SGX:AZY

Stock Analysis Report

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Executive Summary

Pan Ocean Co., Ltd., together with its subsidiaries, provides marine transportation and other related services worldwide. More Details


Snowflake Analysis

Acceptable track record with mediocre balance sheet.

Share Price & News

How has Pan Ocean's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

0%

AZY

-4.8%

SG Shipping

-0.09%

SG Market


1 Year Return

-24.6%

AZY

3.7%

SG Shipping

-21.9%

SG Market

Return vs Industry: AZY underperformed the SG Shipping industry which returned 3.7% over the past year.

Return vs Market: AZY underperformed the SG Market which returned -21.9% over the past year.


Shareholder returns

AZYIndustryMarket
7 Day0%-4.8%-0.09%
30 Dayn/a-7.7%1.8%
90 Dayn/a-6.0%-1.8%
1 Year-24.6%-24.6%13.7%3.7%-17.6%-21.9%
3 Year-40.6%-40.6%-5.7%-20.3%-20.1%-29.8%
5 Year-19.9%-19.9%-63.1%-67.4%-5.0%-22.3%

Price Volatility Vs. Market

How volatile is Pan Ocean's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Pan Ocean undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: AZY (SGD3.99) is trading below our estimate of fair value (SGD8.15)

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


Price To Earnings Ratio

PE vs Industry: AZY is poor value based on its PE Ratio (14.5x) compared to the SG Shipping industry average (7.3x).

PE vs Market: AZY is poor value based on its PE Ratio (14.5x) compared to the SG market (13.2x).


Price to Earnings Growth Ratio

PEG Ratio: AZY is poor value based on its PEG Ratio (1x)


Price to Book Ratio

PB vs Industry: AZY is overvalued based on its PB Ratio (0.7x) compared to the SG Shipping industry average (0.6x).


Next Steps

Future Growth

How is Pan Ocean forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?

14.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AZY's forecast earnings growth (14.5% per year) is above the savings rate (2.2%).

Earnings vs Market: AZY's earnings (14.5% per year) are forecast to grow slower than the SG market (22.1% per year).

High Growth Earnings: AZY's earnings are forecast to grow, but not significantly.

Revenue vs Market: AZY's revenue (9.7% per year) is forecast to grow faster than the SG market (6.7% per year).

High Growth Revenue: AZY's revenue (9.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: AZY's Return on Equity is forecast to be low in 3 years time (6.1%).


Next Steps

Past Performance

How has Pan Ocean performed over the past 5 years?

-2.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AZY has high quality earnings.

Growing Profit Margin: AZY's current net profit margins (5.8%) are higher than last year (5.6%).


Past Earnings Growth Analysis

Earnings Trend: AZY has become profitable over the past 5 years, growing earnings by -2.4% per year.

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

Earnings vs Industry: AZY had negative earnings growth (-3.6%) over the past year, making it difficult to compare to the Shipping industry average (-10.6%).


Return on Equity

High ROE: AZY's Return on Equity (4.8%) is considered low.


Next Steps

Financial Health

How is Pan Ocean's financial position?


Financial Position Analysis

Short Term Liabilities: AZY's short term assets ($591.9M) exceed its short term liabilities ($571.9M).

Long Term Liabilities: AZY's short term assets ($591.9M) do not cover its long term liabilities ($881.8M).


Debt to Equity History and Analysis

Debt Level: AZY's debt to equity ratio (44.9%) is considered high.

Reducing Debt: AZY's debt to equity ratio has increased from 16.5% to 44.9% over the past 5 years.

Debt Coverage: AZY's debt is well covered by operating cash flow (34.6%).

Interest Coverage: AZY's interest payments on its debt are well covered by EBIT (5.2x coverage).


Balance Sheet


Next Steps

Dividend

What is Pan Ocean current dividend yield, its reliability and sustainability?

1.00%

Forecast Dividend Yield


Dividend Yield vs Market

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

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


Stability and Growth of Payments

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

Growing Dividend: Insufficient data to determine if AZY's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: AZY is not paying a notable dividend for the SG market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of AZY's dividend in 3 years as they are not forecast to pay a notable one for the SG market.


Next Steps

Management

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

2.6yrs

Average board tenure


CEO

Hong-Kuk Kim (63 yo)

5.25yrs

Tenure

Mr. Hong Kuk Kim serves as the Chairman and Chief Executive Officer of Halim & Co., Ltd. Mr. Kim serves as the Chief Executive Officer of SunJin Holdings Co.,Ltd. and Harim Holdings Co.,Ltd. He serves as C ...


Board Members

NamePositionTenureCompensationOwnership
Hong-Kuk Kim
Chairman & CEO5.25yrsno data0.00040%
$ 9.6k
Joong Ho Ahn
CEO & Director0.58yrno data0.00096%
$ 23.1k
Gi Se
Head of Ethical Management Department & Executive Directorno datano data0.00044%
$ 10.6k
Seung Choi
Independent Director5.25yrsno datano data
Christopher Daniel
Independent Director5.83yrsno datano data
Keum Oh
Independent Director2.58yrsno data0.0014%
$ 34.6k
Kwang Oh
Independent Director1.58yrsno datano data

2.6yrs

Average Tenure

57.5yo

Average Age

Experienced Board: AZY's board of directors are not considered experienced ( 2.6 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

Pan Ocean Co., Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Pan Ocean Co., Ltd.
  • Ticker: AZY
  • Exchange: SGX
  • Founded: 1966
  • Industry: Marine
  • Sector: Transportation
  • Market Cap: ₩1.999t
  • Listing Market Cap: ₩2.404b
  • Shares outstanding: 534.57m
  • Website: https://www.panocean.com

Location

  • Pan Ocean Co., Ltd.
  • Tower 8
  • 7, Jong-ro 5-gil
  • Seoul
  • 3157
  • South Korea

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AZYSGX (Singapore Exchange)YesOrdinary SharesSGSGDJul 2005
A028670KOSE (Korea Stock Exchange)YesOrdinary SharesKRKRWJul 2005

Biography

Pan Ocean Co., Ltd., together with its subsidiaries, provides marine transportation and other related services worldwide. It operates through four segments: Bulk Carrier Service, Container Service, Tanker ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/26 12:46
End of Day Share Price2020/10/05 00:00
Earnings2020/06/30
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.