Neptune Marine Services Ltd. provides services and engineered solutions to the oil and gas, marine, and renewable energy industries. It operates through the Offshore Services and Engineering Services divisions. The Offshore Services division provides a range of specialized services, including commercial diving, inspection, repair and maintenance support, difficult and confined area access via rope access, tension netting and modular platforms, remotely operated vehicles, subsea pipeline, cable stabilization and protection, hydro graphic surveying, positioning and geophysical support, and project management. The Engineering Services division offers subsea and pipeline engineering, fabrication, assembly and testing, refurbishment, installation, maintenance, the patented NEPSYS dry underwater welding technology, and project management. The company was founded on July 24, 2003 and is headquartered in Welshpool, Australia.
Market Price at 20-11-2017
Price to Earnings Ratio
Return on Equity (ROE)
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CMI Limited (CMI) has rejoined the A1 club. Competitor ARB Corp (ARP) is also rated A1 by Skaffold. Whilst ARB’s business model is focused on the manufacture and distribution of 4x4 accessories for recreational 4WD vehicles, CMI’s expands beyond 4WD accessories to include specialist cabling and electrical products for a range of industry sectors that includes light commercial and heavy transport vehicles. Unfortunately both companies are trading at prices higher than Skaffold’s intrinsic value estimate.
The biggest news this week is Harvey Norman’s decline from A3 to A4.
The company reported earnings that were 6 cents lower that the 2011 results. Return on equity also fell and debt increased to $779m, equating to a Net Debt / Equity ratio of 26%. In 2011 HVN’s Reported Net Profit After Taxes was $252.255m. This year reported NPAT fell to $172.411m.
HVN’s intrinsic value has been on a downward trend since 2006. Can management reignite HVN?