GOLDEN OCEAN GROUP LTD (GOGL) Stock Fundamental Analysis
NASDAQ:GOGL - Nasdaq - BMG396372051 - Common Stock - Currency: USD
GOGL gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 32 industry peers in the Marine Transportation industry. Both the profitability and the financial health of GOGL get a neutral evaluation. Nothing too spectacular is happening here. GOGL has a decent growth rate and is not valued too expensively.
1. Profitability
1.1 Basic Checks
GOGL had positive earnings in the past year.
GOGL had a positive operating cash flow in the past year.
Of the past 5 years GOGL 4 years were profitable.
Each year in the past 5 years GOGL had a positive operating cash flow.
1.2 Ratios
The Return On Assets of GOGL (6.61%) is better than 62.50% of its industry peers.
GOGL has a Return On Equity (11.75%) which is in line with its industry peers.
GOGL has a better Return On Invested Capital (7.36%) than 62.50% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for GOGL is in line with the industry average of 8.27%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.61% | ||
| ROE | 11.75% | ||
| ROIC | 7.36% |
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
The Profit Margin of GOGL (23.05%) is comparable to the rest of the industry.
In the last couple of years the Profit Margin of GOGL has grown nicely.
GOGL has a better Operating Margin (30.25%) than 65.63% of its industry peers.
GOGL's Operating Margin has improved in the last couple of years.
GOGL has a Gross Margin (49.73%) 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 Rank | Sector Rank | ||
|---|---|---|---|
| OM | 30.25% | ||
| PM (TTM) | 23.05% | ||
| GM | 49.73% |
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
GOGL has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
The number of shares outstanding for GOGL remains at a similar level compared to 1 year ago.
Compared to 5 years ago, GOGL has more shares outstanding
GOGL has a better debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 1.34, we must say that GOGL is in the distress zone and has some risk of bankruptcy.
GOGL has a better Altman-Z score (1.34) than 62.50% of its industry peers.
GOGL has a debt to FCF ratio of 5.19. This is a neutral value as GOGL would need 5.19 years to pay back of all of its debts.
The Debt to FCF ratio of GOGL (5.19) is better than 65.63% of its industry peers.
A Debt/Equity ratio of 0.65 indicates that GOGL is somewhat dependend on debt financing.
GOGL has a Debt to Equity ratio of 0.65. This is comparable to the rest of the industry: GOGL outperforms 43.75% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.65 | ||
| Debt/FCF | 5.19 | ||
| Altman-Z | 1.34 |
ROIC/WACC1.01
WACC7.32%
2.3 Liquidity
GOGL has a Current Ratio of 1.22. This is a normal value and indicates that GOGL is financially healthy and should not expect problems in meeting its short term obligations.
GOGL has a Current ratio (1.22) which is comparable to the rest of the industry.
GOGL has a Quick Ratio of 1.06. This is a normal value and indicates that GOGL is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 1.06, GOGL is doing worse than 65.63% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.22 | ||
| Quick Ratio | 1.06 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 100.00% over the past year.
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 quite strong growth in Revenue. The Revenue has grown by 9.33% in the last year.
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)100%
EPS 3Y-23.79%
EPS 5Y30.14%
EPS Q2Q%-31.03%
Revenue 1Y (TTM)9.33%
Revenue growth 3Y-6.98%
Revenue growth 5Y6.53%
Sales Q2Q%7.23%
3.2 Future
The Earnings Per Share is expected to grow by 20.83% on average over the next years. This is a very strong growth
The Revenue is expected to grow by 3.80% on average over the next years.
EPS Next Y-23.5%
EPS Next 2Y12.58%
EPS Next 3Y20.83%
EPS Next 5YN/A
Revenue Next Year-10.75%
Revenue Next 2Y1.92%
Revenue Next 3Y3.8%
Revenue Next 5YN/A
3.3 Evolution
Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of 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
The Price/Earnings ratio is 6.89, which indicates a rather cheap valuation of GOGL.
GOGL's Price/Earnings ratio is in line with the industry average.
Compared to an average S&P500 Price/Earnings ratio of 28.88, GOGL is valued rather cheaply.
Based on the Price/Forward Earnings ratio of 9.01, the valuation of GOGL can be described as reasonable.
Based on the Price/Forward Earnings ratio, GOGL is valued a bit cheaper than 65.63% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 21.20, GOGL is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.89 | ||
| Fwd PE | 9.01 |
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 a bit cheaper when compared to the industry. GOGL is cheaper than 65.63% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 5.83 | ||
| EV/EBITDA | 6.38 |
4.3 Compensation for Growth
The decent profitability rating of GOGL may justify a higher PE ratio.
GOGL's earnings are expected to grow with 20.83% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)0.23
EPS Next 2Y12.58%
EPS Next 3Y20.83%
5. Dividend
5.1 Amount
GOGL has a Yearly Dividend Yield of 13.57%, which is a nice return.
GOGL's Dividend Yield is rather good when compared to the industry average which is at 10.39. GOGL pays more dividend than 90.63% of the companies in the same industry.
GOGL's Dividend Yield is rather good when compared to the S&P500 average which is at 2.45.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 13.57% |
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
GOGL pays out 107.48% 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.
DP107.48%
EPS Next 2Y12.58%
EPS Next 3Y20.83%
7.72
+0.05 (+0.65%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryMarine Transportation
Earnings (Last)
Earnings (Next)
Inst Owners39.02%
Inst Owner Change-1.09%
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap1.54B
Analysts81.54
Price Target12.41 (60.75%)
Short Float %6.8%
Short Ratio1.37
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 13.57% |
Yearly Dividend1.2
Dividend Growth(5Y)29.94%
DP107.48%
Div Incr Years1
Div Non Decr Years1
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-20.29%
Min EPS beat(2)-26.9%
Max EPS beat(2)-13.68%
EPS beat(4)2
Avg EPS beat(4)-3.75%
Min EPS beat(4)-26.9%
Max EPS beat(4)22.92%
EPS beat(8)6
Avg EPS beat(8)22.43%
EPS beat(12)9
Avg EPS beat(12)21.82%
EPS beat(16)13
Avg EPS beat(16)23.74%
Revenue beat(2)2
Avg Revenue beat(2)9.32%
Min Revenue beat(2)3.45%
Max Revenue beat(2)15.19%
Revenue beat(4)2
Avg Revenue beat(4)4.2%
Min Revenue beat(4)-1.42%
Max Revenue beat(4)15.19%
Revenue beat(8)5
Avg Revenue beat(8)9.12%
Revenue beat(12)9
Avg Revenue beat(12)19.56%
Revenue beat(16)13
Avg Revenue beat(16)24.04%
PT rev (1m)-3.18%
PT rev (3m)-18.44%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-166.85%
EPS NY rev (1m)0%
EPS NY rev (3m)-43.31%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-26.54%
Revenue NY rev (1m)-2.08%
Revenue NY rev (3m)-12.46%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.89 | ||
| Fwd PE | 9.01 | ||
| P/S | 1.59 | ||
| P/FCF | 5.83 | ||
| P/OCF | 4.21 | ||
| P/B | 0.81 | ||
| P/tB | 0.81 | ||
| EV/EBITDA | 6.38 |
EPS(TTM)1.12
EY14.51%
EPS(NY)0.86
Fwd EY11.1%
FCF(TTM)1.32
FCFY17.14%
OCF(TTM)1.83
OCFY23.73%
SpS4.86
BVpS9.53
TBVpS9.53
PEG (NY)N/A
PEG (5Y)0.23
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.61% | ||
| ROE | 11.75% | ||
| ROCE | 9.31% | ||
| ROIC | 7.36% | ||
| ROICexc | 7.67% | ||
| ROICexgc | 7.67% | ||
| OM | 30.25% | ||
| PM (TTM) | 23.05% | ||
| GM | 49.73% | ||
| FCFM | 27.25% |
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-Score8
Asset Turnover0.29
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.65 | ||
| Debt/FCF | 5.19 | ||
| Debt/EBITDA | 2.85 | ||
| Cap/Depr | 71.63% | ||
| Cap/Sales | 10.48% | ||
| Interest Coverage | 2.96 | ||
| Cash Conversion | 84.07% | ||
| Profit Quality | 118.2% | ||
| Current Ratio | 1.22 | ||
| Quick Ratio | 1.06 | ||
| Altman-Z | 1.34 |
F-Score8
WACC7.32%
ROIC/WACC1.01
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)100%
EPS 3Y-23.79%
EPS 5Y30.14%
EPS Q2Q%-31.03%
EPS Next Y-23.5%
EPS Next 2Y12.58%
EPS Next 3Y20.83%
EPS Next 5YN/A
Revenue 1Y (TTM)9.33%
Revenue growth 3Y-6.98%
Revenue growth 5Y6.53%
Sales Q2Q%7.23%
Revenue Next Year-10.75%
Revenue Next 2Y1.92%
Revenue Next 3Y3.8%
Revenue Next 5YN/A
EBIT growth 1Y53.2%
EBIT growth 3Y-16.77%
EBIT growth 5Y23.81%
EBIT Next Year12.55%
EBIT Next 3Y20.14%
EBIT Next 5YN/A
FCF growth 1Y224.92%
FCF growth 3Y31.74%
FCF growth 5Y18.21%
OCF growth 1Y37.16%
OCF growth 3Y-13.29%
OCF growth 5Y18.19%