OB:SIOFF

Stock Analysis Report

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Executive Summary

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


Snowflake Analysis

Slightly overvalued with imperfect balance sheet.


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

Stable Share Price: SIOFF is more volatile than 90% of Norwegian stocks over the past 3 months, typically moving +/- 20% a week.

Volatility Over Time: SIOFF's weekly volatility (20%) has been stable over the past year, but is still higher than 75% of Norwegian stocks.


Market Performance


7 Day Return

-3.1%

SIOFF

8.7%

NO Energy Services

3.4%

NO Market


1 Year Return

-49.3%

SIOFF

-38.9%

NO Energy Services

-1.8%

NO Market

Return vs Industry: SIOFF underperformed the Norwegian Energy Services industry which returned -38.3% over the past year.

Return vs Market: SIOFF underperformed the Norwegian Market which returned -2.2% over the past year.


Shareholder returns

SIOFFIndustryMarket
7 Day-3.1%8.7%3.4%
30 Day6.9%36.5%12.5%
90 Day-6.6%20.4%7.4%
1 Year-49.3%-49.3%-36.0%-38.9%1.8%-1.8%
3 Year-63.1%-63.1%-59.2%-62.0%8.8%-3.4%
5 Year-51.6%-51.6%-27.3%-48.7%54.8%24.2%

Long-Term 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?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: SIOFF (NOK0.78) is trading below our estimate of fair value (NOK2.34)

Significantly Below Fair Value: SIOFF is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: SIOFF is unprofitable, so we can't compare its PE Ratio to the NO 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 overvalued based on its PB Ratio (0.9x) compared to the NO Energy Services industry average (0.5x).


Next Steps

Future Growth

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

68.6%

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?

-4.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SIOFF is currently unprofitable.

Growing Profit Margin: SIOFF is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: SIOFF is unprofitable, and losses have increased over the past 5 years at a rate of 4.3% 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 (-28.6%).


Return on Equity

High ROE: SIOFF has a negative Return on Equity (-737.31%), as it is currently unprofitable.


Next Steps

Financial Health

How is Siem Offshore's financial position?


Financial Position Analysis

Short Term Liabilities: SIOFF's short term assets ($145.0M) do not cover its short term liabilities ($277.2M).

Long Term Liabilities: SIOFF's short term assets ($145.0M) do not cover its long term liabilities ($872.6M).


Debt to Equity History and Analysis

Debt Level: SIOFF's debt to equity ratio (2100.2%) is considered high.

Reducing Debt: SIOFF's debt to equity ratio has increased from 156.2% to 2100.2% 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 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 52% per year.


Next Steps

Dividend

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


Dividend Yield vs Market

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

High Dividend: Unable to evaluate SIOFF'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 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

How experienced are the management team and are they aligned to shareholders interests?

8.5yrs

Average management tenure


CEO

Bernt Omdal (54 yo)

3.5yrs

Tenure

US$476,100

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's total compensation ($USD476.10K) is about average for companies of similar size in the Norwegian market ($USD368.14K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Bernt Omdal
Chief Executive Officer3.5yrsUS$476.10kno data
Dagfinn Lie
Chief Financial Officer11.83yrsUS$480.80k0.0011%
$ 8.1k
Tore Lillesto
Chief Operating Officer3.5yrsUS$326.00kno data
Tore Johannessen
Global HR Director8.5yrsUS$348.40kno data
Andreas Hageli
Chartering Directorno dataUS$316.70kno data
Peter Bengtsson
Managing Director of Australiano datano datano data
Rachid Felix
Chief Executive Officer of Siem Consub SA18.83yrsno datano data
Monica Ribeiro
Corporate Secretary of Brazilno datano datano data
Gro Wickstrøm
Corporate Secretary of Norwayno datano datano data
Lars Muck
General Managerno datano datano data

8.5yrs

Average Tenure

54yo

Average Age

Experienced Management: SIOFF's management team is seasoned and experienced (8.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Barry Ridings
Director0.83yrno datano data
John Wallace
Independent Director8.5yrsno datano data
Kristian Siem
Chairman of the Board1.25yrsno datano data
Alexander Monnas
Director4.5yrsno datano data

2.9yrs

Average Tenure

70yo

Average Age

Experienced Board: SIOFF's board of directors are not considered experienced ( 2.9 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.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

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: kr757.138m
  • Shares outstanding: 934.74m
  • Website: https://www.siemoffshore.com

Number of Employees


Location

  • Siem Offshore Inc.
  • Nodeviga 14
  • Kristiansand
  • Vest-Agder
  • 4610
  • Norway

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SIOFFOB (Oslo Bors)YesOrdinary SharesNONOKAug 2005
S5HDB (Deutsche Boerse AG)YesOrdinary SharesDEEURAug 2005
0I21LSE (London Stock Exchange)YesOrdinary SharesGBNOKAug 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 Analysis2020/11/26 17:21
End of Day Share Price2020/11/26 00:00
Earnings2020/09/30
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.