OB:OTS

Stock Analysis Report

Executive Summary

Oceanteam ASA operates as an offshore shipping company in the Gulf of Mexico, Latin America, West Africa, and the Asia-Pacific.


Snowflake Analysis

Mediocre balance sheet with questionable track record.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: OTS's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

4.2%

OTS

0.8%

NO Energy Services

6.4%

NO Market


1 Year Return

-57.1%

OTS

-67.9%

NO Energy Services

-25.4%

NO Market

Return vs Industry: OTS exceeded the Norwegian Energy Services industry which returned -69% over the past year.

Return vs Market: OTS underperformed the Norwegian Market which returned -27.6% over the past year.


Shareholder returns

OTSIndustryMarket
7 Day4.2%0.8%6.4%
30 Day-19.7%-47.6%-15.2%
90 Day-34.1%-62.9%-25.0%
1 Year-57.1%-57.1%-67.0%-67.9%-21.4%-25.4%
3 Year-96.4%-96.4%-65.3%-67.8%1.1%-11.7%
5 Year-97.6%-97.6%-59.3%-74.4%15.0%-10.7%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

21.25x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: OTS (NOK3.23) is trading above our estimate of fair value (NOK0.44)

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


Price To Earnings Ratio

PE vs Industry: OTS is poor value based on its PE Ratio (21.2x) compared to the Energy Services industry average (6.6x).

PE vs Market: OTS is poor value based on its PE Ratio (21.2x) compared to the Norwegian market (9.7x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

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


Next Steps

Future Growth

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

40.2%

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 Oceanteam 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 Oceanteam performed over the past 5 years?

6.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: OTS has a large one-off gain of $1.9M impacting its June 30 2019 financial results.

Growing Profit Margin: OTS became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: OTS has become profitable over the past 5 years, growing earnings by 6.3% per year.

Accelerating Growth: OTS has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: OTS has become profitable in the last year, making it difficult to compare its past year earnings growth to the Energy Services industry (-28.5%).


Return on Equity

High ROE: OTS's Return on Equity (4.1%) is considered low.


Next Steps

Financial Health

How is Oceanteam's financial position?


Financial Position Analysis

Short Term Liabilities: OTS's short term assets ($14.6M) do not cover its short term liabilities ($35.5M).

Long Term Liabilities: OTS has no long term liabilities.


Debt to Equity History and Analysis

Debt Level: OTS's debt to equity ratio (32%) is considered satisfactory.

Reducing Debt: OTS's debt to equity ratio has reduced from 107.6% to 32% over the past 5 years.


Balance Sheet

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

Debt Coverage by Assets: OTS's debt is not covered by short term assets (assets are 0.5x 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: OTS is profitable, therefore cash runway is not a concern.

Forecast Cash Runway: Insufficient data to determine if OTS has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

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


Dividend Yield vs Market

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

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

Growing Dividend: Insufficient data to determine if OTS'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 OTS'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?

1.7yrs

Average management tenure


CEO

Henk van den Ijssel (57yo)

no data

Tenure

Mr. Henk van den Ijssel is Chief Executive Officer at Oceanteam ASA since February 1, 2020. Mr.van den Ijssel was CCO at DeepOcean Group . Mr. van den Ijssel served as a Commercial Director of Cecon ASA an ...


Leadership Team

NamePositionTenureCompensationOwnership
Hendrik Hazenoot
Interim Chief Financial Officer1.58yrsUS$245.17kno data
Diederik Legger
1.42yrsUS$147.67kno data
Meindert van Genderen
1.83yrsUS$506.03kno data
Henk van den Ijssel
Chief Executive Officerno datano datano data
Marc Groenendijk
Managing Directorno datano datano data
Tsonka Rangelova
Corporate Counsel & Secretary4.25yrsno datano data
Jan Willem Bloois
Director of Sales & Marketingno datano datano data

1.7yrs

Average Tenure

56yo

Average Age

Experienced Management: OTS's management team is not considered experienced ( 1.7 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Kornelis Cordia
Chairman of the Board1.83yrsUS$34.00kno data
Karin Govaert
Director1.83yrsUS$26.00kno data
Jan-Hein Jesse
Director1.67yrsUS$17.00kno data

1.8yrs

Average Tenure

51yo

Average Age

Experienced Board: OTS's board of directors are not considered experienced ( 1.8 years average tenure), which suggests a new board.


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 substantially diluted in the past year, with total shares outstanding growing by 379.9%.


Top Shareholders

Company Information

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


Key Information

  • Name: Oceanteam ASA
  • Ticker: OTS
  • Exchange: OB
  • Founded: 2005
  • Industry: Oil and Gas Equipment and Services
  • Sector: Energy
  • Market Cap: kr110.502m
  • Shares outstanding: 34.21m
  • Website: https://www.oceanteam.nl

Number of Employees


Location

  • Oceanteam ASA
  • Tveitaråsveien 12
  • Paradis
  • Bergen
  • Hordaland
  • 5232
  • Norway

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
OTSOB (Oslo Bors)YesClass A SharesNONOKMay 2006
0HJ5LSE (London Stock Exchange)YesClass A SharesGBNOKMay 2006
H2JBST (Boerse-Stuttgart)YesClass A SharesDEEURMay 2006
OTSOBATS-CHIXE (BATS 'Chi-X Europe')YesClass A SharesGBNOKMay 2006

Biography

Oceanteam ASA operates as an offshore shipping company in the Gulf of Mexico, Latin America, West Africa, and the Asia-Pacific. It operates through Oceanteam Shipping and Oceanteam Solutions segments. The company owns, charters, and manages two deepwater offshore construction support vessels, four fast support vessels (FSVs), and pipe lay vessels on long term contracts with solid subsea construction companies. It also provides equipment for offshore cable laying, umbilical installations, on and offshore cable storage, and cable transportation; and designs and engineers platforms and infrastructures for the oil and gas and renewables industry. In addition, the company rents tensioners, turntables, and reels. It serves oil and gas, offshore renewables, and civil engineering sectors. The company was formerly known as Oceanteam Shipping ASA and changed its name to Oceanteam ASA in December 2015. The company was founded in 2005 and is headquartered in Bergen, Norway. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/31 21:24
End of Day Share Price2020/03/31 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.