OB:SIOFF

Stock Analysis Report

Executive Summary

Siem Offshore Inc., together with its subsidiaries, owns and operates offshore support vessels for the offshore energy service industry.

Snowflake

Fundamentals

Imperfect balance sheet and overvalued.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

0%

SIOFF

3.4%

NO Energy Services

1.6%

NO Market


1 Year Return

-42.8%

SIOFF

-25.8%

NO Energy Services

-4.1%

NO Market

Return vs Industry: SIOFF underperformed the Norwegian Energy Services industry which returned -25.8% over the past year.

Return vs Market: SIOFF underperformed the Norwegian Market which returned -4.1% over the past year.


Shareholder returns

SIOFFIndustryMarket
7 Day0%3.4%1.6%
30 Day-20.2%-2.7%-1.8%
90 Day-29.0%-4.9%1.8%
1 Year-42.8%-42.8%-24.6%-25.8%0.9%-4.1%
3 Year-43.4%-43.4%1.5%-5.5%40.1%21.8%
5 Year-80.9%-80.9%-30.2%-51.9%59.6%22.9%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

0.26x

Price to Book (PB) ratio


Share Price vs. Fair Value

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

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


Price To Earnings Ratio

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

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


Price to Book Ratio

PB vs Industry: SIOFF is good value based on its PB Ratio (0.3x) compared to the NO Energy Services industry average (0.6x).


Next Steps

  • Explore potentially undervalued companies in the Energy industry.

Future Growth

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

41.4%

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 Siem Offshore 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 Siem Offshore performed over the past 5 years?

-24.4%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: SIOFF is unprofitable, and losses have increased over the past 5 years at a rate of -24.4% per year.

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

Earnings vs Industry: SIOFF is unprofitable, making it difficult to compare its past year earnings growth to the Energy Services industry (5%).


Return on Equity

High ROE: SIOFF has a negative Return on Equity (-25.49%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: SIOFF is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: SIOFF is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is Siem Offshore's financial position?


Financial Position Analysis

Short Term Liabilities: SIOFF's short term assets ($198.4M) do not cover its short term liabilities ($202.0M)

Long Term Liabilities: SIOFF's short term assets (198.4M) do not cover its long term liabilities (1.1B)


Debt to Equity History and Analysis

Debt Level: SIOFF's debt to equity ratio (252.8%) is considered high

Reducing Debt: SIOFF's debt to equity ratio has increased from 148.8% to 252.8% over the past 5 years.


Balance Sheet

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

Debt Coverage by Assets: SIOFF's debt is not covered by short term assets (assets are 0.2x 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 SIOFF has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: SIOFF is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 110.4% per year.


Next Steps

Dividend

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


Dividend Yield vs Market

company0%marketbottom25%2.6%markettop25%6.3%industryaverage4.5%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

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

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

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

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


Current Payout to Shareholders

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


Future Payout to Shareholders

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

7.4yrs

Average management tenure


CEO

Bernt Omdal (53yo)

2.4yrs

Tenure

US$513,000

Compensation

Mr. Bernt Omdal has been Chief Executive Officer of Siem Offshore Inc. since May 15, 2017. Mr. Omdal served as Chief Commercial Officer and Chartering Director at Siem Offshore Inc. until May 15, 2017. Mr. ...


CEO Compensation Analysis

Compensation vs. Market: Bernt has recently become CEO, making it difficult to compare their total compensation against companies of similar size in the Norwegian market.

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


Management Age and Tenure

7.4yrs

Average Tenure

53yo

Average Age

Experienced Management: SIOFF's management team is seasoned and experienced (7.4 years average tenure).


Board Age and Tenure

5.4yrs

Average Tenure

69yo

Average Age

Experienced Board: SIOFF's board of directors are considered experienced (5.4 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Rachid Felix (66yo)

    Chief Executive Officer of Siem Consub SA

    • Tenure: 17.8yrs
  • Monica Ribeiro

    Corporate Secretary of Brazil

    • Tenure: 0yrs
  • Gro Wickstrøm

    Corporate Secretary of Norway

    • Tenure: 0yrs
  • Dagfinn Lie (47yo)

    Chief Financial Officer

    • Tenure: 10.8yrs
    • Compensation: US$418.60k
  • Bernt Omdal (53yo)

    Chief Executive Officer

    • Tenure: 2.4yrs
    • Compensation: US$513.00k
  • Lars Muck

    General Manager

    • Tenure: 0yrs
  • Peter Bengtsson

    Managing Director of Australia

    • Tenure: 0yrs
  • Tore Johannessen (64yo)

    Global HR Director

    • Tenure: 7.4yrs
    • Compensation: US$323.70k
  • Tore Lillesto (45yo)

    Chief Operating Officer

    • Tenure: 2.4yrs
    • Compensation: US$338.50k
  • Andreas Hageli

    Chartering Director

    • Tenure: 0yrs

Board Members

  • John Wallace (81yo)

    Director

    • Tenure: 7.4yrs
  • Kristian Siem (70yo)

    Chairman of the Board

    • Tenure: 0.2yrs
  • Michael Delouche (62yo)

    Director

    • Tenure: 14.8yrs
  • Alex Monnas (68yo)

    Director

    • Tenure: 3.4yrs

Company Information

Siem Offshore Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Siem Offshore Inc.
  • Ticker: SIOFF
  • Exchange: OB
  • Founded: 2005
  • Industry: Oil and Gas Equipment and Services
  • Sector: Energy
  • Market Cap: kr970.282m
  • Shares outstanding: 942.02m
  • Website: https://www.siemoffshore.com

Number of Employees


Location

  • Siem Offshore Inc.
  • Nodeviga 14
  • Kristiansand
  • 4610
  • Norway

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SIOFFOB (Oslo Bors)YesOrdinary SharesNONOKAug 2005
S5HDB (Deutsche Boerse AG)YesOrdinary SharesDEEURAug 2005
SIOFFOBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBNOKAug 2005

Biography

Siem Offshore Inc., together with its subsidiaries, owns and operates offshore support vessels for the offshore energy service industry. It operates platform supply vessels (PSVs); offshore subsea construc ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/22 20:49
End of Day Share Price2019/10/22 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.