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SPN

South Port New Zealand NZSE:SPN Stock Report

Last Price

NZ$8.22

Market Cap

NZ$215.7m

7D

0.2%

1Y

-10.2%

Updated

26 Sep, 2022

Data

Company Financials
SPN fundamental analysis
Snowflake Score
Valuation1/6
Future Growth0/6
Past Performance5/6
Financial Health3/6
Dividends4/6

SPN Stock Overview

South Port New Zealand Limited provides and manages port and warehousing services in New Zealand.

South Port New Zealand Competitors

Price History & Performance

Summary of all time highs, changes and price drops for South Port New Zealand
Historical stock prices
Current Share PriceNZ$8.22
52 Week HighNZ$9.64
52 Week LowNZ$7.40
Beta0.15
1 Month Change-6.38%
3 Month Change-1.56%
1 Year Change-10.16%
3 Year Change6.75%
5 Year Change39.32%
Change since IPO722.00%

Recent News & Updates

Sep 19
South Port New Zealand (NZSE:SPN) Will Pay A Dividend Of NZ$0.2294

South Port New Zealand (NZSE:SPN) Will Pay A Dividend Of NZ$0.2294

South Port New Zealand Limited ( NZSE:SPN ) will pay a dividend of NZ$0.2294 on the 8th of November. This payment means...

Sep 01
South Port New Zealand's (NZSE:SPN) Earnings Are Weaker Than They Seem

South Port New Zealand's (NZSE:SPN) Earnings Are Weaker Than They Seem

South Port New Zealand Limited's ( NZSE:SPN ) robust earnings report didn't manage to move the market for its stock...

Shareholder Returns

SPNNZ InfrastructureNZ Market
7D0.2%0.1%-1.4%
1Y-10.2%-3.5%-17.0%

Return vs Industry: SPN underperformed the NZ Infrastructure industry which returned -3.5% over the past year.

Return vs Market: SPN exceeded the NZ Market which returned -17% over the past year.

Price Volatility

Is SPN's price volatile compared to industry and market?
SPN volatility
SPN Average Weekly Movement2.8%
Infrastructure Industry Average Movement2.8%
Market Average Movement3.8%
10% most volatile stocks in NZ Market8.0%
10% least volatile stocks in NZ Market2.7%

Stable Share Price: SPN is less volatile than 75% of NZ stocks over the past 3 months, typically moving +/- 3% a week.

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

About the Company

FoundedEmployeesCEOWebsite
1988120Nigel Gearhttps://southport.co.nz

South Port New Zealand Limited provides and manages port and warehousing services in New Zealand. The company offers marine services, including shipping movements, pilotage and procedures, marine plant and equipment, wind and tide conditions, syncrolift, hot work, and fuel transfer. It also provides port facilities, such as infrastructure and land; plant and equipment; and weighbridge services.

South Port New Zealand Fundamentals Summary

How do South Port New Zealand's earnings and revenue compare to its market cap?
SPN fundamental statistics
Market CapNZ$215.65m
Earnings (TTM)NZ$12.83m
Revenue (TTM)NZ$48.58m

16.8x

P/E Ratio

4.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SPN income statement (TTM)
RevenueNZ$48.58m
Cost of RevenueNZ$27.16m
Gross ProfitNZ$21.43m
Other ExpensesNZ$8.60m
EarningsNZ$12.83m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.49
Gross Margin44.10%
Net Profit Margin26.41%
Debt/Equity Ratio46.1%

How did SPN perform over the long term?

See historical performance and comparison

Dividends

3.3%

Current Dividend Yield

55%

Payout Ratio

Does SPN pay a reliable dividends?

See SPN dividend history and benchmarks
When do you need to buy SPN by to receive an upcoming dividend?
South Port New Zealand dividend dates
Ex Dividend DateOct 26 2022
Dividend Pay DateNov 08 2022
Days until Ex dividend30 days
Days until Dividend pay date43 days

Does SPN pay a reliable dividends?

See SPN dividend history and benchmarks
We’ve recently updated our valuation analysis.

Valuation

Is SPN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SPN?

Other financial metrics that can be useful for relative valuation.

SPN key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue4.9x
Enterprise Value/EBITDA11.4x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does SPN's PE Ratio compare to its peers?

SPN PE Ratio vs Peers
The above table shows the PE ratio for SPN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average25.9x
MMH Marsden Maritime Holdings
19.7xn/aNZ$258.1m
NPH Napier Port Holdings
28.5x19.9%NZ$589.9m
POT Port of Tauranga
40.3x6.4%NZ$4.5b
2613 China Container Terminal
14.3xn/aNT$4.1b
SPN South Port New Zealand
16.8xn/aNZ$215.7m

Price-To-Earnings vs Peers: SPN is good value based on its Price-To-Earnings Ratio (16.8x) compared to the peer average (25.9x).


Price to Earnings Ratio vs Industry

How does SPN's PE Ratio compare vs other companies in the Global Infrastructure Industry?

Price-To-Earnings vs Industry: SPN is expensive based on its Price-To-Earnings Ratio (16.8x) compared to the Global Infrastructure industry average (13.3x)


Price to Earnings Ratio vs Fair Ratio

What is SPN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SPN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio16.8x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate SPN's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of SPN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SPN (NZ$8.22) is trading above our estimate of fair value (NZ$5.29)

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


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


Discover undervalued companies

Future Growth

How is South Port New Zealand forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


39.0%

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 South Port New Zealand 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.


Discover growth companies

Past Performance

How has South Port New Zealand performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


5.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SPN has a high level of non-cash earnings.

Growing Profit Margin: SPN's current net profit margins (26.4%) are higher than last year (22.7%).


Past Earnings Growth Analysis

Earnings Trend: SPN's earnings have grown by 5.6% per year over the past 5 years.

Accelerating Growth: SPN's earnings growth over the past year (19.7%) exceeds its 5-year average (5.6% per year).

Earnings vs Industry: SPN earnings growth over the past year (19.7%) exceeded the Infrastructure industry -6.4%.


Return on Equity

High ROE: SPN's Return on Equity (23.2%) is considered high.


Discover strong past performing companies

Financial Health

How is South Port New Zealand's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: SPN's short term assets (NZ$8.5M) exceed its short term liabilities (NZ$7.0M).

Long Term Liabilities: SPN's short term assets (NZ$8.5M) do not cover its long term liabilities (NZ$25.9M).


Debt to Equity History and Analysis

Debt Level: SPN's net debt to equity ratio (43.5%) is considered high.

Reducing Debt: SPN's debt to equity ratio has increased from 26.5% to 46.1% over the past 5 years.

Debt Coverage: SPN's debt is well covered by operating cash flow (53.7%).

Interest Coverage: SPN earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is South Port New Zealand current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


3.28%

Current Dividend Yield

Upcoming Dividend Payment

TodaySep 26 2022Ex Dividend DateOct 26 2022Dividend Pay DateNov 08 202213 days from Ex DividendBuy in the next 30 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: SPN's dividend (3.28%) is higher than the bottom 25% of dividend payers in the NZ market (2.85%).

High Dividend: SPN's dividend (3.28%) is low compared to the top 25% of dividend payers in the NZ market (6.04%).


Stability and Growth of Payments

Stable Dividend: SPN's dividends per share have been stable in the past 10 years.

Growing Dividend: SPN's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (55.2%), SPN's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: SPN is paying a dividend but the company has no free cash flows.


Discover strong dividend paying companies

Management

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

4.9yrs

Average management tenure


CEO

Nigel Gear

4.92yrs

Tenure

Mr. Nigel G. Gear, BCom, DipPort Man, has been Chief Executive Officer of South Port New Zealand Limited since October 1, 2017. Mr. Gear served as a Commercial Manager of South Port New Zealand Limited unt...


Leadership Team

Experienced Management: SPN's management team is considered experienced (4.9 years average tenure).


Board Members

Experienced Board: SPN's board of directors are considered experienced (8.5 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

NZSE:SPN Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
09 May 22BuyNZ$8,971Jeremy McCleanIndividual1,016NZ$8.83
06 May 22BuyNZ$1,581Jeremy McCleanIndividual179NZ$8.83
08 Apr 22BuyNZ$5,192Rex ChapmanIndividual590NZ$8.80
01 Apr 22BuyNZ$7,926Rex ChapmanIndividual900NZ$8.84
28 Mar 22BuyNZ$1,297Jeremy McCleanIndividual150NZ$8.70
18 Mar 22BuyNZ$13,710Jeremy McCleanIndividual1,655NZ$9.41
10 Mar 22BuyNZ$19,574The Sigglesthorne TrustCompany2,317NZ$8.47
28 Feb 22BuyNZ$4,599Rex ChapmanIndividual525NZ$8.76
25 Feb 22BuyNZ$584The Sigglesthorne TrustCompany69NZ$8.47
24 Feb 22BuyNZ$966The Sigglesthorne TrustCompany114NZ$8.47
17 Feb 22BuyNZ$7,756The Sigglesthorne TrustCompany921NZ$8.60
14 Feb 22BuyNZ$850Lara StevensIndividual100.81NZ$8.43

Ownership Breakdown

What is the ownership structure of SPN?
Owner TypeNumber of SharesOwnership Percentage
Institutions436,0101.7%
Private Companies1,373,4215.2%
Individual Insiders2,910,25911.1%
General Public4,073,63515.5%
State or Government17,441,57366.5%

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


Top Shareholders

Top 19 shareholders own 84.47% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
66.48%
Southland Regional Council
17,441,573NZ$143.4m0%no data
8.17%
Kevin Douglas
2,144,663NZ$17.6m0%no data
5.22%
Urquhart Family Trust
1,370,000NZ$11.3m0%no data
1.66%
FCA Corp.
436,010NZ$3.6m-1.95%0.77%
0.67%
Daniel Noonan
175,364NZ$1.4m0%no data
0.35%
Michael Mayger
91,554NZ$752.6k0%no data
0.35%
Eleanor Mayger
91,553NZ$752.6k0%no data
0.31%
Howard Zingel
81,804NZ$672.4k0%no data
0.24%
John O'Brien
62,622NZ$514.8k0%no data
0.21%
Owen Bennett
55,018NZ$452.2k0%no data
0.21%
David Grindell
54,500NZ$448.0k0%no data
0.15%
Kenneth Anderson
38,592NZ$317.2k0%no data
0.15%
Fern Anderson
38,592NZ$317.2k0%no data
0.14%
Pauline Stapel
35,441NZ$291.3k0%no data
0.14%
Stephen McKee
35,440NZ$291.3k0%no data
0.013%
The Sigglesthorne Trust
3,421NZ$28.1k0%no data
0.011%
Jeremy McClean
3,000NZ$24.7k66.2%no data
0.0077%
Rex Chapman
2,015NZ$16.6k283.81%no data
0.00038%
Lara Stevens
101NZ$830.20%no data

Company Information

South Port New Zealand Limited's employee growth, exchange listings and data sources


Key Information

  • Name: South Port New Zealand Limited
  • Ticker: SPN
  • Exchange: NZSE
  • Founded: 1988
  • Industry: Marine Ports and Services
  • Sector: Transportation
  • Implied Market Cap: NZ$215.651m
  • Shares outstanding: 26.23m
  • Website: https://southport.co.nz

Number of Employees


Location

  • South Port New Zealand Limited
  • Island Harbour
  • PO Box 1
  • Bluff
  • 9842
  • New Zealand


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SPNNZSE (New Zealand Stock Exchange)YesOrdinary SharesNZNZDJan 1995

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/26 00:00
End of Day Share Price2022/09/23 00:00
Earnings2022/06/30
Annual Earnings2022/06/30


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.