MISX:FESH

Stock Analysis Report

Executive Summary

Far-Eastern Shipping Company PLC. operates as a transportation and logistic company in Russia and internationally.


Snowflake Analysis

Good value with poor track record.

Share Price & News

How has Far-Eastern Shipping's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: FESH's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

19.5%

FESH

-0.3%

RU Shipping

7.6%

RU Market


1 Year Return

-4.1%

FESH

-8.5%

RU Shipping

0.1%

RU Market

Return vs Industry: FESH underperformed the Russian Shipping industry which returned -2.9% over the past year.

Return vs Market: FESH underperformed the Russian Market which returned -3.7% over the past year.


Shareholder returns

FESHIndustryMarket
7 Day19.5%-0.3%7.6%
30 Day-6.9%-13.8%-9.6%
90 Day-24.1%-28.5%-17.4%
1 Year-4.1%-4.1%-5.5%-8.5%7.0%0.1%
3 Year111.2%111.2%-13.4%-24.9%41.7%19.5%
5 Year125.4%125.4%-29.1%-43.3%101.8%57.8%

Price Volatility Vs. Market

How volatile is Far-Eastern Shipping's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Far-Eastern Shipping undervalued compared to its fair value and its price relative to the market?

36.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FESH (RUB5.97) is trading below our estimate of fair value (RUB9.78)

Significantly Below Fair Value: FESH is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: FESH is good value based on its PE Ratio (6.7x) compared to the Shipping industry average (14.7x).

PE vs Market: FESH is good value based on its PE Ratio (6.7x) compared to the Russian market (7.5x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: FESH is overvalued based on its PB Ratio (5x) compared to the XE Shipping industry average (0.6x).


Next Steps

Future Growth

How is Far-Eastern Shipping forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

22.8%

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 Far-Eastern Shipping 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 Far-Eastern Shipping performed over the past 5 years?

51.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FESH has a large one-off gain of RUB1.4B impacting its June 30 2019 financial results.

Growing Profit Margin: FESH's current net profit margins (4.6%) are lower than last year (32.5%).


Past Earnings Growth Analysis

Earnings Trend: FESH has become profitable over the past 5 years, growing earnings by 51.3% per year.

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

Earnings vs Industry: FESH had negative earnings growth (-84.1%) over the past year, making it difficult to compare to the Shipping industry average (-26.5%).


Return on Equity

High ROE: Whilst FESH's Return on Equity (55.36%) is outstanding, this metric is skewed due to their high level of debt.


Next Steps

Financial Health

How is Far-Eastern Shipping's financial position?


Financial Position Analysis

Short Term Liabilities: FESH's short term assets (RUB13.3B) do not cover its short term liabilities (RUB15.5B).

Long Term Liabilities: FESH's short term assets (RUB13.3B) do not cover its long term liabilities (RUB41.1B).


Debt to Equity History and Analysis

Debt Level: FESH's debt to equity ratio (637.9%) is considered high.

Reducing Debt: FESH's debt to equity ratio has increased from 218.9% to 637.9% over the past 5 years.


Balance Sheet

Inventory Level: FESH has a high level of physical assets or inventory.

Debt Coverage by Assets: FESH's debt is not covered by short term assets (assets are 0.4x debt).


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: FESH is profitable, therefore cash runway is not a concern.

Forecast Cash Runway: Insufficient data to determine if FESH has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

What is Far-Eastern Shipping's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

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

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


Stability and Growth of Payments

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

Growing Dividend: Insufficient data to determine if FESH'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 FESH's dividend in 3 years as they are not forecast to pay a notable one for the Russian market.


Next Steps

Management

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

1.1yrs

Average management tenure


CEO

Maxim Sakharov (37yo)

0.083

Tenure

Mr. Maxim Sakharov has been Chairman of the Executive Board and President at Far-Eastern Shipping Company PLC since March 2020. He served as the Vice President for Finance and Chief Financial Officer at Fa ...


Leadership Team

NamePositionTenureCompensationOwnership
Maxim Sakharov
Chairman of the Executive Board & President0.083yrno datano data
Leonid Zvyagintsev
Vice President of Finance0.083yrno datano data
Zairbek Yusupov
VP of Port Division & Member of the Executive Boardno datano datano data
Konstantin Kolesnikov
Member of the Executive Board & VP of Human Resources2yrsno datano data
Usakhov Aidemir
Member of the Executive Board & VP of Rail Division2yrsno datano data
Konstantin Teterin
Member of the Executive Board and VP Liner & Logistics Division2yrsno datano data
Grishkovets Ekaterina
Member of the Executive Board & VP of External Relations1.33yrsno datano data
Plotnikov Yury
VP for Security & Member of the Executive Board0.83yrno datano data
Ilya Rodionov
VP of Legal & Corporate and Member of the Management Board0.25yrno datano data
Dmitriy Ivanov
Head of Investor Relationsno datano datano data

1.1yrs

Average Tenure

Experienced Management: FESH's management team is not considered experienced ( 1.1 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Konstantin Kurlanov
Director1.92yrsno datano data
Dmitry Shvets
Director7.08yrsno datano data
Igor Trantin
Member of Audit Commissionno datano datano data
Natalia Izosimova
Director2.33yrsno datano data
Konstantin Kuzovkov
Deputy Chairman of the Board of Directors2.25yrsno datano data
Mammad Leyla
Chairman of the Board2.25yrsno datano data
Belyakov Oleg
Member of Audit Comissionno datano datano data
Garber Mark
Director2.33yrsno datano data
Denis Mandal
Director1.92yrsno datano data
Gadzhiev Shagav
Director1.83yrsno datano data

2.3yrs

Average Tenure

Experienced Board: FESH's board of directors are not considered experienced ( 2.3 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.


Ownership Breakdown

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


Top Shareholders

Company Information

Far-Eastern Shipping Company PLC.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Far-Eastern Shipping Company PLC.
  • Ticker: FESH
  • Exchange: MISX
  • Founded: 1880
  • Industry: Marine
  • Sector: Transportation
  • Market Cap: ₽19.891b
  • Shares outstanding: 2.95b
  • Website: https://www.fesco.ru

Location

  • Far-Eastern Shipping Company PLC.
  • 75, Sadovnicheskaya street
  • Moscow
  • 115035
  • Russia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FESHMISX (Micex - Rts)YesCommon SharesRURUBSep 1995

Biography

Far-Eastern Shipping Company PLC. operates as a transportation and logistic company in Russia and internationally. The company’s products and services include container transportation, port and terminal, Ro-Ro transportation, sea freight shipping, rail transportation, ship agency, and container tracking services, as well as project logistics and logistics solutions. It operates a fleet of 21 vessels. Far-Eastern Shipping Company PLC. was founded in 1880 and is headquartered in Moscow, Russia. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/03 22:26
End of Day Share Price2020/04/03 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.