SGX:D8DU

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First Ship Lease Trust

Executive Summary

First Ship Lease Trust, a business trust, owns a fleet of vessels in various shipping sub-sectors in Asia, Europe, and internationally. More Details


Snowflake Analysis

Flawless balance sheet and fair value.

Share Price & News

How has First Ship Lease Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: D8DU is not significantly more volatile than the rest of SG stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: D8DU's weekly volatility has decreased from 20% to 9% over the past year.


Market Performance


7 Day Return

1.1%

D8DU

-1.9%

SG Shipping

1.2%

SG Market


1 Year Return

30.0%

D8DU

8.9%

SG Shipping

-10.1%

SG Market

Return vs Industry: D8DU exceeded the SG Shipping industry which returned 8.9% over the past year.

Return vs Market: D8DU exceeded the SG Market which returned -10.1% over the past year.


Shareholder returns

D8DUIndustryMarket
7 Day1.1%-1.9%1.2%
30 Day5.8%16.3%5.5%
90 Day23.0%25.2%17.7%
1 Year189.1%30.0%25.3%8.9%-5.3%-10.1%
3 Year115.3%-3.2%16.6%-4.6%-10.8%-21.7%
5 Year49.9%-32.6%-42.0%-49.3%28.4%4.8%

Long-Term Price Volatility Vs. Market

How volatile is First Ship Lease Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is First Ship Lease Trust 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: D8DU (SGD0.09) is trading below our estimate of fair value (SGD1.16)

Significantly Below Fair Value: D8DU is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: D8DU is poor value based on its PE Ratio (10.2x) compared to the SG Shipping industry average (9.3x).

PE vs Market: D8DU is good value based on its PE Ratio (10.2x) compared to the SG market (15x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate D8DU's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: D8DU's PB Ratio (0.8x) is in line with the SG Shipping industry average.


Next Steps

Future Growth

How is First Ship Lease Trust forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

23.4%

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 First Ship Lease Trust 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 First Ship Lease Trust performed over the past 5 years?

2.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: D8DU has a large one-off loss of $7.6M impacting its September 30 2020 financial results.

Growing Profit Margin: D8DU became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: D8DU has become profitable over the past 5 years, growing earnings by 2.3% per year.

Accelerating Growth: D8DU has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: D8DU has become profitable in the last year, making it difficult to compare its past year earnings growth to the Shipping industry (0.2%).


Return on Equity

High ROE: D8DU's Return on Equity (7.5%) is considered low.


Next Steps

Financial Health

How is First Ship Lease Trust's financial position?


Financial Position Analysis

Short Term Liabilities: D8DU's short term assets ($53.7M) exceed its short term liabilities ($19.5M).

Long Term Liabilities: D8DU's short term assets ($53.7M) exceed its long term liabilities ($14.5M).


Debt to Equity History and Analysis

Debt Level: D8DU's debt to equity ratio (20%) is considered satisfactory.

Reducing Debt: D8DU's debt to equity ratio has reduced from 103% to 20% over the past 5 years.

Debt Coverage: D8DU's debt is well covered by operating cash flow (132.9%).

Interest Coverage: D8DU's interest payments on its debt are well covered by EBIT (6.7x coverage).


Balance Sheet


Next Steps

Dividend

What is First Ship Lease Trust current dividend yield, its reliability and sustainability?

87.65%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: D8DU's dividend (87.65%) is higher than the bottom 25% of dividend payers in the SG market (2.17%).

High Dividend: D8DU's dividend (87.65%) is in the top 25% of dividend payers in the SG market (5%)


Stability and Growth of Payments

Stable Dividend: D8DU's dividend payments have been volatile in the past 10 years.

Growing Dividend: D8DU's dividend payments have not increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (445.4%), D8DU's dividend payments are not 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

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

2.8yrs

Average management tenure


CEO

Roger Woods (57 yo)

3.67yrs

Tenure

Mr. Roger Woods has been the Chief Executive Officer of FSL Trust Management Pte. Ltd. the Trustee Manager of First Ship Lease Trust since May 3, 2017 and served as its Acting Chief Executive Officer since...


Leadership Team

NamePositionTenureCompensationOwnership
Roger Woods
Chief Executive Officer of FSL Trust Management Pte Ltd3.67yrsno data0.042%
$ 69.0k
Markus Wenker
Chief Financial Officer of FSL Trust Management Pte. Ltdno datano datano data
Tayalni Nediean
Investor & Public Relations Manager of FSL Trust Management Pte Ltdno datano datano data
Renee Skower
Head of Brand Partnerships2.83yrsno datano data
Grady Edelstein
Head of Partnership Marketing2.83yrsno datano data
Elizabeth Krishnan
Company Secretary of FSL Trust Management Pte Ltdno datano datano data

2.8yrs

Average Tenure

Experienced Management: D8DU's management team is considered experienced (2.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Michael John Oliver
Independent Non-Executive Director of FSL Trust Management Pte Ltd7.58yrsUS$54.65kno data
Michael Grenville Gray
Lead Independent Director of FSL Trust Management Pte Ltd4.17yrsUS$54.65k0.23%
$ 368.0k
Narayanan Sreenivasan
Independent Non-Executive Director of FSL Trust Management Pte Ltd4.33yrsUS$54.65k0.071%
$ 115.0k
Efstathios Topouzoglou
Non-Independent Non-Executive Chairman of FSL Trust Management Pte Ltd2.83yrsno datano data
Michael Chalkias
Non-Independent Non-Executive Director of FSL Trust Management Pte Ltd2.83yrsno datano data
Costas Courcoubetis
Non-Executive Independent Director of FSL Trust Management Pte. Ltd.1.17yrsUS$8.35kno data

3.5yrs

Average Tenure

64yo

Average Age

Experienced Board: D8DU's board of directors are considered experienced (3.5 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.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

First Ship Lease Trust's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: First Ship Lease Trust
  • Ticker: D8DU
  • Exchange: SGX
  • Founded: 2007
  • Industry: Marine
  • Sector: Transportation
  • Market Cap: S$162.661m
  • Shares outstanding: 1.77b
  • Website: https://www.firstshipleasetrust.com

Location

  • First Ship Lease Trust
  • No. 19-03 Suntec Tower Two
  • 9 Temasek Boulevard
  • Singapore
  • 38989
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
D8DUSGX (Singapore Exchange)YesUnitsSGSGDMar 2007
LJ9DB (Deutsche Boerse AG)YesUnitsDEEURMar 2007
FSLU.FOTCPK (Pink Sheets LLC)YesUnitsUSUSDMar 2007

Biography

First Ship Lease Trust, a business trust, owns a fleet of vessels in various shipping sub-sectors in Asia, Europe, and internationally. The company is involved in leasing and chartering vessels on long-ter...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/20 11:16
End of Day Share Price2021/01/20 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.