BELSHIPS ASA (BELCO.OL) Stock Fundamental Analysis
Europe - Euronext Oslo - OSL:BELCO - NO0003094104 - Common Stock
20.35 NOK
0 (0%)
Overall BELCO gets a fundamental rating of 5 out of 10. We evaluated BELCO against 17 industry peers in the Marine Transportation industry. While BELCO is still in line with the averages on profitability rating, there are concerns on its financial health. BELCO has a correct valuation and a medium growth rate.
1. Profitability
1.1 Basic Checks
In the past year BELCO was profitable.
In the past year BELCO had a positive cash flow from operations.
BELCO had positive earnings in 4 of the past 5 years.
Each year in the past 5 years BELCO had a positive operating cash flow.
1.2 Ratios
BELCO has a worse Return On Assets (7.06%) than 63.16% of its industry peers.
The Return On Equity of BELCO (22.99%) is comparable to the rest of the industry.
BELCO has a Return On Invested Capital (6.77%) which is in line with its industry peers.
BELCO had an Average Return On Invested Capital over the past 3 years of 10.05%. This is in line with the industry average of 8.90%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 7.06% | ||
| ROE | 22.99% | ||
| ROIC | 6.77% |
ROA(3y)9.96%
ROA(5y)7.73%
ROE(3y)36.04%
ROE(5y)27.47%
ROIC(3y)10.05%
ROIC(5y)N/A
1.3 Margins
BELCO has a worse Profit Margin (14.01%) than 63.16% of its industry peers.
In the last couple of years the Profit Margin of BELCO has grown nicely.
BELCO's Operating Margin of 16.15% is in line compared to the rest of the industry. BELCO outperforms 57.89% of its industry peers.
BELCO's Operating Margin has improved in the last couple of years.
BELCO has a better Gross Margin (76.45%) than 94.74% of its industry peers.
In the last couple of years the Gross Margin of BELCO has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 16.15% | ||
| PM (TTM) | 14.01% | ||
| GM | 76.45% |
OM growth 3Y0.15%
OM growth 5Y18.78%
PM growth 3Y3.21%
PM growth 5Y45.38%
GM growth 3Y-1.41%
GM growth 5Y-1.22%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), BELCO is creating some value.
The number of shares outstanding for BELCO remains at a similar level compared to 1 year ago.
The number of shares outstanding for BELCO has been increased compared to 5 years ago.
BELCO has a worse debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 1.60, we must say that BELCO is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of BELCO (1.60) is worse than 68.42% of its industry peers.
BELCO has a debt to FCF ratio of 9.10. This is a negative value and a sign of low solvency as BELCO would need 9.10 years to pay back of all of its debts.
BELCO has a worse Debt to FCF ratio (9.10) than 68.42% of its industry peers.
A Debt/Equity ratio of 1.98 is on the high side and indicates that BELCO has dependencies on debt financing.
BELCO has a worse Debt to Equity ratio (1.98) than 89.47% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.98 | ||
| Debt/FCF | 9.1 | ||
| Altman-Z | 1.6 |
ROIC/WACC0.92
WACC7.39%
2.3 Liquidity
A Current Ratio of 2.30 indicates that BELCO has no problem at all paying its short term obligations.
With a decent Current ratio value of 2.30, BELCO is doing good in the industry, outperforming 78.95% of the companies in the same industry.
BELCO has a Quick Ratio of 2.19. This indicates that BELCO is financially healthy and has no problem in meeting its short term obligations.
BELCO has a better Quick ratio (2.19) than 78.95% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.3 | ||
| Quick Ratio | 2.19 |
3. Growth
3.1 Past
BELCO shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -33.33%.
The Earnings Per Share has been growing by 51.57% on average over the past years. This is a very strong growth
Looking at the last year, BELCO shows a very negative growth in Revenue. The Revenue has decreased by -26.78% in the last year.
Measured over the past years, BELCO shows a very strong growth in Revenue. The Revenue has been growing by 20.77% on average per year.
EPS 1Y (TTM)-33.33%
EPS 3Y-20.18%
EPS 5Y51.57%
EPS Q2Q%-66.67%
Revenue 1Y (TTM)-26.78%
Revenue growth 3Y-20.16%
Revenue growth 5Y20.77%
Sales Q2Q%-40.5%
3.2 Future
Based on estimates for the next years, BELCO will show a very strong growth in Earnings Per Share. The EPS will grow by 31.02% on average per year.
The Revenue is expected to grow by 1.39% on average over the next years.
EPS Next Y43.77%
EPS Next 2Y31.02%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-11%
Revenue Next 2Y1.39%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 7.95, the valuation of BELCO can be described as very cheap.
BELCO's Price/Earnings ratio is a bit more expensive when compared to the industry. BELCO is more expensive than 78.95% of the companies in the same industry.
BELCO is valuated cheaply when we compare the Price/Earnings ratio to 26.15, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 5.53, the valuation of BELCO can be described as very cheap.
BELCO's Price/Forward Earnings is on the same level as the industry average.
The average S&P500 Price/Forward Earnings ratio is at 36.12. BELCO is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.95 | ||
| Fwd PE | 5.53 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, BELCO is valued a bit more expensive than the industry average as 63.16% of the companies are valued more cheaply.
BELCO's Price/Free Cash Flow ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 8.37 | ||
| EV/EBITDA | 8.72 |
4.3 Compensation for Growth
BELCO's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
BELCO's earnings are expected to grow with 31.02% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.18
PEG (5Y)0.15
EPS Next 2Y31.02%
EPS Next 3YN/A
5. Dividend
5.1 Amount
BELCO has a Yearly Dividend Yield of 13.88%, which is a nice return.
Compared to an average industry Dividend Yield of 10.68, BELCO has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.41, BELCO pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 13.88% |
5.2 History
On average, the dividend of BELCO grows each year by 117.83%, which is quite nice.
Dividend Growth(5Y)117.83%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
BELCO pays out 132.17% of its income as dividend. This is not a sustainable payout ratio.
The dividend of BELCO is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP132.17%
EPS Next 2Y31.02%
EPS Next 3YN/A
OSL:BELCO (3/31/2025, 7:00:00 PM)
20.35
0 (0%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryMarine Transportation
Earnings (Last)
Earnings (Next)
Inst Owners14.75%
Inst Owner ChangeN/A
Ins Owners0.61%
Ins Owner ChangeN/A
Market Cap5.15B
Revenue(TTM)415.02M
Net Income(TTM)58.16M
Analysts86
Price Target33.22 (63.24%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 13.88% |
Yearly Dividend3.24
Dividend Growth(5Y)117.83%
DP132.17%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-21.09%
Min EPS beat(2)-41.75%
Max EPS beat(2)-0.42%
EPS beat(4)2
Avg EPS beat(4)-0.53%
Min EPS beat(4)-41.75%
Max EPS beat(4)23.57%
EPS beat(8)6
Avg EPS beat(8)16.46%
EPS beat(12)8
Avg EPS beat(12)9.29%
EPS beat(16)12
Avg EPS beat(16)50.76%
Revenue beat(2)2
Avg Revenue beat(2)14.25%
Min Revenue beat(2)1.83%
Max Revenue beat(2)26.67%
Revenue beat(4)4
Avg Revenue beat(4)25.15%
Min Revenue beat(4)1.83%
Max Revenue beat(4)41.76%
Revenue beat(8)6
Avg Revenue beat(8)17.15%
Revenue beat(12)10
Avg Revenue beat(12)25.57%
Revenue beat(16)14
Avg Revenue beat(16)42.77%
PT rev (1m)0%
PT rev (3m)3.26%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-21.22%
EPS NY rev (1m)9.24%
EPS NY rev (3m)-15.72%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.08%
Revenue NY rev (1m)0%
Revenue NY rev (3m)12.72%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.95 | ||
| Fwd PE | 5.53 | ||
| P/S | 1.16 | ||
| P/FCF | 8.37 | ||
| P/OCF | 5.39 | ||
| P/B | 1.91 | ||
| P/tB | 1.91 | ||
| EV/EBITDA | 8.72 |
EPS(TTM)2.56
EY12.58%
EPS(NY)3.68
Fwd EY18.08%
FCF(TTM)2.43
FCFY11.94%
OCF(TTM)3.78
OCFY18.57%
SpS17.49
BVpS10.66
TBVpS10.66
PEG (NY)0.18
PEG (5Y)0.15
Graham NumberN/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 7.06% | ||
| ROE | 22.99% | ||
| ROCE | 8.79% | ||
| ROIC | 6.77% | ||
| ROICexc | 7.79% | ||
| ROICexgc | 7.79% | ||
| OM | 16.15% | ||
| PM (TTM) | 14.01% | ||
| GM | 76.45% | ||
| FCFM | 13.9% |
ROA(3y)9.96%
ROA(5y)7.73%
ROE(3y)36.04%
ROE(5y)27.47%
ROIC(3y)10.05%
ROIC(5y)N/A
ROICexc(3y)11.84%
ROICexc(5y)N/A
ROICexgc(3y)11.84%
ROICexgc(5y)N/A
ROCE(3y)13.05%
ROCE(5y)N/A
ROICexgc growth 3Y-23.41%
ROICexgc growth 5Y23.32%
ROICexc growth 3Y-23.41%
ROICexc growth 5Y23.68%
OM growth 3Y0.15%
OM growth 5Y18.78%
PM growth 3Y3.21%
PM growth 5Y45.38%
GM growth 3Y-1.41%
GM growth 5Y-1.22%
F-Score5
Asset Turnover0.5
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.98 | ||
| Debt/FCF | 9.1 | ||
| Debt/EBITDA | 4.8 | ||
| Cap/Depr | 86.11% | ||
| Cap/Sales | 7.71% | ||
| Interest Coverage | 2.25 | ||
| Cash Conversion | 86.07% | ||
| Profit Quality | 99.19% | ||
| Current Ratio | 2.3 | ||
| Quick Ratio | 2.19 | ||
| Altman-Z | 1.6 |
F-Score5
WACC7.39%
ROIC/WACC0.92
Cap/Depr(3y)102.64%
Cap/Depr(5y)134%
Cap/Sales(3y)5.67%
Cap/Sales(5y)6.97%
Profit Quality(3y)105.45%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-33.33%
EPS 3Y-20.18%
EPS 5Y51.57%
EPS Q2Q%-66.67%
EPS Next Y43.77%
EPS Next 2Y31.02%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-26.78%
Revenue growth 3Y-20.16%
Revenue growth 5Y20.77%
Sales Q2Q%-40.5%
Revenue Next Year-11%
Revenue Next 2Y1.39%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-36.64%
EBIT growth 3Y-20.05%
EBIT growth 5Y43.45%
EBIT Next Year68.79%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-52.28%
FCF growth 3Y-0.74%
FCF growth 5YN/A
OCF growth 1Y-25.82%
OCF growth 3Y-15.65%
OCF growth 5Y33.19%
BELSHIPS ASA / BELCO.OL FAQ
What is the ChartMill fundamental rating of BELSHIPS ASA (BELCO.OL) stock?
ChartMill assigns a fundamental rating of 5 / 10 to BELCO.OL.
What is the valuation status for BELCO stock?
ChartMill assigns a valuation rating of 6 / 10 to BELSHIPS ASA (BELCO.OL). This can be considered as Fairly Valued.
Can you provide the profitability details for BELSHIPS ASA?
BELSHIPS ASA (BELCO.OL) has a profitability rating of 5 / 10.
What is the valuation of BELSHIPS ASA based on its PE and PB ratios?
The Price/Earnings (PE) ratio for BELSHIPS ASA (BELCO.OL) is 7.95 and the Price/Book (PB) ratio is 1.91.
Can you provide the financial health for BELCO stock?
The financial health rating of BELSHIPS ASA (BELCO.OL) is 3 / 10.