GOLDEN OCEAN GROUP LTD (GOGL) Stock Fundamental Analysis
USA - NASDAQ:GOGL - BMG396372051 - Common Stock
7.98 USD
-0.22 (-2.68%)
8 USD
+0.02 (+0.25%)
Taking everything into account, GOGL scores 4 out of 10 in our fundamental rating. GOGL was compared to 35 industry peers in the Marine Transportation industry. While GOGL is still in line with the averages on profitability rating, there are concerns on its financial health. GOGL has a valuation in line with the averages, but on the other hand it scores bad on growth.
1. Profitability
1.1 Basic Checks
GOGL had positive earnings in the past year.
In the past year GOGL had a positive cash flow from operations.
GOGL had positive earnings in 4 of the past 5 years.
GOGL had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
GOGL's Return On Assets of 3.35% is fine compared to the rest of the industry. GOGL outperforms 61.11% of its industry peers.
With a decent Return On Equity value of 6.23%, GOGL is doing good in the industry, outperforming 63.89% of the companies in the same industry.
With a Return On Invested Capital value of 4.92%, GOGL perfoms like the industry average, outperforming 58.33% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for GOGL is in line with the industry average of 7.67%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.35% | ||
| ROE | 6.23% | ||
| ROIC | 4.92% |
ROA(3y)8%
ROA(5y)6.84%
ROE(3y)13.89%
ROE(5y)11.79%
ROIC(3y)7.46%
ROIC(5y)7.19%
1.3 Margins
GOGL has a Profit Margin of 13.16%. This is in the better half of the industry: GOGL outperforms 63.89% of its industry peers.
In the last couple of years the Profit Margin of GOGL has grown nicely.
GOGL has a Operating Margin of 21.92%. This is comparable to the rest of the industry: GOGL outperforms 58.33% of its industry peers.
GOGL's Operating Margin has improved in the last couple of years.
GOGL has a Gross Margin (42.48%) which is comparable to the rest of the industry.
GOGL's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 21.92% | ||
| PM (TTM) | 13.16% | ||
| GM | 42.48% |
OM growth 3Y-10.52%
OM growth 5Y16.22%
PM growth 3Y-19.28%
PM growth 5Y34.33%
GM growth 3Y-6.9%
GM growth 5Y1.39%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), GOGL is creating some value.
GOGL has about the same amout of shares outstanding than it did 1 year ago.
GOGL has more shares outstanding than it did 5 years ago.
GOGL has a better debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 1.13, we must say that GOGL is in the distress zone and has some risk of bankruptcy.
GOGL has a Altman-Z score of 1.13. This is comparable to the rest of the industry: GOGL outperforms 58.33% of its industry peers.
The Debt to FCF ratio of GOGL is 8.36, which is on the high side as it means it would take GOGL, 8.36 years of fcf income to pay off all of its debts.
GOGL has a Debt to FCF ratio (8.36) which is comparable to the rest of the industry.
GOGL has a Debt/Equity ratio of 0.66. This is a neutral value indicating GOGL is somewhat dependend on debt financing.
GOGL has a Debt to Equity ratio of 0.66. This is in the lower half of the industry: GOGL underperforms 63.89% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.66 | ||
| Debt/FCF | 8.36 | ||
| Altman-Z | 1.13 |
ROIC/WACC0.67
WACC7.3%
2.3 Liquidity
A Current Ratio of 0.81 indicates that GOGL may have some problems paying its short term obligations.
The Current ratio of GOGL (0.81) is worse than 77.78% of its industry peers.
A Quick Ratio of 0.81 indicates that GOGL may have some problems paying its short term obligations.
GOGL's Quick ratio of 0.81 is on the low side compared to the rest of the industry. GOGL is outperformed by 75.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.81 | ||
| Quick Ratio | 0.81 |
3. Growth
3.1 Past
GOGL shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -38.71%.
The Earnings Per Share has been growing by 30.14% on average over the past years. This is a very strong growth
GOGL shows a decrease in Revenue. In the last year, the revenue decreased by -7.73%.
GOGL shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 6.53% yearly.
EPS 1Y (TTM)-38.71%
EPS 3Y-23.79%
EPS 5Y30.14%
EPS Q2Q%-166.67%
Revenue 1Y (TTM)-7.73%
Revenue growth 3Y-6.98%
Revenue growth 5Y6.53%
Sales Q2Q%-27.85%
3.2 Future
The Earnings Per Share is expected to decrease by -6.41% on average over the next years.
Based on estimates for the next years, GOGL will show a decrease in Revenue. The Revenue will decrease by -3.10% on average per year.
EPS Next Y-53.55%
EPS Next 2Y-3.27%
EPS Next 3Y-6.41%
EPS Next 5YN/A
Revenue Next Year-17.68%
Revenue Next 2Y-4.37%
Revenue Next 3Y-3.1%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 14.00, GOGL is valued correctly.
GOGL's Price/Earnings is on the same level as the industry average.
GOGL's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.20.
With a Price/Forward Earnings ratio of 7.61, the valuation of GOGL can be described as very cheap.
Compared to the rest of the industry, the Price/Forward Earnings ratio of GOGL indicates a somewhat cheap valuation: GOGL is cheaper than 63.89% of the companies listed in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.70. GOGL is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14 | ||
| Fwd PE | 7.61 |
4.2 Price Multiples
61.11% of the companies in the same industry are cheaper than GOGL, based on the Enterprise Value to EBITDA ratio.
63.89% of the companies in the same industry are more expensive than GOGL, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 9.22 | ||
| EV/EBITDA | 8.93 |
4.3 Compensation for Growth
GOGL has a very decent profitability rating, which may justify a higher PE ratio.
A cheap valuation may be justified as GOGL's earnings are expected to decrease with -6.41% in the coming years.
PEG (NY)N/A
PEG (5Y)0.46
EPS Next 2Y-3.27%
EPS Next 3Y-6.41%
5. Dividend
5.1 Amount
GOGL has a Yearly Dividend Yield of 10.03%, which is a nice return.
GOGL's Dividend Yield is rather good when compared to the industry average which is at 6.76. GOGL pays more dividend than 91.67% of the companies in the same industry.
GOGL's Dividend Yield is rather good when compared to the S&P500 average which is at 2.38.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 10.03% |
5.2 History
The dividend of GOGL is nicely growing with an annual growth rate of 29.94%!
GOGL has been paying a dividend for at least 10 years, so it has a reliable track record.
The dividend of GOGL decreased recently.
Dividend Growth(5Y)29.94%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
184.66% of the earnings are spent on dividend by GOGL. This is not a sustainable payout ratio.
GOGL's earnings are declining while the Dividend Rate has been growing. This means the dividend growth is most likely not sustainable.
DP184.66%
EPS Next 2Y-3.27%
EPS Next 3Y-6.41%
7.98
-0.22 (-2.68%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryMarine Transportation
Earnings (Last)
Earnings (Next)
Inst Owners35.39%
Inst Owner Change-13.25%
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap1.59B
Analysts76.36
Price Target8.44 (5.76%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 10.03% |
Yearly Dividend1.2
Dividend Growth(5Y)29.94%
DP184.66%
Div Incr Years1
Div Non Decr Years1
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-31.88%
Min EPS beat(2)-36.86%
Max EPS beat(2)-26.9%
EPS beat(4)1
Avg EPS beat(4)-18.69%
Min EPS beat(4)-36.86%
Max EPS beat(4)2.68%
EPS beat(8)5
Avg EPS beat(8)14.66%
EPS beat(12)8
Avg EPS beat(12)15.76%
EPS beat(16)12
Avg EPS beat(16)18.49%
Revenue beat(2)2
Avg Revenue beat(2)15.93%
Min Revenue beat(2)15.19%
Max Revenue beat(2)16.68%
Revenue beat(4)3
Avg Revenue beat(4)8.72%
Min Revenue beat(4)-0.42%
Max Revenue beat(4)16.68%
Revenue beat(8)5
Avg Revenue beat(8)9.6%
Revenue beat(12)9
Avg Revenue beat(12)18.12%
Revenue beat(16)13
Avg Revenue beat(16)22.97%
PT rev (1m)0%
PT rev (3m)-26.75%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-32.74%
EPS NY rev (1m)-0.97%
EPS NY rev (3m)-35.49%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-10.69%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-7.76%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14 | ||
| Fwd PE | 7.61 | ||
| P/S | 1.84 | ||
| P/FCF | 9.22 | ||
| P/OCF | 6.46 | ||
| P/B | 0.87 | ||
| P/tB | 0.87 | ||
| EV/EBITDA | 8.93 |
EPS(TTM)0.57
EY7.14%
EPS(NY)1.05
Fwd EY13.13%
FCF(TTM)0.87
FCFY10.85%
OCF(TTM)1.23
OCFY15.47%
SpS4.33
BVpS9.16
TBVpS9.16
PEG (NY)N/A
PEG (5Y)0.46
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.35% | ||
| ROE | 6.23% | ||
| ROCE | 6.23% | ||
| ROIC | 4.92% | ||
| ROICexc | 5.1% | ||
| ROICexgc | 5.1% | ||
| OM | 21.92% | ||
| PM (TTM) | 13.16% | ||
| GM | 42.48% | ||
| FCFM | 19.99% |
ROA(3y)8%
ROA(5y)6.84%
ROE(3y)13.89%
ROE(5y)11.79%
ROIC(3y)7.46%
ROIC(5y)7.19%
ROICexc(3y)7.79%
ROICexc(5y)7.57%
ROICexgc(3y)7.79%
ROICexgc(5y)7.57%
ROCE(3y)9.45%
ROCE(5y)9.1%
ROICexcg growth 3Y-16.84%
ROICexcg growth 5Y19.87%
ROICexc growth 3Y-16.84%
ROICexc growth 5Y19.87%
OM growth 3Y-10.52%
OM growth 5Y16.22%
PM growth 3Y-19.28%
PM growth 5Y34.33%
GM growth 3Y-6.9%
GM growth 5Y1.39%
F-Score5
Asset Turnover0.25
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.66 | ||
| Debt/FCF | 8.36 | ||
| Debt/EBITDA | 3.69 | ||
| Cap/Depr | 53.12% | ||
| Cap/Sales | 8.52% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 75.11% | ||
| Profit Quality | 151.83% | ||
| Current Ratio | 0.81 | ||
| Quick Ratio | 0.81 | ||
| Altman-Z | 1.13 |
F-Score5
WACC7.3%
ROIC/WACC0.67
Cap/Depr(3y)156.98%
Cap/Depr(5y)170.68%
Cap/Sales(3y)23.29%
Cap/Sales(5y)22.2%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-38.71%
EPS 3Y-23.79%
EPS 5Y30.14%
EPS Q2Q%-166.67%
EPS Next Y-53.55%
EPS Next 2Y-3.27%
EPS Next 3Y-6.41%
EPS Next 5YN/A
Revenue 1Y (TTM)-7.73%
Revenue growth 3Y-6.98%
Revenue growth 5Y6.53%
Sales Q2Q%-27.85%
Revenue Next Year-17.68%
Revenue Next 2Y-4.37%
Revenue Next 3Y-3.1%
Revenue Next 5YN/A
EBIT growth 1Y-26.42%
EBIT growth 3Y-16.77%
EBIT growth 5Y23.81%
EBIT Next Year-9.8%
EBIT Next 3Y7.29%
EBIT Next 5YN/A
FCF growth 1Y-32.86%
FCF growth 3Y31.74%
FCF growth 5Y18.21%
OCF growth 1Y-46.05%
OCF growth 3Y-13.29%
OCF growth 5Y18.19%