SEANERGY MARITIME HOLDINGS (SHIP) Stock Fundamental Analysis
NASDAQ:SHIP - Nasdaq - MHY737604006 - Common Stock - Currency: USD
Taking everything into account, SHIP scores 5 out of 10 in our fundamental rating. SHIP was compared to 35 industry peers in the Marine Transportation industry. SHIP scores excellent on profitability, but there are concerns on its financial health. An interesting combination arises when we look at growth and value: SHIP is growing strongly while it also seems undervalued.
1. Profitability
1.1 Basic Checks
In the past year SHIP was profitable.
SHIP had a positive operating cash flow in the past year.
Of the past 5 years SHIP 4 years were profitable.
SHIP had a positive operating cash flow in 4 of the past 5 years.
1.2 Ratios
SHIP's Return On Assets of 9.46% is fine compared to the rest of the industry. SHIP outperforms 77.78% of its industry peers.
The Return On Equity of SHIP (19.70%) is better than 88.89% of its industry peers.
SHIP has a Return On Invested Capital of 12.65%. This is amongst the best in the industry. SHIP outperforms 88.89% of its industry peers.
The Average Return On Invested Capital over the past 3 years for SHIP is below the industry average of 9.15%.
The last Return On Invested Capital (12.65%) for SHIP is above the 3 year average (6.17%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 9.46% | ||
| ROE | 19.7% | ||
| ROIC | 12.65% |
ROA(3y)3.81%
ROA(5y)2.74%
ROE(3y)8.2%
ROE(5y)4.45%
ROIC(3y)6.17%
ROIC(5y)N/A
1.3 Margins
SHIP has a Profit Margin of 25.10%. This is in the better half of the industry: SHIP outperforms 75.00% of its industry peers.
SHIP's Profit Margin has declined in the last couple of years.
SHIP has a better Operating Margin (37.69%) than 80.56% of its industry peers.
In the last couple of years the Operating Margin of SHIP has grown nicely.
The Gross Margin of SHIP (69.81%) is better than 83.33% of its industry peers.
In the last couple of years the Gross Margin of SHIP has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 37.69% | ||
| PM (TTM) | 25.1% | ||
| GM | 69.81% |
OM growth 3Y-4.17%
OM growth 5Y21.99%
PM growth 3Y-2.44%
PM growth 5YN/A
GM growth 3Y2.22%
GM growth 5Y14.39%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so SHIP is still creating some value.
SHIP has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, SHIP has more shares outstanding
The debt/assets ratio for SHIP has been reduced compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 0.26, we must say that SHIP is in the distress zone and has some risk of bankruptcy.
SHIP has a worse Altman-Z score (0.26) than 66.67% of its industry peers.
The Debt to FCF ratio of SHIP is 277.87, which is on the high side as it means it would take SHIP, 277.87 years of fcf income to pay off all of its debts.
SHIP has a Debt to FCF ratio (277.87) which is in line with its industry peers.
A Debt/Equity ratio of 0.84 indicates that SHIP is somewhat dependend on debt financing.
SHIP has a worse Debt to Equity ratio (0.84) than 66.67% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.84 | ||
| Debt/FCF | 277.87 | ||
| Altman-Z | 0.26 |
ROIC/WACC1.36
WACC9.27%
2.3 Liquidity
SHIP has a Current Ratio of 0.73. This is a bad value and indicates that SHIP is not financially healthy enough and could expect problems in meeting its short term obligations.
SHIP's Current ratio of 0.73 is on the low side compared to the rest of the industry. SHIP is outperformed by 86.11% of its industry peers.
SHIP has a Quick Ratio of 0.73. This is a bad value and indicates that SHIP is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 0.70, SHIP is doing worse than 86.11% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.73 | ||
| Quick Ratio | 0.7 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 57.50% over the past year.
The Earnings Per Share has been decreasing by -5.37% on average over the past years.
Looking at the last year, SHIP shows a very strong growth in Revenue. The Revenue has grown by 51.91%.
The Revenue has been growing by 14.12% on average over the past years. This is quite good.
EPS 1Y (TTM)57.5%
EPS 3Y-5.37%
EPS 5YN/A
EPS Q2Q%-170%
Revenue 1Y (TTM)51.91%
Revenue growth 3Y3.03%
Revenue growth 5Y14.12%
Sales Q2Q%-36.79%
3.2 Future
SHIP is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 35.00% yearly.
The Revenue is expected to grow by 10.92% on average over the next years. This is quite good.
EPS Next Y-81.95%
EPS Next 2Y-18.18%
EPS Next 3Y35%
EPS Next 5YN/A
Revenue Next Year-13.28%
Revenue Next 2Y2.77%
Revenue Next 3Y10.92%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 5.46, the valuation of SHIP can be described as very cheap.
SHIP's Price/Earnings ratio is a bit cheaper when compared to the industry. SHIP is cheaper than 69.44% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 27.30, SHIP is valued rather cheaply.
A Price/Forward Earnings ratio of 4.87 indicates a rather cheap valuation of SHIP.
Based on the Price/Forward Earnings ratio, SHIP is valued a bit cheaper than 69.44% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 21.76, SHIP is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 5.46 | ||
| Fwd PE | 4.87 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, SHIP is valued a bit cheaper than the industry average as 75.00% of the companies are valued more expensively.
The rest of the industry has a similar Price/Free Cash Flow ratio as SHIP.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 155.12 | ||
| EV/EBITDA | 3.56 |
4.3 Compensation for Growth
The decent profitability rating of SHIP may justify a higher PE ratio.
A more expensive valuation may be justified as SHIP's earnings are expected to grow with 35.00% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-18.18%
EPS Next 3Y35%
5. Dividend
5.1 Amount
SHIP has a Yearly Dividend Yield of 2.96%. Purely for dividend investing, there may be better candidates out there.
SHIP's Dividend Yield is comparable with the industry average which is at 7.34.
Compared to an average S&P500 Dividend Yield of 2.35, SHIP pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.96% |
5.2 History
SHIP has been paying a dividend for over 5 years, so it has already some track record.
SHIP has decreased its dividend recently.
Dividend Growth(5Y)N/A
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
SHIP pays out 20.82% of its income as dividend. This is a sustainable payout ratio.
DP20.82%
EPS Next 2Y-18.18%
EPS Next 3Y35%
6.88
+0.12 (+1.78%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryMarine Transportation
Earnings (Last)
Earnings (Next)
Inst Owners11.95%
Inst Owner ChangeN/A
Ins Owners10.48%
Ins Owner ChangeN/A
Market Cap143.79M
Analysts84
Price Target11.28 (63.95%)
Short Float %3.83%
Short Ratio5.53
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.96% |
Yearly Dividend0.54
Dividend Growth(5Y)N/A
DP20.82%
Div Incr Years1
Div Non Decr Years1
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)13.04%
Min EPS beat(2)-19.83%
Max EPS beat(2)45.92%
EPS beat(4)3
Avg EPS beat(4)32.68%
Min EPS beat(4)-19.83%
Max EPS beat(4)90.98%
EPS beat(8)7
Avg EPS beat(8)52.72%
EPS beat(12)11
Avg EPS beat(12)108.44%
EPS beat(16)14
Avg EPS beat(16)85.69%
Revenue beat(2)1
Avg Revenue beat(2)-1.28%
Min Revenue beat(2)-5.14%
Max Revenue beat(2)2.58%
Revenue beat(4)3
Avg Revenue beat(4)2.12%
Min Revenue beat(4)-5.14%
Max Revenue beat(4)8.05%
Revenue beat(8)6
Avg Revenue beat(8)3.14%
Revenue beat(12)9
Avg Revenue beat(12)3.89%
Revenue beat(16)10
Avg Revenue beat(16)2.87%
PT rev (1m)-4.84%
PT rev (3m)-7.81%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-5.06%
EPS NY rev (1m)-50.06%
EPS NY rev (3m)-50.06%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)-0.65%
Revenue NY rev (3m)-1.52%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 5.46 | ||
| Fwd PE | 4.87 | ||
| P/S | 0.7 | ||
| P/FCF | 155.12 | ||
| P/OCF | 1.91 | ||
| P/B | 0.55 | ||
| P/tB | 0.55 | ||
| EV/EBITDA | 3.56 |
EPS(TTM)1.26
EY18.31%
EPS(NY)1.41
Fwd EY20.53%
FCF(TTM)0.04
FCFY0.64%
OCF(TTM)3.6
OCFY52.35%
SpS9.84
BVpS12.54
TBVpS12.5
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 9.46% | ||
| ROE | 19.7% | ||
| ROCE | 16.02% | ||
| ROIC | 12.65% | ||
| ROICexc | 13.64% | ||
| ROICexgc | 13.67% | ||
| OM | 37.69% | ||
| PM (TTM) | 25.1% | ||
| GM | 69.81% | ||
| FCFM | 0.45% |
ROA(3y)3.81%
ROA(5y)2.74%
ROE(3y)8.2%
ROE(5y)4.45%
ROIC(3y)6.17%
ROIC(5y)N/A
ROICexc(3y)6.62%
ROICexc(5y)N/A
ROICexgc(3y)6.63%
ROICexgc(5y)N/A
ROCE(3y)7.81%
ROCE(5y)N/A
ROICexcg growth 3Y-8.55%
ROICexcg growth 5Y-18.09%
ROICexc growth 3Y-8.62%
ROICexc growth 5Y-18.13%
OM growth 3Y-4.17%
OM growth 5Y21.99%
PM growth 3Y-2.44%
PM growth 5YN/A
GM growth 3Y2.22%
GM growth 5Y14.39%
F-Score7
Asset Turnover0.38
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.84 | ||
| Debt/FCF | 277.87 | ||
| Debt/EBITDA | 2.14 | ||
| Cap/Depr | 291.65% | ||
| Cap/Sales | 36.14% | ||
| Interest Coverage | 3.87 | ||
| Cash Conversion | 73.05% | ||
| Profit Quality | 1.8% | ||
| Current Ratio | 0.73 | ||
| Quick Ratio | 0.7 | ||
| Altman-Z | 0.26 |
F-Score7
WACC9.27%
ROIC/WACC1.36
Cap/Depr(3y)198.15%
Cap/Depr(5y)380.86%
Cap/Sales(3y)33.73%
Cap/Sales(5y)52.42%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)57.5%
EPS 3Y-5.37%
EPS 5YN/A
EPS Q2Q%-170%
EPS Next Y-81.95%
EPS Next 2Y-18.18%
EPS Next 3Y35%
EPS Next 5YN/A
Revenue 1Y (TTM)51.91%
Revenue growth 3Y3.03%
Revenue growth 5Y14.12%
Sales Q2Q%-36.79%
Revenue Next Year-13.28%
Revenue Next 2Y2.77%
Revenue Next 3Y10.92%
Revenue Next 5YN/A
EBIT growth 1Y477.18%
EBIT growth 3Y-1.27%
EBIT growth 5Y39.22%
EBIT Next Year13.32%
EBIT Next 3Y37.3%
EBIT Next 5YN/A
FCF growth 1Y-96.99%
FCF growth 3YN/A
FCF growth 5Y4.05%
OCF growth 1Y140.33%
OCF growth 3Y-2.32%
OCF growth 5Y41.84%