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Updated 1d ago
WEST logo

Western Bulk Chartering ASOB:WEST Stock Report

Market Cap NOK 800.1m
Updated 1d ago
Share Price
n/a
1Y74.4%
7D2.6%
1D4.4%
Portfolio Value
​
View

Western Bulk Chartering AS

OB:WEST Stock Report

Market Cap: NOK 800.1m

  • Company Overview
    • Valuation
    • Future Growth
    • Past Performance
    • Financial Health
    • Dividend
  • Management
  • Ownership
  • Other Information
  • Stock Community

Western Bulk Chartering (WEST) Stock Overview

Operates as a dry bulk shipping company. More details

WEST fundamental analysis
Snowflake Score
Valuation2/6
Future Growth3/6
Past Performance2/6
Financial Health6/6
Dividends2/6

Rewards

Trading at 43.9% below our estimate of its fair value

Earnings are forecast to grow 72.19% per year

Became profitable this year

Risk Analysis

Does not have a meaningful market cap (NOK800M)

Dividend of 4.82% is not well covered by free cash flows


WEST Community Fair Values

Create Narrative

See what others think this stock is worth. Follow their fair value or set your own to get alerts.

Analyst Price Targets

AN
AnalystConsensusTarget
23.3% overvalued intrinsic discount
AnalystConsensusTarget
•6mo ago

Tight Dry Bulk Utilization And Asset Light Co Investments Will Support Long Term Earnings Quality

22
0
1

Top Analyst Narratives

WEST logo
Western Bulk Chartering
23.3% overvalued intrinsic discount

Tight Dry Bulk Utilization And Asset Light Co Investments Will Support Long Term Earnings Quality

View narrative
AN
AnalystConsensusTarget
AnalystConsensusTarget
Published 11 Mar
Read Narrative
View all narratives

Western Bulk Chartering AS Competitors

Jinhui Shipping and Transportation

Symbol: OB:JIN
Market cap: NOK 762.6m

Klaveness Combination Carriers

Symbol: OB:KCC
Market cap: NOK 6.1b

Odfjell

Symbol: OB:ODF
Market cap: NOK 10.5b

MPC Container Ships

Symbol: OB:MPCC
Market cap: NOK 13.9b

Price History & Performance

Summary of share price highs, lows and changes for Western Bulk Chartering
Historical stock prices
Current Share PriceNOK 23.80
52 Week HighNOK 24.70
52 Week LowNOK 13.10
Beta0.94
1 Month Change11.22%
3 Month Change13.33%
1 Year Change74.36%
3 Year Change-11.69%
5 Year Change-31.81%
Change since IPO-41.23%

Recent News & Updates

Analysis Article • Aug 21

This Western Bulk Chartering AS (OB:WEST) Analyst Is Way More Bearish Than They Used To Be

One thing we could say about the covering analyst on Western Bulk Chartering AS ( OB:WEST ) - they aren't optimistic...
User avatar
New Narrative • Mar 11

Tight Dry Bulk Utilization And Asset Light Co Investments Will Support Long Term Earnings Quality

Catalysts About Western Bulk Chartering Western Bulk Chartering is an asset light dry bulk operator that matches vessels and cargoes to provide transport solutions and risk management for customers. What are the underlying business or industry changes driving this perspective?

Recent updates

Analysis Article • Aug 21

This Western Bulk Chartering AS (OB:WEST) Analyst Is Way More Bearish Than They Used To Be

One thing we could say about the covering analyst on Western Bulk Chartering AS ( OB:WEST ) - they aren't optimistic...
User avatar
New Narrative • Mar 11

Tight Dry Bulk Utilization And Asset Light Co Investments Will Support Long Term Earnings Quality

Catalysts About Western Bulk Chartering Western Bulk Chartering is an asset light dry bulk operator that matches vessels and cargoes to provide transport solutions and risk management for customers. What are the underlying business or industry changes driving this perspective?
Analysis Article • May 01

Cause For Concern? One Analyst Thinks Western Bulk Chartering AS' (OB:WEST) Revenues Are Under Threat

The latest analyst coverage could presage a bad day for Western Bulk Chartering AS ( OB:WEST ), with the covering...
Analysis Article • Nov 22

Why We Like The Returns At Western Bulk Chartering (OB:WEST)

What are the early trends we should look for to identify a stock that could multiply in value over the long term...
Analysis Article • Oct 19

Western Bulk Chartering (OB:WEST) Has A Pretty Healthy Balance Sheet

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Analysis Article • Oct 30

Is Western Bulk Chartering (OB:WEST) A Risky Investment?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analysis Article • Aug 25

Western Bulk Chartering's (OB:WEST) Strong Earnings Are Of Good Quality

Western Bulk Chartering AS ( OB:WEST ) just reported healthy earnings but the stock price didn't move much. Our...
Analysis Article • Aug 22

Here's Why We Think Western Bulk Chartering (OB:WEST) Is Well Worth Watching

The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...
Analysis Article • Jul 27

Upgrade: Analysts Just Made A Stunning Increase To Their Western Bulk Chartering AS (OB:WEST) Forecasts

Western Bulk Chartering AS ( OB:WEST ) shareholders will have a reason to smile today, with the covering analyst making...
Analysis Article • Apr 28

Here's Why I Think Western Bulk Chartering (OB:WEST) Is An Interesting Stock

Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...
Analysis Article • Feb 21

Western Bulk Chartering (OB:WEST) Seems To Use Debt Rather Sparingly

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...

Shareholder Returns

WESTNO ShippingNO Market
7D2.6%4.3%0.5%
1Y74.4%56.0%23.2%

Return vs Industry: WEST exceeded the Norwegian Shipping industry which returned 53.3% over the past year.

Return vs Market: WEST exceeded the Norwegian Market which returned 24% over the past year.

Price Volatility

Is WEST's price volatile compared to industry and market?
WEST volatility
WEST Average Weekly Movement4.0%
Shipping Industry Average Movement4.7%
Market Average Movement4.5%
10% most volatile stocks in NO Market10.7%
10% least volatile stocks in NO Market2.5%

Stable Share Price: WEST has not had significant price volatility in the past 3 months compared to the Norwegian market.

Volatility Over Time: WEST's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
198293Torbjoern Gjervikwww.westernbulk.com

Western Bulk Chartering AS, together with its subsidiaries, operates as a dry bulk shipping company. The company engages in owning, chartering and operating ships, dry bulk vessels for the transportation of products, such as minerals, timber, cement, bauxite, steel products, grains, coal, and other products; and operation of chartered-in fleet varies between 100 and 150 vessels, including time charter trip vessels and period vessels. It also facilitates and participates in financial transactions and any other activities, including participation in companies engaged in similar activities; and trading in securities, including purchase and sale of shares, derivatives, options, currencies and other suitable instruments.

Western Bulk Chartering AS Fundamentals Summary

How do Western Bulk Chartering's earnings and revenue compare to its market cap?
WEST fundamental statistics
Market capNOK 800.15m
Earnings (TTM)NOK 8.26m
Revenue (TTM)NOK 10.39b
96.8x
P/E Ratio
0.1x
P/S Ratio

Is WEST overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
WEST income statement (TTM)
RevenueUS$1.10b
Cost of RevenueUS$1.08b
Gross ProfitUS$20.47m
Other ExpensesUS$19.59m
EarningsUS$878.00k

Last Reported Earnings

Jun 30, 2026

Next Earnings Date

n/a

Earnings per share (EPS)0.026
Gross Margin1.85%
Net Profit Margin0.08%
Debt/Equity Ratio0%

How did WEST perform over the long term?

See historical performance and comparison

Dividends

4.8%
Current Dividend Yield
75%
Payout Ratio

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/18 06:31
End of Day Share Price 2026/09/18 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
  • SEC Form 10-K
  • SEC Form 10-Q
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
  • Analyst Research Reports
  • Blue Matrix
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
  • ICE Market Data
  • SEC Form S-1
Ownership10 years
  • Top shareholders
  • Insider trading
  • SEC Form 4
  • SEC Form 13D
Management10 years
  • Leadership team
  • Board of directors
  • SEC Form 10-K
  • SEC Form DEF 14A
Key Developments10 years
  • Company announcements
  • SEC Form 8-K

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Western Bulk Chartering AS is covered by 2 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Kyrre FlesjaDNB Carnegie
Jostein AschjemDNB Carnegie

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Financial Data provided by S&P Global Market Intelligence LLC, analysis provided by Simply Wall Street Pty Ltd. Copyright © 2026, S&P Global Market Intelligence LLC. All rights reserved.
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