Golden Ocean Group Ltd
NASDAQ:GOGL

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Golden Ocean Group Ltd Logo
Golden Ocean Group Ltd
NASDAQ:GOGL
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Price: 11.895 USD 1.67%
Market Cap: 2.4B USD
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Intrinsic Value

The intrinsic value of one GOGL stock under the Base Case scenario is 13.886 USD. Compared to the current market price of 11.895 USD, Golden Ocean Group Ltd is Undervalued by 14%.

The Intrinsic Value is calculated as the average of DCF and Relative values:

GOGL Intrinsic Value
13.886 USD
Undervaluation 14%
Intrinsic Value
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Golden Ocean Group Ltd

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Backtest Conclusion
Very Attractive
Current Valuation
+45%
Avg Valuation
-12%
Worst Valuation
-49%
Best Valuation
+45%

Stock is trading at its lowest valuation over the past 5 years.

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Fundamental Analysis

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Financials
Annual
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TTM

Balance Sheet Decomposition
Golden Ocean Group Ltd

Current Assets 284.5m
Cash & Short-Term Investments 99.5m
Other Current Assets 185m
Non-Current Assets 3.2B
PP&E 3.1B
Other Non-Current Assets 92m
Current Liabilities 243.4m
Accrued Liabilities 2.7m
Other Current Liabilities 240.7m
Non-Current Liabilities 1.3B
Long-Term Debt 1.3B
Other Non-Current Liabilities 10.3m
Efficiency

Earnings Waterfall
Golden Ocean Group Ltd

Revenue
972.7m USD
Cost of Revenue
-482.1m USD
Gross Profit
490.6m USD
Operating Expenses
-191m USD
Operating Income
299.6m USD
Other Expenses
-85.5m USD
Net Income
214.1m USD

Free Cash Flow Analysis
Golden Ocean Group Ltd

Last Value
3-Years Average
FCF Margin
Conversion Rate
Earnings Calls

Golden Ocean reported a Q2 2024 adjusted EBITDA of $120.3 million, up from $114.3 million in Q1. Net income was $62.5 million with EPS of $0.31. The company declared a $0.30 per share dividend. TCE rates reached $23,500 per day, driven by higher Capesize and Panamax rates. Q3 and Q4 TCE days were secured at favorable rates. Revenues stood at $196.7 million. Operating expenses rose due to increased dry-docking and investments in decarbonization and digitalization. Despite economic headwinds, Golden Ocean maintains strong cash flow and a robust fleet, positioning itself well for future growth and dividend potential.

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Fundamental Scores

GOGL Profitability Score
Profitability Due Diligence

Golden Ocean Group Ltd's profitability score is 60/100. The higher the profitability score, the more profitable the company is.

Positive Gross Profit
Positive Operating Income
Positive Net Income
Positive 3-Year Average ROE
60/100
Profitability
Score

Golden Ocean Group Ltd's profitability score is 60/100. The higher the profitability score, the more profitable the company is.

GOGL Solvency Score
Solvency Due Diligence

Golden Ocean Group Ltd's solvency score is 47/100. The higher the solvency score, the more solvent the company is.

Long-Term Solvency
Low D/E
Short-Term Solvency
Low Altman Z-Score
47/100
Solvency
Score

Golden Ocean Group Ltd's solvency score is 47/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

GOGL Price Targets Summary
Golden Ocean Group Ltd

Wall Street analysts forecast GOGL stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for GOGL is 16.543 USD with a low forecast of 14.039 USD and a high forecast of 18.795 USD.

Lowest
Price Target
14.039 USD
18% Upside
Average
Price Target
16.543 USD
39% Upside
Highest
Price Target
18.795 USD
58% Upside
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Shareholder Yield

Current shareholder yield for GOGL is .

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Golden Ocean Group Ltd Logo
Golden Ocean Group Ltd

Country

Bermuda

Industry

Marine

Market Cap

2.4B USD

Dividend Yield

8.41%

Description

Golden Ocean Group Ltd. engages in the ownership and operation of dry bulk vessels. The firm is engaged in the transportation of dry bulk cargoes. The company owns and operates a fleet of dry bulk carrier vessels, focusing on the Capesize, Panamax and Supramax markets. Its vessels transport a range of major and minor bulk commodities, including ores, coal, grains and fertilizers. Its fleet includes owned vessels, bareboat vessels, chartered vessels, commercial management vessels and newbuildings. The company owns over 40 dry bulk carriers and has contracts for over 20 newbuildings. The company also has over 10 vessels chartered-in (of which over eight are chartered in from Ship Finance and over five are chartered in from third parties) and over one vessel chartered-in through a joint venture. Approximately six of the vessels are chartered-out on fixed rate time charters and the other operates in the spot market or fixed on index-linked time charter contracts.

Contact

Hamilton
Par La Ville Place, 14 Par-La-Ville Road
+14412956935.0
www.goldenocean.no

IPO

1997-02-07

Employees

37

Officers

Interim CEO & CFO of Golden Ocean Management AS
Mr. Peder Carl Gram Simonsen
Head of Global Operations
Mr. Tord Brath

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What is the Intrinsic Value of one GOGL stock?

The intrinsic value of one GOGL stock under the Base Case scenario is 13.886 USD.

Is GOGL stock undervalued or overvalued?

Compared to the current market price of 11.895 USD, Golden Ocean Group Ltd is Undervalued by 14%.

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