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KNOT Offshore Partners

DB:KO4
Snowflake Description

Undervalued with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
KO4
DB
$335M
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

KNOT Offshore Partners LP owns and operates shuttle tankers under long-term charters in the North Sea and Brazil. The last earnings update was 11 days ago. More info.


Add to Portfolio Compare Print
  • KNOT Offshore Partners is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • KNOT Offshore Partners has significant price volatility in the past 3 months.
KO4 Share Price and Events
7 Day Returns
9.5%
DB:KO4
18.1%
DE Oil and Gas
7.3%
DE Market
1 Year Returns
-46.7%
DB:KO4
21.9%
DE Oil and Gas
-17.7%
DE Market
KO4 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
KNOT Offshore Partners (KO4) 9.5% -37.9% -47.2% -46.7% -58.4% -59.3%
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
  • KO4 underperformed the Oil and Gas industry which returned 21.9% over the past year.
  • KO4 underperformed the Market in Germany which returned -17.7% over the past year.
Price Volatility
KO4
Industry
5yr Volatility vs Market

Value

 Is KNOT Offshore Partners 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 KNOT Offshore Partners 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 KNOT Offshore Partners.

DB:KO4 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.8%
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:KO4
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 0.81
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.808 (1 + (1- 19%) (299.1%))
2.183
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 * 6.07%)
11.75%

Discounted Cash Flow Calculation for DB:KO4 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for KNOT Offshore Partners 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:KO4 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 11.75%)
2020 169.24 Est @ 2.36% 151.45
2021 171.84 Est @ 1.53% 137.60
2022 173.48 Est @ 0.96% 124.31
2023 174.44 Est @ 0.55% 111.85
2024 174.91 Est @ 0.27% 100.36
2025 175.03 Est @ 0.07% 89.87
2026 174.92 Est @ -0.07% 80.37
2027 174.63 Est @ -0.16% 71.80
2028 174.23 Est @ -0.23% 64.10
2029 173.74 Est @ -0.28% 57.20
Present value of next 10 years cash flows $988.00
DB:KO4 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $173.74 × (1 + -0.39%) ÷ (11.75% – -0.39%)
$1,425.55
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $1,425.55 ÷ (1 + 11.75%)10
$469.36
DB:KO4 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $988.00 + $469.36
$1,457.36
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,457.36 / 33.31
$43.75
DB:KO4 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:KO4 represents 0.9136x of NYSE:KNOP
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.9136x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 43.75 x 0.9136
€39.97
Value per share (EUR) From above. €39.97
Current discount Discount to share price of €9.20
= -1 x (€9.20 - €39.97) / €39.97
77%

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

Current Discount
Amount off the current price KNOT Offshore Partners is available for.
Intrinsic value
>50%
Share price is €9.2 vs Future cash flow value of €39.97
Current Discount Checks
For KNOT Offshore Partners to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • KNOT Offshore Partners's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • KNOT Offshore Partners'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 KNOT Offshore Partners's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are KNOT Offshore Partners's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:KO4 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $1.55
NYSE:KNOP Share Price ** NYSE (2020-03-30) in USD $10.07
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 KNOT Offshore Partners.

DB:KO4 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 10.07 ÷ 1.55

6.48x

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

  • KNOT Offshore Partners is overvalued based on earnings compared to the Europe Oil and Gas industry average.
  • KNOT Offshore Partners is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does KNOT Offshore Partners's expected growth come at a high price?
Raw Data
DB:KO4 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.48x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
28.2%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:KO4 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 6.48x ÷ 28.2%

0.23x

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

  • KNOT Offshore Partners is good value based on expected growth next year.
Price based on value of assets
What value do investors place on KNOT Offshore Partners's assets?
Raw Data
DB:KO4 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $18.69
NYSE:KNOP Share Price * NYSE (2020-03-30) in USD $10.07
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:KO4 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 10.07 ÷ 18.69

0.54x

* Primary Listing of KNOT Offshore Partners.

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

  • KNOT Offshore Partners is good value based on assets compared to the DE Oil and Gas industry average.
X
Value checks
We assess KNOT Offshore Partners'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. KNOT Offshore Partners 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 KNOT Offshore Partners expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

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
28.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is KNOT Offshore Partners expected to grow at an attractive rate?
  • KNOT Offshore Partners's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • KNOT Offshore Partners's earnings growth is expected to exceed the Germany market average.
  • KNOT Offshore Partners's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:KO4 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:KO4 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 28.2%
DB:KO4 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 9.1%
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:KO4 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:KO4 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 338 203 96 1
2020-12-31 296 178 85 1
2020-03-30
DB:KO4 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 283 166 52
2019-09-30 283 158 37
2019-06-30 283 152 44
2019-03-31 282 156 57
2018-12-31 279 149 75
2018-09-30 268 110 87
2018-06-30 255 135 85
2018-03-31 238 137 80
2017-12-31 214 155 63
2017-09-30 199 184 65
2017-06-30 185 154 66
2017-03-31 175 130 62

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • KNOT Offshore Partners's earnings are expected to grow significantly at over 20% yearly.
  • KNOT Offshore Partners's revenue is expected to grow by 9.1% 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.
Raw Data
DB:KO4 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 1 Analyst Estimates (S&P Global) See Below

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

DB:KO4 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 2.46 2.67 2.24 2.00
2020-12-31 2.05 2.05 2.05 1.00
2020-03-30
DB:KO4 Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 1.55
2019-09-30 1.11
2019-06-30 1.31
2019-03-31 1.71
2018-12-31 2.25
2018-09-30 2.63
2018-06-30 2.64
2018-03-31 2.55
2017-12-31 2.05
2017-09-30 2.21
2017-06-30 2.27
2017-03-31 2.18

*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.
  • Unable to establish if KNOT Offshore Partners will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess KNOT Offshore Partners'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.
KNOT Offshore Partners has a total score of 4/6, 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 KNOT Offshore Partners 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 KNOT Offshore Partners'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.
  • KNOT Offshore Partners's year on year earnings growth rate has been positive over the past 5 years.
  • KNOT Offshore Partners's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • KNOT Offshore Partners's 1-year earnings growth is negative, it can't be compared to the Europe Oil and Gas industry average.
Earnings and Revenue History
KNOT Offshore Partners'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 KNOT Offshore Partners Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:KO4 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 282.56 51.76 4.86
2019-09-30 283.41 36.82 4.94
2019-06-30 283.12 43.61 5.06
2019-03-31 281.51 57.11 5.14
2018-12-31 279.01 74.97 5.19
2018-09-30 267.91 86.72 5.11
2018-06-30 255.41 84.93 5.09
2018-03-31 238.23 80.31 5.23
2017-12-31 214.03 62.81 5.36
2017-09-30 199.18 65.47 5.35
2017-06-30 184.55 65.55 4.98
2017-03-31 175.49 61.87 4.43
2016-12-31 173.67 61.10 4.27
2016-09-30 171.21 59.17 4.12
2016-06-30 166.91 48.61 4.39
2016-03-31 160.83 43.92 4.53
2015-12-31 155.02 40.44 4.19
2015-09-30 147.17 28.78 3.96
2015-06-30 142.15 32.54 3.77
2015-03-31 127.29 28.15 4.35
2014-12-31 112.84 27.39 4.22
2014-09-30 100.38 29.39 4.49
2014-06-30 86.56 23.18 4.47
2014-03-31 81.71 28.19 6.17
2013-12-31 73.15 18.60 5.36
2013-09-30 67.75 12.18 8.86
2013-06-30 63.85 5.97 7.68
2013-03-31 60.94 -1.98 4.79

*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.
  • KNOT Offshore Partners has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • KNOT Offshore Partners used its assets more efficiently than the Europe Oil and Gas industry average last year based on Return on Assets.
  • KNOT Offshore Partners has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess KNOT Offshore Partners'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.
KNOT Offshore Partners 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 KNOT Offshore Partners'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 KNOT Offshore Partners's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • KNOT Offshore Partners's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • KNOT Offshore Partners's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of KNOT Offshore Partners'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 0.1x 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 KNOT Offshore Partners Company Filings, last reported 2 months ago.

DB:KO4 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 711.66 1,001.44 44.20
2019-09-30 707.73 1,028.30 44.85
2019-06-30 713.42 1,042.41 44.29
2019-03-31 725.07 1,060.53 43.11
2018-12-31 732.04 1,077.64 46.33
2018-09-30 743.04 1,105.83 56.02
2018-06-30 741.95 1,109.26 48.78
2018-03-31 740.10 1,133.70 44.05
2017-12-31 729.21 1,027.74 47.05
2017-09-30 662.67 1,004.93 38.36
2017-06-30 658.97 908.33 66.78
2017-03-31 620.24 781.59 34.85
2016-12-31 521.71 743.97 27.66
2016-09-30 517.23 641.96 27.38
2016-06-30 512.90 658.01 25.67
2016-03-31 516.42 659.43 28.78
2015-12-31 520.77 672.05 23.57
2015-09-30 520.61 618.66 67.20
2015-06-30 526.53 624.16 71.40
2015-03-31 415.09 609.83 32.75
2014-12-31 419.37 617.93 30.75
2014-09-30 424.92 540.06 44.44
2014-06-30 404.37 549.48 34.45
2014-03-31 280.74 345.64 25.34
2013-12-31 281.93 352.10 28.84
2013-09-30 281.64 357.24 28.48
2013-06-30 280.83 217.45 25.22
2013-03-31 97.19 375.73 1.29
  • KNOT Offshore Partners's level of debt (140.7%) 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 (147.3% vs 140.7% today).
  • Debt is not well covered by operating cash flow (16.5%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.9x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess KNOT Offshore Partners'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. KNOT Offshore Partners has a total score of 1/6, 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 KNOT Offshore Partners'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
20.66%
Current annual income from KNOT Offshore Partners dividends. Estimated to be 22.19% next year.
If you bought €2,000 of KNOT Offshore Partners shares you are expected to receive €413 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?
  • KNOT Offshore Partners's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.7%).
  • KNOT Offshore Partners'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:KO4 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 1 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:KO4 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 2.39 1.00
2020-12-31 2.08 1.00
2020-03-30
DB:KO4 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-01-15 2.080 13.703
2019-10-15 2.080 10.708
2019-07-16 2.080 10.939
2019-04-17 2.080 10.701
2019-01-15 2.080 11.043
2018-10-15 2.080 10.561
2018-07-13 2.080 9.479
2018-04-16 2.080 9.881
2018-01-16 2.080 10.190
2017-10-13 2.080 9.754
2017-07-18 2.080 8.946
2017-04-18 2.080 9.144
2017-01-17 2.080 9.348
2016-10-13 2.080 9.616
2016-07-15 2.080 10.785
2016-04-15 2.080 11.322
2016-01-15 2.080 14.171
2015-10-15 2.080 14.496
2015-07-16 2.040 12.200
2015-04-17 2.040 9.013
2015-02-18 1.960 8.441
2014-10-15 1.960 8.817
2014-09-26 1.960 8.276
2014-08-14 1.960 7.237
2014-07-14 1.740 6.373
2014-04-15 1.740 6.292
2014-01-22 1.740 6.288
2013-10-23 1.740 6.581
2013-09-06 1.500 6.161
2013-08-26 1.500 6.205
2013-07-23 1.500 6.321

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

  • Whilst dividend payments have been stable, KNOT Offshore Partners has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but KNOT Offshore Partners only paid a dividend in the past 7 years.
Current Payout to shareholders
What portion of KNOT Offshore Partners's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.1x coverage).
X
Income/ dividend checks
We assess KNOT Offshore Partners'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 KNOT Offshore Partners afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. KNOT Offshore Partners 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.

Management

 What is the CEO of KNOT Offshore Partners'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
Gary Chapman
COMPENSATION $102,198
AGE 44
TENURE AS CEO 0.8 years
CEO Bio

Mr. Gary Chapman has been Chief Executive Officer and Chief Financial Officer at KNOT Offshore Partners LP since June 1, 2019. Mr. Chapman served as the Chief Financial Officer of Biggin Hill Airport Ltd, until December 1, 2019. From 2008 to July 2017, Mr. Chapman served as the finance director of NYK Energy Transport (Atlantic) Limited and from 2003 to 2008 as the European head of tax for the NYK Group Europe. Prior to 2003, Mr. Chapman served in various roles for KPMG. Mr. Chapman is a fellow of the Institute of Chartered Accountants in England and Wales.

CEO Compensation
  • Insufficient data for Gary to compare compensation growth.
  • Gary's remuneration is lower than average for companies of similar size in Germany.
Management Team

Gary Chapman

TITLE
CEO & CFO
COMPENSATION
$102K
AGE
44
TENURE
0.8 yrs
Board of Directors Tenure

Average tenure and age of the KNOT Offshore Partners board of directors in years:

6.8
Average Tenure
68
Average Age
  • The tenure for the KNOT Offshore Partners board of directors is about average.
Board of Directors

Trygve Seglem

TITLE
Chairman of the Board
AGE
68
TENURE
7 yrs

Hans Aas

TITLE
Independent Director
AGE
73
TENURE
6.8 yrs

Ed Waryas

TITLE
Independent Director
AGE
73
TENURE
6.8 yrs

Andrew Beveridge

TITLE
Independent Director
AGE
71
TENURE
6.8 yrs

Simon Bird

TITLE
Independent Director
AGE
59
TENURE
4.8 yrs

Takuji Banno

TITLE
Director
AGE
52
TENURE
3.9 yrs

Richard Beyer

TITLE
Director
AGE
50
TENURE
2.9 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 KNOT Offshore Partners'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. KNOT Offshore Partners 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

KNOT Offshore Partners LP owns and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, and storage of crude oil under time charters and bareboat charters. As of March 19, 2020, it had a fleet of sixteen shuttle tankers. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.

Details
Name: KNOT Offshore Partners LP
KO4
Exchange: DB
Founded: 2013
$302,518,684
33,309,211
Website: http://www.knotoffshorepartners.com
Address: KNOT Offshore Partners LP
2 Queens Cross,
Aberdeen,
Aberdeenshire, AB15 4YB,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE KNOP Common Units New York Stock Exchange US USD 10. Apr 2013
DB KO4 Common Units Deutsche Boerse AG DE EUR 10. Apr 2013
Number of employees
Current staff
Staff numbers
1
KNOT Offshore Partners 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 23:01
End of day share price update: 2020/03/30 00:00
Last estimates confirmation: 2020/03/24
Last earnings filing: 2020/03/19
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.