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Pacific Basin Shipping

SEHK:2343
Snowflake Description

Fair value with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
2343
SEHK
HK$8B
Market Cap
  1. Home
  2. HK
  3. Transportation
Company description

Pacific Basin Shipping Limited, an investment holding company, provides dry bulk shipping services worldwide. The last earnings update was 93 days ago. More info.


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2343 Share Price and Events
7 Day Returns
-2.4%
SEHK:2343
-4.2%
HK Shipping
-4.2%
HK Market
1 Year Returns
-5.7%
SEHK:2343
-5%
HK Shipping
-2.6%
HK Market
2343 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Pacific Basin Shipping (2343) -2.4% -3% 9.3% -5.7% 22.4% -51.8%
HK Shipping -4.2% -0.8% 7.9% -5% -8.7% -28.3%
HK Market -4.2% -1.4% 3.5% -2.6% 7.6% -1%
1 Year Return vs Industry and Market
  • 2343 matched the Shipping industry (-5%) over the past year.
  • 2343 underperformed the Market in Hong Kong which returned -2.6% over the past year.
Price Volatility
2343
Industry
5yr Volatility vs Market

2343 Value

 Is Pacific Basin Shipping 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 Pacific Basin Shipping 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 Pacific Basin Shipping.

SEHK:2343 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.4%
Perpetual Growth Rate 10-Year HK Government Bond Rate 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 SEHK:2343
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.7%
Shipping Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.747 (1 + (1- 25%) (113.98%))
1.259
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.26
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.259 * 6.65%)
10.37%

Discounted Cash Flow Calculation for SEHK:2343 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Pacific Basin Shipping 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.

SEHK:2343 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 10.37%)
2020 115.50 Analyst x2 104.64
2021 160.00 Analyst x2 131.34
2022 194.27 Est @ 21.42% 144.48
2023 224.56 Est @ 15.59% 151.31
2024 250.42 Est @ 11.52% 152.88
2025 272.11 Est @ 8.66% 150.50
2026 290.25 Est @ 6.66% 145.45
2027 305.53 Est @ 5.27% 138.71
2028 318.63 Est @ 4.29% 131.06
2029 330.11 Est @ 3.6% 123.02
Present value of next 10 years cash flows $1,373.00
SEHK:2343 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $330.11 × (1 + 2%) ÷ (10.37% – 2%)
$4,022.43
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $4,022.43 ÷ (1 + 10.37%)10
$1,499.06
SEHK:2343 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,373.00 + $1,499.06
$2,872.06
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,872.06 / 4,713.71
$0.61
SEHK:2343 Discount to Share Price
Calculation Result
Exchange Rate USD/HKD
(Reporting currency to currency of SEHK:2343)
7.826
Value per Share
(HKD)
= Value per Share in USD x Exchange Rate (USD/HKD)
= $0.61 x 7.826
HK$4.77
Value per share (HKD) From above. HK$4.77
Current discount Discount to share price of HK$1.64
= -1 x (HK$1.64 - HK$4.77) / HK$4.77
65.6%

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

Current Discount
Amount off the current price Pacific Basin Shipping is available for.
Intrinsic value
>50%
Share price is HK$1.64 vs Future cash flow value of HK$4.77
Current Discount Checks
For Pacific Basin Shipping to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Pacific Basin Shipping's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Pacific Basin Shipping'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 Pacific Basin Shipping's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Pacific Basin Shipping's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:2343 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $0.01
SEHK:2343 Share Price ** SEHK (2019-11-15) in HKD HK$1.64
SEHK:2343 Share Price converted to USD reporting currency Exchange rate (HKD/ USD) 0.128 $0.21
Hong Kong Shipping Industry PE Ratio Median Figure of 13 Publicly-Listed Shipping Companies 12.54x
Hong Kong Market PE Ratio Median Figure of 1,479 Publicly-Listed Companies 10.1x

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

** Primary Listing of Pacific Basin Shipping.

SEHK:2343 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:2343 Share Price ÷ EPS (both in USD)

= 0.21 ÷ 0.01

18.89x

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

  • Pacific Basin Shipping is overvalued based on earnings compared to the HK Shipping industry average.
  • Pacific Basin Shipping is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Pacific Basin Shipping's expected growth come at a high price?
Raw Data
SEHK:2343 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 18.89x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
51.5%per year
Asia Shipping Industry PEG Ratio Median Figure of 20 Publicly-Listed Shipping Companies 1.19x
Hong Kong Market PEG Ratio Median Figure of 478 Publicly-Listed Companies 0.71x

*Line of best fit is calculated by linear regression .

SEHK:2343 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 18.89x ÷ 51.5%

0.37x

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

  • Pacific Basin Shipping is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Pacific Basin Shipping's assets?
Raw Data
SEHK:2343 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $0.27
SEHK:2343 Share Price * SEHK (2019-11-15) in HKD HK$1.64
SEHK:2343 Share Price converted to USD reporting currency Exchange rate (HKD/ USD) 0.128 $0.21
Hong Kong Shipping Industry PB Ratio Median Figure of 13 Publicly-Listed Shipping Companies 0.77x
Hong Kong Market PB Ratio Median Figure of 2,196 Publicly-Listed Companies 0.85x
SEHK:2343 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:2343 Share Price ÷ Book Value per Share (both in USD)

= 0.21 ÷ 0.27

0.79x

* Primary Listing of Pacific Basin Shipping.

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

  • Pacific Basin Shipping is overvalued based on assets compared to the HK Shipping industry average.
X
Value checks
We assess Pacific Basin Shipping'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. Pacific Basin Shipping has a total score of 3/6, 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.

2343 Future Performance

 How is Pacific Basin Shipping expected to perform in the next 1 to 3 years based on estimates from 8 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
51.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Pacific Basin Shipping expected to grow at an attractive rate?
  • Pacific Basin Shipping's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Pacific Basin Shipping's earnings growth is expected to exceed the Hong Kong market average.
  • Pacific Basin Shipping's revenue growth is positive but not above the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:2343 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:2343 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 51.5%
SEHK:2343 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 8.6%
Hong Kong Shipping Industry Earnings Growth Rate Market Cap Weighted Average 0.1%
Asia Shipping Industry Revenue Growth Rate Market Cap Weighted Average 5.2%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.4%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.3%

*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
SEHK:2343 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:2343 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 1,889 262 138 6
2020-12-31 1,784 226 97 8
2019-12-31 1,596 174 46 8
2019-11-17
SEHK:2343 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 1,563 210 50
2019-03-31 1,577 200 61
2018-12-31 1,592 190 72
2018-09-30 1,586 169 59
2018-06-30 1,581 149 46
2018-03-31 1,534 137 25
2017-12-31 1,488 125 4
2017-09-30 1,395 107 -23
2017-06-30 1,302 89 -49
2017-03-31 1,195 69 -68
2016-12-31 1,087 50 -87
2016-09-30 1,101 49 -80

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Pacific Basin Shipping's earnings are expected to grow significantly at over 20% yearly.
  • Pacific Basin Shipping's revenue is expected to grow by 8.6% 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
SEHK:2343 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Pacific Basin Shipping Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2343 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.03 0.05 0.02 5.00
2020-12-31 0.02 0.04 0.02 7.00
2019-12-31 0.01 0.02 0.00 7.00
2019-11-17
SEHK:2343 Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 0.01
2019-03-31 0.01
2018-12-31 0.02
2018-09-30 0.01
2018-06-30 0.01
2018-03-31 0.01
2017-12-31 0.00
2017-09-30 -0.01
2017-06-30 -0.01
2017-03-31 -0.02
2016-12-31 -0.03
2016-09-30 -0.03

*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.
  • Pacific Basin Shipping is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Pacific Basin Shipping'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 Hong Kong market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Asia 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.
Pacific Basin Shipping has a total score of 3/6, 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.

2343 Past Performance

  How has Pacific Basin Shipping 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 Pacific Basin Shipping'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.
  • Pacific Basin Shipping has delivered over 20% year on year earnings growth in the past 5 years.
  • Pacific Basin Shipping's 1-year earnings growth is less than its 5-year average (7.4% vs 63.5%)
  • Pacific Basin Shipping's earnings growth has not exceeded the HK Shipping industry average in the past year (7.4% vs 7.4%).
Earnings and Revenue History
Pacific Basin Shipping'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 Pacific Basin Shipping Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2343 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 1,563.06 49.75 5.96
2019-03-31 1,577.31 61.02 5.98
2018-12-31 1,591.56 72.28 6.00
2018-09-30 1,586.15 59.31 5.62
2018-06-30 1,580.74 46.33 5.24
2018-03-31 1,534.38 24.97 5.28
2017-12-31 1,488.02 3.61 5.31
2017-09-30 1,394.97 -22.55 5.80
2017-06-30 1,301.92 -48.72 6.28
2017-03-31 1,194.64 -67.63 6.02
2016-12-31 1,087.37 -86.55 5.75
2016-09-30 1,100.74 -80.32 5.77
2016-06-30 1,114.11 -74.09 5.79
2016-03-31 1,187.20 -46.32 5.87
2015-12-31 1,260.29 -18.54 5.95
2015-09-30 1,351.67 -103.67 7.59
2015-06-30 1,443.04 -188.81 9.22
2015-03-31 1,580.75 -234.28 10.03
2014-12-31 1,718.45 -279.74 10.83
2014-09-30 1,785.21 -182.24 11.91
2014-06-30 1,851.97 -84.73 12.99
2014-03-31 1,780.38 -37.44 15.27
2013-12-31 1,708.79 9.86 17.56
2013-09-30 1,613.84 34.48 17.88
2013-06-30 1,518.88 59.11 18.19
2013-03-31 1,480.98 55.67 16.24
2012-12-31 1,443.09 52.22 14.29

*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.
  • Pacific Basin Shipping has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Pacific Basin Shipping used its assets less efficiently than the HK Shipping industry average last year based on Return on Assets.
  • Pacific Basin Shipping 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 Pacific Basin Shipping'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.
Pacific Basin Shipping 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.

2343 Health

 How is Pacific Basin Shipping'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 Pacific Basin Shipping's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Pacific Basin Shipping is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Pacific Basin Shipping's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Pacific Basin Shipping'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 0.5x 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 Pacific Basin Shipping Company Filings, last reported 4 months ago.

SEHK:2343 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 1,237.51 1,002.88 313.69
2019-03-31 1,237.51 1,002.88 313.69
2018-12-31 1,231.21 961.66 341.74
2018-09-30 1,231.21 961.66 341.74
2018-06-30 1,195.13 974.17 317.02
2018-03-31 1,195.13 974.17 317.02
2017-12-31 1,161.14 880.97 244.64
2017-09-30 1,161.14 880.97 244.64
2017-06-30 1,029.58 953.11 247.52
2017-03-31 1,029.58 953.11 247.52
2016-12-31 1,040.77 840.04 269.15
2016-09-30 1,040.77 840.04 269.15
2016-06-30 1,067.44 877.93 406.06
2016-03-31 1,067.44 877.93 406.06
2015-12-31 970.94 930.43 358.37
2015-09-30 970.94 930.43 358.37
2015-06-30 994.93 920.40 379.72
2015-03-31 994.93 920.40 379.72
2014-12-31 1,001.75 989.41 361.73
2014-09-30 1,001.75 989.41 361.73
2014-06-30 1,216.11 964.81 317.81
2014-03-31 1,216.11 964.81 317.81
2013-12-31 1,304.29 1,025.72 483.20
2013-09-30 1,304.29 1,025.72 483.20
2013-06-30 1,296.18 782.54 408.14
2013-03-31 1,296.18 782.54 408.14
2012-12-31 1,332.02 797.14 633.12
  • Pacific Basin Shipping's level of debt (81%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (79.5% vs 81% today).
  • Debt is well covered by operating cash flow (21%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.9x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Pacific Basin Shipping'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. Pacific Basin Shipping 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.

2343 Dividends

 What is Pacific Basin Shipping'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
0%
Current annual income from Pacific Basin Shipping dividends. Estimated to be 4.54% next year.
If you bought HK$2,000 of Pacific Basin Shipping shares you are expected to receive HK$0 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?
  • Unable to evaluate Pacific Basin Shipping's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Pacific Basin Shipping's dividend against the top 25% market benchmark as the company has not reported any payouts.
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
SEHK:2343 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 8 Analyst Estimates (S&P Global) See Below
Asia Shipping Industry Average Dividend Yield Market Cap Weighted Average of 53 Stocks 3.4%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 971 Stocks 3.8%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.3%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2.3%
Hong Kong Top 25% Dividend Yield 75th Percentile 6.4%

Industry and Market average data is calculated daily.

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

SEHK:2343 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.01 5.00
2020-12-31 0.01 7.00
2019-12-31 0.00 7.00
2019-11-17
SEHK:2343 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-08-16 0.000 0.000
2019-07-31 0.000 0.000
2019-03-12 0.010 5.055
2019-02-28 0.010 4.694
2018-07-31 0.006 2.882
2016-08-17 0.000 0.000
2016-07-29 0.000 0.000
2016-03-15 0.000 0.000
2016-02-29 0.000 0.000
2015-03-17 0.006 2.150
2015-02-26 0.006 1.702
2014-03-14 0.006 1.182
2014-02-27 0.006 0.939
2013-03-15 0.006 0.957
2013-02-28 0.006 0.983
2012-08-01 0.000 0.000
2012-03-01 0.013 2.715
2011-08-03 0.028 6.200
2011-03-01 0.028 4.682
2010-08-18 0.012 1.738
2010-08-03 0.025 3.465
2010-03-02 0.038 5.268
2009-08-11 0.021 2.757
2009-03-16 0.000 0.000
2009-03-02 0.000 0.000

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

  • Unable to perform a dividend volatility check as Pacific Basin Shipping has not reported any payouts.
  • Unable to verify if Pacific Basin Shipping's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Pacific Basin Shipping's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Pacific Basin Shipping has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (2x coverage).
X
Income/ dividend checks
We assess Pacific Basin Shipping's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - 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 Pacific Basin Shipping afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Pacific Basin Shipping has a total score of 1/6, see the detailed checks below.


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

2343 Management

 What is the CEO of Pacific Basin Shipping'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
Mats Berglund
COMPENSATION $2,144,000
AGE 56
TENURE AS CEO 7.4 years
CEO Bio

Mr. Mats Henrik Berglund has been the Chief Executive Officer of Pacific Basin Shipping Ltd. since June 1, 2012. Mr. Berglund is working as a Board of Director at Ardmore Shipping Corp from September 27, 2018. Mr. Berglund served as the Chief Operating Officer and Chief Financial Officer of Chemoil Energy Limited from March 1, 2011 to May 2012. He served as Senior Vice President and Head of International Crude Transportation Strategic Business Unit of Overseas Shipholding Group Inc. from July 11, 2005 to March 2, 2011. He was responsible for OSG's VLCC, Aframax and Panamax tanker operations. He served as Senior Vice President at OSG. Since January 2003, he served as President of Stena Rederi AB and served as its Vice President from 2000 to 2002. From 1997 to 2000, he served as President of StenTex LLC from 1995 to 1996 and it’s Vice President, where he developed a successful first class commercial tanker organization that more than doubled its business under his leadership. From 1991 to 1995, Mr. Berglund served as Vice President and Chief Financial Officer of Concordia Maritime AB. Most recently, he structured and led the successful initial public offering of Arlington Tankers and the listing of its common stock on the New York Stock Exchange, a transaction that has become a trend setter in the shipping industry. He served as Executive Vice President of Stena Rederi from 2002 to 2003 and has served as Financial Manager of Concordia and served from 1995 to 2000 in Stena AB's oil and petroleum products transportation business. He has been Chairman of the Board of Northern Marine Management Ltd. since 2003 and has been employed in the Stena Sphere since 1986. Mr. Berglund has been an Executive Director of Pacific Basin Shipping Ltd. since June 1, 2012. He served as a Director of Stena Bulk AB since 2001. He served as a Director of OSG subsidiaries & UVs; Panamax International Shipping Co. & Pool; Chemoil subsidiaries and affiliates; Suezmax International Shipping Co & Pool and Aframax International Shipping Co & Pool. He graduated in 1986 with a master’s degree in Business and Finance from the University of Gothenburg, Sweden and also attended the Advanced Management Program from Harvard in 2000.

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

Average tenure and age of the Pacific Basin Shipping management team in years:

5.1
Average Tenure
62
Average Age
  • The average tenure for the Pacific Basin Shipping management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

David Turnbull

TITLE
Executive Chairman
COMPENSATION
$723K
AGE
64
TENURE
11.8 yrs

Mats Berglund

TITLE
CEO & Executive Director
COMPENSATION
$2M
AGE
56
TENURE
7.4 yrs

Peter Schulz

TITLE
CFO & Executive Director
COMPENSATION
$1M
AGE
46
TENURE
2.3 yrs

Suresh Prabhakar

TITLE
Director of Operations
AGE
62

P. Subbiah

TITLE
Director of Human Resources & Administration

Emily Lau

TITLE
General Manager of Investor Relations
TENURE
2.8 yrs

Vivien Shum

TITLE
Director of Insurance & Legal

Daigoro Oyama

TITLE
Director of Sale & Purchase
TENURE
2.8 yrs

Vergara Hernan

TITLE
Chief Engineer Columbia River

Ben Lee

TITLE
President of Pacific Basin Shipping Consulting Ltd - Shanghai
AGE
64
TENURE
15.2 yrs
Board of Directors Tenure

Average tenure and age of the Pacific Basin Shipping board of directors in years:

9.6
Average Tenure
63
Average Age
  • The tenure for the Pacific Basin Shipping board of directors is about average.
Board of Directors

David Turnbull

TITLE
Executive Chairman
COMPENSATION
$723K
AGE
64
TENURE
11.8 yrs

Mats Berglund

TITLE
CEO & Executive Director
COMPENSATION
$2M
AGE
56
TENURE
7.4 yrs

Peter Schulz

TITLE
CFO & Executive Director
COMPENSATION
$1M
AGE
46
TENURE
1.3 yrs

Robert Charles Nicholson

TITLE
Independent Non-Executive Director
COMPENSATION
$96K
AGE
64
TENURE
15.7 yrs

Patrick Blackwell Paul

TITLE
Independent Non-Executive Director
COMPENSATION
$102K
AGE
72
TENURE
15.7 yrs

Daniel Bradshaw

TITLE
Independent Non-Executive Director
COMPENSATION
$89K
AGE
72
TENURE
13.6 yrs

Alasdair George Morrison

TITLE
Independent Non-Executive Director
COMPENSATION
$89K
AGE
71
TENURE
11.8 yrs

Irene Basili

TITLE
Independent Non-Executive Director
COMPENSATION
$95K
AGE
52
TENURE
5.5 yrs

Stan Ryan

TITLE
Independent Non-Executive Director
COMPENSATION
$100K
AGE
58
TENURE
3.3 yrs

Kirsi Kyllikki Tikka

TITLE
Independent Non-Executive Director
AGE
62
TENURE
0.2 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 (HK$) Value (HK$)
11. Nov 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 06. Nov 19 06. Nov 19 -15,768,500 HK$1.70 HK$-26,866,395
06. Nov 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 01. Nov 19 01. Nov 19 31,068,828 HK$1.73 HK$53,649,756
05. Nov 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 31. Oct 19 31. Oct 19 114,561,976 HK$1.82 HK$208,949,436
29. Oct 19 Sell Invesco Ltd. Company 25. Oct 19 25. Oct 19 -9,069,000 HK$1.70 HK$-15,446,326
14. Aug 19 Buy Citigroup Inc.,Banking and Securities Investments Company 09. Aug 19 09. Aug 19 900,000 HK$1.50 HK$1,350,000
07. Aug 19 Buy Citigroup Inc.,Banking and Securities Investments Company 02. Aug 19 02. Aug 19 586,000 HK$1.58 HK$925,882
07. Aug 19 Sell Standard Life Aberdeen plc Company 05. Aug 19 05. Aug 19 -5,000,000 HK$1.49 HK$-7,454,497
22. May 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 17. May 19 17. May 19 1,029,495 HK$1.46 HK$1,502,958
22. May 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 17. May 19 17. May 19 -588,000 HK$1.46 HK$-858,420
22. May 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 17. May 19 17. May 19 588,000 HK$1.46 HK$858,420
21. May 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 16. May 19 16. May 19 -32,640,874 HK$1.48 HK$-48,230,153
17. Apr 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 12. Apr 19 12. Apr 19 -1,062,093 HK$1.68 HK$-1,783,152
17. Apr 19 Sell J.P. Morgan Asset Management, Inc. Company 12. Apr 19 12. Apr 19 -32,523,042 HK$1.68 HK$-54,603,063
16. Apr 19 Buy J.P. Morgan Asset Management, Inc. Company 11. Apr 19 11. Apr 19 32,669,915 HK$1.63 HK$53,307,388
02. Apr 19 Buy Invesco Ltd. Company 28. Mar 19 28. Mar 19 3,986,000 HK$1.68 HK$6,682,522
15. Mar 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 12. Mar 19 12. Mar 19 -398,752 HK$1.65 HK$-657,821
01. Mar 19 Buy J.P. Morgan Asset Management, Inc. Company 26. Feb 19 26. Feb 19 2,305,200 HK$1.76 HK$4,046,325
28. Feb 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 25. Feb 19 25. Feb 19 -1,291,295 HK$1.80 HK$-2,319,038
18. Feb 19 Sell Standard Life Aberdeen plc Company 15. Feb 19 15. Feb 19 -3,500,000 HK$1.62 HK$-5,669,988
14. Feb 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 12. Feb 19 12. Feb 19 4,202,074 HK$1.59 HK$6,668,688
31. Jan 19 Buy Standard Life Aberdeen plc Company 30. Jan 19 30. Jan 19 3,000,000 HK$1.49 HK$4,469,990
16. Jan 19 Sell Standard Life Aberdeen plc Company 15. Jan 19 15. Jan 19 -2,700,000 HK$1.53 HK$-4,130,997
15. Jan 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 10. Jan 19 10. Jan 19 -4,104,239 HK$1.54 HK$-6,337,340
24. Dec 18 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 20. Dec 18 20. Dec 18 90,938,335 HK$1.61 HK$146,592,422
26. Dec 18 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 21. Dec 18 21. Dec 18 -125,608,035 HK$1.56 HK$-196,337,529
14. Dec 18 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 12. Dec 18 12. Dec 18 7,121,177 HK$1.75 HK$12,450,646
07. Dec 18 Sell Mats Berglund Individual 05. Dec 18 05. Dec 18 -1,000,000 HK$1.85 HK$-1,850,001
X
Management checks
We assess Pacific Basin Shipping'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. Pacific Basin Shipping 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.

2343 News

Simply Wall St News

A Holistic Look At Pacific Basin Shipping Limited (HKG:2343)

Pacific Basin Shipping Limited (HKG:2343) is a stock with outstanding fundamental characteristics. … For those interested in understanding where the figures come from and want to see the analysis, take a look at the report on Pacific Basin Shipping here.Good value with proven track record Over the past few years, 2343 has demonstrated a proven ability to generate robust returns of 3.3% Not surprisingly, 2343 outperformed its industry which returned 3.3%, giving us more conviction of the company's capacity to drive bottom-line growth going forward. … SEHK:2343 Income Statement, September 2nd 2019 Next Steps: For Pacific Basin Shipping, there are three fundamental aspects you should further examine: Future Outlook: What are well-informed industry analysts predicting for 2343’s future growth?

Simply Wall St -

Here's Why Pacific Basin Shipping (HKG:2343) Has A Meaningful Debt Burden

SEHK:2343 Historical Debt, August 22nd 2019 A Look At Pacific Basin Shipping's Liabilities According to the last reported balance sheet, Pacific Basin Shipping had liabilities of US$431.2m due within 12 months, and liabilities of US$860.9m due beyond 12 months. … But it is future earnings, more than anything, that will determine Pacific Basin Shipping's ability to maintain a healthy balance sheet going forward. … During the last two years, Pacific Basin Shipping produced sturdy free cash flow equating to 57% of its EBIT, about what we'd expect.

Simply Wall St -

Is Pacific Basin Shipping Limited's (HKG:2343) CEO Overpaid Relative To Its Peers?

According to our data, Pacific Basin Shipping Limited has a market capitalization of HK$6.9b, and pays its CEO total annual compensation worth US$2.1m. … I think that the total shareholder return of 68%, over three years, would leave most Pacific Basin Shipping Limited shareholders smiling. … We examined the amount Pacific Basin Shipping Limited pays its CEO, and compared it to the amount paid by similar sized companies.

Simply Wall St -

How Many Pacific Basin Shipping Limited (HKG:2343) Shares Do Institutions Own?

Taking a look at our data on the ownership groups (below), it's seems that institutional investors have bought into the company. … See our latest analysis for Pacific Basin Shipping SEHK:2343 Ownership Summary, July 29th 2019 What Does The Institutional Ownership Tell Us About Pacific Basin Shipping? … Insider Ownership Of Pacific Basin Shipping The definition of company insiders can be subjective, and does vary between jurisdictions.

Simply Wall St -

Does The Pacific Basin Shipping Limited (HKG:2343) Share Price Fall With The Market?

Anyone researching Pacific Basin Shipping Limited (HKG:2343) might want to consider the historical volatility of the share price. … With a market capitalisation of HK$8.1b, Pacific Basin Shipping is a small cap stock. … What this means for you: Beta only tells us that the Pacific Basin Shipping share price is sensitive to broader market movements.

Simply Wall St -

What Should We Expect From Pacific Basin Shipping Limited's (HKG:2343) Earnings In The Next Couple Of Years?

In March 2019, Pacific Basin Shipping Limited (HKG:2343) released its most recent earnings announcement, which showed that the business benefited from a significant tailwind, more than doubling its earnings from the prior year. … Below, I've presented key growth figures on how market analysts view Pacific Basin Shipping's earnings growth trajectory over the next couple of years and whether the future looks even brighter than the past. … Check out our latest analysis for Pacific Basin Shipping Analysts' expectations for next year seems pessimistic, with earnings falling by a double-digit -45%.

Simply Wall St -

Is There An Opportunity With Pacific Basin Shipping Limited's (HKG:2343) 36% Undervaluation?

Today we will run through one way of estimating the intrinsic value of Pacific Basin Shipping Limited (HKG:2343) by estimating the company's future cash flows and discounting them to their present value. … Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value: 10-year free cash flow (FCF) forecast 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF ($, Millions) $-53.00 $173.00 $152.00 $139.15 $131.76 $127.65 $125.63 $124.99 $125.30 $126.27 Growth Rate Estimate Source Analyst x1 Analyst x2 Analyst x1 Est @ -8.45% Est @ -5.31% Est @ -3.12% Est @ -1.58% Est @ -0.51% Est @ 0.25% Est @ 0.77% Present Value ($, Millions) Discounted @ 9.92% $-48.22 $143.19 $114.45 $95.33 $82.12 $72.38 $64.80 $58.66 $53.49 $49.04 Present Value of 10-year Cash Flow (PVCF)= $685.24m "Est" = FCF growth rate estimated by Simply Wall St We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. … In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 9.9%.

Simply Wall St -

Why Pacific Basin Shipping Limited (HKG:2343) Is An Attractive Investment To Consider

Not only did 2343 outperformed its past performance, its growth also exceeded the Shipping industry expansion, which generated a -16% earnings growth. … Compared to the rest of the shipping industry, 2343 is also trading below its peers, relative to earnings generated. … SEHK:2343 Income Statement, May 29th 2019 Next Steps: For Pacific Basin Shipping, I've put together three key factors you should further examine: Future Outlook: What are well-informed industry analysts predicting for 2343’s future growth?

Simply Wall St -

Pacific Basin Shipping Limited (HKG:2343) Earns A Nice Return On Capital Employed

The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Pacific Basin Shipping: 0.038 = US$76m ÷ (US$2.4b - US$382m) (Based on the trailing twelve months to December 2018.) So, Pacific Basin Shipping has an ROCE of 3.8%. … Do Pacific Basin Shipping's Current Liabilities Skew Its ROCE? … The Bottom Line On Pacific Basin Shipping's ROCE Pacific Basin Shipping has a poor ROCE, and there may be better investment prospects out there.

Simply Wall St -

Is Pacific Basin Shipping Limited (HKG:2343) Potentially Undervalued?

Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price? … A question to answer is whether Pacific Basin Shipping's current trading price of HK$1.62 reflective of the actual value of the? … Let’s take a look at Pacific Basin Shipping’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

2343 Company Info

Description

Pacific Basin Shipping Limited, an investment holding company, provides dry bulk shipping services worldwide. As of September 30, 2019, the company had a fleet of 240 ships, including 141 Handysize vessels and 99 Supramax vessels. It also offers ocean shipping services, shipping consulting and ship agency, crewing, secretarial, and agency and ship management services, as well as issues convertible bonds. Pacific Basin Shipping Limited was founded in 1987 and is headquartered in Wong Chuk Hang, Hong Kong.

Details
Name: Pacific Basin Shipping Limited
2343
Exchange: SEHK
Founded: 1987
HK$7,730,491,796
4,713,714,510
Website: http://www.pacificbasin.com
Address: Pacific Basin Shipping Limited
One Island South,
31st Floor,
Wong Chuk Hang,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 2343 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 14. Jul 2004
OTCPK PCFB.F Ordinary Shares Pink Sheets LLC US USD 14. Jul 2004
DB OYD Ordinary Shares Deutsche Boerse AG DE EUR 14. Jul 2004
SHSC 2343 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 14. Jul 2004
SZSC 2343 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 14. Jul 2004
OTCPK PCFB.Y UNSPONSORED ADR Pink Sheets LLC US USD 11. Nov 2008
Number of employees
Current staff
Staff numbers
4,136
Pacific Basin Shipping employees.
Industry
Marine
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/17 12:31
End of day share price update: 2019/11/15 00:00
Last estimates confirmation: 2019/11/04
Last earnings filing: 2019/08/16
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.