Stock BWO BW OFFSHORE LIMITED
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Financials BW Offshore Limited

Equities

BWO

BMG1738J1247

Oil Related Services and Equipment

Market Closed - Oslo Bors
Other stock markets
 10:45:00 2024-04-26 am EDT 		5-day change 1st Jan Change
28.3 NOK +2.54% Intraday chart for BW Offshore Limited +2.17% +26.23%
Apr. 12 BW Offshore Agrees Deal to Recycle Petróleo Nautipa Vessel MT
Mar. 13 BW Offshore Buys Back $28.6 Million Convertible Bonds MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 1,385 799.7 583 458.8 398.8 463.3 -
Enterprise Value (EV) 1 2,381 1,736 1,236 956.2 571 707.2 1,183
P/E ratio 17 x -3.57 x 9.15 x 3.84 x 4.32 x 5.34 x 5.28 x
Yield - 3.1% 4.64% 5.52% 12.2% 7.61% 7.61%
Capitalization / Revenue 1.2 x 0.91 x 0.7 x 0.59 x 0.6 x 0.96 x 1.14 x
EV / Revenue 2.07 x 1.98 x 1.49 x 1.24 x 0.87 x 1.47 x 2.91 x
EV / EBITDA 3.35 x 3.98 x 3.08 x 2.77 x 1.87 x 2.53 x 5.27 x
EV / FCF 7,112,796 x 5,722,978 x 5,756,167 x -12,072,912 x - - -
FCF Yield 0% 0% 0% -0% - - -
Price to Book 1.23 x 1.07 x 0.71 x 0.49 x 0.4 x 0.38 x 0.34 x
Nbr of stocks (in thousands) 184,955 180,800 193,034 180,815 180,815 180,815 -
Reference price 2 7.487 4.423 3.020 2.537 2.206 2.563 2.563
Announcement Date 2/28/20 2/19/21 2/28/22 2/28/23 2/29/24 - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 1,153 877.2 829.3 774.1 659.2 482.5 406.2
EBITDA 1 709.9 436.1 401.3 345.7 305.5 279.7 224.6
EBIT 1 297.6 -144.8 42 123.6 137.9 120.7 27.72
Operating Margin 25.81% -16.51% 5.06% 15.97% 20.92% 25.01% 6.83%
Earnings before Tax (EBT) 1 184.3 -272 46.9 149.7 113.3 88.59 94.18
Net income 1 82.6 -272.6 62.6 129.7 97.6 86.42 87.32
Net margin 7.16% -31.08% 7.55% 16.75% 14.81% 17.91% 21.5%
EPS 2 0.4400 -1.240 0.3300 0.6600 0.5100 0.4800 0.4849
Free Cash Flow 334.8 303.3 214.8 -79.2 - - -
FCF margin 29.04% 34.58% 25.9% -10.23% - - -
FCF Conversion (EBITDA) 47.16% 69.55% 53.53% - - - -
FCF Conversion (Net income) 405.33% - 343.13% - - - -
Dividend per Share 2 - 0.1370 0.1400 0.1400 0.2700 0.1950 0.1950
Announcement Date 2/28/20 2/19/21 2/28/22 2/28/23 2/29/24 - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 199.6 203 193.6 192.8 176.5 211.2 166.3 166.1 156.4 170.4 - - - -
EBITDA 97.1 102.3 84.8 75.6 80.4 104.9 79 60.9 74.5 91.1 - - - -
EBIT 28.3 -50.9 30.4 25.8 29.6 37.8 37.2 18.2 38.2 44.3 - - - -
Operating Margin 14.18% -25.07% 15.7% 13.38% 16.77% 17.9% 22.37% 10.96% 24.42% 26% - - - -
Earnings before Tax (EBT) 1 - -32.8 54.1 18.4 32.9 44.3 20.9 13.9 36.1 42.4 43.41 44.38 45.36 46.03
Net income 6.3 -49.7 46.3 12.6 29.9 40.9 18.5 12 30 40 - - 38.41 39.08
Net margin 3.16% -24.48% 23.92% 6.54% 16.94% 19.37% 11.12% 7.22% 19.18% 23.47% - - - -
EPS 0.0400 -0.2300 0.2300 0.0700 0.1500 0.2100 0.0900 0.0800 0.1500 0.2000 - - 0.2124 0.2162
Dividend per Share - - - 0.0350 0.0400 0.0350 0.0630 0.0630 0.0630 0.0880 - - - -
Announcement Date 11/23/21 2/28/22 5/27/22 8/29/22 11/18/22 2/28/23 5/24/23 8/28/23 11/16/23 2/29/24 - - - -
1USD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 997 936 653 497 172 244 720
Net Cash position 1 - - - - - - -
Leverage (Debt/EBITDA) 1.404 x 2.147 x 1.628 x 1.439 x 0.5637 x 0.8718 x 3.206 x
Free Cash Flow 335 303 215 -79.2 - - -
ROE (net income / shareholders' equity) 10.8% -29.2% 8.24% 9% 11.1% 8.44% 6.99%
ROA (Net income/ Total Assets) 2.44% -9.15% 2.24% 3.99% 2.62% 15.2% 1.9%
Assets 1 3,392 2,978 2,798 3,254 3,726 568.6 4,596
Book Value Per Share 2 6.100 4.130 4.280 5.190 5.560 6.780 7.460
Cash Flow per Share 3.220 1.810 2.370 - - - -
Capex 274 84 295 730 805 - -
Capex / Sales 23.72% 9.58% 35.62% 94.24% 122.04% - -
Announcement Date 2/28/20 2/19/21 2/28/22 2/28/23 2/29/24 - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for BW Offshore Limited

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
3
Last Close Price
2.563 USD
Average target price
3.952 USD
Spread / Average Target
+54.22%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Oil Related Services
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