OB:EIOF

Stock Analysis Report

Eidesvik Offshore

Executive Summary

Eidesvik Offshore ASA, a shipping company, operates ships in the supply, seismic, and subsea business areas.

Snowflake

Fundamentals

Mediocre balance sheet with questionable track record.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-3.7%

EIOF

-0.6%

NO Energy Services

-1.1%

NO Market


1 Year Return

-9.0%

EIOF

-22.1%

NO Energy Services

-2.5%

NO Market

Return vs Industry: EIOF exceeded the Norwegian Energy Services industry which returned -22.1% over the past year.

Return vs Market: EIOF underperformed the Norwegian Market which returned -2.5% over the past year.


Shareholder returns

EIOFIndustryMarket
7 Day-3.7%-0.6%-1.1%
30 Day-5.7%3.0%2.6%
90 Day9.1%15.3%9.1%
1 Year-9.0%-9.0%-20.6%-22.1%2.7%-2.5%
3 Year-20.0%-20.0%7.4%-0.7%41.1%23.4%
5 Year-80.4%-80.4%-30.8%-52.3%57.0%21.2%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

0.23x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: EIOF (NOK5.28) is trading above our estimate of fair value (NOK0.38)

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


Price To Earnings Ratio

PE vs Industry: EIOF is unprofitable, so we can't compare its PE Ratio to the Energy Services industry average.

PE vs Market: EIOF 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 EIOF's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: EIOF is good value based on its PB Ratio (0.2x) compared to the NO Energy Services industry average (0.6x).


Next Steps

Future Growth

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

43.0%

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 Eidesvik Offshore 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 Eidesvik Offshore performed over the past 5 years?

-17.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: EIOF has high quality earnings.

Growing Profit Margin: EIOF's current net profit margins (-26.4%) are higher than last year (-62.7%).


Past Earnings Growth Analysis

Earnings Trend: EIOF is unprofitable, and losses have increased over the past 5 years at a rate of -17.9% per year.

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

Earnings vs Industry: EIOF is unprofitable, making it difficult to compare its past year earnings growth to the Energy Services industry (14%).


Return on Equity

High ROE: EIOF has a negative Return on Equity (-12.83%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Eidesvik Offshore's financial position?


Financial Position Analysis

Short Term Liabilities: EIOF's short term assets (NOK967.8M) exceeds its short term liabilities (NOK225.6M)

Long Term Liabilities: EIOF's short term assets (967.8M) do not cover its long term liabilities (2.4B)


Debt to Equity History and Analysis

Debt Level: EIOF's debt to equity ratio (175.1%) is considered high

Reducing Debt: EIOF's debt to equity ratio has increased from 125% to 175.1% over the past 5 years.


Balance Sheet

Inventory Level: EIOF has a high level of physical assets or inventory.

Debt Coverage by Assets: EIOF's debt is not covered by short term assets (assets are 0.4x debt).


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 EIOF has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: EIOF is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -77.8% per year.


Next Steps

Dividend

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


Dividend Yield vs Market

company0%marketbottom25%2.5%markettop25%6.0%industryaverage4.4%forecastin3Yearsn/a

Current dividend yield vs market & industry

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

High Dividend: Unable to evaluate EIOF's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if EIOF's dividends per share have been stable in the past.

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


Current Payout to Shareholders

Dividend Coverage: EIOF is not paying a notable dividend for the Norwegian market.


Future Payout to Shareholders

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


Next Steps

Management

What is the CEO of Eidesvik Offshore's salary, the management and board of directors tenure and is there insider trading?

0.9yrs

Average board tenure


CEO

Jan Meling 0

0yrs

Tenure

kr2,092,645

Compensation

Mr. Jan Fredrik Meling serves as the Chief Executive Officer and President of Eidesvik Offshore ASA and served as its Managing Director and Director. 


Board Age and Tenure

0.9yrs

Average Tenure

Experienced Board: EIOF's board of directors are not considered experienced ( 0.9 years average tenure), which suggests a new board.


Insider Trading

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 45.6%.


Management Team

  • Jan Meling

    • Tenure: 0yrs
    • Compensation: kr2.09m
  • Jan Lodden

    Executive VP & COO

    • Tenure: 2.5yrs
    • Compensation: kr1.19m
  • Erling Lodden

    Vice President of Human Recources

    • Tenure: 0yrs
  • Tore Byberg (40yo)

    Chief Financial Officer

    • Tenure: 0.8yrs
  • Petter Lønning

    Chief Engineer & Employee representative Director

    • Tenure: 0.3yrs

Board Members

  • Synne Syrrist (47yo)

    Director

    • Tenure: 0yrs
  • Kolbein Rege

    Chairman of the Board

    • Tenure: 0yrs
  • Borgny Eidesvik

    Director

    • Tenure: 0yrs
  • Lars Eidesvik

    Director

    • Tenure: 0yrs
  • John Stangeland

    Director

    • Tenure: 3.2yrs
  • Lauritz Eidesvik

    Director

    • Tenure: 1.5yrs
  • Kristine Skeie

    Director

    • Tenure: 1.5yrs
  • Petter Lønning

    Chief Engineer & Employee representative Director

    • Tenure: 0.3yrs
  • Børre Lindanger

    Alternate Director

    • Tenure: 0.3yrs
  • Tore Hettervik

    Alternate Director

    • Tenure: 0.3yrs

Company Information

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


Key Information

  • Name: Eidesvik Offshore ASA
  • Ticker: EIOF
  • Exchange: OB
  • Founded:
  • Industry: Oil and Gas Equipment and Services
  • Sector: Energy
  • Market Cap: kr328.152m
  • Shares outstanding: 62.15m
  • Website: https://www.eidesvik.no

Number of Employees


Location

  • Eidesvik Offshore ASA
  • Vestvikveien 1
  • Bømlo
  • Hordaland
  • 5443
  • Norway

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
EIOFOB (Oslo Bors)YesOrdinary SharesNONOKApr 2005
E1VMUN (Boerse Muenchen)YesOrdinary SharesDEEURApr 2005
EIOFOBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBNOKApr 2005

Biography

Eidesvik Offshore ASA, a shipping company, operates ships in the supply, seismic, and subsea business areas. The company provides stable deliveries from the landfills onshore to offshore installations at s ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/14 20:51
End of Day Share Price2019/11/14 00:00
Earnings2019/06/30
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.