SBM OFFSHORE NV (SBMO.AS)
NL0000360618 - Common Stock
Taking everything into account, SBMO scores 4 out of 10 in our fundamental rating. SBMO was compared to 35 industry peers in the Energy Equipment & Services industry. While SBMO seems to be doing ok healthwise, there are quite some concerns on its profitability. SBMO has a correct valuation and a medium growth rate. Finally SBMO also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
SBMO had positive earnings in the past year.
In the past year SBMO had a positive cash flow from operations.
Each year in the past 5 years SBMO has been profitable.
SBMO had a negative operating cash flow in each of the past 5 years.
1.2 Ratios
With a Return On Assets value of 2.35%, SBMO is not doing good in the industry: 61.76% of the companies in the same industry are doing better.
SBMO has a Return On Equity of 11.49%. This is comparable to the rest of the industry: SBMO outperforms 52.94% of its industry peers.
SBMO's Return On Invested Capital of 6.36% is on the low side compared to the rest of the industry. SBMO is outperformed by 61.76% of its industry peers.
SBMO had an Average Return On Invested Capital over the past 3 years of 6.38%. This is significantly below the industry average of 13.02%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.35% | ||
| ROE | 11.49% | ||
| ROIC | 6.36% |
ROA(3y)2.91%
ROA(5y)2.8%
ROE(3y)13.97%
ROE(5y)12.54%
ROIC(3y)6.38%
ROIC(5y)6.64%
1.3 Margins
SBMO has a better Profit Margin (9.04%) than 64.71% of its industry peers.
SBMO's Profit Margin has been stable in the last couple of years.
The Operating Margin of SBMO (23.41%) is better than 79.41% of its industry peers.
SBMO's Operating Margin has declined in the last couple of years.
SBMO has a better Gross Margin (28.06%) than 61.76% of its industry peers.
In the last couple of years the Gross Margin of SBMO has declined.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 23.41% | ||
| PM (TTM) | 9.04% | ||
| GM | 28.06% |
OM growth 3Y6.49%
OM growth 5Y-3.18%
PM growth 3Y21.89%
PM growth 5Y0.89%
GM growth 3Y4.01%
GM growth 5Y-4.41%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so SBMO is still creating some value.
Compared to 1 year ago, SBMO has more shares outstanding
SBMO has less shares outstanding than it did 5 years ago.
SBMO has a worse debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 1.15, we must say that SBMO is in the distress zone and has some risk of bankruptcy.
SBMO's Altman-Z score of 1.15 is in line compared to the rest of the industry. SBMO outperforms 44.12% of its industry peers.
SBMO has a debt to FCF ratio of 15.61. This is a negative value and a sign of low solvency as SBMO would need 15.61 years to pay back of all of its debts.
SBMO has a worse Debt to FCF ratio (15.61) than 64.71% of its industry peers.
A Debt/Equity ratio of 2.21 is on the high side and indicates that SBMO has dependencies on debt financing.
With a Debt to Equity ratio value of 2.21, SBMO is not doing good in the industry: 82.35% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.21 | ||
| Debt/FCF | 15.61 | ||
| Altman-Z | 1.15 |
ROIC/WACC1.01
WACC6.28%
2.3 Liquidity
SBMO has a Current Ratio of 2.51. This indicates that SBMO is financially healthy and has no problem in meeting its short term obligations.
The Current ratio of SBMO (2.51) is better than 85.29% of its industry peers.
A Quick Ratio of 2.44 indicates that SBMO has no problem at all paying its short term obligations.
SBMO has a better Quick ratio (2.44) than 91.18% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.51 | ||
| Quick Ratio | 2.44 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 26.37% over the past year.
The Earnings Per Share has been growing by 21.12% on average over the past years. This is a very strong growth
Looking at the last year, SBMO shows a decrease in Revenue. The Revenue has decreased by -4.52% in the last year.
SBMO shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 17.25% yearly.
EPS 1Y (TTM)26.37%
EPS 3Y39.05%
EPS 5Y21.12%
EPS Q2Q%-35.37%
Revenue 1Y (TTM)-4.52%
Revenue growth 3Y12.39%
Revenue growth 5Y17.25%
Sales Q2Q%1.19%
3.2 Future
Based on estimates for the next years, SBMO will show a small growth in Earnings Per Share. The EPS will grow by 0.34% on average per year.
The Revenue is expected to grow by 4.50% on average over the next years.
EPS Next Y-40.9%
EPS Next 2Y-0.18%
EPS Next 3Y-5.29%
EPS Next 5Y0.34%
Revenue Next Year-2.93%
Revenue Next 2Y11.09%
Revenue Next 3Y2.71%
Revenue Next 5Y4.5%
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last 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
With a Price/Earnings ratio of 7.72, the valuation of SBMO can be described as very cheap.
SBMO's Price/Earnings ratio is rather cheap when compared to the industry. SBMO is cheaper than 85.29% of the companies in the same industry.
SBMO is valuated cheaply when we compare the Price/Earnings ratio to 30.69, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 8.78 indicates a reasonable valuation of SBMO.
SBMO's Price/Forward Earnings ratio is in line with the industry average.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.55, SBMO is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.72 | ||
| Fwd PE | 8.78 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, SBMO is valued a bit more expensive than 76.47% of the companies in the same industry.
SBMO's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. SBMO is cheaper than 76.47% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 5.07 | ||
| EV/EBITDA | 10.63 |
4.3 Compensation for Growth
A cheap valuation may be justified as SBMO's earnings are expected to decrease with -5.29% in the coming years.
PEG (NY)N/A
PEG (5Y)0.37
EPS Next 2Y-0.18%
EPS Next 3Y-5.29%
5. Dividend
5.1 Amount
SBMO has a Yearly Dividend Yield of 4.60%, which is a nice return.
SBMO's Dividend Yield is rather good when compared to the industry average which is at 4.35. SBMO pays more dividend than 82.35% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.22, SBMO pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.6% |
5.2 History
On average, the dividend of SBMO grows each year by 25.56%, which is quite nice.
Dividend Growth(5Y)25.56%
Div Incr Years2
Div Non Decr Years2
5.3 Sustainability
60.75% of the earnings are spent on dividend by SBMO. This is not a sustainable payout ratio.
The dividend of SBMO is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP60.75%
EPS Next 2Y-0.18%
EPS Next 3Y-5.29%
SBM OFFSHORE NV
AMS:SBMO (10/30/2024, 7:00:00 PM)
16.75
+0.04 (+0.24%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryEnergy Equipment & Services
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap2.99B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.6% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
Max EPS beat(2)
EPS beat(4)
Avg EPS beat(4)
Min EPS beat(4)
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EPS beat(8)
Avg EPS beat(8)
EPS beat(12)
Avg EPS beat(12)
EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
Avg Revenue beat(2)
Min Revenue beat(2)
Max Revenue beat(2)
Revenue beat(4)
Avg Revenue beat(4)
Min Revenue beat(4)
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Revenue beat(8)
Avg Revenue beat(8)
Revenue beat(12)
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Revenue beat(16)
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PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.72 | ||
| Fwd PE | 8.78 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)N/A
PEG (5Y)0.37
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.35% | ||
| ROE | 11.49% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 23.41% | ||
| PM (TTM) | 9.04% | ||
| GM | 28.06% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.26
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.21 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 2.51 | ||
| Quick Ratio | 2.44 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
High Growth Momentum
Growth
EPS 1Y (TTM)26.37%
EPS 3Y39.05%
EPS 5Y
EPS Q2Q%
EPS Next Y-40.9%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)-4.52%
Revenue growth 3Y12.39%
Revenue growth 5Y
Sales Q2Q%
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y