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Ardmore Shipping

NYSE:ASC
Snowflake Description

Mediocre balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ASC
NYSE
$194M
Market Cap
  1. Home
  2. US
  3. Energy
Company description

Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals worldwide. The last earnings update was 18 days ago. More info.


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  • Ardmore Shipping has significant price volatility in the past 3 months.
ASC Share Price and Events
7 Day Returns
-3.1%
NYSE:ASC
-3.4%
US Oil and Gas
-1%
US Market
1 Year Returns
-10%
NYSE:ASC
-22.5%
US Oil and Gas
-0.4%
US Market
ASC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Ardmore Shipping (ASC) -3.1% -25.4% -24.5% -10% -26.4% -55%
US Oil and Gas -3.4% -9.2% -12% -22.5% -16.8% -42.4%
US Market -1% -3.3% 0.4% -0.4% 30.4% 37.1%
1 Year Return vs Industry and Market
  • ASC outperformed the Oil and Gas industry which returned -22.5% over the past year.
  • ASC underperformed the Market in United States of America which returned -0.4% over the past year.
Price Volatility
ASC
Industry
5yr Volatility vs Market

ASC Value

 Is Ardmore Shipping undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Ardmore Shipping to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Ardmore Shipping.

NYSE:ASC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 14.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:ASC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.9
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.9 (1 + (1- 21%) (224.29%))
2.001
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (2 * 5.96%)
14.65%

Discounted Cash Flow Calculation for NYSE:ASC using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Ardmore Shipping is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

NYSE:ASC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 14.65%)
2020 64.90 Analyst x3 56.61
2021 51.79 Analyst x1 39.40
2022 44.06 Est @ -14.92% 29.24
2023 39.82 Est @ -9.63% 23.05
2024 37.46 Est @ -5.92% 18.91
2025 36.22 Est @ -3.32% 15.95
2026 35.67 Est @ -1.51% 13.70
2027 35.59 Est @ -0.24% 11.92
2028 35.82 Est @ 0.65% 10.47
2029 36.28 Est @ 1.28% 9.24
Present value of next 10 years cash flows $228.48
NYSE:ASC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $36.28 × (1 + 2.73%) ÷ (14.65% – 2.73%)
$312.65
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $312.65 ÷ (1 + 14.65%)10
$79.67
NYSE:ASC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $228.48 + $79.67
$308.15
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $308.15 / 33.10
$9.31
NYSE:ASC Discount to Share Price
Calculation Result
Value per share (USD) From above. $9.31
Current discount Discount to share price of $5.85
= -1 x ($5.85 - $9.31) / $9.31
37.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Ardmore Shipping is available for.
Intrinsic value
37%
Share price is $5.85 vs Future cash flow value of $9.31
Current Discount Checks
For Ardmore Shipping to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Ardmore Shipping's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Ardmore Shipping's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Ardmore Shipping's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Ardmore Shipping's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:ASC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $-1.46
NYSE:ASC Share Price ** NYSE (2019-08-16) in USD $5.85
United States of America Oil and Gas Industry PE Ratio Median Figure of 103 Publicly-Listed Oil and Gas Companies 8.77x
United States of America Market PE Ratio Median Figure of 3,095 Publicly-Listed Companies 17.23x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Ardmore Shipping.

NYSE:ASC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:ASC Share Price ÷ EPS (both in USD)

= 5.85 ÷ -1.46

-4.01x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ardmore Shipping is loss making, we can't compare its value to the US Oil and Gas industry average.
  • Ardmore Shipping is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Ardmore Shipping's expected growth come at a high price?
Raw Data
NYSE:ASC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -4.01x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
107.2%per year
United States of America Oil and Gas Industry PEG Ratio Median Figure of 81 Publicly-Listed Oil and Gas Companies 0.32x
United States of America Market PEG Ratio Median Figure of 2,124 Publicly-Listed Companies 1.4x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Ardmore Shipping, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Ardmore Shipping's assets?
Raw Data
NYSE:ASC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $9.92
NYSE:ASC Share Price * NYSE (2019-08-16) in USD $5.85
United States of America Oil and Gas Industry PB Ratio Median Figure of 198 Publicly-Listed Oil and Gas Companies 0.89x
United States of America Market PB Ratio Median Figure of 5,265 Publicly-Listed Companies 1.7x
NYSE:ASC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:ASC Share Price ÷ Book Value per Share (both in USD)

= 5.85 ÷ 9.92

0.59x

* Primary Listing of Ardmore Shipping.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ardmore Shipping is good value based on assets compared to the US Oil and Gas industry average.
X
Value checks
We assess Ardmore Shipping's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Ardmore Shipping has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

ASC Future Performance

 How is Ardmore Shipping expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
107.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Ardmore Shipping expected to grow at an attractive rate?
  • Ardmore Shipping's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Ardmore Shipping's earnings growth is expected to exceed the United States of America market average.
  • Ardmore Shipping's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:ASC Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:ASC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 107.2%
NYSE:ASC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts -0.6%
United States of America Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 4.7%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:ASC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:ASC Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 166 40 2
2020-12-31 170 73 25 4
2019-12-31 138 34 -17 3
NYSE:ASC Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 225 11 -48
2019-03-31 222 6 -47
2018-12-31 210 9 -43
2018-09-30 200 14 -30
2018-06-30 199 19 -22
2018-03-31 197 23 -15
2017-12-31 196 18 -12
2017-09-30 191 22 -12
2017-06-30 181 24 -13
2017-03-31 171 26 -5
2016-12-31 164 43 4
2016-09-30 163 42 13

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Ardmore Shipping's earnings are expected to grow significantly at over 20% yearly.
  • Ardmore Shipping's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:ASC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Ardmore Shipping Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:ASC Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.19 1.19 1.19 1.00
2020-12-31 0.71 0.75 0.66 2.00
2019-12-31 -0.53 -0.53 -0.53 1.00
NYSE:ASC Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 -1.46
2019-03-31 -1.42
2018-12-31 -1.31
2018-09-30 -0.91
2018-06-30 -0.67
2018-03-31 -0.47
2017-12-31 -0.37
2017-09-30 -0.37
2017-06-30 -0.37
2017-03-31 -0.16
2016-12-31 0.12
2016-09-30 0.45

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Ardmore Shipping is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Ardmore Shipping's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Ardmore Shipping has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

ASC Past Performance

  How has Ardmore Shipping performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Ardmore Shipping's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Ardmore Shipping does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Ardmore Shipping's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Ardmore Shipping's 1-year growth to the US Oil and Gas industry average as it is not currently profitable.
Earnings and Revenue History
Ardmore Shipping's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Ardmore Shipping Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:ASC Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 224.60 -48.29 16.75
2019-03-31 221.97 -46.92 16.75
2018-12-31 210.18 -42.94 15.86
2018-09-30 199.52 -29.80 15.80
2018-06-30 199.25 -22.22 15.30
2018-03-31 196.74 -15.50 14.65
2017-12-31 195.94 -12.49 14.60
2017-09-30 191.35 -12.35 13.41
2017-06-30 180.66 -12.51 13.48
2017-03-31 170.53 -5.16 13.26
2016-12-31 164.40 3.75 14.08
2016-09-30 163.00 12.80 14.38
2016-06-30 172.21 31.20 13.15
2016-03-31 171.80 33.63 12.25
2015-12-31 157.88 31.95 10.75
2015-09-30 138.36 28.45 9.53
2015-06-30 110.04 14.97 8.83
2015-03-31 84.56 7.14 8.01
2014-12-31 67.33 1.66 8.18
2014-09-30 54.70 -1.89 8.24
2014-06-30 46.46 -2.93 8.32
2014-03-31 40.98 -4.22 7.30
2013-12-31 35.87 -3.84 5.67
2013-09-30 31.98 -3.53 4.53
2013-06-30 26.98 -4.03 3.11
2013-03-31 25.67 -3.34 2.92
2012-12-31 25.17 -4.54 2.98

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Ardmore Shipping has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Ardmore Shipping has efficiently used its assets last year compared to the US Oil and Gas industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Ardmore Shipping improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Ardmore Shipping's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Ardmore Shipping has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

ASC Health

 How is Ardmore Shipping's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Ardmore Shipping's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Ardmore Shipping is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Ardmore Shipping's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Ardmore Shipping's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Ardmore Shipping Company Filings, last reported 1 month ago.

NYSE:ASC Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 328.49 208.05 54.84
2019-03-31 337.87 218.75 52.29
2018-12-31 346.58 228.35 56.90
2018-09-30 363.54 351.34 33.27
2018-06-30 375.29 358.90 47.89
2018-03-31 378.06 394.30 35.28
2017-12-31 380.97 404.42 39.46
2017-09-30 395.95 402.88 45.81
2017-06-30 400.48 412.54 54.81
2017-03-31 402.22 442.52 45.24
2016-12-31 404.27 453.21 55.95
2016-09-30 407.80 457.28 52.97
2016-06-30 415.33 377.08 103.13
2016-03-31 348.83 385.98 47.47
2015-12-31 347.61 388.24 40.11
2015-09-30 348.68 361.55 43.31
2015-06-30 336.51 326.93 41.89
2015-03-31 330.02 263.71 22.08
2014-12-31 327.20 196.46 59.88
2014-09-30 328.85 189.75 66.00
2014-06-30 331.00 128.61 65.99
2014-03-31 333.05 131.59 128.12
2013-12-31 232.36 88.86 56.86
2013-09-30 235.03 91.14 76.98
2013-06-30 107.17 93.41 9.86
2013-03-31 108.35 100.69 6.57
2012-12-31 108.39 67.10 15.33
  • Ardmore Shipping's level of debt (63.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (39.1% vs 63.3% today).
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.

  • Whilst loss making Ardmore Shipping has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Ardmore Shipping has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -99.7% per year.
X
Financial health checks
We assess Ardmore Shipping's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Ardmore Shipping has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

ASC Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Ardmore Shipping dividends. Estimated to be 10.35% next year.
If you bought $2,000 of Ardmore Shipping shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Ardmore Shipping's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Ardmore Shipping's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:ASC Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
United States of America Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 68 Stocks 4.2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2009 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:ASC Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.72 1.00
2020-12-31 0.77 3.00
2019-12-31 0.00 1.00
NYSE:ASC Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-05-02 0.000 0.000
2018-03-29 0.000 0.000
2018-02-07 0.000 0.000
2017-11-01 0.000 0.000
2017-08-02 0.000 0.000
2017-05-03 0.000 0.000
2017-03-13 0.000 0.000
2017-02-07 0.000 0.000
2016-11-02 0.000 0.000
2016-04-06 0.640 8.332
2016-02-03 0.640 7.801
2015-10-27 1.240 10.661
2015-07-15 0.400 3.214
2015-04-15 0.400 3.362
2015-01-15 0.400 3.738
2014-10-15 0.400 3.788
2014-07-15 0.400 3.301
2014-04-15 0.400 2.965
2014-01-15 0.400 2.941
2013-11-11 0.400 2.947

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Ardmore Shipping has not reported any payouts.
  • Unable to verify if Ardmore Shipping's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Ardmore Shipping's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Ardmore Shipping has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (0.9x coverage).
X
Income/ dividend checks
We assess Ardmore Shipping's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Ardmore Shipping afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Ardmore Shipping has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

ASC Management

 What is the CEO of Ardmore Shipping's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Tony Gurnee
AGE 59
TENURE AS CEO 9.6 years
CEO Bio

Mr. Anthony Gurnee, also known as Tony, CFA is the Founder and has been the Chief Executive Officer and President of Ardmore Shipping Corporation (a/k/a, Ardmore Shipping Limited) since 2010. Mr. Gurnee is a Managing Partner of Tridens LLC. He is the Founder and Chief Executive Officer of Tridens LLC. He also serves as an Advisor at Great Circle Capital. He co-founded Navigation Finance Corporation. Mr. Gurnee has 15 years of experience in the shipping industry, both in company senior management and in financial transaction execution and credit risk management in a full range of market conditions. Prior to forming Tridens in 2002, he served as the President and Chief Operating Officer of MTM Group, where he assisted the Chief Executive Officer with an extensive fleet renewal program, commercial business development, organizational improvement and refinancing. He served as the President of Seacove Shipping Partners, a private investment joint venture. He served as the Chief Executive Officer of Industrial Shipping Enterprises, Inc. From 1997 to 2000, Mr. Gurnee served as the President of Nedship International, Inc. and expanded the bank’s corporate advisory and structured derivatives business as well as its loan portfolio and overall market presence in the Americas. From 1992 to 1997, he served as the Chief Financial Officer of Teekay Shipping Corporation and played a key role in it’s transition from a financially unstable condition to a leading public shipping company including restructuring $1.3 billion in debt, high-yield bond issuance and the equity IPO. Mr. Gurnee began his career in 1988 as a Shipping Banker with Citibank, N.A. covering clients in the Americas and served in it till 1992. He serves as a Director of Lasco Shipping Co. He has been a Director of Ardmore Shipping Corporation since 2010. Mr. Gurnee also served as an Officer for six years in the United States Navy from 1981 to 1987, including a tour with naval intelligence providing operational analysis on merchant shipping activities. He is a Fellow of the Institute of Chartered Shipbrokers. Mr. Gurnee is a C.F.A. charter-holder and a graduate of the US Naval Academy and MBA from Columbia Business School.

CEO Compensation
  • Insufficient data for Tony to compare compensation growth.
  • Insufficient data for Tony to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Ardmore Shipping management team in years:

5.7
Average Tenure
46
Average Age
  • The average tenure for the Ardmore Shipping management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Tony Gurnee

TITLE
Founder
AGE
59
TENURE
9.6 yrs

Paul Tivnan

TITLE
Senior VP
AGE
39
TENURE
6.7 yrs

Mark Cameron

TITLE
Executive VP & COO
AGE
53
TENURE
9.2 yrs

Jorge Lavin

TITLE
Director of Accounting
TENURE
1.5 yrs

Aideen O’Driscoll

TITLE
Director of HR
TENURE
2.1 yrs

Gernot Ruppelt

TITLE
Senior VP & Chief Commercial Officer
AGE
38
TENURE
4.7 yrs

Gerry Docherty

TITLE
Director of Fleet Management

Frits K?nst

TITLE
Technical Projects Manager
Board of Directors Tenure

Average tenure and age of the Ardmore Shipping board of directors in years:

3.5
Average Tenure
57.5
Average Age
  • The tenure for the Ardmore Shipping board of directors is about average.
Board of Directors

Curtis McWilliams

TITLE
Chairman of the Board
AGE
63
TENURE
0.6 yrs

Tony Gurnee

TITLE
Founder
AGE
59
TENURE
9.6 yrs

Brian Dunne

TITLE
Director
AGE
53
TENURE
9.2 yrs

Peter Swift

TITLE
Director
AGE
75
TENURE
6 yrs

Helen Tveitan de Jong

TITLE
Director
AGE
51
TENURE
0.9 yrs

Mats Berglund

TITLE
Director
AGE
56
TENURE
0.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Ardmore Shipping's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Ardmore Shipping has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

ASC News

Simply Wall St News

Is Ardmore Shipping (NYSE:ASC) Using Debt Sensibly?

We can see that Ardmore Shipping Corporation (NYSE:ASC) does use debt in its business. … Check out our latest analysis for Ardmore Shipping What Is Ardmore Shipping's Debt? … NYSE:ASC Historical Debt, July 31st 2019 How Strong Is Ardmore Shipping's Balance Sheet?

Simply Wall St -

How Does Ardmore Shipping Corporation (NYSE:ASC) Affect Your Portfolio Volatility?

If you're interested in Ardmore Shipping Corporation (NYSE:ASC), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market. … If this beta value holds true in the future, Ardmore Shipping shares are likely to rise more than the market when the market is going up, but fall faster when the market is going down.

Simply Wall St -

How Financially Strong Is Ardmore Shipping Corporation (NYSE:ASC)?

ASC’s Debt (And Cash Flows) ASC has sustained its debt level by about US$449m over the last 12 months including long-term debt. … With current liabilities at US$62m, it appears that the company has been able to meet these commitments with a current assets level of US$96m, leading to a 1.56x current account ratio. … Next Steps: ASC’s high cash coverage means that, although its debt levels are high, the company is able to utilise its borrowings efficiently in order to generate cash flow.

Simply Wall St -

Is There An Opportunity With Ardmore Shipping Corporation's (NYSE:ASC) 46% Undervaluation?

by taking the expected future cash flows and discounting them to their present value. … I will be using the Discounted Cash Flow (DCF) model! … We generally believe that a company's value is the present value of all of the cash it will generate in the future.

Simply Wall St -

Is Ardmore Shipping Corporation (NYSE:ASC) A Financially Sound Company?

Investors are always looking for growth in small-cap stocks like Ardmore Shipping Corporation (NYSE:ASC), with a market cap of US$176m. … However, an important fact which most ignore is: how financially healthy is the business?

Simply Wall St -

Is Ardmore Shipping Corporation (NYSE:ASC) A Volatile Stock?

Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market.

Simply Wall St -

How Financially Strong Is Ardmore Shipping Corporation (NYSE:ASC)?

Investors are always looking for growth in small-cap stocks like Ardmore Shipping Corporation (NYSE:ASC), with a market cap of US$227.12m. … However, an important fact which most ignore is: how financially healthy is the business?

Simply Wall St -

One Thing To Consider Before Buying Ardmore Shipping Corporation (NYSE:ASC)

The first type is company-specific risk, which can be diversified away by investing in other companies to reduce exposure to one particular stock. … The other type of risk, which cannot be diversified away, is market risk. … Every stock in the market is exposed to this risk, which arises from macroeconomic factors such as economic growth and geo-political tussles just to name a few.

Simply Wall St -

When Should You Buy Ardmore Shipping Corporation (NYSE:ASC)?

Great news for investors – Ardmore Shipping is still trading at a fairly cheap price. … What’s more interesting is that, Ardmore Shipping’s share price is quite stable, which could mean two things: firstly, it may take the share price a while to move to its intrinsic value, and secondly, there may be less chances to buy low in the future once it reaches that value. … However, with an expected decline of -7.78% in revenues over the next couple of years, near-term growth certainly doesn’t appear to be a driver for a buy decision for Ardmore Shipping.

Simply Wall St -

Are Ardmore Shipping Corporation's (NYSE:ASC) Interest Costs Too High?

At this current level of debt, the current cash and short-term investment levels stands at US$39.46M , ready to deploy into the business. … Additionally, ASC has produced cash from operations of US$18.42M in the last twelve months, leading to an operating cash to total debt ratio of 4.12%, indicating that ASC’s operating cash is not sufficient to cover its debt. … Running high debt, while not yet making money, can be risky in unexpected downturns as liquidity may dry up, making it hard to operate.Next Steps: ASC’s cash flow coverage indicates it could improve its operating efficiency in order to meet demand for debt repayments should unforeseen events arise.

Simply Wall St -

ASC Company Info

Description

Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals worldwide. As of January 31, 2019, the company operated a fleet of 27 double-hulled product and chemical tankers, including 21 Eco-design and 6 Eco-mod vessels. It serves oil majors, oil companies, oil and chemical traders, and chemical companies. The company was founded in 2010 and is based in Pembroke, Bermuda.

Details
Name: Ardmore Shipping Corporation
ASC
Exchange: NYSE
Founded: 2010
$193,622,311
33,097,831
Website: http://ardmoreshipping.com
Address: Ardmore Shipping Corporation
Belvedere Building,
Ground Floor,
Pembroke,
HM08,
Bermuda
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE ASC Common Shares New York Stock Exchange US USD 01. Aug 2013
DB A61 Common Shares Deutsche Boerse AG DE EUR 01. Aug 2013
Number of employees
Current staff
Staff numbers
51
Ardmore Shipping employees.
Industry
Oil and Gas Storage and Transportation
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/08/18 01:08
End of day share price update: 2019/08/16 00:00
Last estimates confirmation: 2019/08/07
Last earnings filing: 2019/07/31
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.