OB:PLCS

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Executive Summary

Polarcus Limited, a geophysical service company, provides marine seismic data acquisition and processing services to oil and gas companies. More Details


Snowflake Analysis

Imperfect balance sheet with concerning outlook.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-5.1%

PLCS

-3.1%

NO Energy Services

-1.6%

NO Market


1 Year Return

-79.8%

PLCS

-53.5%

NO Energy Services

-8.8%

NO Market

Return vs Industry: PLCS underperformed the Norwegian Energy Services industry which returned -53.4% over the past year.

Return vs Market: PLCS underperformed the Norwegian Market which returned -8.6% over the past year.


Shareholder returns

PLCSIndustryMarket
7 Day-5.1%-3.1%-1.6%
30 Day-16.8%4.0%1.5%
90 Day-41.2%-7.9%1.7%
1 Year-79.8%-79.8%-51.6%-53.5%-5.7%-8.8%
3 Year-75.4%-75.4%-68.9%-70.8%-0.3%-11.2%
5 Year-99.1%-99.1%-41.7%-60.7%43.4%14.5%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

0.31x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate PLCS's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate PLCS's fair value to establish if it is undervalued.


Price To Earnings Ratio

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

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


Price to Book Ratio

PB vs Industry: PLCS's PB Ratio (0.3x) is in line with the NO Energy Services industry average.


Next Steps

Future Growth

How is Polarcus forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

27.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

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

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

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

Revenue vs Market: PLCS's revenue (10.1% per year) is forecast to grow faster than the Norwegian market (5.5% per year).

High Growth Revenue: PLCS's revenue (10.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if PLCS's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Polarcus performed over the past 5 years?

38.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PLCS is currently unprofitable.

Growing Profit Margin: PLCS is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: PLCS is unprofitable, but has reduced losses over the past 5 years at a rate of 38.7% per year.

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

Earnings vs Industry: PLCS is unprofitable, making it difficult to compare its past year earnings growth to the Energy Services industry (-41.5%).


Return on Equity

High ROE: PLCS has a negative Return on Equity (-69.24%), as it is currently unprofitable.


Next Steps

Financial Health

How is Polarcus's financial position?


Financial Position Analysis

Short Term Liabilities: PLCS's short term assets ($79.7M) do not cover its short term liabilities ($80.8M).

Long Term Liabilities: PLCS's short term assets ($79.7M) do not cover its long term liabilities ($331.4M).


Debt to Equity History and Analysis

Debt Level: PLCS's debt to equity ratio (825.6%) is considered high.

Reducing Debt: PLCS's debt to equity ratio has increased from 137.1% to 825.6% over the past 5 years.


Balance Sheet


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

Forecast Cash Runway: PLCS is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by 24.3% per year.


Next Steps

Dividend

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


Dividend Yield vs Market

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

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


Stability and Growth of Payments

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

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

4.3yrs

Average management tenure


CEO

Duncan Eley (48 yo)

3.58yrs

Tenure

US$821,000

Compensation

Mr. Duncan Eley has been the Chief Executive Officer of Polarcus Limited since March 17, 2017. Mr. Eley served as the Chief Operating Officer of Polarcus Limited since May 1, 2013 until March 24, 2017. Mr ...


CEO Compensation Analysis

Compensation vs Market: Duncan's total compensation ($USD821.00K) is above average for companies of similar size in the Norwegian market ($USD376.28K).

Compensation vs Earnings: Duncan's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Duncan Eley
Chief Executive Officer3.58yrsUS$821.00k0.20%
$ 244.5k
Hans-Peter Burlid
Chief Financial Officer4.58yrsUS$633.00k0.0098%
$ 12.1k
Lars Østergaard
Chief Operating Officerno dataUS$540.00k0.029%
$ 36.1k
Caleb Raywood
General Counsel & Company Secretary4.33yrsno data0.041%
$ 50.5k
Andrew Lambert
Vice President of Global Sales1.25yrsno datano data
Tamzin Steel
Senior Vice President of People & Business Services4.33yrsno data0.041%
$ 50.5k
Phil Fontana
Chief Geophysicistno datano datano data
Magnus Öberg
Vice President of Informantion Technology12.5yrsUS$224.92kno data
Christopher Griffin
Vice President of Environment Health Safety & Quality12.5yrsUS$260.42kno data
Jai Pandya
Vice President of APAC3yrsno datano data
Simon Hodgkinson
Vice President of Operations2yrsno datano data

4.3yrs

Average Tenure

48yo

Average Age

Experienced Management: PLCS's management team is considered experienced (4.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Karen El-Tawil
Non-Executive Independent Director6.67yrsUS$65.00k0.00083%
$ 1.0k
Erik Mathiesen
Director4.42yrsUS$60.00k0.052%
$ 64.4k
Peter Zickerman
Founder & Director4.42yrsUS$50.00k6.8%
$ 8.4m
Michael E. Mannering
Chairman2.42yrsUS$129.00k0.029%
$ 36.1k
Nina Tronstad
Director0.50yrno datano data
Monish Sahni
Director1.5yrsUS$44.00k0.024%
$ 30.1k

3.4yrs

Average Tenure

58yo

Average Age

Experienced Board: PLCS's board of directors are considered experienced (3.4 years average tenure).


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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Polarcus Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Polarcus Limited
  • Ticker: PLCS
  • Exchange: OB
  • Founded: 2007
  • Industry: Oil and Gas Equipment and Services
  • Sector: Energy
  • Market Cap: kr123.823m
  • Shares outstanding: 513.79m
  • Website: https://www.polarcus.com

Number of Employees


Location

  • Polarcus Limited
  • Reef Tower
  • Level 20
  • Dubai
  • United Arab Emirates

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PLCSOB (Oslo Bors)YesOrdinary SharesNONOKApr 2009
PLCSOBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBNOKApr 2009
29PMUN (Boerse Muenchen)YesOrdinary SharesDEEURApr 2009
29PDB (Deutsche Boerse AG)YesOrdinary SharesDEEURApr 2009

Biography

Polarcus Limited, a geophysical service company, provides marine seismic data acquisition and processing services to oil and gas companies. The company operates a fleet of seismic vessels with 3D and 4D im ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/24 21:24
End of Day Share Price2020/10/23 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.