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BWG

DB:BW9
Snowflake Description

Undervalued average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BW9
DB
NOK4B
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

BW LPG Limited, an investment holding company, engages in shipowning and chartering activities worldwide. The last earnings update was 32 days ago. More info.


Add to Portfolio Compare Print
  • BWG has significant price volatility in the past 3 months.
BW9 Share Price and Events
7 Day Returns
20.6%
DB:BW9
18.1%
DE Oil and Gas
7.3%
DE Market
1 Year Returns
-17.8%
DB:BW9
21.9%
DE Oil and Gas
-17.7%
DE Market
BW9 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
BWG (BW9) 20.6% -50.5% -64.9% -17.8% -45.4% -65.2%
DE Oil and Gas 18.1% -15.9% -28.7% 21.9% -25.6% 137.4%
DE Market 7.3% -17.9% -25.8% -17.7% -25.6% -29%
1 Year Return vs Industry and Market
  • BW9 underperformed the Oil and Gas industry which returned 21.9% over the past year.
  • BW9 matched the Germany Market (-17.7%) over the past year.
Price Volatility
BW9
Industry
5yr Volatility vs Market

Value

 Is BWG 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 BWG 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 BWG.

DB:BW9 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 10.5%
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:BW9
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.81
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.808 (1 + (1- 17%) (307.79%))
2.254
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (2 * 5.44%)
10.49%

Discounted Cash Flow Calculation for DB:BW9 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for BWG 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:BW9 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 10.49%)
2020 369.25 Analyst x4 334.19
2021 323.75 Analyst x4 265.19
2022 229.00 Analyst x2 169.77
2023 219.29 Est @ -4.24% 147.14
2024 212.53 Est @ -3.08% 129.06
2025 207.69 Est @ -2.28% 114.15
2026 204.14 Est @ -1.71% 101.55
2027 201.45 Est @ -1.31% 90.70
2028 199.37 Est @ -1.04% 81.24
2029 197.69 Est @ -0.84% 72.90
Present value of next 10 years cash flows $1,505.00
DB:BW9 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $197.69 × (1 + -0.39%) ÷ (10.49% – -0.39%)
$1,809.87
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $1,809.87 ÷ (1 + 10.49%)10
$667.45
DB:BW9 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,505.00 + $667.45
$2,172.45
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,172.45 / 138.28
$15.71
DB:BW9 Discount to Share Price
Calculation Result
Exchange Rate USD/NOK
(Reporting currency to currency of OB:BWLPG)
10.551
Value per Share
(NOK)
= Value per Share in USD x Exchange Rate (USD/NOK)
= $15.71 x 10.551
NOK165.76
Non-primary Listing Adjustment Factor 1 share in DB:BW9 represents 0.0815x of OB:BWLPG
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.0815x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (NOK) x Listing Adjustment Factor
= NOK 165.76 x 0.0815
€13.51
Value per share (EUR) From above. €13.51
Current discount Discount to share price of €2.59
= -1 x (€2.59 - €13.51) / €13.51
80.8%

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

Current Discount
Amount off the current price BWG is available for.
Intrinsic value
>50%
Share price is €2.59 vs Future cash flow value of €13.51
Current Discount Checks
For BWG to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • BWG's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • BWG'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 BWG's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are BWG's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:BW9 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $1.97
OB:BWLPG Share Price ** OB (2020-03-30) in NOK NOK31.78
OB:BWLPG Share Price converted to USD reporting currency Exchange rate (NOK/ USD) 0.095 $3.01
Europe Oil and Gas Industry PE Ratio Median Figure of 105 Publicly-Listed Oil and Gas Companies 5.67x
Germany Market PE Ratio Median Figure of 400 Publicly-Listed Companies 16.36x

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

** Primary Listing of BWG.

DB:BW9 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OB:BWLPG Share Price ÷ EPS (both in USD)

= 3.01 ÷ 1.97

1.53x

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

  • BWG is good value based on earnings compared to the Europe Oil and Gas industry average.
  • BWG is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does BWG's expected growth come at a high price?
Raw Data
DB:BW9 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 1.53x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
-24.6%per year
Europe Oil and Gas Industry PEG Ratio Median Figure of 65 Publicly-Listed Oil and Gas Companies 0.17x
Germany Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.2x

*Line of best fit is calculated by linear regression .

DB:BW9 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 1.53x ÷ -24.6%

-0.06x

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

  • BWG earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on BWG's assets?
Raw Data
DB:BW9 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $8.49
OB:BWLPG Share Price * OB (2020-03-30) in NOK NOK31.78
OB:BWLPG Share Price converted to USD reporting currency Exchange rate (NOK/ USD) 0.095 $3.01
Germany Oil and Gas Industry PB Ratio Median Figure of 6 Publicly-Listed Oil and Gas Companies 0.94x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.43x
DB:BW9 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OB:BWLPG Share Price ÷ Book Value per Share (both in USD)

= 3.01 ÷ 8.49

0.35x

* Primary Listing of BWG.

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

  • BWG is good value based on assets compared to the DE Oil and Gas industry average.
X
Value checks
We assess BWG'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. BWG has a total score of 5/6, 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 BWG 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
-24.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is BWG expected to grow at an attractive rate?
  • BWG'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
  • BWG's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • BWG'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:BW9 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:BW9 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts -24.6%
DB:BW9 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts -21.9%
Europe Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 13%
Europe Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 2.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.3%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*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:BW9 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:BW9 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 418 244 119 2
2021-12-31 538 353 182 2
2020-12-31 676 438 293 2
2020-03-30
DB:BW9 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 817 322 274
2019-09-30 711 223 86
2019-06-30 591 124 -34
2019-03-31 522 87 -88
2018-12-31 522 89 -71
2018-09-30 489 71 -57
2018-06-30 448 73 -81
2018-03-31 473 125 -60
2017-12-31 492 72 -43
2017-09-30 487 75 57
2017-06-30 491 111 23
2017-03-31 481 125 -25

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • BWG's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • BWG'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:BW9 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from BWG Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:BW9 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 0.86 0.93 0.79 2.00
2021-12-31 1.31 1.99 0.85 3.00
2020-12-31 2.10 2.47 1.49 3.00
2020-03-30
DB:BW9 Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 1.97
2019-09-30 0.61
2019-06-30 -0.24
2019-03-31 -0.63
2018-12-31 -0.51
2018-09-30 -0.41
2018-06-30 -0.65
2018-03-31 -0.43
2017-12-31 -0.30
2017-09-30 0.40
2017-06-30 0.14
2017-03-31 -0.18

*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.
  • BWG is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess BWG'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.
BWG 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 BWG performed over the past 5 years?

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 BWG'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.
  • BWG's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • BWG has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • BWG has become profitable in the last year making it difficult to compare the Europe Oil and Gas industry average.
Earnings and Revenue History
BWG'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 BWG Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:BW9 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 817.20 273.84 26.85
2019-09-30 710.66 86.15 -0.15
2019-06-30 591.15 -33.99 -0.15
2019-03-31 521.87 -88.00 -0.15
2018-12-31 521.75 -71.40 27.51
2018-09-30 489.45 -57.22 0.05
2018-06-30 447.93 -80.83 0.05
2018-03-31 472.71 -59.88 0.05
2017-12-31 491.75 -42.69 0.05
2017-09-30 487.09 56.74 0.12
2017-06-30 490.78 22.84 0.12
2017-03-31 480.86 -24.91 0.12
2016-12-31 506.47 24.28 0.12
2016-09-30 581.03 25.85 0.04
2016-06-30 700.04 191.54 0.04
2016-03-31 767.92 326.43 0.04
2015-12-31 773.34 323.97 0.04
2015-09-30 763.76 307.28 0.10
2015-06-30 751.28 289.19 0.10
2015-03-31 764.60 280.84 0.10
2014-12-31 747.36 254.57 0.10
2014-09-30 718.79 225.92 0.01
2014-06-30 619.80 206.45 0.01
2014-03-31 515.08 169.03 0.01
2013-12-31 449.25 124.74 0.01
2013-09-30 385.57 53.32
2013-06-30 385.78 4.13 -27.00
2013-03-31 375.16 -32.83 -13.50

*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.
  • BWG has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • BWG used its assets more efficiently than the Europe Oil and Gas industry average last year based on Return on Assets.
  • BWG has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess BWG'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.
BWG has a total score of 3/6, 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 BWG'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 BWG's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • BWG is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • BWG's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of BWG'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.
  • Debt is not covered by short term assets, assets are 0.4x debt.
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 BWG Company Filings, last reported 2 months ago.

DB:BW9 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,177.31 1,064.04 112.21
2019-09-30 1,063.90 1,128.35 48.15
2019-06-30 962.06 1,209.45 53.01
2019-03-31 949.02 1,204.00 40.58
2018-12-31 983.63 1,236.06 50.08
2018-09-30 1,028.84 1,242.83 50.08
2018-06-30 1,028.12 1,248.42 44.16
2018-03-31 1,055.80 1,272.92 44.08
2017-12-31 1,073.55 1,341.81 56.55
2017-09-30 1,088.47 1,327.53 55.74
2017-06-30 1,114.33 1,382.64 58.88
2017-03-31 1,125.31 1,398.28 47.90
2016-12-31 1,117.38 1,410.84 80.56
2016-09-30 1,005.93 922.18 54.47
2016-06-30 1,075.10 949.67 55.93
2016-03-31 1,213.22 803.73 72.91
2015-12-31 1,170.72 887.00 93.78
2015-09-30 1,059.13 882.82 83.11
2015-06-30 1,062.52 835.65 68.75
2015-03-31 1,133.62 616.45 49.09
2014-12-31 1,080.95 522.38 70.26
2014-09-30 1,041.04 548.28 60.52
2014-06-30 1,057.14 531.02 58.15
2014-03-31 1,005.80 542.91 71.30
2013-12-31 974.73 543.84 110.91
2013-09-30 91.73 138.68 11.12
2013-06-30 25.30 832.07 18.42
2013-03-31 4.42 200.79 25.89
  • BWG's level of debt (90.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (45.3% vs 90.4% today).
  • Debt is well covered by operating cash flow (30.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.3x coverage).
X
Financial health checks
We assess BWG'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. BWG has a total score of 3/6, 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 BWG'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
55.78%
Current annual income from BWG dividends. Estimated to be 26.11% next year.
If you bought €2,000 of BWG shares you are expected to receive €1,116 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?
  • BWG's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.7%).
  • BWG's dividend is above the markets top 25% of dividend payers in Germany (4.97%).
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:BW9 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 9.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 323 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 1%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 5%

Industry and Market average data is calculated daily.

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

DB:BW9 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.40 3.00
2021-12-31 0.78 4.00
2020-12-31 1.08 4.00
2020-03-30
DB:BW9 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-02-28 1.680 50.560
2019-11-21 1.320 16.834
2019-08-29 0.200 3.237
2018-05-30 0.000 0.000
2018-02-28 0.000 0.000
2017-11-23 0.000 0.000
2017-08-25 0.000 0.000
2017-05-29 0.000 0.000
2017-02-27 0.000 0.000
2016-04-28 1.460 39.964
2015-02-27 2.300 31.300
2014-11-20 1.520 21.788
2014-08-27 1.520 13.676
2014-05-22 0.150 1.085

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

  • BWG has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but BWG only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of BWG's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.1x coverage).
X
Income/ dividend checks
We assess BWG's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - 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 BWG afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. BWG has a total score of 4/6, 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 BWG'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
Anders Onarheim
AGE 60
TENURE AS CEO 0.2 years
CEO Bio

Mr. Anders Onarheim serves as Interim Chief Executive Officer at BW LPG Limited since January 01, 2020. Mr. Onarheim served as Director of DHT Holdings, Inc. from October 3, 2018 to November 2019. Mr. Onarheim served as the Chief Executive Officer of Carnegie Bank A/S until September 2011. Mr. Onarheim served as the Head of the Investment Bank of D. Carnegie & Co AB since April 2008 and served as its Chief Executive Officer of Carnegie Investment Bank AB. He served as Head of the Securities and Investment Banking business area of D.Carnegie & Co AB. He served as the Managing Director of Norwegian Operations at Carnegie ASA in Oslo of D. Carnegie & Co AB since 1996 and served as its Acting Chief Executive Officer until April 2008. Prior to Carnegie, Mr. Onarheim served as the Head of Equities of Enskilda Securities Norway from 1994 to 1996. From 1990 to 1994, he served as an Executive Director in the Investment Banking division of Goldman Sachs in the UK. He served as the Vice President for institutional sales in Merrill Lynch in the US and the UK, from 1986 to 1990. He has extensive knowledge within management, business development and capital markets after holding the position of managing director in companies within the investment bank Carnegie Group for more than 16 years. He has been the Chairman of the Board at North Energy AS since November 3, 2014 and has been its Director since February 13, 2014. He serves as the Deputy Chairman of Reach Subsea AS. He served as Deputy Chairman of Reach Subsea ASA. He holds directorships and senior management positions at AB Investment AS, Spitsbergen AS, Norwegian Crystal AS, Arkipel AS, Ly Forsikring AS and Bio Active Foods AS. He has been a Director of Reach Subsea ASA since November 28, 2012. He has been a Non-Executive Director at BW LPG Limited since November 21, 2013. Mr. Onarheim serves as a Member of the Board of Directors at the Association of Norwegian Stockbroking Companies. He holds an MBA from Washington University in St. Louis.

CEO Compensation
  • Insufficient data for Anders to compare compensation growth.
  • Insufficient data for Anders to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the BWG management team in years:

4.2
Average Tenure
45
Average Age
  • The tenure for the BWG management team is about average.
Management Team

Anders Onarheim

TITLE
Interim CEO & Director
AGE
60
TENURE
0.2 yrs

Elaine Ong

TITLE
Chief Financial Officer
AGE
47
TENURE
4.7 yrs

Pontus Berg

TITLE
Executive Vice President of Technical & Operations
AGE
43
TENURE
4.9 yrs

Iver Baatvik

TITLE
Head of Investor Relations

Niels Rigault

TITLE
Executive Vice President of Commercial
AGE
43
TENURE
3.8 yrs
Board of Directors Tenure

Average tenure and age of the BWG board of directors in years:

6.3
Average Tenure
58
Average Age
  • The tenure for the BWG board of directors is about average.
Board of Directors

Andreas Sohmen-Pao

TITLE
Chairman of the Board
AGE
48
TENURE
6.5 yrs

Anders Onarheim

TITLE
Interim CEO & Director
AGE
60
TENURE
6.3 yrs

John Harrison

TITLE
Vice Chairman
AGE
63
TENURE
6.3 yrs

Anne Dalane

TITLE
Independent Director
AGE
59
TENURE
6.3 yrs

Andreas Beroutsos

TITLE
Independent Director
AGE
54
TENURE
6.3 yrs

Martha Kold Bakkevig

TITLE
Independent Director
AGE
57
TENURE
2.6 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 (€)
20. Mar 20 Buy Sohmen Family Foundation Company 19. Mar 20 19. Mar 20 402,770 €2.18 €877,398
19. Mar 20 Buy Sohmen Family Foundation Company 18. Mar 20 18. Mar 20 400,000 €2.27 €908,134
18. Mar 20 Buy Sohmen Family Foundation Company 17. Mar 20 17. Mar 20 409,354 €2.61 €1,069,537
17. Mar 20 Buy Sohmen Family Foundation Company 16. Mar 20 16. Mar 20 80,760 €2.62 €211,781
13. Mar 20 Buy Sohmen Family Foundation Company 12. Mar 20 12. Mar 20 400,000 €2.89 €1,154,313
12. Mar 20 Buy Sohmen Family Foundation Company 11. Mar 20 11. Mar 20 400,000 €3.21 €1,284,717
11. Mar 20 Buy Sohmen Family Foundation Company 10. Mar 20 10. Mar 20 400,000 €3.21 €1,284,547
10. Mar 20 Buy Sohmen Family Foundation Company 10. Mar 20 10. Mar 20 350,000 €3.41 €1,193,249
01. Oct 19 Sell Sohmen Family Foundation Company 30. Sep 19 30. Sep 19 -650,000 €5.43 €-3,530,305
11. Sep 19 Sell Sohmen Family Foundation Company 10. Sep 19 10. Sep 19 -77,579 €5.06 €-392,235
10. Sep 19 Sell Sohmen Family Foundation Company 09. Sep 19 09. Sep 19 -83,386 €5.07 €-422,885
X
Management checks
We assess BWG'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. BWG 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

BW LPG Limited, an investment holding company, engages in shipowning and chartering activities worldwide. It operates through three segments: Very Large Gas Carriers (VLGCs), Large Gas Carriers (LGCs), and Product Services. The company is involved in the transportation of liquefied petroleum gas to oil companies, and trading and utility companies; and product trading and delivery activities. As of February 28, 2020, it had a fleet of 47 vessels, including 35 owned VLGCs, 10 chartered VLGCs, and 2 owned and operated VLGCs by a joint venture with a total carrying capacity of approximately 3 million cubic meters. The company was formerly known as BW Gas LPG Holding Limited and changed its name to BW LPG Limited in September 2013. BW LPG Limited was founded in 1935 and is headquartered in Singapore.

Details
Name: BW LPG Limited
BW9
Exchange: DB
Founded: 1935
NOK377,511,959
138,282,957
Website: http://www.bwlpg.com
Address: BW LPG Limited
10 Pasir Panjang Road,
No. 17-02, Mapletree Business City,
Singapore,
117438,
Singapore
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB BWLPG Ordinary Shares Oslo Bors NO NOK 21. Nov 2013
OTCPK BWLL.F Ordinary Shares Pink Sheets LLC US USD 21. Nov 2013
DB BW9 Ordinary Shares Deutsche Boerse AG DE EUR 21. Nov 2013
LSE 0QIX Ordinary Shares London Stock Exchange GB NOK 21. Nov 2013
BATS-CHIXE BWLPGO Ordinary Shares BATS 'Chi-X Europe' GB NOK 21. Nov 2013
OTCPK BWLL.Y UNSPONSORED ADR Pink Sheets LLC US USD 13. May 2014
Number of employees
Current staff
Staff numbers
2,004
BWG employees.
Industry
Oil and Gas Storage and Transportation
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/30 23:34
End of day share price update: 2020/03/30 00:00
Last estimates confirmation: 2020/03/30
Last earnings filing: 2020/02/27
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


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.