Stock TRMD A TORM PLC
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Financials TORM plc

Equities

TRMD A

GB00BZ3CNK81

Oil & Gas Transportation Services

Market Closed - Nasdaq Copenhagen
Other stock markets
 10:59:34 2024-04-26 am EDT 		5-day change 1st Jan Change
241.4 DKK +2.46% Intraday chart for TORM plc +5.88% +18.22%
Apr. 11 TORM plc Approves a Final Dividend for the Year Ended 31 December 2023 CI
Apr. 11 Transcript : TORM plc - Shareholder/Analyst Call

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 831.5 553.2 635.8 2,337 17,507 3,222 - -
Enterprise Value (EV) 1 1,614 1,260 1,599 2,987 17,507 3,923 3,811 3,825
P/E ratio 4.99 x 6.25 x -14.6 x 4.2 x 4.04 x 4.47 x 6.93 x 9.1 x
Yield 0.9% 11.4% - 16.2% 19.1% 21.8% 14% 10.9%
Capitalization / Revenue 1.2 x 0.74 x 1.03 x 1.62 x 11.5 x 2.53 x 3.16 x 3.59 x
EV / Revenue 2.33 x 1.69 x 2.58 x 2.07 x 11.5 x 3.08 x 3.74 x 4.26 x
EV / EBITDA 7.99 x 4.63 x 11.7 x 4.02 x 20.6 x 4.16 x 5.54 x 6.76 x
EV / FCF - - -5.88 x 5.82 x - 7.47 x 6.61 x 7.5 x
FCF Yield - - -17% 17.2% - 13.4% 15.1% 13.3%
Price to Book 0.83 x 0.54 x 0.58 x 1.55 x - 1.66 x 1.65 x 1.64 x
Nbr of stocks (in thousands) 74,435 74,363 80,740 81,818 85,732 93,223 - -
Reference price 2 11.17 7.439 7.875 28.56 30.24 34.57 34.57 34.57
Announcement Date 3/11/20 3/1/21 3/2/22 3/16/23 3/7/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 692.6 747.4 619.5 1,440 1,520 1,272 1,018 898.7
EBITDA 1 202 271.9 136.9 743.1 848 943.8 687.6 566.3
EBIT 1 91.89 150 1.4 601.4 698.6 773.2 515.4 393.1
Operating Margin 13.27% 20.07% 0.23% 41.75% 45.95% 60.77% 50.62% 43.74%
Earnings before Tax (EBT) 1 166.8 89.53 -40.8 557 652 712.5 464.9 353.4
Net income 1 166 88.11 -42.1 562.8 648 711 463.4 351.9
Net margin 23.97% 11.79% -6.8% 39.07% 42.62% 55.88% 45.51% 39.16%
EPS 2 2.240 1.190 -0.5400 6.800 7.480 7.733 4.990 3.798
Free Cash Flow 1 - - -271.8 513 - 525 576.5 510
FCF margin - - -43.88% 35.62% - 41.26% 56.61% 56.75%
FCF Conversion (EBITDA) - - - 69.04% - 55.62% 83.84% 90.06%
FCF Conversion (Net income) - - - 91.15% - 73.84% 124.4% 144.92%
Dividend per Share 2 0.1000 0.8500 - 4.630 5.783 7.545 4.852 3.771
Announcement Date 3/11/20 3/1/21 3/2/22 3/16/23 3/7/24 - - -
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 2025 Q1
Net sales 1 155.5 189.1 209.4 338.5 448.1 444.4 390.2 384.3 358.1 387.8 347.9 305.4 278.6 340.3 217
EBITDA 1 30.4 42.9 60.4 153.4 262.2 267.1 198.5 236.8 178.2 234 268 223.1 196 257.2 143
EBIT 1 -3.7 4.3 22.6 118.1 228.6 231.5 163.5 196.3 140 198.8 225.9 180.4 152.9 214.2 98
Operating Margin -2.38% 2.27% 10.79% 34.89% 51.02% 52.09% 41.9% 51.08% 39.1% 51.26% 64.93% 59.07% 54.89% 62.93% 45.16%
Earnings before Tax (EBT) 1 -14.1 -8 10.7 107 217.3 222 155.1 184.4 127.7 184.8 209.7 165.5 138.1 199.8 82
Net income 1 -14.7 -8.2 10.4 106.6 217.1 228.7 153.6 185.8 124.3 184.3 209.3 165.2 137.6 199.5 82
Net margin -9.45% -4.34% 4.97% 31.49% 48.45% 51.46% 39.36% 48.35% 34.71% 47.52% 60.16% 54.11% 49.38% 58.61% 37.79%
EPS 2 -0.1800 -0.1000 0.1200 1.310 2.630 2.730 1.800 2.140 1.420 2.110 2.210 1.974 1.794 2.524 0.9000
Dividend per Share 2 - - - 0.5800 1.460 - 1.460 1.500 1.460 1.363 1.810 2.599 1.537 1.817 1.440
Announcement Date 11/10/21 3/2/22 5/11/22 8/18/22 11/10/22 3/16/23 5/11/23 8/17/23 11/9/23 3/7/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 783 707 964 650 - 701 588 603
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 3.876 x 2.6 x 7.039 x 0.8747 x - 0.7427 x 0.8555 x 1.065 x
Free Cash Flow 1 - - -272 513 - 525 577 510
ROE (net income / shareholders' equity) 17.9% 8.7% -4.1% 44.1% - 39.5% 23.8% 18.2%
ROA (Net income/ Total Assets) - - - - - 21% 13% 12.7%
Assets 1 - - - - - 3,392 3,563 2,780
Book Value Per Share 2 13.50 13.70 13.50 18.50 - 20.90 21.00 21.10
Cash Flow per Share 2.310 3.170 0.6100 6.060 9.290 - - -
Capex 1 384 173 320 119 - 283 23.5 24.5
Capex / Sales 55.49% 23.15% 51.62% 8.26% - 22.21% 2.31% 2.73%
Announcement Date 3/11/20 3/1/21 3/2/22 3/16/23 3/7/24 - - -
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 TORM plc

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
3
Last Close Price
34.57 USD
Average target price
40.51 USD
Spread / Average Target
+17.20%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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