OB:DOF

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

DOF ASA, together with its subsidiaries, owns and operates a fleet of offshore vessels worldwide. More Details


Snowflake Analysis

Slightly overvalued with imperfect balance sheet.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: DOF is more volatile than 75% of Norwegian stocks over the past 3 months, typically moving +/- 12% a week.

Volatility Over Time: DOF's weekly volatility (12%) has been stable over the past year, but is still higher than 75% of Norwegian stocks.


Market Performance


7 Day Return

-10.1%

DOF

-0.6%

NO Energy Services

0.1%

NO Market


1 Year Return

-65.0%

DOF

-37.4%

NO Energy Services

-0.7%

NO Market

Return vs Industry: DOF underperformed the Norwegian Energy Services industry which returned -37.4% over the past year.

Return vs Market: DOF underperformed the Norwegian Market which returned -0.7% over the past year.


Shareholder returns

DOFIndustryMarket
7 Day-10.1%-0.6%0.1%
30 Day18.3%37.4%12.7%
90 Day-20.7%24.0%8.8%
1 Year-65.0%-65.0%-34.4%-37.4%2.9%-0.7%
3 Year-92.6%-92.6%-58.0%-61.0%10.3%-2.1%
5 Year-99.0%-99.1%-25.2%-47.4%57.9%26.7%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is DOF 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: DOF (NOK0.45) is trading below our estimate of fair value (NOK3.41)

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


Price To Earnings Ratio

PE vs Industry: DOF is unprofitable, so we can't compare its PE Ratio to the NO Energy Services industry average.

PE vs Market: DOF is unprofitable, so we can't compare its PE Ratio to the Norwegian market.


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: DOF has negative assets, so we can't compare its PB Ratio to the NO Energy Services industry average.


Next Steps

Future Growth

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

97.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: DOF is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: DOF is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: DOF is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: Insufficient data to determine if DOF's revenue is forecast to grow faster than the Norwegian market.

High Growth Revenue: Insufficient data to determine if DOF's revenue 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 DOF's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has DOF performed over the past 5 years?

-61.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: DOF is currently unprofitable.

Growing Profit Margin: DOF is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: DOF is unprofitable, and losses have increased over the past 5 years at a rate of 61.1% per year.

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

Earnings vs Industry: DOF is unprofitable, making it difficult to compare its past year earnings growth to the Energy Services industry (-41.5%).


Return on Equity

High ROE: DOF's liabilities exceed its assets, so it is difficult to calculate its Return on Equity.


Next Steps

Financial Health

How is DOF's financial position?


Financial Position Analysis

Short Term Liabilities: DOF has negative shareholder equity, which is a more serious situation than short term assets not covering short term liabilities.

Long Term Liabilities: DOF has negative shareholder equity, which is a more serious situation than short term assets not covering long term liabilities.


Debt to Equity History and Analysis

Debt Level: DOF has negative shareholder equity, which is a more serious situation than a high debt level.

Reducing Debt: DOF's has negative shareholder equity, so we do not need to check if its debt has reduced over time.


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: Whilst unprofitable DOF has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: DOF is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 63.3% per year.


Next Steps

Dividend

What is DOF current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

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

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

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


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of DOF's dividend in 3 years as they are not forecast to pay a notable one for the Norwegian market.


Next Steps

Management

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

4.4yrs

Average board tenure


CEO

Mons Aase (54 yo)

15.92yrs

Tenure

kr7,698,000

Compensation

Mr. Mons Svendal Aase has been the Chief Executive Officer of DOF Subsea AS since 2005 and has been a part of Management team since 1998 and served as its Managing Director since January 1, 2005. He has va...


CEO Compensation Analysis

Compensation vs Market: Mons's total compensation ($USD871.81K) is above average for companies of similar size in the Norwegian market ($USD368.69K).

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


Board Members

NamePositionTenureCompensationOwnership
Kathryn Baker
Director4.42yrsno datano data
Helge Singelstad
Deputy Chairmanno datano data0.14%
NOK 187.8k
Marianne Møgster
Director4.42yrsno data1.84%
NOK 2.6m
Hans Lindal
Chairman of the Board0.58yrno datano data

4.4yrs

Average Tenure

56.5yo

Average Age

Experienced Board: DOF's board of directors are considered experienced (4.4 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 been diluted in the past year, with total shares outstanding growing by 2.7%.


Top Shareholders

Company Information

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


Key Information

  • Name: DOF ASA
  • Ticker: DOF
  • Exchange: OB
  • Founded: 1981
  • Industry: Oil and Gas Equipment and Services
  • Sector: Energy
  • Market Cap: kr138.879m
  • Shares outstanding: 308.96m
  • Website: https://www.dof.no

Number of Employees


Location

  • DOF ASA
  • Alfabygget
  • Storebø
  • Hordaland
  • 5392
  • Norway

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
DOFOB (Oslo Bors)YesOrdinary SharesNONOKOct 2000
0HMMLSE (London Stock Exchange)YesOrdinary SharesGBNOKOct 2000
4D6DB (Deutsche Boerse AG)YesOrdinary SharesDEEUROct 2000
DFAS.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDOct 2000
DOFOBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBNOKOct 2000

Biography

DOF ASA, together with its subsidiaries, owns and operates a fleet of offshore vessels worldwide. The company operates through three segments: Platform Supply Vessel (PSV), Anchor Handling Tug Supply Vesse...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/12/03 17:20
End of Day Share Price2020/12/02 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.