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
- In the past year BELCO was profitable.
- In the past year BELCO had a positive cash flow from operations.
- 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.
1.2 Ratios
- With a Return On Assets value of 7.06%, BELCO is not doing good in the industry: 63.16% of the companies in the same industry are doing better.
- BELCO's Return On Equity of 22.99% is in line compared to the rest of the industry. BELCO outperforms 57.89% of its industry peers.
- BELCO's Return On Invested Capital of 6.77% is in line compared to the rest of the industry. BELCO outperforms 47.37% of 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 8.44%.
| 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
- BELCO's Profit Margin of 14.01% is on the low side compared to the rest of the industry. BELCO is outperformed by 63.16% of its industry peers.
- 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.
- Looking at the Gross Margin, with a value of 76.45%, BELCO belongs to the top of the industry, outperforming 94.74% of the companies in the same industry.
- 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
- With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), BELCO is creating some value.
- BELCO has about the same amout of shares outstanding than it did 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.
- Looking at the Debt to FCF ratio, with a value of 9.10, BELCO is doing worse than 68.42% of the companies in the same industry.
- A Debt/Equity ratio of 1.98 is on the high side and indicates that BELCO has dependencies on debt financing.
- BELCO has a Debt to Equity ratio of 1.98. This is amonst the worse of the industry: BELCO underperforms 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.
- BELCO's Current ratio of 2.30 is fine compared to the rest of the industry. BELCO outperforms 78.95% of its industry peers.
- 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.
- BELCO has a better Quick ratio (2.19) than 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
- The earnings per share for BELCO have decreased strongly by -33.33% in the last year.
- BELCO shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 51.57% yearly.
- BELCO shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -26.78%.
- 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
- 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
- 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
- The Price/Earnings ratio is 7.95, which indicates a rather cheap valuation of BELCO.
- 78.95% of the companies in the same industry are cheaper than BELCO, based on the Price/Earnings ratio.
- BELCO's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.89.
- Based on the Price/Forward Earnings ratio of 5.53, the valuation of BELCO can be described as very cheap.
- Compared to the rest of the industry, the Price/Forward Earnings ratio of BELCO is on the same level as its industry peers.
- The average S&P500 Price/Forward Earnings ratio is at 38.50. BELCO is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.95 | ||
| Fwd PE | 5.53 |
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 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 5.86, 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
- 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 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%.