OTCNO:WEST

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Western Bulk Chartering

Executive Summary

Western Bulk Chartering AS, together with its subsidiaries, operates in the dry bulk shipping market. More Details


Snowflake Analysis

Adequate balance sheet with weak fundamentals.

Share Price & News

How has Western Bulk Chartering's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: Insufficient data to determine WEST's volatility over the past 3 months.

Volatility Over Time: Insufficient data to determine WEST's volatility change over the past year.


Market Performance


7 Day Return

30.0%

WEST

-0.7%

NO Shipping

-0.6%

NO Market


1 Year Return

n/a

WEST

-4.7%

NO Shipping

0.4%

NO Market

Return vs Industry: Insufficient data to determine how WEST performed against the Norwegian Shipping industry.

Return vs Market: Insufficient data to determine how WEST performed against the Norwegian Market.


Shareholder returns

WESTIndustryMarket
7 Day30.0%-0.7%-0.6%
30 Day44.4%14.0%13.9%
90 Day30.0%22.1%7.8%
1 Yearn/a3.0%-4.7%4.1%0.4%
3 Year-69.8%-69.8%-23.4%-35.7%8.5%-3.7%
5 Yearn/a12.2%-0.3%58.0%26.8%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is Western Bulk Chartering undervalued compared to its fair value and its price relative to the market?

2.55x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate WEST's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate WEST's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: WEST is unprofitable, so we can't compare its PE Ratio to the NO Shipping industry average.

PE vs Market: WEST 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 WEST's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: WEST is overvalued based on its PB Ratio (2.6x) compared to the NO Shipping industry average (0.8x).


Next Steps

Future Growth

How is Western Bulk Chartering forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

67.1%

Forecasted Transportation industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Western Bulk Chartering has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Western Bulk Chartering performed over the past 5 years?

11.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: WEST is currently unprofitable.

Growing Profit Margin: WEST is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: WEST is unprofitable, but has reduced losses over the past 5 years at a rate of 11.2% per year.

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

Earnings vs Industry: WEST is unprofitable, making it difficult to compare its past year earnings growth to the Shipping industry (-34.3%).


Return on Equity

High ROE: WEST has a negative Return on Equity (-114.92%), as it is currently unprofitable.


Next Steps

Financial Health

How is Western Bulk Chartering's financial position?


Financial Position Analysis

Short Term Liabilities: WEST's short term assets ($74.6M) exceed its short term liabilities ($61.0M).

Long Term Liabilities: WEST's short term assets ($74.6M) exceed its long term liabilities ($1.4M).


Debt to Equity History and Analysis

Debt Level: WEST's debt to equity ratio (181.4%) is considered high.

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


Balance Sheet


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: WEST has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: WEST has sufficient cash runway for 2.1 years if free cash flow continues to reduce at historical rates of 18.8% each year.


Next Steps

Dividend

What is Western Bulk Chartering current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

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

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


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of WEST'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?

1.3yrs

Average management tenure


CEO

Hans Aasnaes (57 yo)

1.33yrs

Tenure

US$489,000

Compensation

Mr. Hans Aasnæs, CFA has been Chief Executive Officer of Western Bulk Chartering AS since July 1, 2019. Mr. Aasnæs serves as the Chief Executive Officer and Director of Umoe BioEnergy ASA. Mr. Aasnæs serve...


CEO Compensation Analysis

Compensation vs Market: Hans's total compensation ($USD489.00K) is above average for companies of similar size in the Norwegian market ($USD375.58K).

Compensation vs Earnings: Insufficient data to compare Hans's compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
Hans Aasnaes
Chief Executive Officer1.33yrsUS$489.00kno data
Kenneth Thu
Chief Financial Officer3.42yrsno datano data
Egil Husby
Chief Strategy & Transformation Officer1.33yrsno datano data

1.3yrs

Average Tenure

Experienced Management: WEST's management team is not considered experienced ( 1.3 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 been substantially diluted in the past year, with total shares outstanding growing by 97%.


Top Shareholders

Company Information

Western Bulk Chartering AS's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Western Bulk Chartering AS
  • Ticker: WEST
  • Exchange: OTCNO
  • Founded: 1982
  • Industry: Marine
  • Sector: Transportation
  • Market Cap: kr362.184m
  • Shares outstanding: 27.86m
  • Website: https://www.westernbulk.com

Number of Employees


Location

  • Western Bulk Chartering AS
  • Henrik Ibsens Gate 100
  • PO Box 2868
  • Oslo
  • Oslo
  • 230
  • Norway

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
WESTOTCNO (Norway OTC)YesOrdinary SharesNONOKJun 2017

Biography

Western Bulk Chartering AS, together with its subsidiaries, operates in the dry bulk shipping market. It is involved in chartering and operating dry bulk vessels for the transportation of products, such as...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/12/01 19:12
End of Day Share Price2020/11/30 00:00
Earnings2020/06/30
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.