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Fjord1

DB:F1K
Snowflake Description

Good value average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
F1K
DB
NOK4B
Market Cap
  1. Home
  2. DE
  3. Transportation
Company description

Fjord1 ASA, together with its subsidiaries, operates passenger ferries and other passenger boats in Norway. The last earnings update was 52 days ago. More info.


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F1K Share Price and Events
7 Day Returns
-3.1%
DB:F1K
4.1%
Europe Shipping
2.5%
DE Market
1 Year Returns
-26.5%
DB:F1K
6.2%
Europe Shipping
2.6%
DE Market
F1K Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Fjord1 (F1K) -3.1% -2% -13.8% -26.5% - -
Europe Shipping 4.1% -1.8% 9.8% 6.2% 6.6% -14.6%
DE Market 2.5% 0.2% 1% 2.6% 7.8% 23.7%
1 Year Return vs Industry and Market
  • F1K underperformed the Shipping industry which returned 6.2% over the past year.
  • F1K underperformed the Market in Germany which returned 2.6% over the past year.
Price Volatility
F1K
Industry
5yr Volatility vs Market

Value

 Is Fjord1 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 Fjord1 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 Fjord1.

DB:F1K Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.7%
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:F1K
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- 23%) (112.16%))
1.245
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.25
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.245 * 5.96%)
7.65%

Discounted Cash Flow Calculation for DB:F1K using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Fjord1 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:F1K DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (NOK, Millions) Source Present Value
Discounted (@ 7.65%)
2020 874.50 Analyst x2 812.35
2021 698.50 Analyst x2 602.75
2022 598.26 Est @ -14.35% 479.56
2023 538.56 Est @ -9.98% 401.03
2024 501.32 Est @ -6.92% 346.76
2025 477.39 Est @ -4.77% 306.75
2026 461.77 Est @ -3.27% 275.62
2027 451.51 Est @ -2.22% 250.34
2028 444.79 Est @ -1.49% 229.09
2029 440.47 Est @ -0.97% 210.74
Present value of next 10 years cash flows NOK3,914.00
DB:F1K DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= NOK440.47 × (1 + 0.23%) ÷ (7.65% – 0.23%)
NOK5,947.73
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= NOK5,947.73 ÷ (1 + 7.65%)10
NOK2,845.71
DB:F1K Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= NOK3,914.00 + NOK2,845.71
NOK6,759.71
Equity Value per Share
(NOK)
= Total value / Shares Outstanding
= NOK6,759.71 / 99.89
NOK67.67
DB:F1K Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:F1K represents 0.09803x of OB:FJORD
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.09803x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (NOK) x Listing Adjustment Factor
= NOK 67.67 x 0.09803
€6.63
Value per share (EUR) From above. €6.63
Current discount Discount to share price of €3.49
= -1 x (€3.49 - €6.63) / €6.63
47.4%

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

Current Discount
Amount off the current price Fjord1 is available for.
Intrinsic value
47%
Share price is €3.49 vs Future cash flow value of €6.63
Current Discount Checks
For Fjord1 to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Fjord1's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Fjord1'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 Fjord1's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Fjord1's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:F1K PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in NOK NOK4.27
OB:FJORD Share Price ** OB (2019-10-11) in NOK NOK35.6
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 Fjord1.

DB:F1K PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OB:FJORD Share Price ÷ EPS (both in NOK)

= 35.6 ÷ 4.27

8.34x

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

  • Fjord1 is good value based on earnings compared to the Europe Shipping industry average.
  • Fjord1 is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Fjord1's expected growth come at a high price?
Raw Data
DB:F1K PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.34x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
1.9%per year
Europe Shipping Industry PEG Ratio Median Figure of 14 Publicly-Listed Shipping Companies 0.79x
Germany Market PEG Ratio Median Figure of 264 Publicly-Listed Companies 1.38x

*Line of best fit is calculated by linear regression .

DB:F1K PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.34x ÷ 1.9%

4.35x

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

  • Fjord1 is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Fjord1's assets?
Raw Data
DB:F1K PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in NOK NOK21.72
OB:FJORD Share Price * OB (2019-10-11) in NOK NOK35.6
Europe Shipping Industry PB Ratio Median Figure of 43 Publicly-Listed Shipping Companies 0.76x
Germany Market PB Ratio Median Figure of 597 Publicly-Listed Companies 1.74x
DB:F1K PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OB:FJORD Share Price ÷ Book Value per Share (both in NOK)

= 35.6 ÷ 21.72

1.64x

* Primary Listing of Fjord1.

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

  • Fjord1 is overvalued based on assets compared to the Europe Shipping industry average.
X
Value checks
We assess Fjord1'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. Fjord1 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 Fjord1 expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
1.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Fjord1 expected to grow at an attractive rate?
  • Fjord1's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Fjord1's earnings growth is positive but not above the Germany market average.
  • Fjord1's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:F1K Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:F1K Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 1.9%
DB:F1K Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 6.1%
Europe Shipping Industry Earnings Growth Rate Market Cap Weighted Average 22.3%
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 4.9%

*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:F1K Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in NOK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:F1K Future Estimates Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 3,084 917 361 3
2020-12-31 3,038 941 336 3
2019-12-31 2,634 421 231 3
2019-10-12
DB:F1K Past Financials Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income *
2019-06-30 2,858 585 427
2019-03-31 2,957 629 446
2018-12-31 3,061 983 539
2018-09-30 2,954 921 616
2018-06-30 2,890 970 592
2018-03-31 2,831 927 608
2017-12-31 2,748 927 602
2017-09-30 2,599 960 562
2017-06-30 2,541 926 548
2017-03-31 2,400 816 480
2016-12-31 2,344 643 450

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Fjord1's earnings are expected to grow by 1.9% yearly, however this is not considered high growth (20% yearly).
  • Fjord1's revenue is expected to grow by 6.1% 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:F1K 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 3 Analyst Estimates (S&P Global) See Below

All data from Fjord1 Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:F1K Future Estimates Data
Date (Data in NOK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 3.61 4.09 3.03 3.00
2020-12-31 3.36 3.75 2.80 3.00
2019-12-31 2.31 2.31 2.31 1.00
2019-10-12
DB:F1K Past Financials Data
Date (Data in NOK Millions) EPS *
2019-06-30 4.27
2019-03-31 4.46
2018-12-31 5.39
2018-09-30 6.16
2018-06-30 5.92
2018-03-31 6.08
2017-12-31 6.02
2017-09-30 5.62
2017-06-30 5.48
2017-03-31 4.80
2016-12-31 4.50

*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.
  • Fjord1 is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Fjord1'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.
Fjord1 has a total score of 2/6, 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 Fjord1 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 Fjord1'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.
  • Fjord1's year on year earnings growth rate has been positive over the past 5 years.
  • Fjord1's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Fjord1's 1-year earnings growth is negative, it can't be compared to the Europe Shipping industry average.
Earnings and Revenue History
Fjord1'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 Fjord1 Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:F1K Past Revenue, Cash Flow and Net Income Data
Date (Data in NOK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 2,858.15 427.00 1,011.05
2019-03-31 2,957.10 446.11 1,003.19
2018-12-31 3,060.95 538.66 1,004.98
2018-09-30 2,953.56 616.25 982.10
2018-06-30 2,889.53 592.09 984.79
2018-03-31 2,830.95 607.54 965.76
2017-12-31 2,748.15 602.15 946.35
2017-09-30 2,599.20 561.85 928.67
2017-06-30 2,540.55 547.67 897.81
2017-03-31 2,399.59 480.46 888.81
2016-12-31 2,344.47 449.97 884.84
2015-12-31 2,193.91 181.81 863.38
2014-12-31 2,309.58 96.88 930.50
2013-12-31 2,291.28 26.94 977.42
2012-12-31 2,249.82 -57.99 1,006.59

*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.
  • Fjord1 has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Fjord1 used its assets more efficiently than the Europe Shipping industry average last year based on Return on Assets.
  • Fjord1's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Fjord1'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.
Fjord1 has a total score of 2/6, 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 Fjord1'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 Fjord1's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Fjord1's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Fjord1's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Fjord1'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 Fjord1 Company Filings, last reported 3 months ago.

DB:F1K Past Debt and Equity Data
Date (Data in NOK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 2,177.90 3,918.74 272.44
2019-03-31 2,346.01 3,366.21 160.98
2018-12-31 2,331.44 2,790.99 302.58
2018-09-30 2,219.79 2,231.32 389.94
2018-06-30 2,026.65 2,506.78 446.08
2018-03-31 2,174.18 2,039.68 528.43
2017-12-31 2,067.73 1,817.98 474.29
2017-09-30 1,912.55 1,763.53 586.18
2017-06-30 1,743.36 1,816.01 368.34
2017-03-31 1,723.10 1,955.51 553.99
2016-12-31 1,723.10 1,955.51 553.99
2015-12-31 1,307.29 2,078.44 358.52
2014-12-31 1,175.78 2,308.30 334.24
2013-12-31 1,137.13 2,539.42 259.77
2012-12-31 1,111.72 2,310.21 189.17
  • Fjord1's level of debt (179.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (209.6% vs 179.9% today).
  • Debt is not well covered by operating cash flow (14.9%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.5x coverage).
X
Financial health checks
We assess Fjord1'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. Fjord1 has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

Dividends

 What is Fjord1'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
7.58%
Current annual income from Fjord1 dividends. Estimated to be 3.93% next year.
If you bought €2,000 of Fjord1 shares you are expected to receive €152 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?
  • Fjord1's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • Fjord1's dividend is above 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:F1K Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
Europe 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 0.8%
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:F1K Future Dividends Estimate Data
Date (Data in NOK) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 1.84 2.00
2020-12-31 1.19 3.00
2019-12-31 1.15 1.00
2019-10-12
DB:F1K Past Annualized Dividends Data
Date (Data in NOK) Dividend per share (annual) Avg. Yield (%)
2019-04-03 2.700 7.056
2019-02-21 2.700 6.296
2018-05-03 2.700 5.721

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

  • It is too early to tell whether Fjord1 has stable dividend payments.
  • Fjord1 only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of Fjord1's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.6x 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 Fjord1's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 Fjord1 afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Fjord1 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 Fjord1'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
Dagfinn Neteland
COMPENSATION NOK5,893,000
TENURE AS CEO 2.8 years
CEO Bio

Mr. Dagfinn Neteland has been the Chief Executive Officer at Fjord1 ASA since January 2017 and served as its Chief Executive Officer from 2014 to January 22, 2016. Mr. Neteland serves as Managing Director at Bergen Bydrift AS and Vestlandsentreprenøren AS. He serves as Managing Director and Chairman of the Board of Dato Invest AS and Norheimsund Skiheis AS. He served as Chief Executive Officer of Tide ASA, HAS ASA and Gjensidige Vest. He serves as Chairman of the Board at Norhand Industri AS, Presis Vegdrift AS and Bi Elektro AS. He served as Regional Manager of Nordea Bank Norge ASA. He serves as a Director at Widerøes Flyveselskap As. He served as a Director at NHO Sjøfart.

CEO Compensation
  • Dagfinn's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Dagfinn's remuneration is about average for companies of similar size in Germany.
Management Team Tenure

Average tenure of the Fjord1 management team in years:

2.8
Average Tenure
  • The tenure for the Fjord1 management team is about average.
Management Team

Dagfinn Neteland

TITLE
Chief Executive Officer
COMPENSATION
NOK6M
TENURE
2.8 yrs

Anne-Mari Bøe

TITLE
Chief Financial Officer
COMPENSATION
NOK2M
TENURE
5.8 yrs

Andrè Høyset

TITLE
Chief Operational Officer
COMPENSATION
NOK3M
TENURE
2.6 yrs

Deon Mortensen

TITLE
Director Technical & HSE
COMPENSATION
NOK2M
Board of Directors Tenure

Average tenure of the Fjord1 board of directors in years:

2.3
Average Tenure
  • The average tenure for the Fjord1 board of directors is less than 3 years, this suggests a new board.
Board of Directors

Vegard Sævik

TITLE
Chairman
TENURE
2.3 yrs

Atle Trollebø

TITLE
Employee Representative Director
TENURE
11.8 yrs

Per Sævik

TITLE
Director
AGE
79
TENURE
5.8 yrs

Daniel Nedrelid

TITLE
Observer - Employee Representative
TENURE
0.8 yrs

Frederik Mohn

TITLE
Director
AGE
42
TENURE
2.3 yrs

Thomas Rakstang

TITLE
Observer- Employee Representative
TENURE
2.3 yrs

Siri Hatland

TITLE
Director
TENURE
1.4 yrs

Brita Eilertsen

TITLE
Director
TENURE
0.3 yrs

Terje Hals

TITLE
Employee Representative Director
TENURE
0.8 yrs

Magnus Mundal

TITLE
Employee Deputy Director
TENURE
7.8 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 (€)
20. May 19 Buy Atle Trollebø Individual 20. May 19 20. May 19 1,110 €3.72 €4,131
08. Nov 18 Buy Eliassen Ane Individual 07. Nov 18 07. Nov 18 334 €4.70 €1,569
08. Nov 18 Buy Reidar Tangen Individual 07. Nov 18 07. Nov 18 334 €4.70 €1,569
08. Nov 18 Buy Ole Eidem Individual 07. Nov 18 07. Nov 18 334 €101.58 €33,929
08. Nov 18 Buy Nils Berge Individual 07. Nov 18 07. Nov 18 334 €4.70 €1,569
08. Nov 18 Buy Dagfinn Neteland Individual 07. Nov 18 07. Nov 18 334 €4.70 €1,569
08. Nov 18 Buy Anne-Mari Bøe Individual 07. Nov 18 07. Nov 18 334 €4.70 €1,569
08. Nov 18 Buy Egil Kirkebø Individual 07. Nov 18 07. Nov 18 334 €4.70 €1,569
X
Management checks
We assess Fjord1'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. Fjord1 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

Fjord1 ASA, together with its subsidiaries, operates passenger ferries and other passenger boats in Norway. The company operates in four segments: Ferry, Passenger Boat, Catering, and Tourism. Its ferries and passenger boats transport vehicles and passengers. The company also offers catering and tourism, shipyard, and travel agency services, as well as manages properties. Fjord1 ASA was founded in 2001 and is headquartered in Florø, Norway. Fjord1 ASA is a subsidiary of Havilafjord AS.

Details
Name: Fjord1 ASA
F1K
Exchange: DB
Founded: 2001
NOK355,449,191
99,893,160
Website: http://www.fjord1.no
Address: Fjord1 ASA
Strandavegen 15,
Florø,
Sogn og Fjordane, 6900,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB FJORD Ordinary Shares Oslo Bors NO NOK 26. May 2017
DB F1K Ordinary Shares Deutsche Boerse AG DE EUR 26. May 2017
LSE 0RUB Ordinary Shares London Stock Exchange GB NOK 26. May 2017
BATS-CHIXE FJORDO Ordinary Shares BATS 'Chi-X Europe' GB NOK 26. May 2017
Number of employees
Current staff
Staff numbers
1,095
Fjord1 employees.
Industry
Marine
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/12 23:22
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/10/10
Last earnings filing: 2019/08/21
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.