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North Energy

OB:NORTH
Snowflake Description

Flawless balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NORTH
OB
NOK167M
Market Cap
  1. Home
  2. NO
  3. Energy
Company description

North Energy ASA does not have significant operations. The last earnings update was 28 days ago. More info.


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NORTH Share Price and Events
7 Day Returns
9.6%
OB:NORTH
-0.3%
NO Energy Services
1.6%
NO Market
1 Year Returns
-31.5%
OB:NORTH
-32.6%
NO Energy Services
-8.3%
NO Market
NORTH Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
North Energy (NORTH) 9.6% -3.7% -6.3% -31.5% -37.8% -65.5%
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
  • NORTH outperformed the Energy Services industry which returned -32.6% over the past year.
  • NORTH underperformed the Market in Norway which returned -8.3% over the past year.
Price Volatility
NORTH
Industry
5yr Volatility vs Market

Value

 Is North Energy 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 North Energy 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 North Energy.

OB:NORTH Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 8.1%
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:NORTH
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- 23%) (2.78%))
1.071
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.07
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.76% + (1.071 * 5.96%)
8.14%

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

The calculations below outline how an intrinsic value for North Energy 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:NORTH DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (NOK, Millions) Source Present Value
Discounted (@ 8.14%)
2020 229.95 Est @ 8.5% 212.64
2021 244.85 Est @ 6.48% 209.36
2022 257.25 Est @ 5.06% 203.40
2023 267.73 Est @ 4.07% 195.74
2024 276.77 Est @ 3.38% 187.12
2025 284.78 Est @ 2.89% 178.03
2026 292.05 Est @ 2.55% 168.83
2027 298.81 Est @ 2.32% 159.73
2028 305.23 Est @ 2.15% 150.87
2029 311.44 Est @ 2.03% 142.35
Present value of next 10 years cash flows NOK1,808.00
OB:NORTH DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= NOK311.44 × (1 + 1.76%) ÷ (8.14% – 1.76%)
NOK4,964.38
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= NOK4,964.38 ÷ (1 + 8.14%)10
NOK2,269.06
OB:NORTH Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= NOK1,808.00 + NOK2,269.06
NOK4,077.06
Equity Value per Share
(NOK)
= Total value / Shares Outstanding
= NOK4,077.06 / 117.25
NOK34.77
OB:NORTH Discount to Share Price
Calculation Result
Value per share (NOK) From above. NOK34.77
Current discount Discount to share price of NOK1.43
= -1 x (NOK1.43 - NOK34.77) / NOK34.77
95.9%

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

Current Discount
Amount off the current price North Energy is available for.
Intrinsic value
>50%
Share price is NOK1.43 vs Future cash flow value of NOK34.77
Current Discount Checks
For North Energy to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • North Energy's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • North Energy'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 North Energy's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are North Energy's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OB:NORTH PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in NOK NOK-0.28
OB:NORTH Share Price ** OB (2019-09-19) in NOK NOK1.43
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 North Energy.

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

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

= 1.43 ÷ -0.28

-5.04x

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

  • North Energy is loss making, we can't compare its value to the NO Energy Services industry average.
  • North Energy is loss making, we can't compare the value of its earnings to the Norway market.
Price based on expected Growth
Does North Energy's expected growth come at a high price?
Raw Data
OB:NORTH PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -5.04x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
43.7%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 .

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

  • Unable to calculate PEG ratio for North Energy, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on North Energy's assets?
Raw Data
OB:NORTH PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in NOK NOK2.75
OB:NORTH Share Price * OB (2019-09-19) in NOK NOK1.43
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:NORTH PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 1.43 ÷ 2.75

0.52x

* Primary Listing of North Energy.

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

  • North Energy is good value based on assets compared to the NO Energy Services industry average.
X
Value checks
We assess North Energy'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. North Energy 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.

Future Performance

 How is North Energy expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover North Energy, future earnings growth has been estimated based on fundamentals.
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
43.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is North Energy expected to grow at an attractive rate?
  • North Energy's earnings growth is expected to exceed the low risk savings rate of 1.8%.
Growth vs Market Checks
  • North Energy's earnings growth is expected to exceed the Norway market average.
  • Unable to compare North Energy's revenue growth to the Norway market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
OB:NORTH Future Growth Rates Data Sources
Data Point Source Value (per year)
OB:NORTH Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 43.7%
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:NORTH Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in NOK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OB:NORTH Future Estimates Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
OB:NORTH Past Financials Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income *
2019-06-30 1 212 -33
2019-03-31 210 -11
2018-12-31 208 -29
2018-09-30 1 33 -22
2018-06-30 2 27 -8
2018-03-31 2 8 7
2017-12-31 2 2 22
2017-09-30 1 564 26
2017-06-30 556 8
2017-03-31 578 -17
2016-12-31 562 83
2016-09-30 236 61

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • North Energy's earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if North Energy is high growth as no revenue estimate data is available.
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:NORTH 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 0 Analyst Estimates (S&P Global) See Below

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

OB:NORTH Future Estimates Data
Date (Data in NOK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
OB:NORTH Past Financials Data
Date (Data in NOK Millions) EPS *
2019-06-30 -0.28
2019-03-31 -0.09
2018-12-31 -0.24
2018-09-30 -0.18
2018-06-30 -0.07
2018-03-31 0.06
2017-12-31 0.18
2017-09-30 0.22
2017-06-30 0.06
2017-03-31 -0.14
2016-12-31 0.70
2016-09-30 0.51

*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.
  • Unable to establish if North Energy will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess North Energy'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.
North Energy 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 North Energy 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 North Energy'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.
  • North Energy does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare North Energy's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare North Energy's 1-year growth to the NO Energy Services industry average as it is not currently profitable.
Earnings and Revenue History
North Energy'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 North Energy Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:NORTH Past Revenue, Cash Flow and Net Income Data
Date (Data in NOK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 0.88 -33.35 7.03
2019-03-31 -11.22 7.50
2018-12-31 -28.91 8.08
2018-09-30 0.96 -21.68 6.49
2018-06-30 2.10 -7.96 10.77
2018-03-31 2.10 7.00 19.20
2017-12-31 2.10 21.75 20.96
2017-09-30 1.14 25.59 28.85
2017-06-30 7.55 38.27
2017-03-31 -16.58 42.29
2016-12-31 83.16 61.40
2016-09-30 61.20 122.66
2016-06-30 43.06 165.87
2016-03-31 3.62 182.46
2015-12-31 -126.05 293.07
2015-09-30 -138.15 300.30
2015-06-30 -137.08 314.09
2015-03-31 -132.19 379.67
2014-12-31 -124.51 354.96
2014-09-30 -201.09 258.58
2014-06-30 -158.69 305.98
2014-03-31 -161.93 314.78
2013-12-31 -149.66 250.07
2013-09-30 -97.01 209.19
2013-06-30 -90.68 338.67
2013-03-31 -112.67 271.15
2012-12-31 -111.52 269.23
2012-09-30 -101.27 516.06

*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.
  • It is difficult to establish if North Energy has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if North Energy has efficiently used its assets last year compared to the NO Energy Services industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if North Energy improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess North Energy'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.
North Energy has a total score of 0/6, 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 North Energy'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 North Energy's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • North Energy is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • North Energy's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of North Energy'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.
  • Low level of unsold assets.
  • North Energy has no debt, it does not need to be covered by short term assets.
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 North Energy Company Filings, last reported 2 months ago.

OB:NORTH Past Debt and Equity Data
Date (Data in NOK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 307.58 0.00 209.95
2019-03-31 347.13 0.00 235.39
2018-12-31 385.00 0.00 255.77
2018-09-30 400.59 34.48 51.10
2018-06-30 412.97 34.20 59.68
2018-03-31 394.67 34.91 45.94
2017-12-31 419.99 34.63 65.31
2017-09-30 400.75 109.97 86.91
2017-06-30 402.78 77.91 36.04
2017-03-31 365.59 51.35 37.96
2016-12-31 406.87 24.66 126.54
2016-09-30 402.04 575.13 53.82
2016-06-30 418.06 549.65 61.71
2016-03-31 417.14 549.17 48.31
2015-12-31 314.92 294.34 34.83
2015-09-30 337.93 521.44 8.65
2015-06-30 370.48 330.44 27.56
2015-03-31 404.50 234.12 19.18
2014-12-31 440.08 86.12 25.74
2014-09-30 476.47 266.49 8.06
2014-06-30 479.88 239.19 53.37
2014-03-31 508.55 95.75 13.80
2013-12-31 260.57 205.69 15.02
2013-09-30 372.51 624.95 15.69
2013-06-30 361.93 485.30 21.18
2013-03-31 394.30 356.80 15.91
2012-12-31 409.93 215.55 28.50
2012-09-30 467.69 566.52 26.29
  • North Energy has no debt.
  • North Energy has no debt compared to 5 years ago when it was 49.9%.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making North Energy has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making North Energy has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 33.7% per year.
X
Financial health checks
We assess North Energy'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. North Energy has a total score of 6/6, 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 North Energy'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
21.05%
Current annual income from North Energy dividends.
If you bought NOK2,000 of North Energy shares you are expected to receive NOK421 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?
  • North Energy's pays a higher dividend yield than the bottom 25% of dividend payers in Norway (2.54%).
  • North Energy's dividend is above the markets top 25% of dividend payers in Norway (6.4%).
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:NORTH 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 0 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:NORTH Future Dividends Estimate Data
Date (Data in NOK) Dividend per Share (annual) Avg. No. Analysts
OB:NORTH Past Annualized Dividends Data
Date (Data in NOK) Dividend per share (annual) Avg. Yield (%)
2019-02-27 0.300 18.731

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

  • It is too early to tell whether North Energy has stable dividend payments.
  • North Energy only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of North Energy's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess North Energy'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 North Energy afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. North Energy 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.

Management

 What is the CEO of North Energy'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
Knut Sæberg
COMPENSATION NOK2,144,000
AGE 60
TENURE AS CEO 4.9 years
CEO Bio

Mr. Knut Sæberg has been the Chief Executive Officer of North Energy AS since October 2014. Mr. Sæberg served as the Acting Chief Executive Officer and Chief Financial Officer of North Energy AS until October 2014 and served as its Chief Financial Officer since March 2009. Mr. Sæberg joined North Energy from Optimera Gruppen where he served as the Chief Financial Officer since 2002 with main focus on restructuring, acquisition and divestments of businesses. Prior to this, he served as Chief Financial Officer in NMD ASA, where Mr. Sæberg played an important role in its adaption to the deregulation of the pharmaceutical market. From 1984 to 1995, he held different positions in Shell, working inter alia with the establishment of the finance organisation in the Troll project. He served as Worker Director of North Energy AS until October 2014. Mr. Sæberg has a Master of Business Administration from Kristiansand in 1984.

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

Knut Sæberg

TITLE
Chief Executive Officer
COMPENSATION
NOK2M
AGE
60
TENURE
4.9 yrs

Rune Damm

TITLE
Finance Manager
Board of Directors Tenure

Average tenure and age of the North Energy board of directors in years:

5.4
Average Tenure
58
Average Age
  • The tenure for the North Energy board of directors is about average.
Board of Directors

Anders Onarheim

TITLE
Chairman of the Board
COMPENSATION
NOK225K
AGE
60
TENURE
4.8 yrs

Jogeir Romestrand

TITLE
Director
COMPENSATION
NOK225K
AGE
58
TENURE
5.6 yrs

Elin Karfjell

TITLE
Director
COMPENSATION
NOK225K
AGE
54
TENURE
5.4 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)
03. Jun 19 Buy Anders Onarheim Individual 03. Jun 19 03. Jun 19 202,309 NOK1.42 NOK288,290
X
Management checks
We assess North Energy'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. North Energy 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

If You Had Bought North Energy (OB:NORTH) Stock Five Years Ago, You'd Be Sitting On A 67% Loss, Today

Zooming in on an example, the North Energy ASA (OB:NORTH) share price dropped 67% in the last half decade. … Shareholders have had an even rougher run lately, with the share price down 26% in the last 90 days. … We'd venture that shareholders are concerned about the need for more capital, because the share price has dropped 20% per year, over 5 years.

Simply Wall St -

What Type Of Shareholder Owns North Energy ASA's (OB:NORTH)?

The big shareholder groups in North Energy ASA (OB:NORTH) have power over the company. … Taking a look at our data on the ownership groups (below), it's seems that institutions are noticeable on the share registry. … Insider Ownership Of North Energy The definition of an insider can differ slightly between different countries, but members of the board of directors always count.

Simply Wall St -

Could The North Energy ASA (OB:NORTH) Ownership Structure Tell Us Something Useful?

See our latest analysis for North Energy OB:NORTH Ownership Summary, June 27th 2019 What Does The Institutional Ownership Tell Us About North Energy? … We can see that North Energy does have institutional investors; and they hold 10% of the stock. … Private Company Ownership It seems that Private Companies own 21%, of the NORTH stock.

Simply Wall St -

A Look At The Intrinsic Value Of North Energy ASA (OB:NORTH)

Today we will run through one way of estimating the intrinsic value of North Energy ASA (OB:NORTH) by projecting its future cash flows and then discounting them to today's 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 (NOK, Millions) NOK8.75 NOK9.33 NOK9.81 NOK10.22 NOK10.57 NOK10.88 NOK11.16 NOK11.42 NOK11.67 NOK11.91 Growth Rate Estimate Source Est @ 8.75% Est @ 6.65% Est @ 5.18% Est @ 4.16% Est @ 3.44% Est @ 2.93% Est @ 2.58% Est @ 2.34% Est @ 2.16% Est @ 2.04% Present Value (NOK, Millions) Discounted @ 7.78% NOK8.11 NOK8.03 NOK7.84 NOK7.57 NOK7.27 NOK6.94 NOK6.61 NOK6.27 NOK5.94 NOK5.63 Present Value of 10-year Cash Flow (PVCF)= NOK70.21m "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. … OB:NORTH Intrinsic value, June 6th 2019 Important assumptions Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows.

Simply Wall St -

Have Insiders Been Buying North Energy ASA (OB:NORTH) Shares?

So shareholders might well want to know whether insiders have been buying or selling shares in North Energy ASA (OB:NORTH). … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … North Energy Insider Transactions Over The Last Year

Simply Wall St -

If You Had Bought North Energy (OB:NORTH) Stock Three Years Ago, You Could Pocket A 79% Gain Today

For example, the North Energy ASA (OB:NORTH) share price is up 79% in the last three years, clearly besting than the market return of around 35% (not including dividends). … North Energy recorded just øre961,000 in revenue over the last twelve months, which isn't really enough for us to consider it to have a proven product. … For example, they may be hoping that North Energy finds fossil fuels with an exploration program, before it runs out of money.

Simply Wall St -

Should You Be Pleased About The CEO Pay At North Energy ASA's (OB:NORTH)

Knut Sæberg has been the CEO of North Energy ASA (OB:NORTH) since 2014. … This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Knut Sæberg's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Did North Energy ASA (OB:NORTH) Insiders Buy Up More Shares?

We often see insiders buying up shares in companies that perform well over the long term. … So we'll take a look at whether insiders have been buying or selling shares in North Energy ASA (OB:NORTH). … North Energy Insider Transactions Over The Last Year

Simply Wall St -

Why North Energy ASA's (OB:NORTH) ROE Of 3.20% Does Not Tell The Whole Story

and want to better understand how you can grow your money by investing in North Energy ASA (OB:NORTH). … North Energy ASA (OB:NORTH) delivered a less impressive 3.20% ROE over the past year, compared to the 8.53% return generated by its industry. … An investor may attribute an inferior ROE to a relatively inefficient performance, and whilst this can often be the case, knowing the nuts and bolts of the ROE calculation may change that perspective and give you a deeper insight into NORTH's past performance

Simply Wall St -

Why North Energy ASA's (OB:NORTH) Investor Composition Impacts Your Returns

In this article, I will take a quick look at North Energy ASA’s (OB:NORTH) recent ownership structure – an unconventional investing subject, but an important one. … OB:NORTH Insider_trading May 9th 18 General Public Ownership The general public, with 6.46% stake, is also an important group of shareholders in NORTH. … As a result, potential investors should further explore the company's business relations with these companies and find out if they can affect shareholder returns in the long-term.Next Steps: The company's high institutional ownership makes margin of safety a very important consideration to existing investors since long bull and bear trends often emerge when these big-ticket investors see a change in long-term potential of the company.

Simply Wall St -

Company Info

Description

North Energy ASA does not have significant operations. Previously, it was engaged in the exploration, development, and production of oil and gas in the Norwegian continental shelf. The company was founded in 2007 and is headquartered in Oslo, Norway.

Details
Name: North Energy ASA
NORTH
Exchange: OB
Founded: 2007
NOK167,083,520
117,251,593
Website: http://www.northenergy.no
Address: North Energy ASA
Tjuvholmen allé 3,
Oslo,
Oslo, 0252,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB NORTH Ordinary Shares Oslo Bors NO NOK 05. Feb 2010
Number of employees
Current staff
Staff numbers
3
North Energy 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 21:08
End of day share price update: 2019/09/19 00:00
Last estimates confirmation: 2018/02/15
Last earnings filing: 2019/08/22
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.