company background image
DHT

DHT HoldingsNYSE:DHT Stock Report

Market Cap

US$1.1b

7D

-6.8%

1Y

32.3%

Updated

26 Oct, 2021

Data

Company Financials +
DHT fundamental analysis
Snowflake Score
Valuation6/6
Future Growth4/6
Past Performance2/6
Financial Health4/6
Dividends4/6

DHT Overview

DHT Holdings, Inc., through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, Oslo, and Norway.

DHT Holdings Competitors

Frontline

NYSE:FRO

US$1.8b

International Seaways

NYSE:INSW

US$924.8m

Ardmore Shipping

NYSE:ASC

US$139.9m

Martin Midstream Partners

NasdaqGS:MMLP

US$125.7m

Price History & Performance

Summary of all time highs, changes and price drops for DHT Holdings
Historical stock prices
Current Share PriceUS$6.60
52 Week HighUS$4.52
52 Week LowUS$7.19
Beta-0.37
1 Month Change8.73%
3 Month Change14.98%
1 Year Change32.27%
3 Year Change29.67%
5 Year Change65.83%
Change since IPO-95.44%

Recent News & Updates

Oct 20
These Return Metrics Don't Make DHT Holdings (NYSE:DHT) Look Too Strong

These Return Metrics Don't Make DHT Holdings (NYSE:DHT) Look Too Strong

When we're researching a company, it's sometimes hard to find the warning signs, but there are some financial metrics...

Sep 07

DHT Holdings: The Patient Shall Be Rewarded

The company is operating in a very rough market. Management team has managed to almost get over with modernizing the company's fleet, while prepaying debt for the next two years. Risks regarding the speed of the global economic recovery and the VLCC market specific micro - economics, do apply. However, for the medium to long-term investor, DHT Holdings is a very nice way to gain exposure in the oil market while limiting downside risks.

Aug 06
Here's Why DHT Holdings (NYSE:DHT) Can Manage Its Debt Responsibly

Here's Why DHT Holdings (NYSE:DHT) Can Manage Its Debt Responsibly

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...

Jul 13
DHT Holdings' (NYSE:DHT) Returns On Capital Are Heading Higher

DHT Holdings' (NYSE:DHT) Returns On Capital Are Heading Higher

Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Typically, we'll want...

Shareholder Returns

DHTUS Oil and GasUS Market
7D-6.8%2.4%1.9%
1Y32.3%97.8%33.4%

Return vs Industry: DHT underperformed the US Oil and Gas industry which returned 97.8% over the past year.

Return vs Market: DHT underperformed the US Market which returned 33.4% over the past year.

Price Volatility

Is DHT's price volatile compared to industry and market?
DHT volatility
DHT Beta-0.37
Industry Beta1.74
Market Beta1

Stable Share Price: DHT is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: DHT's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
200518Trygve Munthehttps://www.dhtankers.com

DHT Holdings, Inc., through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, Oslo, and Norway. As of March 17, 2021, it had a fleet of 28 very large crude carriers with a capacity of 8,660,835 deadweight tons. The company was founded in 2005 and is headquartered in Hamilton, Bermuda.

DHT Holdings Fundamentals Summary

How do DHT Holdings's earnings and revenue compare to its market cap?
DHT fundamental statistics
Market CapUS$1.10b
Earnings (TTM)US$70.70m
Revenue (TTM)US$386.11m

15.6x

P/E Ratio

2.8x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
DHT income statement (TTM)
RevenueUS$386.11m
Cost of RevenueUS$155.63m
Gross ProfitUS$230.48m
ExpensesUS$159.78m
EarningsUS$70.70m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.42
Gross Margin59.69%
Net Profit Margin18.31%
Debt/Equity Ratio50.1%

How did DHT perform over the long term?

See historical performance and comparison

Dividends

16.4%

Current Dividend Yield

74%

Payout Ratio

Valuation

Is DHT Holdings undervalued compared to its fair value and its price relative to the market?

44.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: DHT ($6.6) is trading below our estimate of fair value ($11.96)

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


Price To Earnings Ratio

PE vs Industry: DHT is good value based on its PE Ratio (15.6x) compared to the US Oil and Gas industry average (20.2x).

PE vs Market: DHT is good value based on its PE Ratio (15.6x) compared to the US market (18.3x).


Price to Earnings Growth Ratio

PEG Ratio: DHT is good value based on its PEG Ratio (0.2x)


Price to Book Ratio

PB vs Industry: DHT is good value based on its PB Ratio (1x) compared to the US Oil and Gas industry average (2.1x).


Future Growth

How is DHT Holdings forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

85.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: DHT's forecast earnings growth (85.4% per year) is above the savings rate (2%).

Earnings vs Market: DHT's earnings (85.4% per year) are forecast to grow faster than the US market (14.7% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: DHT's revenue (19.5% per year) is forecast to grow faster than the US market (9.9% per year).

High Growth Revenue: DHT's revenue (19.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: DHT's Return on Equity is forecast to be low in 3 years time (8.6%).


Past Performance

How has DHT Holdings performed over the past 5 years?

50.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: DHT has high quality earnings.

Growing Profit Margin: DHT's current net profit margins (18.3%) are lower than last year (36.4%).


Past Earnings Growth Analysis

Earnings Trend: DHT's earnings have grown significantly by 50.5% per year over the past 5 years.

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

Earnings vs Industry: DHT had negative earnings growth (-74.2%) over the past year, making it difficult to compare to the Oil and Gas industry average (-18.6%).


Return on Equity

High ROE: DHT's Return on Equity (6.5%) is considered low.


Financial Health

How is DHT Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: DHT's short term assets ($125.1M) exceed its short term liabilities ($37.6M).

Long Term Liabilities: DHT's short term assets ($125.1M) do not cover its long term liabilities ($529.5M).


Debt to Equity History and Analysis

Debt Level: DHT's debt to equity ratio (50.1%) is considered high.

Reducing Debt: DHT's debt to equity ratio has reduced from 81.2% to 50.1% over the past 5 years.

Debt Coverage: DHT's debt is well covered by operating cash flow (47.3%).

Interest Coverage: DHT's interest payments on its debt are well covered by EBIT (4.8x coverage).


Balance Sheet


Dividend

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

16.36%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: DHT's dividend (16.36%) is higher than the bottom 25% of dividend payers in the US market (1.27%).

High Dividend: DHT's dividend (16.36%) is in the top 25% of dividend payers in the US market (3.48%)


Stability and Growth of Payments

Stable Dividend: DHT's dividend payments have been volatile in the past 10 years.

Growing Dividend: DHT's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (73.6%), DHT's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: DHT's dividends in 3 years are forecast to be covered by earnings (56.7% payout ratio).


Next Steps

Management

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

7.3yrs

Average management tenure


CEO

Trygve Munthe (59 yo)

7.33yrs

Tenure

US$1,932,263

Compensation

Mr. Trygve Preben Munthe has been Co-Chief Executive Officer of DHT Holdings, Inc. since June 23, 2014 and served as its President since September 1, 2010. Mr. Munthe served as Chief Operating Officer of D...


CEO Compensation Analysis

Compensation vs Market: Insufficient data to establish whether Trygve's total compensation is reasonable compared to companies of similar size in the US market.

Compensation vs Earnings: Trygve's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

Experienced Management: DHT's management team is seasoned and experienced (7.3 years average tenure).


Board Members

Experienced Board: DHT's board of directors are considered experienced (5.2 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

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 13.1%.


Top Shareholders

Company Information

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


Key Information

  • Name: DHT Holdings, Inc.
  • Ticker: DHT
  • Exchange: NYSE
  • Founded: 2005
  • Industry: Oil and Gas Storage and Transportation
  • Sector: Energy
  • Market Cap: US$1.100b
  • Shares outstanding: 166.69m
  • Website: https://www.dhtankers.com

Number of Employees


Location

  • DHT Holdings, Inc.
  • Clarendon House
  • 2 Church Street
  • Hamilton
  • HM 11
  • Bermuda

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/26 22:38
End of Day Share Price2021/10/26 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.