BELSHIPS ASA (BELCO.OL) Fundamental Analysis & Valuation
OSL:BELCO • NO0003094104
Current stock price
20.35 NOK
0 (0%)
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This BELCO.OL fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
1. BELCO.OL Profitability Analysis
1.1 Basic Checks
- In the past year BELCO was profitable.
- In the past year BELCO had a positive cash flow from operations.
- Of the past 5 years BELCO 4 years were profitable.
- BELCO had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
- BELCO has a Return On Assets of 7.06%. This is in the lower half of the industry: BELCO underperforms 63.16% of its industry peers.
- Looking at the Return On Equity, with a value of 22.99%, BELCO is in line with its industry, outperforming 57.89% of the companies in the same industry.
- BELCO has a Return On Invested Capital (6.77%) which is comparable to the rest of the industry.
- The Average Return On Invested Capital over the past 3 years for BELCO is in line with the industry average of 8.71%.
| 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
- Looking at the Profit Margin, with a value of 14.01%, BELCO is doing worse than 63.16% of the companies in the same industry.
- BELCO's Profit Margin has improved in the last couple of years.
- BELCO has a Operating Margin (16.15%) which is comparable to the rest of the industry.
- In the last couple of years the Operating Margin of BELCO has grown nicely.
- 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. BELCO.OL Health Analysis
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
- BELCO has an Altman-Z score of 1.60. This is a bad value and indicates that BELCO is not financially healthy and even has some risk of bankruptcy.
- BELCO has a Altman-Z score of 1.60. This is in the lower half of the industry: BELCO underperforms 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.
- Looking at the Current ratio, with a value of 2.30, BELCO is in the better half of 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.
- With a decent Quick ratio value of 2.19, BELCO is doing good in the industry, outperforming 78.95% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.3 | ||
| Quick Ratio | 2.19 |
3. BELCO.OL Growth Analysis
3.1 Past
- The earnings per share for BELCO have decreased strongly by -33.33% in the last year.
- Measured over the past years, BELCO shows a very strong growth in Earnings Per Share. The EPS has been growing by 51.57% on average per year.
- Looking at the last year, BELCO shows a very negative growth in Revenue. The Revenue has decreased by -26.78% in the last year.
- BELCO shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 20.77% yearly.
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
- BELCO is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 31.02% yearly.
- Based on estimates for the next years, BELCO will show a small growth in Revenue. The Revenue will grow by 1.39% on average per year.
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
- Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
- The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. BELCO.OL Valuation Analysis
4.1 Price/Earnings Ratio
- A Price/Earnings ratio of 7.95 indicates a rather cheap valuation of BELCO.
- 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's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 25.60.
- With a Price/Forward Earnings ratio of 5.53, the valuation of BELCO can be described as very cheap.
- The rest of the industry has a similar Price/Forward Earnings ratio as BELCO.
- The average S&P500 Price/Forward Earnings ratio is at 22.84. BELCO is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.95 | ||
| Fwd PE | 5.53 |
4.2 Price Multiples
- 63.16% of the companies in the same industry are cheaper than BELCO, based on the Enterprise Value to EBITDA ratio.
- BELCO's Price/Free Cash Flow is on the same level as 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. BELCO.OL Dividend Analysis
5.1 Amount
- With a Yearly Dividend Yield of 13.88%, BELCO is a good candidate for dividend investing.
- Compared to an average industry Dividend Yield of 5.97, BELCO has a dividend in line with its industry peers.
- Compared to an average S&P500 Dividend Yield of 1.90, 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
- 132.17% of the earnings are spent on dividend by BELCO. This is not a sustainable payout ratio.
- BELCO's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP132.17%
EPS Next 2Y31.02%
EPS Next 3YN/A
BELCO.OL Fundamentals: All Metrics, Ratios and Statistics
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)02-11 2025-02-11/bmo
Earnings (Next)05-08 2025-05-08
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 Fundamental Analysis 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 of BELSHIPS ASA (BELCO.OL) stock?
ChartMill assigns a valuation rating of 6 / 10 to BELSHIPS ASA (BELCO.OL). This can be considered as Fairly Valued.
What is the profitability of BELCO stock?
BELSHIPS ASA (BELCO.OL) has a profitability rating of 5 / 10.
How financially healthy is BELSHIPS ASA?
The financial health rating of BELSHIPS ASA (BELCO.OL) is 3 / 10.
Is the dividend of BELSHIPS ASA sustainable?
The dividend rating of BELSHIPS ASA (BELCO.OL) is 6 / 10 and the dividend payout ratio is 132.17%.