Belships ASA owns and operates dry bulk ships worldwide.
Good value with reasonable growth potential.
Share Price & News
How has Belships's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: BEL has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: BEL exceeded the Norwegian Shipping industry which returned -2.1% over the past year.
Return vs Market: BEL exceeded the Norwegian Market which returned -0.7% over the past year.
Price Volatility Vs. Market
How volatile is Belships's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 year ago | Simply Wall StShould Belships ASA’s (OB:BEL) Weak Investment Returns Worry You?
1 year ago | Simply Wall StA Closer Look At Belships ASA's (OB:BEL) Impressive ROE
1 year ago | Simply Wall StWhat Do You Get For Owning Belships ASA (OB:BEL)?
Is Belships undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: BEL (NOK6.6) is trading below our estimate of fair value (NOK24.36)
Significantly Below Fair Value: BEL is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: BEL is poor value based on its PE Ratio (23.7x) compared to the Shipping industry average (11.9x).
PE vs Market: BEL is poor value based on its PE Ratio (23.7x) compared to the Norwegian market (15.3x).
Price to Earnings Growth Ratio
PEG Ratio: BEL is good value based on its PEG Ratio (0.6x)
Price to Book Ratio
PB vs Industry: BEL is good value based on its PB Ratio (0.6x) compared to the NO Shipping industry average (0.6x).
How is Belships forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: BEL's forecast earnings growth (39.8% per year) is above the savings rate (0.7%).
Earnings vs Market: BEL's earnings (39.8% per year) are forecast to grow faster than the Norwegian market (18.7% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: BEL's revenue (8.5% per year) is forecast to grow faster than the Norwegian market (3.3% per year).
High Growth Revenue: BEL's revenue (8.5% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: BEL's Return on Equity is forecast to be low in 3 years time (14.7%).
How has Belships performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: BEL has a large one-off gain of $4.4M impacting its December 31 2019 financial results.
Growing Profit Margin: BEL's current net profit margins (2.7%) are lower than last year (14.9%).
Past Earnings Growth Analysis
Earnings Trend: BEL has become profitable over the past 5 years, growing earnings by 54.7% per year.
Accelerating Growth: BEL's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: BEL had negative earnings growth (-80.8%) over the past year, making it difficult to compare to the Shipping industry average (-13.5%).
Return on Equity
High ROE: BEL's Return on Equity (3.3%) is considered low.
Return on Assets
Return on Capital Employed
How is Belships's financial position?
Financial Position Analysis
Short Term Liabilities: BEL's short term assets ($64.8M) exceed its short term liabilities ($36.4M).
Long Term Liabilities: BEL's short term assets ($64.8M) do not cover its long term liabilities ($205.4M).
Debt to Equity History and Analysis
Debt Level: BEL's debt to equity ratio (87.5%) is considered high.
Reducing Debt: BEL's debt to equity ratio has increased from 71% to 87.5% over the past 5 years.
Inventory Level: BEL has a high level of physical assets or inventory.
Debt Coverage by Assets: BEL's debt is not covered by short term assets (assets are 0.5x 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: BEL is profitable, therefore cash runway is not a concern.
Forecast Cash Runway: BEL is profitable, therefore cash runway is not a concern.
What is Belships's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: BEL's dividend (0.75%) isn’t notable compared to the bottom 25% of dividend payers in the Norwegian market (2.83%).
High Dividend: BEL's dividend (0.75%) is low compared to the top 25% of dividend payers in the Norwegian market (6.18%).
Stability and Growth of Payments
Stable Dividend: BEL is not paying a notable dividend for the Norwegian market, therefore no need to check if payments are stable.
Growing Dividend: BEL is not paying a notable dividend for the Norwegian market, therefore no need to check if payments are increasing.
Current Payout to Shareholders
Dividend Coverage: BEL is not paying a notable dividend for the Norwegian market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of BEL's dividend in 3 years as they are not forecast to pay a notable one for the Norwegian market.
How experienced are the management team and are they aligned to shareholders interests?
Lars Skarsgård (38yo)
Mr. Lars Christian Skarsgård has been Chief Executive Officer of Belships ASA since March 15, 2019. Mr. Skarsgård serves as a Director at Fearnleys AS.
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.
Recent Insider Transactions
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 22.5%.
Belships ASA's company bio, employee growth, exchange listings and data sources
- Name: Belships ASA
- Ticker: BEL
- Exchange: OB
- Founded: 1918
- Industry: Marine
- Sector: Transportation
- Market Cap: kr1.397b
- Shares outstanding: 211.68m
- Website: https://www.belships.com
Number of Employees
- Belships ASA
- Lilleakerveien 4
- Box 23
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|BEL||OB (Oslo Bors)||Yes||Ordinary Shares||NO||NOK||Jan 1992|
|0DQB||LSE (London Stock Exchange)||Yes||Ordinary Shares||GB||NOK||Jan 1992|
|BELO||BATS-CHIXE (BATS 'Chi-X Europe')||Yes||Ordinary Shares||GB||NOK||Jan 1992|
Belships ASA owns and operates dry bulk ships worldwide. It operates through Dry Bulk and Technical Management segments. The company operates a fleet of 15 ships. It also provides commercial management and ship management services. The company was founded in 1918 and is headquartered in Oslo, Norway.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/02/22 20:52|
|End of Day Share Price||2020/02/21 00:00|
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.