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TTS Group

OB:TTS
Snowflake Description

Mediocre balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TTS
OB
NOK537M
Market Cap
  1. Home
  2. NO
  3. Capital Goods
Company description

TTS Group ASA designs, develops, and supplies equipment solutions and services for the marine and offshore industries in Europe, Asia, the United States/Canada, and internationally. The last earnings update was 23 days ago. More info.


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TTS Share Price and Events
7 Day Returns
0.6%
OB:TTS
2%
NO Machinery
1.7%
NO Market
1 Year Returns
0.3%
OB:TTS
14.3%
NO Machinery
5.4%
NO Market
TTS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
TTS Group (TTS) 0.6% 1.6% 1.6% 0.3% 113.3% 0.2%
NO Machinery 2% -2.3% 16.9% 14.3% 14.3% -7.5%
NO Market 1.7% 2.1% 5.4% 5.4% 33.4% 29.1%
1 Year Return vs Industry and Market
  • TTS underperformed the Machinery industry which returned 14.3% over the past year.
  • TTS underperformed the Market in Norway which returned 5.4% over the past year.
Price Volatility
TTS
Industry
5yr Volatility vs Market

Value

 Is TTS Group 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 TTS Group 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    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for TTS Group.

OB:TTS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 9.7%
Perpetual Growth Rate 10-Year NO Government Bond Rate 1.8%

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 OB:TTS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year NO Govt Bond Rate 1.8%
Equity Risk Premium S&P Global 6%
Machinery Unlevered Beta Simply Wall St/ S&P Global 1.06
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.058 (1 + (1- 23%) (53.51%))
1.331
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.33
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.76% + (1.331 * 5.96%)
9.69%

Discounted Cash Flow Calculation for OB:TTS using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for TTS Group 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.

OB:TTS DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (NOK, Millions) Source Present Value
Discounted (@ 9.69%)
2019 86.00 Est @ 10.78% 78.40
2020 92.94 Est @ 8.07% 77.25
2021 98.69 Est @ 6.18% 74.77
2022 103.48 Est @ 4.85% 71.48
2023 107.54 Est @ 3.93% 67.72
2024 111.06 Est @ 3.28% 63.76
2025 114.20 Est @ 2.82% 59.77
2026 117.06 Est @ 2.5% 55.85
2027 119.72 Est @ 2.28% 52.08
2028 122.27 Est @ 2.12% 48.49
Present value of next 10 years cash flows NOK649.57
OB:TTS DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= NOK122.27 × (1 + 1.76%) ÷ (9.69% – 1.76%)
NOK1,568.85
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= NOK1,568.85 ÷ (1 + 9.69%)10
NOK622.14
OB:TTS Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= NOK649.57 + NOK622.14
NOK1,271.70
Equity Value per Share
(NOK)
= Total value / Shares Outstanding
= NOK1,271.70 / 88.07
NOK14.44
OB:TTS Discount to Share Price
Calculation Result
Value per share (NOK) From above. NOK14.44
Current discount Discount to share price of NOK6.40
= -1 x (NOK6.40 - NOK14.44) / NOK14.44
55.7%

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

Current Discount
Amount off the current price TTS Group is available for.
Intrinsic value
>50%
Share price is NOK6.4 vs Future cash flow value of NOK14.44
Current Discount Checks
For TTS Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • TTS Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • TTS Group's share price is below the future cash flow value, and 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 TTS Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are TTS Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OB:TTS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in NOK NOK-0.02
OB:TTS Share Price ** OB (2019-03-15) in NOK NOK6.4
Europe Machinery Industry PE Ratio Median Figure of 181 Publicly-Listed Machinery Companies 15.9x
Norway Market PE Ratio Median Figure of 129 Publicly-Listed Companies 13.24x

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

** Primary Listing of TTS Group.

OB:TTS PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OB:TTS Share Price ÷ EPS (both in NOK)

= 6.4 ÷ -0.02

-303.75x

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

  • TTS Group is loss making, we can't compare its value to the Europe Machinery industry average.
  • TTS Group is loss making, we can't compare the value of its earnings to the Norway market.
Price based on expected Growth
Does TTS Group's expected growth come at a high price?
Raw Data
OB:TTS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -303.75x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Europe Machinery Industry PEG Ratio Median Figure of 122 Publicly-Listed Machinery Companies 1.7x
Norway Market PEG Ratio Median Figure of 101 Publicly-Listed Companies 0.95x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for TTS Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on TTS Group's assets?
Raw Data
OB:TTS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in NOK NOK4.11
OB:TTS Share Price * OB (2019-03-15) in NOK NOK6.4
Norway Machinery Industry PB Ratio Median Figure of 6 Publicly-Listed Machinery Companies 1.08x
Norway Market PB Ratio Median Figure of 214 Publicly-Listed Companies 1.2x
OB:TTS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OB:TTS Share Price ÷ Book Value per Share (both in NOK)

= 6.4 ÷ 4.11

1.56x

* Primary Listing of TTS Group.

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

  • TTS Group is overvalued based on assets compared to the NO Machinery industry average.
X
Value checks
We assess TTS Group'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 Machinery 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 Machinery industry average (and greater than 0)? (1 check)
  5. TTS Group has a total score of 2/6, 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.

Future Performance

 How is TTS Group expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

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 TTS Group 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 Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
8.1%
Expected Machinery industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is TTS Group expected to grow at an attractive rate?
  • Unable to compare TTS Group's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare TTS Group's earnings growth to the Norway market average as no estimate data is available.
  • Unable to compare TTS Group's revenue growth to the Norway market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
OB:TTS Future Growth Rates Data Sources
Data Point Source Value (per year)
Europe Machinery Industry Earnings Growth Rate Market Cap Weighted Average 8.1%
Europe Machinery Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
Norway Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Norway Market Revenue Growth Rate Market Cap Weighted Average 4.4%

*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
OB:TTS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in NOK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OB:TTS Past Financials Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income *
2018-12-31 220 96 -2
2018-09-30 226 85 34
2018-06-30 239 64 31
2018-03-31 229 100 14
2017-12-31 211 84 -7
2017-09-30 -1,965 34 -33
2017-06-30 -1,298 -2 -26
2017-03-31 -520 -13 -19
2016-12-31 202 -94 -7
2016-09-30 3,170 -164 -97
2016-06-30 3,234 -86 -132
2016-03-31 3,223 42 -22

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if TTS Group is high growth as no earnings estimate data is available.
  • Unable to determine if TTS Group is high growth as no revenue estimate data is available.
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
OB:TTS Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from TTS Group Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:TTS Past Financials Data
Date (Data in NOK Millions) EPS *
2018-12-31 -0.02
2018-09-30 0.40
2018-06-30 0.36
2018-03-31 0.16
2017-12-31 -0.08
2017-09-30 -0.38
2017-06-30 -0.30
2017-03-31 -0.22
2016-12-31 -0.09
2016-09-30 -1.13
2016-06-30 -1.52
2016-03-31 -0.26

*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.
  • Unable to establish if TTS Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Take a look at our analysis of TTS’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  2. TTS Group's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Capital Goods companies here
  3. TTS Group's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess TTS Group'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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
TTS Group has a total score of 0/6, 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.

Past Performance

  How has TTS Group 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 TTS Group's growth in the last year to its industry (Machinery).
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.
  • TTS Group does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare TTS Group's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare TTS Group's 1-year growth to the Europe Machinery industry average as it is not currently profitable.
Earnings and Revenue History
TTS Group'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 TTS Group Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:TTS Past Revenue, Cash Flow and Net Income Data
Date (Data in NOK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 220.31 -1.84
2018-09-30 226.26 34.43 109.81
2018-06-30 238.55 31.41 109.81
2018-03-31 228.61 13.54 109.81
2017-12-31 211.04 -7.21 109.81
2017-09-30 -1,965.17 -32.75 108.45
2017-06-30 -1,298.29 -25.98 108.45
2017-03-31 -519.95 -19.22 108.45
2016-12-31 202.34 -7.45 108.45
2016-09-30 3,169.78 -97.42 775.06
2016-06-30 3,233.99 -131.88 775.06
2016-03-31 3,223.47 -22.30 775.06
2015-12-31 3,051.24 -48.67 775.06
2015-09-30 2,943.23 144.38 607.81
2015-06-30 2,687.81 98.37 607.81
2015-03-31 2,493.27 -2.66 607.81
2014-12-31 2,453.66 -21.82 607.81
2014-09-30 2,358.13 -276.62 695.60
2014-06-30 2,374.01 -298.62 695.60
2014-03-31 2,515.16 -282.91 695.60
2013-12-31 2,693.17 -227.36 695.60
2013-09-30 2,850.28 -75.47 522.81
2013-06-30 2,763.29 32.11 522.81
2013-03-31 2,536.74 23.96 522.81
2012-12-31 2,346.48 36.53 522.81
2012-09-30 2,131.18 68.97 480.95
2012-06-30 2,259.99 73.46 480.95
2012-03-31 2,367.35 69.32 480.95

*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.
  • TTS Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • It is difficult to establish if TTS Group has efficiently used its assets last year compared to the Europe Machinery industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if TTS Group improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess TTS Group'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 Machinery 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.
TTS Group has a total score of 0/6, 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.

Health

 How is TTS Group'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 TTS Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • TTS Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • TTS Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of TTS Group'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 8x 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 TTS Group Company Filings, last reported 2 months ago.

OB:TTS Past Debt and Equity Data
Date (Data in NOK Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 514.23 287.45 349.45
2018-09-30 501.30 300.25 266.87
2018-06-30 509.40 313.35 227.36
2018-03-31 534.74 326.35 209.43
2017-12-31 607.46 339.85 261.84
2017-09-30 585.80 471.04 258.56
2017-06-30 592.64 478.40 222.74
2017-03-31 592.97 418.67 222.86
2016-12-31 616.43 470.06 175.78
2016-09-30 720.65 487.93 233.36
2016-06-30 777.52 497.11 251.63
2016-03-31 835.97 471.05 298.36
2015-12-31 854.57 522.81 413.21
2015-09-30 966.59 479.21 349.71
2015-06-30 882.71 509.53 331.70
2015-03-31 583.51 403.93 51.69
2014-12-31 610.36 385.91 130.60
2014-09-30 476.95 361.06 87.47
2014-06-30 472.99 380.72 87.85
2014-03-31 503.06 372.21 116.85
2013-12-31 566.67 233.44 155.57
2013-09-30 717.24 229.26 64.51
2013-06-30 773.75 216.37 146.97
2013-03-31 836.32 114.46 148.50
2012-12-31 794.58 110.92 227.67
2012-09-30 1,232.58 103.30 564.96
2012-06-30 1,235.37 123.63 985.04
2012-03-31 857.94 462.67 567.15
  • TTS Group's level of debt (55.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (41.5% vs 55.9% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making TTS Group has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making TTS Group has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -32.2% per year.
X
Financial health checks
We assess TTS Group'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. TTS Group has a total score of 3/6, 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.

Dividends

 What is TTS Group'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
0%
Current annual income from TTS Group dividends.
If you bought NOK2,000 of TTS Group shares you are expected to receive NOK0 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?
  • Unable to evaluate TTS Group's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate TTS Group's dividend against the top 25% market benchmark as the company has not reported any payouts.
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
OB:TTS 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 0 Analyst Estimates (S&P Global) See Below
Europe Machinery Industry Average Dividend Yield Market Cap Weighted Average of 143 Stocks 2.7%
Norway Market Average Dividend Yield Market Cap Weighted Average of 112 Stocks 4.2%
Norway Minimum Threshold Dividend Yield 10th Percentile 1.8%
Norway Bottom 25% Dividend Yield 25th Percentile 2.7%
Norway Top 25% Dividend Yield 75th Percentile 6.2%

Industry and Market average data is calculated daily.

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

OB:TTS Past Annualized Dividends Data
Date (Data in NOK) Dividend per share (annual) Avg. Yield (%)
2014-11-06 0.000 0.000
2014-08-20 0.000 0.000
2014-05-15 0.000 0.000
2014-04-30 0.000 0.000
2013-06-10 1.000 15.039
2010-05-12 0.000 0.000
2009-11-05 0.000 0.000
2009-08-21 0.000 0.000
2009-05-28 0.000 0.000
2009-03-18 0.000 0.000

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

  • Unable to perform a dividend volatility check as TTS Group has not reported any payouts.
  • Unable to verify if TTS Group's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of TTS Group's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as TTS Group has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess TTS Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.8%) - 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 TTS Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. TTS Group has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of TTS Group'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
Toril Eidesvik
COMPENSATION NOK3,078
AGE 50
TENURE AS CEO 2.9 years
CEO Bio

Mrs. Toril Eidesvik has been the Chief Executive Officer and President of TTS Group ASA since April 25, 2016. Mrs. Eidesvik served as the Chief Executive Officer of EMS Seven Seas ASA from March 31, 2014 to September 2014. Mrs. Eidesvik served as the Chief Executive Officer and Managing Director of Reach Subsea ASA. Mrs. Eidesvik served as Managing Director at Green Reefers ASA from 2006 to 2012. She served as the Managing Director of Actinor Shipping ASA from 2003 to 2006. She served as a Lawyer with Caiano AS. She served for nine years as a lawyer for the law firm Simonsen Musæus Advokatfirma DA from 1994 to 1998 and for Gjensidige NOR Sparebank from 1998 to 2002. Mrs. Eidesvik serves as the Chairperson of Zahlahuset II AS and she serves as Chairperson of Green Reefers ASA. She served as Executive Chairman of Reach Subsea ASA since December 2006 and Director since May 2004. She has been a Director of Eksportfinans ASA since April 6, 2017 and its Deputy Chairperson since 2019. She has been a Director of Solstad Offshore ASA since May 12, 2005; Green Reefers Asa since May 2004. She serves as a Member of Supervisory Board at DNB Bank ASA. She served as a Member of Supervisory Board at DNB ASA. She served as a Director of TTS Group ASA since June 10, 2013 until May 2016. She served as Director at EMS Seven Seas ASA since May 2013 until November 2013. She served as a Director of DeepOcean AS.She served as a Member of Supervisory Board at DNB Livsforsikring ASA. She served as a Director Trico Marine Services Inc. She served as a Director of Jason Shipping ASA since July 14, 2010 and July 2012. She is an Independent Consultant. She holds a Degree equivalent to "Master of Laws" from the University of Oslo in 1993 and has further education from the Norwegian School of Management (BI).

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

Average tenure and age of the TTS Group management team in years:

1.4
Average Tenure
53
Average Age
  • The average tenure for the TTS Group management team is less than 2 years, this suggests a new team.
Management Team

Toril Eidesvik

TITLE
CEO & President
COMPENSATION
NOK3K
AGE
50
TENURE
2.9 yrs

Leiv Kallestad

TITLE
Chief Financial Officer
COMPENSATION
NOK2K
AGE
56
TENURE
1.6 yrs

Lennart Svensson

TITLE
Senior Vice President of Sales
AGE
62
TENURE
1.2 yrs

Rolf-Atle Tomassen

TITLE
Executive Vice President of SYS
COMPENSATION
NOK2K
AGE
53

Björn Rosen

TITLE
Executive Vice President of business unit Roro
COMPENSATION
NOK3K
TENURE
2 yrs

Mette Harv

TITLE
EVP of Offshore and EVP of Multipurpose & General Cargo
COMPENSATION
NOK1K
TENURE
1.2 yrs

Mark Bakelaar

TITLE
Chief Digital Officer
COMPENSATION
NOK1K
TENURE
1.2 yrs

Ingolf Johansen

TITLE
Group Chief Accountant

Miao Reinlund

TITLE
Senior Vice President of Communication
AGE
44

Lin Ervik

TITLE
Corporate Vice President of HR/HSE
Board of Directors Tenure

Average tenure and age of the TTS Group board of directors in years:

2.8
Average Tenure
57
Average Age
  • The average tenure for the TTS Group board of directors is less than 3 years, this suggests a new board.
Board of Directors

Trym Skeie

TITLE
Chairman of the Board
AGE
50
TENURE
9.3 yrs

Sverker Möller

TITLE
Executive Chairman of TTS Hua Hai Ships Equipment Co Ltd
AGE
76

Britt Mjellem

TITLE
Director
AGE
57
TENURE
3.2 yrs

Marianne Sandal

TITLE
Director
AGE
53
TENURE
4.8 yrs

Gisle Rike

TITLE
Director
AGE
65
TENURE
3.8 yrs

Morten Aarvik

TITLE
Employee Representative Director
AGE
33
TENURE
2.8 yrs

Leif Haukom

TITLE
Director
AGE
68
TENURE
1.8 yrs

Rakel Simmenes

TITLE
Employee Representative Director
TENURE
0.6 yrs

Magne Valle

TITLE
1st Deputy Director
TENURE
2.8 yrs

Jan Opedal

TITLE
2nd Deputy Director
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 (NOK) Value (NOK)
08. Nov 18 Sell Leiv Kallestad Individual 08. Nov 18 08. Nov 18 -106,250 NOK6.42 NOK-681,605
X
Management checks
We assess TTS Group'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. TTS Group 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.

News

Simply Wall St News

How Do TTS Group ASA’s (OB:TTS) Returns Compare To Its Industry?

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … What is Return On Capital Employed (ROCE)? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

Should You Be Worried About TTS Group ASA's (OB:TTS) 6.3% Return On Equity?

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … Another way to think of that is that for every NOK1 worth of equity in the company, it was able to earn NOK0.063. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

TTS Group ASA (OB:TTS): What Are Investors Earning On Their Capital?

As a result, your investment is being put to work to fund operations and if you want to earn an attractive return on your investment, the business needs to be making an adequate amount of money from the funds you provide. … You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided. … Thus, to understand how your money can grow by investing in TTS Group, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE)

Simply Wall St -

Should TTS Group ASA's (OB:TTS) Recent Earnings Worry You?

Today I will take a look at TTS Group ASA's (OB:TTS) most recent earnings update (31 March 2018) and compare these latest figures against its performance over the past few years, as well as how the rest of the machinery industry performed. … Did TTS's recent earnings growth beat the long-term trend and the industry. … TTS recently turned a profit of øre13.54m (most recent trailing twelve-months) compared to its average loss of -øre37.51m over the past five years

Simply Wall St -

How Should Investors React To TTS Group ASA's (OB:TTS) CEO Pay?

Toril Eidesvik took the helm as TTS Group ASA's (OB:TTS) CEO and grew market cap to øre579.79m recently. … Understanding how CEOs are incentivised to run and grow their company is an important aspect of investing in a stock. … CEOs leading companies of similar size and profitability

Simply Wall St -

Does TTS Group ASA's (OB:TTS) PE Ratio Signal A Selling Opportunity?

and want to begin learning the link between TTS Group ASA (OB:TTS)’s fundamentals and stock market performance. … TTS Group ASA (OB:TTS) is currently trading at a trailing P/E of 40.9x, which is higher than the industry average of 22.1x. … While this makes TTS appear like a stock to avoid or sell if you own it, you might change your mind after I explain the assumptions behind the P/E ratio.

Simply Wall St -

Should You Be Tempted To Sell TTS Group ASA (OB:TTS) At Its Current PE Ratio?

By comparing a stock’s price per share to its earnings per share, we are able to see how much investors are paying for each dollar of the company’s earnings. … Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for TTS Price per share = NOK6.3 Earnings per share = NOK0.157 ∴ Price-Earnings Ratio = NOK6.3 ÷ NOK0.157 = 40.2x The P/E ratio isn’t a metric you view in isolation and only becomes useful when you compare it against other similar companies. … At 40.2x, TTS’s P/E is higher than its industry peers (24.3x).

Simply Wall St -

Why TTS Group ASA's (OB:TTS) ROE Of 3.50% Does Not Tell The Whole Story

View our latest analysis for TTS Group What you must know about ROE Return on Equity (ROE) weighs TTS Group’s profit against the level of its shareholders’ equity. … Since TTS Group’s return does not cover its cost, with a difference of -7.80%, this means its current use of equity is not efficient and not sustainable. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity OB:TTS Last Perf May 15th 18 Essentially, profit margin shows how much money the company makes after paying for all its expenses.

Simply Wall St -

Who Owns Most Of TTS Group ASA (OB:TTS)?

Insider Ownership I find insiders are another important group of stakeholders, who are directly involved in making key decisions related to the use of capital. … Private Company Ownership Potential investors in TTS should also look at another important group of investors: private companies, with a stake of 70.09%, who are primarily invested because of strategic and capital gain interests. … Thus, potential investors should look into these business relations and check how it can impact long-term shareholder returns.Next Steps: TTS's considerably high level of institutional ownership calls for further analysis into its margin of safety.

Simply Wall St -

What Are The Drivers Of TTS Group ASA's (OB:TTS) Risks?

If you are looking to invest in TTS Group ASA’s (OB:TTS), or currently own the stock, then you need to understand its beta in order to understand how it can affect the risk of your portfolio. … A widely-used metric to measure a stock's market risk is beta, and the broad market index represents a beta value of one. … TTS's beta implies it may be a stock that investors with high-beta portfolios might find relevant if they wanted to reduce their exposure to market risk, especially during times of downturns.

Simply Wall St -

Company Info

Description

TTS Group ASA designs, develops, and supplies equipment solutions and services for the marine and offshore industries in Europe, Asia, the United States/Canada, and internationally. It offers shipyard solutions, including shiplifting systems for launching and retrievals of vessels; transfer systems for moving vessels around the yard; and FastDocking products for use in the docking and maintenance of vessels. The company was founded in 1966 and is headquartered in Bergen, Norway.

Details
Name: TTS Group ASA
TTS
Exchange: OB
Founded: 1966
NOK537,213,811
88,067,838
Website: http://www.ttsgroup.com
Address: TTS Group ASA
Folke Berandottes vei 38,
Fyllingsdalen,
Bergen,
Hordaland, Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB TTS Ordinary Shares Oslo Bors NO NOK 08. May 1995
DB 0TT Ordinary Shares Deutsche Boerse AG DE EUR 08. May 1995
LSE 0MQC Ordinary Shares London Stock Exchange GB NOK 08. May 1995
Number of employees
Current staff
Staff numbers
38
TTS Group employees.
Industry
Construction Machinery and Heavy Trucks
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/17 20:36
End of day share price update: 2019/03/15 00:00
Last earnings filing: 2019/02/22
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.