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GASS

StealthGas NasdaqGS:GASS Stock Report

Last Price

US$2.56

Market Cap

US$97.8m

7D

2.4%

1Y

-6.6%

Updated

30 Sep, 2022

Data

Company Financials +
GASS fundamental analysis
Snowflake Score
Valuation5/6
Future Growth3/6
Past Performance0/6
Financial Health4/6
Dividends0/6

GASS Stock Overview

StealthGas Inc., together with its subsidiaries, provides seaborne transportation services to liquefied petroleum gas (LPG) producers and users internationally.

StealthGas Competitors

Price History & Performance

Summary of all time highs, changes and price drops for StealthGas
Historical stock prices
Current Share PriceUS$2.56
52 Week HighUS$4.18
52 Week LowUS$1.91
Beta0.75
1 Month Change-20.25%
3 Month Change-17.42%
1 Year Change-6.57%
3 Year Change-13.81%
5 Year Change-26.44%
Change since IPO-81.45%

Recent News & Updates

Sep 27

StealthGas: Poised To Make Strong Gains Only If Market Conditions Cooperate

Summary StealthGas announces a very strong set of Q2 numbers. Although management will continue to try to book fixed charters, the market will be looking beyond this. The China & Ukraine situations remain big wildcards when trying to ascertain LPG demand going forward. Intro We wrote about StealthGas Inc. (GASS) post the company's first-quarter earnings in June of this year where we witnessed a meaningful increase in the company's earnings. Unfortunately, shares were not able to push on post the announcement and presently find themselves roughly 30% down since the first quarter earnings print. StealthGas Inc. is a classic value play where investors need to continue to remain ultra patient to have the opportunity to realize some meaningful gains with this play. Just look at the technical chart. Shares for the most part have been trading in a narrow enough range for more than two years now. Furthermore, the stock's latest down move means StealthGas' 50 week moving average (200-day moving average) is currently being tested. Suffice it to say, if this key support level is breached here shortly, shares could easily revert to their 2022 lows of under $2 a share. Caution. StealthGas Technical Chart (Stockcharts.com) Q2 Tailwinds Bulls may believe that the chances of this happening are remote especially given the strong earnings results once more in the company's second quarter. The bullish fundamentals we witnessed in the charter market continued into the second quarter and voyage revenues based on a lower running fleet rose by $3 million sequentially in Q2. Furthermore, it is now becoming obvious on the income statement (see below) due to being a core LPG play how costs are changing for the better. The reason being is that net income came in at $12.2 million which was an excellent result compared to past quarters. Although the upcoming third quarter is seasonally weaker ($0.15 per share GAAP Estimate), bottom line earnings are still expected to grow by well over 100% this year. This trend obviously will have ramifications with respect to strengthening the balance sheet, generating cash flow, and potentially growing the company faster than in previous times. In fact, given the company's bullish trends in Q2, value investors may be tempted to get long at this juncture due to how cheap StealthGas' shares presently are. Shares now trade with a forward GAAP multiple of 3.95, a forward sales multiple of 0.7, an ultra-low book multiple of 0.2, and a trailing cash flow multiple of 1.98. Furthermore, StealthGas' trailing operating margins come in close to the 20% mark (28% higher than the historic average) which again demonstrates how profitability continues to improve in the company. StealthGas Income Statement Post Q2 Earnings (Seeking Alpha) Forward-Looking Risks We live though in extraordinary times which is why we will continue to take our read off the company's share-price action on the technical chart (since this is a summation of the shipper's known fundamentals). The reason for our caution is self-explanatory. StealthGas operates in a very open industry where any one of multiple external factors could easily derail operations quite significantly.

Aug 23

StealthGas Q2 2022 Earnings Preview

StealthGas (NASDAQ:GASS) is scheduled to announce Q2 earnings results on Wednesday, August 24th, before market open. The consensus EPS Estimate is $0.18 (+38.5% Y/Y) and the consensus Revenue Estimate is $36.2M (-7.7% Y/Y). Over the last 2 years, GASS has beaten EPS estimates 75% of the time and has beaten revenue estimates 100% of the time.

Aug 01
StealthGas (NASDAQ:GASS) Use Of Debt Could Be Considered Risky

StealthGas (NASDAQ:GASS) Use Of Debt Could Be Considered Risky

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

Shareholder Returns

GASSUS Oil and GasUS Market
7D2.4%2.2%-2.5%
1Y-6.6%32.0%-23.2%

Return vs Industry: GASS underperformed the US Oil and Gas industry which returned 36.6% over the past year.

Return vs Market: GASS exceeded the US Market which returned -21.5% over the past year.

Price Volatility

Is GASS's price volatile compared to industry and market?
GASS volatility
GASS Average Weekly Movement10.0%
Oil and Gas Industry Average Movement8.1%
Market Average Movement6.9%
10% most volatile stocks in US Market15.6%
10% least volatile stocks in US Market2.8%

Stable Share Price: GASS is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 10% a week.

Volatility Over Time: GASS's weekly volatility (10%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2004n/aHarry Vafiashttps://www.stealthgas.com

StealthGas Inc., together with its subsidiaries, provides seaborne transportation services to liquefied petroleum gas (LPG) producers and users internationally. It also provides crude oil and natural gas. The company’s carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene, and vinyl chloride monomer; and refined petroleum products, such as gasoline, diesel, fuel oil, and jet fuel, as well as edible oils and chemicals.

StealthGas Fundamentals Summary

How do StealthGas's earnings and revenue compare to its market cap?
GASS fundamental statistics
Market CapUS$97.80m
Earnings (TTM)-US$17.69m
Revenue (TTM)US$148.69m

0.7x

P/S Ratio

-5.5x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
GASS income statement (TTM)
RevenueUS$148.69m
Cost of RevenueUS$78.23m
Gross ProfitUS$70.45m
Other ExpensesUS$88.14m
Earnings-US$17.69m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-0.46
Gross Margin47.38%
Net Profit Margin-11.90%
Debt/Equity Ratio59.5%

How did GASS perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

GASS 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/Revenue2.1x
Enterprise Value/EBITDA5.2x
PEG Ration/a

Price to Sales Ratio vs Peers

How does GASS's PS Ratio compare to its peers?

GASS PS Ratio vs Peers
The above table shows the PS ratio for GASS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average0.9x
DLNG Dynagas LNG Partners
0.8x-0.3%US$106.1m
MMLP Martin Midstream Partners
0.1xn/aUS$132.1m
USDP USD Partners
2.4x45.8%US$134.2m
SMLP Summit Midstream Partners
0.4x-23.6%US$152.7m
GASS StealthGas
0.7x1.5%US$97.8m

Price-To-Sales vs Peers: GASS is good value based on its Price-To-Sales Ratio (0.7x) compared to the peer average (0.9x).


Price to Earnings Ratio vs Industry

How does GASS's PE Ratio compare vs other companies in the US Oil and Gas Industry?

Price-To-Sales vs Industry: GASS is good value based on its Price-To-Sales Ratio (0.7x) compared to the US Oil and Gas industry average (1.5x)


Price to Sales Ratio vs Fair Ratio

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

GASS PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.7x
Fair PS Ratio1x

Price-To-Sales vs Fair Ratio: GASS is good value based on its Price-To-Sales Ratio (0.7x) compared to the estimated Fair Price-To-Sales Ratio (1x).


Share Price vs Fair Value

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

Below Fair Value: GASS ($2.56) is trading below our estimate of fair value ($4.33)

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


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.


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Future Growth

How is StealthGas forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


56.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: GASS is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.9%).

Earnings vs Market: GASS is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: GASS is expected to become profitable in the next 3 years.

Revenue vs Market: GASS's revenue (1.5% per year) is forecast to grow slower than the US market (7.6% per year).

High Growth Revenue: GASS's revenue (1.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: GASS's Return on Equity is forecast to be low in 3 years time (6.2%).


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Past Performance

How has StealthGas performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-9.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: GASS is currently unprofitable.

Growing Profit Margin: GASS is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: GASS is unprofitable, and losses have increased over the past 5 years at a rate of 9% per year.

Accelerating Growth: Unable to compare GASS's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: GASS is unprofitable, making it difficult to compare its past year earnings growth to the Oil and Gas industry (184.6%).


Return on Equity

High ROE: GASS has a negative Return on Equity (-3.57%), as it is currently unprofitable.


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Financial Health

How is StealthGas's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: GASS's short term assets ($89.7M) exceed its short term liabilities ($51.7M).

Long Term Liabilities: GASS's short term assets ($89.7M) do not cover its long term liabilities ($264.9M).


Debt to Equity History and Analysis

Debt Level: GASS's net debt to equity ratio (43.8%) is considered high.

Reducing Debt: GASS's debt to equity ratio has reduced from 71.1% to 59.5% over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable GASS has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: GASS is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 44.6% per year.


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Dividend

What is StealthGas's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

StealthGas Dividend Yield vs Market
How does StealthGas dividend yield compare to the market?
SegmentDividend Yield
Company (StealthGas)n/a
Market Bottom 25% (US)1.7%
Market Top 25% (US)4.7%
Industry Average (Oil and Gas)5.0%
Analyst forecast in 3 Years (StealthGas)n/a

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

High Dividend: Unable to evaluate GASS'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 GASS's dividends per share have been stable in the past.

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


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as GASS has not reported any payouts.


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Management

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

17.1yrs

Average board tenure


CEO

Harry Vafias (44 yo)

17.75yrs

Tenure

Mr. Harry N. Vafias has been a member of the Board of Directors and Chief Executive Officer and President of Imperial Petroleum since its inception on May 14, 2021. He has been the Chief Executive Officer...


Board Members

Experienced Board: GASS's board of directors are seasoned and experienced ( 17.1 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.


Ownership Breakdown

What is the ownership structure of GASS?
Owner TypeNumber of SharesOwnership Percentage
Hedge Funds5,921,53915.5%
Individual Insiders8,459,00922.1%
General Public11,615,27330.4%
Institutions12,206,36032.0%

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


Top Shareholders

Top 25 shareholders own 69.29% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
21.92%
Harry Vafias
8,375,069$21.4m1.52%no data
17.01%
Glendon Capital Management L.P.
6,498,794$16.6m10.04%1.56%
9.21%
MSD Partners, L.P.
3,516,652$9.0m0%1.02%
6.3%
Redwood Capital Management, LLC
2,404,887$6.2m0%0.97%
4.98%
Renaissance Technologies LLC
1,903,989$4.9m-1.72%0.01%
4.19%
Towerview LLC
1,600,000$4.1m-49.29%2.32%
1.27%
Marshall Wace LLP
486,903$1.2m0%no data
1.05%
Millennium Management LLC
400,059$1.0m1712.11%no data
0.6%
Royce & Associates, LP
229,664$587.9k0%0.01%
0.41%
Engineers Gate Manager LP
158,276$405.2k0%0.02%
0.31%
Susquehanna International Group, LLP, Asset Management Arm
119,738$306.5k120.22%no data
0.31%
Morgan Stanley, Investment Banking and Brokerage Investments
118,025$302.1k6.77%no data
0.26%
BBVA Asset Management, S.A., S.G.I.I.C.
97,533$249.7k0%no data
0.23%
Walleye Capital LLC
87,505$224.0k0%no data
0.19%
Goldman Sachs Group, Investment Banking and Securities Investments
73,875$189.1k0%no data
0.17%
Jane Street Group, LLC, Asset Management Arm
66,610$170.5k0%no data
0.16%
I.B.I Mutual Funds Management (1978) Ltd.
62,125$159.0k0%0.02%
0.13%
XTX Holdings Limited, Asset Management Arm
48,401$123.9k0%0.05%
0.12%
Michael Jolliffe
47,430$121.4k0%no data
0.11%
Quadrature Capital Limited
43,507$111.4k0%0.01%
0.1%
Geode Capital Management, LLC
39,172$100.3k0%no data
0.078%
Acadian Asset Management LLC
29,770$76.2k0%no data
0.066%
Markos Drakos
25,214$64.5k0%no data
0.054%
Grant/Grossmendelsohn, Llc
20,600$52.7k0%0.03%
0.043%
Point72 Asset Management, L.P.
16,280$41.7k0%no data

Company Information

StealthGas Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: StealthGas Inc.
  • Ticker: GASS
  • Exchange: NasdaqGS
  • Founded: 2004
  • Industry: Oil and Gas Storage and Transportation
  • Sector: Energy
  • Implied Market Cap: US$97.798m
  • Shares outstanding: 38.20m
  • Website: https://www.stealthgas.com

Location

  • StealthGas Inc.
  • 331 Kifissias Avenue
  • Erithrea
  • Athens
  • 14561
  • Greece


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
GASSNasdaqGS (Nasdaq Global Select)YesCommon SharesUSUSDOct 2005
S6WDB (Deutsche Boerse AG)YesCommon SharesDEEUROct 2005

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/30 00:00
End of Day Share Price2022/09/30 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


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.