Executive Summary
PGS ASA operates as a marine geophysical company.
Rewards
Risk Analysis
Snowflake Analysis
Reasonable growth potential and slightly overvalued.
Similar Companies
Share Price & News
How has PGS's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: PGS's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
-4.4%
PGS
-2.4%
NO Energy Services
-0.3%
NO Market
1 Year Return
-14.9%
PGS
-26.8%
NO Energy Services
-1.2%
NO Market
Return vs Industry: PGS exceeded the Norwegian Energy Services industry which returned -25.9% over the past year.
Return vs Market: PGS underperformed the Norwegian Market which returned -1.3% over the past year.
Shareholder returns
| PGS | Industry | Market | |
|---|---|---|---|
| 7 Day | -4.4% | -2.4% | -0.3% |
| 30 Day | -5.0% | -16.0% | -3.6% |
| 90 Day | 6.3% | -11.1% | 2.2% |
| 1 Year | -14.9%-14.9% | -25.1%-26.8% | 4.2%-1.2% |
| 3 Year | -34.0%-34.0% | -21.6%-26.8% | 29.6%13.1% |
| 5 Year | -62.8%-63.3% | -23.2%-48.6% | 55.9%20.5% |
Price Volatility Vs. Market
How volatile is PGS's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 month ago | Simply Wall St
The PGS (OB:PGS) Share Price Is Down 58% So Some Shareholders Are Wishing They Sold2 months ago | Simply Wall St
Is PGS (OB:PGS) Using Too Much Debt?3 months ago | Simply Wall St
Results: PGS ASA Exceeded Expectations And The Consensus Has Updated Its EstimatesValuation
Is PGS undervalued compared to its fair value and its price relative to the market?
41.7%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: PGS (NOK16.56) is trading below our estimate of fair value (NOK28.41)
Significantly Below Fair Value: PGS is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: PGS is unprofitable, so we can't compare its PE Ratio to the Energy Services industry average.
PE vs Market: PGS 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 PGS's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: PGS is overvalued based on its PB Ratio (0.9x) compared to the NO Energy Services industry average (0.6x).
Next Steps
Future Growth
How is PGS forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?
70.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: PGS is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (0.7%).
Earnings vs Market: PGS is forecast to become profitable over the next 3 years, which is considered above average market growth.
High Growth Earnings: PGS's is expected to become profitable in the next 3 years.
Revenue vs Market: PGS's revenue (4.5% per year) is forecast to grow faster than the Norwegian market (3.3% per year).
High Growth Revenue: PGS's revenue (4.5% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: PGS's Return on Equity is forecast to be low in 3 years time (11%).
Next Steps
Past Performance
How has PGS performed over the past 5 years?
8.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: PGS is currently unprofitable.
Growing Profit Margin: PGS is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: PGS is unprofitable, but has reduced losses over the past 5 years at a rate of 8.4% per year.
Accelerating Growth: Unable to compare PGS's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: PGS is unprofitable, making it difficult to compare its past year earnings growth to the Energy Services industry (-44.4%).
Return on Equity
High ROE: PGS has a negative Return on Equity (-11.25%), as it is currently unprofitable.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is PGS's financial position?
Financial Position Analysis
Short Term Liabilities: PGS's short term assets ($426.1M) do not cover its short term liabilities ($822.1M).
Long Term Liabilities: PGS's short term assets ($426.1M) do not cover its long term liabilities ($842.5M).
Debt to Equity History and Analysis
Debt Level: PGS's debt to equity ratio (170.2%) is considered high.
Reducing Debt: PGS's debt to equity ratio has increased from 62.3% to 170.2% over the past 5 years.
Balance Sheet
Inventory Level: PGS has a high level of physical assets or inventory.
Debt Coverage by Assets: PGS'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 PGS has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.
Forecast Cash Runway: PGS is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 37.6% per year.
Next Steps
Dividend
What is PGS's current dividend yield, its reliability and sustainability?
0.48%
Forecast Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: Unable to evaluate PGS's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.
High Dividend: Unable to evaluate PGS'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 PGS's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if PGS's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: PGS is not paying a notable dividend for the Norwegian market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of PGS'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?
2.4yrs
Average management tenure
CEO
Rune Pedersen (49yo)
2.4yrs
Tenure
US$828,141
Compensation
Mr. Rune Olav Pedersen has been President and Chief Executive Officer of Petroleum Geo-Services ASA since September 1, 2017. Mr. Pedersen served as an Executive Vice President at Petroleum Geo-Services ASA ...
CEO Compensation Analysis
Compensation vs Market: Rune's total compensation ($USD828.14K) is above average for companies of similar size in the Norwegian market ($USD587.00K).
Compensation vs Earnings: Rune's compensation has increased whilst the company is unprofitable.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President & CEO | 2.4yrs | US$828.14k | 0.032% $2.0m | |
| CFO & Executive VP | 16.1yrs | US$745.70k | 0.058% $3.7m | |
| Executive Vice President of Operations | 0.08yrs | no data | no data | |
| Chief Accounting Officer | 0yrs | no data | 0.0020% $128.2k | |
| Senior VP of IR & Communication | 0yrs | no data | 0.0024% $156.5k | |
| General Counsel | 0yrs | no data | 0.0054% $347.5k | |
| Senior VP of Corporate Development | 0yrs | no data | 0.011% $734.2k | |
| Executive Vice President of Sales & Imaging | 1.1yrs | no data | no data | |
| Senior VP of Global Human Resources | 0yrs | no data | no data | |
| Executive Vice President of Marine Contract | 5.3yrs | US$651.78k | no data |
2.4yrs
Average Tenure
51yo
Average Age
Experienced Management: PGS's management team is considered experienced (2.4 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Vice Chairperson | 2.1yrs | no data | 0.0026% $165.4k | |
| Independent Director | 0.8yrs | no data | 0.0090% $579.7k | |
| Chairperson | 3.8yrs | no data | 0.0090% $579.7k | |
| Director | 5.1yrs | no data | 0.0018% $118.0k | |
| Independent Director | 2.8yrs | no data | 0.0024% $157.1k | |
| Director | 3.1yrs | no data | 0.00050% $32.1k | |
| Independent Director | 1.8yrs | no data | 0.00093% $59.6k | |
| Director | 1.1yrs | no data | 0.0066% $420.0k |
2.4yrs
Average Tenure
60yo
Average Age
Experienced Board: PGS's board of directors are not considered experienced ( 2.4 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.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
PGS ASA's company bio, employee growth, exchange listings and data sources
Key Information
- Name: PGS ASA
- Ticker: PGS
- Exchange: OB
- Founded: 1991
- Industry: Oil and Gas Equipment and Services
- Sector: Energy
- Market Cap: kr6.412b
- Shares outstanding: 387.21m
- Website: https://www.pgs.com
Number of Employees
Location
- PGS ASA
- Lilleakerveien 4C
- Oslo
- Oslo
- 283
- Norway
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| PGSV.Y | OTCPK (Pink Sheets LLC) | SPONSORED ADS | US | USD | Oct 2003 | |
| PGEJ.F | OTCPK (Pink Sheets LLC) | Yes | Common Stock | US | USD | Nov 2003 |
| PGS1 | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Nov 2003 |
| PGS | OB (Oslo Bors) | Yes | Common Stock | NO | NOK | Nov 2003 |
| 0MHR | LSE (London Stock Exchange) | Yes | Common Stock | GB | NOK | Nov 2003 |
| PGSO | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Common Stock | GB | NOK | Nov 2003 |
Biography
PGS ASA operates as a marine geophysical company. It offers a range of seismic and reservoir services, including acquisition, imaging, interpretation, and field evaluation to oil and gas companies. The company also offers seismic images and 3D data. It operates in Africa, the Asia Pacific, Europe, and North and South America. The company was formerly known as Petroleum Geo-Services ASA and changed its name to PGS ASA in May 2019. PGS ASA was founded in 1991 and is headquartered in Oslo, Norway.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/02/18 21:18 |
| End of Day Share Price | 2020/02/18 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
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.