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A.P. Møller - Mærsk

DB:DP4B
Snowflake Description

Reasonable growth potential with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
DP4B
DB
DKK156B
Market Cap
  1. Home
  2. DE
  3. Transportation
Company description

A.P. Møller - Mærsk A/S operates as an integrated transport and logistics company worldwide. The last earnings update was 59 days ago. More info.


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DP4B Share Price and Events
7 Day Returns
4.7%
DB:DP4B
4.1%
Europe Shipping
2.8%
DE Market
1 Year Returns
-7%
DB:DP4B
6.2%
Europe Shipping
3%
DE Market
DP4B Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
A.P. Møller - Mærsk (DP4B) 4.7% -6.6% -0.1% -7% -18.3% -38%
Europe Shipping 4.1% -1.6% 9.8% 6.2% 6.6% -14.5%
DE Market 2.8% 0.2% 1.3% 3% 8% 23.6%
1 Year Return vs Industry and Market
  • DP4B underperformed the Shipping industry which returned 6.2% over the past year.
  • DP4B underperformed the Market in Germany which returned 3% over the past year.
Price Volatility
DP4B
Industry
5yr Volatility vs Market

DP4B Value

 Is A.P. Møller - Mærsk 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 A.P. Møller - Mærsk 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 A.P. Møller - Mærsk.

DB:DP4B Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 17 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.9%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

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:DP4B
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Shipping Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.733 (1 + (1- 22%) (79.02%))
1.124
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.12
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.124 * 5.96%)
6.93%

Discounted Cash Flow Calculation for DB:DP4B using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for A.P. Møller - Mærsk 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:DP4B DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 6.93%)
2020 2,571.80 Analyst x10 2,405.20
2021 2,791.75 Analyst x8 2,441.77
2022 3,566.00 Analyst x1 2,916.91
2023 3,662.10 Est @ 2.69% 2,801.47
2024 3,733.69 Est @ 1.95% 2,671.21
2025 3,787.33 Est @ 1.44% 2,534.06
2026 3,828.01 Est @ 1.07% 2,395.36
2027 3,859.41 Est @ 0.82% 2,258.57
2028 3,884.21 Est @ 0.64% 2,125.83
2029 3,904.34 Est @ 0.52% 1,998.42
Present value of next 10 years cash flows $24,548.00
DB:DP4B DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $3,904.34 × (1 + 0.23%) ÷ (6.93% – 0.23%)
$58,418.30
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $58,418.30 ÷ (1 + 6.93%)10
$29,901.22
DB:DP4B Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $24,548.00 + $29,901.22
$54,449.22
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $54,449.22 / 20.30
$2682.88
DB:DP4B Discount to Share Price
Calculation Result
Exchange Rate USD/DKK
(Reporting currency to currency of CPSE:MAERSK B)
6.759
Value per Share
(DKK)
= Value per Share in USD x Exchange Rate (USD/DKK)
= $2682.88 x 6.759
DKK18134.63
Non-primary Listing Adjustment Factor 1 share in DB:DP4B represents 0.13094x of CPSE:MAERSK B
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.13094x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (DKK) x Listing Adjustment Factor
= DKK 18,134.63 x 0.13094
€2,374.50
Value per share (EUR) From above. €2,374.50
Current discount Discount to share price of €1,036.50
= -1 x (€1,036.50 - €2,374.50) / €2,374.50
56.3%

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

Current Discount
Amount off the current price A.P. Møller - Mærsk is available for.
Intrinsic value
>50%
Share price is €1036.5 vs Future cash flow value of €2374.5
Current Discount Checks
For A.P. Møller - Mærsk to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • A.P. Møller - Mærsk's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • A.P. Møller - Mærsk'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 A.P. Møller - Mærsk's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are A.P. Møller - Mærsk's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:DP4B PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $10.09
CPSE:MAERSK B Share Price ** CPSE (2019-10-11) in DKK DKK7916
CPSE:MAERSK B Share Price converted to USD reporting currency Exchange rate (DKK/ USD) 0.148 $1171.11
Europe Shipping Industry PE Ratio Median Figure of 26 Publicly-Listed Shipping Companies 11.43x
Germany Market PE Ratio Median Figure of 417 Publicly-Listed Companies 19.72x

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

** Primary Listing of A.P. Møller - Mærsk.

DB:DP4B PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= CPSE:MAERSK B Share Price ÷ EPS (both in USD)

= 1171.11 ÷ 10.09

116.03x

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

  • A.P. Møller - Mærsk is overvalued based on earnings compared to the Europe Shipping industry average.
  • A.P. Møller - Mærsk is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does A.P. Møller - Mærsk's expected growth come at a high price?
Raw Data
DB:DP4B PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 116.03x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts
32.1%per year
Europe Shipping Industry PEG Ratio Median Figure of 14 Publicly-Listed Shipping Companies 0.79x
Germany Market PEG Ratio Median Figure of 265 Publicly-Listed Companies 1.39x

*Line of best fit is calculated by linear regression .

DB:DP4B PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 116.03x ÷ 32.1%

3.61x

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

  • A.P. Møller - Mærsk is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on A.P. Møller - Mærsk's assets?
Raw Data
DB:DP4B PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $1,402.78
CPSE:MAERSK B Share Price * CPSE (2019-10-11) in DKK DKK7916
CPSE:MAERSK B Share Price converted to USD reporting currency Exchange rate (DKK/ USD) 0.148 $1171.11
Europe Shipping Industry PB Ratio Median Figure of 43 Publicly-Listed Shipping Companies 0.76x
Germany Market PB Ratio Median Figure of 598 Publicly-Listed Companies 1.74x
DB:DP4B PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= CPSE:MAERSK B Share Price ÷ Book Value per Share (both in USD)

= 1171.11 ÷ 1,402.78

0.83x

* Primary Listing of A.P. Møller - Mærsk.

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

  • A.P. Møller - Mærsk is overvalued based on assets compared to the Europe Shipping industry average.
X
Value checks
We assess A.P. Møller - Mærsk'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 Shipping 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 Shipping industry average (and greater than 0)? (1 check)
  5. A.P. Møller - Mærsk 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.

DP4B Future Performance

 How is A.P. Møller - Mærsk expected to perform in the next 1 to 3 years based on estimates from 17 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
32.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is A.P. Møller - Mærsk expected to grow at an attractive rate?
  • A.P. Møller - Mærsk's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • A.P. Møller - Mærsk's earnings growth is expected to exceed the Germany market average.
  • A.P. Møller - Mærsk's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:DP4B Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:DP4B Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts 32.1%
DB:DP4B Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 17 Analysts 5%
Europe Shipping Industry Earnings Growth Rate Market Cap Weighted Average 23.5%
Europe Shipping Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*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:DP4B Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:DP4B Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 49,929 1,366 1
2022-12-31 46,382 7,601 1,384 2
2021-12-31 43,854 5,593 1,116 14
2020-12-31 42,353 5,127 1,249 17
2019-12-31 39,742 4,739 297 16
2019-10-13
DB:DP4B Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 39,297 5,670 209
2019-03-31 39,247 5,432 -56
2018-12-31 39,019 6,646 -200
2018-09-30 37,406 6,438 -176
2018-06-30 35,043 6,214 -482
2018-03-31 33,156 6,845 -354
2017-12-31 30,945 4,364 -235
2017-09-30 29,279 3,413 -484
2017-06-30 28,638 1,983 -395
2017-03-31 25,828 1,779 -854
2016-12-31 27,266 1,767 -511
2016-09-30 29,617 2,701 -2,854

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • A.P. Møller - Mærsk's earnings are expected to grow significantly at over 20% yearly.
  • A.P. Møller - Mærsk's revenue is expected to grow by 5% 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:DP4B 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 17 Analyst Estimates (S&P Global) See Below

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

DB:DP4B Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 70.45 70.45 70.45 1.00
2022-12-31 68.24 85.00 51.48 2.00
2021-12-31 59.59 95.40 33.82 10.00
2020-12-31 57.65 108.99 24.51 10.00
2019-12-31 18.83 39.60 -11.60 11.00
2019-10-13
DB:DP4B Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 10.09
2019-03-31 -2.70
2018-12-31 -9.63
2018-09-30 -8.51
2018-06-30 -25.15
2018-03-31 -17.00
2017-12-31 -11.32
2017-09-30 -23.14
2017-06-30 -17.60
2017-03-31 -41.45
2016-12-31 -24.60
2016-09-30 -137.51

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

DP4B Past Performance

  How has A.P. Møller - Mærsk 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 A.P. Møller - Mærsk's growth in the last year to its industry (Shipping).
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.
  • A.P. Møller - Mærsk's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • A.P. Møller - Mærsk has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • A.P. Møller - Mærsk has become profitable in the last year making it difficult to compare the Europe Shipping industry average.
Earnings and Revenue History
A.P. Møller - Mærsk'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 A.P. Møller - Mærsk Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:DP4B Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 39,297.00 209.00
2019-03-31 39,247.00 -56.00
2018-12-31 39,019.00 -200.00
2018-09-30 37,406.00 -176.00
2018-06-30 35,043.00 -482.00
2018-03-31 33,156.00 -354.00
2017-12-31 30,945.00 -235.00
2017-09-30 29,279.00 -484.00
2017-06-30 28,638.00 -395.00
2017-03-31 25,828.00 -854.00
2016-12-31 27,266.00 -511.00
2016-09-30 29,617.00 -2,854.00 423.00
2016-06-30 32,654.00 -2,060.00 423.00
2016-03-31 38,300.00 -537.00 423.00
2015-12-31 40,308.00 791.00 423.00
2015-09-30 42,898.00 3,513.00 765.00
2015-06-30 44,957.00 4,223.00 765.00
2015-03-31 46,380.00 2,625.00 765.00
2014-12-31 47,569.00 2,159.00 765.00
2014-09-30 47,838.00 2,685.00 1,149.00
2014-06-30 47,750.00 2,263.00 1,149.00
2014-03-31 47,488.00 3,496.00 1,149.00
2013-12-31 47,386.00 3,056.00 1,149.00
2013-09-30 40,709.67 3,007.58 1,143.40
2013-06-30 43,631.48 2,837.45 1,098.36
2013-03-31 46,941.88 3,017.08 1,083.08
2012-12-31 50,674.18 3,538.58 1,113.67

*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.
  • A.P. Møller - Mærsk has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • A.P. Møller - Mærsk used its assets less efficiently than the Europe Shipping industry average last year based on Return on Assets.
  • A.P. Møller - Mærsk's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess A.P. Møller - Mærsk'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 Shipping 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.
A.P. Møller - Mærsk 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.

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

DP4B Health

 How is A.P. Møller - Mærsk'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 A.P. Møller - Mærsk's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • A.P. Møller - Mærsk is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • A.P. Møller - Mærsk's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of A.P. Møller - Mærsk'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 covered by short term assets, assets are 1.3x 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 A.P. Møller - Mærsk Company Filings, last reported 3 months ago.

DB:DP4B Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 28,997.00 9,235.00 4,963.00
2019-03-31 32,843.00 8,840.00 4,999.00
2018-12-31 33,392.00 9,622.00 5,299.00
2018-09-30 34,116.00 17,131.00 9,359.00
2018-06-30 33,588.00 17,351.00 8,547.00
2018-03-31 34,313.00 17,281.00 8,778.00
2017-12-31 31,425.00 14,768.00 2,172.00
2017-09-30 30,954.00 15,816.00 2,937.00
2017-06-30 32,349.00 15,650.00 3,655.00
2017-03-31 32,316.00 15,060.00 2,926.00
2016-12-31 32,090.00 13,064.00 4,157.00
2016-09-30 35,209.00 15,421.00 4,145.00
2016-06-30 34,718.00 15,529.00 3,896.00
2016-03-31 35,804.00 15,308.00 4,398.00
2015-12-31 35,739.00 11,236.00 4,769.00
2015-09-30 38,642.00 12,188.00 4,105.00
2015-06-30 38,236.00 11,656.00 2,671.00
2015-03-31 36,948.00 11,705.00 3,873.00
2014-12-31 42,225.00 10,629.00 3,886.00
2014-09-30 43,061.00 14,299.00 5,529.00
2014-06-30 42,474.00 14,007.00 3,725.00
2014-03-31 42,415.00 14,860.00 4,989.00
2013-12-31 42,513.00 13,757.00 3,571.00
2013-09-30 41,343.41 17,396.46 4,014.05
2013-06-30 39,404.18 17,412.91 2,842.98
2013-03-31 39,772.45 17,602.00 2,861.00
2012-12-31 39,326.46 16,009.34 2,444.00
  • A.P. Møller - Mærsk's level of debt (31.8%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (28.6% vs 31.8% today).
  • Debt is well covered by operating cash flow (61.4%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.6x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess A.P. Møller - Mærsk'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. A.P. Møller - Mærsk has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

DP4B Dividends

 What is A.P. Møller - Mærsk'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
1.96%
Current annual income from A.P. Møller - Mærsk dividends. Estimated to be 2.35% next year.
If you bought €2,000 of A.P. Møller - Mærsk shares you are expected to receive €39 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?
  • A.P. Møller - Mærsk's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • A.P. Møller - Mærsk's dividend is below the markets top 25% of dividend payers in Germany (3.86%).
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:DP4B 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 17 Analyst Estimates (S&P Global) See Below
Europe Shipping Industry Average Dividend Yield Market Cap Weighted Average of 23 Stocks 2.6%
Germany Market Average Dividend Yield Market Cap Weighted Average of 337 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.7%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

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

DB:DP4B Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31 30.23 1.00
2021-12-31 23.83 8.00
2020-12-31 33.77 9.00
2019-12-31 23.92 8.00
2019-10-13
DB:DP4B Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-21 23.000 1.947
2018-02-09 24.000 1.701
2017-02-08 21.000 1.148
2016-02-10 44.000 3.149
2016-01-15 44.000 3.622
2015-02-25 42.339 2.606
2014-02-27 42.362 2.128
2013-02-22 41.121 2.449
2012-08-14 33.019 2.375
2012-04-12 32.479 2.513
2011-02-23 34.067 2.458
2010-03-04 10.436 0.680
2009-04-03 22.550 1.846

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 A.P. Møller - Mærsk's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.3x coverage).
X
Income/ dividend checks
We assess A.P. Møller - Mærsk's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.7%) - 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 A.P. Møller - Mærsk afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. A.P. Møller - Mærsk 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.

DP4B Management

 What is the CEO of A.P. Møller - Mærsk'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
Soren Skou
AGE 55
TENURE AS CEO 3.3 years
CEO Bio

Mr. Soren Skou is Director at Nokia Corporation since May 21, 2019. He has been the Chief Executive Officer at Mærsk A/S since 2012. Mr. Skou has been the Chief Executive Officer and Member of Executive Board at A.P. Møller - Mærsk A/S since June 2016 and 2007 respectively and has been its Chief Executive Officer of Transport & Logistics Division since October 2016. He has been Chief Executive Officer of Maersk Line A/S since 2012. He has been a member of the Executive Board of the A.P.Moller-Maersk Group since 2006. He has been Chief Executive Officer of Maersk Line, Limited at A.P. Møller - Mærsk A/S since January 2012. Mr. Skou has been the Chief Executive Officer of Maersk, Inc. since January 16, 2012 and serves as its Member of Management Board. He serves as a Member of Executive Board at Maersk LNG A/S. He has been Chief Executive Officer of Transport & Logistics Division at A.P. Møller - Mærsk A/S since September 2016 and served as its Partner since 2007 and is also In-Charge of Group Oil Trading. Mr. Skou previously held various positions in Maersk Line from 1983 to 1998. In 1998, he joined Maersk Tankers. Mr. Skou served as the Chief Executive Officer of Maersk Tankers A/S from 2001 to 2011. He served as Head of Maersk Tankers at A.P. Møller - Mærsk A/S. He served as President, Partner, and Member of Executive Board of Maersk Tankers A/S. He joined A.P. Moller-Maersk in 1983. Mr. Skou serves as the Chairman of Broström AB. He serves as a Vice Chairman of Danisco A/S, The International Tanker Owners Polution Federation Limited (ITOPF); Lloyd’s Register and of Höegh Autoliners Holdings AS. He served as Vice Chairman of DFDS A/S. He serves as a Director of Danish Shipowner's Association and Maersk Container Industry. He served as a Director of DFDS A/S since August 2010. He served as Director of Danisco A/S (now known as DuPont Nutrition Biosciences ApS) from August 2009 to June 10, 2011. He studied Graduate Diploma in Marketing. He is a graduate in Management from Copenhagen University, as well as having an MBA (Honours) from IMD, Switzerland.

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

Average tenure and age of the A.P. Møller - Mærsk management team in years:

1.3
Average Tenure
52
Average Age
  • The average tenure for the A.P. Møller - Mærsk management team is less than 2 years, this suggests a new team.
Management Team

Soren Skou

TITLE
CEO, CEO of Transport & Logistics Division and Member of Management Board
AGE
55
TENURE
3.3 yrs

Carolina Happe

TITLE
EVP, CFO & Member of Management Board
AGE
47
TENURE
0.8 yrs

Morten Engelstoft

TITLE
Executive VP
AGE
52
TENURE
1.8 yrs

Vincent Clerc

TITLE
Chief Commercial Officer
AGE
47
TENURE
2.8 yrs

Søren Toft

TITLE
COO, Executive VP & Member of Management Board
AGE
45
TENURE
1.8 yrs

Adam Banks

TITLE
Chief Technology & Information Officer
TENURE
0.6 yrs

Stig Frederiksen

TITLE
Head of Investor Relations

Caroline Pontoppidan

TITLE
General Counsel & Head of Corporate Affairs
AGE
54
TENURE
0.6 yrs

Ulf Hahnemann

TITLE
Chief Human Resources Officer
TENURE
0.6 yrs

Lars-Erik Brenøe

TITLE
Executive Vice President
AGE
58
Board of Directors Tenure

Average tenure and age of the A.P. Møller - Mærsk board of directors in years:

2.6
Average Tenure
53
Average Age
  • The average tenure for the A.P. Møller - Mærsk board of directors is less than 3 years, this suggests a new board.
Board of Directors

Jim Snabe

TITLE
Independent Chairman
AGE
54
TENURE
2.6 yrs

Ane Mærsk Uggla

TITLE
Vice Chairman
AGE
71

Arne Karlsson

TITLE
Independent Director
AGE
61
TENURE
9.8 yrs

Robert Uggla

TITLE
Non-Independent Director
AGE
41
TENURE
5.6 yrs

Niels Christiansen

TITLE
Independent Director
AGE
53
TENURE
5.6 yrs

Dorothee Blessing

TITLE
Independent Director
AGE
52
TENURE
5.6 yrs

Thomas Madsen

TITLE
Director
AGE
47
TENURE
1.5 yrs

Jacob Sterling

TITLE
Director
AGE
44
TENURE
1.5 yrs

Bernard Bot

TITLE
Director
AGE
53
TENURE
0.5 yrs

Marc Engel

TITLE
Director
AGE
53
TENURE
0.5 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 A.P. Møller - Mærsk'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. A.P. Møller - Mærsk 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.

DP4B News

Simply Wall St News

DP4B Company Info

Description

A.P. Møller - Mærsk A/S operates as an integrated transport and logistics company worldwide. The company’s Ocean segment engages in container shipping activities, including demurrage and detention, terminal handling, documentation services, container services, and container storage, as well as transhipment services under Maersk Line, Safmarine, Sealand – A Maersk Company, Hamburg Süd, and APM Terminal brands. Its Logistics and Services segment offers freight forwarding, supply chain management, inland haulage, and other logistics services under Damco, Maersk Line, Safmarine, and Sealand – A Maersk Company brands; and export finance, and post-shipment and import finance solutions, as well as operates cargo aircraft. The company’s Terminals and Towage segment is involved in Gateway terminal activities, and towage and related marine activities under APM Terminals and Svitzer brands. Its Manufacturing & Others segment engages in the production of reefer and dry containers; trading and sale of bunker oil; bulk and tanker activity; and provision of training services to the maritime, oil and gas, offshore wind, and crane industries. A.P. Møller - Mærsk A/S was founded in 1904 and is headquartered in Copenhagen, Denmark.

Details
Name: A.P. Møller - Mærsk A/S
DP4B
Exchange: DB
Founded: 1904
DKK20,858,896,422
20,295,065
Website: http://www.maersk.com
Address: A.P. Møller - Mærsk A/S
Esplanaden 50,
Copenhagen K,
Copenhagen,
1098,
Denmark
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
CPSE MAERSK B Class B Shares DKK 1,000 OMX Nordic Exchange Copenhagen DK DKK 02. Jan 1992
OTCPK AMKB.F Class B Shares DKK 1,000 Pink Sheets LLC US USD 02. Jan 1992
DB DP4B Class B Shares DKK 1,000 Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0O77 Class B Shares DKK 1,000 London Stock Exchange GB DKK 02. Jan 1992
WBAG MRSK Class B Shares DKK 1,000 Wiener Boerse AG AT EUR 02. Jan 1992
BMV MAERSKB N Class B Shares DKK 1,000 Bolsa Mexicana de Valores MX MXN 02. Jan 1992
BATS-CHIXE MAERBC Class B Shares DKK 1,000 BATS 'Chi-X Europe' GB DKK 02. Jan 1992
OTCPK AMKB.Y UNSPONSORD ADR Pink Sheets LLC US USD 01. Nov 2011
CPSE MAERSK A Class A Shares DKK 1,000 OMX Nordic Exchange Copenhagen DK DKK 02. Jan 1992
OTCPK AMKA.F Class A Shares DKK 1,000 Pink Sheets LLC US USD 02. Jan 1992
DB DP4A Class A Shares DKK 1,000 Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0O76 Class A Shares DKK 1,000 London Stock Exchange GB DKK 02. Jan 1992
BATS-CHIXE MAERAC Class A Shares DKK 1,000 BATS 'Chi-X Europe' GB DKK 02. Jan 1992
Number of employees
Current staff
Staff numbers
80,220
A.P. Møller - Mærsk employees.
Industry
Marine
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/13 21:24
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/10/10
Last earnings filing: 2019/08/15
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


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.