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Serica Energy

DB:A3P
Snowflake Description

Excellent balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
A3P
DB
£259M
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

Serica Energy plc, an upstream oil and gas company, engages in the identification, acquisition, exploration, and exploitation of oil and gas reserves. The last earnings update was 196 days ago. More info.


Add to Portfolio Compare Print
  • Serica Energy has significant price volatility in the past 3 months.
A3P Share Price and Events
7 Day Returns
19.5%
DB:A3P
6.5%
DE Oil and Gas
2.1%
DE Market
1 Year Returns
-23.2%
DB:A3P
28.1%
DE Oil and Gas
-16.6%
DE Market
A3P Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Serica Energy (A3P) 19.5% 5.8% -28.8% -23.2% 182.8% 1683.1%
DE Oil and Gas 6.5% -7.3% -23.7% 28.1% -18.9% 149.7%
DE Market 2.1% -12.6% -22.9% -16.6% -21.9% -27.8%
1 Year Return vs Industry and Market
  • A3P underperformed the Oil and Gas industry which returned 28.1% over the past year.
  • A3P underperformed the Market in Germany which returned -16.6% over the past year.
Price Volatility
A3P
Industry
5yr Volatility vs Market

Value

 Is Serica Energy undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Serica Energy to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Serica Energy.

DB:A3P Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:A3P
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.1%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.95
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.948 (1 + (1- 19%) (0%))
0.965
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.97
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.965 * 6.07%)
5.47%

Discounted Cash Flow Calculation for DB:A3P using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Serica Energy is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:A3P DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 5.47%)
2020 18.54 Analyst x2 17.58
2021 22.83 Analyst x2 20.53
2022 107.12 Analyst x2 91.31
2023 71.00 Analyst x1 57.38
2024 55.00 Analyst x1 42.15
2025 45.96 Est @ -16.44% 33.39
2026 40.62 Est @ -11.62% 27.98
2027 37.27 Est @ -8.25% 24.34
2028 35.07 Est @ -5.89% 21.72
2029 33.58 Est @ -4.24% 19.72
Present value of next 10 years cash flows £356.00
DB:A3P DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= £33.58 × (1 + -0.39%) ÷ (5.47% – -0.39%)
£571.03
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £571.03 ÷ (1 + 5.47%)10
£335.32
DB:A3P Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £356.00 + £335.32
£691.32
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £691.32 / 267.31
£2.59
DB:A3P Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:A3P represents 1.08566x of AIM:SQZ
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.08566x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (GBP) x Listing Adjustment Factor
= £ 2.59 x 1.08566
€2.81
Value per share (EUR) From above. €2.81
Current discount Discount to share price of €1.05
= -1 x (€1.05 - €2.81) / €2.81
62.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Serica Energy is available for.
Intrinsic value
>50%
Share price is €1.05 vs Future cash flow value of €2.81
Current Discount Checks
For Serica Energy to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Serica Energy's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Serica Energy's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Serica Energy's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Serica Energy's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:A3P PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in GBP £0.38
AIM:SQZ Share Price ** AIM (2020-04-07) in GBP £0.97
Europe Oil and Gas Industry PE Ratio Median Figure of 104 Publicly-Listed Oil and Gas Companies 6.51x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 16.83x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Serica Energy.

DB:A3P PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= AIM:SQZ Share Price ÷ EPS (both in GBP)

= 0.97 ÷ 0.38

2.53x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Serica Energy is good value based on earnings compared to the Europe Oil and Gas industry average.
  • Serica Energy is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Serica Energy's expected growth come at a high price?
Raw Data
DB:A3P PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 2.53x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
Not available
Europe Oil and Gas Industry PEG Ratio Median Figure of 66 Publicly-Listed Oil and Gas Companies 0.32x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Serica Energy, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Serica Energy's assets?
Raw Data
DB:A3P PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in GBP £0.64
AIM:SQZ Share Price * AIM (2020-04-07) in GBP £0.97
Germany Oil and Gas Industry PB Ratio Median Figure of 6 Publicly-Listed Oil and Gas Companies 1x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.45x
DB:A3P PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= AIM:SQZ Share Price ÷ Book Value per Share (both in GBP)

= 0.97 ÷ 0.64

1.51x

* Primary Listing of Serica Energy.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Serica Energy is overvalued based on assets compared to the DE Oil and Gas industry average.
X
Value checks
We assess Serica Energy's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Serica Energy has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Serica Energy expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-39.2%
Expected annual growth in earnings per share.
Earnings growth vs Low Risk Savings
Is Serica Energy expected to grow at an attractive rate?
  • Serica Energy's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Serica Energy's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Serica Energy's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:A3P Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:A3P Future Earnings per Share Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts -39.2%
DB:A3P Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts -0.9%
Europe Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 13.1%
Europe Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 1.9%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:A3P Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (9 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:A3P Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 194 80 1
2023-12-31 222 96 1
2022-12-31 267 134 2
2021-12-31 233 123 3
2020-12-31 184 108 3
2020-04-07
2019-12-31 277 158 3
DB:A3P Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-06-30 179 84 95
2019-03-31 107 37 75
2018-12-31 36 -11 59
2018-09-30 23 -8 28
2018-06-30 11 -5 -1
2018-03-31 17 4 5
2017-12-31 24 13 13
2017-09-30 26 13 15
2017-06-30 29 13 18
2017-03-31 24 7 14
2016-12-31 17 0 9
2016-09-30 19 4 6

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Serica Energy's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Serica Energy's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:A3P Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (9 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Serica Energy Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:A3P Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31
2021-12-31 0.15 0.15 0.15 1.00
2020-12-31 0.07 0.07 0.07 1.00
2020-04-07
2019-12-31 0.23 0.23 0.23 1.00
DB:A3P Past Financials Data
Date (Data in GBP Millions) EPS *
2019-06-30 0.38
2019-03-31 0.29
2018-12-31 0.22
2018-09-30 0.10
2018-06-30 0.00
2018-03-31 0.02
2017-12-31 0.05
2017-09-30 0.06
2017-06-30 0.07
2017-03-31 0.05
2016-12-31 0.03
2016-09-30 0.02

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Serica Energy is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Serica Energy's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Serica Energy has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Serica Energy performed over the past 5 years?

  • Serica Energy's last earnings update was 196 days ago.
The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Serica Energy's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Serica Energy has delivered over 20% year on year earnings growth in the past 5 years.
  • Serica Energy has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Serica Energy has become profitable in the last year making it difficult to compare the Europe Oil and Gas industry average.
Earnings and Revenue History
Serica Energy's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Serica Energy Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:A3P Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 179.07 94.94 6.67
2019-03-31 106.66 75.45 5.32
2018-12-31 35.89 58.62 4.15
2018-09-30 23.14 28.01 3.16
2018-06-30 10.92 -0.97 2.19
2018-03-31 16.62 5.45 1.90
2017-12-31 23.65 12.65 1.73
2017-09-30 25.95 15.32 1.64
2017-06-30 28.96 18.45 1.58
2017-03-31 23.58 13.90 1.68
2016-12-31 17.36 8.78 1.74
2016-09-30 18.82 5.94 1.64
2016-06-30 20.74 3.47 1.59
2016-03-31 17.91 3.95 1.67
2015-12-31 16.29 4.58 1.83
2015-09-30 8.66 -8.91 2.16
2015-06-30 1.39 -21.43 2.44
2015-03-31 0.74 -23.33 2.85
2014-12-31 -22.86 2.97
2014-06-30 -3.00 2.90
2014-03-31 -3.08 2.90
2013-12-31 -3.10 2.84
2013-06-30 -5.56 -10.12 3.25

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Serica Energy made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%).
  • Serica Energy used its assets more efficiently than the Europe Oil and Gas industry average last year based on Return on Assets.
  • Serica Energy has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Serica Energy's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Serica Energy has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Serica Energy's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Serica Energy's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Serica Energy is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Serica Energy's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Serica Energy's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Serica Energy has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Serica Energy Company Filings, last reported 9 months ago.

DB:A3P Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 170.33 0.00 88.17
2019-03-31 170.33 0.00 88.17
2018-12-31 139.48 15.88 43.06
2018-09-30 136.27 15.52 42.07
2018-06-30 71.45 2.96 15.93
2018-03-31 67.17 2.78 14.97
2017-12-31 75.68 2.83 25.14
2017-09-30 76.30 2.85 25.34
2017-06-30 73.50 0.00 23.63
2017-03-31 76.23 0.00 24.50
2016-12-31 68.92 0.00 13.44
2016-09-30 65.35 0.00 12.74
2016-06-30 53.73 0.00 15.66
2016-03-31 49.60 0.00 14.46
2015-12-31 50.29 0.00 14.65
2015-09-30 49.01 0.00 14.28
2015-06-30 42.72 0.00 8.84
2015-03-31 45.22 0.00 9.36
2014-12-31 42.57 0.00 6.35
2014-06-30 58.07 0.00 11.37
2014-03-31 59.59 0.00 11.67
2013-12-31 61.62 0.00 15.73
2013-06-30 57.09 0.00 9.79
  • Serica Energy has no debt.
  • Serica Energy currently has no debt however we can't compare to 5 years ago as we have no data for that period.
  • Serica Energy has no debt, it does not need to be covered by operating cash flow.
  • Serica Energy has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Serica Energy's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Serica Energy has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Serica Energy's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Serica Energy dividends. Estimated to be 2.94% next year.
If you bought €2,000 of Serica Energy shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Serica Energy's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Serica Energy's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:A3P Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
Europe Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 68 Stocks 8.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 314 Stocks 3.7%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:A3P Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 0.04 1.00
2023-12-31 0.04 1.00
2022-12-31 0.04 1.00
2021-12-31 0.02 2.00
2020-12-31 0.02 2.00
2020-04-07
2019-12-31 0.00 2.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Serica Energy has not reported any payouts.
  • Unable to verify if Serica Energy's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Serica Energy's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Serica Energy has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (6.3x coverage).
X
Income/ dividend checks
We assess Serica Energy's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Serica Energy afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Serica Energy has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Serica Energy's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Mitch Flegg
COMPENSATION £577,000
AGE 59
TENURE AS CEO 2.4 years
CEO Bio

Mr. Mitchell Robert Flegg, also known as Mitch, has been the Chief Executive Officer and Director of Serica Energy PLC since November 21, 2017. Mr Flegg has been the Chief Executive Officer and Executive Director of Circle Oil plc since June 1, 2015. Mr. Flegg served as the Chief Operating Officer of Serica Energy PLC from March 31, 2011 to May 29, 2015. He was responsible for the successful drilling operations of Serica's wells over the past 5 years and for the field developments at Kambuna and Columbus. He joined Serica in 2006 and has, since then, been responsible for the successful execution of Serica's drilling programme both as Operator and non-Operator, which included 17 wells drilled in locations as diverse as offshore Indonesia, offshore Vietnam, the North Sea, the East Irish Sea and the Atlantic off the west coast of Ireland and has represented Serica in the Company's joint venture interests. As Chief Operating Officer, he is responsible for the current seismic acquisition programme offshore Namibia, the development of the Columbus field in the North Sea, the numerous other interests in the UK and west of Ireland which Serica operates and the overall operational management of the Company's assets. He has 31 years operational experience in the oil industry. He started his career in 1981, gaining field experience with Schlumberger and Flopetrol. In 1992 he joined Enterprise Oil, subsequently becoming responsible for drilling related operations for wells drilled in UK, Australia, Cambodia, Vietnam, Ireland, Romania and Bulgaria. Following the acquisition of Enterprise Oil by Shell in 2002 he worked on the global implementation of new technology in well engineering before moving into asset management. With Serica, as well as managing Serica's drilling programme, he has been responsible for the development of both the Kambuna field in Indonesia and the Columbus field in the North Sea. He has a wealth of operating experience to the Serica Board. Mr. Flegg serves a Director of the Serica Holdings UK Limited. He served as an Executive Director of Serica Energy PLC from September 5, 2012 to May 29, 2015.

CEO Compensation
  • Mitch's compensation has increased in line with Serica Energy recently becoming profitable.
  • Mitch's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure of the Serica Energy management team in years:

4.8
Average Tenure
  • The tenure for the Serica Energy management team is about average.
Management Team

Tony Walker

TITLE
Executive Chairman
COMPENSATION
£653K
AGE
75
TENURE
4.8 yrs

Mitch Flegg

TITLE
CEO & Director
COMPENSATION
£577K
AGE
59
TENURE
2.4 yrs

Mike Killeen

TITLE
Vice President of Operations
TENURE
2.3 yrs

Clara Altobell

TITLE
Vice President of Technical

Danny Fewkes

TITLE
Group Treasurer
TENURE
4.8 yrs

Amanda Bateman

TITLE
Company Secretary
TENURE
4.8 yrs

Michael Renolds

TITLE
Exploration Consultant of Indonesia
Board of Directors Tenure

Average tenure and age of the Serica Energy board of directors in years:

2.4
Average Tenure
69.5
Average Age
  • The average tenure for the Serica Energy board of directors is less than 3 years, this suggests a new board.
Board of Directors

Tony Walker

TITLE
Executive Chairman
COMPENSATION
£653K
AGE
75
TENURE
15.7 yrs

Mitch Flegg

TITLE
CEO & Director
COMPENSATION
£577K
AGE
59
TENURE
2.4 yrs

Neil Pike

TITLE
Senior Independent Director
COMPENSATION
£67K
AGE
73

Ian Vann

TITLE
Non-Executive Director
COMPENSATION
£67K
AGE
70
TENURE
12.8 yrs

Malcolm Webb

TITLE
Independent Non-Executive Director
COMPENSATION
£5K
AGE
69
TENURE
1.4 yrs

Trevor Garlick

TITLE
Independent Non-Executive Director
COMPENSATION
£5K
AGE
61
TENURE
1.4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Serica Energy's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Serica Energy has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Serica Energy plc, an upstream oil and gas company, engages in the identification, acquisition, exploration, and exploitation of oil and gas reserves. Its primary focus is on the production and development in the United Kingdom North Sea, complemented by a portfolio of oil and gas exploration opportunities, including interests in offshore license blocks in the United Kingdom North Sea, Ireland, and Namibia. Serica Energy plc was founded in 2004 and is headquartered in Aberdeen, the United Kingdom.

Details
Name: Serica Energy plc
A3P
Exchange: DB
Founded: 2004
£293,607,417
267,314,887
Website: http://www.serica-energy.com
Address: Serica Energy plc
H1 Building,
Hill of Rubislaw,
Aberdeen,
Aberdeenshire, AB15 6BY,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AIM SQZ Ordinary Shares London Stock Exchange AIM Market GB GBP 30. Jan 2004
OTCPK SQZZ.F Ordinary Shares Pink Sheets LLC US USD 30. Jan 2004
DB A3P Ordinary Shares Deutsche Boerse AG DE EUR 30. Jan 2004
Number of employees
Current staff
Staff numbers
17
Serica Energy employees.
Industry
Oil and Gas Exploration and Production
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 21:42
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/03/17
Last earnings filing: 2019/09/24
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.