Seaspan Corp

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SSW : NYSE : Services
$14.62 -0.08 | -0.51%
Today's Range: 14.55 - 14.68
Avg. Daily Volume: 419,500
08/25/16 - 3:59 PM ET

Financial Analysis


SEASPAN CORP's gross profit margin for the second quarter of its fiscal year 2016 has decreased when compared to the same period a year ago. Even though sales increased, the net income has decreased, representing a decrease to the bottom line. SEASPAN CORP has average liquidity. Currently, the Quick Ratio is 1.23 which shows that technically this company has the ability to cover short-term cash needs. The company's liquidity has increased from the same period last year.

During the same period, stockholders' equity ("net worth") has remained virtually unchanged only decreasing by 3.82% 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 Q2 FY16 Q2 FY15
Net Sales ($mil)224.31199.15
EBITDA ($mil)137.96131.74
EBIT ($mil)86.9481.25
Net Income ($mil)36.4381.36


Balance Sheet Q2 FY16 Q2 FY15
Cash & Equiv. ($mil)349.02277.23
Total Assets ($mil)6080.096073.3
Total Debt ($mil)3702.543705.37
Equity ($mil)1729.151797.99


Profitability Q2 FY16 Q2 FY15
Gross Profit Margin65.5469.35
EBITDA Margin61.566.14
Operating Margin38.7640.8
Sales Turnover0.140.13
Return on Assets2.33.22
Return on Equity4.997.83
Debt Q2 FY16 Q2 FY15
Current Ratio1.321.3
Debt/Capital0.680.67
Interest Expense32.4330.55
Interest Coverage2.682.66


Share Data Q2 FY16 Q2 FY15
Shares outstanding (mil)105.3599.13
Div / share0.380.38
EPS0.230.68
Book value / share16.4118.14
Institutional Own % n/a n/a
Avg Daily Volume534270.0308668.0

Valuation


HOLD. This stock's P/E ratio indicates a premium compared to an average of 15.22 for the Marine industry and a discount compared to the S&P 500 average of 25.30. Conducting a second comparison, its price-to-book ratio of 0.93 indicates a significant discount versus the S&P 500 average of 2.83 and a discount versus the industry average of 1.28. The current price-to-sales ratio is similar to the S&P 500 average, but it is above the industry average, indicating a premium. The valuation analysis reveals that, SEASPAN CORP seems to be trading at a premium 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 17.60 Peers 15.22   SSW 4.50 Peers 5.29

Premium. A higher P/E ratio than its peers can signify a more expensive stock or higher growth expectations.

SSW is trading at a premium 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 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 13.02 Peers 16.00   SSW NM Peers 0.06

Discount. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth expectations.

SSW is trading at a discount to 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 0.93 Peers 1.28   SSW -39.59 Peers -35.18

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.

 

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

However, SSW is expected to significantly trail its peers on the basis of its earnings growth rate.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
SSW 1.85 Peers 1.39   SSW 14.17 Peers 3.22

Premium. 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 significant premium to its industry.

 

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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