NZSE:SPN

Stock Analysis Report

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Executive Summary

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

Rewards

PE ratio (19.3x) is below the NZ market (22.6x)

Pays a reliable dividend of 3.76%

Risk Analysis

No risks detected for SPN from our risk checks.


Snowflake Analysis

Flawless balance sheet average dividend payer.

Share Price & News

How has South Port New Zealand's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

8.8%

SPN

1.2%

NZ Infrastructure

0.7%

NZ Market


1 Year Return

-10.1%

SPN

-13.7%

NZ Infrastructure

2.2%

NZ Market

Return vs Industry: SPN exceeded the NZ Infrastructure industry which returned -13.7% over the past year.

Return vs Market: SPN underperformed the NZ Market which returned 2.2% over the past year.


Shareholder returns

SPNIndustryMarket
7 Day8.8%1.2%0.7%
30 Day9.8%2.4%-2.7%
90 Day-0.4%4.2%4.4%
1 Year-6.3%-10.1%-12.3%-13.7%6.4%2.2%
3 Year34.2%17.3%38.5%22.5%41.9%22.7%
5 Year88.0%46.6%87.0%52.4%101.9%51.9%

Price Volatility Vs. Market

How volatile is South Port New Zealand's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is South Port New Zealand undervalued compared to its fair value and its price relative to the market?

19.25x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: SPN (NZ$6.92) is trading above our estimate of fair value (NZ$5.3)

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


Price To Earnings Ratio

PE vs Industry: SPN is good value based on its PE Ratio (19.3x) compared to the NZ Infrastructure industry average (46.5x).

PE vs Market: SPN is good value based on its PE Ratio (19.3x) compared to the NZ market (22.6x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: SPN is overvalued based on its PB Ratio (4x) compared to the NZ Infrastructure industry average (2.2x).


Next Steps

Future Growth

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

45.0%

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.


Next Steps

Past Performance

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

3.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SPN has high quality earnings.

Growing Profit Margin: SPN's current net profit margins (21.2%) are lower than last year (22.3%).


Past Earnings Growth Analysis

Earnings Trend: SPN's earnings have grown by 3.4% per year over the past 5 years.

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

Earnings vs Industry: SPN had negative earnings growth (-3.6%) over the past year, making it difficult to compare to the Infrastructure industry average (-13.8%).


Return on Equity

High ROE: SPN's Return on Equity (20.7%) is considered high.


Next Steps

Financial Health

How is South Port New Zealand's financial position?


Financial Position Analysis

Short Term Liabilities: SPN's short term assets (NZ$7.7M) exceed its short term liabilities (NZ$7.7M).

Long Term Liabilities: SPN's short term assets (NZ$7.7M) exceed its long term liabilities (NZ$6.1M).


Debt to Equity History and Analysis

Debt Level: SPN's debt to equity ratio (15.9%) is considered satisfactory.

Reducing Debt: SPN's debt to equity ratio has reduced from 25.5% to 15.9% over the past 5 years.

Debt Coverage: SPN's debt is well covered by operating cash flow (173.9%).

Interest Coverage: SPN's interest payments on its debt are well covered by EBIT (24.9x coverage).


Balance Sheet


Next Steps

Dividend

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

3.76%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: SPN's dividend (3.76%) is higher than the bottom 25% of dividend payers in the NZ market (2.85%).

High Dividend: SPN's dividend (3.76%) is low compared to the top 25% of dividend payers in the NZ market (4.6%).


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.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (72.3%), SPN's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

2.8yrs

Average management tenure


CEO

Nigel Gear

2.92yrs

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

NamePositionTenureCompensationOwnership
Nigel Gear
Chief Executive Officer2.92yrsno datano data
Lara Stevens
Finance Managerno datano datano data
Gareth Carson
Health, Safety & Compliance Officerno datano datano data
Helen Young
Human Resources Manager2.83yrsno datano data
Geoffrey Finnerty
Port General Manager2.83yrsno datano data

2.8yrs

Average Tenure

Experienced Management: SPN's management team is considered experienced (2.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Thomas Foggo
Independent Non-Executive Director16.92yrsNZ$41.20kno data
Rex Chapman
Independent Non-Executive Chairmanno dataNZ$72.10kno data
Philip Cory-Wright
Independent Non-Executive Director10yrsNZ$41.20kno data
Jeremy McClean
Independent Non-Executive Director9yrsNZ$41.20kno data
Nicola Greer
Independent Director0.83yrNZ$27.47kno data
Clare Kearney
Independent Non-Executive Director3.92yrsNZ$41.20kno data

9.0yrs

Average Tenure

Experienced Board: SPN's board of directors are considered experienced (9 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.


Ownership Breakdown

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


Top Shareholders

Company Information

South Port New Zealand Limited's company bio, 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
  • Market Cap: NZ$181.545m
  • Shares outstanding: 26.23m
  • Website: https://www.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

Biography

South Port New Zealand Limited provides and manages port and warehousing services in New Zealand. It operates the Port of Bluff in the province of Southland. The company offers pilotage, towage, berthage, ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/28 10:35
End of Day Share Price2020/09/28 00:00
Earnings2020/06/30
Annual Earnings2020/06/30


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.