MISX:NMTP

Stock Analysis Report

Novorossiysk Commercial Sea Port

Executive Summary

Public Joint Stock Company Novorossiysk Commercial Sea Port, together with its subsidiaries, provides stevedoring, other port, and sea vessel services in Russia.

Snowflake

Solid track record with adequate balance sheet and pays a dividend.

Rewards

Trading at 15.7% below its fair value

Earnings grew by 108.5% over the past year

Risk Analysis

Earnings are forecast to decline by an average of -20.1% per year for the next 3 years

Has a high level of debt

Unstable dividend track record

Large one-off items impacting financial results


Share Price & News

How has Novorossiysk Commercial Sea Port's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

-0.1%

NMTP

0.2%

RU Infrastructure

-1.2%

RU Market


1 Year Return

17.0%

NMTP

15.3%

RU Infrastructure

21.4%

RU Market

Return vs Industry: NMTP exceeded the Russian Infrastructure industry which returned 15.3% over the past year.

Return vs Market: NMTP underperformed the Russian Market which returned 21.4% over the past year.


Shareholder returns

NMTPIndustryMarket
7 Day-0.1%0.2%-1.2%
30 Day-2.3%0.8%5.3%
90 Day1.1%3.4%11.5%
1 Year30.0%17.0%19.2%15.3%30.2%21.4%
3 Year61.5%21.0%52.2%38.3%65.7%39.9%
5 Year729.0%386.1%71.0%44.1%154.0%99.2%

Price Volatility Vs. Market

How volatile is Novorossiysk Commercial Sea Port's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Novorossiysk Commercial Sea Port undervalued compared to its fair value and its price relative to the market?

15.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: NMTP (RUB8.19) is trading below our estimate of fair value (RUB9.71)

Significantly Below Fair Value: NMTP is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: NMTP is good value based on its PE Ratio (3.1x) compared to the Infrastructure industry average (17.7x).

PE vs Market: NMTP is good value based on its PE Ratio (3.1x) compared to the Russian market (7.4x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: NMTP is overvalued based on its PB Ratio (1.8x) compared to the XE Infrastructure industry average (1.6x).


Next Steps

Future Growth

How is Novorossiysk Commercial Sea Port forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

-20.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: NMTP's earnings are forecast to decline over the next 3 years (-20.1% per year).

Earnings vs Market: NMTP's earnings are forecast to decline over the next 3 years (-20.1% per year).

High Growth Earnings: NMTP's earnings are forecast to decline over the next 3 years.

Revenue vs Market: NMTP's revenue (2.1% per year) is forecast to grow slower than the Russian market (4.3% per year).

High Growth Revenue: NMTP's revenue (2.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: NMTP's Return on Equity is forecast to be high in 3 years time (33%)


Next Steps

Past Performance

How has Novorossiysk Commercial Sea Port performed over the past 5 years?

52.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: NMTP has large one-off items impacting its financial results.

Growing Profit Margin: NMTP's current net profit margins (81.5%) are higher than last year (38.9%).


Past Earnings Growth Analysis

Earnings Trend: NMTP's earnings have grown significantly by 52.9% per year over the past 5 years.

Accelerating Growth: NMTP's earnings growth over the past year (108.5%) exceeds its 5-year average (52.9% per year).

Earnings vs Industry: NMTP earnings growth over the past year (108.5%) exceeded the Infrastructure industry 13.4%.


Return on Equity

High ROE: NMTP's Return on Equity (57.9%) is considered outstanding.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Novorossiysk Commercial Sea Port's financial position?


Financial Position Analysis

Short Term Liabilities: NMTP's short term assets ($780.5M) exceeds its short term liabilities ($408.8M)

Long Term Liabilities: NMTP's short term assets (780.5M) do not cover its long term liabilities (1.2B)


Debt to Equity History and Analysis

Debt Level: NMTP's debt to equity ratio (69.1%) is considered high

Reducing Debt: NMTP's debt to equity ratio has reduced from 162.7% to 69.1% over the past 5 years.

Debt Coverage: NMTP's debt is well covered by operating cash flow (47.8%).

Interest Coverage: NMTP's interest payments on its debt are well covered by EBIT (9x coverage).


Balance Sheet

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

Debt Coverage by Assets: NMTP's debt is not covered by short term assets (assets are 0.9x debt).


Next Steps

Dividend

What is Novorossiysk Commercial Sea Port's current dividend yield, its reliability and sustainability?

14.90%

Current Dividend Yield


Dividend Yield vs Market

company14.9%marketbottom25%3.6%markettop25%8.9%industryaverage4.0%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: NMTP's dividend (14.9%) is higher than the bottom 25% of dividend payers in the Russian market (3.57%).

High Dividend: NMTP's dividend (14.9%) is in the top 25% of dividend payers in the Russian market (8.88%)


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (25%), NMTP's dividend payments are well 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

What is the CEO of Novorossiysk Commercial Sea Port's salary, the management and board of directors tenure and is there insider trading?

1.8yrs

Average management tenure


CEO

Sergey Kireev (59yo)

1.8yrs

Tenure

US$287

Compensation

Mr. Sergey Kireev has been General Director of Public Joint Stock Company Novorossiysk Commercial Sea Port since January 2018 and has been its Chairman since 2018 and serves as its Director. Mr. Kireev s ...


Management Age and Tenure

1.8yrs

Average Tenure

52.5yo

Average Age

Experienced Management: NMTP's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.


Board Age and Tenure

4.4yrs

Average Tenure

52.5yo

Average Age

Experienced Board: NMTP's board of directors are considered experienced (4.4 years average tenure).


Insider Trading

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.


Management Team

  • Igor Sergeev

    Head of Cargo Department

    • Tenure: 0yrs
  • Eduard Borovok (56yo)

    Head of Group Legal Services

    • Tenure: 0yrs
  • Marina Yazeva

    Chief Accountant of Moscow Office

    • Tenure: 11.4yrs
  • Sergey Kireev (59yo)

    Chairman of the Board

    • Tenure: 1.8yrs
    • Compensation: US$286.90
  • Mikhail Stepanko (49yo)

    Human Resources Director

    • Tenure: 0yrs
  • Igor Terentyev (48yo)

    First Deputy General Director & Member of Management Board

    • Tenure: 6.8yrs
  • Alexander Lesnyak

    Executive Director & Member of Management Board

    • Tenure: 1.8yrs
  • Mikhail Savchenkov (60yo)

    Deputy General Director of Security & Member of Management Board

    • Tenure: 1.8yrs
  • Yuriy Sidelnikov (37yo)

    Deputy Director General

    • Tenure: 1.8yrs
  • Roman Fedotov

    Deputy General Director & Member of Management Board

    • Tenure: 1.8yrs

Board Members

  • Rashid Sharipov (51yo)

    Chairman

    • Tenure: 0.3yrs
    • Compensation: US$224.00k
  • Sergey Kireev (59yo)

    Chairman of the Board

    • Tenure: 1.8yrs
    • Compensation: US$286.90
  • Maxim Grishanin (51yo)

    Director

    • Tenure: 7.7yrs
    • Compensation: US$224.00k
  • Yekaterina Vlasova

    Member of Audit Commission

    • Tenure: 4.4yrs
  • Margarita Russkikh

    Member of Audit Commission

    • Tenure: 4.4yrs
  • Tatyana Nesmeyanova

    Member of Audit Commission

    • Tenure: 4.4yrs
  • Sergey Andronov (50yo)

    Director

    • Tenure: 4.3yrs
    • Compensation: US$224.00k
  • Yuriy Tsvetkov (54yo)

    Director

    • Tenure: 0yrs
  • Vyacheslav Skvortsov (61yo)

    Director

    • Tenure: 0yrs
  • Vadim Yakovenko

    Director

    • Tenure: 0yrs

Company Information

Public Joint Stock Company Novorossiysk Commercial Sea Port's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Public Joint Stock Company Novorossiysk Commercial Sea Port
  • Ticker: NMTP
  • Exchange: MISX
  • Founded: 1845
  • Industry: Marine Ports and Services
  • Sector: Transportation
  • Market Cap: ₽151.375b
  • Shares outstanding: 18.48b
  • Website: https://www.nmtp.info

Number of Employees


Location

  • Public Joint Stock Company Novorossiysk Commercial Sea Port
  • Portovaya Street 14
  • Novorossiysk
  • Krasnodarskiy kray
  • 353901
  • Russia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
NMTPMISX (Micex - Rts)YesCommon SharesRURUBJun 1995
NCSPLSE (London Stock Exchange)SPON GDR REG SGBUSDNov 2007
46NABST (Boerse-Stuttgart)SPON GDR REG SDEEURNov 2007

Biography

Public Joint Stock Company Novorossiysk Commercial Sea Port, together with its subsidiaries, provides stevedoring, other port, and sea vessel services in Russia. The company’s stevedoring services include  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/16 21:19
End of Day Share Price2019/11/15 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.