OB:PRS

Stock Analysis Report

Executive Summary

Prosafe SE, together with its subsidiaries, owns and operates semi-submersible accommodation vessels worldwide.

Snowflake

Fundamentals

Fair value with mediocre balance sheet.

Risks

  • Prosafe has significant price volatility in the past 3 months.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-5.1%

OB:PRS

3.4%

NO Energy Services

1.5%

NO Market


1 Year Return

-67.6%

OB:PRS

-41.6%

NO Energy Services

-14.8%

NO Market

PRS underperformed the Energy Services industry which returned -41.6% over the past year.

PRS underperformed the Market in Norway which returned -14.8% over the past year.


Share holder returns

PRSIndustryMarket
7 Day-5.1%3.4%1.5%
30 Day-14.1%-14.7%-3.8%
90 Day-31.3%-20.7%-5.3%
1 Year-67.6%-67.6%-40.4%-41.6%-10.0%-14.8%
3 Year-84.5%-84.5%-3.8%-10.5%38.1%19.9%
5 Year-99.7%-99.7%-51.2%-65.5%38.6%6.9%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Prosafe undervalued based on future cash flows and its price relative to the stock market?

>50%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Prosafe's share price is below the future cash flow value, and at a moderate discount (> 20%).

Prosafe's share price is below the future cash flow value, and at a substantial discount (> 40%).


Price Based on Earnings

Prosafe is loss making, we can't compare its value to the NO Energy Services industry average.

Prosafe is loss making, we can't compare the value of its earnings to the Norway market.


Price Based on Expected Growth

Unable to calculate PEG ratio for Prosafe, we can't assess if its growth is good value.


Price Based on Value of Assets

Prosafe is good value based on assets compared to the NO Energy Services industry average.


Next Steps

Future Growth

How is Prosafe expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

14.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Prosafe's revenue is expected to grow by 7.8% yearly, however this is not considered high growth (20% yearly).

Prosafe is not considered high growth as it is expected to be loss making for the next 1-3 years.

Prosafe's revenue growth is expected to exceed the Norway market average.

Unable to compare Prosafe's earnings growth to the Norway market average as it is expected to be loss making during the next 1-3 years.

Unable to compare Prosafe's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if Prosafe will efficiently use shareholders’ funds in the future (Return on Equity greater than 20%) as it is not expected to be profitable.


Next Steps

Past Performance

How has Prosafe performed over the past 5 years?

-51.5%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Prosafe does not make a profit and their year on year earnings growth rate was negative over the past 5 years.

Unable to compare Prosafe's 1-year earnings growth to the 5-year average as it is not currently profitable.

Unable to compare Prosafe's 1-year growth to the NO Energy Services industry average as it is not currently profitable.


Return on Equity

It is difficult to establish if Prosafe has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.


Return on Assets

It is difficult to establish if Prosafe has efficiently used its assets last year compared to the NO Energy Services industry average (Return on Assets) as it is loss-making.


Return on Capital Employed

It is difficult to establish if Prosafe improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.


Next Steps

Financial Health

How is Prosafe's financial position?


Financial Position Analysis

Prosafe is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Prosafe's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

Prosafe's level of debt (332.9%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (126.9% vs 332.9% today).


Balance Sheet

High level of physical assets or inventory.

Debt is not covered by short term assets, assets are 0.1x 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.

Whilst loss making Prosafe has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.

Whilst loss making Prosafe has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -79.7% per year.


Next Steps

Dividend

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


Dividend Yield and Payments Analysis

Unable to evaluate Prosafe's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.

Unable to evaluate Prosafe's dividend against the top 25% market benchmark as the company has not reported any payouts.

Unable to perform a dividend volatility check as Prosafe has not reported any payouts.

Unable to verify if Prosafe's dividend has been increasing as the company has not reported any payouts.


Current Payout to Shareholders

Unable to calculate sustainability of dividends as Prosafe has not reported any payouts.


Future Payout to Shareholders

No need to calculate the sustainability of Prosafe's dividends in 3 years as they are not expected to pay a notable one for Norway.


Next Steps

Management

What is the CEO of Prosafe's salary, the management and board of directors tenure and is there insider trading?

4.0yrs

Average management tenure


CEO

Jesper Andresen (45yo)

2.5yrs

Tenure

US$905,000

Compensation

Mr. Jesper Kragh Andresen has been the Chief Executive Officer at Prosafe SE since February 08, 2017. Mr. Andresen has been the Chief Executive Officer of Axis Offshore Pte. Ltd. since 2012. Mr. Andresen h ...


CEO Compensation Analysis

Jesper's remuneration is higher than average for companies of similar size in Norway.

Jesper's compensation has increased whilst company is loss making.


Management Age and Tenure

4.0yrs

Average Tenure

46yo

Average Age

The tenure for the Prosafe management team is about average.


Board Age and Tenure

2.3yrs

Average Tenure

55yo

Average Age

The average tenure for the Prosafe board of directors is less than 3 years, this suggests a new board.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Stig Christiansen (51yo)

    Deputy CEO & CFO

    • Tenure: 4.0yrs
    • Compensation: US$775.00k
  • Cecilie Ouff

    Senior Manager of Finance & Investor Relations

    • Tenure: 6.2yrs
  • Elena Hajiroussou

    Secretary

    • Tenure: 0.0yrs
  • Jesper Andresen (45yo)

    Chief Executive Officer

    • Tenure: 2.5yrs
    • Compensation: US$905.00k
  • Ryan Stewart (46yo)

    Chief Commercial Officer

    • Tenure: 0.0yrs
    • Compensation: US$562.00k

Board Members

  • Birgit Aagaard-Svendsen (63yo)

    Non-Executive Director

    • Tenure: 2.3yrs
    • Compensation: US$107.00k
  • Kristian Johansen (48yo)

    Non-Executive Director

    • Tenure: 2.3yrs
    • Compensation: US$96.00k
  • Svend Maier (54yo)

    Non-Executive Director

    • Tenure: 2.7yrs
    • Compensation: US$96.00k
  • Glen Rødland (55yo)

    Non-Executive Chairman

    • Tenure: 3.3yrs
    • Compensation: US$144.00k
  • Nina Tronstad (60yo)

    Non-Executive Director

    • Tenure: 0.3yrs

Company Information

Prosafe SE's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Prosafe SE
  • Ticker: PRS
  • Exchange: OB
  • Founded: 1972
  • Industry: Oil and Gas Equipment and Services
  • Sector: Energy
  • Market Cap: kr787.534m
  • Shares outstanding: 81.86m
  • Website: https://www.prosafe.com

Number of Employees


Location

  • Prosafe SE
  • 73 Metochiou Street
  • att.: Elena Hajiroussou
  • Nicosia
  • 2407
  • Cyprus

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PRSOB (Oslo Bors)YesOrdinary SharesNONOKApr 1997
5PSDB (Deutsche Boerse AG)YesOrdinary SharesDEEURApr 1997
0J5YLSE (London Stock Exchange)YesOrdinary SharesGBNOKApr 1997
PRSE.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDApr 1997
PRSOBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBNOKApr 1997
PRSE.YOTCPK (Pink Sheets LLC)UNSPONSORED ADRUSUSDOct 2008

Biography

Prosafe SE, together with its subsidiaries, owns and operates semi-submersible accommodation vessels worldwide. Its accommodation vessels are used for accommodation, engineering, construction, or storage c ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/25 21:00
End of Day Share Price2019/08/23 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.