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Market Cap

kr3.3b

Last Updated

2021/09/17 22:32 UTC

Data Sources

Company Financials +

Executive Summary

2020 Bulkers Ltd owns and operates large dry bulk vessels worldwide. More Details


Snowflake Analysis

Fair value with acceptable track record.

Share Price & News

How has 2020 Bulkers's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 2020 is not significantly more volatile than the rest of Norwegian stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: 2020's weekly volatility (6%) has been stable over the past year.


Market Performance


7 Day Return

9.2%

2020

1.0%

NO Shipping

-0.5%

NO Market


1 Year Return

150.8%

2020

87.4%

NO Shipping

20.4%

NO Market

Return vs Industry: 2020 exceeded the Norwegian Shipping industry which returned 86.6% over the past year.

Return vs Market: 2020 exceeded the Norwegian Market which returned 21.3% over the past year.


Shareholder returns

2020IndustryMarket
7 Day9.2%1.0%-0.5%
30 Day22.8%0.9%1.4%
90 Day33.3%6.9%3.3%
1 Year193.1%150.8%91.8%87.4%27.2%20.4%
3 Year137.3%97.3%19.1%-3.7%17.4%4.0%
5 Yearn/a62.4%43.0%80.5%47.8%

Long-Term Price Volatility Vs. Market

How volatile is 2020 Bulkers's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is 2020 Bulkers 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: 2020 (NOK148) is trading below our estimate of fair value (NOK389.92)

Significantly Below Fair Value: 2020 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 2020 is poor value based on its PE Ratio (12.1x) compared to the Norwegian Shipping industry average (11.8x).

PE vs Market: 2020 is good value based on its PE Ratio (12.1x) compared to the Norwegian market (13.5x).


Price to Earnings Growth Ratio

PEG Ratio: 2020 is poor value based on its PEG Ratio (7.6x)


Price to Book Ratio

PB vs Industry: 2020 is overvalued based on its PB Ratio (2.6x) compared to the NO Shipping industry average (1.4x).


Future Growth

How is 2020 Bulkers forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

1.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 2020's forecast earnings growth (1.6% per year) is above the savings rate (1.2%).

Earnings vs Market: 2020's earnings (1.6% per year) are forecast to grow slower than the Norwegian market (10.2% per year).

High Growth Earnings: 2020's earnings are forecast to grow, but not significantly.

Revenue vs Market: 2020's revenue is expected to decline over the next 3 years (-1% per year).

High Growth Revenue: 2020's revenue is forecast to decline over the next 3 years (-1% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 2020's Return on Equity is forecast to be high in 3 years time (33.1%)


Past Performance

How has 2020 Bulkers performed over the past 5 years?

566.0%

Last years earnings growth


Earnings and Revenue History

Quality Earnings: 2020 has high quality earnings.

Growing Profit Margin: 2020's current net profit margins (41.3%) are higher than last year (17%).


Past Earnings Growth Analysis

Earnings Trend: Insufficient data to determine if 2020's year-on-year earnings growth rate was positive over the past 5 years.

Accelerating Growth: Insufficient data to compare 2020's past year earnings growth to its 5-year average.

Earnings vs Industry: 2020 earnings growth over the past year (566%) exceeded the Shipping industry 107%.


Return on Equity

High ROE: Whilst 2020's Return on Equity (21.13%) is high, this metric is skewed due to their high level of debt.


Financial Health

How is 2020 Bulkers's financial position?


Financial Position Analysis

Short Term Liabilities: 2020's short term assets ($27.5M) exceed its short term liabilities ($21.5M).

Long Term Liabilities: 2020's short term assets ($27.5M) do not cover its long term liabilities ($224.8M).


Debt to Equity History and Analysis

Debt Level: 2020's debt to equity ratio (110.5%) is considered high.

Reducing Debt: Insufficient data to determine if 2020's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: 2020's debt is well covered by operating cash flow (26.5%).

Interest Coverage: 2020's interest payments on its debt are well covered by EBIT (4.1x coverage).


Balance Sheet


Dividend

What is 2020 Bulkers's current dividend yield, its reliability and sustainability?

10.68%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 2020's dividend (10.68%) is higher than the bottom 25% of dividend payers in the Norwegian market (1.84%).

High Dividend: 2020's dividend (10.68%) is in the top 25% of dividend payers in the Norwegian market (5.1%)


Stability and Growth of Payments

Stable Dividend: 2020 has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: 2020's dividend payments have increased, but the company has only paid a dividend for 2 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (90.7%), 2020's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 2020's dividends in 3 years are not forecast to be well covered by earnings (91.5% payout ratio).


Next Steps

Management

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

1.9yrs

Average management tenure


CEO

Magnus Halvorsen

2.67yrs

Tenure

Mr. Lars Marius Halvorsen serves as the Chief Executive Officer at 2020 Bulkers Ltd. since January 1, 2019. Mr. Halvorsen served as the Chief Executive Officer of Clarksons Platou Secs Inc. He was the Prin...


Leadership Team

Experienced Management: 2020's management team is not considered experienced ( 1.9 years average tenure), which suggests a new team.


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

2020 Bulkers Ltd's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: 2020 Bulkers Ltd
  • Ticker: 2020
  • Exchange: OB
  • Founded: 2017
  • Industry: Marine
  • Sector: Transportation
  • Market Cap: kr3.281b
  • Shares outstanding: 22.17m
  • Website: https://www.2020bulkers.com

Number of Employees


Location

  • 2020 Bulkers Ltd
  • S.E. Pearman Building
  • 2nd Floor
  • Hamilton
  • HM11
  • Bermuda

Listings


Biography

2020 Bulkers Ltd owns and operates large dry bulk vessels worldwide. The company operates eight scrubber fitted 208,000 deadweight tonnage Newcastlemax dry bulk carriers. 2020 Bulkers Ltd was incorporated...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/17 22:32
End of Day Share Price2021/09/17 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.