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Seadrill Partners

NYSE:SDLP
Snowflake Description

Undervalued second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SDLP
NYSE
$53M
Market Cap
  1. Home
  2. US
  3. Energy
Company description

Seadrill Partners LLC owns and operates drillships, semi-submersible rigs, and tender rigs in the United States, Angola, Thailand, Canada, Equatorial Guinea, Nigeria, Indonesia, Ghana, and internationally. The last earnings update was 55 days ago. More info.


Add to Portfolio Compare Print
  • Seadrill Partners is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • Seadrill Partners has significant price volatility in the past 3 months.
SDLP Share Price and Events
7 Day Returns
-4.2%
NYSE:SDLP
2.3%
US Energy Services
1.6%
US Market
1 Year Returns
-84.3%
NYSE:SDLP
-44.4%
US Energy Services
2.6%
US Market
SDLP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Seadrill Partners (SDLP) -4.2% -21.1% -43.1% -84.3% -88.4% -98.1%
US Energy Services 2.3% -13.6% -13.2% -44.4% -44.1% -69.4%
US Market 1.6% -1.7% 2.1% 2.6% 38.5% 41.4%
1 Year Return vs Industry and Market
  • SDLP underperformed the Energy Services industry which returned -44.4% over the past year.
  • SDLP underperformed the Market in United States of America which returned 2.6% over the past year.
Price Volatility
SDLP
Industry
5yr Volatility vs Market

SDLP Value

 Is Seadrill Partners 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 Seadrill Partners 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 Seadrill Partners.

NYSE:SDLP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 16%
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:SDLP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6.7%
Energy Services Unlevered Beta Simply Wall St/ S&P Global 1.01
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.009 (1 + (1- 19%) (5745.08%))
32.476
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 * 6.65%)
16.03%

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

The calculations below outline how an intrinsic value for Seadrill Partners 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.

NYSE:SDLP DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 16.03%)
2019 387.82 Est @ -4.97% 334.24
2020 377.49 Est @ -2.66% 280.39
2021 373.55 Est @ -1.05% 239.13
2022 373.87 Est @ 0.09% 206.27
2023 377.16 Est @ 0.88% 179.34
2024 382.58 Est @ 1.44% 156.78
2025 389.55 Est @ 1.82% 137.59
2026 397.72 Est @ 2.1% 121.06
2027 406.81 Est @ 2.29% 106.72
2028 416.65 Est @ 2.42% 94.20
Present value of next 10 years cash flows $1,855.73
NYSE:SDLP DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $416.65 × (1 + 2.73%) ÷ (16.03% – 2.73%)
$3,218.21
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $3,218.21 ÷ (1 + 16.03%)10
$727.63
NYSE:SDLP Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,855.73 + $727.63
$2,583.36
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,583.36 / 91.82
$28.13
NYSE:SDLP Discount to Share Price
Calculation Result
Value per share (USD) From above. $28.13
Current discount Discount to share price of $0.58
= -1 x ($0.58 - $28.13) / $28.13
97.9%

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

Current Discount
Amount off the current price Seadrill Partners is available for.
Intrinsic value
>50%
Share price is $0.58 vs Future cash flow value of $28.13
Current Discount Checks
For Seadrill Partners to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Seadrill Partners's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Seadrill Partners's share price is below the future cash flow value, and 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 Seadrill Partners's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Seadrill Partners's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:SDLP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $0.61
NYSE:SDLP Share Price ** NYSE (2019-05-21) in USD $0.58
United States of America Energy Services Industry PE Ratio Median Figure of 31 Publicly-Listed Energy Services Companies 20.99x
United States of America Market PE Ratio Median Figure of 3,087 Publicly-Listed Companies 17.74x

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

** Primary Listing of Seadrill Partners.

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

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

= 0.58 ÷ 0.61

0.95x

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

  • Seadrill Partners is good value based on earnings compared to the US Energy Services industry average.
  • Seadrill Partners is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Seadrill Partners's expected growth come at a high price?
Raw Data
NYSE:SDLP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 0.95x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
United States of America Energy Services Industry PEG Ratio Median Figure of 27 Publicly-Listed Energy Services Companies 0.51x
United States of America Market PEG Ratio Median Figure of 2,123 Publicly-Listed Companies 1.53x

*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 Seadrill Partners, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Seadrill Partners's assets?
Raw Data
NYSE:SDLP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $14.48
NYSE:SDLP Share Price * NYSE (2019-05-21) in USD $0.58
United States of America Energy Services Industry PB Ratio Median Figure of 88 Publicly-Listed Energy Services Companies 0.93x
United States of America Market PB Ratio Median Figure of 5,202 Publicly-Listed Companies 1.84x
NYSE:SDLP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 0.58 ÷ 14.48

0.04x

* Primary Listing of Seadrill Partners.

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

  • Seadrill Partners is good value based on assets compared to the US Energy Services industry average.
X
Value checks
We assess Seadrill Partners'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 Energy Services 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 Energy Services industry average (and greater than 0)? (1 check)
  5. Seadrill Partners has a total score of 5/6, 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.

SDLP Future Performance

 How is Seadrill Partners expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Seadrill Partners has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
45.1%
Expected Energy Services industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Seadrill Partners expected to grow at an attractive rate?
  • Unable to compare Seadrill Partners's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Seadrill Partners's earnings growth to the United States of America market average as no estimate data is available.
  • Unable to compare Seadrill Partners's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NYSE:SDLP Future Growth Rates Data Sources
Data Point Source Value (per year)
United States of America Energy Services Industry Earnings Growth Rate Market Cap Weighted Average 45.1%
United States of America Energy Services Industry Revenue Growth Rate Market Cap Weighted Average 8.5%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.8%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*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:SDLP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:SDLP Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
NYSE:SDLP Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 802 434 56
2018-09-30 843 492 142
2018-06-30 911 330 197
2018-03-31 942 420 81
2017-12-31 1,015 476 141
2017-09-30 1,050 508 214
2017-06-30 1,100 727 251
2017-03-31 1,225 818 299
2016-12-31 1,369 874 279
2016-09-30 1,460 1,081 243
2016-06-30 1,581 902 181
2016-03-31 1,628 921 223

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Seadrill Partners is high growth as no earnings estimate data is available.
  • Unable to determine if Seadrill Partners is high growth as no revenue estimate data is available.
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:SDLP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Seadrill Partners Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:SDLP Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
NYSE:SDLP Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 0.61
2018-09-30 1.54
2018-06-30 2.15
2018-03-31 0.88
2017-12-31 1.54
2017-09-30 2.33
2017-06-30 2.73
2017-03-31 3.26
2016-12-31 3.03
2016-09-30 2.64
2016-06-30 1.97
2016-03-31 2.42

*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.
  • Unable to establish if Seadrill Partners will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Seadrill Partners is trading at Seadrill Partners'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. Seadrill Partners's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Energy companies here
  3. Seadrill Partners's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Seadrill Partners'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.
Seadrill Partners has a total score of 0/6, 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.

SDLP Past Performance

  How has Seadrill Partners 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 Seadrill Partners's growth in the last year to its industry (Energy Services).
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.
  • Seadrill Partners's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Seadrill Partners's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Seadrill Partners's 1-year earnings growth is negative, it can't be compared to the US Energy Services industry average.
Earnings and Revenue History
Seadrill Partners'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 Seadrill Partners Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:SDLP Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 802.10 56.10 45.80
2018-09-30 843.10 141.70 44.90
2018-06-30 910.50 197.20 40.90
2018-03-31 941.70 81.20 45.20
2017-12-31 1,014.80 141.20 44.80
2017-09-30 1,050.10 214.20 46.40
2017-06-30 1,100.00 251.10 47.60
2017-03-31 1,225.40 299.20 37.80
2016-12-31 1,368.70 278.50 41.20
2016-09-30 1,460.00 242.60 43.60
2016-06-30 1,581.00 181.00 47.60
2016-03-31 1,628.30 222.50 51.90
2015-12-31 1,617.00 224.60 51.60
2015-09-30 1,601.80 194.20 53.80
2015-06-30 1,501.40 226.70 54.30
2015-03-31 1,432.70 156.60 51.20
2014-12-31 1,302.70 138.20 51.00
2014-09-30 1,212.70 135.50 44.60
2014-06-30 1,145.30 60.70 48.90
2014-03-31 1,063.90 75.20 52.70
2013-12-31 1,052.90 86.60 49.60
2013-09-30 1,229.60 -68.40 57.40
2013-06-30 1,115.90 -6.90 46.30
2013-03-31 993.60 -8.70 40.20
2012-12-31 878.60 198.60 37.20
2012-09-30 544.25 159.60 22.95
2012-06-30 513.40 144.70 23.50

*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.
  • Seadrill Partners has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Seadrill Partners used its assets less efficiently than the US Energy Services industry average last year based on Return on Assets.
  • Seadrill Partners's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Seadrill Partners'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 Energy Services 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.
Seadrill Partners has a total score of 1/6, 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.

SDLP Health

 How is Seadrill Partners'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 Seadrill Partners's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Seadrill Partners is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Seadrill Partners's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Seadrill Partners'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 Seadrill Partners Company Filings, last reported 4 months ago.

NYSE:SDLP Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 2,714.20 3,059.10 841.60
2018-09-30 2,836.90 3,087.40 881.70
2018-06-30 2,870.50 3,261.70 805.90
2018-03-31 2,672.50 3,310.20 859.60
2017-12-31 2,701.80 3,396.80 848.60
2017-09-30 2,681.70 3,400.20 845.30
2017-06-30 2,644.30 3,535.40 919.10
2017-03-31 2,627.70 3,624.90 866.60
2016-12-31 2,535.80 3,655.80 770.00
2016-09-30 2,343.20 3,776.30 744.60
2016-06-30 2,204.40 3,821.20 450.10
2016-03-31 2,126.30 3,947.10 401.20
2015-12-31 2,097.40 3,924.40 321.20
2015-09-30 2,010.20 3,878.00 189.40
2015-06-30 2,090.70 3,965.50 199.90
2015-03-31 1,997.20 3,706.50 243.40
2014-12-31 2,044.30 3,628.10 248.70
2014-09-30 1,836.50 3,258.10 451.40
2014-06-30 2,066.60 3,279.20 523.30
2014-03-31 1,769.30 3,170.10 130.10
2013-12-31 1,254.60 2,360.50 132.10
2013-09-30 1,014.60 1,292.80 71.80
2013-06-30 1,027.80 1,331.80 50.00
2013-03-31 1,024.40 1,192.50 20.00
2012-12-31 1,424.40 2,076.00 21.20
2012-09-30
2012-06-30 936.80 1,237.70 2.90
  • Seadrill Partners's level of debt (112.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (188% vs 112.7% today).
  • Debt is not well covered by operating cash flow (14.2%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 0.8x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Seadrill Partners'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. Seadrill Partners has a total score of 2/6, 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.

SDLP Dividends

 What is Seadrill Partners'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
6.9%
Current annual income from Seadrill Partners dividends.
If you bought $2,000 of Seadrill Partners shares you are expected to receive $138 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?
  • Seadrill Partners's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • Seadrill Partners's dividend is above the markets top 25% of dividend payers in United States of America (3.72%).
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:SDLP 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 0 Analyst Estimates (S&P Global) See Below
United States of America Energy Services Industry Average Dividend Yield Market Cap Weighted Average of 17 Stocks 3.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2003 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 3.7%

Industry and Market average data is calculated daily.

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

NYSE:SDLP Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
NYSE:SDLP Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-28 0.040 5.554
2019-02-26 0.040 4.300
2018-11-20 0.400 26.496
2018-08-21 0.400 11.715
2018-05-24 0.400 11.538
2018-04-13 0.400 11.964
2018-02-22 0.400 13.387
2017-11-21 0.400 11.192
2017-08-17 0.400 11.054
2017-06-27 0.400 12.948
2017-05-24 0.400 12.164
2017-04-27 0.400 12.796
2017-02-28 0.400 12.490
2016-12-21 0.400 8.947
2016-11-22 0.400 10.388
2016-07-26 0.400 11.367
2016-06-30 1.000 17.343
2016-05-26 1.000 18.476
2015-12-18 1.000 30.337
2015-11-24 2.270 43.368
2015-10-05 2.270 21.186
2015-08-27 2.270 22.506
2015-07-02 2.270 19.655
2015-05-28 2.270 16.887
2015-02-26 2.270 16.543
2015-02-04 2.210 14.084
2014-11-26 2.210 14.383
2014-09-16 2.170 8.196
2014-08-27 2.170 6.532
2014-06-10 2.030 6.162
2014-05-28 2.030 6.126
2014-04-30 2.030 6.615
2014-02-25 1.780 5.883
2013-11-29 1.710 5.463
2013-11-25 1.710 5.435
2013-08-28 1.670 5.191
2013-05-28 1.550 5.328
2013-01-25 1.550 5.517

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

  • Seadrill Partners has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Seadrill Partners has only been paying a dividend for 6 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Seadrill Partners's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (2x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Seadrill Partners'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 Seadrill Partners afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Seadrill Partners has a total score of 3/6, see the detailed checks below.


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

SDLP Management

 What is the CEO of Seadrill Partners'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
Mark Morris
AGE 54
TENURE AS CEO 3.7 years
CEO Bio

Mr. Mark Morris has been the Chief Executive Officer at Seadrill Partners LLC since September 2015. Mr. Morris has been Chief Financial Officer of Seadrill Limited since September 1, 2015. He served as Chief Financial Officer at Rolls-Royce Group plc and held a number of roles in his 28 years with them. He served as Group Treasurer, Managing Director od RollsRoyce Capital and Treasurer of International Aero Engines, a Rolls-Royce Joint Venture.

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

Mark Morris

TITLE
Chief Executive Officer
AGE
54
TENURE
3.7 yrs

John Roche

TITLE
Chief Financial Officer
AGE
38
TENURE
3.9 yrs
Board of Directors Tenure

Average tenure and age of the Seadrill Partners board of directors in years:

4.3
Average Tenure
61.5
Average Age
  • The tenure for the Seadrill Partners board of directors is about average.
Board of Directors

Harald Thorstein

TITLE
Chairman of the Board
AGE
44

Bert Bekker

TITLE
Director
AGE
79
TENURE
6.7 yrs

Keith MacDonald

TITLE
Director
AGE
60
TENURE
4.6 yrs

Andy Cumming

TITLE
Director
AGE
63
TENURE
3.9 yrs

John Darlington

TITLE
Director
TENURE
0.4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Seadrill Partners'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. Seadrill Partners 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.

SDLP News

Simply Wall St News

Why Seadrill Partners LLC's (NYSE:SDLP) ROE Of 4.20% Does Not Tell The Whole Story

and looking to gauge the potential return on investment in Seadrill Partners LLC (NYSE:SDLP). … Seadrill Partners LLC (NYSE:SDLP) delivered an ROE of 4.20% over the past 12 months, which is relatively in-line with its industry average of 6.75% during the same period. … But what is more interesting is whether SDLP can sustain or improve on this level of return.

Simply Wall St -

Is Seadrill Partners LLC (NYSE:SDLP) A Buy At Its Current PE Ratio?

The content of this article will benefit those of you who are starting to educate yourself about investing in the stock market. … and want to begin learning the link between Seadrill Partners LLC (NYSE:SDLP)’s fundamentals and stock market performance. … While this makes SDLP appear like a great stock to buy, you might change your mind after I explain the assumptions behind the P/E ratio.

Simply Wall St -

Should You Be Concerned With Seadrill Partners LLC's (NYSE:SDLP) -49.30% Earnings Drop?

For Seadrill Partners, its most recent earnings (trailing twelve month) is US$141.20M, which, against the previous year's level, has dropped by a substantial -49.30%. … This shows that, in the recent industry expansion, Seadrill Partners has not been able to realize the gains unlike its average peer.What does this mean? … I suggest you continue to research Seadrill Partners to get a more holistic view of the stock by looking at: Financial Health: Is SDLP’s operations financially sustainable?

Simply Wall St -

May Top Undervalued Energy Stock

Energy companies, such as Seadrill Partners, trading at a market price below their true values are considered to be undervalued. … SDLP's stock is currently floating at around -88% lower than its actual value of $27.86, at a price of US$3.28, according to my discounted cash flow model. … CPLP's shares are currently trading at -75% below its true level of $12.33, at the market price of US$3.09, based on my discounted cash flow model.

Simply Wall St -

Top Undervalued Energy Stocks To Buy Now

Undervalued energy companies, such as Seadrill Partners and Natural Resource Partners, trade at a price less than their true values. … CPLP's stock is now trading at -76% under its real value of $12.8, at the market price of US$3.09, based on my discounted cash flow model. … Also, CPLP’s PE ratio is around 14.32x against its its index peer level of, 18x indicating that relative to its comparable company group, CPLP’s stock can be bought at a cheaper price.

Simply Wall St -

Seadrill Partners LLC (SDLP) Delivered A Better ROE Than The Industry, Here’s Why

See our latest analysis for SDLP Breaking down ROE — the mother of all ratios Return on Equity (ROE) is a measure of SDLP’s profit relative to its shareholders’ equity. … Return on Equity = Net Profit ÷ Shareholders Equity Returns are usually compared to costs to measure the efficiency of capital. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity NYSE:SDLP Last Perf Nov 21st 17 Essentially, profit margin shows how much money the company makes after paying for all its expenses.

Simply Wall St -

SDLP Company Info

Description

Seadrill Partners LLC owns and operates drillships, semi-submersible rigs, and tender rigs in the United States, Angola, Thailand, Canada, Equatorial Guinea, Nigeria, Indonesia, Ghana, and internationally. The company primarily serves various oil and gas companies. It operates a fleet of 11 drilling units, including 4 drillships, 4 semi-submersible rigs, and 3 tender rigs. The company was founded in 2012 and is headquartered in London, the United Kingdom.

Details
Name: Seadrill Partners LLC
SDLP
Exchange: NYSE
Founded: 2012
$53,247,345
91,821,600
Website: http://www.seadrillpartners.com
Address: Seadrill Partners LLC
Building 11,
2nd Floor,
London,
Greater London, W4 5YS,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE SDLP Common Units New York Stock Exchange US USD 19. Oct 2012
DB 8SD Common Units Deutsche Boerse AG DE EUR 19. Oct 2012
Number of employees
Current staff
Staff numbers
1,138
Seadrill Partners employees.
Industry
Oil and Gas Drilling
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/22 06:36
End of day share price update: 2019/05/21 00:00
Last estimates confirmation: 2018/02/22
Last earnings filing: 2019/03/28
Last earnings reported: 2018/12/31
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.