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NORTHERN OCEAN LTD (NOL.OL) Stock Fundamental Analysis

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

6.45  +0.06 (+0.94%)

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. NOL has a bad profitability rating. Also its financial health evaluation is rather negative. While showing a medium growth rate, NOL is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

In the past year NOL has reported negative net income.
In the past year NOL had a positive cash flow from operations.
NOL had negative earnings in each of the past 5 years.
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 0 -50M -100M -150M -200M

1.2 Ratios

Looking at the Return On Assets, with a value of -6.79%, NOL is doing worse than 88.57% of the companies in the same industry.
Looking at the Return On Equity, with a value of -15.28%, NOL is doing worse than 88.57% of the companies in the same industry.
Industry RankSector Rank
ROA -6.79%
ROE -15.28%
ROIC N/A
ROA(3y)-5.55%
ROA(5y)-4.12%
ROE(3y)-12.26%
ROE(5y)-9.1%
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 0 20 40 60 80

1.3 Margins

The Gross Margin of NOL (18.05%) is comparable to the rest of the industry.
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 18.05%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y1.7%
GM growth 5YN/A
NOL.OL Yearly Profit, Operating, Gross MarginsNOL.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2018 2019 2020 2021 2022 2023 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.
NOL has more shares outstanding than it did 1 year ago.
NOL has more shares outstanding than it did 5 years ago.
NOL has a worse debt/assets ratio than last year.
NOL.OL Yearly Shares OutstandingNOL.OL Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 50M 100M 150M
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 200M 400M 600M 800M 1B

2.2 Solvency

NOL has an Altman-Z score of 0.09. This is a bad value and indicates that NOL is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 0.09, NOL is in the better half of the industry, outperforming 65.71% of the companies in the same industry.
The Debt to FCF ratio of NOL is 3272.48, which is on the high side as it means it would take NOL, 3272.48 years of fcf income to pay off all of its debts.
NOL has a worse Debt to FCF ratio (3272.48) than 74.29% of its industry peers.
NOL has a Debt/Equity ratio of 1.10. This is a high value indicating a heavy dependency on external financing.
NOL has a Debt to Equity ratio of 1.10. This is in the lower half of the industry: NOL underperforms 71.43% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.1
Debt/FCF 3272.48
Altman-Z 0.09
ROIC/WACCN/A
WACC7%
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 0 200M -200M 400M

2.3 Liquidity

NOL has a Current Ratio of 1.62. This is a normal value and indicates that NOL is financially healthy and should not expect problems in meeting its short term obligations.
NOL has a Current ratio (1.62) which is comparable to the rest of the industry.
NOL has a Quick Ratio of 1.57. This is a normal value and indicates that NOL is financially healthy and should not expect problems in meeting its short term obligations.
The Quick ratio of NOL (1.57) is better than 65.71% of its industry peers.
Industry RankSector Rank
Current Ratio 1.62
Quick Ratio 1.57
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 100M 200M 300M 400M

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6

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 28.14% over the past year.
NOL shows a strong growth in Revenue. In the last year, the Revenue has grown by 66.00%.
Measured over the past years, NOL shows a very strong growth in Revenue. The Revenue has been growing by 35.80% on average per year.
EPS 1Y (TTM)28.14%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-90%
Revenue 1Y (TTM)66%
Revenue growth 3Y35.8%
Revenue growth 5YN/A
Sales Q2Q%-50.8%

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 32.15% on average per year.
The Revenue is expected to grow by 8.47% on average over the next years. This is quite good.
EPS Next Y40.44%
EPS Next 2Y32.54%
EPS Next 3Y32.15%
EPS Next 5YN/A
Revenue Next Year17.58%
Revenue Next 2Y2.36%
Revenue Next 3Y12.97%
Revenue Next 5Y8.47%

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 2018 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 2018 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

NOL reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Also next year NOL is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
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

65.71% of the companies in the same industry are cheaper than NOL, based on the Enterprise Value to EBITDA ratio.
Based on the Price/Free Cash Flow ratio, NOL is valued a bit more expensive than 74.29% of the companies in the same industry.
Industry RankSector Rank
P/FCF 1150.16
EV/EBITDA 18.9
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 32.15% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y32.54%
EPS Next 3Y32.15%

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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 (3/7/2025, 7:00:00 PM)

6.45

+0.06 (+0.94%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryEnergy Equipment & Services
Earnings (Last)02-25 2025-02-25/amc
Earnings (Next)05-28 2025-05-28
Inst Owners7.99%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap1.96B
Analysts82.22
Price Target11.9 (84.5%)
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)-153.02%
Min EPS beat(2)-197.03%
Max EPS beat(2)-109.02%
EPS beat(4)0
Avg EPS beat(4)-179.65%
Min EPS beat(4)-230.03%
Max EPS beat(4)-109.02%
EPS beat(8)N/A
Avg EPS beat(8)N/A
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)-3.81%
Min Revenue beat(2)-4.86%
Max Revenue beat(2)-2.76%
Revenue beat(4)2
Avg Revenue beat(4)3.62%
Min Revenue beat(4)-4.86%
Max Revenue beat(4)11.58%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
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)6.06%
PT rev (3m)9.37%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)-9.52%
EPS NY rev (3m)-4.55%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-3.64%
Revenue NY rev (1m)-0.35%
Revenue NY rev (3m)1.06%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 0.65
P/FCF 1150.16
P/OCF 3.8
P/B 0.39
P/tB 0.39
EV/EBITDA 18.9
EPS(TTM)-4.01
EYN/A
EPS(NY)-1.03
Fwd EYN/A
FCF(TTM)0.01
FCFY0.09%
OCF(TTM)1.7
OCFY26.31%
SpS9.95
BVpS16.43
TBVpS16.43
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -6.79%
ROE -15.28%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 18.05%
FCFM 0.06%
ROA(3y)-5.55%
ROA(5y)-4.12%
ROE(3y)-12.26%
ROE(5y)-9.1%
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 3Y1.7%
GM growth 5YN/A
F-Score5
Asset Turnover0.27
Health
Industry RankSector Rank
Debt/Equity 1.1
Debt/FCF 3272.48
Debt/EBITDA 15.35
Cap/Depr 99.33%
Cap/Sales 17%
Interest Coverage N/A
Cash Conversion 144.1%
Profit Quality N/A
Current Ratio 1.62
Quick Ratio 1.57
Altman-Z 0.09
F-Score5
WACC7%
ROIC/WACCN/A
Cap/Depr(3y)42.1%
Cap/Depr(5y)1599.81%
Cap/Sales(3y)14.19%
Cap/Sales(5y)345.77%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)28.14%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-90%
EPS Next Y40.44%
EPS Next 2Y32.54%
EPS Next 3Y32.15%
EPS Next 5YN/A
Revenue 1Y (TTM)66%
Revenue growth 3Y35.8%
Revenue growth 5YN/A
Sales Q2Q%-50.8%
Revenue Next Year17.58%
Revenue Next 2Y2.36%
Revenue Next 3Y12.97%
Revenue Next 5Y8.47%
EBIT growth 1Y58.5%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year524.95%
EBIT Next 3Y127.02%
EBIT Next 5YN/A
FCF growth 1Y100.44%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y239.57%
OCF growth 3YN/A
OCF growth 5YN/A