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Metrics | Range | Conclusion |
---|---|---|
Selected LTM Ps Multiple | 0.3x - 0.4x | 0.4x |
Selected Fwd Ps Multiple | 0.4x - 0.4x | 0.4x |
Fair Value | kr291.83 - kr322.55 | kr307.19 |
Upside | 29.0% - 42.6% | 35.8% |
Benchmarks | Ticker | Full Ticker |
---|---|---|
Pacific Basin Shipping Limited | - | DB:OYD |
Star Bulk Carriers Corp. | - | DB:4FAP |
Klaveness Combination Carriers ASA | - | OB:KCC |
Golden Ocean Group Limited | - | DB:KT31 |
Costamare Bulkers Holdings Limited | - | DUSE:CR1 |
Dampskibsselskabet Norden A/S | - | CPSE:DNORD |
Select Price / LTM Sales Ratio | ||||||||
Benchmark Companies | ||||||||
OYD | 4FAP | KCC | KT31 | CR1 | DNORD | |||
DB:OYD | DB:4FAP | OB:KCC | DB:KT31 | DUSE:CR1 | CPSE:DNORD | |||
Historical Sales Growth | ||||||||
5Y CAGR | 10.2% | 9.0% | 15.3% | 6.6% | NM- | 9.4% | ||
3Y CAGR | -4.6% | -3.9% | 12.0% | -6.9% | NM- | 4.4% | ||
Latest Twelve Months | 12.4% | 25.6% | -7.4% | -7.7% | 80.3% | 8.8% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 9.0% | 25.9% | 19.9% | 21.2% | -0.6% | 7.5% | ||
Prior Fiscal Year | 4.8% | 18.3% | 30.3% | 12.7% | -22.3% | 10.8% | ||
Latest Fiscal Year | 5.1% | 24.1% | 29.3% | 23.0% | -8.2% | 4.0% | ||
Latest Twelve Months | 5.1% | 18.6% | 23.1% | 13.2% | -8.2% | 3.4% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | 5.0x | 7.2x | 5.8x | 9.1x | -13418.1x | 6.9x | ||
Price / LTM Sales | 0.5x | 1.7x | 1.6x | 1.9x | 0.2x | 0.3x | ||
LTM P/E Ratio | 10.2x | 9.3x | 6.7x | 14.4x | -2.3x | 7.7x | ||
Low | Mid | High | ||||||
Benchmark LTM P/S Ratio | 0.2x | 1.6x | 1.9x | |||||
Historical LTM P/S Ratio | 0.2x | 0.3x | 0.4x | |||||
Selected Price / Sales Multiple | 0.3x | 0.4x | 0.4x | |||||
(x) LTM Sales | 3,924 | 3,924 | 3,924 | |||||
(=) Equity Value | 1,328 | 1,398 | 1,467 | |||||
(/) Shares Outstanding | 29.1 | 29.1 | 29.1 | |||||
Implied Value Range | 45.57 | 47.97 | 50.37 | |||||
FX Rate: USD/DKK | 0.2 | 0.2 | 0.2 | Market Price | ||||
Implied Value Range (Trading Cur) | 292.73 | 308.14 | 323.55 | 226.20 | ||||
Upside / (Downside) | 29.4% | 36.2% | 43.0% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | OYD | 4FAP | KCC | KT31 | CR1 | DNORD | |
Value of Common Equity | 1,300 | 2,159 | 402 | 1,638 | 222 | 1,026 | |
(/) Shares Outstanding | 5,114.2 | 115.6 | 59.3 | 199.4 | 24.2 | 29.1 | |
Implied Stock Price | 0.25 | 18.68 | 6.78 | 8.22 | 9.18 | 35.22 | |
FX Conversion Rate to Trading Currency | 1.16 | 1.16 | 0.10 | 1.16 | 1.16 | 0.16 | |
Implied Stock Price (Trading Cur) | 0.22 | 16.07 | 69.00 | 7.07 | 7.90 | 226.20 | |
Trading Currency | EUR | EUR | NOK | EUR | EUR | DKK | |
FX Rate to Reporting Currency | 1.16 | 1.16 | 0.10 | 1.16 | 1.16 | 0.16 |