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OSUN

Ocean Sun OB:OSUN Stock Report

Last Price

kr8.25

Market Cap

kr371.1m

7D

-7.3%

1Y

-54.6%

Updated

28 Sep, 2022

Data

Company Financials +
OSUN fundamental analysis
Snowflake Score
Valuation2/6
Future Growth5/6
Past Performance0/6
Financial Health5/6
Dividends0/6

OSUN Stock Overview

Ocean Sun AS develops floating power system with solar panels.

Ocean Sun Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Ocean Sun
Historical stock prices
Current Share Pricekr8.25
52 Week Highkr19.90
52 Week Lowkr7.44
Beta0
1 Month Change-22.90%
3 Month Change-31.14%
1 Year Change-54.57%
3 Year Changen/a
5 Year Changen/a
Change since IPO-44.96%

Recent News & Updates

Jun 14
We're Not Worried About Ocean Sun's (OB:OSUN) Cash Burn

We're Not Worried About Ocean Sun's (OB:OSUN) Cash Burn

Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...

Mar 08
We're Not Very Worried About Ocean Sun's (OB:OSUN) Cash Burn Rate

We're Not Very Worried About Ocean Sun's (OB:OSUN) Cash Burn Rate

We can readily understand why investors are attracted to unprofitable companies. For example, biotech and mining...

Shareholder Returns

OSUNNO Professional ServicesNO Market
7D-7.3%-2.9%-5.1%
1Y-54.6%-14.7%-4.5%

Return vs Industry: OSUN underperformed the Norwegian Professional Services industry which returned -14.4% over the past year.

Return vs Market: OSUN underperformed the Norwegian Market which returned -2% over the past year.

Price Volatility

Is OSUN's price volatile compared to industry and market?
OSUN volatility
OSUN Average Weekly Movement7.7%
Professional Services Industry Average Movement4.8%
Market Average Movement6.6%
10% most volatile stocks in NO Market11.4%
10% least volatile stocks in NO Market3.7%

Stable Share Price: OSUN is not significantly more volatile than the rest of Norwegian stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: OSUN's weekly volatility (8%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
201612Borge Bjornekletthttps://oceansun.no

Ocean Sun AS develops floating power system with solar panels. Its system consists of one or multiple floaters anchored side-by-side to build larger power plants, as well as takes local water depth, wave, current, and wind conditions into consideration. Ocean Sun AS was incorporated in 2016 and is headquartered in Fornebu, Norway.

Ocean Sun Fundamentals Summary

How do Ocean Sun's earnings and revenue compare to its market cap?
OSUN fundamental statistics
Market Capkr371.14m
Earnings (TTM)-kr20.81m
Revenue (TTM)kr1.97m

188.6x

P/S Ratio

-17.8x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
OSUN income statement (TTM)
Revenuekr1.97m
Cost of Revenuekr402.00k
Gross Profitkr1.57m
Other Expenseskr22.38m
Earnings-kr20.81m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Nov 09, 2022

Earnings per share (EPS)-0.46
Gross Margin79.58%
Net Profit Margin-1,057.25%
Debt/Equity Ratio0.0%

How did OSUN perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

OSUN 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/Revenue154.2x
Enterprise Value/EBITDA-14.3x
PEG Ration/a

Price to Book Ratio vs Peers

How does OSUN's PB Ratio compare to its peers?

OSUN PB Ratio vs Peers
The above table shows the PB ratio for OSUN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPBEstimated GrowthMarket Cap
Peer Average5x
MULTI Multiconsult
4.2x2.4%kr3.6b
ZAL Zalaris
2.5xn/akr445.0m
NUMND Nordic Unmanned
12.7xn/akr314.1m
PRYME Pryme
0.5x83.1%kr232.1m
OSUN Ocean Sun
5.1x98.0%kr371.1m

Price-To-Book vs Peers: OSUN is expensive based on its Price-To-Book Ratio (5.1x) compared to the peer average (5x).


Price to Earnings Ratio vs Industry

How does OSUN's PE Ratio compare vs other companies in the European Professional Services Industry?

Price-To-Book vs Industry: OSUN is expensive based on its Price-To-Book Ratio (5.1x) compared to the European Professional Services industry average (2.2x)


Price to Book Ratio vs Fair Ratio

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

OSUN PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio5.1x
Fair PB Ration/a

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


Share Price vs Fair Value

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

Below Fair Value: OSUN (NOK8.25) is trading below our estimate of fair value (NOK13.23)

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


Analyst Price Targets

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

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is Ocean Sun forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

5/6

Future Growth Score 5/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


98.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: OSUN is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.1%).

Earnings vs Market: OSUN is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: OSUN is expected to become profitable in the next 3 years.

Revenue vs Market: OSUN's revenue (79.7% per year) is forecast to grow faster than the Norwegian market (0.3% per year).

High Growth Revenue: OSUN's revenue (79.7% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if OSUN's Return on Equity is forecast to be high in 3 years time


Discover growth companies

Past Performance

How has Ocean Sun performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-30.7%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: OSUN is currently unprofitable.

Growing Profit Margin: OSUN is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: OSUN is unprofitable, and losses have increased over the past 5 years at a rate of 30.7% per year.

Accelerating Growth: Unable to compare OSUN's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: OSUN is unprofitable, making it difficult to compare its past year earnings growth to the Professional Services industry (33.6%).


Return on Equity

High ROE: OSUN has a negative Return on Equity (-28.84%), as it is currently unprofitable.


Discover strong past performing companies

Financial Health

How is Ocean Sun's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: OSUN's short term assets (NOK77.9M) exceed its short term liabilities (NOK5.8M).

Long Term Liabilities: OSUN's short term assets (NOK77.9M) exceed its long term liabilities (NOK1,000.0).


Debt to Equity History and Analysis

Debt Level: OSUN is debt free.

Reducing Debt: OSUN has not had any debt for past 5 years.


Balance Sheet


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.

Stable Cash Runway: OSUN has sufficient cash runway for more than 3 years based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if OSUN has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Discover healthy companies

Dividend

What is Ocean Sun 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

  • Cash Flow Coverage

Dividend Yield vs Market

Ocean Sun Dividend Yield vs Market
How does Ocean Sun dividend yield compare to the market?
SegmentDividend Yield
Company (Ocean Sun)n/a
Market Bottom 25% (NO)3.8%
Market Top 25% (NO)8.0%
Industry Average (Professional Services)2.9%
Analyst forecast in 3 Years (Ocean Sun)n/a

Notable Dividend: Unable to evaluate OSUN's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate OSUN's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if OSUN's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if OSUN's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as OSUN has not reported any payouts.


Discover strong dividend paying companies

Management

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

1.3yrs

Average management tenure


CEO

Borge Bjorneklett

no data

Tenure

Dr. Børge Bjørneklett is Founder of Ocean Sun AS and serves as its Chief Executive Officer. Dr. Bjørneklett served as Director at Ocean Sun AS until June 2022. Dr. Bjørneklett worked in Tech management fro...


Leadership Team

Experienced Management: OSUN's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.


Board Members

Experienced Board: OSUN's board of directors are not considered experienced ( 0.9 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

OB:OSUN Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
21 Feb 22Buykr109,200Bkraft Holding AsCompany13,000kr8.40
11 Nov 21Buykr120,480Bkraft Holding AsCompany8,000kr15.06
10 Nov 21Buykr49,973Anne SkrivarhaugIndividual3,183kr15.70
04 Oct 21Buykr154,675Nenad KesericIndividual9,120kr16.96

Ownership Breakdown

What is the ownership structure of OSUN?
Owner TypeNumber of SharesOwnership Percentage
General Public676,8851.5%
Individual Insiders4,855,46710.8%
VC/PE Firms7,264,10016.1%
Institutions10,696,44823.8%
Private Companies21,493,30047.8%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 89.33% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
20.55%
Dr.Ing. Borge Bjorneklett AS
9,242,500NOK76.3m0%no data
16.15%
Kvantia AS
7,264,100NOK59.9m0%8.47%
14.06%
Progressi As
6,326,100NOK52.2m0%no data
5.69%
Arnt Ingulstad
2,560,500NOK21.1m0%no data
4.49%
MP Pensjon
2,017,966NOK16.6m0%0.32%
3.33%
Citigroup Inc.,Banking and Securities Investments
1,500,000NOK12.4m0%no data
3.11%
Erik Sauar
1,398,584NOK11.5m-6.31%no data
2.86%
Morgan Stanley, Investment Banking and Brokerage Investments
1,285,125NOK10.6m26.32%no data
2.35%
Goldman Sachs Group, Investment Banking and Securities Investments
1,057,010NOK8.7m0%no data
2.22%
Opulens AS
1,000,000NOK8.3m0%no data
2.14%
DNB Asset Management AS
961,459NOK7.9m34.54%no data
2.13%
UBS Asset Management
959,000NOK7.9m0%no data
1.84%
Amundi Asset Management
828,112NOK6.8m34.83%no data
1.43%
Nordnet AB (publ), Asset Management Arm
641,069NOK5.3m-25.13%0.09%
1.19%
Caaby AS
535,700NOK4.4m0%no data
0.86%
Bkraft Holding As
389,000NOK3.2m0%no data
0.83%
Saxo Bank A/S, Asset Management Arm
372,030NOK3.1m38.13%0.04%
0.79%
Northern Trust Global Investments
356,620NOK2.9m-14.88%no data
0.56%
JPMorgan Chase & Co, Brokerage and Securities Investments
251,500NOK2.1m0%no data
0.56%
Forte Fondsforvaltning AS
250,000NOK2.1m0%12.42%
0.45%
Borge Bjorneklett
201,900NOK1.7m0%no data
0.45%
Kristian Tørvold
201,900NOK1.7m0%no data
0.45%
Are Gløersen
201,900NOK1.7m0%no data
0.45%
Karl Lawenius
201,900NOK1.7m0%no data
0.41%
Premier Fund Managers Limited
183,557NOK1.5m0%no data

Company Information

Ocean Sun AS's employee growth, exchange listings and data sources


Key Information

  • Name: Ocean Sun AS
  • Ticker: OSUN
  • Exchange: OB
  • Founded: 2016
  • Industry: Research and Consulting Services
  • Sector: Commercial Services
  • Implied Market Cap: kr371.136m
  • Shares outstanding: 44.99m
  • Website: https://oceansun.no

Number of Employees


Location

  • Ocean Sun AS
  • SnarOeyveien 20
  • Fornebu
  • Akershus
  • 1360
  • Norway


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
OW7MUN (Boerse Muenchen)YesCommon SharesDEEUROct 2020
OSUNOB (Oslo Bors)YesCommon SharesNONOKOct 2020
OW7DB (Deutsche Boerse AG)YesCommon SharesDEEUROct 2020

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/28 00:00
End of Day Share Price2022/09/28 00:00
Earnings2022/06/30
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.