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American Shipping

OB:AMSC
Snowflake Description

Reasonable growth potential and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AMSC
OB
NOK2B
Market Cap
  1. Home
  2. NO
  3. Transportation
Company description

American Shipping Company ASA, through its subsidiaries, operates as a ship owning and lease finance company in the United States. The last earnings update was 29 days ago. More info.


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AMSC Share Price and Events
7 Day Returns
0.1%
OB:AMSC
-2.2%
NO Shipping
-1.1%
NO Market
1 Year Returns
24%
OB:AMSC
-26.4%
NO Shipping
-8.3%
NO Market
AMSC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
American Shipping (AMSC) 0.1% 2.2% 5% 24% 43.6% -21.4%
NO Shipping -2.2% -10.6% -11.1% -26.4% 4.7% -41.9%
NO Market -1.1% -3% -6.7% -8.3% 29.3% 8.9%
1 Year Return vs Industry and Market
  • AMSC outperformed the Shipping industry which returned -26.4% over the past year.
  • AMSC outperformed the Market in Norway which returned -8.3% over the past year.
Price Volatility
AMSC
Industry
5yr Volatility vs Market

AMSC Value

 Is American Shipping undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of American Shipping to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for American Shipping.

OB:AMSC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.7%
Perpetual Growth Rate 10-Year NO Government Bond Rate 1.8%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OB:AMSC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year NO Govt Bond Rate 1.8%
Equity Risk Premium S&P Global 6%
Shipping Unlevered Beta Simply Wall St/ S&P Global 0.69
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.693 (1 + (1- 23%) (244.89%))
1.669
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.67
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.76% + (1.669 * 5.96%)
11.71%

Discounted Cash Flow Calculation for OB:AMSC using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for American Shipping is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

OB:AMSC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 11.71%)
2019 51.00 Analyst x1 45.66
2020 68.00 Analyst x1 54.49
2021 75.83 Est @ 11.52% 54.40
2022 82.35 Est @ 8.59% 52.89
2023 87.74 Est @ 6.54% 50.44
2024 92.22 Est @ 5.11% 47.46
2025 96.00 Est @ 4.1% 44.23
2026 99.26 Est @ 3.4% 40.94
2027 102.15 Est @ 2.91% 37.72
2028 104.77 Est @ 2.56% 34.63
Present value of next 10 years cash flows $462.86
OB:AMSC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $104.77 × (1 + 1.76%) ÷ (11.71% – 1.76%)
$1,071.85
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $1,071.85 ÷ (1 + 11.71%)10
$354.28
OB:AMSC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $462.86 + $354.28
$817.13
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $817.13 / 60.62
$13.48
OB:AMSC Discount to Share Price
Calculation Result
Exchange Rate USD/NOK
(Reporting currency to currency of OB:AMSC)
8.735
Value per Share
(NOK)
= Value per Share in USD x Exchange Rate (USD/NOK)
= $13.48 x 8.735
NOK117.75
Value per share (NOK) From above. NOK117.75
Current discount Discount to share price of NOK34.60
= -1 x (NOK34.60 - NOK117.75) / NOK117.75
70.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price American Shipping is available for.
Intrinsic value
>50%
Share price is NOK34.6 vs Future cash flow value of NOK117.75
Current Discount Checks
For American Shipping to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • American Shipping's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • American Shipping's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for American Shipping's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are American Shipping's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OB:AMSC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $0.09
OB:AMSC Share Price ** OB (2019-06-19) in NOK NOK34.6
OB:AMSC Share Price converted to USD reporting currency Exchange rate (NOK/ USD) 0.114 $3.96
Norway Shipping Industry PE Ratio Median Figure of 10 Publicly-Listed Shipping Companies 10.19x
Norway Market PE Ratio Median Figure of 135 Publicly-Listed Companies 13.16x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of American Shipping.

OB:AMSC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OB:AMSC Share Price ÷ EPS (both in USD)

= 3.96 ÷ 0.09

42.19x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • American Shipping is overvalued based on earnings compared to the NO Shipping industry average.
  • American Shipping is overvalued based on earnings compared to the Norway market.
Price based on expected Growth
Does American Shipping's expected growth come at a high price?
Raw Data
OB:AMSC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 42.19x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
81.4%per year
Norway Shipping Industry PEG Ratio Median Figure of 7 Publicly-Listed Shipping Companies 0.51x
Norway Market PEG Ratio Median Figure of 105 Publicly-Listed Companies 0.86x

*Line of best fit is calculated by linear regression .

OB:AMSC PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 42.19x ÷ 81.4%

0.52x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • American Shipping is good value based on expected growth next year.
Price based on value of assets
What value do investors place on American Shipping's assets?
Raw Data
OB:AMSC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $2.84
OB:AMSC Share Price * OB (2019-06-19) in NOK NOK34.6
OB:AMSC Share Price converted to USD reporting currency Exchange rate (NOK/ USD) 0.114 $3.96
Norway Shipping Industry PB Ratio Median Figure of 15 Publicly-Listed Shipping Companies 0.56x
Norway Market PB Ratio Median Figure of 215 Publicly-Listed Companies 1.08x
OB:AMSC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OB:AMSC Share Price ÷ Book Value per Share (both in USD)

= 3.96 ÷ 2.84

1.4x

* Primary Listing of American Shipping.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • American Shipping is overvalued based on assets compared to the NO Shipping industry average.
X
Value checks
We assess American Shipping's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Shipping industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Shipping industry average (and greater than 0)? (1 check)
  5. American Shipping has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

AMSC Future Performance

 How is American Shipping expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
81.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is American Shipping expected to grow at an attractive rate?
  • American Shipping's earnings growth is expected to exceed the low risk savings rate of 1.8%.
Growth vs Market Checks
  • American Shipping's earnings growth is expected to exceed the Norway market average.
  • American Shipping's revenue growth is expected to exceed the Norway market average.
Annual Growth Rates Comparison
Raw Data
OB:AMSC Future Growth Rates Data Sources
Data Point Source Value (per year)
OB:AMSC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 81.4%
OB:AMSC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 9.9%
Norway Shipping Industry Earnings Growth Rate Market Cap Weighted Average 40.6%
Norway Shipping Industry Revenue Growth Rate Market Cap Weighted Average 5.2%
Norway Market Earnings Growth Rate Market Cap Weighted Average 14%
Norway Market Revenue Growth Rate Market Cap Weighted Average 3.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OB:AMSC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OB:AMSC Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 103 66 27 2
2019-12-31 92 49 13 2
OB:AMSC Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 88 43 6
2018-12-31 88 48 9
2018-09-30 88 48 18
2018-06-30 88 48 19
2018-03-31 88 46 19
2017-12-31 88 51 13
2017-09-30 88 54 11
2017-06-30 88 55 10
2017-03-31 88 54 8
2016-12-31 88 57 7
2016-09-30 88 53 -3
2016-06-30 88 57 -1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • American Shipping's earnings are expected to grow significantly at over 20% yearly.
  • American Shipping's revenue is expected to grow by 9.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OB:AMSC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from American Shipping Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:AMSC Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.45 0.45 0.45 1.00
2019-12-31 0.21 0.21 0.21 1.00
OB:AMSC Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 0.09
2018-12-31 0.14
2018-09-30 0.30
2018-06-30 0.32
2018-03-31 0.31
2017-12-31 0.22
2017-09-30 0.18
2017-06-30 0.16
2017-03-31 0.13
2016-12-31 0.12
2016-09-30 -0.05
2016-06-30 -0.02

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if American Shipping will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess American Shipping's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Norway market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Norway market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
American Shipping has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

AMSC Past Performance

  How has American Shipping performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare American Shipping's growth in the last year to its industry (Shipping).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • American Shipping's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • American Shipping's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • American Shipping's 1-year earnings growth is negative, it can't be compared to the NO Shipping industry average.
Earnings and Revenue History
American Shipping's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from American Shipping Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:AMSC Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 87.80 5.69 1.91
2018-12-31 87.80 8.59 1.91
2018-09-30 87.80 18.21 1.21
2018-06-30 87.80 19.21 1.21
2018-03-31 87.80 18.61 1.21
2017-12-31 87.80 13.31 1.21
2017-09-30 87.84 10.91 1.20
2017-06-30 87.74 9.61 1.20
2017-03-31 87.74 7.61 1.20
2016-12-31 88.04 7.11 1.20
2016-09-30 87.99 -3.31 1.00
2016-06-30 88.09 -1.31 1.00
2016-03-31 87.99 3.70 1.00
2015-12-31 87.79 9.70 1.00
2015-09-30 87.84 16.38 1.12
2015-06-30 87.74 15.58 1.12
2015-03-31 87.74 13.88 1.12
2014-12-31 87.64 22.98 1.12
2014-09-30 87.55 23.71 1.55
2014-06-30 87.45 21.51 1.55
2014-03-31 87.45 31.81 1.55
2013-12-31 87.35 30.91 1.55
2013-09-30 87.59 27.02 1.50
2013-06-30 87.79 12.72 1.50
2013-03-31 87.59 11.52 1.50
2012-12-31 87.79 -8.88 1.50
2012-09-30 87.37 -1.86 1.12
2012-06-30 87.07 18.84 1.12

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • American Shipping has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • American Shipping used its assets more efficiently than the NO Shipping industry average last year based on Return on Assets.
  • American Shipping has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess American Shipping's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Shipping industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
American Shipping has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

AMSC Health

 How is American Shipping's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up American Shipping's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • American Shipping is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • American Shipping's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of American Shipping's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from American Shipping Company Filings, last reported 2 months ago.

OB:AMSC Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 172.10 588.00 48.90
2018-12-31 176.07 601.94 51.03
2018-09-30 180.60 609.00 47.30
2018-06-30 183.00 615.50 51.30
2018-03-31 185.80 622.00 46.30
2017-12-31 186.87 628.40 51.95
2017-09-30 181.80 635.00 46.30
2017-06-30 183.10 641.80 51.00
2017-03-31 186.50 653.70 46.80
2016-12-31 195.64 664.42 49.05
2016-09-30 203.40 673.70 40.60
2016-06-30 208.60 675.90 42.00
2016-03-31 215.70 674.50 36.40
2015-12-31 216.43 671.52 31.74
2015-09-30 228.40 712.80 60.80
2015-06-30 230.40 727.40 69.10
2015-03-31 232.30 741.90 76.80
2014-12-31 234.55 755.80 85.20
2014-09-30 236.70 769.90 93.80
2014-06-30 239.40 785.40 135.20
2014-03-31 242.90 798.60 138.60
2013-12-31 72.80 849.09 12.34
2013-09-30 68.30 860.40 13.60
2013-06-30 67.10 869.90 14.10
2013-03-31 54.10 889.50 14.90
2012-12-31 41.89 910.02 15.44
2012-09-30 41.30 917.50 16.60
2012-06-30 54.40 951.40 19.60
  • American Shipping's level of debt (341.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (328.8% vs 341.7% today).
  • Debt is not well covered by operating cash flow (7.4%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.2x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess American Shipping's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. American Shipping has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

AMSC Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
8.08%
Current annual income from American Shipping dividends. Estimated to be 10.1% next year.
If you bought NOK2,000 of American Shipping shares you are expected to receive NOK162 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • American Shipping's pays a higher dividend yield than the bottom 25% of dividend payers in Norway (2.66%).
  • American Shipping's dividend is above the markets top 25% of dividend payers in Norway (6.6%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OB:AMSC Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Norway Shipping Industry Average Dividend Yield Market Cap Weighted Average of 11 Stocks 3.8%
Norway Market Average Dividend Yield Market Cap Weighted Average of 110 Stocks 4.5%
Norway Minimum Threshold Dividend Yield 10th Percentile 1.9%
Norway Bottom 25% Dividend Yield 25th Percentile 2.7%
Norway Top 25% Dividend Yield 75th Percentile 6.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OB:AMSC Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.48 1.00
2019-12-31 0.32 1.00
OB:AMSC Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-21 0.320 8.195
2019-02-28 0.320 8.340
2018-11-15 0.320 8.367
2018-08-23 0.320 8.403
2018-05-23 0.320 9.353
2018-04-04 0.320 9.477
2018-02-14 0.320 10.733
2017-02-06 0.496 16.658
2016-11-08 0.496 16.678
2016-08-16 0.496 16.232
2016-05-24 0.428 14.491
2016-02-17 0.428 13.351
2015-11-05 0.412 13.038
2015-08-13 0.412 9.100
2015-05-13 0.412 7.884
2015-03-26 0.412 9.644
2015-02-13 0.412 10.279
2014-10-15 0.400 8.020
2014-07-15 0.400 5.511
2014-05-13 0.400 5.087
2014-03-17 0.400 5.272

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • American Shipping has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • American Shipping has only been paying a dividend for 5 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of American Shipping's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.3x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess American Shipping's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can American Shipping afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. American Shipping has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

AMSC Management

 What is the CEO of American Shipping's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Pal Magnussen
COMPENSATION $891,060
AGE 46
TENURE AS CEO 4.4 years
CEO Bio

Mr. Pål Lothe Magnussen has been the Chief Executive Officer and President of American Shipping Company ASA since January, 2015 and served as its Chief Financial Officer from June 1, 2014 to January 1, 2015. Mr. Magnussen served as a Director of the Investment Banking Division at DNB Markets where he has worked since 2007. He spent five years as Vice President of Corporate Banking in DNB Bank in New York, Singapore and Oslo. He has experience as project manager in the Norwegian Trade Council and Fornybar Energi ASA. He holds an MBA in Corporate Finance from Columbia University, New York and a Master of Science in International Business from the Norwegian School of Management, Oslo.

CEO Compensation
  • Pal's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Pal's remuneration is higher than average for companies of similar size in Norway.
Management Team Tenure

Average tenure and age of the American Shipping management team in years:

10.9
Average Tenure
46
Average Age
  • The average tenure for the American Shipping management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Pal Magnussen

TITLE
CEO & President
COMPENSATION
$891K
AGE
46
TENURE
4.4 yrs

Morten Bakke

TITLE
Chief Financial Officer
COMPENSATION
$525K
TENURE
3.2 yrs

Leigh Jaros

TITLE
Controller
COMPENSATION
$262K
TENURE
10.9 yrs

Scott Clapham

TITLE
Vice President of Engineering and Business Development
AGE
44
TENURE
13.7 yrs

Jeff Theisen

TITLE
Vice President of Finance
COMPENSATION
$133K
AGE
50
TENURE
12.1 yrs
Board of Directors Tenure

Average tenure and age of the American Shipping board of directors in years:

7.3
Average Tenure
60
Average Age
  • The tenure for the American Shipping board of directors is about average.
Board of Directors

Annette Beate Wacknitz Justad

TITLE
Chairman of the Board
AGE
60
TENURE
9.2 yrs

Peter Knudsen

TITLE
Director
AGE
61
TENURE
7.3 yrs

Kristian Røkke

TITLE
Director
AGE
35
TENURE
1.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (NOK) Value (NOK)
X
Management checks
We assess American Shipping's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. American Shipping has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

AMSC News

Simply Wall St News

Are American Shipping Company ASA’s (OB:AMSC) High Returns Really That Great?

The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for American Shipping: 0.068 = US$50m ÷ (US$783m - US$44m) (Based on the trailing twelve months to March 2019.) So, American Shipping has an ROCE of 6.8%. … Due to the way ROCE is calculated, a high level of current liabilities makes a company look as though it has less capital employed, and thus can (sometimes unfairly) boost the ROCE. … American Shipping has a low level of current liabilities, which have a minimal impact on its uninspiring ROCE.

Simply Wall St -

2 Days Left Until American Shipping Company ASA (OB:AMSC) Trades Ex-Dividend

Check out our latest analysis for American Shipping How I analyze a dividend stock If you are a dividend investor, you should always assess these five key metrics: Is their annual yield among the top 25% of dividend payers? … OB:AMSC Historical Dividend Yield, May 24th 2019 How well does American Shipping fit our criteria? … Compared to its peers, American Shipping produces a yield of 8.4%, which is high for Shipping stocks.

Simply Wall St -

How Many American Shipping Company ASA (OB:AMSC) Shares Do Institutions Own?

Every investor in American Shipping Company ASA (OB:AMSC) should be aware of the most powerful shareholder groups. … Check out our latest analysis for American Shipping OB:AMSC Ownership Summary, May 9th 2019 What Does The Institutional Ownership Tell Us About American Shipping? … Insider Ownership Of American Shipping The definition of company insiders can be subjective, and does vary between jurisdictions.

Simply Wall St -

Should You Be Tempted To Sell American Shipping Company ASA (OB:AMSC) Because Of Its P/E Ratio?

We'll apply a basic P/E ratio analysis to American Shipping Company ASA's (OB:AMSC), to help you decide if the stock is worth further research. … Price to Earnings Ratio = Price per Share (in the reporting currency) ÷ Earnings per Share (EPS) … P/E of 27.86 = $3.95 (Note: this is the share price in the reporting currency, namely, USD ) ÷ $0.14

Simply Wall St -

Read This Before Judging American Shipping Company ASA's (OB:AMSC) ROE

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … That means that for every NOK1 worth of shareholders' equity, it generated NOK0.049 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is American Shipping Company ASA (OB:AMSC) Creating Value For Shareholders?

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … What is Return On Capital Employed (ROCE)? … Analysts use this formula to calculate return on capital employed:

Simply Wall St -

Did You Miss American Shipping's 40% Share Price Gain?

To wit, the American Shipping Company ASA (OB:AMSC) share price is 40% higher than it was a year ago, much better than the market return of around 8.8% in the same period. … One flawed but reasonable way to assess how sentiment around a company has changed, is to compare the earnings per share (EPS) with the share price. … During the last year American Shipping grew its earnings per share (EPS) by 67%.

Simply Wall St -

Does American Shipping Company ASA's (OB:AMSC) CEO Pay Compare Well With Peers?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … View our latest analysis for American Shipping … How Does Pal Magnussen's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Despite Its High P/E Ratio, Is American Shipping Company ASA (OB:AMSC) Still Undervalued?

To keep it practical, we'll show how American Shipping Company ASA's (OB:AMSC) P/E ratio could help you assess the value on offer. … Price to Earnings Ratio = Share Price (in reporting currency) ÷ Earnings per Share (EPS) … P/E of 12.46 = $3.74 (Note: this is the share price in the reporting currency, namely, USD ) ÷ $0.30

Simply Wall St -

How Much Of American Shipping Company ASA (OB:AMSC) Do Institutions Own?

The big shareholder groups in American Shipping Company ASA (OB:AMSC) have power over the company. … Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … American Shipping is a smaller company with a market capitalization of øre2.0b, so it may still be flying under the radar of many institutional investors.

Simply Wall St -

AMSC Company Info

Description

American Shipping Company ASA, through its subsidiaries, operates as a ship owning and lease finance company in the United States. It is involved in the purchase and bareboat chartering of product tankers, shuttle tankers, and other vessels to operators and end users in the Jones Act market. American Shipping Company ASA operates a fleet of 9 product tankers and 1 shuttle tanker. The company was formerly known as Aker American Shipping ASA and changed its name to American Shipping Company ASA in June 2008. American Shipping Company ASA was founded in 2005 and is headquartered in Lysaker, Norway.

Details
Name: American Shipping Company ASA
AMSC
Exchange: OB
Founded: 2005
NOK2,097,331,073
60,616,505
Website: http://www.americanshippingco.com
Address: American Shipping Company ASA
Building B,
Oksenøyveien 10,
Lysaker,
Akershus, 1366,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB AMSC Ordinary Shares Oslo Bors NO NOK 11. Jul 2005
OTCPK ASCJ.F Ordinary Shares Pink Sheets LLC US USD 11. Jul 2005
LSE 0JE5 Ordinary Shares London Stock Exchange GB NOK 11. Jul 2005
BATS-CHIXE AMSCO Ordinary Shares BATS 'Chi-X Europe' GB NOK 11. Jul 2005
Number of employees
Current staff
Staff numbers
3
American Shipping employees.
Industry
Marine
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/19 20:51
End of day share price update: 2019/06/19 00:00
Last estimates confirmation: 2019/03/18
Last earnings filing: 2019/05/21
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.