Seaspan Corp

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SSW : NYSE : Services
$5.73 | %
Today's Range: 5.64 - 5.91
Avg. Daily Volume: 1207300.0
05/26/17 - 4:02 PM ET

Financial Analysis


SEASPAN CORP's gross profit margin for the first quarter of its fiscal year 2017 has significantly decreased when compared to the same period a year ago. Even though sales decreased, the net income has increased. SEASPAN CORP has weak liquidity. Currently, the Quick Ratio is 0.71 which shows a lack of ability to cover short-term cash needs. The company's liquidity has decreased from the same period last year, indicating deteriorating cash flow.

At the same time, stockholders' equity ("net worth") has remained virtually unchanged only increasing by 1.71% from the same quarter last year. Overall, the key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the future.

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Income Statement Q1 FY17 Q1 FY16
Net Sales ($mil)201.32215.52
EBITDA ($mil)0.0140.84
EBIT ($mil)71.7785.14
Net Income ($mil)40.027.13


Balance Sheet Q1 FY17 Q1 FY16
Cash & Equiv. ($mil)295.75260.61
Total Assets ($mil)5544.556100.72
Total Debt ($mil)3272.23746.36
Equity ($mil)1758.851729.13


Profitability Q1 FY17 Q1 FY16
Gross Profit Margin39.3768.96
EBITDA Margin0.065.34
Operating Margin35.6539.5
Sales Turnover0.160.14
Return on Assets-1.913.03
Return on Equity-9.367.56
Debt Q1 FY17 Q1 FY16
Current Ratio0.81.3
Debt/Capital0.650.68
Interest Expense0.032.01
Interest Coverage0.02.66


Share Data Q1 FY17 Q1 FY16
Shares outstanding (mil)105.7298.27
Div / share0.380.38
EPS0.22-0.06
Book value / share16.6417.6
Institutional Own % n/a n/a
Avg Daily Volume1185362.01039173.0

Valuation


SELL. The current P/E ratio is negative, which has no meaningful value in the assessment of premium or discount valuation, it simply displays that the company has negative earnings. Conducting a second comparison, its price-to-book ratio of 0.34 indicates a significant discount versus the S&P 500 average of 3.00 and a discount versus the industry average of 0.88. The price-to-sales ratio is well below both the S&P 500 average and the industry average, indicating a discount. After reviewing 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 NM Peers 22.70   SSW 1.98 Peers 5.37

Neutral. The absence of a valid P/E ratio happens when a stock can not be valued on the basis of a negative stream of earnings.

SSW's P/E is negative making this valuation measure meaningless.

 

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 5.58 Peers 23.89   SSW NA Peers 0.83

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 significant 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.

Ratio not available.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
SSW 0.34 Peers 0.88   SSW -217.42 Peers -44.97

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 0.70 Peers 1.71   SSW 2.09 Peers 0.91

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 significant 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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