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Petrofac

DB:P2F
Snowflake Description

Good value with reasonable growth potential and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
P2F
DB
£689M
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

Petrofac Limited, an oilfield service company, provides services to the oil and gas production and processing industry worldwide. The last earnings update was 41 days ago. More info.


Add to Portfolio Compare Print
  • Petrofac has significant price volatility in the past 3 months.
P2F Share Price and Events
7 Day Returns
3.3%
DB:P2F
8.1%
Europe Energy Services
-0.6%
DE Market
1 Year Returns
-61.8%
DB:P2F
-57.2%
Europe Energy Services
-20.9%
DE Market
P2F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Petrofac (P2F) 3.3% -28.1% -49.8% -61.8% -78.2% -84%
Europe Energy Services 8.1% -27.8% -50.1% -57.2% -65.6% -87.6%
DE Market -0.6% -16.6% -26% -20.9% -25.8% -31.8%
1 Year Return vs Industry and Market
  • P2F underperformed the Energy Services industry which returned -57.2% over the past year.
  • P2F underperformed the Market in Germany which returned -20.9% over the past year.
Price Volatility
P2F
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Petrofac 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 Petrofac 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 Petrofac.

DB:P2F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 14 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.3%
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:P2F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Energy Services Unlevered Beta Simply Wall St/ S&P Global 0.91
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.912 (1 + (1- 20%) (171.41%))
1.778
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.78
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.778 * 5.44%)
9.28%

Discounted Cash Flow Calculation for DB:P2F using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Petrofac 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:P2F DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.28%)
2020 120.60 Analyst x8 110.36
2021 245.51 Analyst x8 205.57
2022 227.88 Analyst x6 174.60
2023 298.10 Analyst x3 209.00
2024 508.90 Analyst x1 326.49
2025 604.08 Est @ 18.7% 354.63
2026 682.45 Est @ 12.97% 366.60
2027 743.63 Est @ 8.97% 365.54
2028 789.43 Est @ 6.16% 355.08
2029 822.54 Est @ 4.19% 338.55
Present value of next 10 years cash flows $2,806.00
DB:P2F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $822.54 × (1 + -0.39%) ÷ (9.28% – -0.39%)
$8,470.09
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $8,470.09 ÷ (1 + 9.28%)10
$3,486.20
DB:P2F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $2,806.00 + $3,486.20
$6,292.20
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $6,292.20 / 335.86
$18.73
DB:P2F Discount to Share Price
Calculation Result
Exchange Rate USD/GBP
(Reporting currency to currency of LSE:PFC)
0.814
Value per Share
(GBP)
= Value per Share in USD x Exchange Rate (USD/GBP)
= $18.73 x 0.814
£15.25
Non-primary Listing Adjustment Factor 1 share in DB:P2F represents 1.11318x of LSE:PFC
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.11318x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (GBP) x Listing Adjustment Factor
= £ 15.25 x 1.11318
€16.97
Value per share (EUR) From above. €16.97
Current discount Discount to share price of €2.28
= -1 x (€2.28 - €16.97) / €16.97
86.6%

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

Current Discount
Amount off the current price Petrofac is available for.
Intrinsic value
>50%
Share price is €2.28 vs Future cash flow value of €16.97
Current Discount Checks
For Petrofac to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Petrofac's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Petrofac'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 Petrofac's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Petrofac's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:P2F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $0.22
LSE:PFC Share Price ** LSE (2020-04-06) in GBP £2.05
LSE:PFC Share Price converted to USD reporting currency Exchange rate (GBP/ USD) 1.229 $2.52
Europe Energy Services Industry PE Ratio Median Figure of 31 Publicly-Listed Energy Services Companies 8.85x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 16.45x

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

** Primary Listing of Petrofac.

DB:P2F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= LSE:PFC Share Price ÷ EPS (both in USD)

= 2.52 ÷ 0.22

11.59x

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

  • Petrofac is overvalued based on earnings compared to the Europe Energy Services industry average.
  • Petrofac is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Petrofac's expected growth come at a high price?
Raw Data
DB:P2F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.59x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts
26.5%per year
Europe Energy Services Industry PEG Ratio Median Figure of 20 Publicly-Listed Energy Services Companies 0.51x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.16x

*Line of best fit is calculated by linear regression .

DB:P2F PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.59x ÷ 26.5%

0.44x

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

  • Petrofac is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Petrofac's assets?
Raw Data
DB:P2F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $1.88
LSE:PFC Share Price * LSE (2020-04-06) in GBP £2.05
LSE:PFC Share Price converted to USD reporting currency Exchange rate (GBP/ USD) 1.229 $2.52
Europe Energy Services Industry PB Ratio Median Figure of 70 Publicly-Listed Energy Services Companies 0.4x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
DB:P2F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= LSE:PFC Share Price ÷ Book Value per Share (both in USD)

= 2.52 ÷ 1.88

1.34x

* Primary Listing of Petrofac.

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

  • Petrofac is overvalued based on assets compared to the Europe Energy Services industry average.
X
Value checks
We assess Petrofac'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 Energy Services 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 Energy Services industry average (and greater than 0)? (1 check)
  5. Petrofac has a total score of 4/6, see the detailed checks below.

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

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

Future Performance

 How is Petrofac expected to perform in the next 1 to 3 years based on estimates from 14 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
26.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Petrofac expected to grow at an attractive rate?
  • Petrofac's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Petrofac's earnings growth is expected to exceed the Germany market average.
  • Petrofac'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:P2F Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:P2F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts 26.5%
DB:P2F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts -5.1%
Europe Energy Services Industry Earnings Growth Rate Market Cap Weighted Average 21.1%
Europe Energy Services Industry Revenue Growth Rate Market Cap Weighted Average -0.4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4%

*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:P2F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:P2F Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 4,553 291 213 2
2023-12-31 4,099 272 190 3
2022-12-31 4,787 323 205 11
2021-12-31 4,755 336 200 14
2020-12-31 4,980 302 71 14
2020-04-06
DB:P2F Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 5,530 238 73
2019-09-30 5,698 565 147
2019-06-30 5,865 822 220
2019-03-31 5,847 653 142
2018-12-31 5,829 553 64
2018-09-30 5,942 435 -26
2018-06-30 6,054 317 -116
2018-03-31 6,225 370 -73
2017-12-31 6,395 422 -29
2017-09-30 6,753 413 15
2017-06-30 7,111 403 59
2017-03-31 7,492 527 30

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Petrofac's earnings are expected to grow significantly at over 20% yearly.
  • Petrofac'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:P2F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below

All data from Petrofac Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:P2F Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 0.63 0.63 0.63 1.00
2023-12-31 0.50 0.56 0.44 2.00
2022-12-31 0.53 0.82 0.06 8.00
2021-12-31 0.53 0.80 0.15 10.00
2020-12-31 0.50 0.63 0.39 7.00
2020-04-06
DB:P2F Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 0.22
2019-09-30 0.44
2019-06-30 0.65
2019-03-31 0.42
2018-12-31 0.19
2018-09-30 -0.08
2018-06-30 -0.34
2018-03-31 -0.21
2017-12-31 -0.09
2017-09-30 0.04
2017-06-30 0.17
2017-03-31 0.09

*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.
  • Petrofac is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Petrofac'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.
Petrofac 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 Petrofac 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 Petrofac's growth in the last year to its industry (Energy Services).
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.
  • Petrofac has delivered over 20% year on year earnings growth in the past 5 years.
  • Petrofac's 1-year earnings growth is less than its 5-year average (14.1% vs 49.5%)
  • Petrofac's earnings growth has exceeded the Europe Energy Services industry average in the past year (14.1% vs 0.7%).
Earnings and Revenue History
Petrofac'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 Petrofac Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:P2F 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 5,530.00 73.00 226.00
2019-09-30 5,697.50 146.50 227.00
2019-06-30 5,865.00 220.00 228.00
2019-03-31 5,847.00 142.00 221.50
2018-12-31 5,829.00 64.00 215.00
2018-09-30 5,941.50 -26.00 218.00
2018-06-30 6,054.00 -116.00 221.00
2018-03-31 6,224.50 -72.50 228.00
2017-12-31 6,395.00 -29.00 235.00
2017-09-30 6,753.00 15.00 232.00
2017-06-30 7,111.00 59.00 229.00
2017-03-31 7,492.00 30.00 235.00
2016-12-31 7,873.00 1.00 241.00
2016-09-30 7,712.50 -77.00 257.50
2016-06-30 7,552.00 -155.00 274.00
2016-03-31 7,198.00 -252.00 301.00
2015-12-31 6,844.00 -349.00 328.00
2015-09-30 6,865.00 -273.50 337.50
2015-06-30 6,886.00 -198.00 347.00
2015-03-31 6,563.50 -39.00 357.00
2014-12-31 6,241.00 120.00 367.00
2014-09-30 6,155.50 331.50 370.50
2014-06-30 6,070.00 543.00 374.00
2014-03-31 6,199.50 596.50 381.00
2013-12-31 6,329.00 650.00 388.00
2013-09-30 6,088.00 599.50 393.00
2013-06-30 5,847.00 549.00 398.00

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

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Petrofac is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Petrofac's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Petrofac'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 4.9x 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 Petrofac Company Filings, last reported 3 months ago.

DB:P2F Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 914.00 1,012.00 1,025.00
2019-09-30 914.00 1,012.00 1,025.00
2019-06-30 1,059.00 924.00 993.00
2019-03-31 1,059.00 924.00 993.00
2018-12-31 1,009.00 636.00 726.00
2018-09-30 1,009.00 636.00 726.00
2018-06-30 723.00 1,594.00 712.00
2018-03-31 723.00 1,594.00 712.00
2017-12-31 948.00 1,579.00 967.00
2017-09-30 948.00 1,579.00 967.00
2017-06-30 1,069.00 1,886.00 902.00
2017-03-31 1,069.00 1,886.00 902.00
2016-12-31 1,123.00 1,784.00 1,167.00
2016-09-30 1,123.00 1,784.00 1,167.00
2016-06-30 1,152.00 2,205.00 1,328.00
2016-03-31 1,152.00 2,205.00 1,328.00
2015-12-31 1,232.00 1,790.00 1,104.00
2015-09-30 1,232.00 1,790.00 1,104.00
2015-06-30 1,492.00 1,891.00 858.00
2015-03-31 1,492.00 1,891.00 858.00
2014-12-31 1,871.00 1,719.00 986.00
2014-09-30 1,871.00 1,719.00 986.00
2014-06-30 2,007.00 1,858.00 658.00
2014-03-31 2,007.00 1,858.00 658.00
2013-12-31 1,992.00 1,346.00 617.00
2013-09-30 1,992.00 1,346.00 617.00
2013-06-30 1,605.00 908.00 538.00
  • Petrofac's level of debt (110.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (92.2% vs 110.7% today).
  • Debt is well covered by operating cash flow (23.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.3x coverage).
X
Financial health checks
We assess Petrofac'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. Petrofac has a total score of 4/6, 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 Petrofac'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
15.09%
Current annual income from Petrofac dividends. Estimated to be 14.37% next year.
If you bought €2,000 of Petrofac shares you are expected to receive €302 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?
  • Petrofac's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.69%).
  • Petrofac's dividend is above the markets top 25% of dividend payers in Germany (4.85%).
Upcoming dividend payment

Purchase Petrofac before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:P2F 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 14 Analyst Estimates (S&P Global) See Below
Europe Energy Services Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 6.8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 315 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

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

DB:P2F Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 0.22 1.00
2023-12-31 0.30 2.00
2022-12-31 0.37 12.00
2021-12-31 0.37 16.00
2020-12-31 0.36 16.00
2020-04-06
DB:P2F Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-02-25 0.380 14.131
2019-02-28 0.380 7.235
2018-08-29 0.380 5.568
2018-03-01 0.380 4.991
2017-09-27 0.565 9.224
2017-03-29 0.658 10.178
2017-02-22 0.658 5.859
2016-09-28 0.658 6.107
2016-04-27 0.658 6.076
2015-09-24 0.658 5.525
2015-02-25 0.658 4.873
2014-09-22 0.658 5.073
2014-02-26 0.658 3.177
2013-08-27 0.650 3.082
2013-02-27 0.640 3.128
2012-08-13 0.582 2.278
2012-03-05 0.546 2.214
2012-03-02 0.546 2.174
2011-03-07 0.438 1.933
2011-03-04 0.438 1.835
2010-04-12 0.358 1.707
2010-03-08 0.358 1.952

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 increased over the past 10 years.
Current Payout to shareholders
What portion of Petrofac's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.7x coverage).
X
Income/ dividend checks
We assess Petrofac's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - 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 Petrofac afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Petrofac 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 Petrofac'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
Ayman Asfari
COMPENSATION $2,250,000
AGE 61
TENURE AS CEO 18.3 years
CEO Bio

Mr. Ayman Asfari has been the Group Chief Executive of Petrofac Limited since January 2002. Mr. Asfari joined Petrofac in 1991 to establish Petrofac International. He Works with the Board to set the strategy of the Group, and takes ultimate responsibility for the operational and financial performance of Petrofac. He also has a close involvement in the approach to corporate responsibility, including health, safety, ethical standards, security and the environment. He served as the Chief Executive Officer of Petrofac International until January 2002. He served as the Managing Director of a major civil and mechanical construction business based in Oman. He has more than 30 years’ experience in the oil and gas industry. He has been a Director at Petrofac Limited since January 11, 2002. He serves as a Director of Petrofac FPSO Holding Limited. He is the Founder and Chairman of the Asfari Foundation. He is a member of the board of trustees of the American University of Beirut and member of the Senior Panel of Advisors of Chatham House. He holds an M.Sc., in Civil and Urban Engineering in 1980 from the University of Pennsylvania.

CEO Compensation
  • Ayman's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Ayman's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

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

2.9
Average Tenure
54
Average Age
  • The tenure for the Petrofac management team is about average.
Management Team

Ayman Asfari

TITLE
Group Chief Executive & Executive Director
COMPENSATION
$2M
AGE
61
TENURE
18.3 yrs

Alastair Cochran

TITLE
CFO & Executive Director
COMPENSATION
$2M
AGE
49
TENURE
3.5 yrs

Allan Cockriel

TITLE
Chief Information Officer
TENURE
2 yrs

Jonathan Low

TITLE
Head of Investor Relations

Matt Barton

TITLE
Group General Counsel
TENURE
2.3 yrs

Tarek Massoud

TITLE
Chief Compliance Officer
TENURE
1.3 yrs

Alison Flynn

TITLE
Group Director of Communications & Sustainability

John Pearson

TITLE
COO of Engineering & Production Services and Chief Corporate Development Officer

Des Thurlby

TITLE
Group Director of Human Resources
AGE
54

Paolo Bigi

TITLE
Regional Managing Director of Engineering & Construction
TENURE
4.3 yrs
Board of Directors Tenure

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

2.3
Average Tenure
61
Average Age
  • The average tenure for the Petrofac board of directors is less than 3 years, this suggests a new board.
Board of Directors

René Médori

TITLE
Independent Non-Executive Chairman
COMPENSATION
$313K
AGE
62
TENURE
1.9 yrs

Ayman Asfari

TITLE
Group Chief Executive & Executive Director
COMPENSATION
$2M
AGE
61
TENURE
18.3 yrs

Alastair Cochran

TITLE
CFO & Executive Director
COMPENSATION
$2M
AGE
49
TENURE
3.5 yrs

Matthias Bichsel

TITLE
Senior Independent Director
COMPENSATION
$132K
AGE
65
TENURE
1.9 yrs

George Pierson

TITLE
Independent Non-Executive Director
COMPENSATION
$120K
AGE
57
TENURE
3.9 yrs

David Davies

TITLE
Independent Non-Executive Director
COMPENSATION
$73K
AGE
64
TENURE
1.9 yrs

Andrea Abt

TITLE
Independent Non-Executive Director
COMPENSATION
$100K
AGE
59
TENURE
3.9 yrs

Sara Akbar

TITLE
Non-Executive Director
COMPENSATION
$100K
TENURE
2.3 yrs

Francesca Di Carlo

TITLE
Non-Executive Director
TENURE
0.9 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Petrofac individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
02. Apr 20 Buy David Davies Individual 02. Apr 20 02. Apr 20 2,505 €2.28 €5,703
02. Apr 20 Buy Andrea Abt Individual 02. Apr 20 02. Apr 20 2,505 €2.28 €5,703
02. Apr 20 Buy Matthias Bichsel Individual 02. Apr 20 02. Apr 20 2,505 €2.28 €5,703
02. Apr 20 Buy Sara Akbar Individual 02. Apr 20 02. Apr 20 2,505 €2.28 €5,703
02. Apr 20 Buy George Pierson Individual 02. Apr 20 02. Apr 20 2,505 €2.28 €5,703
02. Apr 20 Buy René Médori Individual 02. Apr 20 02. Apr 20 10,020 €2.28 €22,814
02. Apr 20 Buy Francesca Di Carlo Individual 02. Apr 20 02. Apr 20 2,505 €2.28 €5,703
27. Mar 20 Buy George Pierson Individual 25. Mar 20 25. Mar 20 78,450 €2.29 €179,351
03. Oct 19 Buy David Davies Individual 02. Oct 19 02. Oct 19 1,271 €4.42 €5,617
03. Oct 19 Buy Andrea Abt Individual 02. Oct 19 02. Oct 19 1,271 €4.42 €5,617
03. Oct 19 Buy Matthias Bichsel Individual 02. Oct 19 02. Oct 19 1,271 €4.42 €5,617
03. Oct 19 Buy Sara Akbar Individual 02. Oct 19 02. Oct 19 1,271 €4.42 €5,617
03. Oct 19 Buy George Pierson Individual 02. Oct 19 02. Oct 19 1,271 €4.42 €5,617
03. Oct 19 Buy René Médori Individual 02. Oct 19 02. Oct 19 5,085 €4.42 €22,471
03. Oct 19 Buy Francesca Di Carlo Individual 02. Oct 19 02. Oct 19 1,271 €4.42 €5,617
02. Jul 19 Buy David Davies Individual 01. Jul 19 01. Jul 19 1,141 €4.90 €5,587
02. Jul 19 Buy Andrea Abt Individual 01. Jul 19 01. Jul 19 1,141 €4.90 €5,587
02. Jul 19 Buy Matthias Bichsel Individual 01. Jul 19 01. Jul 19 1,141 €4.90 €5,587
02. Jul 19 Buy Sara Akbar Individual 01. Jul 19 01. Jul 19 1,141 €4.90 €5,587
02. Jul 19 Buy George Pierson Individual 01. Jul 19 01. Jul 19 1,141 €4.90 €5,587
02. Jul 19 Buy René Médori Individual 01. Jul 19 01. Jul 19 4,566 €4.90 €22,359
02. Jul 19 Buy Francesca Di Carlo Individual 01. Jul 19 01. Jul 19 740 €4.90 €3,624
30. May 19 Buy Alastair Cochran Individual 29. May 19 29. May 19 3,029 €4.65 €14,071
X
Management checks
We assess Petrofac'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. Petrofac 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

Petrofac Limited, an oilfield service company, provides services to the oil and gas production and processing industry worldwide. The company operates through three segments: Engineering & Construction; Engineering & Production Services; and Integrated Energy Services. The Engineering & Construction segment provides onshore and offshore engineering, procurement, construction, installation, and commissioning services. The Engineering & Production Services segment offers concept, feasibility, and front-end engineering and full project delivery, as well as a range of operations, maintenance, and engineering services for onshore and offshore projects. The Integrated Energy Services segment provides an integrated service for clients under flexible commercial models that are aligned with their requirements in projects, including upstream developments and related energy infrastructure projects. Petrofac Limited was founded in 1981 and is based in St Helier, Jersey.

Details
Name: Petrofac Limited
P2F
Exchange: DB
Founded: 1981
£782,237,148
335,857,280
Website: http://www.petrofac.com
Address: Petrofac Limited
44 Esplanade,
Saint Helier,
JE4 9WG,
Jersey
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE PFC Ordinary Shares London Stock Exchange GB GBP 04. Oct 2005
OTCPK POFC.F Ordinary Shares Pink Sheets LLC US USD 04. Oct 2005
DB P2F Ordinary Shares Deutsche Boerse AG DE EUR 04. Oct 2005
BATS-CHIXE PFCL Ordinary Shares BATS 'Chi-X Europe' GB GBP 04. Oct 2005
OTCPK POFC.Y UNSPONSORD ADR Pink Sheets LLC US USD 30. Mar 2011
Number of employees
Current staff
Staff numbers
11,500
Petrofac employees.
Industry
Oil and Gas Equipment and Services
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/06 21:37
End of day share price update: 2020/04/06 00:00
Last estimates confirmation: 2020/04/05
Last earnings filing: 2020/02/25
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.