Braemar Shipping Services (BMS)

Company name:	Braemar Shipping Services Plc
EPIC:	BMS	Trading Currency:	GBX
Market Sector:	SQQ3	ISIN:	GB0000600931
Market Segment:	SSQ3	Share Type:	DE
WWW Address:	http://www.braemarseascope.com	Description:	ORD 10P
Industry Sector:	INDUSTRIAL TRANSPORTATION

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
148.50	0.0 [0.00]	145.00	152.00	148.50	148.50	148.00	968
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
47.65	32.09	-0.02	12.88	5.00	11.53	3.37	226.00 - 92.50

Braemar Shipping Services Key Figures

(at previous day's close)
Market Cap.	47.65	m
Shares In Issue	32.09	m
Prev. Close	148.50
PE Ratio	11.53
Dividend Yield	3.37	%
EPS - basic	12.88	p
Dividend PS	5.00	p
Dividend Cover	2.58
Cash Flow PS	31.95	p
Return On Equity (ROE)	6.99	%
Operating Margin	4.02	%
PEG Factor	0.10
EPS Growth Rate	114.53	%
Dividends PS Growth Rate	-66.67	%
Net Debt	96.75	m
Gross Gearing	68.58	%
Quick Assets	74.38	m
Net Working Capital	-29.41	m
Intangibles / Fixed Assets	79.39	%
Turnover PS	376.47	p
Pre-Tax Profit PS	15.14	p
Retained Profit PS	-1.91	p
Cash PS	89.60	p
Net Cash PS	-233.88	p
Net Tangible Asset Value PS *	-89.56	p
Net Asset Value PS	179.16	p
Spread	7.00 (4.61%)
* Calculation based on Ordinary Capital figure as contained in last annual report, and the most recent shares in issue figure. Therefore the ratio might be exposed to inaccuracies.

Braemar Shipping Services Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	149.50	138.00
4 weeks	153.50	119.00
12 weeks	170.00	119.00
1 year	226.00	92.50

Share Price Chart (5 years)

Braemar Shipping Services Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	138.00	10.50	7.61	138.00	0.04		147.74
4 weeks	134.00	14.50	10.82	119.00	0.06		136.12
12 weeks	136.00	12.50	9.19	119.00	0.05		147.39
26 weeks	101.00	47.50	47.03	100.50	0.06		135.14
1 year	185.00	-36.50	-19.73	92.50	0.05		136.89
3 years	297.00	-148.50	-50.00	92.50	0.04		188.50
5 years	441.50	-293.00	-66.36	92.50	0.04		240.35
† periods calculated are whole weeks rather than calendar months

Braemar Shipping Services Key Management Ratios

Braemar Shipping Services Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	13.34
PE Ratio	11.53
Tobin's Q Ratio	0.29
Tobin's Q Ratio (excl. intangibles)	0.62
Dividend Yield	3.37	%
Market-to-Book Ratio	0.83
Price-to-Pre-Tax Profit PS	9.81
Price-to-Retained Profit PS	-77.60
Price-to-Cash Flow PS	4.65
Price-to-Sales PS	0.39
Price-to-Net Tangible Asset Value PS	-1.66
Price-to-Cash PS	1.66
Net Working Capital PS	-91.67
Price Pct to Working Capital PS	-1.62	%
Earnings Yield	8.67	%
Average PE	14.90
Years in average	2
PE to PE average	77.37	%

Braemar Shipping Services Financial Ratios

(Leverage Ratios)
Debt Ratio	27.41	%
Debt-to-Equity Ratio	0.38
Debt-to-Equity Ratio (excl. Intgbl)	-0.76
Debt-to-Equity Market Value	0.46
Net Gearing	52.87	%
Net Gearing (excl. Intangibles)	99.99	%
Gross Gearing	68.58	%
Gross Gearing (excl. Intangibles)	129.70	%
Gearing Under 1 Year	56.72	%
Gearing Under 1 Year (excl. Intgbl)	107.26	%
Assets/Equity	3.18
Cash/Equity	50.01
(Liquidity Ratios)
Net Working Capital to Total Assets	-16.07	%
Current Ratio	0.72
Quick Ratio (Acid Test)	0.72
Liquidity Ratio	0.28
Cash & Equiv/Current Assets	38.65	%
(Solvency Ratios)
Enterprise Value	40.61	m
CFO/Sales	0.08
CFO/Attributable Profit	2.55
CFO/Assets	0.06
CFO/Debt	0.08
Total Debt/Equity Market Value	2.63
Total Debt/Sales	1.04
Total Debt/Pre-Tax Profit	25.83
Total Debt	125.50	m
Total Debt/Net Current Assets	-4.27	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	-	%
5 yr Compound Earnings Growth	-	%
10 yr Compound Earnings Growth	-	%
Earn drops > 5% in 10yrs	11

Beta (60-Mnth)	Beta (36-Mnth)
-0.0211	0.1282

Braemar Shipping Services Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	6.13	%
Return On Assets (ROA)	2.46	%
Net Profit Margin	3.32	%
Assets Turnover	0.74
Return On Equity (ROE)	6.99	%
Return On Investment (ROI)	5.33	%
Dividend Payout Ratio	38.82	%
Plowback Ratio	61.18	%
Growth from Plowback Ratio	4.24	%
Net Income Of Revenues	-0.51	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	2.09
Fixed Assets Turnover	1.22
Current Assets Turnover	1.89
Net Working Capital Turnover
Inventory Turnover	-
(Other Operating Ratios)
Total Assets-to-Sales	1.35
Debtors-to-Sales	35.04	%
Debt Collection Period	127.91	Days

Braemar Shipping Services Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
24 Oct 2019	Interim	GBX	5.00	01/03/2019	29/02/2020	31/10/2019	01/11/2019	13/12/2019	5.00
20 May 2019	Final	GBX	10.00	28/02/2018	28/02/2019	20/06/2019	21/06/2019	26/07/2019	15.00
25 Oct 2018	Interim	GBX	5.00	03/03/2018	31/08/2018	01/11/2018	02/11/2018	14/12/2018	-
15 May 2018	Final	GBX	10.00	28/02/2017	28/02/2018	21/06/2018	22/06/2018	27/07/2018	15.00
23 Oct 2017	Interim	GBX	5.00	03/03/2017	31/08/2017	02/11/2017	03/11/2017	15/12/2017	-
10 May 2017	Final	GBX	5.00	28/02/2016	28/02/2017	29/06/2017	30/06/2017	28/07/2017	14.00
25 Oct 2016	Interim	GBX	9.00	02/03/2016	31/08/2016	17/11/2016	18/11/2016	16/12/2016	-
16 May 2016	Final	GBX	17.00	01/03/2015	29/02/2016	30/06/2016	01/07/2016	29/07/2016	26.00
28 Oct 2015	Interim	GBX	9.00	03/03/2015	31/08/2015	19/11/2015	20/11/2015	18/12/2015	-
19 May 2015	Final	GBX	17.00	28/02/2014	28/02/2015	02/07/2015	03/07/2015	31/07/2015	26.00
29 Oct 2014	Interim	GBX	9.00	03/03/2014	31/08/2014	13/11/2014	14/11/2014	12/12/2014	-
20 May 2014	Final	GBX	17.00	28/02/2013	28/02/2014	16/07/2014	18/07/2014	15/08/2014	26.00
29 Oct 2013	Interim	GBX	9.00	03/03/2013	31/08/2013	13/11/2013	15/11/2013	13/12/2013	-
14 May 2013	Final	GBX	17.00	28/02/2012	28/02/2013	28/06/2013	24/07/2013	14/12/2012	26.00
30 Oct 2012	Interim	GBX	9.00	02/03/2012	31/08/2012	14/11/2012	16/11/2012	14/12/2012	-
08 May 2012	Final	GBX	17.00	01/03/2011	29/02/2012	20/06/2012	22/06/2012	25/07/2012	26.00
25 Oct 2011	Interim	GBX	9.00	01/03/2011	29/02/2012	23/11/2011	25/11/2011	14/12/2011	-
09 May 2011	Final	GBX	17.00	28/02/2010	28/02/2011	29/06/2011	01/07/2011	27/07/2011	26.00
26 Oct 2010	Interim	GBX	9.00	28/02/2010	28/02/2011	17/11/2010	19/11/2010	14/12/2010	-
10 May 2010	Final	GBX	16.25	28/02/2009	28/02/2010	30/06/2010	02/07/2010	28/07/2010	25.00
27 Oct 2009	Interim	GBX	8.75	03/03/2009	31/08/2009	04/11/2009	06/11/2009	11/12/2009	-
12 May 2009	Final	GBX	15.50	28/02/2008	28/02/2009	01/07/2009	03/07/2009	28/07/2009	24.00
28 Oct 2008	Interim	GBX	8.50	02/03/2008	31/08/2008	12/11/2008	14/11/2008	11/12/2008	-
07 May 2008	Final	GBX	15.00	28/02/2007	28/02/2008	25/06/2008	27/06/2008	25/07/2008	23.00
23 Oct 2007	Interim	GBX	8.00	03/03/2007	31/08/2007	07/11/2007	09/11/2007	11/12/2007	-
11 May 2007	Final	GBX	12.25	28/02/2006	28/02/2007	04/07/2007	06/07/2007	31/07/2007	19.00
26 Oct 2006	Interim	GBX	6.75	03/03/2006	31/08/2006	15/11/2006	17/11/2006	13/12/2006	-
04 May 2006	Final	GBX	11.50	28/02/2005	28/02/2006	28/06/2006	30/06/2006	27/07/2006	18.00
25 Oct 2005	Interim	GBX	6.50	03/03/2005	31/08/2005	16/11/2005	18/11/2005	13/12/2005	-
17 May 2005	Final	GBX	10.00	28/02/2004	28/02/2005	29/06/2005	01/07/2005	28/07/2005	16.00
22 Nov 2004	Interim	GBX	6.00	02/03/2004	31/08/2004	01/12/2004	03/12/2004	23/12/2004	-
05 May 2004	Final	GBX	8.00	28/02/2003	28/02/2004	30/06/2004	02/07/2004	30/07/2004	13.00
21 Nov 2003	Interim	GBX	5.00	03/03/2003	31/08/2003	03/12/2003	05/12/2003	23/12/2003	-
07 May 2003	Final	GBX	7.00	28/02/2002	28/02/2003	02/07/2003	04/07/2003	31/07/2003	12.00
25 Nov 2002	Interim	GBX	5.00	03/03/2002	31/08/2002	04/12/2002	06/12/2002	20/12/2002	-
31 May 2002	Final	GBX	7.00	28/02/2001	28/02/2002	03/07/2002	05/07/2002	31/07/2002	12.00
20 Sep 2001	Interim	GBX	5.00	30/12/2000	30/06/2001	17/10/2001	19/10/2001	15/11/2001	-
07 Mar 2001	Final	GBX	10.00	31/12/1999	31/12/2000	02/05/2001	04/05/2001	31/05/2001	15.00
28 Sep 2000	Interim	GBX	5.00	30/12/1999	30/06/2000	09/10/2000	13/10/2000	10/11/2000	-
13 Apr 2000	Final	GBX	10.00	31/12/1998	31/12/1999	25/04/2000	02/05/2000	23/06/2000	15.00
07 Oct 1999	Interim	GBX	5.00	30/12/1998	30/06/1999	18/10/1999	22/10/1999	19/11/1999	-
15 Apr 1999	Final	GBX	10.00	31/12/1997	31/12/1998	26/04/1999	30/04/1999	28/05/1999	15.00
15 Oct 1998	Interim	GBX	5.00	30/12/1997	30/06/1998	26/10/1998	30/10/1998	20/11/1998	-
16 Apr 1998	Final	GBX	3.00	31/12/1996	31/12/1997	27/04/1998	01/05/1998	29/05/1998	3.00

Braemar Shipping Services Fundamentals

	28 Feb 2017 (GBP)		28 Feb 2018 (GBP)		28 Feb 2019 (GBP)		29 Feb 2020 (GBP)
turnover	139.84	100.00%	133.41	100.00%	117.85	100.00%	120.79	100.00%	m
pre tax profit	-0.64	-0.46%	-1.51	-1.13%	-3.14	-2.66%	4.86	4.02%	m
attributable profit	-0.49	-0.35%	-2.89	-2.17%	-27.37	-23.22%	4.02	3.32%	m
retained profit	-8.35	-5.97%	-5.87	-4.40%	-31.98	-27.14%	-0.61	-0.51%	m
eps - basic (p)	-1.66		-9.70		-88.63		12.88
eps - diluted (p)	-1.66		-9.70		-88.63		11.64
dividends per share	14.00		15.00		15.00		5.00

Braemar Shipping Services Balance Sheet

	28 Feb 2017 (GBP)		28 Feb 2018 (GBP)		28 Feb 2019 (GBP)		29 Feb 2020 (GBP)


	28 Feb 2017 (GBP)		28 Feb 2018 (GBP)		28 Feb 2019 (GBP)		29 Feb 2020 (GBP)
ASSETS
fixed assets	4.56	2.95%	3.32	2.06%	1.98	1.38%	11.93	6.52%	m
intangibles	80.02	51.70%	92.35	57.18%	86.04	60.16%	86.22	47.12%	m
fixed investments	1.36	0.88%	1.52	0.94%	1.77	1.24%	10.46	5.72%	m
current assets - other	-	-%	2.87	1.77%	10.61	7.42%	-	-%	m
stocks	-	-%	-	-%	-	-%	-	-%	m
debtors	61.17	39.52%	56.03	34.69%	39.03	27.29%	45.63	24.93%	m
cash & securities	7.67	4.96%	5.42	3.36%	3.59	2.51%	28.75	15.71%	m

TOTAL	154.78	100%	161.51	100%	143.02	100%	182.99	100%	m

LIABILITIES
creditors - short	49.18	31.77%	52.65	32.60%	71.49	49.99%	103.79	56.72%	m
creditors - long	5.43	3.51%	15.20	9.41%	13.18	9.21%	21.71	11.87%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	54.61	35.28%	67.85	42.01%	84.67	59.20%	125.50	68.58%	m

EQUITY
ord cap, reserves	100.17	64.72%	93.66	57.99%	58.35	40.80%	57.49	31.42%	m
prefs, minorities	-	-%	-	-%	-	-%	-	-%	m

TOTAL	100.17	64.72%	93.66	57.99%	58.35	40.80%	57.49	31.42%	m

OTHER
NAV Basic	-		-		-		-
NAV Diluted	-		-		-		-

Braemar Shipping Services Cash Flow Statement

	28 Feb 2017 (GBP)	28 Feb 2018 (GBP)	28 Feb 2019 (GBP)	29 Feb 2020 (GBP)
Operating CF	4.67	3.06	6.14	10.25	m
Pre-Financing CF	5.43	-3.76	3.75	3.50	m
Retained CF	-4.55	-0.55	3.16	1.56	m

Braemar Shipping Services Brokers

Name	Activity	Type	Mnemonic	Code
Arbuthnot Securities Limited	Market Maker(MME)	Broker/Dealer	ARBT	ALESGB31MKT
Evolution Securities Limited	Market Maker(MME)	Broker/Dealer	EVO	EVBGGB21MMT
Merrill Lynch International	Market Maker(MME)	Broker/Dealer	MLSB	SNCSGB2LBIC
Winterflood Securities Ltd	Market Maker(MME)	Broker/Dealer	WINS	WNTSGB2LBIC