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Seaspan

DB:S8V
Snowflake Description

Undervalued with solid track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
S8V
DB
$2B
Market Cap
  1. Home
  2. DE
  3. Transportation
Company description

Seaspan Corporation operates as an independent charter owner and manager of containerships in Hong Kong. The last earnings update was 59 days ago. More info.


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S8V Share Price and Events
7 Day Returns
4.7%
DB:S8V
4.1%
Europe Shipping
2.5%
DE Market
1 Year Returns
36.1%
DB:S8V
6.2%
Europe Shipping
2.6%
DE Market
S8V Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Seaspan (S8V) 4.7% -6.5% 7.5% 36.1% -17.9% -32.4%
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
  • S8V outperformed the Shipping industry which returned 6.2% over the past year.
  • S8V outperformed the Market in Germany which returned 2.6% over the past year.
Price Volatility
S8V
Industry
5yr Volatility vs Market

S8V Value

 Is Seaspan 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 Seaspan 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 Seaspan.

DB:S8V Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.6%
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:S8V
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6.7%
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- 25%) (199.48%))
1.556
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.56
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.556 * 6.65%)
10.58%

Discounted Cash Flow Calculation for DB:S8V using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Seaspan 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:S8V DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 10.58%)
2020 500.22 Analyst x3 452.38
2021 536.59 Analyst x2 438.86
2022 576.51 Analyst x1 426.41
2023 574.95 Est @ -0.27% 384.58
2024 574.25 Est @ -0.12% 347.38
2025 574.16 Est @ -0.02% 314.11
2026 574.49 Est @ 0.06% 284.23
2027 575.11 Est @ 0.11% 257.32
2028 575.94 Est @ 0.14% 233.05
2029 576.92 Est @ 0.17% 211.11
Present value of next 10 years cash flows $3,349.00
DB:S8V DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $576.92 × (1 + 0.23%) ÷ (10.58% – 0.23%)
$5,588.03
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $5,588.03 ÷ (1 + 10.58%)10
$2,044.85
DB:S8V Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $3,349.00 + $2,044.85
$5,393.85
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $5,393.85 / 215.23
$25.06
DB:S8V Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:S8V represents 0.86625x of NYSE:SSW
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.86625x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 25.06 x 0.86625
€21.71
Value per share (EUR) From above. €21.71
Current discount Discount to share price of €9.68
= -1 x (€9.68 - €21.71) / €21.71
55.4%

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

Current Discount
Amount off the current price Seaspan is available for.
Intrinsic value
>50%
Share price is €9.68 vs Future cash flow value of €21.71
Current Discount Checks
For Seaspan to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Seaspan's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Seaspan'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 Seaspan's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Seaspan's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:S8V PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $2.05
NYSE:SSW Share Price ** NYSE (2019-10-11) in USD $11.17
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 Seaspan.

DB:S8V PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 11.17 ÷ 2.05

5.44x

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

  • Seaspan is good value based on earnings compared to the Europe Shipping industry average.
  • Seaspan is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Seaspan's expected growth come at a high price?
Raw Data
DB:S8V PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.44x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
-40.1%per year
Europe Shipping Industry PEG Ratio Median Figure of 14 Publicly-Listed Shipping Companies 0.79x
Germany Market PEG Ratio Median Figure of 264 Publicly-Listed Companies 1.38x

*Line of best fit is calculated by linear regression .

DB:S8V PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 5.44x ÷ -40.1%

-0.14x

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

  • Seaspan earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Seaspan's assets?
Raw Data
DB:S8V PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $14.90
NYSE:SSW Share Price * NYSE (2019-10-11) in USD $11.17
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:S8V PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 11.17 ÷ 14.90

0.75x

* Primary Listing of Seaspan.

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

  • Seaspan is good value based on assets compared to the Europe Shipping industry average.
X
Value checks
We assess Seaspan'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. Seaspan has a total score of 5/6, see the detailed checks below.

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

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

S8V Future Performance

 How is Seaspan expected to perform in the next 1 to 3 years based on estimates from 6 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
-40.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Seaspan expected to grow at an attractive rate?
  • Seaspan's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Seaspan's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Seaspan'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:S8V Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:S8V Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts -40.1%
DB:S8V Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts -0.8%
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:S8V Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:S8V Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 1,108 632 1
2021-12-31 1,105 608 164 3
2020-12-31 1,129 525 197 5
2019-12-31 1,121 542 384 5
2019-10-12
DB:S8V Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 1,151 778 397
2019-03-31 1,157 537 425
2018-12-31 1,096 484 208
2018-09-30 1,016 437 205
2018-06-30 932 389 174
2018-03-31 855 316 137
2017-12-31 831 323 111
2017-09-30 830 313 54
2017-06-30 844 285 -176
2017-03-31 864 310 -165
2016-12-31 878 311 -195
2016-09-30 883 329 -117

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Seaspan's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Seaspan'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:S8V 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 6 Analyst Estimates (S&P Global) See Below

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

DB:S8V Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 0.95 0.95 0.95 1.00
2020-12-31 0.85 1.01 0.75 3.00
2019-12-31 1.68 1.72 1.63 3.00
2019-10-12
DB:S8V Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 2.05
2019-03-31 2.44
2018-12-31 1.34
2018-09-30 1.44
2018-06-30 1.34
2018-03-31 1.10
2017-12-31 0.94
2017-09-30 0.48
2017-06-30 -1.62
2017-03-31 -1.57
2016-12-31 -1.89
2016-09-30 -1.16

*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.
  • Seaspan is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Seaspan'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.
Seaspan has a total score of 0/6, 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.

S8V Past Performance

  How has Seaspan 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 Seaspan'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.
  • Seaspan has delivered over 20% year on year earnings growth in the past 5 years.
  • Seaspan's 1-year earnings growth exceeds its 5-year average (128.6% vs 24.4%)
  • Seaspan's earnings growth has exceeded the Europe Shipping industry average in the past year (128.6% vs -1%).
Earnings and Revenue History
Seaspan'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 Seaspan Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:S8V 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 1,150.64 397.35 30.88
2019-03-31 1,156.88 424.74 33.09
2018-12-31 1,096.33 207.57 31.57
2018-09-30 1,015.80 205.03 35.58
2018-06-30 931.83 173.82 41.46
2018-03-31 854.78 136.82 39.88
2017-12-31 831.32 110.76 40.09
2017-09-30 830.14 53.71 36.18
2017-06-30 844.00 -175.70 30.24
2017-03-31 863.70 -164.68 31.81
2016-12-31 877.91 -194.74 32.12
2016-09-30 883.18 -117.44 32.15
2016-06-30 871.16 86.43 31.01
2016-03-31 846.00 130.82 28.33
2015-12-31 819.02 144.55 27.34
2015-09-30 790.00 95.94 26.93
2015-06-30 763.01 140.93 28.12
2015-03-31 737.73 79.61 29.22
2014-12-31 717.17 74.42 30.46
2014-09-30 699.71 107.94 31.02
2014-06-30 686.24 83.93 30.68
2014-03-31 680.15 185.20 35.04
2013-12-31 677.09 219.20 34.78
2013-09-30 674.89 212.85 33.76
2013-06-30 672.44 185.73 31.03
2013-03-31 672.29 54.48 25.87
2012-12-31 660.79 52.69 23.43

*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.
  • Seaspan has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Seaspan used its assets more efficiently than the Europe Shipping industry average last year based on Return on Assets.
  • Seaspan has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Seaspan'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.
Seaspan has a total score of 5/6, 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.

S8V Health

 How is Seaspan'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 Seaspan's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Seaspan's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Seaspan's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Seaspan'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 0.2x 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 Seaspan Company Filings, last reported 3 months ago.

DB:S8V Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 3,254.09 3,179.15 592.52
2019-03-31 3,257.53 3,485.92 626.29
2018-12-31 2,508.12 3,487.54 359.97
2018-09-30 2,481.31 3,609.70 393.54
2018-06-30 2,138.66 3,845.74 271.47
2018-03-31 2,130.74 3,695.55 333.16
2017-12-31 1,949.43 2,450.63 253.28
2017-09-30 1,867.07 2,563.23 309.03
2017-06-30 1,809.75 2,659.82 305.70
2017-03-31 1,758.85 2,790.74 295.75
2016-12-31 1,747.25 2,884.51 368.31
2016-09-30 1,797.19 3,081.99 540.82
2016-06-30 1,729.15 3,290.80 349.02
2016-03-31 1,729.13 3,409.63 260.61
2015-12-31 1,776.18 3,357.84 218.94
2015-09-30 1,771.37 3,347.29 253.15
2015-06-30 1,797.99 3,350.77 277.23
2015-03-31 1,739.61 3,392.76 346.35
2014-12-31 1,745.22 3,382.42 202.97
2014-09-30 1,742.68 3,648.91 288.95
2014-06-30 1,701.89 3,735.16 369.14
2014-03-31 1,700.47 3,442.75 289.10
2013-12-31 1,571.71 3,666.71 488.06
2013-09-30 1,400.89 3,584.17 250.01
2013-06-30 1,378.01 3,579.35 336.26
2013-03-31 1,261.45 3,675.33 352.39
2012-12-31 1,218.57 3,697.68 417.48
  • Seaspan's level of debt (97.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (219% vs 97.7% today).
  • Debt is well covered by operating cash flow (24.5%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.7x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Seaspan'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. Seaspan 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.

S8V Dividends

 What is Seaspan'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
4.48%
Current annual income from Seaspan dividends. Estimated to be 4.48% next year.
If you bought €2,000 of Seaspan shares you are expected to receive €90 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?
  • Seaspan's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • Seaspan's dividend is above the markets top 25% of dividend payers in Germany (3.86%).
Upcoming dividend payment

Purchase Seaspan 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:S8V 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 6 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:S8V Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31 0.50 3.00
2020-12-31 0.50 5.00
2019-12-31 0.50 5.00
2019-10-12
DB:S8V Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-10-07 0.500 4.697
2019-07-08 0.500 4.800
2019-04-08 0.500 5.158
2019-01-04 0.500 5.710
2018-10-09 0.500 5.781
2018-06-28 0.500 5.612
2018-04-11 0.500 5.967
2018-01-09 0.500 7.428
2017-10-10 0.500 7.717
2017-07-11 0.500 7.252
2017-04-11 0.500 8.098
2017-03-06 0.500 7.464
2017-02-28 0.500 6.282
2017-01-11 1.500 17.261
2016-10-11 1.500 14.893
2016-07-12 1.500 10.489
2016-04-12 1.500 9.621
2016-01-12 1.500 8.885
2015-11-02 1.500 9.868
2015-07-13 1.500 8.825
2015-04-13 1.500 7.593
2015-03-10 1.500 8.138
2015-02-24 1.500 8.042
2015-01-13 1.380 7.587
2014-10-14 1.380 7.182
2014-07-15 1.380 6.167
2014-04-14 1.380 6.102
2014-03-11 1.380 6.278
2014-03-03 1.380 6.276
2014-02-06 1.250 5.579
2013-11-01 1.250 5.577
2013-10-30 1.250 5.580
2013-08-01 1.250 5.672
2013-03-05 1.250 5.860
2013-02-07 1.000 5.112
2012-10-31 1.000 5.892
2012-08-01 1.000 6.151
2012-05-16 1.000 6.196
2012-03-26 1.000 5.906
2012-02-29 1.000 5.446
2012-02-03 0.750 4.682
2011-11-01 0.750 5.867
2011-08-04 0.750 5.831
2011-05-05 0.750 4.843
2011-03-30 0.750 3.956
2011-03-14 0.750 4.509
2011-01-21 0.500 3.290
2010-04-30 0.400 3.409
2010-01-25 0.400 3.790
2009-11-03 0.400 4.216
2009-08-05 0.400 4.992
2009-04-28 0.400 6.098
2009-01-16 1.900 19.919
2008-10-30 1.900 23.263

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 fallen over the past 10 years.
Current Payout to shareholders
What portion of Seaspan's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.9x coverage).
X
Income/ dividend checks
We assess Seaspan'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 Seaspan afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Seaspan 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.

S8V Management

 What is the CEO of Seaspan'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
Bing Ruan Chen
AGE 52
TENURE AS CEO 1.8 years
CEO Bio

Mr. Bing Ruan Chen, C.P.A, has been President, Chief Executive Officer and Director of Seaspan Corporation since January 8, 2018. Mr. Chen served as the Chief Executive Officer of BNP Paribas (China) Limited from May 24, 2017 to December 31, 2017, where he led the bank's growth strategy in China. Over his 25 year career Mr. Chen has held executive positions in China, Europe and the United States. From 2011 to 2014, Mr. Chen was the General Manager for Trafigura's Chinese business operations, where he maintained full P&L responsibility for domestic and international commodities trading in the country. Between 2009 and 2011, he was responsible for building the greater China investment banking practice of Houlihan Lokey, Inc. as the Managing Director and Head of Asia Financial Advisory. Between 2001 and 2009, Mr. Chen held various leadership roles in Europe, including as Chief Executive Officer, Chief Financial Officer, and Managing Director of leasing and aircraft chartering businesses. Between 1999 and 2001. Mr. Chen served as Executive Director of BNP Paribas (China) Ltd. from July 13, 2017 to December 31, 2017. Mr. Chen worked as a Director, Business Strategy at Deutsche Bank in New York. Mr. Chen received a B.S., Accountancy (Magna Cum Laude) (Honours) from Bernard Baruch College and an MBA (Honours) from Columbia Business School.

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

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

1.4
Average Tenure
48
Average Age
  • The average tenure for the Seaspan management team is less than 2 years, this suggests a new team.
Management Team

Bing Ruan Chen

TITLE
President
AGE
52
TENURE
1.8 yrs

Peter Curtis

TITLE
Executive VP and Chief Commercial & Technical Officer
AGE
60
TENURE
2.3 yrs

Ryan Courson

TITLE
Chief Financial Officer
AGE
29
TENURE
1.4 yrs

Michael Sieffert

TITLE
Director of Corporate Finance

Anthony Gerstein

TITLE
Senior Director of Investor Relations

Tina Lai

TITLE
Chief Human Resources Officer
AGE
42
TENURE
1.3 yrs

Torsten Holst Pedersen

TITLE
Executive Vice President of Ship Management
AGE
48
TENURE
1 yrs

Gabrielle Smith

TITLE
Director of Human Resources
Board of Directors Tenure

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

2.3
Average Tenure
57
Average Age
  • The average tenure for the Seaspan board of directors is less than 3 years, this suggests a new board.
Board of Directors

Dave Sokol

TITLE
Chairman
AGE
63
TENURE
2.3 yrs

Bing Ruan Chen

TITLE
President
AGE
52
TENURE
1.8 yrs

Nick Pitts-Tucker

TITLE
Director
AGE
67
TENURE
9.5 yrs

Larry Simkins

TITLE
Director
AGE
57
TENURE
2.5 yrs

John C. Hsu

TITLE
Director
AGE
55
TENURE
11.5 yrs

Stephen Wallace

TITLE
Director
AGE
62
TENURE
1.5 yrs

Lawrence C. Chin

TITLE
Director
AGE
42
TENURE
1.5 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 Seaspan'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. Seaspan 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.

S8V News

Simply Wall St News

S8V Company Info

Description

Seaspan Corporation operates as an independent charter owner and manager of containerships in Hong Kong. The company charters its containerships under long-term and fixed-rate time charters to various container liner companies. As of September 09, 2019, it operated a fleet of 112 containerships. The company was incorporated in 2005 and is based in Hong Kong, Hong Kong.

Details
Name: Seaspan Corporation
S8V
Exchange: DB
Founded: 2005
$2,175,754,069
215,232,600
Website: http://www.seaspancorp.com
Address: Seaspan Corporation
Bupa Centre,
2nd Floor,
Hong Kong,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE SSW Class A Common Shares New York Stock Exchange US USD 09. Aug 2005
DB S8V Class A Common Shares Deutsche Boerse AG DE EUR 09. Aug 2005
LSE 0EAL Class A Common Shares London Stock Exchange GB USD 09. Aug 2005
NYSE SSW.PRI PERP PFD SER I New York Stock Exchange US USD 13. Sep 2018
NYSE SSW.PRH PFD CM RE SE H New York Stock Exchange US USD 05. Aug 2016
NYSE SSW.PRG PERP PFD SER G New York Stock Exchange US USD 10. Jun 2016
NYSE SSW.PRE CUM RD PRP PFD E New York Stock Exchange US USD 10. Feb 2014
NYSE SSW.PRD PERP PFD-D New York Stock Exchange US USD 10. Dec 2012
Number of employees
Current staff
Staff numbers
4,600
Seaspan employees.
Industry
Marine
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/12 20:59
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/09/30
Last earnings filing: 2019/08/14
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.