Discounted Cash Flow Calculation for OB:ICE using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for
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:ICE DCF 1st Stage: Next 10 year cash flow forecast
Amount off the current price
is available for.
Share price is
vs Future cash flow value of
Current Discount Checks
to be considered undervalued it must be available for at least 20% below the
current price. Less than 40% is even better.
Ice Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
Ice Group'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
is considered below, and whether this is a fair price.
Price based on past earnings
Ice Group's earnings available for a low price, and how does
this compare to other companies in the same industry?
Ice Group's earnings are expected to grow significantly at over 20% yearly.
Ice Group's revenue is expected to grow by 20% 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.
Ice Group's performance over the past 5 years by checking for:
Has earnings increased in past 5 years? (1 check)
Has the earnings growth in the last year exceeded that of the
industry? (1 check)
Is the recent earnings growth over the last year higher than the average annual growth over the
past 5 years? (1 check)
Is the Return on Equity (ROE) higher than 20%? (1 check)
Is the Return on Assets (ROA) above industry average? (1 check)
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.
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.
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.
TENURE AS CEO
Mr. Eivind Helgaker has been the Chief Executive Officer of Ice Group AS & ice group Scandinavia Holdings AS since August 2018 and is Head of Norwegian Business since 2009. Mr. Helgaker served as Managing Director of Norway at ice group Scandinavia Holdings.
Insufficient data for Eivind to compare compensation growth.
Insufficient data for Eivind to establish whether their remuneration is reasonable compared to companies of similar size in Norway.
Management Team Tenure
Average tenure and age of the
management team in years:
The average tenure for the Ice Group management team is less than 2 years, this suggests a new team.
CEO & Head of Norwegian Business
Chief Financial Officer
Chief Technology Officer
Chief Commercial Officer
Chief Product Officer
Chief of Staff
Board of Directors Tenure
Average tenure and age of the
board of directors in years:
The average tenure for the Ice Group board of directors is less than 3 years, this suggests a new board.
Board of Directors
Chairman of the Board
Who owns this company?
Recent Insider Trading
No 3 month open market individual insider trading information.
Eivind Helgaker Is The CEO & Head of Norwegian Business of Ice Group ASA (OB:ICE) And They Just Spent kr96k On Shares
See our latest analysis for Ice Group Ice Group Insider Transactions Over The Last Year In fact, the recent purchase by Eivind Helgaker was the biggest purchase of Ice Group shares made by an insider individual in the last twelve months, according to our records. … OB:ICE Recent Insider Trading, August 30th 2019 Insider Ownership of Ice Group Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. … When combined with notable insider ownership, these factors suggest Ice Group insiders are well aligned, and quite possibly think the share price is too low.
What Type Of Shareholder Owns Ice Group ASA's (OB:ICE)?
Insider Ownership Of Ice Group The definition of company insiders can be subjective, and does vary between jurisdictions. … Private Company Ownership We can see that Private Companies own 46%, of the shares on issue. … Sometimes insiders have an interest in a public company through a holding in a private company, rather than in their own capacity as an individual.
Some Ice Group (OB:ICE) Shareholders Have Taken A Painful 79% Share Price Drop
So spare a thought for the long term shareholders of Ice Group ASA (OB:ICE); the share price is down a whopping 79% in the last twelve months. … View our latest analysis for Ice Group Ice Group 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). … It seems that the market has concerns about the future, because that share price action does not seem to reflect the revenue growth at all.
Ice Group ASA provides telecommunications services in Norway, Sweden, and Denmark. It offers data, voice, messaging, data and mobile broadband telephony, and other related services. Ice Group ASA provides its services primarily under the ice and Net1 brands. The company was formerly known as AINMT AS and changed its name to Ice Group ASA in August 2017. Ice Group AS was founded in 2015 and is based in Oslo, Norway.
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