NYSE:CLB

Stock Analysis Report

Executive Summary

Core Laboratories N.V. provides reservoir description and production enhancement services and products to the oil and gas industry in the United States, Canada, and internationally.

Rewards

Pays a reliable dividend of 4.93%

Risk Analysis

Earnings are forecast to decline by an average of -4% per year for the next 3 years

Dividend of 4.93% is not well covered by earnings or forecast to be in the next 3 years

Has a high level of debt



Snowflake Analysis

Adequate balance sheet average dividend payer.


Similar Companies

Share Price & News

How has Core Laboratories's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CLB has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

1.7%

CLB

3.1%

US Energy Services

0.3%

US Market


1 Year Return

-38.9%

CLB

-21.1%

US Energy Services

18.5%

US Market

Return vs Industry: CLB underperformed the US Energy Services industry which returned -21.1% over the past year.

Return vs Market: CLB underperformed the US Market which returned 18.5% over the past year.


Shareholder returns

CLBIndustryMarket
7 Day1.7%3.1%0.3%
30 Day-7.9%0.5%1.5%
90 Day-1.8%-4.0%5.7%
1 Year-36.5%-38.9%-18.7%-21.1%21.1%18.5%
3 Year-60.0%-63.0%-54.2%-60.4%45.9%36.4%
5 Year-55.5%-60.5%-50.6%-58.8%71.4%52.5%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Core Laboratories undervalued compared to its fair value and its price relative to the market?

21.45x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: CLB ($44.64) is trading above our estimate of fair value ($42.07)

Significantly Below Fair Value: CLB is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: CLB is poor value based on its PE Ratio (21.4x) compared to the Energy Services industry average (15.5x).

PE vs Market: CLB is poor value based on its PE Ratio (21.4x) compared to the US market (18.5x).


Price to Earnings Growth Ratio

PEG Ratio: CLB's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: CLB is overvalued based on its PB Ratio (10.4x) compared to the US Energy Services industry average (0.7x).


Next Steps

Future Growth

How is Core Laboratories forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?

-4.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CLB's earnings are forecast to decline over the next 3 years (-4% per year).

Earnings vs Market: CLB's earnings are forecast to decline over the next 3 years (-4% per year).

High Growth Earnings: CLB's earnings are forecast to decline over the next 3 years.

Revenue vs Market: CLB's revenue (2.2% per year) is forecast to grow slower than the US market (7.4% per year).

High Growth Revenue: CLB's revenue (2.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CLB's Return on Equity is forecast to be very high in 3 years time (57.6%).


Next Steps

  • Explore growth companies in the Energy industry.

Past Performance

How has Core Laboratories performed over the past 5 years?

-25.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CLB has high quality earnings.

Growing Profit Margin: CLB's current net profit margins (13.5%) are higher than last year (13.3%).


Past Earnings Growth Analysis

Earnings Trend: CLB's earnings have declined by -25% per year over the past 5 years.

Accelerating Growth: CLB's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: CLB had negative earnings growth (-0.7%) over the past year, making it difficult to compare to the Energy Services industry average (-16.6%).


Return on Equity

High ROE: Whilst CLB's Return on Equity (47.59%) is outstanding, this metric is skewed due to their high level of debt.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Core Laboratories's financial position?


Financial Position Analysis

Short Term Liabilities: CLB's short term assets ($230.7M) exceed its short term liabilities ($120.0M).

Long Term Liabilities: CLB's short term assets ($230.7M) do not cover its long term liabilities ($473.1M).


Debt to Equity History and Analysis

Debt Level: CLB's debt to equity ratio (153.4%) is considered high.

Reducing Debt: CLB's debt to equity ratio has reduced from 354.7% to 153.4% over the past 5 years.

Debt Coverage: CLB's debt is well covered by operating cash flow (35.6%).

Interest Coverage: CLB's interest payments on its debt are well covered by EBIT (6.4x coverage).


Balance Sheet

Inventory Level: CLB has a high level of physical assets or inventory.

Debt Coverage by Assets: CLB's debt is not covered by short term assets (assets are 0.8x debt).


Next Steps

Dividend

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

4.93%

Current Dividend Yield


Dividend Yield vs Market

company4.9%marketbottom25%1.4%markettop25%3.7%industryaverage4.0%forecastin3Years4.9%

Current dividend yield vs market & industry

Notable Dividend: CLB's dividend (4.93%) is higher than the bottom 25% of dividend payers in the US market (1.42%).

High Dividend: CLB's dividend (4.93%) is in the top 25% of dividend payers in the US market (3.7%)


Stability and Growth of Payments

Stable Dividend: CLB's dividends per share have been stable in the past 10 years.

Growing Dividend: CLB's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (105.7%), CLB's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CLB's dividends in 3 years are not forecast to be well covered by earnings (101.8% payout ratio).


Next Steps

Management

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

2.6yrs

Average management tenure


CEO

David Demshur (64yo)

25.9yrs

Tenure

US$8,875,221

Compensation

Mr. David M. Demshur has been the Chief Executive Officer of Core Laboratories NV since 1994 and served as its President from 1994 to February 1, 2018. Mr. Demshur joined Core Laboratories N.V. in 1979 and ...


CEO Compensation Analysis

Compensation vs Market: David's total compensation ($USD8.88M) is above average for companies of similar size in the US market ($USD3.87M).

Compensation vs Earnings: David's compensation has been consistent with company performance over the past year.


Management Age and Tenure

2.6yrs

Average Tenure

59.5yo

Average Age

Experienced Management: CLB's management team is considered experienced (2.6 years average tenure).


Board Age and Tenure

3.9yrs

Average Tenure

64yo

Average Age

Experienced Board: CLB's board of directors are considered experienced (3.9 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$116,00015 Aug 19
Gregory Barnett
EntityIndividual
Role
Member of the Board of Directors
Supervisory Director
Shares3,000
Max PriceUS$40.00
SellUS$28,35512 Mar 19
Kevin Daniels
EntityIndividual
Role
Chief Accounting Officer
Chief Accounting Officer
Shares428
Max PriceUS$66.25
SellUS$93,01031 Dec 18
Peter W. Boks
EntityIndividual
Shares1,559
Max PriceUS$59.66

Ownership Breakdown

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


Management Team

  • David Demshur (64yo)

    CEO & Chairman of Supervisory Board

    • Tenure: 25.9yrs
    • Compensation: US$8.88m
  • Jacobus Schouten (64yo)

    Managing Director

    • Tenure: 0yrs
    • Compensation: US$174.34k
  • Mark Elvig (60yo)

    Senior VP

    • Tenure: 11.8yrs
  • Gwen Schreffler

    Senior Vice President of Corporate Development & Investor Relations

    • Tenure: 3.3yrs
  • Chris Hill (49yo)

    Senior VP & CFO

    • Tenure: 1.6yrs
    • Compensation: US$628.57k
  • Larry Bruno (59yo)

    COO, President & Supervisory Director

    • Tenure: 1.6yrs
    • Compensation: US$1.80m
  • Kevin Daniels (55yo)

    Chief Accounting Officer

    • Tenure: 1.5yrs

Board Members

  • David Demshur (64yo)

    CEO & Chairman of Supervisory Board

    • Tenure: 25.9yrs
    • Compensation: US$8.88m
  • Mike Straughen (69yo)

    Supervisory Director

    • Tenure: 3.9yrs
    • Compensation: US$293.42k
  • Martha Carnes (58yo)

    Supervisory Director

    • Tenure: 3.9yrs
    • Compensation: US$304.89k
  • Jan Sodderland (77yo)

    Supervisory Director

    • Tenure: 8.9yrs
    • Compensation: US$287.42k
  • Margaret van Kempen (66yo)

    Supervisory Director

    • Tenure: 7.6yrs
    • Compensation: US$269.63k
  • Larry Bruno (59yo)

    COO, President & Supervisory Director

    • Tenure: 1.6yrs
    • Compensation: US$1.80m
  • Gregory Barnett (57yo)

    Supervisory Director

    • Tenure: 0.6yrs

Company Information

Core Laboratories N.V.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Core Laboratories N.V.
  • Ticker: CLB
  • Exchange: NYSE
  • Founded: 1936
  • Industry: Oil and Gas Equipment and Services
  • Sector: Energy
  • Market Cap: US$1.981b
  • Shares outstanding: 44.37m
  • Website: https://www.corelab.com

Number of Employees


Location

  • Core Laboratories N.V.
  • Tower A
  • Level 9
  • Amsterdam
  • Noord-Holland
  • 1077 XX
  • Netherlands

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CLBNYSE (New York Stock Exchange)YesCommon SharesUSUSDSep 1995
CEIDB (Deutsche Boerse AG)YesCommon SharesDEEURSep 1995
CLBENXTAM (Euronext Amsterdam)YesCommon SharesNLEURSep 1995
0Q82LSE (London Stock Exchange)YesCommon SharesGBEURSep 1995
CLBABATS-CHIXE (BATS 'Chi-X Europe')YesCommon SharesGBEURSep 1995
CLB NBMV (Bolsa Mexicana de Valores)YesCommon SharesMXMXNSep 1995

Biography

Core Laboratories N.V. provides reservoir description and production enhancement services and products to the oil and gas industry in the United States, Canada, and internationally. The company operates in ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/09 23:47
End of Day Share Price2019/12/09 00:00
Earnings2019/09/30
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.