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Shelf Drilling

OB:SHLF
Snowflake Description

Fair value with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SHLF
OB
NOK3B
Market Cap
  1. Home
  2. NO
  3. Energy
Company description

Shelf Drilling, Ltd., through its subsidiaries, operates as a shallow water offshore drilling contractor in the Middle East, South East Asia, India, West Africa, and the Mediterranean. The last earnings update was 43 days ago. More info.


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  • Shelf Drilling has significant price volatility in the past 3 months.
SHLF Share Price and Events
7 Day Returns
-5.8%
OB:SHLF
-0.3%
NO Energy Services
1.6%
NO Market
1 Year Returns
-61.5%
OB:SHLF
-32.6%
NO Energy Services
-8.3%
NO Market
SHLF Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Shelf Drilling (SHLF) -5.8% 44.3% -25.2% -61.5% - -
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
  • SHLF underperformed the Energy Services industry which returned -32.6% over the past year.
  • SHLF underperformed the Market in Norway which returned -8.3% over the past year.
Price Volatility
SHLF
Industry
5yr Volatility vs Market

SHLF Value

 Is Shelf Drilling 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 Shelf Drilling 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 Shelf Drilling.

OB:SHLF Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 13.2%
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:SHLF
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%) (263.71%))
1.917
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.92
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.76% + (1.917 * 5.96%)
13.18%

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

The calculations below outline how an intrinsic value for Shelf Drilling 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:SHLF DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 13.18%)
2020 -16.00 Analyst x2 -14.14
2021 77.50 Analyst x2 60.50
2022 131.46 Est @ 69.63% 90.67
2023 196.24 Est @ 49.27% 119.58
2024 264.95 Est @ 35.02% 142.65
2025 331.30 Est @ 25.04% 157.59
2026 391.12 Est @ 18.06% 164.38
2027 442.61 Est @ 13.17% 164.35
2028 485.75 Est @ 9.75% 159.36
2029 521.45 Est @ 7.35% 151.15
Present value of next 10 years cash flows $1,196.00
OB:SHLF DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $521.45 × (1 + 1.76%) ÷ (13.18% – 1.76%)
$4,645.24
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $4,645.24 ÷ (1 + 13.18%)10
$1,346.47
OB:SHLF Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,196.00 + $1,346.47
$2,542.47
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,542.47 / 135.56
$18.76
OB:SHLF Discount to Share Price
Calculation Result
Exchange Rate USD/NOK
(Reporting currency to currency of OB:SHLF)
8.977
Value per Share
(NOK)
= Value per Share in USD x Exchange Rate (USD/NOK)
= $18.76 x 8.977
NOK168.37
Value per share (NOK) From above. NOK168.37
Current discount Discount to share price of NOK22.80
= -1 x (NOK22.80 - NOK168.37) / NOK168.37
86.5%

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

Current Discount
Amount off the current price Shelf Drilling is available for.
Intrinsic value
>50%
Share price is NOK22.8 vs Future cash flow value of NOK168.37
Current Discount Checks
For Shelf Drilling to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Shelf Drilling's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Shelf Drilling'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 Shelf Drilling's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Shelf Drilling's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OB:SHLF PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $-0.90
OB:SHLF Share Price ** OB (2019-09-19) in NOK NOK22.8
OB:SHLF Share Price converted to USD reporting currency Exchange rate (NOK/ USD) 0.111 $2.54
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 Shelf Drilling.

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

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

= 2.54 ÷ -0.90

-2.83x

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

  • Shelf Drilling is loss making, we can't compare its value to the NO Energy Services industry average.
  • Shelf Drilling is loss making, we can't compare the value of its earnings to the Norway market.
Price based on expected Growth
Does Shelf Drilling's expected growth come at a high price?
Raw Data
OB:SHLF PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -2.83x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
50.1%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 Shelf Drilling, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Shelf Drilling's assets?
Raw Data
OB:SHLF PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $4.93
OB:SHLF Share Price * OB (2019-09-19) in NOK NOK22.8
OB:SHLF Share Price converted to USD reporting currency Exchange rate (NOK/ USD) 0.111 $2.54
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:SHLF PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 2.54 ÷ 4.93

0.51x

* Primary Listing of Shelf Drilling.

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

  • Shelf Drilling is good value based on assets compared to the NO Energy Services industry average.
X
Value checks
We assess Shelf Drilling'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. Shelf Drilling has a total score of 3/6, see the detailed checks below.

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

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

SHLF Future Performance

 How is Shelf Drilling expected to perform in the next 1 to 3 years based on estimates from 3 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
50.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Shelf Drilling expected to grow at an attractive rate?
  • Unable to compare Shelf Drilling's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.
Growth vs Market Checks
  • Unable to compare Shelf Drilling's earnings growth to the Norway market average as it is expected to be loss making during the next 1-3 years.
  • Shelf Drilling's revenue growth is expected to exceed the Norway market average.
Annual Growth Rates Comparison
Raw Data
OB:SHLF Future Growth Rates Data Sources
Data Point Source Value (per year)
OB:SHLF Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 50.1%
OB:SHLF Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 11%
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:SHLF Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OB:SHLF Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 732 137 -28 3
2020-12-31 707 87 -67 3
2019-12-31 572 15 -134 3
2019-09-19
OB:SHLF Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 598 53 -104
2019-03-31 613 32 -116
2018-12-31 613 38 -146
2018-09-30 605 -26 -133
2018-06-30 583 2 -133
2018-03-31 573 49 -126
2017-12-31 572 62 -83
2017-09-30 583 110 -101
2017-06-30 624 147 -72
2017-03-31 651 112 -32
2016-12-31 684 137 -30

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Shelf Drilling is not considered high growth as it is expected to be loss making for the next 1-3 years.
  • Shelf Drilling's revenue is expected to grow by 11% 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:SHLF 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 3 Analyst Estimates (S&P Global) See Below

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

OB:SHLF Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.03 0.33 -0.27 2.00
2020-12-31 -0.25 -0.10 -0.40 2.00
2019-12-31 -0.75 -0.74 -0.75 2.00
2019-09-19
OB:SHLF Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 -0.90
2019-03-31 -1.11
2018-12-31 -1.50
2018-09-30 -1.48
2018-06-30 -1.61
2018-03-31 -1.55
2017-12-31 -1.02
2017-09-30 -1.65
2017-06-30 -1.75
2017-03-31 -1.56
2016-12-31 -63.75

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Shelf Drilling will efficiently use shareholders’ funds in the future (Return on Equity greater than 20%) as it is not expected to be profitable.
X
Future performance checks
We assess Shelf Drilling'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.
Shelf Drilling has a total score of 1/6, 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.

SHLF Past Performance

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

OB:SHLF Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 597.61 -103.61 45.08
2019-03-31 613.05 -116.38 56.11
2018-12-31 613.32 -145.79 57.13
2018-09-30 605.36 -132.72 59.01
2018-06-30 582.90 -132.50 56.05
2018-03-31 573.22 -126.47 47.25
2017-12-31 571.96 -83.45 43.73
2017-09-30 582.94 -101.01 49.64
2017-06-30 623.83 -71.59 45.75
2017-03-31 650.92 -32.39 44.15
2016-12-31 684.32 -29.84 46.89
2015-12-31 1,031.30 -180.00 139.72
2014-12-31 1,234.50 226.06 107.09

*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 Shelf Drilling has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • Shelf Drilling used its assets less efficiently than the NO Energy Services industry average last year based on Return on Assets.
  • It is difficult to establish if Shelf Drilling 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 Shelf Drilling'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.
Shelf Drilling 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.

SHLF Health

 How is Shelf Drilling'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 Shelf Drilling's finances.

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

OB:SHLF Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 669.45 888.74 71.31
2019-03-31 577.66 888.15 69.89
2018-12-31 591.26 887.76 91.20
2018-09-30 640.41 888.24 66.62
2018-06-30 650.65 888.81 143.38
2018-03-31 631.94 615.99 120.60
2017-12-31 675.22 526.67 84.56
2017-09-30 712.01 527.83 106.58
2017-06-30 721.72 526.94 172.98
2017-03-31 540.31 525.06 81.11
2016-12-31 379.45 809.02 213.14
2015-12-31 410.78 803.05 115.69
2014-12-31
  • Shelf Drilling's level of debt (132.8%) compared to net worth is high (greater than 40%).
  • Unable to establish if Shelf Drilling's debt level has increased without past 5-year debt data.
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.

  • Shelf Drilling has sufficient cash runway for 1.3 years based on current free cash flow.
  • Unable to confirm if Shelf Drilling has at least 1 year of cash runway based on growing free cash flows without relevant data.
X
Financial health checks
We assess Shelf Drilling'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. Shelf Drilling 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.

SHLF Dividends

 What is Shelf Drilling'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 Shelf Drilling dividends. Estimated to be 0% next year.
If you bought NOK2,000 of Shelf Drilling 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 Shelf Drilling's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Shelf Drilling'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:SHLF 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 3 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:SHLF Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.00 1.00
2020-12-31 0.00 1.00
2019-12-31 0.00 1.00
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 Shelf Drilling has not reported any payouts.
  • Unable to verify if Shelf Drilling's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Shelf Drilling's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Shelf Drilling has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Shelf Drilling's dividends in 3 years as they are not expected to pay a notable one for Norway.
X
Income/ dividend checks
We assess Shelf Drilling'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 Shelf Drilling afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Shelf Drilling 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.

SHLF Management

 What is the CEO of Shelf Drilling'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
David Mullen
AGE 61
TENURE AS CEO 6.9 years
CEO Bio

Mr. David J. Mullen serves as the Chief Executive Officer at Shelf Drilling Holdings Limited and Shelf Drilling, Ltd. Mr. Mullen was founder of Shelf Drilling Holdings Limited. Mr. Mullen has over 30 years experience in the oil services business, including four years as a senior leader of the world's largest offshore drilling company, Transocean. He was Senior Vice President of Global Marketing, Business Development and M&A at Transocean Ltd from October 18, 2006 to August 2008., he spearheaded marketing and strategic planning. He served as Chief Executive Officer of Ocean Rig UDW Inc. He served as President of North & South America - Schlumberger Oilfield Services at Schlumberger Limited since 2001. From September 2010 to April 2011, Mr. Mullen was Chief Executive Officer of Wellstream Holdings PLC. From April 2008 to August 2010, he served as Chief Executive Officer of Ocean Rig ASA. Prior to Ocean Rig ASA, he held a 23-year career at Schlumberger, including as President of Oilfield Services for North and South America. He served as a Director of Siem Offshore Inc. since October 2008 until May 06, 2016. He was Director of Wellstream Holdings Limited from September 1, 2010 to March 9, 2011. Mr. Mullen received a B.A. in Geology & Physics from Trinity College Dublin and an M.S. degree in Geophysics from University College Galway.

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

David Mullen

TITLE
CEO & Director
AGE
61
TENURE
6.9 yrs

Greg O’Brien

TITLE
Executive VP & CFO
AGE
32
TENURE
3.5 yrs

Kurt Hoffman

TITLE
Executive VP & COO
AGE
65

Dzul Bakar

TITLE
VP, General Counsel & Secretary
AGE
52

Ian Clark

TITLE
Executive Vice President
AGE
59
Board of Directors Tenure

Average tenure and age of the Shelf Drilling board of directors in years:

4.2
Average Tenure
62.5
Average Age
  • The tenure for the Shelf Drilling board of directors is about average.
Board of Directors

Ernie Danner

TITLE
Chairman
AGE
64
TENURE
0.8 yrs

David Mullen

TITLE
CEO & Director
AGE
61

David Williams

TITLE
Director
AGE
66
TENURE
2.1 yrs

Graham Brooke

TITLE
Director
TENURE
2.4 yrs

JKC Castle

TITLE
Director
AGE
79
TENURE
6.8 yrs

J. Franklin

TITLE
Director
AGE
47
TENURE
7 yrs

David Pittaway

TITLE
Director
AGE
67
TENURE
4.2 yrs

John Reynolds

TITLE
Director
AGE
48
TENURE
7 yrs

Ben Sebel

TITLE
Director
TENURE
6.8 yrs

Tyson Smith

TITLE
Director
AGE
31
TENURE
2.4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (NOK) Value (NOK)
04. Sep 19 Buy Pelham Capital Ltd Company 03. Sep 19 03. Sep 19 1,000,000 NOK18.13 NOK18,129,997
09. May 19 Buy CMIC Ocean En-Tech Holding Co., Ltd. Company 09. May 19 09. May 19 3,692,308 NOK57.08 NOK210,768,018
09. May 19 Buy Wealthy Marvel International Limited Company 09. May 19 09. May 19 23,076,922 NOK57.08 NOK1,317,299,939
X
Management checks
We assess Shelf Drilling'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. Shelf Drilling 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.

SHLF News

Simply Wall St News

Introducing Shelf Drilling (OB:SHLF), The Stock That Slid 54% In The Last Year

View our latest analysis for Shelf Drilling Given that Shelf Drilling didn't make a profit in the last twelve months, we'll focus on revenue growth to form a quick view of its business development. … In the last twelve months, Shelf Drilling increased its revenue by 6.9%. … It's likely this muted growth has contributed to the share price decline of 54% in the last year.

Simply Wall St -

Such Is Life: How Shelf Drilling (OB:SHLF) Shareholders Saw Their Shares Drop 54%

See our latest analysis for Shelf Drilling Because Shelf Drilling is loss-making, we think the market is probably more focussed on revenue and revenue growth, at least for now. … It's likely this muted growth has contributed to the share price decline of 54% in the last year. … You could get a better understanding of Shelf Drilling's growth by checking out this more detailed historical graph of earnings, revenue and cash flow.

Simply Wall St -

Shelf Drilling, Ltd.'s (OB:SHLF) Profit Outlook

View our latest analysis for Shelf Drilling Consensus from the 3 Energy Services analysts is SHLF is on the verge of breakeven. … How fast will SHLF have to grow each year in order to reach the breakeven point by 2020? … Working backwards from analyst estimates, it turns out that they expect the company to grow 103% year-on-year, on average, which signals high confidence from analysts.

Simply Wall St -

Do Directors Own Shelf Drilling, Ltd. (OB:SHLF) Shares?

Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … Shelf Drilling is not a large company by global standards. … institutions own shares in the company.

Simply Wall St -

Did You Manage To Avoid Shelf Drilling's 42% Share Price Drop?

Shelf Drilling isn't a profitable company, so it is unlikely we'll see a strong correlation between its share price and its earnings per share (EPS). … In the last twelve months, Shelf Drilling increased its revenue by 3.8%. … In a hot market it's easy to forget growth is the life-blood of a loss making company.

Simply Wall St -

Shelf Drilling, Ltd. (OB:SHLF): Time For A Financial Health Check

(OB:SHLF) is a small-cap stock with a market capitalization of øre4.3b. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … Assessing first and foremost the financial health is

Simply Wall St -

What Kind Of Shareholder Appears On The Shelf Drilling, Ltd.'s (OB:SHLF) Shareholder Register?

Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … Shelf Drilling is a smaller company with a market capitalization of øre5.1b, so it may still be flying under the radar of many institutional investors. … institutions own shares in the company.

Simply Wall St -

What You Must Know About Shelf Drilling Ltd's (OB:SHLF) Financial Strength

While small-cap stocks, such as Shelf Drilling Ltd (OB:SHLF) with its market cap of US$6.54b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.

Simply Wall St -

SHLF Company Info

Description

Shelf Drilling, Ltd., through its subsidiaries, operates as a shallow water offshore drilling contractor in the Middle East, South East Asia, India, West Africa, and the Mediterranean. It provides equipment and services for the drilling, completion, and well maintenance of shallow water offshore oil and natural gas wells. The company serves integrated oil and gas companies, independent exploration and production companies, and government owned/controlled oil and gas companies. As of December 31, 2018, it owned 38 independent cantilever jack up rigs; and 1 swamp barge. The company was founded in 2012 and is headquartered in Dubai, the United Arab Emirates.

Details
Name: Shelf Drilling, Ltd.
SHLF
Exchange: OB
Founded: 2012
NOK3,090,794,744
135,561,173
Website: http://www.shelfdrilling.com
Address: Shelf Drilling, Ltd.
One JLT,
Floor 12,
Dubai,
United Arab Emirates
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB SHLF Common Shares Oslo Bors NO NOK 08. May 2017
DB 6SD Common Shares Deutsche Boerse AG DE EUR 08. May 2017
BATS-CHIXE SHLFO Common Shares BATS 'Chi-X Europe' GB NOK 08. May 2017
Number of employees
Current staff
Staff numbers
1,889
Shelf Drilling employees.
Industry
Oil and Gas Drilling
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/09/19 21:44
End of day share price update: 2019/09/19 00:00
Last estimates confirmation: 2019/09/12
Last earnings filing: 2019/08/07
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.