Mermaid Maritime PCL
SGX:DU4

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Mermaid Maritime PCL
SGX:DU4
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Price: 0.122 SGD -0.81% Market Closed
Market Cap: S$230.7m

EV/OCF

4.3
Current
49%
Cheaper
vs 3-y average of 8.5

Enterprise Value to Operating Cash Flow (EV/OCF) ratio compares a company`s total enterprise value to its operating cash flow. It shows how much investors are paying for each dollar of the company`s operating cash flow, including both equity and debt.

EV/OCF
4.3
=
Enterprise Value
S$258.2m
/
Operating Cash Flow
$46.1m

Enterprise Value to Operating Cash Flow (EV/OCF) ratio compares a company`s total enterprise value to its operating cash flow. It shows how much investors are paying for each dollar of the company`s operating cash flow, including both equity and debt.

EV/OCF
4.3
=
Enterprise Value
S$258.2m
/
Operating Cash Flow
$46.1m

Valuation Scenarios

Mermaid Maritime PCL is trading below its 3-year average

If EV/OCF returns to its 3-Year Average (8.5), the stock would be worth S$0.24 (97% upside from current price).

Statistics
Positive Scenarios
4/4
Maximum Downside
No Downside Scenarios
Maximum Upside
+190%
Average Upside
108%
Scenario EV/OCF Value Implied Price Upside/Downside
Current Multiple 4.3 S$0.12
0%
3-Year Average 8.5 S$0.24
+97%
5-Year Average 6.3 S$0.18
+46%
Industry Average 12.5 S$0.35
+190%
Country Average 8.5 S$0.24
+98%

Forward EV/OCF
Today’s price vs future operating cash flow

Not enough data available to calculate forward EV/OCF

Peer Comparison

All Multiples
EV/OCF
P/E
All Countries
Close
Market Cap EV/OCF P/E
TH
Mermaid Maritime PCL
SGX:DU4
230.7m SGD 4.3 25.2
US
Schlumberger NV
NYSE:SLB
81.9B USD 14 25.1
US
Baker Hughes Co
NASDAQ:BKR
63.7B USD 17.9 26.2
US
Halliburton Co
NYSE:HAL
33.1B USD 13.7 21.8
LU
Tenaris SA
MIL:TEN
27B EUR 11.3 16.6
UK
TechnipFMC PLC
NYSE:FTI
29B USD 16.4 31
CN
Yantai Jereh Oilfield Services Group Co Ltd
SZSE:002353
133.5B CNY 41.6 47.6
UK
Subsea 7 SA
OSE:SUBC
91.2B NOK 6.5 24
IT
Saipem SpA
MIL:SPM
8.2B EUR 5.2 17.7
FR
Technip Energies NV
PAR:TE
7B EUR 7.8 19.4
CN
Sinopec Oilfield Service Corp
SSE:600871
51.6B CNY 11.6 78.3

Market Distribution

Lower than 81% of companies in Thailand
Percentile
19th
Based on 353 companies
19th percentile
4.3
Low
0.2 — 6.1
Typical Range
6.1 — 12
High
12 —
Distribution Statistics
Thailand
Min 0.2
30th Percentile 6.1
Median 8.5
70th Percentile 12
Max 13 428

Mermaid Maritime PCL
Glance View

Market Cap
230.7m SGD
Industry
N/A

Mermaid Maritime Public Co., Ltd. engages in the provision of subsea engineering and drilling services. The company is headquartered in Bangkok, Bangkok Metropolis. The company went IPO on 2007-10-16. The firm provides Inspection, Repair and Maintenance service (IRM) and cable and flex lay services. The firm operates through two segments: Subsea group and Holding. The firm offers subsea services through a fleet, which includes Mermaid Endurer, Mermaid Asiana, Mermaid Commander, Mermaid Sapphire, Mermaid Challenger, Barge Resiliant and Millennium 3. The firm operates approximately eight subsea vessels, four of which are specialized dive support vessels (DSVs), six saturation diving systems, 17 air diving systems and 15 remotely operated vehicles (ROV) systems. The firm serves customers across South East Asia, India, China, the Mediterranean, West Africa, the Middle East and the North Sea. The company also offers offshore survey, positioning and subsea inspection solutions.

DU4 Intrinsic Value
0.217 SGD
Undervaluation 44%
Intrinsic Value
Price S$0.122
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