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1. Company Snapshot

1.a. Company Description

SEACOR Marine Holdings Inc.provides marine and support transportation services to offshore oil, natural gas, and windfarm facilities worldwide.Its offshore support and specialty vessels deliver cargo and personnel to offshore installations, including wind farms; handle anchors and mooring equipment required to tether rigs to the seabed; assist in placing them on location and moving them between regions; provide construction, well work-over, maintenance, and decommissioning support; and carry and launch equipment used underwater in drilling and well installation, maintenance, inspection, and repair, as well as offer accommodations for technicians and specialists, safety support, and emergency response services.


As of December 31, 2021, the company operated a fleet of 81 support and specialty vessels, of which 60 were owned or leased-in, 20 were joint-ventured, and 1 was managed on behalf of unaffiliated third parties.It serves integrated oil companies, large independent oil and natural gas exploration and production companies, and emerging independent companies, as well as windfarm operations and installation contractors.The company was founded in 1989 and is headquartered in Houston, Texas.

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1.b. Last Insights on SMHI

The recent performance of SEACOR Marine Holdings Inc. was negatively impacted by the sale of its two remaining AHTS vessels, which may have resulted in a loss of revenue and operational capacity. Additionally, the company's decision to use the proceeds from the sale to construct two large PSVs in China may have introduced new risks and uncertainties, particularly if the project is delayed or over budget. Furthermore, the company's debt level remains substantial, with $350 million in outstanding debt, which may limit its financial flexibility and ability to invest in new opportunities.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Seacor Marine (SMHI) Is Attractively Priced Despite Fast-paced Momentum

Nov -21

Source: zacks.com

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SEACOR Marine Publishes 2024-2025 Sustainability Report

Nov -13

Source: globenewswire.com

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Seacor Marine: Weak Quarter And Muted Near-Term Prospects - Hold

Nov -13

Source: seekingalpha.com

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Seacor Marine (SMHI) Q3 Earnings Surpass Estimates

Oct -29

Source: zacks.com

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SEACOR Marine Announces Third Quarter 2025 Results

Oct -29

Source: globenewswire.com

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SEACOR Marine Announces Strategic Sale of Vessels

Aug -07

Source: globenewswire.com

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Seacor (SMHI) Q2 Revenue Drops 13%

Aug -01

Source: fool.com

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Seacor Marine Holdings: Another Disappointing Quarter But Not All Is Bad - Hold

Jul -31

Source: seekingalpha.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (9.81%)

6. Segments

Time Charter

Expected Growth: 10%

SEACOR Marine Holdings Inc.'s 10% Time Charter growth driven by increasing offshore oil and gas exploration, rising demand for marine transportation services, and expansion into new markets. Additionally, the company's modern fleet and operational efficiency improvements contribute to revenue growth.

Other

Expected Growth: 8%

SEACOR Marine Holdings Inc.'s 8% growth is driven by increasing demand for offshore oil and gas services, expansion into new markets, and strategic acquisitions. Additionally, the company's focus on cost reduction and operational efficiencies has improved profitability, contributing to its growth momentum.

Bareboat Charter

Expected Growth: 11%

SEACOR Marine Holdings Inc.'s 11% growth in Bareboat Charter is driven by increasing demand for offshore oil and gas exploration, rising deepwater production, and growing need for specialized vessels. Additionally, the company's strategic fleet expansion, operational efficiencies, and strong customer relationships contribute to its growth momentum.

7. Detailed Products

Offshore Marine Services

SEACOR Marine Holdings Inc. provides offshore marine services, including transportation of personnel, cargo, and equipment to offshore oil and gas platforms, drilling rigs, and other installations.

Liner and Short-Sea Services

The company offers liner and short-sea services, which include the transportation of cargo, such as containers, project cargo, and breakbulk cargo, over short distances.

Wet Towage Services

SEACOR Marine Holdings Inc. provides wet towage services, which involve the towing of oil tankers, cargo ships, and other vessels.

Dry Docking and Repair Services

The company offers dry docking and repair services for vessels, including maintenance, repair, and upgrade services.

Logistics and Agency Services

SEACOR Marine Holdings Inc. provides logistics and agency services, including customs clearance, freight forwarding, and vessel agency services.

8. SEACOR Marine Holdings Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

SEACOR Marine Holdings Inc. operates in a niche market with limited substitutes, but the threat of substitutes is still present due to the availability of alternative transportation methods.

Bargaining Power Of Customers

SEACOR Marine Holdings Inc. has a diverse customer base, which reduces the bargaining power of individual customers. Additionally, the company's specialized services make it difficult for customers to switch to alternative providers.

Bargaining Power Of Suppliers

SEACOR Marine Holdings Inc. relies on a few key suppliers for its operations, which gives them some bargaining power. However, the company's size and diversified operations mitigate this risk to some extent.

Threat Of New Entrants

The threat of new entrants is low due to the high barriers to entry in the offshore marine services industry, including significant capital requirements and regulatory hurdles.

Intensity Of Rivalry

The offshore marine services industry is highly competitive, with several established players competing for market share. SEACOR Marine Holdings Inc. must continually innovate and improve its services to maintain its market position.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 45.92%
Debt Cost 3.95%
Equity Weight 54.08%
Equity Cost 10.24%
WACC 7.35%
Leverage 84.92%

11. Quality Control: SEACOR Marine Holdings Inc. passed 1 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Genco Shipping & Trading

A-Score: 6.1/10

Value: 4.7

Growth: 4.2

Quality: 5.2

Yield: 10.0

Momentum: 6.0

Volatility: 6.7

1-Year Total Return ->

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Stock-Card
Pangaea Logistics Solutions

A-Score: 5.2/10

Value: 7.4

Growth: 4.1

Quality: 4.2

Yield: 9.0

Momentum: 1.5

Volatility: 5.0

1-Year Total Return ->

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Stock-Card
Kirby

A-Score: 4.3/10

Value: 6.3

Growth: 6.1

Quality: 6.7

Yield: 0.0

Momentum: 1.0

Volatility: 5.7

1-Year Total Return ->

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Stock-Card
Twin Disc

A-Score: 4.2/10

Value: 6.1

Growth: 4.8

Quality: 3.6

Yield: 1.0

Momentum: 7.0

Volatility: 2.7

1-Year Total Return ->

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Stock-Card
VirTra

A-Score: 3.3/10

Value: 3.6

Growth: 5.9

Quality: 5.8

Yield: 0.0

Momentum: 2.5

Volatility: 1.7

1-Year Total Return ->

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Stock-Card
SEACOR Marine

A-Score: 2.8/10

Value: 7.9

Growth: 1.8

Quality: 3.2

Yield: 0.0

Momentum: 1.5

Volatility: 2.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

7.13$

Current Price

7.13$

Potential

-0.00%

Expected Cash-Flows