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Ocean Yield

OB:OCY
Snowflake Description

Moderate growth potential unattractive dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
OCY
OB
NOK8B
Market Cap
  1. Home
  2. NO
  3. Energy
Company description

Ocean Yield ASA, a ship owning company, invests in vessels on long-term charters within oil-service and industrial shipping areas in Norway. The last earnings update was 70 days ago. More info.


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OCY Share Price and Events
7 Day Returns
-5.5%
OB:OCY
-0.3%
NO Energy Services
1.6%
NO Market
1 Year Returns
-16.9%
OB:OCY
-32.6%
NO Energy Services
-8.3%
NO Market
OCY Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Ocean Yield (OCY) -5.5% 4.8% -6.7% -16.9% -19.4% 22.5%
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
  • OCY outperformed the Energy Services industry which returned -32.6% over the past year.
  • OCY underperformed the Market in Norway which returned -8.3% over the past year.
Price Volatility
OCY
Industry
5yr Volatility vs Market

OCY Value

 Is Ocean Yield 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 Ocean Yield 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 Ocean Yield.

OB:OCY Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Dividend Discount Model
Dividend Per Share Company Filings (2019-06-30) in USD $ 0.69662116666667
Payout Ratio Company Filings (2019-06-30) 10537%
Discount Rate (Cost of Equity) See below 10.7%
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:OCY
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%) (206.09%))
1.497
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.5
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.76% + (1.497 * 5.96%)
10.68%

Discounted Cash Flow Calculation for OB:OCY using Dividend Discount Model Model

The calculations below outline how an intrinsic value for Ocean Yield is arrived at by discounting future dividends to their present value. This approach is used for finance firms where free cash flow is difficult to estimate (e.g. Banks/ Insurance firms).

If the firm does not pay the majority of its earnings out as a dividend this method will often arrive at a value significantly lower than the share price.

See our documentation to learn about this calculation.

OB:OCY Gordon Growth Model
Calculation Result
Value per share = Expected dividends per share / (Discount Rate - Perpetual growth rate)
= $0.7 / (10.68% - 1.76%)
$54.9
OB:OCY Discount to Share Price
Calculation Result
Exchange Rate USD/NOK
(Reporting currency to currency of OB:OCY)
8.977
Value per Share
(NOK)
= Value per Share in USD x Exchange Rate (USD/NOK)
= $6.12 x 8.977
NOK54.9
Value per share (NOK) From above. NOK54.90
Current discount Discount to share price of NOK52.80
= -1 x (NOK52.80 - NOK54.90) / NOK54.90
3.8%

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

Current Discount
Amount off the current price Ocean Yield is available for.
Intrinsic value
4%
Share price is NOK52.8 vs Future cash flow value of NOK54.9
Current Discount Checks
For Ocean Yield to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Ocean Yield's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Ocean Yield's share price is below the future cash flow value, but not 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 Ocean Yield's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Ocean Yield's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OB:OCY PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $0.02
OB:OCY Share Price ** OB (2019-09-19) in NOK NOK52.8
OB:OCY Share Price converted to USD reporting currency Exchange rate (NOK/ USD) 0.111 $5.88
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 Ocean Yield.

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

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

= 5.88 ÷ 0.02

334.69x

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

  • Ocean Yield is overvalued based on earnings compared to the NO Energy Services industry average.
  • Ocean Yield is overvalued based on earnings compared to the Norway market.
Price based on expected Growth
Does Ocean Yield's expected growth come at a high price?
Raw Data
OB:OCY PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 334.69x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
32.2%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:OCY PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 334.69x ÷ 32.2%

10.4x

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

  • Ocean Yield is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Ocean Yield's assets?
Raw Data
OB:OCY PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $4.92
OB:OCY Share Price * OB (2019-09-19) in NOK NOK52.8
OB:OCY Share Price converted to USD reporting currency Exchange rate (NOK/ USD) 0.111 $5.88
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:OCY PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 5.88 ÷ 4.92

1.19x

* Primary Listing of Ocean Yield.

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

  • Ocean Yield is overvalued based on assets compared to the NO Energy Services industry average.
X
Value checks
We assess Ocean Yield'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. Ocean Yield has a total score of 0/6, 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.

OCY Future Performance

 How is Ocean Yield 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
32.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Ocean Yield expected to grow at an attractive rate?
  • Ocean Yield's earnings growth is expected to exceed the low risk savings rate of 1.8%.
Growth vs Market Checks
  • Ocean Yield's earnings growth is expected to exceed the Norway market average.
  • Ocean Yield's revenue growth is positive but not above the Norway market average.
Annual Growth Rates Comparison
Raw Data
OB:OCY Future Growth Rates Data Sources
Data Point Source Value (per year)
OB:OCY Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 32.2%
OB:OCY Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 4.2%
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:OCY 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:OCY Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 288 140 98 1
2021-12-31 284 139 112 6
2020-12-31 269 128 96 6
2019-12-31 251 99 64 6
2019-09-19
OB:OCY Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 284 123 3
2019-03-31 313 160 32
2018-12-31 343 192 57
2018-09-30 369 205 138
2018-06-30 363 198 129
2018-03-31 350 186 125
2017-12-31 339 170 128
2017-09-30 331 178 98
2017-06-30 319 210 99
2017-03-31 307 218 94
2016-12-31 294 195 76
2016-09-30 278 204 104

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Ocean Yield's earnings are expected to grow significantly at over 20% yearly.
  • Ocean Yield's revenue is expected to grow by 4.2% 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
OB:OCY 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 Ocean Yield Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:OCY Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 0.62 0.62 0.62 1.00
2021-12-31 0.70 1.13 0.20 6.00
2020-12-31 0.61 1.01 0.30 6.00
2019-12-31 0.39 0.63 0.22 6.00
2019-09-19
OB:OCY Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 0.02
2019-03-31 0.20
2018-12-31 0.36
2018-09-30 0.89
2018-06-30 0.85
2018-03-31 0.84
2017-12-31 0.86
2017-09-30 0.66
2017-06-30 0.68
2017-03-31 0.66
2016-12-31 0.55
2016-09-30 0.77

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

OCY Past Performance

  How has Ocean Yield 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 Ocean Yield'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.
  • Ocean Yield's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Ocean Yield's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Ocean Yield's 1-year earnings growth is negative, it can't be compared to the NO Energy Services industry average.
Earnings and Revenue History
Ocean Yield'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 Ocean Yield Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:OCY Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 284.00 2.80 0.80
2019-03-31 312.60 32.40 0.80
2018-12-31 343.40 57.00 0.40
2018-09-30 368.80 137.60 0.40
2018-06-30 362.60 129.00 0.40
2018-03-31 349.70 124.70 0.40
2017-12-31 339.10 128.20 0.40
2017-09-30 331.40 97.70 0.50
2017-06-30 318.80 98.70 0.50
2017-03-31 306.80 93.80 0.50
2016-12-31 294.30 76.10 0.50
2016-09-30 278.00 103.80 0.10
2016-06-30 267.20 94.70 0.10
2016-03-31 260.20 94.50 0.10
2015-12-31 256.70 104.00 0.10
2015-09-30 253.20 106.80
2015-06-30 253.30 108.50
2015-03-31 252.20 100.30
2014-12-31 249.30 100.70
2014-09-30 247.80 96.70
2014-06-30 244.20 91.30
2014-03-31 242.10 94.20
2013-12-31 239.00 82.70
2013-09-30 229.20 68.50
2013-06-30 213.40 61.50
2013-03-31 199.20 53.20
2012-12-31 188.00 27.70

*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.
  • Ocean Yield has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Ocean Yield used its assets less efficiently than the NO Energy Services industry average last year based on Return on Assets.
  • Ocean Yield's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Ocean Yield'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.
Ocean Yield 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.

OCY Health

 How is Ocean Yield'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 Ocean Yield's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Ocean Yield's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Ocean Yield's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Ocean Yield'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 0.1x 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 Ocean Yield Company Filings, last reported 2 months ago.

OB:OCY Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 797.00 1,928.40 86.90
2019-03-31 831.00 1,829.90 105.80
2018-12-31 845.70 1,762.90 110.00
2018-09-30 954.00 1,692.10 173.40
2018-06-30 946.20 1,591.30 266.00
2018-03-31 939.60 1,513.80 124.40
2017-12-31 831.50 1,510.40 98.70
2017-09-30 825.00 1,571.80 116.90
2017-06-30 823.80 1,614.00 126.80
2017-03-31 824.70 1,428.30 96.10
2016-12-31 815.20 1,553.80 165.50
2016-09-30 826.40 1,542.80 157.40
2016-06-30 709.10 1,454.10 110.80
2016-03-31 708.20 1,349.20 96.60
2015-12-31 708.80 1,158.90 117.70
2015-09-30 727.70 1,137.20 103.10
2015-06-30 730.70 1,042.30 94.60
2015-03-31 723.20 949.00 72.70
2014-12-31 718.70 994.50 76.40
2014-09-30 710.00 979.30 148.20
2014-06-30 707.10 929.10 102.80
2014-03-31 710.20 870.40 147.10
2013-12-31 703.70 871.80 132.90
2013-09-30 687.80 911.80 148.70
2013-06-30 522.00 964.10 60.10
2013-03-31 546.80 893.90 63.70
2012-12-31 533.00 858.40 104.60
  • Ocean Yield's level of debt (242%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (131.5% vs 242% today).
  • Debt is not well covered by operating cash flow (6.4%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.6x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Ocean Yield'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. Ocean Yield has a total score of 0/6, 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.

OCY Dividends

 What is Ocean Yield'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
12.99%
Current annual income from Ocean Yield dividends. Estimated to be 11.84% next year.
If you bought NOK2,000 of Ocean Yield shares you are expected to receive NOK260 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?
  • Ocean Yield's pays a higher dividend yield than the bottom 25% of dividend payers in Norway (2.54%).
  • Ocean Yield'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:OCY 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:OCY Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.60 1.00
2021-12-31 0.68 6.00
2020-12-31 0.68 6.00
2019-12-31 0.76 5.00
2019-09-19
OB:OCY Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-07-11 0.764 13.017
2019-05-07 0.764 11.294
2019-02-12 0.764 10.336
2018-11-01 0.764 10.593
2018-07-13 0.764 9.682
2018-07-12 0.764 8.927
2018-05-03 0.762 8.820
2018-02-15 0.758 8.704
2017-11-02 0.754 8.765
2017-07-18 0.750 8.561
2017-05-09 0.740 9.580
2017-02-16 0.730 9.887
2016-11-02 0.710 9.178
2016-07-12 0.690 8.560
2016-05-09 0.670 9.894
2016-03-18 0.650 9.975
2016-02-17 0.650 11.346
2015-11-02 0.630 8.650
2015-07-10 0.610 7.665
2015-05-05 0.590 8.080
2015-03-27 0.570 7.988
2015-02-25 0.570 9.290
2014-11-10 0.550 9.203
2014-07-11 0.520 7.925
2014-07-10 0.520 7.957
2014-05-08 0.500 7.675
2014-03-04 0.490 7.951
2013-11-12 0.480 8.452
2013-11-11 0.480 8.902

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

  • Whilst dividend payments have been stable, Ocean Yield has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Ocean Yield only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of Ocean Yield's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (1x coverage).
X
Income/ dividend checks
We assess Ocean Yield'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 Ocean Yield afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Ocean Yield 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.

OCY Management

 What is the CEO of Ocean Yield'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
Lars Solbakken
COMPENSATION $1,502,670
AGE 62
TENURE AS CEO 7.5 years
CEO Bio

Mr. Lars Solbakken has been the Chief Executive Officer at Ocean Yield AS since March 23, 2012. Mr. Solbakken served as the Chief Executive Officer at Eidsiva Rederi ASA (also known as Norwegian Car Carriers ASA) from September 2009 to February 29, 2012. He served as Chief Executive Officer of Ship Finance Management AS from May 1, 2006 to May 2009. From June 1997 to April 2006, Mr. Solbakken served as General Manager of Fortis Bank In Norway and was responsible for its Shipping And Oil Service Activities In Scandinavia. From 1987 To 1997, he Served in several positions in Nordea Bank Norge Asa (previously Christiania Bank). He served as Senior Vice President And Deputy For the Shipping, Offshore And Aviation Group, Head of Equity Issues And Merger & Acquisition Activities And General Manager For the Seattle Branch. Prior To Joining Nordea Bank Norge Asa, Mr. Solbakken served Five Years at Wilh. Wilhelmsen Asa as Finance Manager. He serves as Chairman of Aker Floating Production ASA. He served as a Director at American Shipping Company ASA from March 1, 2011 to March 2012. Mr. Solbakken has a Master of Science from the Norwegian School of Economics and Business Administration.

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

Average tenure and age of the Ocean Yield management team in years:

3.3
Average Tenure
40
Average Age
  • The tenure for the Ocean Yield management team is about average.
Management Team

Lars Solbakken

TITLE
Chief Executive Officer
COMPENSATION
$2M
AGE
62
TENURE
7.5 yrs

Eirik Eide

TITLE
Chief Financial Officer
COMPENSATION
$636K
AGE
49
TENURE
7.5 yrs

Andreas Reklev

TITLE
Senior Vice President of Investments
AGE
36
TENURE
3.1 yrs

Kristine Kosi

TITLE
Chief Accounting Officer
AGE
36

Marius Magelie

TITLE
Senior Vice President of Finance & Investor Relations
AGE
37
TENURE
3.4 yrs

Andreas Røde

TITLE
Head of Business Development and M&A
AGE
40
TENURE
2 yrs

Fredrik Bock-Hagen

TITLE
Managing Director Ocean Yield Malta Ltd
TENURE
1.7 yrs

Håvard Garseth

TITLE
Managing Director of Aker Floating Production AS
AGE
63
Board of Directors Tenure

Average tenure and age of the Ocean Yield board of directors in years:

6.2
Average Tenure
52.5
Average Age
  • The tenure for the Ocean Yield board of directors is about average.
Board of Directors

Frank Reite

TITLE
Chairman
AGE
49
TENURE
3.4 yrs

Kjell Røkke

TITLE
Director
AGE
61
TENURE
6.4 yrs

Jens Ismar

TITLE
Director
AGE
62
TENURE
6.2 yrs

Anne-Christin Døvigen

TITLE
Director
AGE
54
TENURE
6.2 yrs

Annicken Kildahl

TITLE
Director
AGE
51
TENURE
6.2 yrs

Per Reppe

TITLE
Deputy Director
AGE
34
TENURE
3.4 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Ocean Yield individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (NOK) Value (NOK)
27. Aug 19 Buy Andreas Røde Individual 26. Aug 19 26. Aug 19 15,000 NOK50.70 NOK760,500
27. Aug 19 Buy Eirik Eide Individual 26. Aug 19 26. Aug 19 15,000 NOK50.70 NOK760,500
27. Aug 19 Buy Marius Magelie Individual 26. Aug 19 26. Aug 19 5,000 NOK50.70 NOK253,500
27. Aug 19 Buy Lars Solbakken Individual 26. Aug 19 26. Aug 19 35,000 NOK50.70 NOK1,774,500
X
Management checks
We assess Ocean Yield'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. Ocean Yield 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.

OCY News

Simply Wall St News

Lars Solbakken Is The Chief Executive Officer of Ocean Yield ASA (OB:OCY) And They Just Spent US$1.8m On Shares

Check out our latest analysis for Ocean Yield Ocean Yield Insider Transactions Over The Last Year Notably, that recent purchase by Chief Executive Officer Lars Solbakken was not the only time they bought Ocean Yield shares this year. … While Ocean Yield insiders bought shares last year, they didn't sell. … Once you factor in the high insider ownership, it certainly seems like insiders are positive about Ocean Yield.

Simply Wall St -

Should You Take Comfort From Insider Transactions At Ocean Yield ASA (OB:OCY)?

So we'll take a look at whether insiders have been buying or selling shares in Ocean Yield ASA (OB:OCY). … See our latest analysis for Ocean Yield Ocean Yield Insider Transactions Over The Last Year Over the last year, we can see that the biggest insider purchase was by Chief Executive Officer Lars Solbakken for kr1.9m worth of shares, at about kr63.10 per share. … With high insider ownership and encouraging transactions, it seems like Ocean Yield insiders think the business has merit.

Simply Wall St -

Is Ocean Yield ASA (OB:OCY) Better Than Average At Deploying Capital?

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 Ocean Yield: 0.06 = US$145m ÷ (US$2.8b - US$390m) (Based on the trailing twelve months to June 2019.) Therefore, Ocean Yield has an ROCE of 6.0%. … Ocean Yield's Current Liabilities And Their Impact On Its ROCE Short term (or current) liabilities, are things like supplier invoices, overdrafts, or tax bills that need to be paid within 12 months. … 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 -

The Ocean Yield (OB:OCY) Share Price Has Gained 26% And Shareholders Are Hoping For More

It hasn't been the best quarter for Ocean Yield ASA (OB:OCY) shareholders, since the share price has fallen 20% in that time. … During five years of share price growth, Ocean Yield actually saw its EPS drop 52% per year. … As it happens, Ocean Yield's TSR for the last 5 years was 101%, which exceeds the share price return mentioned earlier.

Simply Wall St -

Our Take On Ocean Yield ASA's (OB:OCY) CEO Salary

Check out our latest analysis for Ocean Yield How Does Lars Solbakken's Compensation Compare With Similar Sized Companies? … Thus we can conclude that Lars Solbakken receives more in total compensation than the median of a group of companies in the same market, and of similar size to Ocean Yield ASA. … We examined the amount Ocean Yield ASA pays its CEO, and compared it to the amount paid by similar sized companies.

Simply Wall St -

Ocean Yield ASA (OB:OCY) Delivered A Weaker ROE Than Its Industry

See our latest analysis for Ocean Yield How Do You Calculate Return On Equity? … The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Ocean Yield: 4.0% = US$32m ÷ US$831m (Based on the trailing twelve months to March 2019.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … 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 -

Do Directors Own Ocean Yield ASA (OB:OCY) Shares?

Insider Ownership Of Ocean Yield The definition of an insider can differ slightly between different countries, but members of the board of directors always count. … Private Company Ownership We can see that Private Companies own 62%, of the shares on issue. … Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company.

Simply Wall St -

Are Investors Undervaluing Ocean Yield ASA (OB:OCY) By 35%?

Generally we assume that a dollar today is more valuable than a dollar in the future, so we discount the value of these future cash flows to their estimated value in today's dollars: 10-year free cash flow (FCF) estimate 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF ($, Millions) $-113.00 $181.00 $204.20 $222.51 $237.65 $250.22 $260.81 $269.91 $277.93 $285.18 Growth Rate Estimate Source Analyst x2 Analyst x4 Analyst x5 Est @ 8.97% Est @ 6.8% Est @ 5.29% Est @ 4.23% Est @ 3.49% Est @ 2.97% Est @ 2.61% Present Value ($, Millions) Discounted @ 12.88% $-100.10 $142.04 $141.95 $137.03 $129.64 $120.92 $111.65 $102.36 $93.37 $84.87 Present Value of 10-year Cash Flow (PVCF)= $963.74m "Est" = FCF growth rate estimated by Simply Wall St The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. … The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 10-year government bond rate of 1.8%. … OB:OCY Intrinsic value, May 20th 2019 The 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 -

Are Ocean Yield ASA’s (OB:OCY) Returns On Investment Worth Your While?

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … What is Return On Capital Employed (ROCE)? … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.

Simply Wall St -

Ocean Yield ASA (OB:OCY) Insiders Increased Their Holdings

So before you buy or sell Ocean Yield ASA (OB:OCY), you may well want to know whether insiders have been buying or selling. … The Last 12 Months Of Insider Transactions At Ocean Yield. … While Ocean Yield insiders bought shares last year, they didn't sell

Simply Wall St -

OCY Company Info

Description

Ocean Yield ASA, a ship owning company, invests in vessels on long-term charters within oil-service and industrial shipping areas in Norway. The company operates through FPSO, Other Oil Service, Car Carriers, Container Vessels, Tankers, and Other Shipping segments. As of June 28, 2019, it operated a fleet of 61 vessels. The company was founded in 2012 and is headquartered in Lysaker, Norway.

Details
Name: Ocean Yield ASA
OCY
Exchange: OB
Founded: 2012
NOK8,405,359,300
159,192,411
Website: http://www.oceanyield.no
Address: Ocean Yield ASA
Oksenøyveien 10,
Lysaker,
Akershus, 1366,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB OCY Ordinary Shares Oslo Bors NO NOK 05. Jul 2013
OTCPK OYIE.F Ordinary Shares Pink Sheets LLC US USD 05. Jul 2013
DB OY3 Ordinary Shares Deutsche Boerse AG DE EUR 05. Jul 2013
LSE 0QG5 Ordinary Shares London Stock Exchange GB NOK 05. Jul 2013
BATS-CHIXE OCYO Ordinary Shares BATS 'Chi-X Europe' GB NOK 05. Jul 2013
Number of employees
Current staff
Staff numbers
25
Ocean Yield 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 21:21
End of day share price update: 2019/09/19 00:00
Last estimates confirmation: 2019/09/17
Last earnings filing: 2019/07/11
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.