NYSE:ASC

Stock Analysis Report

Executive Summary

Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals worldwide.

Snowflake

Fundamentals

Mediocre balance sheet with moderate growth potential.

Risks

  • Ardmore Shipping has significant price volatility in the past 3 months.

Similar Companies

Share Price & News

How has Ardmore Shipping's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

4.8%

NYSE:ASC

2.9%

US Oil and Gas

2.9%

US Market


1 Year Return

-11.8%

NYSE:ASC

-22.7%

US Oil and Gas

0.2%

US Market

ASC outperformed the Oil and Gas industry which returned -22.7% over the past year.

ASC underperformed the Market in United States of America which returned 0.2% over the past year.


Share holder returns

ASCIndustryMarket
7 Day4.8%2.9%2.9%
30 Day-20.3%-7.9%-2.3%
90 Day-13.1%-6.6%3.1%
1 Year-11.8%-11.8%-19.9%-22.7%2.4%0.2%
3 Year-14.1%-14.1%-6.3%-14.7%41.7%32.4%
5 Year-47.8%-53.2%-33.0%-42.0%55.1%37.9%

Price Volatility Vs. Market

How volatile is Ardmore Shipping's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

35%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

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 Based on Earnings

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

Unable to calculate PEG ratio for Ardmore Shipping, we can't assess if its growth is good value.


Price Based on Value of Assets

Ardmore Shipping is good value based on assets compared to the US Oil and Gas industry average.


Next Steps

Future Growth

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

107.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Ardmore Shipping's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.

Ardmore Shipping's earnings are expected to grow significantly at over 20% yearly.

Ardmore Shipping's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.

Ardmore Shipping's earnings growth is expected to exceed the United States of America market average.

Ardmore Shipping's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Ardmore Shipping is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Ardmore Shipping performed over the past 5 years?

-60.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

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.


Return on Equity

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.


Return on Assets

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.


Return on Capital Employed

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.


Next Steps

Financial Health

How is Ardmore Shipping's financial position?


Financial Position Analysis

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.


Debt to Equity History and Analysis

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).


Balance Sheet

High level of physical assets or inventory.

Debt is not covered by short term assets, assets are 0.4x debt.


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.


Next Steps

Dividend

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

9.87%

Expected Dividend Yield


Dividend Yield and Payments Analysis

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.

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

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).


Next Steps

Management

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

5.7yrs

Average management tenure


CEO

Tony Gurnee (59yo)

9.6yrs

Tenure

0

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 ...


Management Age and Tenure

5.7yrs

Average Tenure

46yo

Average Age

The average tenure for the Ardmore Shipping management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

3.5yrs

Average Tenure

57.5yo

Average Age

The tenure for the Ardmore Shipping board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Tony Gurnee (59yo)

    Founder

    • Tenure: 9.6yrs
  • Mark Cameron (53yo)

    Executive VP & COO

    • Tenure: 9.2yrs
  • Paul Tivnan (39yo)

    Senior VP

    • Tenure: 6.7yrs
  • Gernot Ruppelt (38yo)

    Senior VP & Chief Commercial Officer

    • Tenure: 4.7yrs
  • Gerry Docherty

    Director of Fleet Management

    • Tenure: 0.0yrs
  • Jorge Lavin

    Director of Accounting

    • Tenure: 1.5yrs
  • Frits K?nst

    Technical Projects Manager

    • Tenure: 0.0yrs
  • Aideen O’Driscoll

    Director of HR

    • Tenure: 2.1yrs

Board Members

  • Peter Swift (75yo)

    Director

    • Tenure: 6.0yrs
  • Brian Dunne (53yo)

    Director

    • Tenure: 9.2yrs
  • Tony Gurnee (59yo)

    Founder

    • Tenure: 9.6yrs
  • Curtis McWilliams (63yo)

    Chairman of the Board

    • Tenure: 0.6yrs
  • Mats Berglund (56yo)

    Director

    • Tenure: 0.9yrs
  • Helen Tveitan de Jong (51yo)

    Director

    • Tenure: 0.9yrs

Company Information

Ardmore Shipping Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Ardmore Shipping Corporation
  • Ticker: ASC
  • Exchange: NYSE
  • Founded: 2010
  • Industry: Oil and Gas Storage and Transportation
  • Sector: Energy
  • Market Cap: US$202.890m
  • Shares outstanding: 33.10m
  • Website: https://ardmoreshipping.com

Number of Employees


Location

  • Ardmore Shipping Corporation
  • Belvedere Building
  • Ground Floor
  • Pembroke
  • HM08
  • Bermuda

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ASCNYSE (New York Stock Exchange)YesCommon SharesUSUSDAug 2013
A61DB (Deutsche Boerse AG)YesCommon SharesDEEURAug 2013

Biography

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 2 ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/23 00:29
End of Day Share Price2019/08/22 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.