OB:AQUA

Stock Analysis Report

AqualisBraemar

Executive Summary

AqualisBraemar ASA, an investment holding company, provides marine and engineering consultancy services to the offshore oil and gas industry and offshore renewables market worldwide.


Snowflake Analysis

Flawless balance sheet and undervalued.

Share Price & News

How has AqualisBraemar's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: AQUA has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-9.3%

AQUA

-9.0%

NO Energy Services

-5.1%

NO Market


1 Year Return

-7.1%

AQUA

-32.2%

NO Energy Services

-5.6%

NO Market

Return vs Industry: AQUA exceeded the Norwegian Energy Services industry which returned -32.8% over the past year.

Return vs Market: AQUA matched the Norwegian Market which returned -5.1% over the past year.


Shareholder returns

AQUAIndustryMarket
7 Day-9.3%-9.0%-5.1%
30 Day-13.3%-17.6%-5.3%
90 Day9.6%-19.6%-3.2%
1 Year-7.1%-7.1%-30.2%-32.2%-0.7%-5.6%
3 Year36.9%15.0%-28.1%-33.0%25.1%9.4%
5 Year-32.9%-43.6%-18.1%-48.5%52.3%18.3%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is AqualisBraemar undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: AQUA (NOK3.97) is trading below our estimate of fair value (NOK10.47)

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


Price To Earnings Ratio

PE vs Industry: AQUA is good value based on its PE Ratio (1.5x) compared to the Energy Services industry average (9.8x).

PE vs Market: AQUA is good value based on its PE Ratio (1.5x) compared to the Norwegian market (14.5x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate AQUA's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: AQUA is good value based on its PB Ratio (0.4x) compared to the NO Energy Services industry average (0.5x).


Next Steps

Future Growth

How is AqualisBraemar forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

40.0%

Forecasted Energy industry annual growth in earnings


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 AqualisBraemar 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 SimplyWall St do have past financial data.


Next Steps

Past Performance

How has AqualisBraemar performed over the past 5 years?

31.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AQUA has a high level of non-cash earnings.

Growing Profit Margin: AQUA became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: AQUA has become profitable over the past 5 years, growing earnings by 31.2% per year.

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

Earnings vs Industry: AQUA has become profitable in the last year, making it difficult to compare its past year earnings growth to the Energy Services industry (-44.4%).


Return on Equity

High ROE: AQUA's Return on Equity (23.4%) is considered high.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is AqualisBraemar's financial position?


Financial Position Analysis

Short Term Liabilities: AQUA's short term assets ($50.1M) exceed its short term liabilities ($14.3M).

Long Term Liabilities: AQUA's short term assets ($50.1M) exceed its long term liabilities ($3.6M).


Debt to Equity History and Analysis

Debt Level: AQUA is debt free.

Reducing Debt: AQUA has no debt compared to 5 years ago when its debt to equity ratio was 3.5%.


Balance Sheet

Inventory Level: AQUA has a low level of unsold assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if AQUA's debt is covered by short term assets.


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: AQUA is profitable, therefore cash runway is not a concern.

Forecast Cash Runway: AQUA is profitable, therefore cash runway is not a concern.


Next Steps

Dividend

What is AqualisBraemar's current dividend yield, its reliability and sustainability?

25.64%

Current Dividend Yield


Dividend Yield vs Market

company25.6%marketbottom25%3.0%markettop25%6.4%industryaverage5.7%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: AQUA's dividend (25.19%) is higher than the bottom 25% of dividend payers in the Norwegian market (3%).

High Dividend: AQUA's dividend (25.19%) is in the top 25% of dividend payers in the Norwegian market (6.42%)


Stability and Growth of Payments

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

Growing Dividend: AQUA has only been paying a dividend for 2 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (1.7%), AQUA's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

5.6yrs

Average board tenure


CEO

David Wells 0

US$351,000

Compensation

Captain David Wells serves as the Chief Executive Officer and Director of UK of Aqualis ASA. Mr. Wells served as the Head of Marine Consulting and Operations at GL Industrial Services UK Ltd. He served as ...


CEO Compensation Analysis

Compensation vs Market: David's total compensation ($USD351.00K) is about average for companies of similar size in the Norwegian market ($USD406.17K).

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


Board Members

NamePositionTenureCompensationOwnership
Reuben Segal
COO & Director5.6yrsUS$367.00k2.13% $5.9m
Synne Syrrist
Director7.1yrsno datano data
Glen Rødland
Chairman0yrsno data14.24% $39.1m
Ronald Series
Non-Executive Director0.4yrsno datano data
Yvonne Sandvold
Director7.1yrsno datano data
James Kidwell
Director0.7yrsno datano data

5.6yrs

Average Tenure

55yo

Average Age

Experienced Board: AQUA's board of directors are considered experienced (5.6 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: AQUA 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

AqualisBraemar ASA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: AqualisBraemar ASA
  • Ticker: AQUA
  • Exchange: OB
  • Founded: 2014
  • Industry: Oil and Gas Equipment and Services
  • Sector: Energy
  • Market Cap: kr274.624m
  • Shares outstanding: 70.42m
  • Website: https://www.aqualis.no

Number of Employees


Location

  • AqualisBraemar ASA
  • 6 Bevis Marks
  • London
  • EC3A 7BA
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AQUAOB (Oslo Bors)YesOrdinary SharesNONOKAug 2014
0QXFLSE (London Stock Exchange)YesOrdinary SharesGBNOKAug 2014
AQUAoBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBNOKAug 2014

Biography

AqualisBraemar ASA, an investment holding company, provides marine and engineering consultancy services to the offshore oil and gas industry and offshore renewables market worldwide. It offers marine and offshore engineering, marine warranty, offshore transportation and installation, offshore rig moving support, offshore rig inspection, construction supervision, and dynamic positioning services. The company also provides consultancy, jack-up, geotechnical, technical due diligence, and risk management services for offshore and marine markets. The company was formerly known as Aqualis ASA and changed its name to AqualisBraemar ASA in June 2019. AqualisBraemar ASA was founded in 2014 and is headquartered in London, the United Kingdom. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/26 23:12
End of Day Share Price2020/02/26 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.