PSE:ICT

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

International Container Terminal Services

Executive Summary

International Container Terminal Services, Inc., together with its subsidiaries, acquires, develops, manages, and operates container ports and terminals serving the shipping industry. More Details


Snowflake Analysis

Reasonable growth potential second-rate dividend payer.


Similar Companies

Share Price & News

How has International Container Terminal Services's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: ICT is less volatile than 75% of PH stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: ICT's weekly volatility (4%) has been stable over the past year.


Market Performance


7 Day Return

-1.6%

ICT

0.3%

PH Infrastructure

3.3%

PH Market


1 Year Return

2.1%

ICT

-6.7%

PH Infrastructure

-8.4%

PH Market

Return vs Industry: ICT exceeded the PH Infrastructure industry which returned -6.7% over the past year.

Return vs Market: ICT exceeded the PH Market which returned -8.4% over the past year.


Shareholder returns

ICTIndustryMarket
7 Day-1.6%0.3%3.3%
30 Day8.3%11.2%10.1%
90 Day20.0%6.1%19.9%
1 Year6.9%2.1%-3.8%-6.7%-6.5%-8.4%
3 Year33.6%19.0%-7.1%-15.3%-6.7%-12.2%
5 Year96.8%68.0%8.9%-6.3%16.5%4.9%

Long-Term Price Volatility Vs. Market

How volatile is International Container Terminal Services's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is International Container Terminal Services undervalued compared to its fair value and its price relative to the market?

131.36x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: ICT (PHP126) is trading above our estimate of fair value (PHP83.78)

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


Price To Earnings Ratio

PE vs Industry: ICT is poor value based on its PE Ratio (131.4x) compared to the XA Infrastructure industry average (17x).

PE vs Market: ICT is poor value based on its PE Ratio (131.4x) compared to the PH market (14.2x).


Price to Earnings Growth Ratio

PEG Ratio: ICT is poor value based on its PEG Ratio (4x)


Price to Book Ratio

PB vs Industry: ICT is overvalued based on its PB Ratio (3.1x) compared to the XA Infrastructure industry average (0.9x).


Next Steps

Future Growth

How is International Container Terminal Services forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

32.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ICT's forecast earnings growth (32.9% per year) is above the savings rate (5.1%).

Earnings vs Market: ICT's earnings (32.9% per year) are forecast to grow faster than the PH market (31.1% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: ICT's revenue (7% per year) is forecast to grow slower than the PH market (13.3% per year).

High Growth Revenue: ICT's revenue (7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ICT's Return on Equity is forecast to be very high in 3 years time (42.4%).


Next Steps

Past Performance

How has International Container Terminal Services performed over the past 5 years?

4.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ICT has a large one-off loss of $166.2M impacting its September 30 2020 financial results.

Growing Profit Margin: ICT's current net profit margins (2.7%) are lower than last year (12.5%).


Past Earnings Growth Analysis

Earnings Trend: ICT's earnings have grown by 4% per year over the past 5 years.

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

Earnings vs Industry: ICT had negative earnings growth (-78.6%) over the past year, making it difficult to compare to the Infrastructure industry average (-14.9%).


Return on Equity

High ROE: ICT's Return on Equity (7.6%) is considered low.


Next Steps

Financial Health

How is International Container Terminal Services's financial position?


Financial Position Analysis

Short Term Liabilities: ICT's short term assets ($800.5M) exceed its short term liabilities ($445.1M).

Long Term Liabilities: ICT's short term assets ($800.5M) do not cover its long term liabilities ($3.7B).


Debt to Equity History and Analysis

Debt Level: ICT's debt to equity ratio (97.7%) is considered high.

Reducing Debt: ICT's debt to equity ratio has increased from 54.8% to 97.7% over the past 5 years.

Debt Coverage: ICT's debt is well covered by operating cash flow (43.8%).

Interest Coverage: ICT's interest payments on its debt are not well covered by EBIT (2.6x coverage).


Balance Sheet


Next Steps

Dividend

What is International Container Terminal Services's current dividend yield, its reliability and sustainability?

2.68%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: ICT's dividend (2.68%) is higher than the bottom 25% of dividend payers in the PH market (1.25%).

High Dividend: ICT's dividend (2.68%) is low compared to the top 25% of dividend payers in the PH market (4.28%).


Stability and Growth of Payments

Stable Dividend: ICT's dividend payments have been volatile in the past 10 years.

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


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (351.7%), ICT's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ICT's dividends in 3 years are forecast to be covered by earnings (56.2% payout ratio).


Next Steps

Management

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

4.8yrs

Average management tenure


CEO

Enrique Razon (60 yo)

no data

Tenure

Mr. Enrique K. Razon, Jr., serves as the Executive Chairman and Chief Executive Officer of Bloomberry Resorts Corporation. Mr. Razon serves as the Chief Executive Officer and President of International Con...


Leadership Team

NamePositionTenureCompensationOwnership
Enrique Razon
Chairmanno datano data26.86%
$ 65.5b
Rafael De La Consing
Senior VP5.08yrsno data0%
$ 0
Brian Hibbert
VP & Chief Information Officer2.08yrsno datano data
Vivien Miñana
VP & Senior Administration Officer14.42yrsno datano data
Arthur Quintin Tabuena
Treasury Director & Head of Investor Relationsno datano datano data
Michael Cruickshanks
VP & Head of Global Corporate Human Resources3yrsno datano data
Christian Martin Gonzalez
Executive VP & Global Corporate Head12.58yrsno data0.0094%
$ 23.0m
Krzysztof Szymborski
CEO of Baltic Container Terminal and GM - Baltic Container Terminal11.75yrsno datano data
Hans-Ole Madsen
Senior VP and Regional Head of Europeno datano datano data
Humberto Wieske
Senior VP & Head of Global Commercial4.75yrsno datano data
Anders Kjeldsen
Senior VP & Regional Head of Latin Americas3.75yrsno datano data
Caroline Causon
VP and Head of Financial Management & Budgeting2.58yrsno data0.00087%
$ 2.1m

4.8yrs

Average Tenure

53yo

Average Age

Experienced Management: ICT's management team is considered experienced (4.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Enrique Razon
Chairmanno datano data26.86%
$ 65.5b
Octavio Victor Espiritu
Independent Director18.58yrsno data0.015%
$ 36.5m
Andres Soriano
Non-Executive Director28.33yrsno data0.032%
$ 79.2m
Jose Ibazeta
Non-Executive Director32.92yrsno data0.12%
$ 296.6m
Cesar Buenaventura
Independent Director1.75yrsno data0.00050%
$ 1.2m
Stephen George Paradies
Non-Executive Director32.92yrsno data0.22%
$ 529.4m
Joseph Higdon
Independent Director13.58yrsno data0.0078%
$ 19.0m

25.8yrs

Average Tenure

76yo

Average Age

Experienced Board: ICT's board of directors are seasoned and experienced ( 25.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: ICT insiders have only sold shares 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

International Container Terminal Services, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: International Container Terminal Services, Inc.
  • Ticker: ICT
  • Exchange: PSE
  • Founded: 1987
  • Industry: Marine Ports and Services
  • Sector: Transportation
  • Market Cap: ₱243.937b
  • Shares outstanding: 2.00b
  • Website: https://www.ictsi.com

Number of Employees


Location

  • International Container Terminal Services, Inc.
  • ICTSI Administration Building
  • Manila International Container Terminal
  • Manila
  • 1012
  • Philippines

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ICTPSE (Philippines Stock Exchange)YesCommon StockPHPHPSep 1992
ICTE.FOTCPK (Pink Sheets LLC)YesCommon StockUSUSDSep 1992

Biography

International Container Terminal Services, Inc., together with its subsidiaries, acquires, develops, manages, and operates container ports and terminals serving the shipping industry. The company also hand...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/11/25 14:36
End of Day Share Price2020/11/24 00:00
Earnings2020/09/30
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.