NORTHERN OCEAN LTD. (4JO) - Net Assets
Based on the latest financial reports, NORTHERN OCEAN LTD. (4JO) has net assets worth €320.03 Million EUR (≈ $374.15 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€471.86 Million ≈ $551.65 Million USD) and total liabilities (€151.82 Million ≈ $177.50 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. For live market cap and overall valuation, see how much is NORTHERN OCEAN LTD. worth.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €320.03 Million |
| % of Total Assets | 67.82% |
| Annual Growth Rate | -8.66% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 10.68 |
NORTHERN OCEAN LTD. - Net Assets Trend (2021–2025)
This chart illustrates how NORTHERN OCEAN LTD.'s net assets have evolved over time, based on quarterly financial data.
Annual Net Assets for NORTHERN OCEAN LTD. (2021–2025)
The table below shows the annual net assets of NORTHERN OCEAN LTD. from 2021 to 2025. See debt-free asset ratio of NORTHERN OCEAN LTD. to measure how much of total assets are equity-financed.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | €345.05 Million ≈ $403.40 Million |
-22.66% |
| 2024-12-31 | €446.16 Million ≈ $521.61 Million |
+2.12% |
| 2023-12-31 | €436.89 Million ≈ $510.78 Million |
-13.79% |
| 2022-12-31 | €506.80 Million ≈ $592.50 Million |
+2.25% |
| 2021-12-31 | €495.63 Million ≈ $579.45 Million |
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Equity Component Analysis
This analysis shows how different components contribute to NORTHERN OCEAN LTD.'s total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 33211000000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | €733.32 Million | 212.53% |
| Total Equity | €345.05 Million | 100.00% |
NORTHERN OCEAN LTD. Competitors by Market Cap
The table below lists competitors of NORTHERN OCEAN LTD. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
HARIM Co. Ltd
KQ:136480
|
$192.86 Million |
|
Kwong Lung Enterprise Co Ltd
TWO:8916
|
$192.87 Million |
|
Nova Minerals Ltd
AU:NVA
|
$192.89 Million |
|
Scottish Mortgage Investment Trust plc
LSE:SMT
|
$192.98 Million |
|
Mulia Boga Raya PT
JK:KEJU
|
$192.82 Million |
|
STILLFRONT GRP AB SK-07
F:1YS0
|
$192.76 Million |
|
Orient Group Inc
SHG:600811
|
$192.74 Million |
|
Doosan Co Ltd
KO:000157
|
$192.73 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in NORTHERN OCEAN LTD.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 446,164,000 to 345,051,000, a change of -101,113,000 (-22.7%).
- Net loss of 102,665,000 reduced equity.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €-102.67 Million | -29.75% |
| Other Changes | €1.55 Million | +0.45% |
| Total Change | €- | -22.66% |
Book Value vs Market Value Analysis
This analysis compares NORTHERN OCEAN LTD.'s book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.57x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has increased from 0.10x to 0.57x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2021-12-31 | €6.40 | €0.64 | x |
| 2022-12-31 | €2.79 | €0.64 | x |
| 2023-12-31 | €2.39 | €0.64 | x |
| 2024-12-31 | €1.47 | €0.64 | x |
| 2025-12-31 | €1.14 | €0.64 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently NORTHERN OCEAN LTD. utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -29.75%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -36.74%
- • Asset Turnover: 0.55x
- • Equity Multiplier: 1.47x
- Recent ROE (-29.75%) is below the historical average (-16.25%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2021 | -2.22% | -16.27% | 0.07x | 1.97x | €-60.59 Million |
| 2022 | -18.33% | -428.82% | 0.02x | 2.08x | €-143.57 Million |
| 2023 | -16.23% | -29.92% | 0.22x | 2.42x | €-114.59 Million |
| 2024 | -14.72% | -24.88% | 0.26x | 2.31x | €-110.27 Million |
| 2025 | -29.75% | -36.74% | 0.55x | 1.47x | €-137.17 Million |
Industry Comparison
This section compares NORTHERN OCEAN LTD.'s net assets metrics with peer companies in the Oil & Gas Drilling industry.
Industry Context
- Industry: Oil & Gas Drilling
- Average net assets among peers: $6,189,793,618
- Average return on equity (ROE) among peers: 2.16%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| NORTHERN OCEAN LTD. (4JO) | €320.03 Million | -2.22% | 0.47x | $192.84 Million |
| Daldrup & Söhne Aktiengesellschaft (4DS) | $46.10 Million | 0.50% | 1.21x | $129.31 Million |
| Nabors Industries Ltd (NBI1) | $3.25 Billion | -31.64% | 1.52x | $1.25 Billion |
| ODFJELL TECHNOLOGYLTD (ND4) | $1.38 Billion | 18.41% | 2.04x | $242.70 Million |
| ODFJELL DRILL.LTD. DL-01 (OD3) | $1.39 Billion | 15.93% | 0.66x | $2.18 Billion |
| WESTERN ENERGY SRV. NEW (W1T) | $302.53 Million | 9.59% | 0.57x | $61.95 Million |
| Sinopec Oilfield Service Corporation (YIZH) | $30.77 Billion | 0.20% | 2.01x | $382.66 Million |
About NORTHERN OCEAN LTD.
Northern Ocean Ltd. provides offshore contract drilling services for the oil and gas industry worldwide. The company owns and operates one semi-submersible rig. It also invests in power generation solutions. The company offers integrated drilling services, including rig preparation, mobilization, demobilization, and add-on services. The company was incorporated in 2017 and is based in Hamilton, B… Read more