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Seaspan Corporation
SSW : NYSE : Services

$22.17 0.21 | 0.96%
Today's Range: 21.87 - 22.24
Avg. Daily Volume: 191,700
04/17/14 - 4:04 PM ET

Financial Analysis


SEASPAN CORP's gross profit margin for the fourth quarter of its fiscal year 2013 is essentially unchanged when compared to the same period a year ago. The company has grown its sales and net income during the past quarter when compared with the same quarter a year ago, and although its growth in net income has outpaced the industry average, its revenue growth has not. SEASPAN CORP has average liquidity. Currently, the Quick Ratio is 1.11 which shows that technically this company has the ability to cover short-term cash needs. The company's liquidity has decreased from the same period last year.

At the same time, stockholders' equity ("net worth") has greatly increased by 28.97% from the same quarter last year. Together, the key liquidity measurements indicate that it is relatively unlikely that the company will face financial difficulties in the near future.

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Income Statement Q4 FY13 Q4 FY12
Net Sales ($mil)171.99169.78
EBITDA ($mil)123.94124.73
EBIT ($mil)81.5282.9
Net Income ($mil)68.2358.98


Balance Sheet Q4 FY13 Q4 FY12
Cash & Equiv. ($mil)509.23445.56
Total Assets ($mil)5947.765650.85
Total Debt ($mil)3853.223742.54
Equity ($mil)1571.711218.57


Profitability Q4 FY13 Q4 FY12
Gross Profit Margin76.3477.02
EBITDA Margin72.0673.46
Operating Margin47.448.83
Sales Turnover0.110.12
Return on Assets5.022.14
Return on Equity13.944.32
Debt Q4 FY13 Q4 FY12
Current Ratio1.152.64
Debt/Capital0.710.75
Interest Expense16.7820.46
Interest Coverage4.864.05


Share Data Q4 FY13 Q4 FY12
Shares outstanding (mil)69.2163.04
Div / share0.310.25
EPS0.640.59
Book value / share22.7119.33
Institutional Own % n/a n/a
Avg Daily Volume199231.0300177.0

Valuation


HOLD. SEASPAN CORP's P/E ratio indicates a significant discount compared to an average of 18.66 for the Marine industry and a significant discount compared to the S&P 500 average of 18.29. Conducting a second comparison, its price-to-book ratio of 0.94 indicates a significant discount versus the S&P 500 average of 2.52 and a discount versus the industry average of 1.75. The price-to-sales ratio is well above the S&P 500 average, but well below the industry average. Upon assessment of these and other key valuation criteria, SEASPAN CORP proves to trade at a discount to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
SSW 7.27 Peers 18.66   SSW 4.50 Peers 12.41

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

SSW is trading at a significant discount to its peers.

 

Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

SSW is trading at a significant discount to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
SSW 14.15 Peers 20.05   SSW NM Peers 1.61

Average. An average price-to-projected earnings ratio can signify an industry neutral stock price and average future growth expectations.

SSW is trading at a valuation on par with its peers.

 

Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

SSW's negative PEG ratio makes this valuation measure meaningless.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
SSW 0.94 Peers 1.75   SSW 302.73 Peers -30.15

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

SSW is trading at a significant discount to its peers.

 

Higher. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

SSW is expected to have an earnings growth rate that significantly exceeds its peers.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
SSW 2.18 Peers 2.90   SSW 2.46 Peers 1.93

Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

SSW is trading at a discount to its industry on this measurement.

 

Higher. A sales growth rate that exceeds the industry implies that a company is gaining market share.

SSW has a sales growth rate that significantly exceeds its peers.

 

 

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