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NORTHERN OCEAN LTD (NOL.OL) Stock Fundamental Analysis

OSL:NOL - Euronext Oslo - BMG6682J1036 - Common Stock - Currency: NOK

5.4  -0.29 (-5.1%)

Fundamental Rating

2

Taking everything into account, NOL scores 2 out of 10 in our fundamental rating. NOL was compared to 35 industry peers in the Energy Equipment & Services industry. Both the profitability and financial health of NOL have multiple concerns. NOL is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

NOL had negative earnings in the past year.
NOL had a negative operating cash flow in the past year.
In the past 5 years NOL always reported negative net income.
NOL had negative operating cash flow in 4 of the past 5 years.
NOL.OL Yearly Net Income VS EBIT VS OCF VS FCFNOL.OL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2018 2019 2020 2021 2022 2023 2024 0 -50M -100M -150M -200M

1.2 Ratios

The Return On Assets of NOL (-6.36%) is worse than 88.57% of its industry peers.
With a Return On Equity value of -14.72%, NOL is not doing good in the industry: 91.43% of the companies in the same industry are doing better.
Industry RankSector Rank
ROA -6.36%
ROE -14.72%
ROIC N/A
ROA(3y)-7.3%
ROA(5y)-5.25%
ROE(3y)-16.42%
ROE(5y)-11.74%
ROIC(3y)N/A
ROIC(5y)N/A
NOL.OL Yearly ROA, ROE, ROICNOL.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2018 2019 2020 2021 2022 2023 2024 0 20 40 60 80

1.3 Margins

NOL's Gross Margin of 21.81% is in line compared to the rest of the industry. NOL outperforms 54.29% of its industry peers.
In the last couple of years the Gross Margin of NOL has grown nicely.
The Profit Margin and Operating Margin are not available for NOL so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 21.81%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-2.2%
GM growth 5Y128.67%
NOL.OL Yearly Profit, Operating, Gross MarginsNOL.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2018 2019 2020 2021 2022 2023 2024 0 -100 -200 -300 -400

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2

2. Health

2.1 Basic Checks

NOL does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, NOL has more shares outstanding
Compared to 5 years ago, NOL has more shares outstanding
The debt/assets ratio for NOL is higher compared to a year ago.
NOL.OL Yearly Shares OutstandingNOL.OL Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M
NOL.OL Yearly Total Debt VS Total AssetsNOL.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

2.2 Solvency

NOL has an Altman-Z score of 0.04. This is a bad value and indicates that NOL is not financially healthy and even has some risk of bankruptcy.
NOL has a Altman-Z score (0.04) which is comparable to the rest of the industry.
A Debt/Equity ratio of 1.16 is on the high side and indicates that NOL has dependencies on debt financing.
The Debt to Equity ratio of NOL (1.16) is worse than 68.57% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.16
Debt/FCF N/A
Altman-Z 0.04
ROIC/WACCN/A
WACC3.74%
NOL.OL Yearly LT Debt VS Equity VS FCFNOL.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M

2.3 Liquidity

NOL has a Current Ratio of 1.53. This is a normal value and indicates that NOL is financially healthy and should not expect problems in meeting its short term obligations.
NOL's Current ratio of 1.53 is in line compared to the rest of the industry. NOL outperforms 51.43% of its industry peers.
A Quick Ratio of 1.53 indicates that NOL should not have too much problems paying its short term obligations.
The Quick ratio of NOL (1.53) is better than 62.86% of its industry peers.
Industry RankSector Rank
Current Ratio 1.53
Quick Ratio 1.53
NOL.OL Yearly Current Assets VS Current LiabilitesNOL.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M

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5

3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 17.95% over the past year.
The Revenue has grown by 11.37% in the past year. This is quite good.
NOL shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 79.78% yearly.
EPS 1Y (TTM)17.95%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%50%
Revenue 1Y (TTM)11.37%
Revenue growth 3Y57.31%
Revenue growth 5Y79.78%
Sales Q2Q%-18.32%

3.2 Future

Based on estimates for the next years, NOL will show a very strong growth in Earnings Per Share. The EPS will grow by 30.78% on average per year.
The Revenue is expected to grow by 4.50% on average over the next years.
EPS Next Y49.5%
EPS Next 2Y51.65%
EPS Next 3Y30.78%
EPS Next 5YN/A
Revenue Next Year-10.02%
Revenue Next 2Y10.52%
Revenue Next 3Y4.5%
Revenue Next 5YN/A

3.3 Evolution

The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
NOL.OL Yearly Revenue VS EstimatesNOL.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2027 100M 200M 300M
NOL.OL Yearly EPS VS EstimatesNOL.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 -0.2 -0.4 -0.6 -0.8 -1

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1

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for NOL. In the last year negative earnings were reported.
Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for NOL. No positive earnings are expected for the next year.
Industry RankSector Rank
PE N/A
Fwd PE N/A
NOL.OL Price Earnings VS Forward Price EarningsNOL.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 10 20

4.2 Price Multiples

NOL's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. NOL is more expensive than 74.29% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 16.24
NOL.OL Per share dataNOL.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15

4.3 Compensation for Growth

NOL's earnings are expected to grow with 30.78% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y51.65%
EPS Next 3Y30.78%

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0

5. Dividend

5.1 Amount

NOL does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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NORTHERN OCEAN LTD

OSL:NOL (4/25/2025, 7:00:00 PM)

5.4

-0.29 (-5.1%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryEnergy Equipment & Services
Earnings (Last)02-25 2025-02-25/bmo
Earnings (Next)05-23 2025-05-23
Inst Owners7.99%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap1.64B
Analysts82.22
Price Target11.22 (107.78%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-128.27%
Min EPS beat(2)-147.52%
Max EPS beat(2)-109.02%
EPS beat(4)0
Avg EPS beat(4)-159.02%
Min EPS beat(4)-197.03%
Max EPS beat(4)-109.02%
EPS beat(8)2
Avg EPS beat(8)-148.02%
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-5.08%
Min Revenue beat(2)-5.3%
Max Revenue beat(2)-4.86%
Revenue beat(4)1
Avg Revenue beat(4)-0.6%
Min Revenue beat(4)-5.3%
Max Revenue beat(4)10.5%
Revenue beat(8)5
Avg Revenue beat(8)7.67%
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-5.71%
PT rev (3m)3.12%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-100%
EPS NY rev (1m)0.41%
EPS NY rev (3m)N/A
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-13.33%
Revenue NY rev (1m)0.97%
Revenue NY rev (3m)-5.08%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 0.6
P/FCF N/A
P/OCF N/A
P/B 0.35
P/tB 0.35
EV/EBITDA 16.24
EPS(TTM)-3.34
EYN/A
EPS(NY)-1.68
Fwd EYN/A
FCF(TTM)-2.57
FCFYN/A
OCF(TTM)-0.67
OCFYN/A
SpS9.07
BVpS15.34
TBVpS15.34
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -6.36%
ROE -14.72%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 21.81%
FCFM N/A
ROA(3y)-7.3%
ROA(5y)-5.25%
ROE(3y)-16.42%
ROE(5y)-11.74%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-2.2%
GM growth 5Y128.67%
F-Score5
Asset Turnover0.26
Health
Industry RankSector Rank
Debt/Equity 1.16
Debt/FCF N/A
Debt/EBITDA 12.99
Cap/Depr 110.97%
Cap/Sales 21%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.53
Quick Ratio 1.53
Altman-Z 0.04
F-Score5
WACC3.74%
ROIC/WACCN/A
Cap/Depr(3y)78.92%
Cap/Depr(5y)75.36%
Cap/Sales(3y)21.09%
Cap/Sales(5y)21.44%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)17.95%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%50%
EPS Next Y49.5%
EPS Next 2Y51.65%
EPS Next 3Y30.78%
EPS Next 5YN/A
Revenue 1Y (TTM)11.37%
Revenue growth 3Y57.31%
Revenue growth 5Y79.78%
Sales Q2Q%-18.32%
Revenue Next Year-10.02%
Revenue Next 2Y10.52%
Revenue Next 3Y4.5%
Revenue Next 5YN/A
EBIT growth 1Y56.73%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year903.2%
EBIT Next 3Y177.98%
EBIT Next 5YN/A
FCF growth 1Y5.93%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y36.46%
OCF growth 3YN/A
OCF growth 5YN/A