OB:SOFF

Stock Analysis Report

Solstad Offshore

Executive Summary

Solstad Offshore ASA operates offshore service and construction vessels for offshore and renewable energy industry worldwide.

Snowflake

Fundamentals

Limited growth with imperfect balance sheet.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

1.2%

SOFF

1.0%

NO Energy Services

0.07%

NO Market


1 Year Return

-86.7%

SOFF

-31.5%

NO Energy Services

-8.7%

NO Market

Return vs Industry: SOFF underperformed the Norwegian Energy Services industry which returned -31.5% over the past year.

Return vs Market: SOFF underperformed the Norwegian Market which returned -8.7% over the past year.


Shareholder returns

SOFFIndustryMarket
7 Day1.2%1.0%0.07%
30 Day-8.4%-4.6%-1.9%
90 Day-46.7%-3.2%2.1%
1 Year-86.7%-86.7%-30.2%-31.5%-3.9%-8.7%
3 Year-95.0%-95.0%2.5%-4.4%40.2%21.9%
5 Year-99.1%-99.2%-29.6%-51.1%59.2%22.5%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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


In this section, we usually try to help investors determine whether Solstad Offshore is trading at an attractive price based on the cash flow it is expected to produce in the future. But as Solstad Offshore has not provided consistent financial data, and the stock also has no analyst forecast or coverage, its intrinsic value cannot be reliably calculated by extrapolating past data or using analyst consensus cash flow predictions.

This is quite a rare situation as 89% of companies covered by Simply Wall St do have a valuation analysis.


Next Steps

  • Take a look at our analysis of SOFF’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  • When valuing a company like this, investors focus more on how they perceive the size of the opportunity, the company's ability to deliver and scale, and the strength of the team. While we are not analysing this type of data at the moment, if you don’t know where to start, we recommend reading through Solstad Offshore regulatory filings.
  • Explore potentially undervalued companies in the Energy industry.

Future Growth

How is Solstad Offshore forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

166.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

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

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

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

Revenue vs Market: SOFF's revenue (37.7% per year) is forecast to grow faster than the Norwegian market (4.7% per year).

High Growth Revenue: SOFF's revenue (37.7% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

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


Next Steps

Past Performance

How has Solstad Offshore performed over the past 5 years?

-62.5%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: SOFF is unprofitable, and losses have increased over the past 5 years at a rate of -62.5% per year.

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

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


Return on Equity

High ROE: SOFF's liabilities exceed its assets, so it is difficult to calculate its Return on Equity.


Return on Assets

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


Return on Capital Employed

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


Next Steps

Financial Health

How is Solstad Offshore's financial position?


Financial Position Analysis

Short Term Liabilities: SOFF has negative shareholder equity, which is a more serious situation than short term assets not covering short term liabilities.

Long Term Liabilities: SOFF has negative shareholder equity, which is a more serious situation than short term assets not covering long term liabilities.


Debt to Equity History and Analysis

Debt Level: SOFF has negative shareholder equity, which is a more serious situation than a high debt level.

Reducing Debt: SOFF's has negative shareholder equity, so we do not need to check if its debt has reduced over time.


Balance Sheet

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

Debt Coverage by Assets: SOFF has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.


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

Forecast Cash Runway: SOFF is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 53.9% per year.


Next Steps

Dividend

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


Dividend Yield vs Market

company0%marketbottom25%2.6%markettop25%6.2%industryaverage4.5%forecastin3Years0%

Current dividend yield vs market & industry


Stability and Growth of Payments

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

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

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


Current Payout to Shareholders

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


Future Payout to Shareholders

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

6.2yrs

Average management tenure


CEO

Lars Solstad 0

0yrs

Tenure

kr2,429,000

Compensation

Mr. Lars Peder Solstad serves as Chief Executive Officer of Solstad Offshore ASA and has been its Managing Director since 2002. 


CEO Compensation Analysis

Compensation vs. Market: Lars's total compensation ($USD264.50K) is about average for companies of similar size in the Norwegian market ($USD327.66K).

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


Management Age and Tenure

6.2yrs

Average Tenure

Experienced Management: SOFF's management team is seasoned and experienced (6.2 years average tenure).


Board Age and Tenure

3.3yrs

Average Tenure

48yo

Average Age

Experienced Board: SOFF's board of directors are considered experienced (3.3 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

  • Lars Solstad

    CEO & MD

    • Tenure: 0yrs
    • Compensation: kr2.43m
  • Sven Stakkestad

    Deputy Chief Executive Officer

    • Tenure: 17.8yrs
    • Compensation: kr2.27m
  • Jon Gummedal

    Executive Vice President of Aquaculture

    • Tenure: 0.8yrs
    • Compensation: kr1.79m
  • Anders Jomaas

    Chief Financial Officer

    • Tenure: 2.3yrs
    • Compensation: kr1.97m
  • Per Stange

    Human Resources Director

    • Tenure: 10.1yrs
  • Leif Stave

    Controller

    • Tenure: 0yrs
  • Hans Skår

    Executive Vice President of SUBSEA Construction

    • Tenure: 0yrs
    • Compensation: kr1.89m
  • Jostein Fjelland

    Accounting Manager

    • Tenure: 22yrs
  • Tor Dale

    Chief Operating Officer

    • Tenure: 0yrs
    • Compensation: kr1.88m
  • Kenneth Lande

    Executive Vice President of Global AHTS/PSV

    • Tenure: 0.8yrs
    • Compensation: kr1.88m

Board Members

  • Frank Reite (49yo)

    Director

    • Tenure: 3.3yrs
    • Compensation: kr138.00k
  • Toril Eidesvik (51yo)

    Director

    • Tenure: 14.4yrs
    • Compensation: kr210.00k
  • Ellen Solstad (45yo)

    Director

    • Tenure: 3.3yrs
    • Compensation: kr138.00k
  • Merete Haugli (55yo)

    Director

    • Tenure: 2.6yrs
    • Compensation: kr138.00k
  • Harald Thorstein (45yo)

    Director

    • Tenure: 2.5yrs
    • Compensation: kr138.00k
  • Harald Espedal (47yo)

    Chairman of the Board

    • Tenure: 0yrs

Company Information

Solstad Offshore ASA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Solstad Offshore ASA
  • Ticker: SOFF
  • Exchange: OB
  • Founded: 1964
  • Industry: Oil and Gas Equipment and Services
  • Sector: Energy
  • Market Cap: kr200.186m
  • Shares outstanding: 291.39m
  • Website: https://www.solstad.com

Number of Employees


Location

  • Solstad Offshore ASA
  • Nesavegen 39
  • Skudeneshavn
  • Rogaland
  • 4280
  • Norway

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SOFFOB (Oslo Bors)YesClass A SharesNONOKOct 1997
0G2ZLSE (London Stock Exchange)YesClass A SharesGBNOKOct 1997
SLOF.FOTCPK (Pink Sheets LLC)YesClass A SharesUSUSDOct 1997

Biography

Solstad Offshore ASA operates offshore service and construction vessels for offshore and renewable energy industry worldwide. It offers anchor-handling vessels delivering services related to rig moves, and ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/19 20:36
End of Day Share Price2019/10/18 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.