OB:ODFB

Stock Analysis Report

Executive Summary

Odfjell SE engages in the transportation and storage of bulk liquid chemicals, acids, edible oils, and other special products.

Rewards

Trading at 74.1% below its fair value

Earnings are forecast to grow 91.64% per year

Risk Analysis

No risks detected for ODFB from our risk checks.


Snowflake Analysis

Reasonable growth potential and fair value.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: ODFB has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

2.2%

ODFB

-0.2%

NO Shipping

-0.07%

NO Market


1 Year Return

-1.4%

ODFB

-1.2%

NO Shipping

0.06%

NO Market

Return vs Industry: ODFB exceeded the Norwegian Shipping industry which returned -2.1% over the past year.

Return vs Market: ODFB exceeded the Norwegian Market which returned -1.2% over the past year.


Shareholder returns

ODFBIndustryMarket
7 Day2.2%-0.2%-0.07%
30 Day-4.1%-6.0%-2.9%
90 Day0.7%6.0%2.9%
1 Year-1.4%-1.4%2.2%-1.2%5.3%0.06%
3 Year12.0%1.4%-11.5%-18.0%31.6%15.2%
5 Year47.5%33.6%-1.8%-14.4%56.8%21.2%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is Odfjell 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: ODFB (NOK28.2) is trading below our estimate of fair value (NOK108.89)

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


Price To Earnings Ratio

PE vs Industry: ODFB is unprofitable, so we can't compare its PE Ratio to the Shipping industry average.

PE vs Market: ODFB is unprofitable, so we can't compare its PE Ratio to the Norwegian market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate ODFB's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: ODFB is good value based on its PB Ratio (0.4x) compared to the NO Shipping industry average (0.6x).


Next Steps

Future Growth

How is Odfjell forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

91.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ODFB is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (0.7%).

Earnings vs Market: ODFB is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: ODFB's is expected to become profitable in the next 3 years.

Revenue vs Market: ODFB's revenue (6.3% per year) is forecast to grow faster than the Norwegian market (3.5% per year).

High Growth Revenue: ODFB's revenue (6.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ODFB's Return on Equity is forecast to be low in 3 years time (9%).


Next Steps

Past Performance

How has Odfjell performed over the past 5 years?

-20.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ODFB is currently unprofitable.

Growing Profit Margin: ODFB is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: ODFB is unprofitable, and losses have increased over the past 5 years at a rate of -20.2% per year.

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

Earnings vs Industry: ODFB is unprofitable, making it difficult to compare its past year earnings growth to the Shipping industry (-23.5%).


Return on Equity

High ROE: ODFB has a negative Return on Equity (-6.64%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Odfjell's financial position?


Financial Position Analysis

Short Term Liabilities: ODFB's short term assets ($222.8M) do not cover its short term liabilities ($299.5M).

Long Term Liabilities: ODFB's short term assets ($222.8M) do not cover its long term liabilities ($1.2B).


Debt to Equity History and Analysis

Debt Level: ODFB's debt to equity ratio (114.3%) is considered high.

Reducing Debt: ODFB's debt to equity ratio has reduced from 142.1% to 114.3% over the past 5 years.


Balance Sheet

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

Debt Coverage by Assets: ODFB's debt is not covered by short term assets (assets are 0.4x 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: ODFB has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if ODFB has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

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

2.95%

Forecast Dividend Yield


Dividend Yield vs Market

company0%marketbottom25%2.9%markettop25%6.2%industryaverage3.9%forecastin3Years2.9%

Current dividend yield vs market & industry

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

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


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ODFB's dividends per share have been stable in the past.

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


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ODFB's dividend in 3 years as they are not forecast to pay a notable one for the Norwegian market.


Next Steps

Management

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

3.0yrs

Average management tenure


CEO

Kristian Mørch (52yo)

4.5yrs

Tenure

US$1,078,000

Compensation

Mr. Kristian Verner Mørch is the Chief Executive Officer of Odfjell SE since August 1, 2015. Mr. Mørch served as an Interim Chief Executive Officer of Odfjell Terminals BV until May 1, 2016. Mr. Morch has  ...


CEO Compensation Analysis

Compensation vs Market: Kristian's total compensation ($USD1.08M) is above average for companies of similar size in the Norwegian market ($USD459.24K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Laurence Odfjell
Executive Chairman of the Board9.8yrsUS$138.00k43.28% $974.6m
Kristian Mørch
Chief Executive Officer4.5yrsUS$1.08m0.23% $5.2m
Terje Iversen
Chief Financial Officer8.4yrsUS$353.00k0.040% $907.4k
Harald Fotland
Chief Operation Officer2.1yrsUS$420.00k0.040% $902.0k
Øistein Jensen
Chief of Staff4yrsUS$282.00k0.040% $895.2k
Bjørn Røed
Manager Investor Relations & Research0yrsno datano data
Geirmund Drivenes
Global Head of Ship Management2.1yrsno datano data
Bjørn Hammer
Global Head of Tanker Trading2.1yrsno datano data

3.0yrs

Average Tenure

52yo

Average Age

Experienced Management: ODFB's management team is considered experienced (3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Laurence Odfjell
Executive Chairman of the Board9.8yrsUS$138.00k43.28% $974.6m
Åse Michelet
Independent Director2.8yrsUS$29.00kno data
Nils Dyvik
Director0.08yrsno datano data
Christine Rødsæther
Independent Director9.8yrsUS$52.00kno data
Jannicke Nilsson
Independent Director7.8yrsUS$52.00kno data
Åke Gregertsen
Independent Director6.8yrsUS$83.00k0.040% $895.4k

7.3yrs

Average Tenure

59.5yo

Average Age

Experienced Board: ODFB's board of directors are considered experienced (7.3 years average tenure).


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.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Odfjell SE's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Odfjell SE
  • Ticker: ODFB
  • Exchange: OB
  • Founded: 1914
  • Industry: Marine
  • Sector: Transportation
  • Market Cap: kr2.252b
  • Shares outstanding: 78.78m
  • Website: https://www.odfjell.com

Number of Employees


Location

  • Odfjell SE
  • Conrad Mohrs veg 29
  • PO Box 6101
  • Bergen
  • Hordaland
  • 5892
  • Norway

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ODFOB (Oslo Bors)YesSeries A SharesNONOKJan 1992
ODFBOB (Oslo Bors)Series B SharesNONOKJan 1992
O7FDB (Deutsche Boerse AG)YesSeries A SharesDEEURJan 1992
0J77LSE (London Stock Exchange)YesSeries A SharesGBNOKJan 1992
0J78LSE (London Stock Exchange)Series B SharesGBNOKJan 1992
ODJA.FOTCPK (Pink Sheets LLC)YesSeries A SharesUSUSDJan 1992
O7F1DB (Deutsche Boerse AG)Series B SharesDEEURJan 1992
ODFOBATS-CHIXE (BATS 'Chi-X Europe')YesSeries A SharesGBNOKJan 1992
ODFBOBATS-CHIXE (BATS 'Chi-X Europe')Series B SharesGBNOKJan 1992

Biography

Odfjell SE engages in the transportation and storage of bulk liquid chemicals, acids, edible oils, and other special products. The company operates through three segments: Chemical Tankers, Tank Terminals, and Gas Carriers. It owns and operates chemical tankers that offers global and regional transportation; tank terminals, which provides storage of various chemical and petroleum products; and LPG/ethylene carriers. As of December 31, 2018, it operated a chemical tanker fleet of 83 vessels, including 33 owned, 8 bareboat chartered, 19 time chartered vessels, 13 leased, 5 pool vessels, and 5 on commercial management, as well as 2 LPG/ethylene carriers. The company's terminal network comprises of 553 tanks with 1.51 million cubic meters of storage capacity. It operates in Europe, North America, South America, the Middle East, Asia, Australia, Africa, and internationally. Odfjell SE was founded in 1914 and is headquartered in Bergen, Norway. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/20 21:03
End of Day Share Price2020/02/20 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.