OB:PRS

Stock Analysis Report

Executive Summary

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

Snowflake

Fundamentals

Worrying balance sheet with weak fundamentals.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-9.4%

PRS

-0.6%

NO Energy Services

-1.1%

NO Market


1 Year Return

-80.3%

PRS

-22.1%

NO Energy Services

-2.5%

NO Market

Return vs Industry: PRS underperformed the Norwegian Energy Services industry which returned -22.1% over the past year.

Return vs Market: PRS underperformed the Norwegian Market which returned -2.5% over the past year.


Shareholder returns

PRSIndustryMarket
7 Day-9.4%-0.6%-1.1%
30 Day-46.7%3.0%2.6%
90 Day-57.1%15.3%9.1%
1 Year-80.3%-80.3%-20.6%-22.1%2.7%-2.5%
3 Year-83.9%-83.9%7.4%-0.7%41.1%23.4%
5 Year-99.8%-99.8%-30.8%-52.3%57.0%21.2%

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 compared to its fair value and its price relative to the market?

2.93x

Price to Book (PB) ratio


Share Price vs. Fair Value

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

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


Price To Earnings Ratio

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

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


Price to Book Ratio

PB vs Industry: PRS is overvalued based on its PB Ratio (2.9x) compared to the NO Energy Services industry average (0.6x).


Next Steps

Future Growth

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

70.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

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

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

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

Revenue vs Market: PRS's revenue (3.7% per year) is forecast to grow slower than the Norwegian market (4.2% per year).

High Growth Revenue: PRS's revenue (3.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PRS is forecast to be unprofitable in 3 years.


Next Steps

Past Performance

How has Prosafe performed over the past 5 years?

-49.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PRS has large one-off items impacting its financial results.

Growing Profit Margin: PRS's current net profit margins (-152.1%) are lower than last year (-14.7%).


Past Earnings Growth Analysis

Earnings Trend: PRS is unprofitable, and losses have increased over the past 5 years at a rate of -49.8% per year.

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

Earnings vs Industry: PRS is unprofitable, making it difficult to compare its past year earnings growth to the Energy Services industry (14%).


Return on Equity

High ROE: PRS has a negative Return on Equity (-2904.23%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Prosafe's financial position?


Financial Position Analysis

Short Term Liabilities: PRS's short term assets ($246.6M) exceeds its short term liabilities ($90.2M)

Long Term Liabilities: PRS's short term assets (246.6M) do not cover its long term liabilities (1.4B)


Debt to Equity History and Analysis

Debt Level: PRS's debt to equity ratio (10066.9%) is considered high

Reducing Debt: PRS's debt to equity ratio has increased from 126.4% to 10066.9% over the past 5 years.

Debt Coverage: PRS's debt is not well covered by operating cash flow (6.8%).

Interest Coverage: PRS is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet

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

Debt Coverage by Assets: PRS's debt is not covered by short term assets (assets are 0.2x debt).


Next Steps

Dividend

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


Dividend Yield vs Market

company0%marketbottom25%2.5%markettop25%6.0%industryaverage4.4%forecastin3Years0%

Current dividend yield vs market & industry

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

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

Growing Dividend: Insufficient data to determine if PRS's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: PRS is not paying a notable dividend for the Norwegian market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of PRS'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 Prosafe's salary, the management and board of directors tenure and is there insider trading?

4.3yrs

Average management tenure


CEO

Jesper Andresen (45yo)

2.8yrs

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

Compensation vs Market: Jesper's total compensation ($USD905.00K) is above average for companies of similar size in the Norwegian market ($USD338.45K).

Compensation vs Earnings: Jesper's compensation has increased whilst the company is unprofitable.


Management Age and Tenure

4.3yrs

Average Tenure

46yo

Average Age

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


Board Age and Tenure

2.5yrs

Average Tenure

55yo

Average Age

Experienced Board: PRS's board of directors are not considered experienced ( 2.5 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: PRS insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$191,54312 Nov 19
Ryan Stewart
EntityIndividual
Role
Senior Key Executive
Chief Commercial Officer
Shares45,000
Max PriceUS$4.26
BuyUS$274,53017 Sep 19
Stig Christiansen
EntityIndividual
Role
Chief Financial Officer
Deputy CEO & CFO
Shares27,500
Max PriceUS$9.98
BuyUS$495,37717 Sep 19
Jesper Andresen
EntityIndividual
Role
Chief Executive Officer
Chief Executive Officer
Shares51,591
Max PriceUS$9.60

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 15.4%.


Management Team

  • Stig Christiansen (51yo)

    Deputy CEO & CFO

    • Tenure: 4.3yrs
    • Compensation: US$775.00k
  • Cecilie Ouff

    Senior Manager of Finance & Investor Relations

    • Tenure: 6.4yrs
  • Elena Hajiroussou

    Secretary

    • Tenure: 0yrs
  • Jesper Andresen (45yo)

    Chief Executive Officer

    • Tenure: 2.8yrs
    • Compensation: US$905.00k
  • Ryan Stewart (46yo)

    Chief Commercial Officer

    • Tenure: 0yrs
    • Compensation: US$562.00k

Board Members

  • Birgit Aagaard-Svendsen (63yo)

    Non-Executive Director

    • Tenure: 2.5yrs
    • Compensation: US$107.00k
  • Kristian Johansen (48yo)

    Non-Executive Director

    • Tenure: 2.5yrs
    • Compensation: US$96.00k
  • Svend Maier (54yo)

    Non-Executive Director

    • Tenure: 2.9yrs
    • Compensation: US$96.00k
  • Glen Rødland (55yo)

    Non-Executive Chairman

    • Tenure: 3.5yrs
    • Compensation: US$144.00k
  • Nina Tronstad (60yo)

    Non-Executive Director

    • Tenure: 0.5yrs

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: kr356.109m
  • Shares outstanding: 81.86m
  • Website: https://www.prosafe.com

Number of Employees


Location

  • Prosafe SE
  • Forusparken 2
  • PO Box 39 Forus
  • Stavanger
  • Rogaland
  • 4064
  • Norway

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PRSOB (Oslo Bors)YesOrdinary SharesNONOKApr 1997
1Q6DB (Deutsche Boerse AG)YesOrdinary SharesDEEURApr 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 Analysis2019/11/14 20:58
End of Day Share Price2019/11/14 00:00
Earnings2019/09/30
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.