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Metrics | Range | Conclusion |
---|---|---|
Selected LTM Ps Multiple | 1.8x - 2.0x | 1.9x |
Selected Fwd Ps Multiple | 3.2x - 3.5x | 3.3x |
Fair Value | kr14.03 - kr15.51 | kr14.77 |
Upside | -1.2% - 9.2% | 4.0% |
Benchmarks | Ticker | Full Ticker |
---|---|---|
Prosafe SE | - | OB:PRS |
Aquila Holdings ASA | - | OB:AQUIL |
Archer Limited | - | OB:ARCH |
Electromagnetic Geoservices ASA | - | OB:EMGS |
NorAm Drilling AS | - | OB:NORAM |
Deep Value Driller AS | - | OB:DVD |
Select Price / LTM Sales Ratio | ||||||||
Benchmark Companies | ||||||||
PRS | AQUIL | ARCH | EMGS | NORAM | DVD | |||
OB:PRS | OB:AQUIL | OB:ARCH | OB:EMGS | OB:NORAM | OB:DVD | |||
Historical Sales Growth | ||||||||
5Y CAGR | -9.1% | -50.3% | 5.6% | -22.7% | 4.6% | NM- | ||
3Y CAGR | -0.1% | -55.5% | 10.5% | -5.0% | 27.0% | NM- | ||
Latest Twelve Months | 45.6% | -73.3% | 12.2% | 209.6% | -12.8% | 354.5% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | -168.5% | -734.5% | -1.8% | -30.7% | -9.2% | -363.3% | ||
Prior Fiscal Year | -70.6% | -101.3% | -2.9% | -102.4% | 16.3% | -192.4% | ||
Latest Fiscal Year | -29.9% | -502.2% | -2.3% | 11.4% | 2.2% | 38.2% | ||
Latest Twelve Months | -29.9% | -502.2% | -2.3% | 11.4% | 2.2% | 38.2% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | 17.3x | -8.4x | 4.6x | 3.7x | 4.3x | 4.7x | ||
Price / LTM Sales | 0.1x | 7.1x | 0.2x | 1.0x | 1.1x | 2.3x | ||
LTM P/E Ratio | -0.3x | -1.4x | -6.9x | 8.8x | 49.9x | 5.9x | ||
Low | Mid | High | ||||||
Benchmark LTM P/S Ratio | 0.1x | 1.0x | 7.1x | |||||
Historical LTM P/S Ratio | 2.3x | 68.4x | 134.6x | |||||
Selected Price / Sales Multiple | 1.8x | 1.9x | 2.0x | |||||
(x) LTM Sales | 57 | 57 | 57 | |||||
(=) Equity Value | 104 | 110 | 115 | |||||
(/) Shares Outstanding | 93.2 | 93.2 | 93.2 | |||||
Implied Value Range | 1.12 | 1.18 | 1.24 | |||||
FX Rate: USD/NOK | 0.1 | 0.1 | 0.1 | Market Price | ||||
Implied Value Range (Trading Cur) | 11.85 | 12.48 | 13.10 | 14.20 | ||||
Upside / (Downside) | -16.5% | -12.1% | -7.8% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | PRS | AQUIL | ARCH | EMGS | NORAM | DVD | |
Value of Common Equity | 13 | 15 | 174 | 25 | 110 | 125 | |
(/) Shares Outstanding | 17.9 | 215.8 | 90.5 | 131.0 | 43.3 | 93.2 | |
Implied Stock Price | 0.74 | 0.07 | 1.92 | 0.19 | 2.53 | 1.34 | |
FX Conversion Rate to Trading Currency | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | |
Implied Stock Price (Trading Cur) | 7.78 | 0.76 | 20.35 | 1.99 | 26.77 | 14.20 | |
Trading Currency | NOK | NOK | NOK | NOK | NOK | NOK | |
FX Rate to Reporting Currency | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 |