NasdaqCM:ESEA

Stock Analysis Report

Executive Summary

Euroseas Ltd. provides ocean-going transportation services worldwide.

Rewards

Revenue is forecast to grow 53.12% per year

Risk Analysis

Has less than 1 year of cash runway

Currently unprofitable and not forecast to become profitable over the next 3 years

Highly volatile share price over past 3 months

Shareholders have been diluted in the past year

+ 1 more risk


Snowflake Analysis

Limited growth with weak fundamentals.


Similar Companies

Performance Shipping

NasdaqGS:DCIX

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-10.2%

ESEA

0.08%

US Shipping

2.0%

US Market


1 Year Return

-39.5%

ESEA

19.1%

US Shipping

23.5%

US Market

Return vs Industry: ESEA underperformed the US Shipping industry which returned 26.2% over the past year.

Return vs Market: ESEA underperformed the US Market which returned 24.7% over the past year.


Shareholder returns

ESEAIndustryMarket
7 Day-10.2%0.08%2.0%
30 Day5.2%2.1%4.3%
90 Day-32.6%9.1%12.2%
1 Year-39.5%-39.5%21.5%19.1%26.1%23.5%
3 Year-38.0%-73.4%12.5%6.0%53.1%43.2%
5 Year-83.9%-93.1%-37.4%-43.9%75.5%56.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

1.21x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate ESEA's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate ESEA's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: ESEA is unprofitable, so we can't compare its PE Ratio to the Shipping industry average.

PE vs Market: ESEA is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate ESEA's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: ESEA is overvalued based on its PB Ratio (1.3x) compared to the US Shipping industry average (0.5x).


Next Steps

Future Growth

How is Euroseas forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

53.1%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if ESEA's forecast earnings growth is above the savings rate (1.7%).

Earnings vs Market: Insufficient data to determine if ESEA's earnings are forecast to grow faster than the US market

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

Revenue vs Market: ESEA's revenue (53.1% per year) is forecast to grow faster than the US market (7.5% per year).

High Growth Revenue: ESEA's revenue (53.1% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if ESEA's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Euroseas performed over the past 5 years?

41.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ESEA is currently unprofitable.

Growing Profit Margin: ESEA is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: ESEA is unprofitable, but has reduced losses over the past 5 years at a rate of 41.3% per year.

Accelerating Growth: Unable to compare ESEA's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: ESEA is unprofitable, making it difficult to compare its past year earnings growth to the Shipping industry (-48.2%).


Return on Equity

High ROE: ESEA has a negative Return on Equity (-6.54%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Euroseas's financial position?


Financial Position Analysis

Short Term Liabilities: ESEA's short term assets ($8.2M) do not cover its short term liabilities ($16.7M).

Long Term Liabilities: ESEA's short term assets ($8.2M) do not cover its long term liabilities ($48.5M).


Debt to Equity History and Analysis

Debt Level: ESEA's debt to equity ratio (257.1%) is considered high.

Reducing Debt: ESEA's debt to equity ratio has increased from 42% to 257.1% over the past 5 years.


Balance Sheet

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

Debt Coverage by Assets: ESEA's debt is not covered by short term assets (assets are 0.1x 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.

Stable Cash Runway: ESEA has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: ESEA has less than a year of cash runway if free cash flow continues to grow at historical rates of 25.5% each year.


Next Steps

Dividend

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


Dividend Yield vs Market

company0%marketbottom25%1.4%markettop25%3.7%industryaverage3.6%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate ESEA's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate ESEA's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ESEA's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ESEA's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: ESEA is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ESEA's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

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

14.7yrs

Average management tenure


CEO

Aristides Pittas (59yo)

14.7yrs

Tenure

0

Mr. Aristides J. Pittas has been the Chairman and Chief Executive Officer at Euroseas, Ltd. since May 5, 2005 and serves as its President. Mr. Pittas has been the President of Eurochart S.A., since 1997. H ...


Management Age and Tenure

14.7yrs

Average Tenure

59yo

Average Age

Experienced Management: ESEA's management team is seasoned and experienced (14.7 years average tenure).


Board Age and Tenure

14.3yrs

Average Tenure

59yo

Average Age

Experienced Board: ESEA's board of directors are seasoned and experienced ( 14.3 years average tenure).


Insider Trading

Insider Buying: ESEA insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$3,000,00009 Dec 19
Eurobulk Marine Holdings, Inc.
EntityCompany
Shares528,169
Max PriceUS$5.68
BuyUS$34,24009 Dec 19
Friends Investment Company Inc.
EntityCompany
Shares7,125
Max PriceUS$6.00
BuyUS$3,000,00019 Nov 19
Andreas Papathomas
EntityIndividual
Role
Member of the Board of Directors
Director
Shares528,169
Max PriceUS$5.68
BuyUS$14,600,00006 Sep 19
Containers Shareholders Trinity Ltd.
EntityCompany
Shares2,570,422.5
Max PriceUS$5.68
BuyUS$1,399,99906 Sep 19
Diamantis Shareholders Ltd.
EntityCompany
Shares246,478.75
Max PriceUS$5.68

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 41.2%.


Management Team

  • Aristides Pittas (59yo)

    Chairman

    • Tenure: 14.7yrs
  • Stephania Karmiri (51yo)

    Secretary

    • Tenure: 14.7yrs
  • Tasos Aslidis (59yo)

    CFO, Treasurer & Director

    • Tenure: 14.3yrs
  • Symeon Pariaros

    Chief Administrative Officer


    Board Members

    • George Taniskidis (58yo)

      Independent Director

      • Tenure: 14.7yrs
    • Aristides Pittas (67yo)

      Vice Chairman of the Board

      • Tenure: 14.3yrs
    • Aristides Pittas (59yo)

      Chairman

      • Tenure: 14.7yrs
    • Panos Kyriakopoulos (58yo)

      Independent Director

      • Tenure: 14.7yrs
    • Tasos Aslidis (59yo)

      CFO, Treasurer & Director

      • Tenure: 14.3yrs
    • Apostolos Tamvakakis (60yo)

      Independent Director

      • Tenure: 6.6yrs
    • Christian Donohue (51yo)

      Director

      • Tenure: 2.1yrs
    • Andreas Papathomas

      Director

      • Tenure: 0.2yrs

    Company Information

    Euroseas Ltd.'s company bio, employee growth, exchange listings and data sources


    Key Information

    • Name: Euroseas Ltd.
    • Ticker: ESEA
    • Exchange: NasdaqCM
    • Founded: 2005
    • Industry: Marine
    • Sector: Transportation
    • Market Cap: US$22.398m
    • Shares outstanding: 5.60m
    • Website: https://www.euroseas.gr

    Location

    • Euroseas Ltd.
    • 4 Messogiou & Evropis Street
    • Maroussi
    • 151 24
    • Greece

    Listings

    TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
    ESEANasdaqCM (Nasdaq Capital Market)YesCommon StockUSUSDMar 2006
    2LE1DB (Deutsche Boerse AG)YesCommon StockDEEURMar 2006

    Biography

    Euroseas Ltd. provides ocean-going transportation services worldwide. The company owns and operates containerships that transport dry and refrigerated containerized cargoes primarily, including manufactured products and perishables. As of November 21, 2019, its fleet consisted of 19 vessels, 14 feeders, and 5 intermediate containerships with a total cargo capacity of 51,083 twenty-foot equivalent. The company was founded in 2005 and is based in Maroussi, Greece. 


    Company Analysis and Financial Data Status

    All financial data provided by Standard & Poor's Capital IQ.
    DataLast Updated (UTC time)
    Company Analysis2020/01/17 23:53
    End of Day Share Price2020/01/17 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.