
Subsea 7 S.A. (SUBCY)
ValueMarkers Composite Index
13% above intrinsic value ($29)
Subsea 7 S.A. (SUBCY) — VMCI valuation read
Subsea 7 S.A. sits at VMCI 63/100, with the Energy sector median at 50. That 13-point spread is the first thing to note on SUBCY: it tells the reader the composite is favorable before any single ratio is examined, and the mid-cap tier sets the comparison set.
Form 4 disclosures on SUBCY are blank for the trailing 30 days. With the insider channel offline, the EV/EBITDA delta, free-cash-flow trajectory, and the next earnings print do the talking.
**Investor frame.** The Value read on SUBCY: SUBCY trades at 26.0x earnings, 44% above the Energy median of 18.0x, with EV/EBITDA at 13.0x against 12.0x. The Quality read: ROIC of 12.0% sits 2.0pp above the Energy median (10.0%). The Risk read: net debt to EBITDA of 0.6x leaves covenant headroom, anchoring the bear scenario on a measurable balance-sheet metric.
SUBCY fell 0.8% over the trailing 7 days, with a -20.5% read on a 30-day basis.
Subsea 7 S.A. delivers offshore projects and services for the evolving energy industry worldwide. It provides subsea field development products and services, including project management, design and engineering, procurement, fabrication, survey, installation, and commissioning of production facilities on the seabed and the tie-back of its facilities to fixed or floating platforms or to the shore. The company also offers engineering, procurement, commissioning, and installation of subsea umbilicals, risers, and flowlines; inspection, repair, maintenance, remote intervention, and integrity management of subsea infrastructure services; conventional services comprising fabrication, installation, extension, and refurbishment of fixed and floating platforms and associated pipelines in shallow water; and hook-up services. In addition, it operates heavy lifting operations and heavy transportation services for renewables structures; and installs offshore wind turbine foundations and inter-array cables, as well as engages in the decommissioning of redundant offshore structures. Further, the company provides remotely operated vehicles (ROVs) and tooling services to support exploration and production activities, as well as engineering and advisory services for customers in the oil and gas, renewables, and utilities industries. As of December 31, 2021, it has a fleet of 38 vessels. Subsea 7 S.A. was incorporated in 1993 and is based in Luxembourg.
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