| Valuation method | Value, £ | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 176.68 | -19 |
| Intrinsic value (DCF) | 106.25 | -51 |
| Graham-Dodd Method | n/a | |
| Graham Formula | 0.24 | -100 |
Braemar Plc (LSE: BMS) is a leading provider of shipbroking, financial advisory, and logistics services to the global shipping, marine, and energy industries. Founded in 1842 and headquartered in London, the company operates internationally, offering specialized services such as tanker chartering, dry cargo and offshore vessel chartering, second-hand vessel sales, and financial advisory solutions. Braemar’s diversified business model spans three key segments: Shipbroking, Financial, and Logistics, ensuring resilience across market cycles. The company serves clients in major maritime hubs, including the UK, Singapore, the US, and Australia. With a strong legacy and deep industry expertise, Braemar is well-positioned to capitalize on evolving trends in global trade, energy transition, and maritime logistics. Its comprehensive service portfolio and global footprint make it a trusted partner for shipping and energy stakeholders seeking end-to-end maritime solutions.
Braemar Plc presents a mixed investment case. The company benefits from a diversified revenue stream across shipbroking, financial advisory, and logistics, reducing reliance on any single market segment. Its strong industry reputation and global presence provide stability, while a modest market cap of £81.6M suggests potential for growth. However, risks include exposure to cyclical shipping markets, geopolitical trade disruptions, and fluctuating energy demand. The company’s diluted EPS of 0.13 and net income of £4.6M in FY 2024 indicate profitability, but operating cash flow (£5.2M) remains constrained relative to debt (£34.7M). A dividend yield of ~1.7% (14p per share) offers income appeal, but investors should weigh this against sector volatility and Braemar’s leveraged balance sheet.
Braemar Plc competes in a fragmented but highly specialized maritime services industry. Its competitive advantage lies in its long-standing reputation, global network, and integrated service model combining shipbroking, financial advisory, and logistics. Unlike pure-play brokers, Braemar’s ability to offer end-to-end solutions—from vessel transactions to financing and port logistics—differentiates it from smaller regional players. However, it faces intense competition from larger rivals like Clarksons and Howe Robinson, which boast greater scale and resources. Braemar’s niche expertise in LNG and specialized tankers provides an edge in high-growth energy segments, but its smaller size limits its capacity to undercut competitors on pricing or invest heavily in digital transformation. The company’s financial advisory arm adds value by catering to mid-market clients, though it lacks the brand recognition of top-tier maritime investment banks. Overall, Braemar’s positioning as a mid-sized, full-service maritime firm allows it to serve a loyal client base, but scalability remains a challenge in competing with industry giants.