First Ship Lease Trust
Market Cap
S$162.7m
Last Updated
2021/01/20 11:16 UTC
Data Sources
Company Financials
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
Rewards
Risk Analysis
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
| D8DU | Industry | Market | |
|---|---|---|---|
| 7 Day | 1.1% | -1.9% | 1.2% |
| 30 Day | 5.8% | 16.3% | 5.5% |
| 90 Day | 23.0% | 25.2% | 17.7% |
| 1 Year | 189.1%30.0% | 25.3%8.9% | -5.3%-10.1% |
| 3 Year | 115.3%-3.2% | 16.6%-4.6% | -10.8%-21.7% |
| 5 Year | 49.9%-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
2 days ago | Simply Wall St
First Ship Lease Trust (SGX:D8DU) Has Compensated Shareholders With A 48% Return On Their Investment1 month ago | Simply Wall St
Is There More Growth In Store For First Ship Lease Trust's (SGX:D8DU) Returns On Capital?1 month ago | Simply Wall St
First Ship Lease Trust (SGX:D8DU) Has A Rock Solid Balance SheetValuation
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
- Examine whether First Ship Lease Trust is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
- First Ship Lease Trust competitive advantages and company strategy can generally be found in its financial reports archived here.
- Explore growth companies in the Transportation industry.
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
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chief Executive Officer of FSL Trust Management Pte Ltd | 3.67yrs | no data | 0.042% $ 69.0k | |
| Chief Financial Officer of FSL Trust Management Pte. Ltd | no data | no data | no data | |
| Investor & Public Relations Manager of FSL Trust Management Pte Ltd | no data | no data | no data | |
| Head of Brand Partnerships | 2.83yrs | no data | no data | |
| Head of Partnership Marketing | 2.83yrs | no data | no data | |
| Company Secretary of FSL Trust Management Pte Ltd | no data | no data | no data |
2.8yrs
Average Tenure
Experienced Management: D8DU's management team is considered experienced (2.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Independent Non-Executive Director of FSL Trust Management Pte Ltd | 7.58yrs | US$54.65k | no data | |
| Lead Independent Director of FSL Trust Management Pte Ltd | 4.17yrs | US$54.65k | 0.23% $ 368.0k | |
| Independent Non-Executive Director of FSL Trust Management Pte Ltd | 4.33yrs | US$54.65k | 0.071% $ 115.0k | |
| Non-Independent Non-Executive Chairman of FSL Trust Management Pte Ltd | 2.83yrs | no data | no data | |
| Non-Independent Non-Executive Director of FSL Trust Management Pte Ltd | 2.83yrs | no data | no data | |
| Non-Executive Independent Director of FSL Trust Management Pte. Ltd. | 1.17yrs | US$8.35k | no 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
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| D8DU | SGX (Singapore Exchange) | Yes | Units | SG | SGD | Mar 2007 |
| LJ9 | DB (Deutsche Boerse AG) | Yes | Units | DE | EUR | Mar 2007 |
| FSLU.F | OTCPK (Pink Sheets LLC) | Yes | Units | US | USD | Mar 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
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/20 11:16 |
| End of Day Share Price | 2021/01/20 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
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.