BELSHIPS ASA (BELCO.OL) Fundamental Analysis & Valuation
OSL:BELCO • NO0003094104
Current stock price
20.35 NOK
0 (0%)
Last:
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
- BELCO had positive earnings in the past year.
- BELCO had a positive operating cash flow in the past year.
- Of the past 5 years BELCO 4 years were profitable.
- In the past 5 years BELCO always reported a positive cash flow from operatings.
1.2 Ratios
- Looking at the Return On Assets, with a value of 7.06%, BELCO is doing worse than 63.16% of the companies in the same industry.
- With a Return On Equity value of 22.99%, BELCO perfoms like the industry average, outperforming 57.89% of the companies in the same 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 8.21%.
| 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
- With a Profit Margin value of 14.01%, BELCO is not doing good in the industry: 63.16% of the companies in the same industry are doing better.
- 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.
- The Gross Margin of BELCO (76.45%) is better than 94.74% of its industry peers.
- BELCO's Gross Margin has been stable in the last couple of years.
| 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
- The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so BELCO is still 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.
- Compared to 1 year ago, BELCO has a worse debt to assets ratio.
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.
- BELCO has a worse Altman-Z score (1.60) than 68.42% of its industry peers.
- The Debt to FCF ratio of BELCO is 9.10, which is on the high side as it means it would take BELCO, 9.10 years of fcf income to pay off all of its debts.
- BELCO has a worse Debt to FCF ratio (9.10) than 68.42% of its industry peers.
- BELCO has a Debt/Equity ratio of 1.98. This is a high value indicating a heavy dependency on external financing.
- BELCO's Debt to Equity ratio of 1.98 is on the low side compared to the rest of the industry. BELCO is outperformed by 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
- BELCO has a Current Ratio of 2.30. This indicates that BELCO is financially healthy and has no problem in meeting its short term obligations.
- BELCO has a Current ratio of 2.30. This is in the better half of the industry: BELCO outperforms 78.95% of its industry peers.
- A Quick Ratio of 2.19 indicates that BELCO has no problem at all paying its short term obligations.
- BELCO has a Quick ratio of 2.19. This is in the better half of the industry: BELCO outperforms 78.95% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.3 | ||
| Quick Ratio | 2.19 |
3. BELCO.OL Growth Analysis
3.1 Past
- BELCO shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -33.33%.
- 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.
- BELCO shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -26.78%.
- 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
- The Earnings Per Share is expected to grow by 31.02% on average over the next years. This is a very strong growth
- BELCO is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.39% yearly.
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.
- When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. BELCO.OL Valuation Analysis
4.1 Price/Earnings Ratio
- With a Price/Earnings ratio of 7.95, the valuation of BELCO can be described as very cheap.
- Based on the Price/Earnings ratio, BELCO is valued a bit more expensive than 78.95% of the companies in the same industry.
- The average S&P500 Price/Earnings ratio is at 27.87. BELCO is valued rather cheaply when compared to this.
- 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 ratio is in line with the industry average.
- Compared to an average S&P500 Price/Forward Earnings ratio of 38.51, BELCO is valued rather cheaply.
| 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 63.16% of the companies in the same industry.
- The rest of the industry has a similar Price/Free Cash Flow ratio as BELCO.
| 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
- BELCO has a Yearly Dividend Yield of 13.88%, which is a nice return.
- Compared to an average industry Dividend Yield of 5.46, BELCO has a dividend in line with its industry peers.
- Compared to an average S&P500 Dividend Yield of 1.82, BELCO pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 13.88% |
5.2 History
- The dividend of BELCO is nicely growing with an annual growth rate of 117.83%!
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.
- 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 Number0 (-100%)
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%.