Singapore Shipping Valuation

Is S19 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of S19 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: S19 (SGD0.25) is trading below our estimate of fair value (SGD1.43)

Significantly Below Fair Value: S19 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for S19?

Key metric: As S19 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for S19. This is calculated by dividing S19's market cap by their current earnings.
What is S19's PE Ratio?
PE Ratio	5.9x
Earnings	US$12.35m
Market Cap	US$73.04m

S19 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	0.6x
Enterprise Value/EBITDA	1.9x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does S19's PE Ratio compare to its peers?

The above table shows the PE ratio for S19 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	10.8x
D8DU First Ship Lease Trust	17.5x	n/a	S$76.0m
S56 Samudera Shipping Line	6x	n/a	S$449.3m
5LY Marco Polo Marine	6.8x	3.9%	S$198.9m
595 GKE	12.9x	n/a	S$55.5m
S19 Singapore Shipping	5.9x	n/a	S$98.1m

Price-To-Earnings vs Peers: S19 is good value based on its Price-To-Earnings Ratio (5.9x) compared to the peer average (10.8x).

Price to Earnings Ratio vs Industry

How does S19's PE Ratio compare vs other companies in the Asian Shipping Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap

0 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: S19 is good value based on its Price-To-Earnings Ratio (5.9x) compared to the Asian Shipping industry average (9.7x).

Price to Earnings Ratio vs Fair Ratio

What is S19's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

S19 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	5.9x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate S19's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.