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BW Offshore

OB:BWO
Snowflake Description

Good value with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BWO
OB
NOK12B
Market Cap
  1. Home
  2. NO
  3. Energy
Company description

BW Offshore Limited builds, owns, and operates oil and gas floating production, storage, and offloading vessels (FPSOs); and floating, storage, and offloading vessels (FSOs) to the oil and gas industries in the Asia Pacific, the Americas, the European Union, and West Africa. The last earnings update was 20 days ago. More info.


Add to Portfolio Compare Print
  • BW Offshore has significant price volatility in the past 3 months.
BWO Share Price and Events
7 Day Returns
3.5%
OB:BWO
-0.3%
NO Energy Services
1.6%
NO Market
1 Year Returns
0.6%
OB:BWO
-32.6%
NO Energy Services
-8.3%
NO Market
BWO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
BW Offshore (BWO) 3.5% 48% 19.9% 0.6% 297.6% -83.2%
NO Energy Services -0.3% 14.9% -3.1% -32.6% 12.6% -56.2%
NO Market 1.6% 7.6% 2.7% -8.3% 31.1% 16.1%
1 Year Return vs Industry and Market
  • BWO outperformed the Energy Services industry which returned -32.6% over the past year.
  • BWO outperformed the Market in Norway which returned -8.3% over the past year.
Price Volatility
BWO
Industry
5yr Volatility vs Market

Value

 Is BW Offshore 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 BW Offshore 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 BW Offshore.

OB:BWO 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 11.4%
Perpetual Growth Rate 10-Year NO Government Bond Rate 1.8%

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 OB:BWO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year NO Govt Bond Rate 1.8%
Equity Risk Premium S&P Global 6%
Energy Services Unlevered Beta Simply Wall St/ S&P Global 1.08
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.083 (1 + (1- 21%) (98.91%))
1.623
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.62
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.76% + (1.623 * 5.96%)
11.43%

Discounted Cash Flow Calculation for OB:BWO using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for BW Offshore 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.

OB:BWO DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 11.43%)
2020 365.50 Analyst x4 328.01
2021 341.25 Analyst x4 274.83
2022 327.96 Est @ -3.89% 237.04
2023 320.75 Est @ -2.2% 208.05
2024 317.51 Est @ -1.01% 184.82
2025 316.94 Est @ -0.18% 165.56
2026 318.22 Est @ 0.4% 149.18
2027 320.80 Est @ 0.81% 134.96
2028 324.31 Est @ 1.09% 122.44
2029 328.51 Est @ 1.29% 111.30
Present value of next 10 years cash flows $1,916.00
OB:BWO DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $328.51 × (1 + 1.76%) ÷ (11.43% – 1.76%)
$3,456.84
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $3,456.84 ÷ (1 + 11.43%)10
$1,171.24
OB:BWO Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,916.00 + $1,171.24
$3,087.24
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $3,087.24 / 184.95
$16.69
OB:BWO Discount to Share Price
Calculation Result
Exchange Rate USD/NOK
(Reporting currency to currency of OB:BWO)
8.977
Value per Share
(NOK)
= Value per Share in USD x Exchange Rate (USD/NOK)
= $16.69 x 8.977
NOK149.85
Value per share (NOK) From above. NOK149.85
Current discount Discount to share price of NOK65.60
= -1 x (NOK65.60 - NOK149.85) / NOK149.85
56.2%

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

Current Discount
Amount off the current price BW Offshore is available for.
Intrinsic value
>50%
Share price is NOK65.6 vs Future cash flow value of NOK149.85
Current Discount Checks
For BW Offshore to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • BW Offshore's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • BW Offshore'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 BW Offshore's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are BW Offshore's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OB:BWO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $0.42
OB:BWO Share Price ** OB (2019-09-19) in NOK NOK65.6
OB:BWO Share Price converted to USD reporting currency Exchange rate (NOK/ USD) 0.111 $7.31
Norway Energy Services Industry PE Ratio Median Figure of 14 Publicly-Listed Energy Services Companies 18.05x
Norway Market PE Ratio Median Figure of 149 Publicly-Listed Companies 13.35x

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

** Primary Listing of BW Offshore.

OB:BWO PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OB:BWO Share Price ÷ EPS (both in USD)

= 7.31 ÷ 0.42

17.39x

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

  • BW Offshore is good value based on earnings compared to the NO Energy Services industry average.
  • BW Offshore is overvalued based on earnings compared to the Norway market.
Price based on expected Growth
Does BW Offshore's expected growth come at a high price?
Raw Data
OB:BWO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.39x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
25.6%per year
Norway Energy Services Industry PEG Ratio Median Figure of 10 Publicly-Listed Energy Services Companies 0.68x
Norway Market PEG Ratio Median Figure of 110 Publicly-Listed Companies 0.77x

*Line of best fit is calculated by linear regression .

OB:BWO PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 17.39x ÷ 25.6%

0.68x

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

  • BW Offshore is good value based on expected growth next year.
Price based on value of assets
What value do investors place on BW Offshore's assets?
Raw Data
OB:BWO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $5.65
OB:BWO Share Price * OB (2019-09-19) in NOK NOK65.6
OB:BWO Share Price converted to USD reporting currency Exchange rate (NOK/ USD) 0.111 $7.31
Norway Energy Services Industry PB Ratio Median Figure of 35 Publicly-Listed Energy Services Companies 0.64x
Norway Market PB Ratio Median Figure of 239 Publicly-Listed Companies 1.12x
OB:BWO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OB:BWO Share Price ÷ Book Value per Share (both in USD)

= 7.31 ÷ 5.65

1.29x

* Primary Listing of BW Offshore.

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

  • BW Offshore is overvalued based on assets compared to the NO Energy Services industry average.
X
Value checks
We assess BW Offshore'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 Energy Services 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 Energy Services industry average (and greater than 0)? (1 check)
  5. BW Offshore has a total score of 4/6, see the detailed checks below.

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

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

Future Performance

 How is BW Offshore 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
25.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is BW Offshore expected to grow at an attractive rate?
  • BW Offshore's earnings growth is expected to exceed the low risk savings rate of 1.8%.
Growth vs Market Checks
  • BW Offshore's earnings growth is expected to exceed the Norway market average.
  • BW Offshore's revenues are expected to decrease over the next 1-3 years, this is below the Norway market average.
Annual Growth Rates Comparison
Raw Data
OB:BWO Future Growth Rates Data Sources
Data Point Source Value (per year)
OB:BWO Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 25.6%
OB:BWO Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts -3.3%
Norway Energy Services Industry Earnings Growth Rate Market Cap Weighted Average 39.4%
Norway Energy Services Industry Revenue Growth Rate Market Cap Weighted Average 11.4%
Norway Market Earnings Growth Rate Market Cap Weighted Average 14.8%
Norway Market Revenue Growth Rate Market Cap Weighted Average 4.4%

*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
OB:BWO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 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.
OB:BWO Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 1,014 524 189 5
2020-12-31 1,106 585 235 6
2019-12-31 1,103 551 113 4
2019-09-19
OB:BWO Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 1,060 444 78
2019-03-31 974 403 44
2018-12-31 870 436 34
2018-09-30 765 503 67
2018-06-30 696 500 58
2018-03-31 659 500 73
2017-12-31 626 660 40
2017-09-30 578 628 -120
2017-06-30 585 611 -135
2017-03-31 594 612 -145
2016-12-31 649 388 -133
2016-09-30 563 436 -253

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • BW Offshore's earnings are expected to grow significantly at over 20% yearly.
  • BW Offshore'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
OB:BWO Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from BW Offshore Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:BWO Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.90 1.37 0.42 5.00
2020-12-31 1.00 1.37 0.38 5.00
2019-12-31 0.59 0.64 0.56 3.00
2019-09-19
OB:BWO Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 0.42
2019-03-31 0.24
2018-12-31 0.18
2018-09-30 0.36
2018-06-30 0.31
2018-03-31 0.39
2017-12-31 0.22
2017-09-30 -1.33
2017-06-30 -0.77
2017-03-31 -1.09
2016-12-31 -1.47
2016-09-30 -1.78

*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.
  • BW Offshore is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess BW Offshore'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 Norway market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Norway 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.
BW Offshore 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.

Past Performance

  How has BW Offshore 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 BW Offshore's growth in the last year to its industry (Energy Services).
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.
  • BW Offshore's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • BW Offshore's 1-year earnings growth exceeds its 5-year average (33.5% vs -9.4%)
  • BW Offshore's earnings growth has exceeded the NO Energy Services industry average in the past year (33.5% vs 5%).
Earnings and Revenue History
BW Offshore'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 BW Offshore Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:BWO 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 1,060.10 77.70 33.40
2019-03-31 974.30 43.60 33.40
2018-12-31 870.40 33.50 33.40
2018-09-30 765.30 66.90 33.20
2018-06-30 695.70 58.20 33.20
2018-03-31 658.90 72.90 33.20
2017-12-31 626.00 39.80 33.20
2017-09-30 578.20 -120.10 14.80
2017-06-30 585.10 -135.30 14.80
2017-03-31 594.20 -145.10 14.80
2016-12-31 649.00 -132.90 14.80
2016-09-30 562.60 -252.90 34.80
2016-06-30 711.70 -249.00 34.80
2016-03-31 782.90 -225.00 34.80
2015-12-31 805.30 -216.30 34.80
2015-09-30 1,054.00 30.80 61.20
2015-06-30 993.80 78.30 61.20
2015-03-31 1,069.90 159.90 61.20
2014-12-31 1,070.40 187.20 61.20
2014-09-30 1,066.20 188.70 59.50
2014-06-30 1,049.90 166.10 59.50
2014-03-31 977.80 85.80 59.50
2013-12-31 956.20 81.40 59.50
2013-09-30 929.10 168.10 54.00
2013-06-30 932.80 93.00 54.00
2013-03-31 907.60 24.50 54.00
2012-12-31 909.40 1.30 54.00
2012-09-30 884.00 -250.60 51.10

*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.
  • BW Offshore has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • BW Offshore used its assets more efficiently than the NO Energy Services industry average last year based on Return on Assets.
  • BW Offshore 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 BW Offshore'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 Energy Services 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.
BW Offshore has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

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

Health

 How is BW Offshore'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 BW Offshore's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • BW Offshore is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • BW Offshore's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of BW Offshore'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 0.4x 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 BW Offshore Company Filings, last reported 2 months ago.

OB:BWO Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 1,373.40 1,311.30 265.20
2019-03-31 1,350.10 1,328.40 177.00
2018-12-31 1,320.90 1,373.70 142.10
2018-09-30 1,268.70 1,422.20 145.40
2018-06-30 1,261.90 1,363.10 145.00
2018-03-31 1,269.40 1,383.70 162.70
2017-12-31 1,259.40 1,420.80 145.50
2017-09-30 941.40 1,671.00 148.60
2017-06-30 934.60 1,555.60 149.00
2017-03-31 910.10 1,756.70 379.10
2016-12-31 919.90 1,741.80 106.90
2016-09-30 1,038.40 1,752.40 113.10
2016-06-30 950.40 1,802.30 141.80
2016-03-31 948.70 1,741.20 109.90
2015-12-31 944.40 1,741.50 121.80
2015-09-30 1,173.20 1,719.90 89.10
2015-06-30 1,189.50 1,769.50 192.10
2015-03-31 1,182.60 1,693.50 151.30
2014-12-31 1,198.10 1,805.10 206.00
2014-09-30 1,207.60 1,761.80 184.30
2014-06-30 1,213.90 1,770.30 196.20
2014-03-31 1,142.40 1,820.30 181.80
2013-12-31 1,124.10 1,791.90 131.00
2013-09-30 1,141.40 1,786.40 112.20
2013-06-30 1,143.00 1,820.60 123.80
2013-03-31 1,137.70 1,832.50 102.00
2012-12-31 1,130.40 1,783.70 99.90
2012-09-30 1,025.00 1,830.00 87.90
  • BW Offshore's level of debt (95.5%) 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 (145.8% vs 95.5% today).
  • Debt is well covered by operating cash flow (33.9%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.3x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess BW Offshore'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. BW Offshore has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

Dividends

 What is BW Offshore'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 BW Offshore dividends. Estimated to be 0% next year.
If you bought NOK2,000 of BW Offshore shares you are expected to receive NOK0 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 BW Offshore's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate BW Offshore'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
OB:BWO 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
Norway Energy Services Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 4.2%
Norway Market Average Dividend Yield Market Cap Weighted Average of 115 Stocks 4.4%
Norway Minimum Threshold Dividend Yield 10th Percentile 1.5%
Norway Bottom 25% Dividend Yield 25th Percentile 2.5%
Norway 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.

OB:BWO Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.00 5.00
2020-12-31 0.00 6.00
2019-12-31 0.00 6.00
2019-09-19
OB:BWO Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2017-08-29 0.000 0.000
2017-05-29 0.000 0.000
2017-02-28 0.000 0.000
2016-11-28 0.000 0.000
2016-08-29 0.000 0.000
2016-05-23 0.000 0.000
2016-04-01 0.000 0.000
2016-02-08 0.000 0.000
2015-11-23 0.000 0.000
2015-08-28 2.000 9.226
2015-05-26 4.000 13.382
2015-03-30 5.500 14.698
2015-02-16 5.500 14.542
2014-11-21 6.000 12.029
2014-08-29 6.000 9.933
2014-05-26 6.000 8.637
2014-03-31 5.500 8.532
2014-02-12 5.500 9.179
2013-03-27 3.000 4.918
2013-02-19 3.000 5.463
2012-11-26 2.000 4.410
2012-08-30 2.000 6.413
2012-05-10 4.000 7.776
2012-02-14 4.000 5.815
2011-11-18 8.000 10.736
2011-08-30 8.000 8.842
2011-05-24 8.000 7.540

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

  • Unable to perform a dividend volatility check as BW Offshore has not reported any payouts.
  • Unable to verify if BW Offshore's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of BW Offshore's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as BW Offshore has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of BW Offshore's dividends in 3 years as they are not expected to pay a notable one for Norway.
X
Income/ dividend checks
We assess BW Offshore's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.5%) - 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 BW Offshore afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. BW Offshore has a total score of 0/6, see the detailed checks below.


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

Management

 What is the CEO of BW Offshore'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
Marco Beenen
AGE 49
TENURE AS CEO 0.2 years
CEO Bio

Mr. Marco Beenen has been Chief Executive Officer of BW Offshore Limited since July 1, 2019 and served as its Chief Operating Officer since March 4, 2016 until July 1, 2019. Mr. Beenen joined BW Offshore in 2012. Mr. Beenen areas of responsibility include the global operations and development of BW Offshore’s fleet of FPSOs and FSOs. With over 20 years’ experience in the Oil and Gas industry, Mr. Beenen joined BW Offshore as Vice President Business Development followed by the position as Senior Vice President Fleet, responsible for the operations in West Africa Prior to joining BW Offshore Mr. Beenen has held executive positions in the Netherlands and USA as President of GustoMSC Inc and Vice President Engineering with SBM Offshore. He holds a Master Degree in Naval Architecture and Offshore Hydrodynamics of Delft University of Technology in the year 1989 to 1995.

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

Average tenure and age of the BW Offshore management team in years:

0.2
Average Tenure
49
Average Age
  • The average tenure for the BW Offshore management team is less than 2 years, this suggests a new team.
Management Team

Marco Beenen

TITLE
Chief Executive Officer
AGE
49
TENURE
0.2 yrs

Ståle Andreassen

TITLE
Chief Financial Officer
TENURE
0.2 yrs

Kei Ikeda

TITLE
Chief Operating Officer
AGE
48
TENURE
0.2 yrs

Magda Vakil

TITLE
General Counsel
AGE
51

Ketil Eik

TITLE
Senior Vice President Treasury

Rune Bjorbekk

TITLE
Chief Commercial Officer
AGE
49

Lin Espey

TITLE
Chief Exploration & Production Officer of BW Offshore
AGE
51
TENURE
0.8 yrs
Board of Directors Tenure

Average tenure and age of the BW Offshore board of directors in years:

5.5
Average Tenure
65
Average Age
  • The tenure for the BW Offshore board of directors is about average.
Board of Directors

Andreas Sohmen-Pao

TITLE
Chairman
AGE
48
TENURE
4.8 yrs

Christophe Pettenati-Auzière

TITLE
Vice Chairman
AGE
67

Maarten Scholten

TITLE
Non Executive Director
AGE
65
TENURE
9.3 yrs

Clare Mary Spottiswoode

TITLE
Director
AGE
66
TENURE
6.1 yrs

René Kofod-Olsen

TITLE
Director
AGE
46
TENURE
0.3 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 (NOK) Value (NOK)
X
Management checks
We assess BW Offshore'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. BW Offshore has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

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

News

Simply Wall St News

These 4 Measures Indicate That BW Offshore (OB:BWO) Is Using Debt Extensively

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously said that 'Volatility is far from synonymous with risk.' When we think about how risky a company is, we always like to look at its use of debt, since debt overload can lead to ruin. … OB:BWO Historical Debt, August 28th 2019 A Look At BW Offshore's Liabilities According to the last reported balance sheet, BW Offshore had liabilities of US$868.3m due within 12 months, and liabilities of US$1.19b due beyond 12 months. … If you're interested in investing in businesses that can grow profits without the burden of debt, then check out this free list of growing businesses that have net cash on the balance sheet.

Simply Wall St -

Should You Be Worried About BW Offshore Limited's (OB:BWO) 4.1% Return On Equity?

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for BW Offshore: 4.1% = US$44m ÷ US$1.4b (Based on the trailing twelve months to March 2019.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … In my book the highest quality companies have high return on equity, despite low debt. … If you would prefer check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.

Simply Wall St -

If You Had Bought BW Offshore (OB:BWO) Stock Three Years Ago, You Could Pocket A 298% Gain Today

For example, the BW Offshore Limited (OB:BWO) share price has soared 298% in the last three years. … During three years of share price growth, BW Offshore moved from a loss to profitability. … Dividends have been really beneficial for BW Offshore shareholders, and that cash payout contributed to why its TSR of 298%, over the last 3 years, is better than the share price return.

Simply Wall St -

What Does BW Offshore Limited’s (OB:BWO) 7.9% ROCE Say About The Business?

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for BW Offshore: 0.079 = US$200m ÷ (US$3.4b - US$868m) (Based on the trailing twelve months to March 2019.) So, BW Offshore has an ROCE of 7.9%. … Due to the way ROCE is calculated, a high level of current liabilities makes a company look as though it has less capital employed, and thus can (sometimes unfairly) boost the ROCE.

Simply Wall St -

Who Has Been Buying BW Offshore Limited (OB:BWO) Shares?

So we'll take a look at whether insiders have been buying or selling shares in BW Offshore Limited (OB:BWO). … OB:BWO Recent Insider Trading, June 18th 2019 BW Offshore is not the only stock insiders are buying. … With high insider ownership and encouraging transactions, it seems like BW Offshore insiders think the business has merit.

Simply Wall St -

What You Should Know About BW Offshore Limited's (OB:BWO) Financial Strength

At this stable level of debt, the current cash and short-term investment levels stands at US$177m , ready to be used for running the business. … On top of this, BWO has produced cash from operations of US$403m in the last twelve months, leading to an operating cash to total debt ratio of 30%, meaning that BWO’s operating cash is sufficient to cover its debt. … Looking at BWO’s US$868m in current liabilities, it seems that the business arguably has a rather low level of current assets relative its obligations, with the current ratio last standing at 0.58x.

Simply Wall St -

Don't Sell BW Offshore Limited (OB:BWO) Before You Read This

We'll look at BW Offshore Limited's (OB:BWO) P/E ratio and reflect on what it tells us about the company's share price. … The formula for P/E is: Price to Earnings Ratio = Share Price (in reporting currency) ÷ Earnings per Share (EPS) Or for BW Offshore: P/E of 29.17 = $5.28 (Note: this is the share price in the reporting currency, namely, USD ) ÷ $0.18 (Based on the year to December 2018.) Is A High P/E Ratio Good? … OB:BWO Price Estimation Relative to Market, May 10th 2019 Its relatively high P/E ratio indicates that BW Offshore shareholders think it will perform better than other companies in its industry classification.

Simply Wall St -

Read This Before Judging BW Offshore Limited's (OB:BWO) ROE

BW Offshore has a ROE of 2.8%, based on the last twelve months. … Another way to think of that is that for every NOK1 worth of equity in the company, it was able to earn NOK0.028. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

The BW Offshore (OB:BWO) Share Price Is Down 88% So Some Shareholders Are Rather Upset

It is doubtless a positive to see that the BW Offshore Limited (OB:BWO) share price has gained some 43% in the last three months. … In fact, the share price is down 88%, which falls well short of the return you could get by buying an index fund. … In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business.

Simply Wall St -

Have Insiders Been Buying BW Offshore Limited (OB:BWO) Shares?

We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. … So we'll take a look at whether insiders have been buying or selling shares in BW Offshore Limited (OB:BWO). … But logic dictates you should pay some attention to whether insiders are buying or selling shares.

Simply Wall St -

Company Info

Description

BW Offshore Limited builds, owns, and operates oil and gas floating production, storage, and offloading vessels (FPSOs); and floating, storage, and offloading vessels (FSOs) to the oil and gas industries in the Asia Pacific, the Americas, the European Union, and West Africa. It also offers engineering, procurement, construction, and installation services; and lease and operation services of FPSO units. As of March 8, 2016, the company had a fleet of 14 FPSOs and 1 FSO. It also operates additional two operations and maintenance contracts FPSOs and one new project FPSO. The company was founded in 1982 and is based in Hamilton, Bermuda.

Details
Name: BW Offshore Limited
BWO
Exchange: OB
Founded: 1982
NOK12,133,035,339
184,954,807
Website: http://www.bwoffshore.com
Address: BW Offshore Limited
Clarendon House,
2 Church Street,
Hamilton,
HM11,
Bermuda
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB BWO Ordinary Shares Oslo Bors NO NOK 02. May 2006
OTCPK BGSW.F Ordinary Shares Pink Sheets LLC US USD 02. May 2006
DB XY81 Ordinary Shares Deutsche Boerse AG DE EUR 02. May 2006
LSE 0RKH Ordinary Shares London Stock Exchange GB NOK 02. May 2006
BATS-CHIXE BWOO Ordinary Shares BATS 'Chi-X Europe' GB NOK 02. May 2006
Number of employees
Current staff
Staff numbers
2,138
BW Offshore employees.
Industry
Oil and Gas Equipment and Services
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/09/19 20:50
End of day share price update: 2019/09/19 00:00
Last estimates confirmation: 2019/09/16
Last earnings filing: 2019/08/30
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.