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Scorpio Bulkers

DB:SR41
Snowflake Description

Good value with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SR41
DB
$500M
Market Cap
  1. Home
  2. DE
  3. Transportation
Company description

Scorpio Bulkers Inc., a shipping company, owns and operates dry bulk carriers worldwide. The last earnings update was 82 days ago. More info.


Add to Portfolio Compare Print
  • Scorpio Bulkers has significant price volatility in the past 3 months.
SR41 Share Price and Events
7 Day Returns
22.4%
DB:SR41
4.1%
Europe Shipping
2.5%
DE Market
1 Year Returns
14.5%
DB:SR41
6.2%
Europe Shipping
2.6%
DE Market
SR41 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Scorpio Bulkers (SR41) 22.4% 6.5% 20.2% 14.5% 95.5% -85.1%
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
  • SR41 outperformed the Shipping industry which returned 6.2% over the past year.
  • SR41 outperformed the Market in Germany which returned 2.6% over the past year.
Price Volatility
SR41
Industry
5yr Volatility vs Market

SR41 Value

 Is Scorpio Bulkers 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 Scorpio Bulkers 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 Scorpio Bulkers.

DB:SR41 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.5%
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:SR41
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- 33%) (171.56%))
1.386
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.39
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.386 * 5.96%)
8.49%

Discounted Cash Flow Calculation for DB:SR41 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Scorpio Bulkers 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:SR41 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.49%)
2020 22.19 Analyst x2 20.45
2021 117.92 Analyst x2 100.19
2022 197.06 Est @ 67.12% 154.33
2023 289.77 Est @ 47.05% 209.19
2024 385.41 Est @ 33% 256.47
2025 474.71 Est @ 23.17% 291.18
2026 552.03 Est @ 16.29% 312.12
2027 615.35 Est @ 11.47% 320.70
2028 665.18 Est @ 8.1% 319.55
2029 703.34 Est @ 5.74% 311.44
Present value of next 10 years cash flows $2,295.00
DB:SR41 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $703.34 × (1 + 0.23%) ÷ (8.49% – 0.23%)
$8,535.26
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $8,535.26 ÷ (1 + 8.49%)10
$3,779.48
DB:SR41 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $2,295.00 + $3,779.48
$6,074.48
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $6,074.48 / 68.73
$88.38
DB:SR41 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:SR41 represents 0.89973x of NYSE:SALT
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.89973x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 88.38 x 0.89973
€79.51
Value per share (EUR) From above. €79.51
Current discount Discount to share price of €6.55
= -1 x (€6.55 - €79.51) / €79.51
91.8%

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

Current Discount
Amount off the current price Scorpio Bulkers is available for.
Intrinsic value
>50%
Share price is €6.55 vs Future cash flow value of €79.51
Current Discount Checks
For Scorpio Bulkers to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Scorpio Bulkers's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Scorpio Bulkers'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 Scorpio Bulkers's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Scorpio Bulkers's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:SR41 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $0.34
NYSE:SALT Share Price ** NYSE (2019-10-11) in USD $7.28
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 Scorpio Bulkers.

DB:SR41 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 7.28 ÷ 0.34

21.23x

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

  • Scorpio Bulkers is overvalued based on earnings compared to the Europe Shipping industry average.
  • Scorpio Bulkers is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Scorpio Bulkers's expected growth come at a high price?
Raw Data
DB:SR41 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 21.23x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
23.9%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:SR41 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 21.23x ÷ 23.9%

0.89x

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

  • Scorpio Bulkers is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Scorpio Bulkers's assets?
Raw Data
DB:SR41 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $13.21
NYSE:SALT Share Price * NYSE (2019-10-11) in USD $7.28
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:SR41 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 7.28 ÷ 13.21

0.55x

* Primary Listing of Scorpio Bulkers.

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

  • Scorpio Bulkers is good value based on assets compared to the Europe Shipping industry average.
X
Value checks
We assess Scorpio Bulkers'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. Scorpio Bulkers 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.

SR41 Future Performance

 How is Scorpio Bulkers expected to perform in the next 1 to 3 years based on estimates from 9 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
23.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Scorpio Bulkers expected to grow at an attractive rate?
  • Scorpio Bulkers's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Scorpio Bulkers's earnings growth is expected to exceed the Germany market average.
  • Scorpio Bulkers's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:SR41 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:SR41 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 23.9%
DB:SR41 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 13.3%
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:SR41 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:SR41 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 297 135 46 4
2020-12-31 284 84 47 9
2019-12-31 230 55 33 6
2019-10-12
DB:SR41 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 227 42 24
2019-03-31 239 64 -10
2018-12-31 243 70 -13
2018-09-30 228 64 -6
2018-06-30 205 51 -17
2018-03-31 182 32 -31
2017-12-31 162 20 -60
2017-09-30 138 4 -79
2017-06-30 123 -6 -90
2017-03-31 103 -26 -101
2016-12-31 78 -52 -125
2016-09-30 74 -68 -406

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Scorpio Bulkers's earnings are expected to grow significantly at over 20% yearly.
  • Scorpio Bulkers's revenue is expected to grow by 13.3% 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:SR41 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 9 Analyst Estimates (S&P Global) See Below

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

DB:SR41 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.77 1.11 0.19 3.00
2020-12-31 0.68 0.92 0.49 6.00
2019-12-31 0.56 0.80 0.41 5.00
2019-10-12
DB:SR41 Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 0.34
2019-03-31 -0.15
2018-12-31 -0.18
2018-09-30 -0.09
2018-06-30 -0.23
2018-03-31 -0.43
2017-12-31 -0.83
2017-09-30 -1.10
2017-06-30 -1.25
2017-03-31 -1.52
2016-12-31 -2.22
2016-09-30 -9.01

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

SR41 Past Performance

  How has Scorpio Bulkers 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 Scorpio Bulkers'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.
  • Scorpio Bulkers has delivered over 20% year on year earnings growth in the past 5 years.
  • Scorpio Bulkers has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Scorpio Bulkers has become profitable in the last year making it difficult to compare the Europe Shipping industry average.
Earnings and Revenue History
Scorpio Bulkers'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 Scorpio Bulkers Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:SR41 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 227.08 23.77 32.21
2019-03-31 238.60 -10.40 31.30
2018-12-31 242.50 -12.70 32.39
2018-09-30 228.46 -6.39 29.83
2018-06-30 204.60 -16.72 30.04
2018-03-31 181.73 -30.93 30.26
2017-12-31 162.21 -59.73 29.08
2017-09-30 137.92 -79.22 31.25
2017-06-30 123.25 -89.81 32.89
2017-03-31 102.89 -101.14 33.94
2016-12-31 78.40 -124.84 34.00
2016-09-30 73.57 -406.30 34.88
2016-06-30 64.82 -403.09 34.89
2016-03-31 60.50 -516.98 34.85
2015-12-31 62.52 -510.79 35.38
2015-09-30 58.24 -280.76 34.30
2015-06-30 55.39 -281.62 33.29
2015-03-31 55.79 -157.97 33.19
2014-12-31 48.99 -116.57 31.76
2014-09-30 31.26 -50.24 30.05
2013-12-31 -8.41 7.34

*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.
  • Scorpio Bulkers has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Scorpio Bulkers used its assets less efficiently than the Europe Shipping industry average last year based on Return on Assets.
  • Scorpio Bulkers has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Scorpio Bulkers'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.
Scorpio Bulkers 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.

SR41 Health

 How is Scorpio Bulkers'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 Scorpio Bulkers's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Scorpio Bulkers is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Scorpio Bulkers's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Scorpio Bulkers'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 0.3x 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 Scorpio Bulkers Company Filings, last reported 3 months ago.

DB:SR41 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 893.75 552.95 139.30
2019-03-31 858.09 740.89 50.82
2018-12-31 860.80 828.57 67.50
2018-09-30 894.39 735.72 142.81
2018-06-30 904.77 686.09 54.78
2018-03-31 903.55 684.68 52.79
2017-12-31 917.38 715.58 68.54
2017-09-30 908.46 515.07 62.40
2017-06-30 916.19 606.25 149.32
2017-03-31 925.98 628.24 126.60
2016-12-31 956.62 579.47 101.73
2016-09-30 972.71 570.77 200.89
2016-06-30 988.95 523.36 241.74
2016-03-31 941.53 494.57 230.19
2015-12-31 934.53 521.72 200.30
2015-09-30 1,229.76 402.22 274.09
2015-06-30 1,240.50 238.86 372.37
2015-03-31 1,154.31 212.65 146.96
2014-12-31 1,199.99 107.18 272.67
2014-09-30 1,120.07 65.00 218.59
2013-12-31 1,104.21 0.00 733.90
  • Scorpio Bulkers's level of debt (61.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (3.9% vs 61.9% today).
  • Debt is not well covered by operating cash flow (7.6%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 0.6x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Scorpio Bulkers'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. Scorpio Bulkers has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

SR41 Dividends

 What is Scorpio Bulkers'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
1.1%
Current annual income from Scorpio Bulkers dividends. Estimated to be 1.17% next year.
If you bought €2,000 of Scorpio Bulkers shares you are expected to receive €22 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?
  • Scorpio Bulkers's pays a lower dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • Scorpio Bulkers'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:SR41 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 9 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:SR41 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.09 3.00
2020-12-31 0.09 4.00
2019-12-31 0.09 4.00
2019-10-12
DB:SR41 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-07-22 0.080 1.307
2019-04-29 0.080 1.645
2019-03-20 0.080 1.839
2019-01-28 0.080 1.850
2018-10-22 0.080 1.367
2018-07-26 0.080 1.160
2018-04-23 0.080 1.078
2018-03-02 0.080 1.100
2018-02-05 0.080 1.028
2017-10-24 0.080 1.050
2017-10-23 0.080 0.939

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

  • Whilst dividend payments have been stable, Scorpio Bulkers has been paying a dividend for less than 10 years.
  • Scorpio Bulkers has only been paying a dividend for 2 years, and since then there has been no growth.
Current Payout to shareholders
What portion of Scorpio Bulkers's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (9x coverage).
X
Income/ dividend checks
We assess Scorpio Bulkers'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 Scorpio Bulkers afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Scorpio Bulkers has a total score of 2/6, see the detailed checks below.


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

SR41 Management

 What is the CEO of Scorpio Bulkers'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
Emanuele Lauro
AGE 40
TENURE AS CEO 6.3 years
CEO Bio

Mr. Emanuele A. Lauro is the Chairman and Chief Executive Officer of Nordic American Offshore Ltd. since December 11, 2018 and serves as its Secretary. He is a Co-Founder of Scorpio Bulkers Inc. and has been its Chairman and Chief Executive Officer since April 9, 2013 and July 1, 2013 respectively. Mr. Lauro is the Founder of Scorpio Tankers Inc., and has been its Chairman and Chief Executive Officer since April 6, 2010. He joined Scorpio Group in 2003 and has been its Chief Executive Officer since 2004. He has been the Vice President of the Chamber of Shipping of Monaco since 2006. He was the Founder of RockTree Logistics Pte. Ltd. Over the course of the last six years, he has founded and developed the Scorpio Aframax Tanker Pool, Scorpio Panamax Tanker Pool and the Scorpio Handymax Tanker Pool which employ 10, 20 and 27 vessels, respectively, from Scorpio Group and third party participants. Mr. Lauro also founded Scorpio Logistics in May 2007. Furthermore, he formed a joint venture with Koenig & cie., Scorship Navigation, in August 2005 which engages in the identification, placement and management of certain international shipping investments on behalf of German investors. In addition, he developed a joint venture company, Crewtech Philippines, in May 2007 which screens, trains and manages vessel staff for various third party owners of drybulk and tanker vessels. He serves as a Director of Scorpio Tankers Inc. He serves as a Director of United Shippers Limited. He has been a Director of Scorpio Bulkers Inc. since April 9, 2013. Mr. Lauro has a degree in international business from the European Business School, London.

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

Average tenure and age of the Scorpio Bulkers management team in years:

6.3
Average Tenure
51
Average Age
  • The average tenure for the Scorpio Bulkers management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Emanuele Lauro

TITLE
Co-Founder
AGE
40
TENURE
6.3 yrs

Robert Bugbee

TITLE
Co-Founder
AGE
59
TENURE
6.3 yrs

Hugh Baker

TITLE
Chief Financial Officer
AGE
51
TENURE
6.3 yrs

Cam Mackey

TITLE
Chief Operating Officer
AGE
51
TENURE
6.3 yrs

Yang Fan

TITLE
Secretary
AGE
30
TENURE
0.8 yrs
Board of Directors Tenure

Average tenure and age of the Scorpio Bulkers board of directors in years:

5.8
Average Tenure
63
Average Age
  • The tenure for the Scorpio Bulkers board of directors is about average.
Board of Directors

Robert Bugbee

TITLE
Co-Founder
AGE
59
TENURE
6.5 yrs

Einar Steimler

TITLE
Lead Independent Director
AGE
71

Emanuele Lauro

TITLE
Co-Founder
AGE
40
TENURE
6.5 yrs

Roberto Giorgi

TITLE
Independent Director
AGE
69
TENURE
5.8 yrs

Christian Gut

TITLE
Independent Director
AGE
40
TENURE
5.8 yrs

Jim Nish

TITLE
Independent Director
AGE
60
TENURE
3.8 yrs

Tom Ostrander

TITLE
Independent Director
AGE
68
TENURE
3.8 yrs

Berit Henriksen

TITLE
Independent Director
AGE
66
TENURE
0.7 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 Scorpio Bulkers'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. Scorpio Bulkers 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.

SR41 News

Simply Wall St News

SR41 Company Info

Description

Scorpio Bulkers Inc., a shipping company, owns and operates dry bulk carriers worldwide. Its vessels transport a range of bulk commodities, including ores, coal, grains, and fertilizers. The company owns and operates 55 vessels, including 54 wholly-owned or finance leased drybulk vessels comprising 17 Kamsarmax vessels and 37 Ultramax vessels; and 1 time chartered-in Ultramax vessel. Scorpio Bulkers Inc. was founded in 2013 and is based in Monaco.

Details
Name: Scorpio Bulkers Inc.
SR41
Exchange: DB
Founded: 2013
$452,849,187
68,734,319
Website: http://www.scorpiobulkers.com
Address: Scorpio Bulkers Inc.
Le Millenium,
9, Boulevard Charles III,
Monaco,
98000,
Monaco
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE SALT Common Stock New York Stock Exchange US USD 10. Jul 2013
DB SR41 Common Stock Deutsche Boerse AG DE EUR 10. Jul 2013
Number of employees
Current staff
Staff numbers
6
Scorpio Bulkers employees.
Industry
Marine
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/12 22:22
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/09/24
Last earnings filing: 2019/07/22
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.