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PGS

OB:PGS
Snowflake Description

Reasonable growth potential and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PGS
OB
NOK5B
Market Cap
  1. Home
  2. NO
  3. Energy
Company description

PGS ASA operates as a marine geophysical company. The last earnings update was 63 days ago. More info.


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  • PGS has significant price volatility in the past 3 months.
PGS Share Price and Events
7 Day Returns
7.4%
OB:PGS
-0.3%
NO Energy Services
1.6%
NO Market
1 Year Returns
-56.7%
OB:PGS
-32.6%
NO Energy Services
-8.3%
NO Market
PGS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
PGS (PGS) 7.4% 18.3% 3.4% -56.7% -20.2% -64.3%
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
  • PGS underperformed the Energy Services industry which returned -32.6% over the past year.
  • PGS underperformed the Market in Norway which returned -8.3% over the past year.
Price Volatility
PGS
Industry
5yr Volatility vs Market

PGS Value

 Is PGS 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 PGS 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 PGS.

OB:PGS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 13 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 13.7%
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:PGS
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%) (253.41%))
2.471
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.76% + (2 * 5.96%)
13.68%

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

The calculations below outline how an intrinsic value for PGS 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:PGS DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 13.68%)
2020 307.96 Analyst x5 270.90
2021 297.77 Analyst x5 230.41
2022 292.88 Est @ -1.64% 199.36
2023 291.07 Est @ -0.62% 174.28
2024 291.34 Est @ 0.09% 153.45
2025 293.07 Est @ 0.59% 135.79
2026 295.84 Est @ 0.94% 120.58
2027 299.35 Est @ 1.19% 107.33
2028 303.42 Est @ 1.36% 95.70
2029 307.91 Est @ 1.48% 85.43
Present value of next 10 years cash flows $1,573.00
OB:PGS DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $307.91 × (1 + 1.76%) ÷ (13.68% – 1.76%)
$2,628.63
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $2,628.63 ÷ (1 + 13.68%)10
$729.27
OB:PGS Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,573.00 + $729.27
$2,302.27
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,302.27 / 338.58
$6.8
OB:PGS Discount to Share Price
Calculation Result
Exchange Rate USD/NOK
(Reporting currency to currency of OB:PGS)
8.977
Value per Share
(NOK)
= Value per Share in USD x Exchange Rate (USD/NOK)
= $6.8 x 8.977
NOK61.04
Value per share (NOK) From above. NOK61.04
Current discount Discount to share price of NOK13.85
= -1 x (NOK13.85 - NOK61.04) / NOK61.04
77.3%

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

Current Discount
Amount off the current price PGS is available for.
Intrinsic value
>50%
Share price is NOK13.85 vs Future cash flow value of NOK61.04
Current Discount Checks
For PGS to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • PGS's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • PGS'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 PGS's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are PGS's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OB:PGS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $-0.51
OB:PGS Share Price ** OB (2019-09-19) in NOK NOK13.85
OB:PGS Share Price converted to USD reporting currency Exchange rate (NOK/ USD) 0.111 $1.54
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 PGS.

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

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

= 1.54 ÷ -0.51

-3.02x

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

  • PGS is loss making, we can't compare its value to the NO Energy Services industry average.
  • PGS is loss making, we can't compare the value of its earnings to the Norway market.
Price based on expected Growth
Does PGS's expected growth come at a high price?
Raw Data
OB:PGS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -3.02x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts
94%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 PGS, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on PGS's assets?
Raw Data
OB:PGS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $1.76
OB:PGS Share Price * OB (2019-09-19) in NOK NOK13.85
OB:PGS Share Price converted to USD reporting currency Exchange rate (NOK/ USD) 0.111 $1.54
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:PGS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 1.54 ÷ 1.76

0.87x

* Primary Listing of PGS.

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

  • PGS is overvalued based on assets compared to the NO Energy Services industry average.
X
Value checks
We assess PGS'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. PGS has a total score of 2/6, 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.

PGS Future Performance

 How is PGS expected to perform in the next 1 to 3 years based on estimates from 13 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
94%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is PGS expected to grow at an attractive rate?
  • PGS's earnings growth is expected to exceed the low risk savings rate of 1.8%.
Growth vs Market Checks
  • PGS's earnings growth is expected to exceed the Norway market average.
  • PGS's revenue growth is expected to exceed the Norway market average.
Annual Growth Rates Comparison
Raw Data
OB:PGS Future Growth Rates Data Sources
Data Point Source Value (per year)
OB:PGS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts 94%
OB:PGS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts 10.3%
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:PGS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OB:PGS Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 1,086 1
2021-12-31 1,069 648 134 13
2020-12-31 997 613 90 13
2019-12-31 868 508 -88 13
2019-09-19
OB:PGS Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 755 478 -173
2019-03-31 802 492 -113
2018-12-31 874 446 -88
2018-09-30 840 412 -259
2018-06-30 885 398 -414
2018-03-31 885 325 -457
2017-12-31 839 282 -523
2017-09-30 757 263 -485
2017-06-30 774 225 -324
2017-03-31 716 218 -343
2016-12-31 764 321 -294
2016-09-30 840 377 -472

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • PGS's earnings are expected to grow significantly at over 20% yearly.
  • PGS's revenue is expected to grow by 10.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OB:PGS 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 13 Analyst Estimates (S&P Global) See Below

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

OB:PGS Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 0.35 0.61 0.13 10.00
2020-12-31 0.27 0.39 0.11 8.00
2019-12-31 -0.27 -0.17 -0.45 8.00
2019-09-19
OB:PGS Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 -0.51
2019-03-31 -0.33
2018-12-31 -0.26
2018-09-30 -0.77
2018-06-30 -1.22
2018-03-31 -1.35
2017-12-31 -1.55
2017-09-30 -1.53
2017-06-30 -1.11
2017-03-31 -1.29
2016-12-31 -1.21
2016-09-30 -2.01

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • PGS is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess PGS'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.
PGS has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

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

PGS Past Performance

  How has PGS 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 PGS'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.
  • PGS does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare PGS's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare PGS's 1-year growth to the NO Energy Services industry average as it is not currently profitable.
Earnings and Revenue History
PGS'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 PGS Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:PGS Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 755.00 -172.80 48.50 9.10
2019-03-31 802.30 -113.00 46.50 10.40
2018-12-31 874.30 -87.90 51.80 10.80
2018-09-30 840.30 -259.40 47.20 13.40
2018-06-30 884.50 -413.90 43.70 15.60
2018-03-31 885.30 -456.90 43.90 16.90
2017-12-31 838.80 -523.40 36.00 17.60
2017-09-30 757.00 -484.80 37.00 17.50
2017-06-30 773.50 -323.90 35.10 17.00
2017-03-31 716.00 -343.30 34.90 17.20
2016-12-31 764.30 -293.90 38.40 19.50
2016-09-30 839.50 -472.30 41.50 19.20
2016-06-30 841.10 -553.30 44.20 19.70
2016-03-31 913.90 -565.50 45.60 20.20
2015-12-31 961.90 -527.90 44.10 20.30
2015-09-30 1,162.80 -286.90 47.30 22.30
2015-06-30 1,331.20 -168.50 51.40 29.70
2015-03-31 1,412.40 -75.00 54.30 34.70
2014-12-31 1,453.80 -50.90 59.90 37.60
2014-09-30 1,383.10 72.80 61.20 41.40
2014-06-30 1,354.60 138.60 62.50 39.60
2014-03-31 1,399.30 180.40 63.70 39.10
2013-12-31 1,501.60 238.30 63.10 38.70
2013-09-30 1,502.20 248.30 62.30 39.80
2013-06-30 1,524.90 261.00 62.80 41.70
2013-03-31 1,548.10 235.40 61.40 39.20
2012-12-31 1,518.30 185.50 61.40 38.30
2012-09-30 1,502.82 150.35 54.96 28.45

*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 PGS has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if PGS 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 PGS 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 PGS'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.
PGS 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.

PGS Health

 How is PGS'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 PGS's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • PGS's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • PGS's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of PGS's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from PGS Company Filings, last reported 2 months ago.

OB:PGS Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 596.80 1,102.70 33.20
2019-03-31 643.50 1,174.20 90.40
2018-12-31 721.80 1,219.10 74.50
2018-09-30 749.70 1,226.10 44.40
2018-06-30 785.70 1,200.00 24.40
2018-03-31 767.20 1,216.60 38.40
2017-12-31 879.50 1,213.40 47.30
2017-09-30 1,077.10 1,235.10 24.20
2017-06-30 1,250.90 1,272.00 53.30
2017-03-31 1,285.10 1,223.30 38.80
2016-12-31 1,359.40 1,170.80 61.70
2016-09-30 1,285.70 1,363.80 77.30
2016-06-30 1,350.30 1,328.30 49.70
2016-03-31 1,403.00 1,305.50 116.60
2015-12-31 1,463.70 1,124.70 81.60
2015-09-30 1,693.00 1,196.80 82.30
2015-06-30 1,799.90 1,124.40 57.60
2015-03-31 1,881.00 1,169.60 148.90
2014-12-31 1,901.60 1,184.90 54.70
2014-09-30 2,018.30 1,210.40 90.40
2014-06-30 2,012.30 1,225.20 42.90
2014-03-31 2,069.30 1,070.80 208.60
2013-12-31 2,065.60 1,034.50 263.80
2013-09-30 2,041.50 1,029.80 299.00
2013-06-30 1,962.70 1,038.60 329.70
2013-03-31 1,964.90 917.00 311.60
2012-12-31 1,911.50 934.80 393.30
2012-09-30 1,877.78 755.19 293.73
  • PGS's level of debt (184.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (57.8% vs 184.8% today).
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 PGS has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making PGS has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -101.7% per year.
X
Financial health checks
We assess PGS'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. PGS has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

PGS Dividends

 What is PGS'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 PGS dividends. Estimated to be 0.87% next year.
If you bought NOK2,000 of PGS 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 PGS's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate PGS'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:PGS 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 13 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:PGS Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31 0.03 10.00
2020-12-31 0.01 10.00
2019-12-31 0.00 9.00
2019-09-19
OB:PGS Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2016-10-27 0.000 0.000
2016-07-21 0.000 0.000
2016-05-03 0.000 0.000
2016-04-11 0.000 0.000
2016-02-15 0.000 0.000
2015-05-13 0.078 1.982
2014-04-10 0.276 4.945
2014-02-13 0.376 3.441
2013-04-15 0.262 2.170
2013-02-14 0.282 1.788
2012-04-04 0.179 1.267
2012-02-20 0.189 1.309
2011-04-13 0.181 1.593
2011-02-17 0.192 1.226

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

  • Unable to perform a dividend volatility check as PGS has not reported any payouts.
  • Unable to verify if PGS's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of PGS's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as PGS has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of PGS's dividends in 3 years as they are not expected to pay a notable one for Norway.
X
Income/ dividend checks
We assess PGS'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 PGS afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. PGS 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.

PGS Management

 What is the CEO of PGS'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
Rune Pedersen
COMPENSATION $828,141
AGE 49
TENURE AS CEO 2 years
CEO Bio

Mr. Rune Olav Pedersen has been President and Chief Executive Officer of Petroleum Geo-Services ASA since September 1, 2017. Mr. Pedersen served as an Executive Vice President at Petroleum Geo-Services ASA until September 1, 2017 and served as its General Counsel since October 2010 until September 1, 2017. He has been a Director of OKEA AS since April 05, 2019. Mr. Pedersen served as its Senior Vice President of Communications & Marketing. Mr. Pedersen earned his Law Degree from the University of Oslo and enhanced his expertise within European competition law with a post graduate diploma from Kings College London. Mr. Pedersen earned an Executive MBA from London Business School in 2014.

CEO Compensation
  • Rune's compensation has increased whilst company is loss making.
  • Rune's remuneration is higher than average for companies of similar size in Norway.
Management Team Tenure

Average tenure and age of the PGS management team in years:

2
Average Tenure
55.5
Average Age
  • The tenure for the PGS management team is about average.
Management Team

Rune Pedersen

TITLE
President & CEO
COMPENSATION
$828K
AGE
49
TENURE
2 yrs

Gottfred Langseth

TITLE
CFO & Executive VP
COMPENSATION
$746K
AGE
53
TENURE
15.7 yrs

Per Reksnes

TITLE
Executive Vice President of Operations & Technology
COMPENSATION
$671K
AGE
62

David Dakin

TITLE
Chief Accounting Officer

Bård Stenberg

TITLE
Senior VP of IR & Communication

Nathan Oliver

TITLE
Executive Vice President of Sales & Imaging
TENURE
0.7 yrs

Terje Bjølseth

TITLE
Senior Vice President of Global Human Resources

Magne Reiersgard

TITLE
Executive Vice President of Marine Contract
COMPENSATION
$652K
AGE
58
TENURE
4.8 yrs

Joanna Oustad

TITLE
Senior Vice President of Health

Berit Osnes

TITLE
Executive Vice President of New Ventures
TENURE
0.7 yrs
Board of Directors Tenure

Average tenure and age of the PGS board of directors in years:

2
Average Tenure
60
Average Age
  • The average tenure for the PGS board of directors is less than 3 years, this suggests a new board.
Board of Directors

Walter Qvam

TITLE
Chairperson
AGE
66
TENURE
3.3 yrs

Anne Dalane

TITLE
Vice Chairperson
AGE
59
TENURE
1.7 yrs

Anette Valbø

TITLE
Director
TENURE
4.7 yrs

Richard Herbert

TITLE
Director
TENURE
2.3 yrs

Marianne Kah

TITLE
Director
AGE
66
TENURE
1.4 yrs

Hege Renshus

TITLE
Director
AGE
51
TENURE
2.7 yrs

Trond Brandsrud

TITLE
Director
AGE
61
TENURE
0.4 yrs

Grunde Rønholt

TITLE
Director
AGE
47
TENURE
0.7 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by PGS individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (NOK) Value (NOK)
15. Aug 19 Buy Caius Capital LLP Company 15. Aug 19 15. Aug 19 1,951,815 NOK10.84 NOK21,152,014
18. Jul 19 Buy Per Reksnes Individual 18. Jul 19 18. Jul 19 20,000 NOK11.59 NOK231,800
20. Jun 19 Buy Lars Mysen Individual 20. Jun 19 20. Jun 19 10,000 NOK12.77 NOK127,700
20. Jun 19 Buy Gottfred Langseth Individual 20. Jun 19 20. Jun 19 35,000 NOK12.60 NOK441,000
20. Jun 19 Buy Trond Brandsrud Individual 20. Jun 19 20. Jun 19 35,000 NOK12.70 NOK444,500
20. Jun 19 Buy Walter Qvam Individual 20. Jun 19 20. Jun 19 10,000 NOK13.10 NOK131,000
20. Jun 19 Buy Rune Pedersen Individual 20. Jun 19 20. Jun 19 33,000 NOK13.10 NOK432,300
31. Jan 19 Buy Anne Dalane Individual 31. Jan 19 31. Jan 19 8,000 NOK18.97 NOK151,760
07. Jan 19 Buy Kai Reith Individual 07. Jan 19 07. Jan 19 35,000 NOK16.25 NOK568,750
X
Management checks
We assess PGS'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. PGS 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.

PGS News

Simply Wall St News

PGS ASA's (OB:PGS) Shift From Loss To Profit

In this article, I will touch on the expectations for PGS’s growth and when analysts expect the company to become profitable. … Working backwards from analyst estimates, it turns out that they expect the company to grow 92% year-on-year, on average, which signals high confidence from analysts. … Next Steps: This article is not intended to be a comprehensive analysis on PGS, so if you are interested in understanding the company at a deeper level, take a look at PGS’s company page on Simply Wall St.

Simply Wall St -

What Type Of Shareholder Owns PGS ASA's (OB:PGS)?

Our analysis of the ownership of the company, below, shows that institutional investors have bought into the company. … Check out our latest analysis for PGS OB:PGS Ownership Summary, July 2nd 2019 What Does The Institutional Ownership Tell Us About PGS? … Insider Ownership Of PGS The definition of company insiders can be subjective, and does vary between jurisdictions.

Simply Wall St -

Are Insiders Buying PGS ASA (OB:PGS) Stock?

As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.' View our latest analysis for PGS The Last 12 Months Of Insider Transactions At PGS In the last twelve months, the biggest single purchase by an insider was when Kai Reith bought øre569k worth of shares at a price of øre16.25 per share. … Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price. … Over the last year, we can see that insiders have bought 43000 shares worth øre721k.

Simply Wall St -

Should You Be Worried When Petroleum Geo-Services ASA’s (OB:PGS) Insiders Sell?

some insider selling over the past three months, with insiders divesting from. … Generally, insiders selling shares in their own firm sends a bearish signal. … The MIT Press (1998) published an article showing that stocks following insider selling underperformed the market by 2.7%

Simply Wall St -

Who Owns Most Of Petroleum Geo-Services ASA (OB:PGS)?

In this article, I'm going to take a look at Petroleum Geo-Services ASA’s (OB:PGS) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … See our latest analysis for Petroleum Geo-Services … OB:PGS Ownership Summary July 18th 18

Simply Wall St -

Loss-Making Petroleum Geo-Services ASA (OB:PGS) Expected To Breakeven

Petroleum Geo-Services ASA's (OB:PGS):. … Petroleum Geo-Services ASA, a marine geophysical company, provides a range of seismic and reservoir services worldwide. … With the latest financial year loss of -øre523.40m and a trailing-twelve month of -øre456.90m, the øre12.48b market-cap alleviates its loss by moving closer towards its target of breakeven.

Simply Wall St -

Want To Invest In Petroleum Geo-Services ASA (OB:PGS)? Here's How It Performed Lately

Today I will examine Petroleum Geo-Services ASA's (OB:PGS) latest earnings update (31 March 2018) and compare these figures against its performance over the past couple of years, in addition to how the rest of PGS's industry performed. … OB:PGS Income Statement May 7th 18 We can further assess Petroleum Geo-Services's loss by looking at what the industry has been experiencing over the past few years. … I recommend you continue to research Petroleum Geo-Services to get a better picture of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for PGS’s future growth?

Simply Wall St -

At NOK29.55, Is It Time To Buy Petroleum Geo-Services ASA (OB:PGS)?

Great news for investors – Petroleum Geo-Services is still trading at a fairly cheap price. … Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price. … If you are no longer interested in Petroleum Geo-Services, you can use our free platform to see my list of over 50 other stocks with a high growth potential.

Simply Wall St -

How Financially Strong Is Petroleum Geo-Services ASA (OB:PGS)?

At this current level of debt, PGS's cash and short-term investments stands at US$47.30M , ready to deploy into the business. … On top of this, PGS has produced US$281.80M in operating cash flow over the same time period, leading to an operating cash to total debt ratio of 23.22%, indicating that PGS’s current level of operating cash is high enough to cover debt. … Maintaining a high level of debt, while revenues are still below costs, can be dangerous as liquidity tends to dry up in unexpected downturns.Next Steps: PGS’s debt and cash flow levels indicate room for improvement.

Simply Wall St -

Petroleum Geo-Services ASA's (OB:PGS) Sustainability In Question?

Whether a company has a good future, in terms of its business operation and financial health, is an important question to address. … OB:PGS Future Profit Mar 30th 18 Investors tend to get swept up by a company's growth prospects and promises, but a key element to always look at is its financial health in order to minimize the downside risk of investing. … A big red-siren warning for PGS is its high level of debt, which has been increasing over the past five years, exceeding its total level of equity.

Simply Wall St -

PGS Company Info

Description

PGS ASA operates as a marine geophysical company. It offers a range of seismic and reservoir services, including acquisition, imaging, interpretation, and field evaluation to oil and gas companies. The company also offers seismic images and 3D data. It operates in Africa, the Asia Pacific, Europe, and North and South America. The company was formerly known as Petroleum Geo-Services ASA and changed its name to PGS ASA in May 2019. PGS ASA was founded in 1991 and is headquartered in Oslo, Norway.

Details
Name: PGS ASA
PGS
Exchange: OB
Founded: 1991
NOK4,687,615,968
338,578,257
Website: http://www.pgs.com
Address: PGS ASA
Lilleakerveien 4C,
Oslo,
Oslo, 0283,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB PGS Common Stock Oslo Bors NO NOK 06. Nov 2003
OTCPK PGEJ.F Common Stock Pink Sheets LLC US USD 06. Nov 2003
DB PGS1 Common Stock Deutsche Boerse AG DE EUR 06. Nov 2003
LSE 0MHR Common Stock London Stock Exchange GB NOK 06. Nov 2003
BATS-CHIXE PGSO Common Stock BATS 'Chi-X Europe' GB NOK 06. Nov 2003
OTCPK PGSV.Y SPONSORED ADS Pink Sheets LLC US USD 29. Oct 2003
Number of employees
Current staff
Staff numbers
1,258
PGS 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 20:52
End of day share price update: 2019/09/19 00:00
Last estimates confirmation: 2019/09/16
Last earnings filing: 2019/07/18
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.