OB:MSEIS

Stock Analysis Report

Magseis Fairfield

Executive Summary

Magseis Fairfield ASA, a geophysical survey company, engages in the marine seismic operations and seismic related activities.

Snowflake

Fundamentals

Excellent balance sheet and fair value.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-46.1%

MSEIS

1.0%

NO Energy Services

0.07%

NO Market


1 Year Return

-70.8%

MSEIS

-31.5%

NO Energy Services

-8.7%

NO Market

Return vs Industry: MSEIS underperformed the Norwegian Energy Services industry which returned -31.5% over the past year.

Return vs Market: MSEIS underperformed the Norwegian Market which returned -8.7% over the past year.


Shareholder returns

MSEISIndustryMarket
7 Day-46.1%1.0%0.07%
30 Day-44.6%-4.6%-1.9%
90 Day-52.6%-3.2%2.1%
1 Year-70.8%-70.8%-30.2%-31.5%-3.9%-8.7%
3 Year-59.1%-59.4%2.5%-4.4%40.2%21.9%
5 Year-78.3%-79.3%-29.6%-51.1%59.2%22.5%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: MSEIS (NOK5.36) is trading below our estimate of fair value (NOK54.81)

Significantly Undervalued: MSEIS is trading below fair value by more than 20%.


Price To Earnings Ratio

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

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


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: MSEIS is good value based on its PB Ratio (0.3x) compared to the NO Energy Services industry average (0.6x).


Next Steps

Future Growth

How is Magseis Fairfield forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

40.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

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

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

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

Revenue vs Market: MSEIS's revenue (9.5% per year) is forecast to grow faster than the Norwegian market (4.7% per year).

High Growth Revenue: MSEIS's revenue (9.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: MSEIS's Return on Equity is forecast to be low in 3 years time (11.9%).


Next Steps

Past Performance

How has Magseis Fairfield performed over the past 5 years?

19.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: MSEIS is unprofitable, but has reduced losses over the past 5 years at a rate of 19.2% per year.

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

Earnings vs Industry: MSEIS is unprofitable, making it difficult to compare its past year earnings growth to the Energy Services industry (5%).


Return on Equity

High ROE: MSEIS has a negative Return on Equity (-0.75%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: MSEIS is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: MSEIS is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is Magseis Fairfield's financial position?


Financial Position Analysis

Short Term Liabilities: MSEIS's short term assets ($266.1M) exceeds its short term liabilities ($186.5M)

Long Term Liabilities: MSEIS's short term assets (266.1M) exceeds its long term liabilities (57.8M)


Debt to Equity History and Analysis

Debt Level: MSEIS's debt to equity ratio (17.9%) is considered satisfactory

Reducing Debt: MSEIS's debt to equity ratio has increased from 0% to 17.9% over the past 5 years.


Balance Sheet

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

Debt Coverage by Assets: MSEIS's debt is covered by short term assets (assets are 4.378130x 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 MSEIS has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: MSEIS is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 20.6% per year.


Next Steps

Dividend

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


Dividend Yield vs Market

companyn/amarketbottom25%2.6%markettop25%6.2%industryaverage4.5%forecastin3Years0%

Current dividend yield vs market & industry


Stability and Growth of Payments

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

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

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

Growing Dividend: Insufficient data to determine if MSEIS'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 MSEIS'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 Magseis Fairfield's salary, the management and board of directors tenure and is there insider trading?

2.1yrs

Average management tenure


CEO

Carel Hooijkaas 0

0yrs

Tenure

0

Mr. Carel Hooijkaas serves as Chief Executive Officer of Magseis ASA since October 1, 2019. Mr. Hooijkaas has experience in the oilfield services and equipment industry. Most recently, he was responsible f ...


Management Age and Tenure

2.1yrs

Average Tenure

Experienced Management: MSEIS's management team is considered experienced (2.1 years average tenure).


Board Age and Tenure

0.8yrs

Average Tenure

50.5yo

Average Age

Experienced Board: MSEIS's board of directors are not considered experienced ( 0.8 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.


Recent Insider Transactions

BuyUS$359,25005 Mar 19
Geo Innova AS
EntityCompany
Shares25,000
Max PriceUS$14.37
BuyUS$13,745,17319 Dec 18
Incentive AS
EntityCompany
Shares922,495
Max PriceUS$14.90

Ownership Breakdown


Management Team

  • Ivar Gimse

    Co-Founder & Executive VP of Business Development

    • Tenure: 2.8yrs
    • Compensation: US$275.00k
  • Jan Gateman

    Co-Founder

    • Tenure: 10.8yrs
    • Compensation: US$2.00k
  • Bjørn Jensen

    Chief Operating Officer of Eastern Hemisphere

    • Tenure: 0yrs
    • Compensation: US$183.00k
  • Cathrin Bretzeg

    Senior Vice President of Human Resources

    • Tenure: 2.3yrs
    • Compensation: US$154.00k
  • Nils Heieren

    Chief Technology Officer

    • Tenure: 0yrs
    • Compensation: US$180.00k
  • Hélène Dessagne

    General Counsel

    • Tenure: 2.1yrs
    • Compensation: US$143.00k
  • Mark Ivin (54yo)

    Chief Financial Officer

    • Tenure: 0.08yrs
  • Andrè Bjørvik

    Senior Vice President of Multi-client

    • Tenure: 0.6yrs
    • Compensation: US$186.62k
  • Tom Scoulios

    Chief Operating Officer Western Hemisphere

    • Tenure: 0yrs
  • Carel Hooijkaas

    Chief Executive Officer

    • Tenure: 0yrs

Board Members

  • Wenche Kjølås (57yo)

    Director

    • Tenure: 0.8yrs
  • Jan Gateman

    Co-Founder

    • Tenure: 10.8yrs
    • Compensation: US$2.00k
  • Edvin Endresen (47yo)

    Non-Executive Director

    • Tenure: 1.4yrs
  • Chuck Davison (50yo)

    Chairman

    • Tenure: 0.8yrs
  • Angela Durkin (51yo)

    Director

    • Tenure: 0.8yrs
  • Bettina Bachmann

    Non-Executive Director

    • Tenure: 5.8yrs
  • Luis Araujo

    Director

    • Tenure: 0.8yrs

Company Information

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


Key Information

  • Name: Magseis Fairfield ASA
  • Ticker: MSEIS
  • Exchange: OB
  • Founded: 2009
  • Industry: Oil and Gas Equipment and Services
  • Sector: Energy
  • Market Cap: kr992.514m
  • Shares outstanding: 185.17m
  • Website: https://www.magseis.com

Number of Employees


Location

  • Magseis Fairfield ASA
  • Strandveien 50
  • Lysaker
  • Akershus
  • 1366
  • Norway

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MSEISOB (Oslo Bors)YesOrdinary SharesNONOKDec 2012
5M6DB (Deutsche Boerse AG)YesOrdinary SharesDEEURDec 2012
0QWELSE (London Stock Exchange)YesOrdinary SharesGBNOKDec 2012

Biography

Magseis Fairfield ASA, a geophysical survey company, engages in the marine seismic operations and seismic related activities. The company provides ocean bottom seismic (OBS) acquisition services to clients ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/19 21:37
End of Day Share Price2019/10/18 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.