NYSE:DHT

Stock Analysis Report

Executive Summary

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


Snowflake Analysis

Good value second-rate dividend payer.


Similar Companies

Share Price & News

How has DHT Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: DHT's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-1.4%

DHT

-0.7%

US Oil and Gas

-1.1%

US Market


1 Year Return

29.6%

DHT

-18.9%

US Oil and Gas

17.8%

US Market

Return vs Industry: DHT exceeded the US Oil and Gas industry which returned -18.9% over the past year.

Return vs Market: DHT exceeded the US Market which returned 17.8% over the past year.


Shareholder returns

DHTIndustryMarket
7 Day-1.4%-0.7%-1.1%
30 Day-17.9%-5.7%1.5%
90 Day-25.1%-6.9%6.6%
1 Year40.4%29.6%-15.7%-18.9%20.2%17.8%
3 Year35.7%18.0%-12.6%-20.8%47.5%38.1%
5 Year15.6%-19.0%-20.8%-32.5%71.2%52.4%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: DHT ($5.51) is trading below our estimate of fair value ($13.89)

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


Price To Earnings Ratio

PE vs Industry: DHT is poor value based on its PE Ratio (10.7x) compared to the Oil and Gas industry average (10x).

PE vs Market: DHT is good value based on its PE Ratio (10.7x) compared to the US market (18.2x).


Price to Earnings Growth Ratio

PEG Ratio: DHT is good value based on its PEG Ratio (0.5x)


Price to Book Ratio

PB vs Industry: DHT is overvalued based on its PB Ratio (0.9x) compared to the US Oil and Gas industry average (0.8x).


Next Steps

Future Growth

How is DHT Holdings forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

19.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: DHT's forecast earnings growth (19.9% per year) is above the savings rate (1.7%).

Earnings vs Market: DHT's earnings (19.9% per year) are forecast to grow faster than the US market (14.1% per year).

High Growth Earnings: DHT's earnings are forecast to grow, but not significantly.

Revenue vs Market: DHT's revenue is expected to decline over the next 3 years (-8.1% per year).

High Growth Revenue: DHT's revenue is forecast to decline over the next 3 years (-8.1% 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 (12.8%).


Next Steps

Past Performance

How has DHT Holdings performed over the past 5 years?

-41.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: DHT has high quality earnings.

Growing Profit Margin: DHT became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: DHT's earnings have declined by -41.1% per year over the past 5 years.

Accelerating Growth: DHT has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: DHT has become profitable in the last year, making it difficult to compare its past year earnings growth to the Oil and Gas industry (-13.3%).


Return on Equity

High ROE: DHT's Return on Equity (7.9%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is DHT Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: DHT's short term assets ($218.3M) exceed its short term liabilities ($130.2M).

Long Term Liabilities: DHT's short term assets ($218.3M) do not cover its long term liabilities ($764.5M).


Debt to Equity History and Analysis

Debt Level: DHT's debt to equity ratio (92.9%) is considered high.

Reducing Debt: DHT's debt to equity ratio has reduced from 99.4% to 92.9% over the past 5 years.

Debt Coverage: DHT's debt is not well covered by operating cash flow (18%).

Interest Coverage: DHT's interest payments on its debt are not well covered by EBIT (2.6x coverage).


Balance Sheet

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

Debt Coverage by Assets: DHT's debt is not covered by short term assets (assets are 0.3x debt).


Next Steps

Dividend

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

8.53%

Current Dividend Yield


Dividend Yield vs Market

company8.5%marketbottom25%1.4%markettop25%3.7%industryaverage4.6%forecastin3Years13.0%

Current dividend yield vs market & industry

Notable Dividend: DHT's dividend (8.53%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: DHT's dividend (8.53%) is in the top 25% of dividend payers in the US market (3.73%)


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 high payout ratio (91.5%), DHT's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: DHT's dividends in 3 years are forecast to be covered by earnings (61.3% payout ratio).


Next Steps

Management

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

5.7yrs

Average management tenure


CEO

Trygve Munthe (57yo)

5.7yrs

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: Trygve's total compensation ($USD0.00) is below average for companies of similar size in the US market ($USD2.51M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Trygve Munthe
Co-Chief Executive Officer5.7yrsUS$1.93m0.71% $5.8m
Svein Harfjeld
Co-Chief Executive Officer5.7yrsUS$1.93m0.64% $5.2m
Laila Halvorsen
Chief Financial Officer1.7yrsno datano data
J. Eglin
Director of Chartering & Operations0yrsno datano data
Svenn Edvardsen
Technical Director9.2yrsUS$2.24mno data
Donald Puglisi
Managing Director of Puglisi & Associates0yrsno datano data

5.7yrs

Average Tenure

52yo

Average Age

Experienced Management: DHT's management team is seasoned and experienced (5.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Joseph Pyne
Independent Director4.4yrsno data0.099% $799.3k
Erik Lind
Chairman0yrsno data0.16% $1.3m
Jeremy Kramer
Independent Director2.7yrsno data0.25% $2.0m
Einar Steimler
Independent Director9.9yrsno data0.16% $1.3m
Susan Reedy
Director2.3yrsno datano data

3.5yrs

Average Tenure

64yo

Average Age

Experienced Board: DHT's board of directors are considered experienced (3.5 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.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

DHT Holdings, Inc.'s company bio, 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$808.975m
  • Shares outstanding: 146.82m
  • Website: https://www.dhtankers.com

Number of Employees


Location

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

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
DHTNYSE (New York Stock Exchange)YesCommon SharesUSUSDOct 2005
D8ENDB (Deutsche Boerse AG)YesCommon SharesDEEUROct 2005
DHT NBMV (Bolsa Mexicana de Valores)YesCommon SharesMXMXNOct 2005

Biography

DHT Holdings, Inc., through its subsidiaries, owns and operates crude oil tankers primarily in Oslo, Norway and Singapore. As of August 6, 2019, it had a fleet of 27 very large crude carriers with a capacity of 8,360,850 deadweight tons. The company was founded in 2005 and is headquartered in Hamilton, Bermuda. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/24 01:51
End of Day Share Price2020/02/21 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.