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.

5

1. BELCO.OL Profitability Analysis

1.1 Basic Checks

  • In the past year BELCO was profitable.
  • BELCO had a positive operating cash flow in the past year.
  • 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.
BELCO.OL Yearly Net Income VS EBIT VS OCF VS FCFBELCO.OL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M 100M 150M

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.
  • BELCO has a Return On Equity (22.99%) which is comparable to the rest of the industry.
  • Looking at the Return On Invested Capital, with a value of 6.77%, BELCO is in line with its industry, outperforming 47.37% of the companies in the same industry.
  • 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 8.71%.
Industry RankSector 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
BELCO.OL Yearly ROA, ROE, ROICBELCO.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 -40 -60

1.3 Margins

  • BELCO has a Profit Margin of 14.01%. This is in the lower half of the industry: BELCO underperforms 63.16% of its industry peers.
  • In the last couple of years the Profit Margin of BELCO has grown nicely.
  • The Operating Margin of BELCO (16.15%) is comparable to the rest of the industry.
  • 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 RankSector 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%
BELCO.OL Yearly Profit, Operating, Gross MarginsBELCO.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50 -50

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3

2. BELCO.OL Health Analysis

2.1 Basic Checks

  • BELCO has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • BELCO has about the same amout of shares outstanding than it did 1 year ago.
  • BELCO has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, BELCO has a worse debt to assets ratio.
BELCO.OL Yearly Shares OutstandingBELCO.OL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M
BELCO.OL Yearly Total Debt VS Total AssetsBELCO.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

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.
  • With a Altman-Z score value of 1.60, BELCO is not doing good in the industry: 68.42% of the companies in the same industry are doing better.
  • 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.
  • With a Debt to FCF ratio value of 9.10, BELCO is not doing good in the industry: 68.42% of the companies in the same industry are doing better.
  • 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 RankSector Rank
Debt/Equity 1.98
Debt/FCF 9.1
Altman-Z 1.6
ROIC/WACC0.92
WACC7.39%
BELCO.OL Yearly LT Debt VS Equity VS FCFBELCO.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M 200M 300M 400M 500M

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.
  • A Quick Ratio of 2.19 indicates that BELCO has no problem at all paying 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 RankSector Rank
Current Ratio 2.3
Quick Ratio 2.19
BELCO.OL Yearly Current Assets VS Current LiabilitesBELCO.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M

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5

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%.
  • 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.
  • 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.
BELCO.OL Yearly Revenue VS EstimatesBELCO.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 200M 400M 600M 800M
BELCO.OL Yearly EPS VS EstimatesBELCO.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2019 2020 2021 2022 2023 2024 2025 2026 0 0.2 0.4

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6

4. BELCO.OL Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 7.95, which indicates a rather cheap valuation of BELCO.
  • Compared to the rest of the industry, the Price/Earnings ratio of BELCO indicates a slightly more expensive valuation: BELCO is more expensive than 78.95% of the companies listed in the same industry.
  • When comparing the Price/Earnings ratio of BELCO to the average of the S&P500 Index (25.35), we can say BELCO is valued rather cheaply.
  • A Price/Forward Earnings ratio of 5.53 indicates a rather cheap valuation of BELCO.
  • The rest of the industry has a similar Price/Forward Earnings ratio as BELCO.
  • BELCO's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 22.61.
Industry RankSector Rank
PE 7.95
Fwd PE 5.53
BELCO.OL Price Earnings VS Forward Price EarningsBELCO.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of BELCO indicates a slightly more expensive valuation: BELCO is more expensive than 63.16% of the companies listed in the same industry.
  • The rest of the industry has a similar Price/Free Cash Flow ratio as BELCO.
Industry RankSector Rank
P/FCF 8.37
EV/EBITDA 8.72
BELCO.OL Per share dataBELCO.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

4.3 Compensation for Growth

  • The 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

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. BELCO.OL Dividend Analysis

5.1 Amount

  • BELCO has a Yearly Dividend Yield of 13.88%, which is a nice return.
  • BELCO's Dividend Yield is comparable with the industry average which is at 5.80.
  • Compared to an average S&P500 Dividend Yield of 1.89, BELCO pays a better dividend.
Industry RankSector 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.
  • 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
BELCO.OL Yearly Income VS Free CF VS DividendBELCO.OL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M 100M
BELCO.OL Dividend Payout.BELCO.OL Dividend Payout, showing the Payout Ratio.BELCO.OL Dividend Payout.PayoutRetained Earnings

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BELCO.OL Fundamentals: All Metrics, Ratios and Statistics

BELSHIPS ASA

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
Earnings (Next)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 RankSector 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 RankSector 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 RankSector 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 RankSector 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%.