GOLDEN OCEAN GROUP LTD (GOGL.OL) Stock Fundamental Analysis
OSL:GOGL - Euronext Oslo - BMG396372051 - Common Stock - Currency: NOK
Taking everything into account, GOGL scores 4 out of 10 in our fundamental rating. GOGL was compared to 19 industry peers in the Marine Transportation industry. GOGL has a medium profitability rating, but doesn't score so well on its financial health evaluation. GOGL is not valued too expensively and it also shows a decent growth rate.
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.
In the past 5 years GOGL always reported a positive cash flow from operatings.
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.
GOGL's Return On Equity of 6.23% is on the low side compared to the rest of the industry. GOGL is outperformed by 84.21% of its industry peers.
With a Return On Invested Capital value of 4.80%, GOGL is not doing good in the industry: 63.16% of the companies in the same industry are doing better.
Measured over the past 3 years, the Average Return On Invested Capital for GOGL is below the industry average of 10.33%.
| Industry Rank | Sector 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%
1.3 Margins
The Profit Margin of GOGL (13.16%) is comparable to the rest of the industry.
GOGL's Profit Margin has improved in the last couple of years.
GOGL's Operating Margin of 21.92% is fine compared to the rest of the industry. GOGL outperforms 63.16% of its industry peers.
In the last couple of years the Operating Margin of GOGL has grown nicely.
With a Gross Margin value of 42.48%, GOGL perfoms like the industry average, outperforming 47.37% of the companies in the same industry.
In the last couple of years the Gross Margin of GOGL has remained more or less at the same level.
| 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) below the Cost of Capital (WACC), GOGL is destroying value.
Compared to 1 year ago, GOGL has about the same amount of shares outstanding.
Compared to 5 years ago, GOGL has more shares outstanding
Compared to 1 year ago, GOGL has an improved debt to assets ratio.
2.2 Solvency
GOGL has an Altman-Z score of 1.07. This is a bad value and indicates that GOGL is not financially healthy and even has some risk of bankruptcy.
GOGL has a worse Altman-Z score (1.07) than 78.95% 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.
GOGL has a Debt to FCF ratio (8.36) which is in line with its industry peers.
GOGL has a Debt/Equity ratio of 0.66. This is a neutral value indicating GOGL is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.66, GOGL is in line with its industry, outperforming 47.37% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.66 | ||
| Debt/FCF | 8.36 | ||
| Altman-Z | 1.07 |
ROIC/WACC0.66
WACC7.31%
2.3 Liquidity
A Current Ratio of 0.81 indicates that GOGL may have some problems paying its short term obligations.
Looking at the Current ratio, with a value of 0.81, GOGL is doing worse than 89.47% of the companies in the same industry.
A Quick Ratio of 0.81 indicates that GOGL may have some problems paying its short term obligations.
GOGL has a worse Quick ratio (0.81) than 78.95% 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%.
GOGL shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 30.14% yearly.
Looking at the last year, GOGL shows a decrease in Revenue. The Revenue has decreased by -7.73% in the last year.
The Revenue has been growing slightly by 6.53% on average over the past years.
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 grow by 19.50% on average over the next years. This is quite good.
Based on estimates for the next years, GOGL will show a small growth in Revenue. The Revenue will grow by 3.80% on average per year.
EPS Next Y-28%
EPS Next 2Y11.75%
EPS Next 3Y19.5%
EPS Next 5YN/A
Revenue Next Year-10.75%
Revenue Next 2Y1.92%
Revenue Next 3Y3.8%
Revenue Next 5YN/A
3.3 Evolution
The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
GOGL is valuated correctly with a Price/Earnings ratio of 13.56.
78.95% of the companies in the same industry are cheaper than GOGL, based on the Price/Earnings ratio.
When comparing the Price/Earnings ratio of GOGL to the average of the S&P500 Index (26.25), we can say GOGL is valued slightly cheaper.
The Price/Forward Earnings ratio is 5.52, which indicates a rather cheap valuation of GOGL.
GOGL's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. GOGL is cheaper than 63.16% of the companies in the same industry.
GOGL is valuated cheaply when we compare the Price/Forward Earnings ratio to 22.15, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.56 | ||
| Fwd PE | 5.52 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of GOGL is on the same level as its industry peers.
GOGL's Price/Free Cash Flow ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 8.92 | ||
| EV/EBITDA | 8.45 |
4.3 Compensation for Growth
GOGL's earnings are expected to grow with 19.50% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)0.45
EPS Next 2Y11.75%
EPS Next 3Y19.5%
5. Dividend
5.1 Amount
GOGL has a Yearly Dividend Yield of 13.93%, which is a nice return.
The stock price of GOGL dropped by -28.73% in the last 3 months. With lower prices the dividend yield is higher, but it may be a sign investors do not trust the long term dividend.
Compared to an average industry Dividend Yield of 35.46, GOGL pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.40, GOGL pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 13.93% |
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
GOGL pays out 184.66% of its income as dividend. This is not a sustainable payout ratio.
The dividend of GOGL is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP184.66%
EPS Next 2Y11.75%
EPS Next 3Y19.5%
OSL:GOGL (5/30/2025, 7:00:00 PM)
78.65
+5.4 (+7.37%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryMarine Transportation
Earnings (Last)
Earnings (Next)
Inst Owners39.02%
Inst Owner ChangeN/A
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap15.68B
Analysts78.33
Price Target120.42 (53.11%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 13.93% |
Yearly Dividend12.26
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)-10.99%
PT rev (3m)-29.4%
EPS NQ rev (1m)-28.06%
EPS NQ rev (3m)-44.77%
EPS NY rev (1m)-5.88%
EPS NY rev (3m)-36.92%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-8.82%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-7.59%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.56 | ||
| Fwd PE | 5.52 | ||
| P/S | 1.78 | ||
| P/FCF | 8.92 | ||
| P/OCF | 6.26 | ||
| P/B | 0.84 | ||
| P/tB | 0.84 | ||
| EV/EBITDA | 8.45 |
EPS(TTM)5.8
EY7.37%
EPS(NY)14.24
Fwd EY18.11%
FCF(TTM)8.82
FCFY11.21%
OCF(TTM)12.57
OCFY15.98%
SpS44.11
BVpS93.25
TBVpS93.25
PEG (NY)N/A
PEG (5Y)0.45
Profitability
| Industry Rank | Sector 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%
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 | 1.07 |
F-Score5
WACC7.31%
ROIC/WACC0.66
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-28%
EPS Next 2Y11.75%
EPS Next 3Y19.5%
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-10.75%
Revenue Next 2Y1.92%
Revenue Next 3Y3.8%
Revenue Next 5YN/A
EBIT growth 1Y-26.42%
EBIT growth 3Y-16.77%
EBIT growth 5Y23.81%
EBIT Next Year7.16%
EBIT Next 3Y15.36%
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%