Havila Shipping Valuation

Is HAVI undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of HAVI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: HAVI (NOK2.69) is trading below our estimate of fair value (NOK133.08)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for HAVI?

Key metric: As HAVI is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for HAVI. This is calculated by dividing HAVI's market cap by their current revenue.
What is HAVI's PS Ratio?
PS Ratio	0.1x
Sales	NOK 585.68m
Market Cap	NOK 61.82m

HAVI key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	2.2x
Enterprise Value/EBITDA	4.9x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does HAVI's PS Ratio compare to its peers?

The above table shows the PS ratio for HAVI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	2.3x
IOTA Independent Oil & Resources	8.5x	n/a	NOK 116.9m
PRS Prosafe	0.2x	25.8%	NOK 230.5m
DOFI DOF Installer	0.4x	n/a	NOK 135.7m
DWELLOP Dwellop	0.09x	n/a	NOK 14.2m
HAVI Havila Shipping	0.1x	n/a	NOK 61.8m

Price-To-Sales vs Peers: HAVI is good value based on its Price-To-Sales Ratio (0.1x) compared to the peer average (2.9x).

Price to Sales Ratio vs Industry

How does HAVI's PS Ratio compare vs other companies in the NO Energy Services Industry?

2 Companies	Price / Sales	Estimated Growth	Market Cap
Industry Avg.	1.1x	4.1%
HAVI Havila Shipping	0.1x	n/a	US$5.60m
DWELLOP Dwellop	0.09x	n/a	US$1.28m

No more companies available in this PS range

2 Companies		Estimated Growth	Market Cap
Industry Avg.	1.1x	29.9%
HAVI Havila Shipping	0.1x	n/a	US$5.60m

No more companies

Price-To-Sales vs Industry: HAVI is good value based on its Price-To-Sales Ratio (0.1x) compared to the Norwegian Energy Services industry average (1.1x).

Price to Sales Ratio vs Fair Ratio

What is HAVI's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

HAVI PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.1x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate HAVI's Price-To-Sales Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

Discover undervalued companies

Frontline

US$4.3b

A shipping company, engages in the seaborne transportation of crude oil and oil products worldwide.

FRO

US$219.10

4.8%

-8.5%

Aker BP

NOK 142.8b

Explores for, develops, and produces oil and gas on the Norwegian Continental Shelf.

AKRBP

NOK 225.80

1.0%

-28.2%

Seacrest Petroleo Bermuda

NOK 112.8m

An independent oil and gas production company, engages in the redevelopment of midlife onshore producing oil and gas fields in Brazil.

SEAPT

NOK 0.24

-7.7%

-97.8%