GRINDROD SHIPPING HOLDINGS L (GRIN)

SG9999019087 - Common Stock

10.53  +0.59 (+5.94%)

Fundamental Rating

3

GRIN gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 30 industry peers in the Marine Transportation industry. The financial health of GRIN is average, but there are quite some concerns on its profitability. GRIN does not seem to be growing, but still is valued expensively.



1

1. Profitability

1.1 Basic Checks

In the past year GRIN has reported negative net income.
GRIN had a positive operating cash flow in the past year.
In multiple years GRIN reported negative net income over the last 5 years.
In multiple years GRIN reported negative operating cash flow during the last 5 years.

1.2 Ratios

GRIN has a Return On Assets of -2.52%. This is amonst the worse of the industry: GRIN underperforms 89.66% of its industry peers.
GRIN has a Return On Equity of -4.25%. This is amonst the worse of the industry: GRIN underperforms 89.66% of its industry peers.
With a Return On Invested Capital value of 0.90%, GRIN is not doing good in the industry: 65.52% of the companies in the same industry are doing better.
Industry RankSector Rank
ROA -2.52%
ROE -4.25%
ROIC 0.9%
ROA(3y)10.34%
ROA(5y)3.61%
ROE(3y)18.3%
ROE(5y)6.12%
ROIC(3y)N/A
ROIC(5y)N/A

1.3 Margins

GRIN has a Operating Margin of 1.24%. This is amonst the worse of the industry: GRIN underperforms 82.76% of its industry peers.
GRIN's Gross Margin of 13.32% is on the low side compared to the rest of the industry. GRIN is outperformed by 86.21% of its industry peers.
GRIN's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 1.24%
PM (TTM) N/A
GM 13.32%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y80.17%
GM growth 5Y46.34%

6

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), GRIN is destroying value.
There is no outstanding debt for GRIN. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.

2.2 Solvency

GRIN has an Altman-Z score of 1.48. This is a bad value and indicates that GRIN is not financially healthy and even has some risk of bankruptcy.
GRIN's Altman-Z score of 1.48 is fine compared to the rest of the industry. GRIN outperforms 65.52% of its industry peers.
GRIN has a debt to FCF ratio of 1.20. This is a very positive value and a sign of high solvency as it would only need 1.20 years to pay back of all of its debts.
GRIN has a better Debt to FCF ratio (1.20) than 100.00% of its industry peers.
GRIN has a Debt/Equity ratio of 0.46. This is a healthy value indicating a solid balance between debt and equity.
The Debt to Equity ratio of GRIN (0.46) is better than 62.07% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.46
Debt/FCF 1.2
Altman-Z 1.48
ROIC/WACC0.14
WACC6.55%

2.3 Liquidity

GRIN has a Current Ratio of 1.76. This is a normal value and indicates that GRIN is financially healthy and should not expect problems in meeting its short term obligations.
The Current ratio of GRIN (1.76) is better than 68.97% of its industry peers.
GRIN has a Quick Ratio of 1.57. This is a normal value and indicates that GRIN is financially healthy and should not expect problems in meeting its short term obligations.
GRIN has a Quick ratio of 1.57. This is in the better half of the industry: GRIN outperforms 68.97% of its industry peers.
Industry RankSector Rank
Current Ratio 1.76
Quick Ratio 1.57

1

3. Growth

3.1 Past

GRIN shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -106.17%.
GRIN shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -18.96%.
The Revenue has been growing slightly by 2.38% on average over the past years.
EPS 1Y (TTM)-106.17%
EPS 3YN/A
EPS 5YN/A
EPS growth Q2Q-128.95%
Revenue 1Y (TTM)-18.96%
Revenue growth 3Y11.64%
Revenue growth 5Y2.38%
Revenue growth Q2Q4.91%

3.2 Future

The Earnings Per Share is expected to decrease by -66.50% on average over the next years. This is quite bad
GRIN is expected to show a very negative growth in Revenue. In the coming years, the Revenue will decrease by -27.87% yearly.
EPS Next Y-110.26%
EPS Next 2Y-66.5%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-57.05%
Revenue Next 2Y-27.87%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.

2

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for GRIN. In the last year negative earnings were reported.
Based on the Price/Forward Earnings ratio of 17.80, the valuation of GRIN can be described as rather expensive.
GRIN's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. GRIN is more expensive than 72.41% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of GRIN to the average of the S&P500 Index (22.14), we can say GRIN is valued inline with the index average.
Industry RankSector Rank
PE N/A
Fwd PE 17.8

4.2 Price Multiples

68.97% of the companies in the same industry are more expensive than GRIN, based on the Enterprise Value to EBITDA ratio.
GRIN's Price/Free Cash Flow ratio is rather cheap when compared to the industry. GRIN is cheaper than 93.10% of the companies in the same industry.
Industry RankSector Rank
P/FCF 1.47
EV/EBITDA 4.6

4.3 Compensation for Growth

A cheap valuation may be justified as GRIN's earnings are expected to decrease with -66.50% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-66.5%
EPS Next 3YN/A

1

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 1.23%, GRIN has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 7.94, GRIN has a dividend in line with its industry peers.
With a Dividend Yield of 1.23, GRIN pays less dividend than the S&P500 average, which is at 2.40.
Industry RankSector Rank
Dividend Yield 1.23%

5.2 History

GRIN has been paying a dividend for less than 5 years, so it still needs to build a track record.
Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

GRIN has negative earnings and hence a negative payout ratio. The dividend may be in danger.
DP-829.08%
EPS Next 2Y-66.5%
EPS Next 3YN/A

GRINDROD SHIPPING HOLDINGS L

NASDAQ:GRIN (3/18/2024, 8:14:02 PM)

10.53

+0.59 (+5.94%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryMarine Transportation
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap207.34M
Analysts
Price Target
Dividend
Industry RankSector Rank
Dividend Yield 1.23%
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)
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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)
Max Revenue beat(4)
Revenue beat(8)
Avg Revenue beat(8)
Revenue beat(12)
Avg Revenue beat(12)
Revenue beat(16)
Avg Revenue beat(16)
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 RankSector Rank
PE N/A
Fwd PE 17.8
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)N/A
Profitability
Industry RankSector Rank
ROA -2.52%
ROE -4.25%
ROCE
ROIC
ROICexc
ROICexgc
OM 1.24%
PM (TTM) N/A
GM 13.32%
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 Turnover0.8
Health
Industry RankSector Rank
Debt/Equity 0.46
Debt/FCF
Debt/EBITDA
Cap/Depr
Cap/Sales
Interest Coverage
Cash Conversion
Profit Quality
Current Ratio 1.76
Quick Ratio 1.57
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)
Growth
EPS 1Y (TTM)-106.17%
EPS 3YN/A
EPS 5Y
EPS growth Q2Q
EPS Next Y-110.26%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)-18.96%
Revenue growth 3Y11.64%
Revenue growth 5Y
Revenue growth 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