Golden Ocean Group Limited (KT31) - Net Assets
Based on the latest financial reports, Golden Ocean Group Limited (KT31) has net assets worth €1.83 Billion EUR (≈ $2.13 Billion USD) as of March 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€3.39 Billion ≈ $3.97 Billion USD) and total liabilities (€1.57 Billion ≈ $1.83 Billion 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. Also explore Golden Ocean Group Limited asset portfolio for the complete picture of this company's asset base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €1.83 Billion |
| % of Total Assets | 53.8% |
| Annual Growth Rate | 8.54% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 17.94 |
Golden Ocean Group Limited - Net Assets Trend (2020–2024)
This chart illustrates how Golden Ocean Group Limited's net assets have evolved over time, based on quarterly financial data. For live valuation and market cap data, see Golden Ocean Group Limited market cap and net worth.
Annual Net Assets for Golden Ocean Group Limited (2020–2024)
The table below shows the annual net assets of Golden Ocean Group Limited from 2020 to 2024. Explore cash flow conversion of Golden Ocean Group Limited to assess how effectively this company generates cash.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | €1.90 Billion ≈ $2.22 Billion |
-1.14% |
| 2023-12-31 | €1.92 Billion ≈ $2.25 Billion |
+0.25% |
| 2022-12-31 | €1.92 Billion ≈ $2.24 Billion |
-0.61% |
| 2021-12-31 | €1.93 Billion ≈ $2.25 Billion |
+40.91% |
| 2020-12-31 | €1.37 Billion ≈ $1.60 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to Golden Ocean Group Limited'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 grown by 68757100000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | €320.85 Million | 16.89% |
| Other Components | €1.58 Billion | 83.11% |
| Total Equity | €1.90 Billion | 100.00% |
Golden Ocean Group Limited Competitors by Market Cap
The table below lists competitors of Golden Ocean Group Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Tong Yang Industry Co Ltd
TW:1319
|
$1.39 Billion |
|
Adapthealth Corp
NASDAQ:AHCO
|
$1.39 Billion |
|
Ennoconn Corp
TW:6414
|
$1.40 Billion |
|
Allegiant Travel Company
NASDAQ:ALGT
|
$1.40 Billion |
|
PNC Process Systems Co Ltd
SHG:603690
|
$1.39 Billion |
|
Huafa Industrial Co Ltd Zhuhai
SHG:600325
|
$1.39 Billion |
|
Sally Beauty Holdings Inc
NYSE:SBH
|
$1.39 Billion |
|
Aerospace Industrial Development Corp
TW:2634
|
$1.39 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Golden Ocean Group Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 1,921,891,000 to 1,899,977,000, a change of -21,914,000 (-1.1%).
- Net income of 223,214,000 contributed positively to equity growth.
- Dividend payments of 239,913,000 reduced retained earnings.
- Share repurchases of 5,737,000 reduced equity.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €223.21 Million | +11.75% |
| Dividends Paid | €239.91 Million | -12.63% |
| Share Repurchases | €5.74 Million | -0.3% |
| Other Changes | €522.00K | +0.03% |
| Total Change | €- | -1.14% |
Book Value vs Market Value Analysis
This analysis compares Golden Ocean Group Limited'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: 0.71x
- 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.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2020-12-31 | €9.55 | €6.79 | x |
| 2021-12-31 | €9.62 | €6.79 | x |
| 2022-12-31 | €9.56 | €6.79 | x |
| 2023-12-31 | €9.63 | €6.79 | x |
| 2024-12-31 | €9.53 | €6.79 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Golden Ocean Group Limited 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): 11.75%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 23.05%
- • Asset Turnover: 0.29x
- • Equity Multiplier: 1.78x
- Recent ROE (11.75%) is below the historical average (11.79%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2020 | -10.06% | -22.65% | 0.22x | 1.99x | €-274.54 Million |
| 2021 | 27.33% | 43.82% | 0.35x | 1.79x | €334.34 Million |
| 2022 | 24.09% | 41.48% | 0.34x | 1.70x | €270.14 Million |
| 2023 | 5.84% | 12.67% | 0.25x | 1.82x | €-79.92 Million |
| 2024 | 11.75% | 23.05% | 0.29x | 1.78x | €33.22 Million |
Industry Comparison
This section compares Golden Ocean Group Limited's net assets metrics with peer companies in the Marine Shipping industry.
Industry Context
- Industry: Marine Shipping
- Average net assets among peers: $15,606,987,038
- Average return on equity (ROE) among peers: 31.13%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Golden Ocean Group Limited (KT31) | €1.83 Billion | -10.06% | 0.86x | $1.39 Billion |
| 2020 Bulkers Ltd. (0FF) | $151.70 Million | 46.67% | 1.57x | $9.47 Million |
| Qingdao Port International Co. Ltd (0QP) | $38.78 Billion | 10.22% | 0.56x | $1.04 Billion |
| ZIM Integrated Shipping Services Ltd. (2SV) | $4.60 Billion | 100.89% | 1.14x | $3.05 Billion |
| HAV GROUP ASA (6HH) | $152.48 Million | 49.65% | 2.86x | $28.14 Million |
| Ardmore Shipping Corporation (A61) | $347.61 Million | 9.19% | 1.24x | $534.92 Million |
| BW LPG Limited (BW9) | $1.60 Billion | 14.24% | 0.60x | $2.25 Billion |
| COSCO SHIPPING Holdings Co. Ltd (C6G) | $42.11 Billion | 0.56% | 2.84x | $5.09 Billion |
| A.P.MOELL-M.B U.ADR 1/200 (DP4H) | $65.03 Billion | 44.90% | 0.44x | $11.30 Billion |
| PERFORMANCE SHIPP. (DS2) | $275.24 Million | 15.89% | 0.20x | $19.94 Million |
| DANAOS CORP. DL -01 (DVW1) | $3.02 Billion | 19.11% | 0.21x | $1.82 Billion |
About Golden Ocean Group Limited
Golden Ocean Group Limited owns and operates a fleet of dry bulk vessels. The company also transports bulk commodities, including ores, coal, grains, and fertilizers. Golden Ocean Group Limited was formerly knowns as Knightsbridge Shipping Limited and changed its name to Golden Ocean Group Limited in March 2015. The company incorporated in 1996 and is headquartered in Hamilton, Bermuda. As of Aug… Read more