ENH Stock Analysis: SED Energy Holdings | OL
Oil & Gas Equipment & Services | OL, Norway | Market Cap: 4.717m NOK | 12M Return: -16.6% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 31.1M
Qual. Beats: -1
Rev. Trend: 96.2%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
SED Energy Holdings Plc (ENH) is a Cyprus-based oilfield services company operating across Southeast Asia, Thailand, Myanmar, and the United States. It works through two segments: Energy Drilling, which provides tender-assisted drilling services, and Seabird Exploration, which delivers marine seismic data acquisition, source vessel operations, and integrated seismic solutions for the oil and gas industry. The company also owns and operates ocean bottom node (OBN) vessels, a method of seismic surveying used to image subsurface geology for exploration and reservoir monitoring.
Tender-assisted drilling rigs are typically deployed in harsh-environment or deepwater locations, where they are mounted to a fixed platform rather than operating as standalone floaters. Companies in the oil & gas equipment and services sector generally derive revenue from day rates, project-based contracts, and vessel utilization, with demand closely tied to upstream exploration and production spending by oil and gas operators.
- Southeast Asia tender rig utilization drives Energy Drilling segment revenue
- Seabird Exploration seismic vessel demand sensitive to oil price volatility
- Myanmar political instability threatens Southeast Asia drilling contract pipeline
| Net Income: 67.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.20 > 0.02 and ΔFCF/TA 11.86 > 1.0 |
| NWC/Revenue: 20.44% < 20% (prev 41.62%; Δ -21.18% < -1%) |
| CFO/TA 0.42 > 3% & CFO 194.8m > Net Income 67.7m |
| Net Debt (-30.9m) to EBITDA (133.7m): -0.23 < 3 |
| Current Ratio: 1.66 > 1.5 & < 3 |
| Outstanding Shares: last quarter (731.3m) vs 12m ago 0.73% < -2% |
| Gross Margin: 55.18% > 18% (prev 61.72%; Δ -6.54% > 0.5%) |
| Asset Turnover: 52.19% > 50% (prev 25.20%; Δ 26.99% > 0%) |
| Interest Coverage Ratio: 11.34 > 6 (EBIT TTM 91.1m / Interest Expense TTM 8.04m) |
| A: 0.11 (Total Current Assets 129.8m - Total Current Liabilities 78.0m) / Total Assets 468.6m |
| B: 0.02 (Retained Earnings 7.67m / Total Assets 468.6m) |
| C: 0.19 (EBIT TTM 91.1m / Avg Total Assets 485.0m) |
| D: 2.48 (Book Value of Equity 334.1m / Total Liabilities 134.5m) |
| Altman-Z'' = 4.65 = AA |
| DSRI: 0.85 (Receivables 39.3m/23.2m, Revenue 253.1m/126.3m) |
| GMI: 1.12 (GM 61.72% / 55.18%) |
| AQI: 1.14 (AQ_t 0.03 / AQ_t-1 0.03) |
| SGI: 2.00 (Revenue 253.1m / 126.3m) |
| TATA: -0.27 (NI 67.7m - CFO 194.8m) / TA 468.6m) |
| Beneish M = -2.27 (Cap -4..+1) = BBB |
As of September 27, 2026, the stock is trading at NOK 6.30 with a total of 2,966,774 shares traded. Over the past week, the price has changed by -16.45%, over one month by -20.95%, over three months by -17.52% and over the past year by -16.62%.
Current recommended Stop Loss: 5.90 (which is 6.3% or 1.5 ATR below the current price).
SED Energy Holdings has no consensus analysts rating.
Market Cap USD = 495.9m (4.72b NOK * 0.10513 NOK.USD)
P/E Trailing = 6.8617
P/E Forward = 8.8106
P/S = 18.6334
P/B = 1.7181
Revenue TTM = 253.1m USD
EBIT TTM = 91.1m USD
EBITDA TTM = 133.7m USD
Long Term Debt = 52.9m USD (from longTermDebt, last quarter)
Short Term Debt = 8.24m USD (from shortLongTermDebt, last quarter)
Debt = 8.52m USD (Leases only: 8.52m)
Net Debt = -30.9m USD (calculated: Debt 8.52m - CCE 39.4m)
Enterprise Value = 464.9m USD (495.9m + Debt 8.52m - CCE 39.4m)
Interest Coverage Ratio = 11.34 (Ebit TTM 91.1m / Interest Expense TTM 8.04m)
EV/FCF = 4.84x (Enterprise Value 464.9m / FCF TTM 96.0m)
FCF Yield = 20.66% (FCF TTM 96.0m / Enterprise Value 464.9m)
FCF Margin = 37.94% (FCF TTM 96.0m / Revenue TTM 253.1m)
Net Margin = 26.74% (Net Income TTM 67.7m / Revenue TTM 253.1m)
Gross Margin = 55.18% ((Revenue TTM 253.1m - Cost of Revenue TTM 113.4m) / Revenue TTM)
Gross Margin QoQ = 50.36% (prev 47.06%)
Tobins Q-Ratio = 0.99 (Enterprise Value 464.9m / Total Assets 468.6m)
Interest Expense / Debt = 94.32% (Interest Expense 8.04m / Debt 8.52m)
Taxrate = 19.25% (16.1m / 83.8m)
NOPAT = 73.6m (EBIT 91.1m * (1 - 19.25%))
Current Ratio = 1.66 (Total Current Assets 129.8m / Total Current Liabilities 78.0m)
Debt / Equity = 0.03 (Debt 8.52m / totalStockholderEquity, last quarter 334.1m)
Debt / EBITDA = -0.23 (Net Debt -30.9m / EBITDA 133.7m)
Debt / FCF = -0.32 (Net Debt -30.9m / FCF TTM 96.0m)
Total Stockholder Equity = 335.8m (last 4 quarters mean from totalStockholderEquity)
RoA = 13.96% (Net Income 67.7m / Total Assets 468.6m)
RoE = 20.16% (Net Income TTM 67.7m / Total Stockholder Equity 335.8m)
RoCE = 23.43% (EBIT 91.1m / Capital Employed (Equity 335.8m + L.T.Debt 52.9m))
RoIC = 19.46% (NOPAT 73.6m / Invested Capital 378.0m)
WACC = 7.87% (E(495.9m)/V(504.4m) * Re(8.01%) + (debt cost/tax rate unavailable))
Discount Rate = 8.01% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 0.0 | Cagr: 0.0%
[DCF] Terminal Value 77.97% ; FCFF base≈74.9m ; Y1≈85.9m ; Y5≈126.4m
[DCF] Fair Price = 3.10 (EV 1.90b - Net Debt -30.9m = Equity 1.93b / Shares 623.2m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -2.66 | # QB: -1
Revenue Correlation: 96.23 | Revenue CAGR: 147.7% | SUE: 0.75 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.27 | Chg30d=-23.07% | Revisions=-25% | Analysts=3
EPS current Year (2026-12-31): EPS=1.13 | Chg30d=-10.61% | Revisions=-40% | GrowthEPS=+68.5% | GrowthRev=+29.0%
EPS next Year (2027-12-31): EPS=0.76 | Chg30d=-27.12% | Revisions=+0% | GrowthEPS=-32.9% | GrowthRev=-13.2%
[Analyst] Revisions Ratio: -38% (up=1, down=4)