Northern Ocean Ltd.

OB:NOL Stock Report

Market Cap: NOK 2.6b

Northern Ocean Valuation

Is NOL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of NOL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

NOK 5.66
Fair Value
51.3% overvalued intrinsic discount
1
Number of Analysts

Below Fair Value: NOL (NOK8.56) is trading above our estimate of fair value (NOK5.66)

Significantly Below Fair Value: NOL is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NOL?

Key metric: As NOL is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for NOL. This is calculated by dividing NOL's market cap by their current revenue.
What is NOL's PS Ratio?
PS Ratio1.1x
SalesUS$223.47m
Market CapUS$256.76m

Price to Sales Ratio vs Peers

How does NOL's PS Ratio compare to its peers?

The above table shows the PS ratio for NOL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.1x
ARCH Archer
0.2x6.32%NOK 2.3b
OTL Odfjell Technology
0.4x-0.78%NOK 2.2b
VTURA Ventura Offshore Holding
0.5x-10.20%NOK 2.1b
DVD Deep Value Driller
3.4x-9.53%NOK 2.0b
NOL Northern Ocean
1.1x11.53%NOK 2.6b

Price-To-Sales vs Peers: NOL is expensive based on its Price-To-Sales Ratio (1.1x) compared to the peer average (1.1x).

Price to Sales Ratio vs Industry

How does NOL's PS Ratio compare vs other companies in the NO Energy Services Industry?

1 CompanyPrice / SalesEstimated GrowthMarket Cap
EMGS Electromagnetic Geoservices
0.1xn/aUS$3.50m
No more companies available in this PS range
NOL 1.1xIndustry Avg. 1.1xNo. of Companies4PS00.61.21.82.43+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: NOL is expensive based on its Price-To-Sales Ratio (1.1x) compared to the Norwegian Energy Services industry average (1.1x).

Price to Sales Ratio vs Fair Ratio

What is NOL's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NOL PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.1x
Fair PS Ratio0.5x

Price-To-Sales vs Fair Ratio: NOL is expensive based on its Price-To-Sales Ratio (1.1x) compared to the estimated Fair Price-To-Sales Ratio (0.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

NOK 7
Fair Value
22.3% overvalued intrinsic discount
1
Number of Analysts

Analyst Forecast: Insufficient data to show price forecast.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/12/07 03:28
End of Day Share Price 2025/12/05 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Northern Ocean Ltd. is covered by 5 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Steffen EvjenDanske Bank
Truls OlsenFearnley Securities
Janne KvernlandNordea Markets