OB:AGAS

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Avance Gas Holding

Executive Summary

Avance Gas Holding Ltd, together with its subsidiaries, engages in the transportation of liquefied petroleum gas (LPG) worldwide. More Details


Snowflake Analysis

Average dividend payer and fair value.


Similar Companies

Share Price & News

How has Avance Gas Holding's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: AGAS is not significantly more volatile than the rest of Norwegian stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: AGAS's weekly volatility (9%) has been stable over the past year.


Market Performance


7 Day Return

-13.6%

AGAS

-0.3%

NO Oil and Gas

1.6%

NO Market


1 Year Return

-28.5%

AGAS

-10.6%

NO Oil and Gas

2.4%

NO Market

Return vs Industry: AGAS underperformed the Norwegian Oil and Gas industry which returned -10.6% over the past year.

Return vs Market: AGAS underperformed the Norwegian Market which returned 2.4% over the past year.


Shareholder returns

AGASIndustryMarket
7 Day-13.6%-0.3%1.6%
30 Day-9.3%14.6%7.2%
90 Day26.4%29.2%18.8%
1 Year-20.2%-28.5%-6.0%-10.6%6.1%2.4%
3 Year89.1%69.4%3.2%-9.8%13.8%0.9%
5 Year-57.6%-66.2%83.2%46.0%81.3%46.0%

Long-Term Price Volatility Vs. Market

How volatile is Avance Gas Holding's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Avance Gas Holding undervalued compared to its fair value and its price relative to the market?

4.65x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: AGAS (NOK37.16) is trading above our estimate of fair value (NOK17.08)

Significantly Below Fair Value: AGAS is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: AGAS is good value based on its PE Ratio (4.7x) compared to the NO Oil and Gas industry average (6.3x).

PE vs Market: AGAS is good value based on its PE Ratio (4.7x) compared to the Norwegian market (15.9x).


Price to Earnings Growth Ratio

PEG Ratio: AGAS is good value based on its PEG Ratio (0.2x)


Price to Book Ratio

PB vs Industry: AGAS's PB Ratio (0.7x) is in line with the NO Oil and Gas industry average.


Next Steps

Future Growth

How is Avance Gas Holding forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

20.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AGAS's forecast earnings growth (20.7% per year) is above the savings rate (1.4%).

Earnings vs Market: AGAS's earnings (20.7% per year) are forecast to grow slower than the Norwegian market (33.2% per year).

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

Revenue vs Market: AGAS's revenue (1.7% per year) is forecast to grow slower than the Norwegian market (6.6% per year).

High Growth Revenue: AGAS's revenue (1.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: AGAS's Return on Equity is forecast to be low in 3 years time (14.2%).


Next Steps

Past Performance

How has Avance Gas Holding performed over the past 5 years?

-6.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AGAS has high quality earnings.

Growing Profit Margin: AGAS's current net profit margins (24.8%) are higher than last year (8.3%).


Past Earnings Growth Analysis

Earnings Trend: AGAS's earnings have declined by 6.6% per year over the past 5 years.

Accelerating Growth: AGAS's earnings growth over the past year (262.4%) exceeds its 5-year average (-6.6% per year).

Earnings vs Industry: AGAS earnings growth over the past year (262.4%) underperformed the Oil and Gas industry 263.2%.


Return on Equity

High ROE: AGAS's Return on Equity (15.1%) is considered low.


Next Steps

Financial Health

How is Avance Gas Holding's financial position?


Financial Position Analysis

Short Term Liabilities: AGAS's short term assets ($102.3M) exceed its short term liabilities ($62.8M).

Long Term Liabilities: AGAS's short term assets ($102.3M) do not cover its long term liabilities ($387.8M).


Debt to Equity History and Analysis

Debt Level: AGAS's debt to equity ratio (109.3%) is considered high.

Reducing Debt: AGAS's debt to equity ratio has increased from 100.4% to 109.3% over the past 5 years.

Debt Coverage: AGAS's debt is well covered by operating cash flow (25.8%).

Interest Coverage: AGAS's interest payments on its debt are well covered by EBIT (3.4x coverage).


Balance Sheet


Next Steps

Dividend

What is Avance Gas Holding current dividend yield, its reliability and sustainability?

6.86%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: AGAS's dividend (6.8%) is higher than the bottom 25% of dividend payers in the Norwegian market (2.32%).

High Dividend: AGAS's dividend (6.8%) is in the top 25% of dividend payers in the Norwegian market (5.6%)


Stability and Growth of Payments

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

Growing Dividend: AGAS has only been paying a dividend for 7 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (31.9%), AGAS's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: AGAS's dividends in 3 years are forecast to be well covered by earnings (29.5% payout ratio).


Next Steps

Management

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

0.7yrs

Average management tenure


CEO

Avance Gas Holding has no CEO, or we have no data on them.


Leadership Team

NamePositionTenureCompensationOwnership
Randi Bekkelund
Chief Financial Officer0.33yrno datano data
Kenneth Aasvang
Operations Manager9.67yrsno datano data
Jannicke Eilertsen
Legal Counsel & Compliance Officer1yrno datano data
Ben Martin
Chief Commercial Officer0.33yrno datano data
James Ayers
Secretaryno datano datano data

0.7yrs

Average Tenure

Experienced Management: AGAS's management team is not considered experienced ( 0.7 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
James O'Shaughnessy
Directorno datano datano data
Jan Kastrup-Nielsen
Independent Director6.75yrsno data0.0067%
$ 159.8k
François Sunier
Independent Director10.08yrsUS$10.00kno data
Marius Hermansen
Independent Chairman of the Board2.5yrsno datano data

6.8yrs

Average Tenure

55.5yo

Average Age

Experienced Board: AGAS's board of directors are considered experienced (6.8 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.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

Avance Gas Holding Ltd's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Avance Gas Holding Ltd
  • Ticker: AGAS
  • Exchange: OB
  • Founded: 2007
  • Industry: Oil and Gas Storage and Transportation
  • Sector: Energy
  • Market Cap: kr2.367b
  • Shares outstanding: 63.69m
  • Website: https://www.avancegas.com

Number of Employees


Location

  • Avance Gas Holding Ltd
  • Par-la-Ville Place
  • 14 Par-la-Ville Road
  • Hamilton
  • HM 08
  • Bermuda

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AGASOB (Oslo Bors)YesCommon SharesNONOKOct 2013
AVAC.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDOct 2013
0QTXLSE (London Stock Exchange)YesCommon SharesGBNOKOct 2013
AGASOBATS-CHIXE (BATS 'Chi-X Europe')YesCommon SharesGBNOKOct 2013

Biography

Avance Gas Holding Ltd, together with its subsidiaries, engages in the transportation of liquefied petroleum gas (LPG) worldwide. The company transports LPG from the Middle East Gulf and the United States ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/23 01:07
End of Day Share Price2021/01/22 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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.