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DHT Holdings

DB:D8EN
Snowflake Description

Second-rate dividend payer and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
D8EN
DB
$1B
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

DHT Holdings, Inc., through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, Oslo, and Norway. The last earnings update was 5 days ago. More info.


Add to Portfolio Compare Print
  • DHT Holdings has significant price volatility in the past 3 months.
D8EN Share Price and Events
7 Day Returns
36.6%
DB:D8EN
18.1%
DE Oil and Gas
7.3%
DE Market
1 Year Returns
-
DB:D8EN
21.9%
DE Oil and Gas
-17.7%
DE Market
D8EN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
DHT Holdings (D8EN) 36.6% 46.7% -3.6% - - -
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
  • No trading data on D8EN.
  • No trading data on D8EN.
Price Volatility
D8EN
Industry
5yr Volatility vs Market
Related Companies

D8EN Value

 Is DHT Holdings 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 DHT Holdings 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 DHT Holdings.

DB:D8EN 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 7.4%
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:D8EN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.5%
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- 21%) (74.42%))
1.19
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.19
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.19 * 6.51%)
7.35%

Discounted Cash Flow Calculation for DB:D8EN using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for DHT Holdings 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:D8EN DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 7.35%)
2020 384.34 Analyst x4 358.00
2021 294.73 Analyst x3 255.73
2022 188.00 Analyst x1 151.95
2023 134.21 Est @ -28.61% 101.04
2024 107.17 Est @ -20.15% 75.16
2025 91.93 Est @ -14.22% 60.05
2026 82.68 Est @ -10.07% 50.31
2027 76.75 Est @ -7.17% 43.50
2028 72.81 Est @ -5.13% 38.44
2029 70.11 Est @ -3.71% 34.48
Present value of next 10 years cash flows $1,168.00
DB:D8EN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $70.11 × (1 + -0.39%) ÷ (7.35% – -0.39%)
$901.71
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $901.71 ÷ (1 + 7.35%)10
$443.46
DB:D8EN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,168.00 + $443.46
$1,611.46
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,611.46 / 146.95
$10.97
DB:D8EN Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:D8EN represents 0.84906x of NYSE:DHT
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.84906x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 10.97 x 0.84906
€9.31
Value per share (EUR) From above. €9.31
Current discount Discount to share price of €6.75
= -1 x (€6.75 - €9.31) / €9.31
27.5%

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

Current Discount
Amount off the current price DHT Holdings is available for.
Intrinsic value
28%
Share price is €6.75 vs Future cash flow value of €9.31
Current Discount Checks
For DHT Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • DHT Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • DHT Holdings's share price is below the future cash flow value, but not 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 DHT Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are DHT Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:D8EN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $0.51
NYSE:DHT Share Price ** NYSE (2020-03-30) in USD $7.95
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 DHT Holdings.

DB:D8EN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:DHT Share Price ÷ EPS (both in USD)

= 7.95 ÷ 0.51

15.48x

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

  • DHT Holdings is overvalued based on earnings compared to the Europe Oil and Gas industry average.
  • DHT Holdings is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does DHT Holdings's expected growth come at a high price?
Raw Data
DB:D8EN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.48x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
-9.4%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:D8EN PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 15.48x ÷ -9.4%

-1.64x

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

  • DHT Holdings 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 DHT Holdings's assets?
Raw Data
DB:D8EN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $6.35
NYSE:DHT Share Price * NYSE (2020-03-30) in USD $7.95
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:D8EN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:DHT Share Price ÷ Book Value per Share (both in USD)

= 7.95 ÷ 6.35

1.25x

* Primary Listing of DHT Holdings.

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

  • DHT Holdings is overvalued based on assets compared to the DE Oil and Gas industry average.
X
Value checks
We assess DHT Holdings'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. DHT Holdings has a total score of 2/6, 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.

D8EN Future Performance

 How is DHT Holdings 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
-9.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is DHT Holdings expected to grow at an attractive rate?
  • DHT Holdings'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
  • DHT Holdings's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • DHT Holdings'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:D8EN Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:D8EN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts -9.4%
DB:D8EN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts -16%
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:D8EN 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:D8EN Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 369 202 114 2
2021-12-31 373 365 101 3
2020-12-31 636 431 378 3
2020-03-30
DB:D8EN Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 535 156 74
2019-09-30 482 134 10
2019-06-30 467 108 -2
2019-03-31 428 73 -20
2018-12-31 376 54 -47
2018-09-30 330 33 -66
2018-06-30 324 55 -50
2018-03-31 343 78 -17
2017-12-31 355 102 7
2017-09-30 348 123 32
2017-06-30 328 166 -39
2017-03-31 341 176 -8

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • DHT Holdings's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • DHT Holdings'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:D8EN 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 DHT Holdings Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:D8EN Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 0.78 1.04 0.51 2.00
2021-12-31 1.51 2.21 0.81 2.00
2020-12-31 2.32 2.62 1.64 4.00
2020-03-30
DB:D8EN Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 0.51
2019-09-30 0.07
2019-06-30 -0.02
2019-03-31 -0.14
2018-12-31 -0.33
2018-09-30 -0.46
2018-06-30 -0.35
2018-03-31 -0.12
2017-12-31 0.05
2017-09-30 0.28
2017-06-30 -0.39
2017-03-31 -0.08

*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.
  • DHT Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess DHT Holdings'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.
DHT Holdings 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.

D8EN Past Performance

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

DB:D8EN Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 535.07 73.68 14.79
2019-09-30 481.85 9.81 13.94
2019-06-30 467.29 -2.28 13.86
2019-03-31 428.34 -19.99 13.81
2018-12-31 375.94 -46.93 15.05
2018-09-30 329.57 -66.42 14.05
2018-06-30 323.76 -50.02 14.46
2018-03-31 342.86 -16.96 15.86
2017-12-31 355.05 6.60 17.18
2017-09-30 347.70 31.95 20.12
2017-06-30 328.15 -38.69 20.44
2017-03-31 340.56 -7.93 19.20
2016-12-31 356.01 9.26 19.39
2016-09-30 365.77 23.86 19.85
2016-06-30 392.90 127.02 20.24
2016-03-31 377.03 113.61 20.64
2015-12-31 365.11 105.30 21.61
2015-09-30 343.32 101.35 21.06
2015-06-30 285.43 66.83 22.06
2015-03-31 221.92 36.59 20.32
2014-12-31 150.79 12.89 18.06
2014-09-30 108.88 -4.13 13.43
2014-06-30 92.14 -1.18 10.07
2014-03-31 92.27 -0.87 9.38
2013-12-31 87.01 -4.13 8.83
2013-09-30 76.65 -21.85 8.88
2013-06-30 83.94 -114.47 8.93
2013-03-31 88.14 -104.04 8.79

*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.
  • DHT Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • DHT Holdings used its assets more efficiently than the Europe Oil and Gas industry average last year based on Return on Assets.
  • DHT Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess DHT Holdings'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.
DHT Holdings has a total score of 1/6, 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.

D8EN Health

 How is DHT Holdings'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 DHT Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • DHT Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • DHT Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of DHT Holdings'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 0.3x 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 DHT Holdings Company Filings, last reported 2 months ago.

DB:D8EN Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 932.45 866.57 67.36
2019-09-30 836.73 964.44 115.35
2019-06-30 848.59 921.28 70.98
2019-03-31 869.56 928.99 69.29
2018-12-31 861.67 973.01 94.94
2018-09-30 857.39 935.24 86.69
2018-06-30 879.89 855.99 76.93
2018-03-31 910.51 764.63 69.76
2017-12-31 925.89 786.75 77.29
2017-09-30 935.65 826.97 86.55
2017-06-30 942.62 842.56 104.01
2017-03-31 693.37 676.56 72.18
2016-12-31 685.01 704.19 109.30
2016-09-30 668.20 688.78 71.54
2016-06-30 764.00 618.45 65.05
2016-03-31 750.61 660.40 77.53
2015-12-31 737.89 668.40 166.78
2015-09-30 720.54 629.96 158.17
2015-06-30 705.36 636.31 137.08
2015-03-31 695.58 663.81 176.45
2014-12-31 674.85 670.82 166.68
2014-09-30 647.88 650.71 134.39
2014-06-30 488.71 202.63 146.22
2014-03-31 497.81 203.50 219.98
2013-12-31 284.75 156.05 126.07
2013-09-30 167.19 156.00 50.00
2013-06-30 171.09 155.96 43.08
2013-03-31 178.72 202.71 75.48
  • DHT Holdings's level of debt (92.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (99.4% vs 92.9% today).
  • Debt is not well covered by operating cash flow (18%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.2x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess DHT Holdings'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. DHT Holdings has a total score of 2/6, 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.

D8EN Dividends

 What is DHT Holdings'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
5.91%
Current annual income from DHT Holdings dividends. Estimated to be 11.21% next year.
If you bought €2,000 of DHT Holdings shares you are expected to receive €118 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?
  • DHT Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.7%).
  • DHT Holdings'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:D8EN 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:D8EN Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.51 2.00
2021-12-31 0.57 3.00
2020-12-31 1.33 4.00
2020-03-30
DB:D8EN Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-03-25 0.470 6.844
2020-02-05 0.470 8.347
2019-05-08 0.320 5.034
2019-02-06 0.200 4.330
2018-11-05 0.080 1.847
2018-02-06 0.140 3.362
2017-01-30 0.580 14.032
2016-05-16 1.000 22.638
2016-02-03 0.840 14.510
2015-11-06 0.720 10.266
2015-07-28 0.600 7.827
2015-04-29 0.600 7.464
2015-01-28 0.200 2.777
2014-11-11 0.080 1.152
2014-08-27 0.080 1.263
2014-04-29 0.080 1.131
2014-03-03 0.080 1.010
2014-01-22 0.080 1.021
2013-10-30 0.080 1.316
2013-08-06 0.080 1.811
2013-04-29 0.080 1.796
2013-01-29 0.080 1.817
2012-10-23 0.080 1.956
2012-07-23 0.960 15.936
2012-05-02 0.960 12.392
2012-01-23 1.440 12.354
2011-10-25 1.440 13.170
2011-07-13 4.800 15.924
2011-04-18 4.800 10.071
2011-01-13 4.800 8.404
2010-10-26 4.800 8.800
2010-08-26 4.800 9.964
2010-05-19 4.800 9.818
2010-03-25 0.000 0.000
2010-02-16 0.000 0.000
2009-11-24 0.000 0.000
2009-09-02 0.000 0.000
2009-05-19 12.000 19.749

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of DHT Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.5x coverage).
X
Income/ dividend checks
We assess DHT Holdings'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 DHT Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. DHT Holdings has a total score of 3/6, see the detailed checks below.


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

D8EN Management

 What is the CEO of DHT Holdings'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
Trygve Munthe
COMPENSATION $1,932,263
AGE 57
TENURE AS CEO 5.8 years
CEO Bio

Mr. Trygve Preben Munthe has been Co-Chief Executive Officer of DHT Holdings, Inc. since June 23, 2014 and served as its President since September 1, 2010. Mr. Munthe served as Chief Operating Officer of DHT Holdings, Inc. since September 1, 2010. He has over 30 years of experience in the shipping industry. He served as the Chief Executive Officer of Western Bulk AS (also known as Western Bulk Carriers Holding ASA) since January 1, 2005. He joined DHT Holdings, Inc. on September 1, 2010 from Skaugen Petrotrans Inc. in Houston, where he served as the President and Chief Executive Officer for 11 years. He served as the Chief Financial Officer of I.M. Skaugen. He served as Director of the Norwegian shipowner Arne Blystad. Mr. Munthe currently serves as Chairman of the board of Ness, Risan & Partners AS. He holds an MBA from Monterey Institute of International Studies in California and an MA in Economics and Political Science from the University of Oslo.

CEO Compensation
  • Trygve's compensation has increased in line with DHT Holdings recently becoming profitable.
  • Insufficient data for Trygve to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the DHT Holdings management team in years:

5.8
Average Tenure
52
Average Age
  • The average tenure for the DHT Holdings management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Trygve Munthe

TITLE
Co-Chief Executive Officer
COMPENSATION
$2M
AGE
57
TENURE
5.8 yrs

Arnet Harfjeld

TITLE
Co-Chief Executive Officer
COMPENSATION
$2M
AGE
55
TENURE
5.8 yrs

Laila Halvorsen

TITLE
Chief Financial Officer
AGE
44
TENURE
1.8 yrs

J. Eglin

TITLE
Director of Chartering & Operations

Svenn Edvardsen

TITLE
Technical Director
COMPENSATION
$2M
AGE
49
TENURE
9.3 yrs

Donald Puglisi

TITLE
Managing Director of Puglisi & Associates
Board of Directors Tenure

Average tenure and age of the DHT Holdings board of directors in years:

3.6
Average Tenure
64
Average Age
  • The tenure for the DHT Holdings board of directors is about average.
Board of Directors

Erik Lind

TITLE
Chairman
AGE
64

Einar Steimler

TITLE
Independent Director
AGE
71
TENURE
10 yrs

Joe Pyne

TITLE
Independent Director
AGE
71
TENURE
4.5 yrs

Jeremy Kramer

TITLE
Independent Director
AGE
57
TENURE
2.8 yrs

Susan Reedy

TITLE
Director
AGE
45
TENURE
2.3 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 (€)
22. Nov 19 Sell Sohmen Family Foundation Company 26. Sep 19 19. Nov 19 -15,507,800 €7.13 €-96,801,799
21. May 19 Sell Sohmen Family Foundation Company 15. May 19 20. May 19 -1,907,049 €5.43 €-10,214,241
X
Management checks
We assess DHT Holdings'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. DHT Holdings 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.

D8EN News

Simply Wall St News

D8EN Company Info

Description

DHT Holdings, Inc., through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, Oslo, and Norway. As of March 19, 2020, it had a fleet of 27 very large crude carriers with a capacity of 8,360,850 deadweight tons. The company was founded in 2005 and is headquartered in Hamilton, Bermuda.

Details
Name: DHT Holdings, Inc.
D8EN
Exchange: DB
Founded: 2005
$1,053,611,437
146,945,050
Website: http://www.dhtankers.com
Address: DHT Holdings, Inc.
Clarendon House,
2 Church Street,
Hamilton,
HM 11,
Bermuda
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE DHT Common Shares New York Stock Exchange US USD 13. Oct 2005
DB D8EN Common Shares Deutsche Boerse AG DE EUR 13. Oct 2005
BMV DHT N Common Shares Bolsa Mexicana de Valores MX MXN 13. Oct 2005
Number of employees
Current staff
Staff numbers
17
DHT Holdings 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 22:36
End of day share price update: 2020/03/30 00:00
Last estimates confirmation: 2020/03/30
Last earnings filing: 2020/03/25
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.