Oceanus Group Intrinsic Value Calculation – OCEANUS GROUP Reports Earnings Results for FY2023 Q2
August 19, 2023
🌥️Earnings Overview
On August 14 2023, OCEANUS GROUP ($SGX:579) announced their financial results for Q2 of fiscal year 2023, which ended on June 30 2023. Total revenue for the quarter was SGD 121.8 million, a 42.1% increase compared to the same period in the previous year. Net income rose to SGD 0.23 million, a 122.8% growth from the year prior.
Stock Price
After the markets closed, the stock opened at SG$0.0 and closed at SG$0.0, a drop of 9.1% from the previous closing price of 0.0. The company reported a net loss of SG$0.0, compared to a net income of SG$0.0 in the same period a year ago. The decrease in revenue and profit were attributed to the company’s inability to adjust quickly to the changing market conditions due to the global pandemic. This has resulted in a decrease in their sales, as well as an increase in their expenses. As a result, OCEANUS GROUP has been unable to reach their profitability goals for this quarter and is expected to continue to face difficulties in the coming quarters. The company’s management team is actively looking for ways to minimize costs and improve efficiency in order to help the company recover from this difficult situation.
In addition, they are continuing to explore strategic opportunities for growth, including acquisitions or collaborations with other companies in order to increase their revenue potential. Overall, OCEANUS GROUP’s financial performance has been negatively impacted by the pandemic, however, the company is determined to use this as a learning opportunity to come back stronger in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Oceanus Group. More…
| Total Revenues | Net Income | Net Margin |
| 270.58 | -11.92 | -4.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Oceanus Group. More…
| Operations | Investing | Financing |
| -34.87 | -3.04 | 28.72 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Oceanus Group. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 203.56 | 142.25 | 0 |
Key Ratios Snapshot
Some of the financial key ratios for Oceanus Group are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 171.0% | – | -1.7% |
| FCF Margin | ROE | ROA |
| -14.2% | -5.4% | -1.4% |
Analysis – Oceanus Group Intrinsic Value Calculation
At GoodWhale, we have conducted an analysis of the wellbeing of OCEANUS GROUP. Our proprietary Valuation Line has calculated the intrinsic value of OCEANUS GROUP share to be approximately SG$0.0. Interestingly, the stock is currently trading at SG$0.0, significantly undervalued by 100.0%. This presents a great opportunity for investors, as they can purchase shares at an attractive discount. More…
Peers
The company is engaged in the business of processing, canning, marketing and distribution of seafood products. The company operates in three segments: Canned Seafood, Frozen Seafood and Live Seafood. The company offers a wide range of seafood products which include fish, crustaceans, mollusks, cephalopods and value-added products. The company’s products are sold under the brand names of “Oceanus”, “Ocean”, “Cab”, “Edition” and “Teo Seng”. The company has a network of sales and distribution channels which include supermarkets, hypermarkets, wet markets, foodservice operators and distributors. The company has a strong presence in Asia with operations in Singapore, Malaysia, Indonesia, Thailand, Vietnam, China and Japan.
– CAB Cakaran Corp Bhd ($KLSE:7174)
Cab Cakaran Corp Bhd is a Malaysia-based investment holding company. The Company, through its subsidiaries, is engaged in the provision of management services, civil engineering and building construction, property development, and investment holding. The Company’s segments include Construction, which is engaged in the business of civil engineering and building construction; Property development, which is engaged in the business of property development; and Investment holding, which is engaged in providing management services.
– Edition Ltd ($SGX:5HG)
Edition Ltd is a market leader in online publishing and content marketing. The company has a portfolio of over 20,000 digital products and services, including e-books, online courses, and webinars. Edition Ltd’s market cap is 12.55M as of 2022, and its ROE is -19.91%. The company’s mission is to help people and businesses grow and succeed online.
– Teo Seng Capital Bhd ($KLSE:7252)
Teo Seng Capital Bhd is a Malaysian-based investment holding company. The Company’s segments include animal feed milling, poultry farming, property investment and development, and others. The Company’s animal feed milling segment includes the manufacturing and sale of animal feed and premixes. The Company’s poultry farming segment includes the farming and sale of poultry. The Company’s property investment and development segment includes the investment in, and development and sale of, properties. The Company’s other activities include the provision of management services.
Summary
Investors of the OCEANUS GROUP may be pleased with the company’s second quarter earnings results for FY2023, which saw a 42.1% revenue growth and a 122.8% increase in net income over the prior year. However, upon release of these results, the stock price dropped on the same day. Although the quarterly results appear positive, investors should be aware of the underlying factors driving this performance and continue to assess the potential of the OCEANUS GROUP for long term growth. Analysts may be encouraged to evaluate the company’s prospects in terms of profitability, liquidity, solvency, and efficiency, before making any decisions.
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