OTCPK:CKNH.F

Stock Analysis Report

Executive Summary

Clarkson PLC provides integrated shipping services worldwide.


Snowflake Analysis

Excellent balance sheet average dividend payer.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: CKNH.F has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

5.0%

CKNH.F

2.1%

US Shipping

-1.1%

US Market


1 Year Return

-9.0%

CKNH.F

-33.3%

US Shipping

-13.6%

US Market

Return vs Industry: CKNH.F exceeded the US Shipping industry which returned -31.2% over the past year.

Return vs Market: CKNH.F exceeded the US Market which returned -10.7% over the past year.


Shareholder returns

CKNH.FIndustryMarket
7 Day5.0%2.1%-1.1%
30 Day-13.1%-26.1%-17.8%
90 Day-27.3%-46.0%-22.5%
1 Year-9.0%-9.0%-32.0%-33.3%-11.9%-13.6%
3 Year-17.2%-17.2%-35.2%-38.8%12.1%4.9%
5 Year-16.2%-16.2%-66.6%-70.6%30.5%16.3%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

23.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CKNH.F ($29) is trading below our estimate of fair value ($36.68)

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


Price To Earnings Ratio

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

PE vs Market: CKNH.F 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 CKNH.F's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CKNH.F is overvalued based on its PB Ratio (1.9x) compared to the US Shipping industry average (0.3x).


Next Steps

Future Growth

How is Clarkson forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

56.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CKNH.F is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.7%).

Earnings vs Market: CKNH.F is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: CKNH.F's is expected to become profitable in the next 3 years.

Revenue vs Market: CKNH.F's revenue (3.7% per year) is forecast to grow slower than the US market (7.2% per year).

High Growth Revenue: CKNH.F's revenue (3.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CKNH.F's Return on Equity is forecast to be low in 3 years time (11.4%).


Next Steps

Past Performance

How has Clarkson performed over the past 5 years?

-0.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CKNH.F is currently unprofitable.

Growing Profit Margin: CKNH.F is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: CKNH.F is unprofitable, and losses have increased over the past 5 years at a rate of -0.3% per year.

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

Earnings vs Industry: CKNH.F is unprofitable, making it difficult to compare its past year earnings growth to the Shipping industry (-24.1%).


Return on Equity

High ROE: CKNH.F has a negative Return on Equity (-2.86%), as it is currently unprofitable.


Next Steps

Financial Health

How is Clarkson's financial position?


Financial Position Analysis

Short Term Liabilities: CKNH.F's short term assets (£269.5M) exceed its short term liabilities (£170.6M).

Long Term Liabilities: CKNH.F's short term assets (£269.5M) exceed its long term liabilities (£68.2M).


Debt to Equity History and Analysis

Debt Level: CKNH.F's debt to equity ratio (0.3%) is considered satisfactory.

Reducing Debt: CKNH.F's debt to equity ratio has reduced from 0.3% to 0.3% over the past 5 years.


Balance Sheet

Inventory Level: CKNH.F has a low level of unsold assets or inventory.

Debt Coverage by Assets: CKNH.F's debt is covered by short term assets (assets are 207.3x 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: CKNH.F has been profitable on average in the past, therefore cash runway is not a concern.

Forecast Cash Runway: CKNH.F has been profitable on average in the past, therefore cash runway is not a concern.


Next Steps

Dividend

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

3.47%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CKNH.F's dividend (3.38%) is higher than the bottom 25% of dividend payers in the US market (1.95%).

High Dividend: CKNH.F's dividend (3.38%) is low compared to the top 25% of dividend payers in the US market (5.37%).


Stability and Growth of Payments

Stable Dividend: CKNH.F's dividends per share have been stable in the past 10 years.

Growing Dividend: CKNH.F's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: CKNH.F is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: CKNH.F's dividends in 3 years are forecast to be covered by earnings (60.2% payout ratio).


Next Steps

Management

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

7.0yrs

Average management tenure


CEO

Andi Case (52yo)

11.83s

Tenure

UK£2,758,000

Compensation

Mr. Andi Case has been the Chief Executive Officer at Clarkson plc since June 17, 2008. Mr. Case served as an Interim Chief Executive of Clarkson plc from May 7, 2008 to June 2008 and served as its Chief O ...


CEO Compensation Analysis

Compensation vs Market: Andi's total compensation ($USD3.43M) is about average for companies of similar size in the US market ($USD3.17M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Andi Case
CEO & Director11.83yrsUK£2.76m1.67% £14.1m
Jeff Woyda
CFO, COO & Executive Director13.42yrsUK£959.00k0.26% £2.2m
Kate Hoare
Head of Public Relationsno datano datano data
John Beckwith
Head of Human Resourcesno datano datano data
Matt Russell
Head of Specialised Products5.92yrsno datano data
Richard Whittet
Managing Director of Specialised Productsno datano datano data
Janet Sykes
Head of Mediano datano datano data
Robert Stopford
Consultant of Maritime Economics and President of Clarkson Research Services8.08yrsUK£50.00kno data
Mike Cahill
Financial Controllerno datano datano data
Rachel Spencer
Company Secretary2yrsno datano data

7.0yrs

Average Tenure

58yo

Average Age

Experienced Management: CKNH.F's management team is seasoned and experienced (7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Andi Case
CEO & Director11.83yrsUK£2.76m1.67% £14.1m
Jeff Woyda
CFO, COO & Executive Director13.42yrsUK£959.00k0.26% £2.2m
Peter Backhouse
Senior Independent Director6.42yrsUK£76.00k0.046% £391.3k
Birger Nergaard
Independent Non-Executive Director5.17yrsUK£57.00k0.10% £862.8k
Timothy John Miller
Independent Non-Executive Director1.92yrsUK£47.00kno data
Marie-Louise Clayton
Independent Non-Executive Director3.25yrsUK£76.00k0.0036% £30.8k
William Gennydd Thomas
Non-Executive Chairman1.17yrsno data0.0069% £58.2k
Heike Truol
Non-Executive Director0.25yrno datano data

4.2yrs

Average Tenure

59yo

Average Age

Experienced Board: CKNH.F's board of directors are considered experienced (4.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

Clarkson PLC's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Clarkson PLC
  • Ticker: CKNH.F
  • Exchange: OTCPK
  • Founded: 1852
  • Industry: Marine
  • Sector: Transportation
  • Market Cap: UK£679.213m
  • Listing Market Cap: UK£845.623m
  • Shares outstanding: 30.25m
  • Website: https://www.clarksons.com

Number of Employees


Location

  • Clarkson PLC
  • Commodity Quay
  • St. Katharine Docks
  • London
  • Greater London
  • E1W 1BF
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CKNH.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
CKNLSE (London Stock Exchange)YesOrdinary SharesGBGBPJan 1992
CKNlBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBGBPJan 1992
1DHDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992

Biography

Clarkson PLC provides integrated shipping services worldwide. It operates through four segments: Broking, Financial, Support, and Research. The Broking segment includes services provided to ship owners and charterers in the transportation of various cargoes by sea; and to buyers and sellers/yards related to sale and purchase transactions, as well as arranges principal-to-principal cash-settled contracts for differences based upon standardized freight contracts. This segment deals in containers, dry cargo, deep sea tankers, liquefied petroleum gas and ammonia, liquefied natural gas, offshore, petrochemical gases, renewables, shortsea, specialized products, sale and purchase, and PCTC markets; and towage, salvage, and transportation markets. The Financial segment offers investment banking services for maritime, oil services, and natural resources sectors; structured asset finance services and projects in the shipping, offshore, and real estate sectors; and freight derivative products. This segment also provides equity and fixed income sales and trading; equity and credit research; corporate access and corporate finance services, including advising clients on various equity and debt capital markets, and M&A transactions. The Support segment offers port and agency, freight forwarding, supplies, and tools for the marine and offshore industries. The Research segment provides shipping-related information and publications; and collects, validates, analyses, and manages data to inform various business decisions. This segment offers Web products, such as Shipping Intelligence Network and World Fleet Register to printed publications, including Shipping Intelligence Weekly and Offshore Intelligence Monthly; data and analysis services for IPO and bond issues; customer service contracts; and valuations to owners and the financial community. The company also provides property related services. Clarkson PLC was founded in 1852 and is headquartered in London, the United Kingdom. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/02 03:11
End of Day Share Price2020/04/01 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.