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Avance Gas Holding

OB:AVANCE
Snowflake Description

Reasonable growth potential and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AVANCE
OB
NOK1B
Market Cap
  1. Home
  2. NO
  3. Energy
Company description

Avance Gas Holding Limited, together with its subsidiaries, engages in the transportation of liquefied petroleum gas (LPG) worldwide. The last earnings update was 42 days ago. More info.


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  • Avance Gas Holding has significant price volatility in the past 3 months.
AVANCE Share Price and Events
7 Day Returns
-16.2%
OB:AVANCE
0.3%
NO Oil and Gas
-5.3%
NO Market
1 Year Returns
9.7%
OB:AVANCE
-20.9%
NO Oil and Gas
-21.1%
NO Market
AVANCE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Avance Gas Holding (AVANCE) -16.2% 7% 50.4% 9.7% -7.7% -85.3%
NO Oil and Gas 0.3% -1.2% -12% -20.9% 27.4% -6.3%
NO Market -5.3% -8.4% -14.4% -21.1% 29.8% 9.7%
1 Year Return vs Industry and Market
  • AVANCE outperformed the Oil and Gas industry which returned -20.9% over the past year.
  • AVANCE outperformed the Market in Norway which returned -21.1% over the past year.
Price Volatility
AVANCE
Industry
5yr Volatility vs Market

Value

 Is Avance Gas Holding 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 Avance Gas Holding 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

Below are the data sources, inputs and calculation used to determine the intrinsic value for Avance Gas Holding.

OB:AVANCE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 13.7%
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:AVANCE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year NO Govt Bond Rate 1.8%
Equity Risk Premium S&P Global 6%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.92
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.917 (1 + (1- 23%) (302.75%))
2.376
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.76% + (2 * 5.96%)
13.68%

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

The calculations below outline how an intrinsic value for Avance Gas Holding 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:AVANCE DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 13.68%)
2019 50.15 Analyst x4 44.12
2020 56.32 Analyst x5 43.58
2021 84.80 Analyst x5 57.72
2022 109.22 Est @ 28.8% 65.40
2023 131.82 Est @ 20.69% 69.43
2024 151.61 Est @ 15.01% 70.24
2025 168.34 Est @ 11.03% 68.61
2026 182.23 Est @ 8.25% 65.33
2027 193.72 Est @ 6.3% 61.10
2028 203.29 Est @ 4.94% 56.40
Present value of next 10 years cash flows $601.93
OB:AVANCE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $203.29 × (1 + 1.76%) ÷ (13.68% – 1.76%)
$1,735.45
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $1,735.45 ÷ (1 + 13.68%)10
$481.47
OB:AVANCE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $601.93 + $481.47
$1,083.41
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,083.41 / 63.66
$17.02
OB:AVANCE Discount to Share Price
Calculation Result
Exchange Rate USD/NOK
(Reporting currency to currency of OB:AVANCE)
8.488
Value per Share
(NOK)
= Value per Share in USD x Exchange Rate (USD/NOK)
= $17.02 x 8.488
NOK144.46
Value per share (NOK) From above. NOK144.46
Current discount Discount to share price of NOK22.80
= -1 x (NOK22.80 - NOK144.46) / NOK144.46
84.2%

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

Current Discount
Amount off the current price Avance Gas Holding is available for.
Intrinsic value
>50%
Share price is NOK22.8 vs Future cash flow value of NOK144.46
Current Discount Checks
For Avance Gas Holding to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Avance Gas Holding's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Avance Gas Holding'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 Avance Gas Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Avance Gas Holding's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OB:AVANCE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-0.73
OB:AVANCE Share Price ** OB (2019-06-26) in NOK NOK22.8
OB:AVANCE Share Price converted to USD reporting currency Exchange rate (NOK/ USD) 0.118 $2.69
Norway Oil and Gas Industry PE Ratio Median Figure of 7 Publicly-Listed Oil and Gas Companies 8.28x
Norway Market PE Ratio Median Figure of 135 Publicly-Listed Companies 13x

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

** Primary Listing of Avance Gas Holding.

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

= OB:AVANCE Share Price ÷ EPS (both in USD)

= 2.69 ÷ -0.73

-3.69x

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

  • Avance Gas Holding is loss making, we can't compare its value to the NO Oil and Gas industry average.
  • Avance Gas Holding is loss making, we can't compare the value of its earnings to the Norway market.
Price based on expected Growth
Does Avance Gas Holding's expected growth come at a high price?
Raw Data
OB:AVANCE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -3.69x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
82.9%per year
Norway Oil and Gas Industry PEG Ratio Median Figure of 5 Publicly-Listed Oil and Gas Companies 0.63x
Norway Market PEG Ratio Median Figure of 105 Publicly-Listed Companies 0.87x

*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 Avance Gas Holding, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Avance Gas Holding's assets?
Raw Data
OB:AVANCE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $5.43
OB:AVANCE Share Price * OB (2019-06-26) in NOK NOK22.8
OB:AVANCE Share Price converted to USD reporting currency Exchange rate (NOK/ USD) 0.118 $2.69
Norway Oil and Gas Industry PB Ratio Median Figure of 15 Publicly-Listed Oil and Gas Companies 0.64x
Norway Market PB Ratio Median Figure of 216 Publicly-Listed Companies 1.1x
OB:AVANCE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OB:AVANCE Share Price ÷ Book Value per Share (both in USD)

= 2.69 ÷ 5.43

0.49x

* Primary Listing of Avance Gas Holding.

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

  • Avance Gas Holding is good value based on assets compared to the NO Oil and Gas industry average.
X
Value checks
We assess Avance Gas Holding'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 Oil and Gas 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 Oil and Gas industry average (and greater than 0)? (1 check)
  5. Avance Gas Holding has a total score of 3/6, 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 Avance Gas Holding expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

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
82.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Avance Gas Holding expected to grow at an attractive rate?
  • Avance Gas Holding's earnings growth is expected to exceed the low risk savings rate of 1.8%.
Growth vs Market Checks
  • Avance Gas Holding's earnings growth is expected to exceed the Norway market average.
  • Avance Gas Holding's revenue growth is expected to exceed the Norway market average.
Annual Growth Rates Comparison
Raw Data
OB:AVANCE Future Growth Rates Data Sources
Data Point Source Value (per year)
OB:AVANCE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 82.9%
OB:AVANCE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 11.7%
Norway Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 12.8%
Norway Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 6%
Norway Market Earnings Growth Rate Market Cap Weighted Average 14.9%
Norway Market Revenue Growth Rate Market Cap Weighted Average 3.8%

*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:AVANCE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OB:AVANCE Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 157 88 52 5
2020-12-31 134 68 36 5
2019-12-31 119 54 3 5
OB:AVANCE Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 129 -3 -46
2018-12-31 130 -6 -43
2018-09-30 111 -22 -54
2018-06-30 97 -26 -64
2018-03-31 111 -13 -54
2017-12-31 113 -12 -55
2017-09-30 116 -8 -55
2017-06-30 119 20 -97
2017-03-31 115 22 -102
2016-12-31 144 85 -68
2016-09-30 200 135 -9
2016-06-30 284 181 125

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Avance Gas Holding's earnings are expected to grow significantly at over 20% yearly.
  • Avance Gas Holding's revenue is expected to grow by 11.7% yearly, however this is not considered high growth (20% yearly).
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:AVANCE 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 5 Analyst Estimates (S&P Global) See Below

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

OB:AVANCE Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.83 1.10 0.68 5.00
2020-12-31 0.57 0.70 0.35 4.00
2019-12-31 0.05 0.24 -0.15 6.00
OB:AVANCE Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -0.73
2018-12-31 -0.68
2018-09-30 -0.86
2018-06-30 -1.00
2018-03-31 -0.84
2017-12-31 -0.86
2017-09-30 -0.89
2017-06-30 -1.83
2017-03-31 -2.22
2016-12-31 -1.74
2016-09-30 -0.26
2016-06-30 3.60

*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.
  • Avance Gas Holding is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Avance Gas Holding'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 Norway market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Norway 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.
Avance Gas Holding has a total score of 4/6, 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 Avance Gas Holding 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 Avance Gas Holding's growth in the last year to its industry (Oil and Gas).
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.
  • Avance Gas Holding does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Avance Gas Holding's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Avance Gas Holding's 1-year growth to the NO Oil and Gas industry average as it is not currently profitable.
Earnings and Revenue History
Avance Gas Holding'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 Avance Gas Holding Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:AVANCE Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 128.68 -46.09 4.96
2018-12-31 129.94 -43.22 4.98
2018-09-30 110.80 -54.26 5.00
2018-06-30 96.69 -63.81 5.02
2018-03-31 110.76 -53.77 5.06
2017-12-31 112.99 -54.56 5.54
2017-09-30 115.56 -54.95 5.32
2017-06-30 119.39 -97.27 5.73
2017-03-31 115.18 -102.37 6.15
2016-12-31 143.92 -68.16 6.47
2016-09-30 200.24 -9.00 7.51
2016-06-30 284.46 124.56 7.21
2016-03-31 322.62 180.41 7.92
2015-12-31 310.87 183.16 7.84
2014-12-31 166.53 75.48 7.24
2014-08-31 148.19 58.20 6.49
2014-05-31 130.87 36.74 5.77
2014-02-28 121.25 22.07 4.71
2013-11-30 115.00 11.50 4.13
2012-11-30 97.56 -0.28 3.75

*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.
  • It is difficult to establish if Avance Gas Holding has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Avance Gas Holding has efficiently used its assets last year compared to the NO Oil and Gas industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Avance Gas Holding 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 Avance Gas Holding'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 Oil and Gas 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.
Avance Gas Holding 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 Avance Gas Holding'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 Avance Gas Holding's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Avance Gas Holding's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Avance Gas Holding's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Avance Gas Holding'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.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x 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 Avance Gas Holding Company Filings, last reported 2 months ago.

OB:AVANCE Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 345.39 517.68 65.16
2018-12-31 364.57 493.85 47.29
2018-09-30 372.15 497.31 42.56
2018-06-30 378.76 502.54 56.21
2018-03-31 395.75 483.61 47.13
2017-12-31 401.52 495.11 62.32
2017-09-30 412.71 488.68 58.11
2017-06-30 429.10 485.05 64.88
2017-03-31 443.46 486.81 64.73
2016-12-31 456.96 566.73 149.06
2016-09-30 396.57 593.90 87.78
2016-06-30 456.20 580.58 57.25
2016-03-31 487.30 584.94 71.18
2015-12-31 499.95 608.94 70.03
2014-12-31 508.50 183.45 162.28
2014-08-31 507.35 189.75 162.84
2014-05-31 485.70 194.91 155.06
2014-02-28 398.62 198.51 64.16
2013-11-30 392.37 202.96 199.88
2012-11-30 112.21 409.59 30.23
  • Avance Gas Holding's level of debt (149.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (46% vs 149.9% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Unable to confirm if the interest payments on Avance Gas Holding's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Avance Gas Holding'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. Avance Gas Holding has a total score of 0/6, 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 Avance Gas Holding'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 Avance Gas Holding dividends. Estimated to be 2.13% next year.
If you bought NOK2,000 of Avance Gas Holding 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 Avance Gas Holding's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Avance Gas Holding'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:AVANCE 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 5 Analyst Estimates (S&P Global) See Below
Europe Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 58 Stocks 5.6%
Norway Market Average Dividend Yield Market Cap Weighted Average of 110 Stocks 4.5%
Norway Minimum Threshold Dividend Yield 10th Percentile 1.9%
Norway Bottom 25% Dividend Yield 25th Percentile 2.5%
Norway Top 25% Dividend Yield 75th Percentile 6.5%

Industry and Market average data is calculated daily.

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

OB:AVANCE Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.09 6.00
2020-12-31 0.08 6.00
2019-12-31 0.00 6.00
OB:AVANCE Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-04-25 0.000 0.000
2018-02-15 0.000 0.000
2017-11-09 0.000 0.000
2017-08-29 0.000 0.000
2017-05-16 0.000 0.000
2017-03-30 0.000 0.000
2017-02-14 0.000 0.000
2016-10-20 0.000 0.000
2016-08-24 0.000 0.000
2016-04-26 4.660 132.747
2016-02-09 4.660 61.176
2015-04-30 2.720 19.490
2015-02-26 2.720 18.481
2014-06-25 1.200 6.654
2014-04-29 2.000 9.191

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

  • Unable to perform a dividend volatility check as Avance Gas Holding has not reported any payouts.
  • Unable to verify if Avance Gas Holding's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Avance Gas Holding's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Avance Gas Holding has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (7.7x coverage).
X
Income/ dividend checks
We assess Avance Gas Holding's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.9%) - 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 Avance Gas Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Avance Gas Holding has a total score of 1/6, 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 Avance Gas Holding'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
Peder Carl Simonsen
COMPENSATION $0
AGE 44
CEO Bio

Mr. Peder Carl Gram Simonsen has been the Chief Financial Officer at Avance Gas Holding Ltd. since January 2014 and serves as its Interim Chief Executive Officer. Mr. Simonsen served as First Vice President at Nordea Bank Norge ASA, where he worked as Senior Client Executive for large shipping and offshore companies. He serves as a Director of Happy Chair AS. He holds a B.A. (Hons) in Business Administration from the University of Stirling and a Master of Business degree in 2000.

CEO Compensation
  • Insufficient data for Peder Carl to compare compensation growth.
  • Insufficient data for Peder Carl to establish whether their remuneration is reasonable compared to companies of similar size in Norway.
Management Team

Peder Carl Simonsen

TITLE
CFO & Interim CEO
AGE
44

Kenneth Aasvang

TITLE
Operations Manager
AGE
48
TENURE
8.1 yrs

Goril Gleditsch

TITLE
Technical Manager
AGE
37
TENURE
5.4 yrs
Board of Directors Tenure

Average tenure and age of the Avance Gas Holding board of directors in years:

5.2
Average Tenure
53
Average Age
  • The tenure for the Avance Gas Holding board of directors is about average.
Board of Directors

Marius Hermansen

TITLE
Chairman of the Board
AGE
39
TENURE
0.9 yrs

Jan Kastrup-Nielsen

TITLE
Director
AGE
61
TENURE
5.2 yrs

François Sunier

TITLE
Director
COMPENSATION
$10K
AGE
53
TENURE
8.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (NOK) Value (NOK)
01. Mar 19 Buy Peder Carl Simonsen Individual 01. Mar 19 01. Mar 19 7,700 NOK13.92 NOK107,184
01. Mar 19 Buy Christian Andersen Individual 01. Mar 19 01. Mar 19 80,000 NOK13.97 NOK1,117,600
14. Feb 19 Buy Christian Andersen Individual 14. Feb 19 14. Feb 19 80,000 NOK14.57 NOK1,165,600
19. Dec 18 Buy Greenwich Holdings Ltd. Company 19. Dec 18 19. Dec 18 670,317 NOK12.50 NOK8,378,962
X
Management checks
We assess Avance Gas Holding'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. Avance Gas Holding 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

If You Had Bought Avance Gas Holding (OB:AVANCE) Stock Five Years Ago, You'd Be Sitting On A 83% Loss, Today

Over half a decade Avance Gas Holding reduced its trailing twelve month revenue by 13% for each year. … Avance Gas Holding's TSR over the last 5 years is -71%; better than its share price return. … A Different Perspective We're pleased to report that Avance Gas Holding shareholders have received a total shareholder return of 18% over one year.

Simply Wall St -

Market Sentiment Around Loss-Making Avance Gas Holding Ltd (OB:AVANCE)

Avance Gas Holding Ltd's (OB:AVANCE):. … Avance Gas Holding Limited, together with its subsidiaries, engages in the transportation of liquefied petroleum gas (LPG) worldwide. … I’ve put together a brief outline of industry analyst expectations for AVANCE, its year of breakeven and its implied growth rate

Simply Wall St -

Avance Gas Holding Ltd (OB:AVANCE) Insiders Increased Their Holdings

Avance Gas Holding Insider Transactions Over The Last Year. … Happily, we note that in the last year insiders bought 167.70k shares for a total of øre2.4m … In total, Avance Gas Holding insiders bought more than they sold over the last year

Simply Wall St -

Are Avance Gas Holding Ltd's (OB:AVANCE) Interest Costs Too High?

Avance Gas Holding Ltd (OB:AVANCE) is a small-cap stock with a market capitalization of øre866m. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … Since AVANCE is loss-making right now,

Simply Wall St -

The Avance Gas Holding Share Price Is Down 87% So Some Shareholders Are Rather Upset

Avance Gas Holding Ltd (OB:AVANCE) shareholders should be happy to see the share price up 16% in the last month. … By comparing earnings per share (EPS) and and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … Over five years Avance Gas Holding improved its earnings per share from a loss-making position.

Simply Wall St -

Could Avance Gas Holding Ltd's (OB:AVANCE) Investor Composition Influence The Stock Price?

Every investor in Avance Gas Holding Ltd (OB:AVANCE) should be aware of the most powerful shareholder groups. … We also tend to see lower insider ownership in companies that were previously publicly owned. … Taking a look at the our data on the ownership groups (below), it's seems that

Simply Wall St -

Is Avance Gas Holding Ltd (OB:AVANCE) A Volatile Stock?

Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … Before we go on, it's worth noting that Warren Buffett pointed out in his 2014 letter to shareholders that 'volatility is far from synonymous with risk.' Having said that, beta can still be rather useful.

Simply Wall St -

Is Avance Gas Holding Ltd's (OB:AVANCE) Balance Sheet Strong Enough To Weather A Storm?

Avance Gas Holding Ltd (OB:AVANCE) is a small-cap stock with a market capitalization of øre1.2b. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … Evaluating financial health as part of your investment thesis is

Simply Wall St -

Who Are The Major Shareholders In Avance Gas Holding Ltd (OB:AVANCE)?

The big shareholder groups in Avance Gas Holding Ltd (OB:AVANCE) have power over the company. … Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … Avance Gas Holding is not a large company by global standards.

Simply Wall St -

Avance Gas Holding Ltd (OB:AVANCE): Risks You Need To Consider Before Buying

Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … Before we go on, it's worth noting that Warren Buffett pointed out in his 2014 letter to shareholders that 'volatility is far from synonymous with risk.' Having said that, beta can still be rather useful.

Simply Wall St -

Company Info

Description

Avance Gas Holding Limited, 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 Gulf/the United States East Coast to destinations in Europe, South America, and Asia. As of December 31, 2018, it operated through a fleet of 14 very large gas carriers. The company was founded in 2007 and is based in Oslo, Norway.

Details
Name: Avance Gas Holding Ltd
AVANCE
Exchange: OB
Founded: 2007
NOK1,451,364,392
63,656,333
Website: http://www.avancegas.com
Address: Avance Gas Holding Ltd
Bryggegata 3,
PO Box 1327,
Oslo,
Oslo, 0112,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB AVANCE Common Shares Oslo Bors NO NOK 17. Oct 2013
OTCPK AVAC.F Common Shares Pink Sheets LLC US USD 17. Oct 2013
LSE 0QTX Common Shares London Stock Exchange GB NOK 17. Oct 2013
BATS-CHIXE AVANCO Common Shares BATS 'Chi-X Europe' GB NOK 17. Oct 2013
Number of employees
Current staff
Staff numbers
11
Avance Gas Holding employees.
Industry
Oil and Gas Storage and Transportation
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/26 21:51
End of day share price update: 2019/06/26 00:00
Last estimates confirmation: 2019/06/24
Last earnings filing: 2019/05/15
Last earnings reported: 2019/03/31
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.