NZSE:NPH

Stock Analysis Report

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Executive Summary

Napier Port Holdings Limited provides various port services in the Napier Port. More Details


Snowflake Analysis

Flawless balance sheet with moderate growth potential.

Share Price & News

How has Napier Port Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: NPH is not significantly more volatile than the rest of NZ stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: NPH's weekly volatility (3%) has been stable over the past year.


Market Performance


7 Day Return

-2.2%

NPH

-1.0%

NZ Infrastructure

-1.3%

NZ Market


1 Year Return

8.1%

NPH

-8.0%

NZ Infrastructure

9.0%

NZ Market

Return vs Industry: NPH exceeded the NZ Infrastructure industry which returned -9% over the past year.

Return vs Market: NPH underperformed the NZ Market which returned 9.5% over the past year.


Shareholder returns

NPHIndustryMarket
7 Day-2.2%-1.0%-1.3%
30 Day0%1.2%1.1%
90 Day-1.4%9.6%5.4%
1 Year9.0%8.1%-7.4%-8.0%13.1%9.0%
3 Yearn/a32.2%17.3%48.0%29.2%
5 Yearn/a77.4%45.2%98.4%50.9%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Napier Port Holdings undervalued compared to its fair value and its price relative to the market?

58.59x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: NPH (NZ$3.62) is trading above our estimate of fair value (NZ$0.87)

Significantly Below Fair Value: NPH is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: NPH is poor value based on its PE Ratio (58.6x) compared to the NZ Infrastructure industry average (50.6x).

PE vs Market: NPH is poor value based on its PE Ratio (58.6x) compared to the NZ market (23x).


Price to Earnings Growth Ratio

PEG Ratio: NPH is poor value based on its PEG Ratio (4.5x)


Price to Book Ratio

PB vs Industry: NPH's PB Ratio (2.3x) is in line with the NZ Infrastructure industry average.


Next Steps

Future Growth

How is Napier Port Holdings forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

13.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: NPH's forecast earnings growth (13% per year) is above the savings rate (2.6%).

Earnings vs Market: NPH's earnings (13% per year) are forecast to grow faster than the NZ market (11.5% per year).

High Growth Earnings: NPH's earnings are forecast to grow, but not significantly.

Revenue vs Market: NPH's revenue (6.2% per year) is forecast to grow faster than the NZ market (5.7% per year).

High Growth Revenue: NPH's revenue (6.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: NPH's Return on Equity is forecast to be low in 3 years time (6%).


Next Steps

Past Performance

How has Napier Port Holdings performed over the past 5 years?

-8.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: NPH has a large one-off loss of NZ$6.2M impacting its March 31 2020 financial results.

Growing Profit Margin: NPH's current net profit margins (10.2%) are lower than last year (12.7%).


Past Earnings Growth Analysis

Earnings Trend: NPH's earnings have declined by 8.1% per year over the past 5 years.

Accelerating Growth: NPH's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: NPH had negative earnings growth (-13.8%) over the past year, making it difficult to compare to the Infrastructure industry average (-13.8%).


Return on Equity

High ROE: NPH's Return on Equity (3.1%) is considered low.


Next Steps

Financial Health

How is Napier Port Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: NPH's short term assets (NZ$32.4M) exceed its short term liabilities (NZ$18.8M).

Long Term Liabilities: NPH's short term assets (NZ$32.4M) exceed its long term liabilities (NZ$17.8M).


Debt to Equity History and Analysis

Debt Level: NPH is debt free.

Reducing Debt: NPH has no debt compared to 5 years ago when its debt to equity ratio was 40.1%.

Debt Coverage: NPH has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: NPH has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is Napier Port Holdings's current dividend yield, its reliability and sustainability?

1.38%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: NPH's dividend (1.38%) isn’t notable compared to the bottom 25% of dividend payers in the NZ market (2.72%).

High Dividend: NPH's dividend (1.38%) is low compared to the top 25% of dividend payers in the NZ market (4.32%).


Stability and Growth of Payments

Stable Dividend: NPH is not paying a notable dividend for the NZ market, therefore no need to check if payments are stable.

Growing Dividend: NPH is not paying a notable dividend for the NZ market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: NPH is not paying a notable dividend for the NZ market.


Future Payout to Shareholders

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


Next Steps

Management

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

1.8yrs

Average board tenure


CEO

Todd Dawson

2.83yrs

Tenure

Mr. Todd Dawson, BSC, PGDipBus, MInstD, PMP has been Chief Executive of Port of Napier Ltd., and Napier Port Holdings Limited since January 2018. Mr. Dawson served as Executive Director of Port of Napier L...


Board Members

NamePositionTenureCompensationOwnership
Vincent Tremaine
Independent Director1.75yrsno datano data
Stephen Moir
Independent Director3.92yrsno datano data
Blair O'Keeffe
Director1.42yrsno datano data
Edward Harvey
Independent Director1.33yrsno datano data
Diana Puketapu
Independent Director2.92yrsno datano data
Alasdair MacLeod
Independent Chairman of the Board5.92yrsno datano data
Rick Barker
Director1.42yrsno datano data

1.8yrs

Average Tenure

Experienced Board: NPH's board of directors are not considered experienced ( 1.8 years average tenure), which suggests a new board.


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: Insufficient data to determine if shareholders have been diluted in the past year.


Top Shareholders

Company Information

Napier Port Holdings Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Napier Port Holdings Limited
  • Ticker: NPH
  • Exchange: NZSE
  • Founded: 1875
  • Industry: Marine Ports and Services
  • Sector: Transportation
  • Market Cap: NZ$715.936m
  • Shares outstanding: 199.43m
  • Website: https://www.napierport.co.nz

Number of Employees


Location

  • Napier Port Holdings Limited
  • Breakwater Road
  • PO Box 947
  • Napier
  • 4140
  • New Zealand

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
NPHNZSE (New Zealand Stock Exchange)YesShare CapitalNZNZDAug 2019

Biography

Napier Port Holdings Limited provides various port services in the Napier Port. It offers marine, general cargo, container, port pack, and depot services. The company was founded in 1875 and is based in Na...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/11/24 10:43
End of Day Share Price2020/11/24 00:00
Earnings2020/03/31
Annual Earnings2019/09/30


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.