GOLDEN OCEAN GROUP LTD (GOGL.OL) Stock Fundamental Analysis

OSL:GOGL • BMG396372051

83.25 NOK
+0.95 (+1.15%)
Last: Aug 19, 2025, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

3

Overall GOGL gets a fundamental rating of 3 out of 10. We evaluated GOGL against 17 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 expensive valuation and it also scores bad on growth.


Dividend Valuation Growth Profitability Health

4

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.
  • Of the past 5 years GOGL 4 years were profitable.
  • GOGL had a positive operating cash flow in each of the past 5 years.
GOGL.OL Yearly Net Income VS EBIT VS OCF VS FCFGOGL.OL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M

1.2 Ratios

  • GOGL has a Return On Assets of 3.35%. This is amonst the worse of the industry: GOGL underperforms 84.21% of its industry peers.
  • The Return On Equity of GOGL (6.23%) is worse than 84.21% of its industry peers.
  • With a Return On Invested Capital value of 4.80%, GOGL is not doing good in the industry: 68.42% of the companies in the same industry are doing better.
  • The Average Return On Invested Capital over the past 3 years for GOGL is below the industry average of 9.28%.
Industry RankSector Rank
ROA 3.35%
ROE 6.23%
ROIC 4.8%
ROA(3y)8%
ROA(5y)6.84%
ROE(3y)13.89%
ROE(5y)11.79%
ROIC(3y)7.27%
ROIC(5y)7.01%
GOGL.OL Yearly ROA, ROE, ROICGOGL.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20

1.3 Margins

  • Looking at the Profit Margin, with a value of 13.16%, GOGL is in line with its industry, outperforming 42.11% of the companies in the same industry.
  • GOGL's Profit Margin has improved in the last couple of years.
  • GOGL's Operating Margin of 21.92% is in line compared to the rest of the industry. GOGL outperforms 57.89% of its industry peers.
  • In the last couple of years the Operating Margin of GOGL has grown nicely.
  • GOGL has a Gross Margin (42.48%) which is comparable to the rest of the industry.
  • In the last couple of years the Gross Margin of GOGL has remained more or less at the same level.
Industry RankSector 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%
GOGL.OL Yearly Profit, Operating, Gross MarginsGOGL.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 -40 60

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ROAROEROICOperating and Profit MarginShow most profitable peers

1

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so GOGL is destroying value.
  • The number of shares outstanding for GOGL remains at a similar level compared to 1 year ago.
  • The number of shares outstanding for GOGL has been increased compared to 5 years ago.
  • GOGL has a better debt/assets ratio than last year.
GOGL.OL Yearly Shares OutstandingGOGL.OL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M
GOGL.OL Yearly Total Debt VS Total AssetsGOGL.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

2.2 Solvency

  • GOGL has an Altman-Z score of 1.15. This is a bad value and indicates that GOGL is not financially healthy and even has some risk of bankruptcy.
  • GOGL's Altman-Z score of 1.15 is on the low side compared to the rest of the industry. GOGL is outperformed by 68.42% of its industry peers.
  • GOGL has a debt to FCF ratio of 8.36. This is a slightly negative value and a sign of low solvency as GOGL would need 8.36 years to pay back of all of its debts.
  • With a Debt to FCF ratio value of 8.36, GOGL is not doing good in the industry: 63.16% of the companies in the same industry are doing better.
  • GOGL has a Debt/Equity ratio of 0.66. This is a neutral value indicating GOGL is somewhat dependend on debt financing.
  • The Debt to Equity ratio of GOGL (0.66) is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.66
Debt/FCF 8.36
Altman-Z 1.15
ROIC/WACC0.56
WACC8.6%
GOGL.OL Yearly LT Debt VS Equity VS FCFGOGL.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B 1.5B

2.3 Liquidity

  • A Current Ratio of 0.81 indicates that GOGL may have some problems paying its short term obligations.
  • GOGL has a worse Current ratio (0.81) than 89.47% of its industry peers.
  • GOGL has a Quick Ratio of 0.81. This is a bad value and indicates that GOGL is not financially healthy enough and could expect problems in meeting 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 78.95% of its industry peers.
Industry RankSector Rank
Current Ratio 0.81
Quick Ratio 0.81
GOGL.OL Yearly Current Assets VS Current LiabilitesGOGL.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M 500M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

2

3. Growth

3.1 Past

  • The earnings per share for GOGL have decreased strongly by -38.71% in the last year.
  • Measured over the past years, GOGL shows a very strong growth in Earnings Per Share. The EPS has been growing by 30.14% on average per year.
  • GOGL shows a decrease in Revenue. In the last year, the revenue decreased by -7.73%.
  • Measured over the past years, GOGL shows a small growth in Revenue. The Revenue has been growing by 6.53% on average per year.
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.
  • The Revenue is expected to decrease by -3.10% on average over the next years.
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.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
GOGL.OL Yearly Revenue VS EstimatesGOGL.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 200M 400M 600M 800M 1B
GOGL.OL Yearly EPS VS EstimatesGOGL.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 2 -2

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Find the best growth stocksShow best growing peers

3

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 14.50, the valuation of GOGL can be described as correct.
  • Based on the Price/Earnings ratio, GOGL is valued a bit more expensive than 78.95% of the companies in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 27.10, GOGL is valued a bit cheaper.
  • With a Price/Forward Earnings ratio of 7.88, the valuation of GOGL can be described as very cheap.
  • GOGL's Price/Forward Earnings ratio is in line with the industry average.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 28.06, GOGL is valued rather cheaply.
Industry RankSector Rank
PE 14.5
Fwd PE 7.88
GOGL.OL Price Earnings VS Forward Price EarningsGOGL.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80 100

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, GOGL is valued a bit more expensive than the industry average as 68.42% of the companies are valued more cheaply.
  • GOGL's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 9.54
EV/EBITDA 9.11
GOGL.OL Per share dataGOGL.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80

4.3 Compensation for Growth

  • 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)0.48
EPS Next 2Y-3.27%
EPS Next 3Y-6.41%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. Dividend

5.1 Amount

  • GOGL has a Yearly Dividend Yield of 10.03%, which is a nice return.
  • Compared to an average industry Dividend Yield of 6.92, GOGL pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.83, GOGL pays a better dividend.
Industry RankSector Rank
Dividend Yield 10.03%

5.2 History

  • On average, the dividend of GOGL grows each year by 29.94%, which is quite nice.
Dividend Growth(5Y)29.94%
Div Incr Years0
Div Non Decr Years0

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%
GOGL.OL Yearly Income VS Free CF VS DividendGOGL.OL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M
GOGL.OL Dividend Payout.GOGL.OL Dividend Payout, showing the Payout Ratio.GOGL.OL Dividend Payout.PayoutRetained Earnings

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GOLDEN OCEAN GROUP LTD

OSL:GOGL (8/19/2025, 7:00:00 PM)

83.25

+0.95 (+1.15%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryMarine Transportation
Earnings (Last)08-21
Earnings (Next)11-28
Inst Owners35.39%
Inst Owner ChangeN/A
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap16.60B
Revenue(TTM)863.61M
Net Income(TTM)113.69M
Analysts76.36
Price Target85.39 (2.57%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 10.03%
Yearly Dividend12.12
Dividend Growth(5Y)29.94%
DP184.66%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
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)-17.31%
PT rev (3m)-29.09%
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 RankSector Rank
PE 14.5
Fwd PE 7.88
P/S 1.91
P/FCF 9.54
P/OCF 6.69
P/B 0.9
P/tB 0.9
EV/EBITDA 9.11
EPS(TTM)5.74
EY6.89%
EPS(NY)10.56
Fwd EY12.68%
FCF(TTM)8.72
FCFY10.48%
OCF(TTM)12.44
OCFY14.94%
SpS43.64
BVpS92.27
TBVpS92.27
PEG (NY)N/A
PEG (5Y)0.48
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA 3.35%
ROE 6.23%
ROCE 6.23%
ROIC 4.8%
ROICexc 4.97%
ROICexgc 4.97%
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)7.27%
ROIC(5y)7.01%
ROICexc(3y)7.59%
ROICexc(5y)7.38%
ROICexgc(3y)7.59%
ROICexgc(5y)7.38%
ROCE(3y)9.45%
ROCE(5y)9.1%
ROICexgc growth 3Y-16.84%
ROICexgc 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 RankSector 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 1.15
F-Score5
WACC8.6%
ROIC/WACC0.56
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%

GOLDEN OCEAN GROUP LTD / GOGL.OL FAQ

What is the fundamental rating for GOGL stock?

ChartMill assigns a fundamental rating of 3 / 10 to GOGL.OL.


Can you provide the valuation status for GOLDEN OCEAN GROUP LTD?

ChartMill assigns a valuation rating of 3 / 10 to GOLDEN OCEAN GROUP LTD (GOGL.OL). This can be considered as Overvalued.


What is the profitability of GOGL stock?

GOLDEN OCEAN GROUP LTD (GOGL.OL) has a profitability rating of 4 / 10.


How financially healthy is GOLDEN OCEAN GROUP LTD?

The financial health rating of GOLDEN OCEAN GROUP LTD (GOGL.OL) is 1 / 10.


What is the expected EPS growth for GOLDEN OCEAN GROUP LTD (GOGL.OL) stock?

The Earnings per Share (EPS) of GOLDEN OCEAN GROUP LTD (GOGL.OL) is expected to decline by -53.55% in the next year.