Belships ASA owns and operates dry bulk ships worldwide.
Price History & Performance
|Historical stock prices|
|Current Share Price||kr13.70|
|52 Week High||kr5.60|
|52 Week Low||kr15.70|
|1 Month Change||-3.52%|
|3 Month Change||-6.16%|
|1 Year Change||132.20%|
|3 Year Change||149.09%|
|5 Year Change||355.15%|
|Change since IPO||-57.85%|
Recent News & Updates
|BELCO||NO Shipping||NO Market|
Return vs Industry: BELCO exceeded the Norwegian Shipping industry which returned 79.1% over the past year.
Return vs Market: BELCO exceeded the Norwegian Market which returned 25.9% over the past year.
Stable Share Price: BELCO is not significantly more volatile than the rest of Norwegian stocks over the past 3 months, typically moving +/- 7% a week.
Volatility Over Time: BELCO's weekly volatility (7%) has been stable over the past year.
About the Company
Belships ASA owns and operates dry bulk ships worldwide. It operates through Dry Bulk and Technical Management segments. The company operates a fleet of 23 ships.
Belships Fundamentals Summary
|BELCO fundamental statistics|
Is BELCO overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|BELCO income statement (TTM)|
|Cost of Revenue||US$251.18m|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
Nov 12, 2021
|Earnings per share (EPS)||0.097|
|Net Profit Margin||7.65%|
How did BELCO perform over the long term?See historical performance and comparison
2.8%Current Dividend Yield
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: BELCO (NOK13.7) is trading below our estimate of fair value (NOK31.22)
Significantly Below Fair Value: BELCO is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: BELCO is poor value based on its PE Ratio (16.4x) compared to the Norwegian Shipping industry average (12x).
PE vs Market: BELCO is poor value based on its PE Ratio (16.4x) compared to the Norwegian market (13.3x).
Price to Earnings Growth Ratio
PEG Ratio: BELCO's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: BELCO is overvalued based on its PB Ratio (2.1x) compared to the NO Shipping industry average (1.3x).
How is Belships forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: BELCO's earnings are forecast to decline over the next 3 years (-3.9% per year).
Earnings vs Market: BELCO's earnings are forecast to decline over the next 3 years (-3.9% per year).
High Growth Earnings: BELCO's earnings are forecast to decline over the next 3 years.
Revenue vs Market: BELCO's revenue (14.8% per year) is forecast to grow faster than the Norwegian market (5.8% per year).
High Growth Revenue: BELCO's revenue (14.8% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: BELCO's Return on Equity is forecast to be high in 3 years time (30.5%)
How has Belships performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: BELCO has high quality earnings.
Growing Profit Margin: BELCO became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: BELCO has become profitable over the past 5 years, growing earnings by 21.2% per year.
Accelerating Growth: BELCO has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: BELCO has become profitable in the last year, making it difficult to compare its past year earnings growth to the Shipping industry (144.4%).
Return on Equity
High ROE: BELCO's Return on Equity (17.5%) is considered low.
How is Belships's financial position?
Financial Position Analysis
Short Term Liabilities: BELCO's short term assets ($115.2M) exceed its short term liabilities ($78.6M).
Long Term Liabilities: BELCO's short term assets ($115.2M) do not cover its long term liabilities ($256.7M).
Debt to Equity History and Analysis
Debt Level: BELCO's debt to equity ratio (60.4%) is considered high.
Reducing Debt: BELCO's debt to equity ratio has reduced from 211.4% to 60.4% over the past 5 years.
Debt Coverage: BELCO's debt is well covered by operating cash flow (50%).
Interest Coverage: BELCO's interest payments on its debt are not well covered by EBIT (2.3x coverage).
What is Belships's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: BELCO's dividend (2.78%) is higher than the bottom 25% of dividend payers in the Norwegian market (1.86%).
High Dividend: BELCO's dividend (2.78%) is low compared to the top 25% of dividend payers in the Norwegian market (5.14%).
Stability and Growth of Payments
Stable Dividend: BELCO has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: BELCO's dividend payments have increased, but the company has only paid a dividend for 8 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (38.9%), BELCO's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: BELCO's dividends in 3 years are forecast to be well covered by earnings (49.1% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Lars Skarsgård (40 yo)
Mr. Lars Christian Skarsgård has been Chief Executive Officer of Belships ASA since March 15, 2019. Mr. Skarsgård serves as a Director of Fearnleys AS.
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: BELCO 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 11%.
Belships ASA's employee growth, exchange listings and data sources
- Name: Belships ASA
- Ticker: BELCO
- Exchange: OB
- Founded: 1918
- Industry: Marine
- Sector: Transportation
- Market Cap: kr3.463b
- Shares outstanding: 252.75m
- Website: https://www.belships.com
Number of Employees
- Belships ASA
- Lilleakerveien 6D
- 7th Floor
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/09/24 22:54|
|End of Day Share Price||2021/09/24 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.