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Polarcus

OB:PLCS
Snowflake Description

Reasonable growth potential with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PLCS
OB
NOK637M
Market Cap
  1. Home
  2. NO
  3. Energy
Company description

Polarcus Limited, a marine geophysical service company, provides marine seismic data acquisition and processing services to oil and gas companies in the Asia Pacific, Europe, Africa, the Middle East, and North and South America. The last earnings update was 57 days ago. More info.


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PLCS Share Price and Events
7 Day Returns
1.6%
OB:PLCS
-0.3%
NO Energy Services
1.6%
NO Market
1 Year Returns
-34.7%
OB:PLCS
-32.6%
NO Energy Services
-8.3%
NO Market
PLCS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Polarcus (PLCS) 1.6% 7.8% 20.4% -34.7% -67.4% -99.3%
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
  • PLCS underperformed the Energy Services industry which returned -32.6% over the past year.
  • PLCS underperformed the Market in Norway which returned -8.3% over the past year.
Price Volatility
PLCS
Industry
5yr Volatility vs Market

PLCS Value

 Is Polarcus 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 Polarcus 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 Polarcus.

OB:PLCS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 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:PLCS
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- 55%) (477.97%))
2.616
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:PLCS using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Polarcus 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:PLCS DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 13.68%)
2020 28.65 Analyst x5 25.20
2021 21.75 Analyst x2 16.83
2022 18.02 Est @ -17.12% 12.27
2023 15.96 Est @ -11.46% 9.56
2024 14.76 Est @ -7.49% 7.78
2025 14.07 Est @ -4.72% 6.52
2026 13.68 Est @ -2.77% 5.57
2027 13.48 Est @ -1.41% 4.83
2028 13.42 Est @ -0.46% 4.23
2029 13.45 Est @ 0.2% 3.73
Present value of next 10 years cash flows $96.00
OB:PLCS DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $13.45 × (1 + 1.76%) ÷ (13.68% – 1.76%)
$114.80
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $114.80 ÷ (1 + 13.68%)10
$31.85
OB:PLCS Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $96.00 + $31.85
$127.85
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $127.85 / 513.79
$0.25
OB:PLCS Discount to Share Price
Calculation Result
Exchange Rate USD/NOK
(Reporting currency to currency of OB:PLCS)
8.977
Value per Share
(NOK)
= Value per Share in USD x Exchange Rate (USD/NOK)
= $0.25 x 8.977
NOK2.23
Value per share (NOK) From above. NOK2.23
Current discount Discount to share price of NOK1.24
= -1 x (NOK1.24 - NOK2.23) / NOK2.23
44.5%

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

Current Discount
Amount off the current price Polarcus is available for.
Intrinsic value
44%
Share price is NOK1.24 vs Future cash flow value of NOK2.23
Current Discount Checks
For Polarcus to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Polarcus's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Polarcus'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 Polarcus's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Polarcus's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OB:PLCS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $-0.06
OB:PLCS Share Price ** OB (2019-09-19) in NOK NOK1.24
OB:PLCS Share Price converted to USD reporting currency Exchange rate (NOK/ USD) 0.111 $0.14
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 Polarcus.

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

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

= 0.14 ÷ -0.06

-2.3x

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

  • Polarcus is loss making, we can't compare its value to the NO Energy Services industry average.
  • Polarcus is loss making, we can't compare the value of its earnings to the Norway market.
Price based on expected Growth
Does Polarcus's expected growth come at a high price?
Raw Data
OB:PLCS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -2.3x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
97.7%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 Polarcus, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Polarcus's assets?
Raw Data
OB:PLCS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $0.14
OB:PLCS Share Price * OB (2019-09-19) in NOK NOK1.24
OB:PLCS Share Price converted to USD reporting currency Exchange rate (NOK/ USD) 0.111 $0.14
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:PLCS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 0.14 ÷ 0.14

0.96x

* Primary Listing of Polarcus.

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

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

PLCS Future Performance

 How is Polarcus 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
97.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Polarcus expected to grow at an attractive rate?
  • Polarcus's earnings growth is expected to exceed the low risk savings rate of 1.8%.
Growth vs Market Checks
  • Polarcus's earnings growth is expected to exceed the Norway market average.
  • Polarcus's revenue growth is positive but not above the Norway market average.
Annual Growth Rates Comparison
Raw Data
OB:PLCS Future Growth Rates Data Sources
Data Point Source Value (per year)
OB:PLCS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 97.7%
OB:PLCS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 3.8%
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:PLCS 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:PLCS Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 283 52 20 6
2020-12-31 258 45 10 6
2019-12-31 253 27 -15 6
2019-09-19
OB:PLCS Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 289 23 -31
2019-03-31 273 12 -40
2018-12-31 228 11 -32
2018-09-30 196 18 -105
2018-06-30 167 20 -106
2018-03-31 158 25 -132
2017-12-31 175 34 -172
2017-09-30 187 13 -178
2017-06-30 194 36 -186
2017-03-31 227 48 -164
2016-12-31 242 48 20
2016-09-30 260 79 -172

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Polarcus's earnings are expected to grow significantly at over 20% yearly.
  • Polarcus's revenue is expected to grow by 3.8% 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:PLCS 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 Polarcus Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:PLCS Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.04 0.07 0.01 5.00
2020-12-31 0.02 0.03 0.01 5.00
2019-12-31 -0.03 -0.02 -0.04 6.00
2019-09-19
OB:PLCS Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 -0.06
2019-03-31 -0.08
2018-12-31 -0.07
2018-09-30 -0.29
2018-06-30 -0.21
2018-03-31 -0.61
2017-12-31 -1.28
2017-09-30 -1.62
2017-06-30 -1.21
2017-03-31 -2.74
2016-12-31 0.46
2016-09-30 -5.23

*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.
  • Polarcus is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Polarcus'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.
Polarcus 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.

PLCS Past Performance

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

OB:PLCS Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 289.47 -31.15 14.43
2019-03-31 272.74 -39.91 14.04
2018-12-31 228.10 -31.79 14.17
2018-09-30 195.91 -105.39 14.72
2018-06-30 166.85 -106.09 14.95
2018-03-31 157.52 -131.63 12.58
2017-12-31 174.63 -172.45 15.95
2017-09-30 187.45 -177.77 15.06
2017-06-30 194.07 -186.09 16.06
2017-03-31 226.88 -163.68 18.85
2016-12-31 241.66 20.27 19.36
2016-09-30 260.39 -171.91 21.07
2016-06-30 320.49 -134.69 21.76
2016-03-31 344.33 -201.75 23.19
2015-12-31 363.58 -374.11 21.54
2015-09-30 391.01 -164.85 23.53
2015-06-30 378.04 -193.55 26.55
2015-03-31 423.91 -106.04 28.51
2014-12-31 463.72 -78.64 30.41
2014-09-30 491.57 8.69 29.39
2014-06-30 513.45 37.49 27.97
2014-03-31 506.32 34.57 27.37
2013-12-31 530.17 43.47 27.31
2013-09-30 549.30 32.81 28.63
2013-06-30 590.37 33.96 28.22
2013-03-31 574.23 31.09 27.77
2012-12-31 529.27 9.83 26.40
2012-09-30 490.55 10.84 23.11

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

PLCS Health

 How is Polarcus'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 Polarcus's finances.

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

OB:PLCS Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 73.64 337.25 22.59
2019-03-31 73.09 337.92 27.71
2018-12-31 78.29 336.10 30.24
2018-09-30 96.18 342.72 26.07
2018-06-30 104.44 342.03 34.63
2018-03-31 107.47 340.80 46.03
2017-12-31 44.72 302.92 26.07
2017-09-30 136.27 303.24 24.87
2017-06-30 145.21 303.86 29.50
2017-03-31 178.59 304.56 40.18
2016-12-31 178.81 295.60 14.51
2016-09-30 275.66 294.52 37.22
2016-06-30 292.91 306.27 26.67
2016-03-31 304.01 307.89 37.74
2015-12-31 111.87 500.50 54.76
2015-09-30 400.89 515.33 46.40
2015-06-30 380.92 523.13 38.74
2015-03-31 458.99 527.73 44.26
2014-12-31 485.47 520.76 66.25
2014-09-30 530.96 578.08 91.22
2014-06-30 539.02 546.61 73.82
2014-03-31 529.12 550.00 66.10
2013-12-31 527.58 558.83 60.76
2013-09-30 519.58 538.72 97.21
2013-06-30 499.05 581.42 145.48
2013-03-31 492.10 551.13 85.97
2012-12-31 481.41 623.92 44.54
2012-09-30 483.79 626.95 87.07
  • Polarcus's level of debt (458%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (101.5% vs 458% 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 Polarcus has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Polarcus has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 59.7% per year.
X
Financial health checks
We assess Polarcus'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. Polarcus has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

PLCS Dividends

 What is Polarcus'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 Polarcus dividends. Estimated to be 0% next year.
If you bought NOK2,000 of Polarcus 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 Polarcus's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Polarcus'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:PLCS 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:PLCS Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.00 2.00
2020-12-31 0.00 2.00
2019-12-31 0.00 2.00
2019-09-19

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

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

PLCS Management

 What is the CEO of Polarcus'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
Duncan Eley
COMPENSATION $919,000
AGE 47
TENURE AS CEO 2.5 years
CEO Bio

Mr. Duncan Eley has been the Chief Executive Officer of Polarcus Limited since March 17, 2017. Mr. Eley served as the Chief Operating Officer of Polarcus Limited since May 1, 2013 until March 24, 2017. Mr. Eley has over 12 years of experience in the seismic industry. He served as Senior Vice President of Marine Acquisition at Polarcus. He worked with WesternGeco for 10 years supporting marine seismic operations in Europe, West Africa and North America. He held positions in technology development and support in WesternGeco. Prior to joining Polarcus in 2009, he worked for several years with strategy consultancy firm, L.E.K. Consulting, across the energy, transport and natural resources sectors. Mr. Eley has a Bachelor of Science and Bachelor of Engineering (with Honours) from Monash University in Australia. In 2006, he completed his MBA at Erasmus University in Holland.

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

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

3.3
Average Tenure
47
Average Age
  • The tenure for the Polarcus management team is about average.
Management Team

Duncan Eley

TITLE
Chief Executive Officer
COMPENSATION
$919K
AGE
47
TENURE
2.5 yrs

Hans-Peter Burlid

TITLE
Chief Financial Officer
COMPENSATION
$832K
AGE
39
TENURE
3.5 yrs

Lars Østergaard

TITLE
Chief Operating Officer
COMPENSATION
$448K
AGE
46
TENURE
1.3 yrs

Caleb Raywood

TITLE
General Counsel & Company Secretary
AGE
49
TENURE
3.3 yrs

Andy Lambert

TITLE
Vice President of Global Sales
TENURE
0.2 yrs

Tamzin Steel

TITLE
Senior Vice President of People & Business Services
AGE
42
TENURE
3.3 yrs

Phil Fontana

TITLE
Chief Geophysicist
AGE
67

Magnus Öberg

TITLE
Vice President of Informantion Technology
COMPENSATION
$225K
AGE
49
TENURE
11.4 yrs

Christopher Griffin

TITLE
Vice President of Environment Health Safety & Quality
COMPENSATION
$260K
AGE
58
TENURE
11.4 yrs

Jai Pandya

TITLE
Vice President of APAC
AGE
47
TENURE
1.9 yrs
Board of Directors Tenure

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

3.3
Average Tenure
56
Average Age
  • The tenure for the Polarcus board of directors is about average.
Board of Directors

Mike Mannering

TITLE
Chairman
AGE
67
TENURE
1.3 yrs

Karen El-Tawil

TITLE
Non-Executive Independent Director
AGE
58
TENURE
5.6 yrs

James Smith

TITLE
Director
AGE
68
TENURE
2.5 yrs

Carl-Peter Zickerman

TITLE
Founder & Director
AGE
47
TENURE
3.3 yrs

Tom Slethei

TITLE
Director
AGE
45
TENURE
3.3 yrs

Erik Mathiesen

TITLE
Director
AGE
49
TENURE
3.3 yrs

Monish Sahni

TITLE
Director
AGE
56
TENURE
0.4 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Polarcus individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (NOK) Value (NOK)
29. Aug 19 Buy Lars Østergaard Individual 29. Aug 19 29. Aug 19 75,000 NOK1.16 NOK86,850
21. Aug 19 Buy Michael E. Mannering Individual 20. Aug 19 20. Aug 19 150,000 NOK1.14 NOK171,300
15. Aug 19 Buy Monish Sahni Individual 15. Aug 19 15. Aug 19 125,000 NOK1.12 NOK140,412
29. Jul 19 Buy Duncan Eley Individual 29. Jul 19 29. Jul 19 375,000 NOK1.21 NOK453,113
29. Jul 19 Buy Hans-Peter Burlid Individual 29. Jul 19 29. Jul 19 270,000 NOK1.21 NOK326,241
25. Jul 19 Buy James Smith Individual 24. Jul 19 24. Jul 19 135,000 NOK1.21 NOK163,876
05. Mar 19 Buy Lars Østergaard Individual 04. Mar 19 04. Mar 19 75,000 NOK1.22 NOK91,500
05. Mar 19 Buy Caleb Raywood Individual 04. Mar 19 04. Mar 19 75,000 NOK1.23 NOK92,250
05. Mar 19 Buy Tamzin Steel Individual 04. Mar 19 04. Mar 19 75,000 NOK1.23 NOK92,250
05. Mar 19 Buy Duncan Eley Individual 04. Mar 19 04. Mar 19 150,000 NOK1.23 NOK184,500
05. Mar 19 Buy Hans-Peter Burlid Individual 04. Mar 19 04. Mar 19 75,000 NOK1.23 NOK92,250
X
Management checks
We assess Polarcus'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. Polarcus 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.

PLCS News

Simply Wall St News

Should You Be Worried When Polarcus Limited’s (OB:PLCS) Insiders Sell?

Polarcus Limited, a marine geophysical company, provides marine seismic data acquisition and processing services to oil and gas companies in the Asia Pacific, Europe, Africa, the Middle East, and North and South America. … Polarcus's insiders have divested from. … A well-known argument is that insiders divesting from their own companies’ shares sends a pessimistic signal

Simply Wall St -

Should You Have Polarcus Limited's (OB:PLCS) In Your Portfolio?

The other type of risk, which cannot be diversified away, is market risk. … Every stock in the market is exposed to this risk, which arises from macroeconomic factors such as economic growth and geo-political tussles just to name a few. … A popular measure of market risk for a stock is its beta, and the market as a whole represents a beta value of one.

Simply Wall St -

How Financially Strong Is Polarcus Limited (OB:PLCS)?

Investors are always looking for growth in small-cap stocks like Polarcus Limited (OB:PLCS), with a market cap of øre1.34b. … However, an important fact which most ignore is: how financially healthy is the business? … Companies operating in the Energy Services industry,

Simply Wall St -

How Did Polarcus Limited's (OB:PLCS) Earnings Growth Stack Up Against The Industry?

See our latest analysis for Polarcus How PLCS fared against its long-term earnings performance and its industry To account for any quarterly or half-yearly updates, I use the ‘latest twelve-month’ data, which either annualizes the most recent 6-month earnings update, or in some cases, the most recent annual report is already the latest available financial data. … Polarcus's track record can be a valuable insight into its earnings performance, but it certainly doesn't tell the whole story. … You should continue to research Polarcus to get a more holistic view of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for PLCS’s future growth?

Simply Wall St -

Oil & Gas Industry Trends And Its Impact On Polarcus Limited (OB:PLCS)

This rate is larger than the growth rate of the NO stock market as a whole. … However, recently the sector saw a reversal in the downturn, and in the previous year, the industry saw growth of over 100%, beating the NO market growth of 7.47%. … If Polarcus has been on your watchlist for a while, now may be the time to enter into the stock, if you like its growth prospects and are not highly concentrated in the energy industry.

Simply Wall St -

Can Polarcus Limited (OB:PLCS) Improve Your Portfolio Returns?

Polarcus has a beta of 1.95, which means that the percentage change in its stock value will be higher than the entire market in times of booms and busts. … A high level of beta means investors face higher risk associated with potential gains and losses driven by market movements. … With a market cap of ØRE816.92M, PLCS falls within the small-cap spectrum of stocks, which are found to experience higher relative risk compared to larger companies.

Simply Wall St -

What You Must Know About Polarcus Limited's (OB:PLCS) Major Investors

View our latest analysis for Polarcus OB:PLCS Ownership_summary Apr 20th 18 Institutional Ownership Due to the big order sizes of institutional investors, a company's shares can experience large, one-sided momentum, driven by high volume of shares removed from, or injected into, the market. … Insider Ownership Another important group of shareholders are company insiders. … Thus, investors not need worry too much about the consequences of these holdings.Next Steps: While institutional ownership in PLCS is low, active hedge funds still have a significant stake in the company.

Simply Wall St -

Polarcus Limited (OB:PLCS): Time For A Financial Health Check

At this current level of debt, the current cash and short-term investment levels stands at US$25.85M , ready to deploy into the business. … Moreover, PLCS has produced US$34.06M in operating cash flow over the same time period, leading to an operating cash to total debt ratio of 11.25%, signalling that PLCS’s operating cash is not sufficient to cover its 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: PLCS’s high debt levels is not met with high cash flow coverage.

Simply Wall St -

At NOK1.362, Is It Time To Buy Polarcus Limited (OB:PLCS)?

Polarcus Limited (OB:PLCS), an energy company based in United Arab Emirates, saw a decent share price growth in the teens level on the OB over the last few months. … 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. … PLCS’s optimistic future growth appears to have been factored into the current share price, with shares trading around its fair value.

Simply Wall St -

PLCS Company Info

Description

Polarcus Limited, a marine geophysical service company, provides marine seismic data acquisition and processing services to oil and gas companies in the Asia Pacific, Europe, Africa, the Middle East, and North and South America. It specializes in delivering towed streamer data acquisition and imaging services from pole to pole. The company provides services ranging from classic 3D/4D seismic, and wide and multi-azimuth projects; and 3D multi-client project library services. It operates a fleet of 7 3D vessels, including Polarcus Naila, Polarcus Asima, Polarcus Alima, Polarcus Adira, Vyacheslav Tikhonov, and Ivan Gubkin. Polarcus Limited was incorporated in 2007 and is headquartered in Dubai, the United Arab Emirates.

Details
Name: Polarcus Limited
PLCS
Exchange: OB
Founded: 2007
NOK637,095,524
513,786,713
Website: http://www.polarcus.com
Address: Polarcus Limited
Reef Tower,
Level 20,
Dubai,
United Arab Emirates
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB PLCS Ordinary Shares Oslo Bors NO NOK 17. Apr 2009
MUN 29P Ordinary Shares Boerse Muenchen DE EUR 17. Apr 2009
BATS-CHIXE PLCSO Ordinary Shares BATS 'Chi-X Europe' GB NOK 17. Apr 2009
Number of employees
Current staff
Staff numbers
322
Polarcus 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 21:01
End of day share price update: 2019/09/19 00:00
Last estimates confirmation: 2019/09/16
Last earnings filing: 2019/07/24
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.