Industry: BOKA is expensive based on its Price-To-Earnings Ratio (27.4x) compared to the Dutch Construction industry average (20.4x)


Price to Earnings Ratio vs Fair Ratio

What is BOKA'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.

BOKA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio27.4x
Fair PE Ratio31.6x

Price-To-Earnings vs Fair Ratio: BOKA is good value based on its Price-To-Earnings Ratio (27.4x) compared to the estimated Fair Price-To-Earnings Ratio (31.6x).


Share Price vs Fair Value

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

Below Fair Value: BOKA (€32) is trading below our estimate of fair value (€57.45)

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


Price to Earnings Growth Ratio

PEG Ratio: BOKA is poor value based on its PEG Ratio (2.2x)


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Future Growth

How is Royal Boskalis Westminster forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


12.5%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BOKA's forecast earnings growth (12.5% per year) is above the savings rate (0.09%).

Earnings vs Market: BOKA's earnings (12.5% per year) are forecast to grow faster than the Dutch market (-0.9% per year).

High Growth Earnings: BOKA's earnings are forecast to grow, but not significantly.

Revenue vs Market: BOKA's revenue (6.8% per year) is forecast to grow slower than the Dutch market (8.1% per year).

High Growth Revenue: BOKA's revenue (6.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BOKA's Return on Equity is forecast to be low in 3 years time (10.7%).


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Past Performance

How has Royal Boskalis Westminster performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


58.1%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: BOKA has high quality earnings.

Growing Profit Margin: BOKA became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: BOKA has become profitable over the past 5 years, growing earnings by 58.1% per year.

Accelerating Growth: BOKA has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: BOKA has become profitable in the last year, making it difficult to compare its past year earnings growth to the Construction industry (25.6%).


Return on Equity

High ROE: BOKA's Return on Equity (6.2%) is considered low.


Discover strong past performing companies

Financial Health

How is Royal Boskalis Westminster's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: BOKA's short term assets (€1.9B) do not cover its short term liabilities (€2.0B).

Long Term Liabilities: BOKA's short term assets (€1.9B) exceed its long term liabilities (€616.5M).


Debt to Equity History and Analysis

Debt Level: BOKA has more cash than its total debt.

Reducing Debt: BOKA's debt to equity ratio has reduced from 24.3% to 17.2% over the past 5 years.

Debt Coverage: BOKA's debt is well covered by operating cash flow (98.7%).

Interest Coverage: BOKA's interest payments on its debt are well covered by EBIT (11.5x coverage).


Balance Sheet


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Dividend

What is Royal Boskalis Westminster current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


1.56%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: BOKA's dividend (1.56%) isn’t notable compared to the bottom 25% of dividend payers in the Dutch market (2.27%).

High Dividend: BOKA's dividend (1.56%) is low compared to the top 25% of dividend payers in the Dutch market (6.38%).


Stability and Growth of Payments

Stable Dividend: BOKA is not paying a notable dividend for the Dutch market, therefore no need to check if payments are stable.

Growing Dividend: BOKA is not paying a notable dividend for the Dutch market, therefore no need to check if payments are increasing.


Earnings Payout to Shareholders

Earnings Coverage: BOKA is not paying a notable dividend for the Dutch market.


Cash Payout to Shareholders

Cash Flow Coverage: BOKA is not paying a notable dividend for the Dutch market.


Discover strong dividend paying companies

Management

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

14.0yrs

Average management tenure


CEO

Peter A. Berdowski (64 yo)

25.42yrs

Tenure

€2,935,000

Compensation

Dr. Peter A. M. Berdowski serves as the Chief Executive Officer of van Koninklijke Boskalis Westminster N.V. Dr. Berdowski has been the Chairman of the Board of Management and Chief Executive Officer of Ro...


CEO Compensation Analysis

Compensation vs Market: Peter A.'s total compensation ($USD3.10M) is above average for companies of similar size in the Dutch market ($USD2.25M).

Compensation vs Earnings: Peter A.'s compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: BOKA's management team is seasoned and experienced (14 years average tenure).


Board Members

Experienced Board: BOKA's board of directors are considered experienced (3.6 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.


Top Shareholders

Company Information

Royal Boskalis Westminster N.V.'s employee growth, exchange listings and data sources


Key Information

  • Name: Royal Boskalis Westminster N.V.
  • Ticker: BOKA
  • Exchange: ENXTAM
  • Founded: 1910
  • Industry: Construction and Engineering
  • Sector: Capital Goods
  • Implied Market Cap: €4.138b
  • Shares outstanding: 129.32m
  • Website: https://www.boskalis.com

Number of Employees


Location

  • Royal Boskalis Westminster N.V.
  • Rosmolenweg 20
  • Papendrecht
  • Zuid-Holland
  • 3356 LK
  • Netherlands

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/26 00:00
End of Day Share Price2022/06/24 00:00
Earnings2021/12/31
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.