The Razor's Edge
2-Year Price History
Recent Price
(1/7/2009)
$15.18
52-Week Price
$8.90 - $41.62
Market Capitalization
$540.8 Million
Most Recent Dividend
$0.00
About InterOil Corp.
InterOil Corporation is considered to operate in the Basic Materials
sector. They specifically operate in the Oil & Gas Refining/Marketing
business segment contained within the Energy industry.
An energy company, through subsidiaries operates in four segments, Upstream-Exploration and Production; Midstream-Liquefaction and Refining; Downstream-Wholesale and Retail Distribution and Corporate segment engages in business development & improvement.
Ockham's Rating
Rating Specific Information Withheld
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IOC Revenue
For a long time, value investors have used the current share price relative to sales per share levels as an important valuation tool. We utilize a historical weighted average methodology that treats recent years more importantly in the calculation. When looking at IOC through this framework, we can see that our weighted average historical high and low Price to Sales per share ratios over the last 5 years are 1.95x and 0.77x respectively.
Utilizing this range we can see that IOC’s current Price to Sales per share ratio of 0.57x is significantly below its average levels historically. In fact, with a current price of $13.95, IOC is a full 59% below its average Price to Sales ratio at comparable sales levels. This is a rare occurrence and, when taken in context of the other areas of our analysis, can be a strong positive for our outlook for IOC.
IOC Cash Earnings
Cash (and the ability of a company to generate it) is a pivotal analysis at Ockham Research. With IOC, we have found that we don't have as many years of positive Cash Earnings as we would like in order to run an analysis. When a company like IOC has had several years of negative Cash Earnings mixed in with their positive years, it can be difficult to really get a good analysis of their potential. At Ockham, we always advise that Cash is key to any investment, so investors should consider the lack of positive years available as a signal that other types of analysis may need to be more heavily relied upon in IOC's case.
IOC Dividends
A positive Ockham rating does not require a company to pay out an inviting dividend or a dividend at all. However, we believe dividends provide a useful measure on a company's inherent expectations. While we do like to see companies with healthy and growing dividends, it is not appropriate for all companies, especially those focused on growth. We regard IOC as neutral in terms of dividends because they have no history of paying a dividend and continue to reinvest that money for growth purposes.
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