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VOW

VOW OB:VOW Stock Report

Last Price

kr23.04

Market Cap

kr2.6b

7D

-3.8%

1Y

-41.1%

Updated

03 Jul, 2022

Data

Company Financials +
VOW fundamental analysis
Snowflake Score
Valuation4/6
Future Growth6/6
Past Performance2/6
Financial Health3/6
Dividends0/6

VOW Stock Overview

VOW ASA, together with its subsidiaries, manufactures and supplies systems for processing and purifying wastewater, food waste, solid waste, and bio sludge.

VOW Competitors

Price History & Performance

Summary of all time highs, changes and price drops for VOW
Historical stock prices
Current Share Pricekr23.04
52 Week Highkr42.98
52 Week Lowkr15.14
Beta1.34
1 Month Change-8.21%
3 Month Change1.68%
1 Year Change-41.07%
3 Year Change37.55%
5 Year Change1,405.88%
Change since IPO753.33%

Recent News & Updates

May 05
VOW ASA (OB:VOW) Shares Could Be 41% Below Their Intrinsic Value Estimate

VOW ASA (OB:VOW) Shares Could Be 41% Below Their Intrinsic Value Estimate

Today we'll do a simple run through of a valuation method used to estimate the attractiveness of VOW ASA ( OB:VOW ) as...

Shareholder Returns

VOWNO Commercial ServicesNO Market
7D-3.8%6.6%-0.2%
1Y-41.1%-25.8%3.0%

Return vs Industry: VOW underperformed the Norwegian Commercial Services industry which returned -25.8% over the past year.

Return vs Market: VOW underperformed the Norwegian Market which returned 3% over the past year.

Price Volatility

Is VOW's price volatile compared to industry and market?
VOW volatility
VOW Average Weekly Movement7.6%
Commercial Services Industry Average Movement8.0%
Market Average Movement7.1%
10% most volatile stocks in NO Market13.1%
10% least volatile stocks in NO Market4.0%

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

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

About the Company

FoundedEmployeesCEOWebsite
2011128Henrik Badinhttps://www.vowasa.com

VOW ASA, together with its subsidiaries, manufactures and supplies systems for processing and purifying wastewater, food waste, solid waste, and bio sludge. It operates through Projects Cruise, Aftersales, and Landbased segments. The Projects Cruise segment delivers ship systems to shipyards for newbuild constructions, which include advanced wastewater purification, waste management, and food waste processing; advanced systems to shipowners for ships; and systems for aquaculture sludge treatment.

VOW Fundamentals Summary

How do VOW's earnings and revenue compare to its market cap?
VOW fundamental statistics
Market Capkr2.62b
Earnings (TTM)kr400.00k
Revenue (TTM)kr413.40m

6,564x

P/E Ratio

6.3x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
VOW income statement (TTM)
Revenuekr413.40m
Cost of Revenuekr256.40m
Gross Profitkr157.00m
Other Expenseskr156.60m
Earningskr400.00k

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

Aug 25, 2022

Earnings per share (EPS)0.0035
Gross Margin37.98%
Net Profit Margin0.096%
Debt/Equity Ratio54.6%

How did VOW perform over the long term?

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

Valuation

Is VOW 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-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales 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 VOW?

Other financial metrics that can be useful for relative valuation.

VOW 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/Revenue6.4x
Enterprise Value/EBITDA93.3x
PEG Ratio134.4x

Price to Sales Ratio vs Peers

How does VOW's PS Ratio compare to its peers?

VOW PS Ratio vs Peers
The above table shows the PS ratio for VOW vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average70.6x
QFUEL Quantafuel
171.7x59.3%kr2.3b
AGLX Agilyx
46.7x65.3%kr2.3b
PYRUM Pyrum Innovations
57.2x47.4%kr2.2b
NUMND Nordic Unmanned
6.6xn/akr697.9m
VOW VOW
6.3x20.8%kr2.6b

Price-To-Sales vs Peers: VOW is good value based on its Price-To-Sales Ratio (6.3x) compared to the peer average (70.6x).


Price to Earnings Ratio vs Industry

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

Price-To-Sales vs Industry: VOW is good value based on its Price-To-Sales Ratio (6.3x) compared to the Norwegian Commercial Services industry average (15.3x)


Price to Sales Ratio vs Fair Ratio

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

VOW PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio6.3x
Fair PS Ratio5.2x

Price-To-Sales vs Fair Ratio: VOW is expensive based on its Price-To-Sales Ratio (6.3x) compared to the estimated Fair Price-To-Sales Ratio (5.2x).


Share Price vs Fair Value

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

Below Fair Value: VOW (NOK23.04) is trading below our estimate of fair value (NOK36.52)

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


Price to Earnings Growth Ratio

PEG Ratio: VOW is poor value based on its PEG Ratio (134.4x)


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Future Growth

How is VOW forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

Future Growth Score

6/6

Future Growth Score 6/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


48.8%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: VOW's forecast earnings growth (48.8% per year) is above the savings rate (1.1%).

Earnings vs Market: VOW's earnings (48.8% per year) are forecast to grow faster than the Norwegian market (0.8% per year).

High Growth Earnings: VOW's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: VOW's revenue (20.8% per year) is forecast to grow faster than the Norwegian market (0.5% per year).

High Growth Revenue: VOW's revenue (20.8% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: VOW's Return on Equity is forecast to be high in 3 years time (21.1%)


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Past Performance

How has VOW performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-7.6%

Last years revenue growth

Earnings and Revenue History

Quality Earnings: VOW has a large one-off loss of NOK12.0M impacting its June 30 2021 financial results.

Growing Profit Margin: VOW became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: VOW has become profitable over the past 5 years.

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

Earnings vs Industry: VOW has become profitable in the last year, making it difficult to compare its past year earnings growth to the Commercial Services industry (36.6%).


Return on Equity

High ROE: VOW's Return on Equity (0.07%) is considered low.


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Financial Health

How is VOW's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: VOW's short term assets (NOK644.9M) exceed its short term liabilities (NOK181.9M).

Long Term Liabilities: VOW's short term assets (NOK644.9M) exceed its long term liabilities (NOK319.7M).


Debt to Equity History and Analysis

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

Reducing Debt: VOW's debt to equity ratio has increased from 50.8% to 54.6% over the past 5 years.

Debt Coverage: VOW's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: VOW's interest payments on its debt are not well covered by EBIT (1.1x coverage).


Balance Sheet


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Dividend

What is VOW 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


0.073%

Forecast Dividend Yield

Dividend Yield vs Market

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

High Dividend: Unable to evaluate VOW'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 VOW's dividends per share have been stable in the past.

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


Earnings Payout to Shareholders

Earnings Coverage: VOW is not paying a notable dividend for the Norwegian market.


Cash Payout to Shareholders

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


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Management

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

5.3yrs

Average management tenure


CEO

Henrik Badin (52 yo)

14.5yrs

Tenure

kr2,912,000

Compensation

Mr. Henrik Badin has been the Chief Executive Officer of VOW ASA (formerly known as Scanship Holding ASA) since 2008.


CEO Compensation Analysis

Compensation vs Market: Henrik's total compensation ($USD292.16K) is below average for companies of similar size in the Norwegian market ($USD529.99K).

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


Leadership Team

Experienced Management: VOW's management team is seasoned and experienced (5.3 years average tenure).


Board Members

Experienced Board: VOW's board of directors are considered experienced (4.7 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

VOW ASA's employee growth, exchange listings and data sources


Key Information

  • Name: VOW ASA
  • Ticker: VOW
  • Exchange: OB
  • Founded: 2011
  • Industry: Environmental and Facilities Services
  • Sector: Commercial Services
  • Implied Market Cap: kr2.618b
  • Shares outstanding: 113.64m
  • Website: https://www.vowasa.com

Number of Employees


Location

  • VOW ASA
  • Lysaker Torg 12
  • Lysaker
  • Akershus
  • 1366
  • Norway

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/07/03 00:00
End of Day Share Price2022/07/01 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.