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Ship Finance International

NYSE:SFL
Snowflake Description

Moderate growth potential second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SFL
NYSE
$1B
Market Cap
  1. Home
  2. US
  3. Transportation
Company description

Ship Finance International Limited owns and operates vessels and offshore related assets primarily in Bermuda, Cyprus, Malta, Liberia, Norway, the United Kingdom, and the Marshall Islands. The last earnings update was 55 days ago. More info.


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SFL Share Price and Events
7 Day Returns
4%
NYSE:SFL
0.6%
US Shipping
-0.7%
US Market
1 Year Returns
-9.8%
NYSE:SFL
-13.4%
US Shipping
3%
US Market
SFL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Ship Finance International (SFL) 4% 2.5% 3.8% -9.8% -15.2% -28.9%
US Shipping 0.6% 0.7% 5.6% -13.4% -6.1% -59.3%
US Market -0.7% -2% 2.4% 3% 39.2% 42%
1 Year Return vs Industry and Market
  • SFL outperformed the Shipping industry which returned -13.4% over the past year.
  • SFL underperformed the Market in United States of America which returned 3% over the past year.
Price Volatility
SFL
Industry
5yr Volatility vs Market

Value

 Is Ship Finance International 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 Ship Finance International 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 Ship Finance International.

NYSE:SFL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.5%
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:SFL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Shipping Unlevered Beta Simply Wall St/ S&P Global 0.69
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.694 (1 + (1- 21%) (183.21%))
1.468
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.47
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.468 * 5.96%)
11.48%

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

The calculations below outline how an intrinsic value for Ship Finance International 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:SFL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 11.48%)
2019 234.00 Analyst x1 209.90
2020 297.00 Analyst x2 238.97
2021 214.00 Analyst x1 154.46
2022 167.06 Est @ -21.94% 108.16
2023 142.77 Est @ -14.54% 82.91
2024 129.42 Est @ -9.36% 67.42
2025 122.00 Est @ -5.73% 57.01
2026 118.10 Est @ -3.19% 49.50
2027 116.43 Est @ -1.42% 43.78
2028 116.23 Est @ -0.17% 39.20
Present value of next 10 years cash flows $1,051.30
NYSE:SFL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $116.23 × (1 + 2.73%) ÷ (11.48% – 2.73%)
$1,364.36
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $1,364.36 ÷ (1 + 11.48%)10
$460.14
NYSE:SFL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,051.30 + $460.14
$1,511.44
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,511.44 / 111.38
$13.57
NYSE:SFL Discount to Share Price
Calculation Result
Value per share (USD) From above. $13.57
Current discount Discount to share price of $13.04
= -1 x ($13.04 - $13.57) / $13.57
3.9%

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

Current Discount
Amount off the current price Ship Finance International is available for.
Intrinsic value
4%
Share price is $13.04 vs Future cash flow value of $13.57
Current Discount Checks
For Ship Finance International to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Ship Finance International's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Ship Finance International's share price is below the future cash flow value, but not 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 Ship Finance International's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Ship Finance International's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:SFL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $0.70
NYSE:SFL Share Price ** NYSE (2019-05-17) in USD $13.04
United States of America Shipping Industry PE Ratio Median Figure of 15 Publicly-Listed Shipping Companies 18.61x
United States of America Market PE Ratio Median Figure of 3,088 Publicly-Listed Companies 17.89x

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

** Primary Listing of Ship Finance International.

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

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

= 13.04 ÷ 0.70

18.76x

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

  • Ship Finance International is overvalued based on earnings compared to the US Shipping industry average.
  • Ship Finance International is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Ship Finance International's expected growth come at a high price?
Raw Data
NYSE:SFL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 18.76x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
22.6%per year
United States of America Shipping Industry PEG Ratio Median Figure of 12 Publicly-Listed Shipping Companies 0.35x
United States of America Market PEG Ratio Median Figure of 2,117 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

NYSE:SFL PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 18.76x ÷ 22.6%

0.83x

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

  • Ship Finance International is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Ship Finance International's assets?
Raw Data
NYSE:SFL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $10.60
NYSE:SFL Share Price * NYSE (2019-05-17) in USD $13.04
United States of America Shipping Industry PB Ratio Median Figure of 24 Publicly-Listed Shipping Companies 0.5x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
NYSE:SFL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 13.04 ÷ 10.60

1.23x

* Primary Listing of Ship Finance International.

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

  • Ship Finance International is overvalued based on assets compared to the US Shipping industry average.
X
Value checks
We assess Ship Finance International'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 Shipping 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 Shipping industry average (and greater than 0)? (1 check)
  5. Ship Finance International has a total score of 1/6, 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.

Future Performance

 How is Ship Finance International expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

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
22.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Ship Finance International expected to grow at an attractive rate?
  • Ship Finance International's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Ship Finance International's earnings growth is expected to exceed the United States of America market average.
  • Ship Finance International's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:SFL Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:SFL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 22.6%
NYSE:SFL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 3.8%
United States of America Shipping Industry Earnings Growth Rate Market Cap Weighted Average 25.7%
United States of America Shipping Industry Revenue Growth Rate Market Cap Weighted Average 2.7%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
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:SFL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:SFL Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 240
2022-12-31 243
2021-12-31 453 203 163 2
2020-12-31 470 243 122 5
2019-12-31 463 200 108 3
NYSE:SFL Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 417 201 74
2018-09-30 394 191 90
2018-06-30 378 171 89
2018-03-31 375 182 94
2017-12-31 379 178 101
2017-09-30 382 183 110
2017-06-30 382 207 113
2017-03-31 392 233 132
2016-12-31 410 230 146
2016-09-30 428 269 172
2016-06-30 444 278 185
2016-03-31 431 235 215

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Ship Finance International's earnings are expected to grow significantly at over 20% yearly.
  • Ship Finance International's revenue is expected to grow by 3.8% yearly, however this is not considered high growth (20% yearly).
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:SFL 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 5 Analyst Estimates (S&P Global) See Below

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

NYSE:SFL Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.96 1.50 0.41 2.00
2020-12-31 1.09 1.36 0.61 4.00
2019-12-31 0.81 0.97 0.65 2.00
NYSE:SFL Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 0.70
2018-09-30 0.86
2018-06-30 0.88
2018-03-31 0.95
2017-12-31 1.06
2017-09-30 1.17
2017-06-30 1.21
2017-03-31 1.41
2016-12-31 1.57
2016-09-30 1.84
2016-06-30 1.98
2016-03-31 2.30

*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.
  • Ship Finance International is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Ship Finance International'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.
Ship Finance International has a total score of 3/6, 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.

Past Performance

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

NYSE:SFL Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 416.84 73.62 9.17
2018-09-30 394.42 90.24 8.84
2018-06-30 377.58 89.24 8.58
2018-03-31 374.66 93.58 7.81
2017-12-31 379.13 101.21 7.43
2017-09-30 382.47 109.65 7.76
2017-06-30 382.10 113.19 8.29
2017-03-31 391.64 131.89 8.44
2016-12-31 410.36 146.41 9.07
2016-09-30 428.33 172.17 8.18
2016-06-30 443.71 185.39 7.38
2016-03-31 431.31 214.52 7.69
2015-12-31 404.84 200.83 6.74
2015-09-30 374.94 171.68 7.35
2015-06-30 349.18 160.78 7.74
2015-03-31 329.81 115.19 7.26
2014-12-31 323.04 122.82 7.61
2014-09-30 306.84 115.98 7.69
2014-06-30 292.02 94.86 7.66
2014-03-31 285.66 97.56 7.77
2013-12-31 268.80 89.21 7.55
2013-09-30 274.57 122.00 8.04
2013-06-30 310.56 143.10 8.39
2013-03-31 312.48 179.26 8.71
2012-12-31 317.83 185.84 8.94
2012-09-30 317.91 164.89 8.50
2012-06-30 288.92 157.78 8.77

*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.
  • Ship Finance International has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Ship Finance International used its assets more efficiently than the US Shipping industry average last year based on Return on Assets.
  • Ship Finance International's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Ship Finance International'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 Shipping 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.
Ship Finance International 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.

Health

 How is Ship Finance International'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 Ship Finance International's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Ship Finance International is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Ship Finance International's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Ship Finance International'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 0.2x 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 Ship Finance International Company Filings, last reported 4 months ago.

NYSE:SFL Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,180.03 2,660.78 303.85
2018-09-30 1,231.71 2,312.26 271.16
2018-06-30 1,241.82 2,183.87 258.51
2018-03-31 1,193.86 1,700.87 235.16
2017-12-31 1,195.00 1,792.74 246.96
2017-09-30 1,102.08 2,018.55 361.74
2017-06-30 1,098.18 2,001.24 359.88
2017-03-31 1,131.25 1,879.00 186.37
2016-12-31 1,134.10 1,776.04 180.98
2016-09-30 1,131.52 1,666.99 179.64
2016-06-30 1,135.30 1,746.37 201.99
2016-03-31 1,149.46 1,718.97 198.32
2015-12-31 1,241.81 1,747.85 269.77
2015-09-30 1,185.05 1,893.19 100.78
2015-06-30 1,199.43 1,549.00 109.99
2015-03-31 1,158.60 1,643.54 118.85
2014-12-31 1,153.49 1,839.66 124.47
2014-09-30 1,182.76 1,844.39 94.92
2014-06-30 1,176.02 1,792.56 111.37
2014-03-31 1,193.55 1,752.22 97.64
2013-12-31 1,191.93 1,799.07 135.57
2013-09-30 1,189.15 1,837.13 126.40
2013-06-30 1,209.24 1,820.84 107.71
2013-03-31 1,061.93 1,781.43 121.31
2012-12-31 994.77 1,917.08 116.20
2012-09-30 909.38 1,942.22 107.18
2012-06-30 907.46 1,988.45 140.45
  • Ship Finance International's level of debt (225.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (150.9% vs 225.5% today).
  • Debt is not well covered by operating cash flow (7.6%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.1x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Ship Finance International'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. Ship Finance International has a total score of 1/6, 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.

Dividends

 What is Ship Finance International'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
10.74%
Current annual income from Ship Finance International dividends. Estimated to be 10.84% next year.
If you bought $2,000 of Ship Finance International shares you are expected to receive $215 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?
  • Ship Finance International's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Ship Finance International's dividend is above the markets top 25% of dividend payers in United States of America (3.69%).
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:SFL 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 5 Analyst Estimates (S&P Global) See Below
United States of America Shipping Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 5.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2000 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 1.4%
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:SFL Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 1.40 1.00
2022-12-31 1.40 1.00
2021-12-31 1.45 2.00
2020-12-31 1.41 6.00
2019-12-31 1.41 6.00
NYSE:SFL Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-26 1.400 11.141
2018-11-20 1.400 11.684
2018-08-22 1.400 10.519
2018-07-18 1.400 9.574
2018-05-31 1.400 9.386
2018-03-26 1.400 9.740
2018-02-27 1.400 9.660
2017-11-22 1.400 9.183
2017-10-06 1.400 9.409
2017-08-30 1.400 10.005
2017-06-02 1.800 13.463
2017-04-13 1.800 13.010
2017-02-28 1.800 12.462
2016-12-20 1.800 12.029
2016-11-29 1.800 12.377
2016-09-19 1.800 13.000
2016-08-31 1.800 12.120
2016-06-23 1.800 12.007
2016-05-31 1.800 11.829
2016-04-01 1.800 12.175
2016-02-29 1.800 12.982
2015-12-10 1.800 13.120
2015-11-24 1.800 10.669
2015-09-08 1.760 10.489
2015-08-26 1.760 10.681
2015-05-29 1.720 10.406
2015-04-09 1.680 10.778
2015-02-26 1.680 11.240
2014-11-25 1.640 11.075
2014-08-28 1.640 9.465
2014-05-27 1.640 8.843
2014-02-27 1.600 9.016
2013-12-04 1.560 9.387
2013-04-17 1.560 9.683
2013-02-25 1.560 9.213
2012-08-28 1.560 9.642
2012-05-24 1.560 10.233
2012-02-17 1.200 8.724
2011-11-23 1.560 14.705
2011-08-25 1.560 11.322
2011-05-23 1.560 9.717
2011-02-18 1.520 7.543
2010-11-23 1.440 6.765
2010-11-15 1.400 6.465
2010-08-26 1.400 7.185
2010-05-24 1.320 7.138
2010-02-26 1.200 6.383
2009-11-27 1.200 8.336
2009-08-20 1.200 9.776

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Ship Finance International's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (1x coverage).
X
Income/ dividend checks
We assess Ship Finance International'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 Ship Finance International afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Ship Finance International 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.

Management

 What is the CEO of Ship Finance International'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
Ole Hjertaker
COMPENSATION $0
AGE 51
TENURE AS CEO 9.8 years
CEO Bio

Mr. Ole Bjarte Hjertaker has been the Chief Executive Officer of SFL Management AS, a subsidiary of Ship Finance International Limited since July 1, 2009. Mr. Hjertaker served as the Chief Financial Officer of Ship Finance Management AS from September 2006 to June 2009. He served as an Interim Chief Financial Officer of Ship Finance Management AS since July 2009 until January 2011. He served as the Chief Financial Officer of Ship Finance International Limited from 2006 to July 1, 2009. Prior to joining Ship Finance, he served as Director of the Corporate Finance Division at DnB NOR Markets. He has corporate and investment banking experience, mainly within the Maritime/Transportation industries. He has been a Director of Global Rig Company AS since December 13, 2015. Mr. Hjertaker holds a Master of Science degree from the Norwegian School of Economics and Business Administration. Mr. Hjertaker also serves as a director of NorAm Drilling Company AS, or NorAm Drilling.

CEO Compensation
  • Insufficient data for Ole to compare compensation growth.
  • Ole's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Ship Finance International management team in years:

9.3
Average Tenure
46
Average Age
  • The average tenure for the Ship Finance International management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Ole Hjertaker

TITLE
Chief Executive Officer of SFL Management AS
AGE
51
TENURE
9.8 yrs

Aksel Olesen

TITLE
Chief Financial Officer of SFL Management AS
AGE
41
TENURE
0.3 yrs

Trym Sjølie

TITLE
Chief Operating Officer
TENURE
1.3 yrs

Thecla Panagides

TITLE
Chief Accounting Officer
TENURE
8.8 yrs

André Reppen

TITLE
Senior Vice President of Ship Finance Management AS
AGE
36
TENURE
10.9 yrs

Georgina Sousa

TITLE
Secretary
AGE
67
TENURE
12.4 yrs
Board of Directors Tenure

Average tenure and age of the Ship Finance International board of directors in years:

3.2
Average Tenure
52.5
Average Age
  • The tenure for the Ship Finance International board of directors is about average.
Board of Directors

James O'Shaughnessy

TITLE
Director
AGE
54
TENURE
0.7 yrs

Kate Blankenship

TITLE
Independent Director
AGE
53
TENURE
15.6 yrs

Harald Thorstein

TITLE
Director
AGE
44
TENURE
7.7 yrs

Bert Bekker

TITLE
Director
AGE
79
TENURE
4 yrs

Gary Vogel

TITLE
Director
AGE
52
TENURE
2.4 yrs

Keesjan Cordia

TITLE
Director
AGE
44
TENURE
0.7 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 Ship Finance International'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. Ship Finance International 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.

News

Simply Wall St News

Ship Finance International Limited (NYSE:SFL): Is Growth Priced In?

Ship Finance International is poised for significantly high earnings growth in the near future. … SFL is trading at price-to-earnings (PE) ratio of 18.37x, which suggests that Ship Finance International is undervalued based on its latest annual earnings update compared to the Shipping average of 18.37x , and overvalued compared to the US market average ratio of 18.04x. … A PE ratio of 18.37x and expected year-on-year earnings growth of 23% give Ship Finance International a low PEG ratio of 0.81x.

Simply Wall St -

Does Ship Finance International Limited (NYSE:SFL) Have A Particularly Volatile Share Price?

If you're interested in Ship Finance International Limited (NYSE:SFL), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility).

Simply Wall St -

What Type Of Shareholder Owns Ship Finance International Limited's (NYSE:SFL)?

A look at the shareholders of Ship Finance International Limited (NYSE:SFL) can tell us which group is most powerful. … Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. … Ship Finance International isn't enormous, but it's not particularly small either.

Simply Wall St -

Will Ship Finance International Limited's (NYSE:SFL) Earnings Grow In The Year Ahead?

As Ship Finance International Limited (NYSE:SFL) released its earnings announcement on 31 December 2018, … with earnings expected to grow by a high double-digit of 65% in the upcoming year,

Simply Wall St -

Is Now An Opportune Moment To Examine Ship Finance International Limited (NYSE:SFL)?

Ship Finance International Limited (NYSE:SFL), which is in the shipping business, and is based in Bermuda,. … With many analysts covering the stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price? … Let’s examine Ship Finance International’s valuation and outlook in more detail to determine if there’s still a bargain opportunity

Simply Wall St -

Does Ship Finance International Limited’s (NYSE:SFL) ROCE Reflect Well On The Business?

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … What is Return On Capital Employed (ROCE)? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

What Do Analysts Think About Ship Finance International Limited's (NYSE:SFL) Earnings Trajectory?

Ship Finance International Limited's (NYSE:SFL) latest earnings announcement in December 2018a

Simply Wall St -

Here's What Ship Finance International Limited's (NYSE:SFL) P/E Is Telling Us

We'll look at Ship Finance International Limited's (NYSE:SFL) P/E ratio and reflect on what it tells us about the company's share price. … Based on the last twelve months, Ship Finance International's P/E ratio is 14.31. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Does The Ship Finance International Limited (NYSE:SFL) Share Price Fall With The Market?

Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market. … In comparison a stock with a beta of over one tends to be move in a similar direction to the market in the long term, but with greater changes in price.

Simply Wall St -

An Intrinsic Calculation For Ship Finance International Limited (NYSE:SFL) Shows It's 33.78% Undervalued

How far off is Ship Finance International Limited (NYSE:SFL) from its intrinsic value? … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model … If you are reading this and its not January 2019 then I highly recommend you check out the latest calculation for Ship Finance International by following the link below

Simply Wall St -

Company Info

Description

Ship Finance International Limited owns and operates vessels and offshore related assets primarily in Bermuda, Cyprus, Malta, Liberia, Norway, the United Kingdom, and the Marshall Islands. It is also involved in the charter, purchase, and sale of assets. In addition, the company operates in various sectors of the shipping and offshore industry, including oil transportation, dry bulk shipments, chemical transportation, oil product transportation, container transportation, car transportation, drilling rigs, and offshore support vessels. As of February 26, 2019, it had a fleet of approximately 80 vessels, including tankers, bulkers, container vessels, and offshore assets. The company was founded in 2003 and is based in Hamilton, Bermuda.

Details
Name: Ship Finance International Limited
SFL
Exchange: NYSE
Founded: 2003
$1,452,336,846
111,375,525
Website: http://www.shipfinance.bm
Address: Ship Finance International Limited
Par-la-Ville Place,
14 Par-la-Ville Road,
Hamilton,
HM 08,
Bermuda
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE SFL Common Shares New York Stock Exchange US USD 14. Jun 2004
DB UG6 Common Shares Deutsche Boerse AG DE EUR 14. Jun 2004
Number of employees
Current staff
Staff numbers
11
Ship Finance International employees.
Industry
Marine
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 01:56
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/04/11
Last earnings filing: 2019/03/26
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.