Discounted Cash Flow Calculation for DB:GSH using Dividend Discount Model Model
The calculations below outline how an intrinsic value for
is arrived at by discounting future dividends to their present value. This
approach is used for finance firms where free cash flow is difficult to estimate
(e.g. Banks/ Insurance firms).
If the firm does not pay the majority of its earnings out as a dividend this
method will often arrive at a value significantly lower than the share price.
The current share price of
is above its future cash flow value.
Often investors are willing to pay a
for a company that has a high dividend or the potential for future growth.
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
is considered below, and whether this is a fair price.
Price based on past earnings
Bourbon Corporation's earnings available for a low price, and how does
this compare to other companies in the same industry?
Bourbon Corporation is not considered high growth as it is expected to be loss making for the next 1-3 years.
Bourbon Corporation's revenue is expected to grow by 14.3% yearly, however this is not considered high growth (20% yearly).
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.
Bourbon Corporation's performance over the past 5 years by checking for:
Has earnings increased in past 5 years? (1 check)
Has the earnings growth in the last year exceeded that of the
industry? (1 check)
Is the recent earnings growth over the last year higher than the average annual growth over the
past 5 years? (1 check)
Is the Return on Equity (ROE) higher than 20%? (1 check)
Is the Return on Assets (ROA) above industry average? (1 check)
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.
has a total score of
0/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
A company's financial position is much like your own financial position,
it includes everything you own
The boxes below represent the relative size of what makes up
Bourbon Corporation's finances.
The net worth of a company is the difference between its assets and liabilities.
Bourbon Corporation's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
Bourbon Corporation's cash and other short term assets cover its long term commitments.
This treemap shows a more detailed breakdown of
Bourbon Corporation'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
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 0.5x debt.
Nearly all companies have debt. Debt in itself isn’t
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.
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.
TENURE AS CEO
Mr. Gaël Bodénès has been Chief Executive Officer at Bourbon Corporation SA since October 19, 2017 and served as its Executive Vice President from May 26, 2016 to 2018. Mr. Bodénès served as the Chief Operating Officer of Bourbon Corporation SA until October 19, 2017. Mr. Bodénès served as the Chief Operating Officer and Executive Vice President of Bourbon and Bourbon Offshore since January 1, 2011 until June 10, 2016. Mr. Bodénès served as an Executive Vice President of Offshore Division for Business Management at Bourbon from 2010 to January 1, 2011. He began his career for French Navy (DGA) as a naval engineer in the Newbuilding design department, then joined the sales department of the DCN in Brest (France). In 1998, he joined International Shipbrokers Barry Rogliano Salles as senior offshore shipbroker. In September 2002, he joined BOURBON as Marketing and Business Development Manager for the Offshore Division. In this position created in the context of the 2003-2007 strategic business plan involving an investment programme of 1.08bn euros in the offshore business, he supervises the business management of the offshore oil services international fleet. Since September 2005, he served as Deputy Chief Executive Officer of Bourbon Offshore. Mr. Bodénès is a naval engineer graduate in 1991 from ENSIETA (French Navy High School of Naval Engineering). He holds an MBA Degree awarded by HEC Paris (Hautes Etudes Commerciales) in 2007.
Gaël's compensation has been consistent with company performance over the past year, both up more than 20%.
Gaël's remuneration is lower than average for companies of similar size in Germany.
Jacques de Chateauvieux
Executive Chairman of the Board
Chief Executive Officer
Chief Financial Officer
Board of Directors Tenure
Average tenure and age of the
board of directors in years:
The tenure for the Bourbon Corporation board of directors is about average.
Board of Directors
Jacques de Chateauvieux
Executive Chairman of the Board
Adrien de de Saint-André
Employees Representing Director
Henri de Chateauvieux
Member of Corporate Board
Who owns this company?
Recent Insider Trading
No 3 month open market individual insider trading information.
Bourbon Corporation SA provides marine and subsea services for oil and gas fields and wind farms. It operates through Marine Services and Subsea Services segments. The Marine Services segment offers offshore installation supply; offshore installation anchor handling, towage, and positioning; offshore oil and gas production and storage terminal support; personnel transport; and assistance, salvage, and pollution remediation services. The Subsea Services segment provides offshore operations engineering, supervision, and management; offshore field and wind farm development support; submarine infrastructure inspection, maintenance, and repair; remotely operated vehicles; and subsea well stimulation services. As of December 31, 2017, Bourbon Corporation SA operated through a fleet of approximately 508 vessels in 45 countries worldwide. Bourbon Corporation SA has a strategic partnership agreement with Bureau Veritas to develop and deploy automation and real time monitoring fleet applications and developing digital technologies. The company was formerly known as Bourbon SA and changed its name to Bourbon Corporation SA in 2016. Bourbon Corporation SA was founded in 1948 and is headquartered in Marseille, France.
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