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NORTHERN OCEAN LTD (NOL.OL) Stock Fundamental Analysis

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

6.35  +0.35 (+5.83%)

Fundamental Rating

2

NOL gets a fundamental rating of 2 out of 10. The analysis compared the fundamentals against 35 industry peers in the Energy Equipment & Services industry. NOL has a bad profitability rating. Also its financial health evaluation is rather negative. 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.
In the past year NOL has reported a negative cash flow from operations.
In the past 5 years NOL always reported negative net income.
In the past 5 years NOL reported 4 times negative operating cash flow.
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

NOL has a worse Return On Assets (-6.36%) than 88.57% of its industry peers.
NOL has a worse Return On Equity (-14.72%) than 91.43% of its industry peers.
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 has a Gross Margin (21.81%) which 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 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.
The number of shares outstanding for NOL has been increased compared to 1 year ago.
The number of shares outstanding for NOL has been increased compared to 5 years ago.
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 0.07. 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 0.07, NOL is in line with its industry, outperforming 57.14% of the companies in the same industry.
NOL has a Debt/Equity ratio of 1.16. This is a high value indicating a heavy dependency on external financing.
NOL has a worse Debt to Equity ratio (1.16) than 68.57% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.16
Debt/FCF N/A
Altman-Z 0.07
ROIC/WACCN/A
WACC4.25%
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

A Current Ratio of 1.53 indicates that NOL should not have too much problems paying its short term obligations.
NOL has a Current ratio of 1.53. This is comparable to the rest of the industry: NOL outperforms 51.43% of its industry peers.
NOL has a Quick 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 Quick ratio of 1.53 is fine compared to the rest of the industry. NOL outperforms 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.
Looking at the last year, NOL shows a quite strong growth in Revenue. The Revenue has grown by 11.37% in the last year.
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.
Based on estimates for the next years, NOL will show a small growth in Revenue. The Revenue will grow by 4.50% on average per year.
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.
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 5 10 15 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 71.43% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 16.98
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

A more expensive valuation may be justified as NOL's earnings are expected to grow with 30.78% in the coming years.
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

No dividends for NOL!.
Industry RankSector Rank
Dividend Yield N/A

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NORTHERN OCEAN LTD

OSL:NOL (5/6/2025, 7:00:00 PM)

6.35

+0.35 (+5.83%)

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 Cap1.93B
Analysts80
Price Target11.22 (76.69%)
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)0%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-100%
EPS NY rev (1m)0.41%
EPS NY rev (3m)-166.67%
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 0.71
P/FCF N/A
P/OCF N/A
P/B 0.42
P/tB 0.42
EV/EBITDA 16.98
EPS(TTM)-3.31
EYN/A
EPS(NY)-1.67
Fwd EYN/A
FCF(TTM)-2.55
FCFYN/A
OCF(TTM)-0.66
OCFYN/A
SpS8.99
BVpS15.2
TBVpS15.2
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 0.07
F-Score5
WACC4.25%
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