Golden Ocean Group Ltd (GOGL) - Net Assets

Latest as of March 2025: Nkr1.83 Billion NOK ≈ $192.14 Million USD

Based on the latest financial reports, Golden Ocean Group Ltd (GOGL) has net assets worth Nkr1.83 Billion NOK (≈ $192.14 Million USD) as of March 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Nkr3.39 Billion ≈ $357.11 Million USD) and total liabilities (Nkr1.57 Billion ≈ $164.97 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. Also explore Golden Ocean Group Ltd assets under control for the complete picture of this company's asset base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Nkr1.83 Billion
% of Total Assets	53.8%
Annual Growth Rate	6.88%
5-Year Change	38.81%
10-Year Change	63.98%
Growth Volatility	38.7

Golden Ocean Group Ltd - Net Assets Trend (1997–2024)

This chart illustrates how Golden Ocean Group Ltd's net assets have evolved over time, based on quarterly financial data. For live valuation and market cap data, see how much is Golden Ocean Group Ltd worth.

Annual Net Assets for Golden Ocean Group Ltd (1997–2024)

The table below shows the annual net assets of Golden Ocean Group Ltd from 1997 to 2024. Explore GOGL cash flow metrics to assess how effectively this company generates cash.

Year	Net Assets	Change
2024-12-31	Nkr1.90 Billion ≈ $199.93 Million	-1.14%
2023-12-31	Nkr1.92 Billion ≈ $202.24 Million	+0.25%
2022-12-31	Nkr1.92 Billion ≈ $201.73 Million	-0.61%
2021-12-31	Nkr1.93 Billion ≈ $202.96 Million	+40.91%
2020-12-31	Nkr1.37 Billion ≈ $144.03 Million	-9.56%
2019-12-31	Nkr1.51 Billion ≈ $159.25 Million	-0.66%
2018-12-31	Nkr1.52 Billion ≈ $160.32 Million	+1.97%
2017-12-31	Nkr1.49 Billion ≈ $157.22 Million	+20.61%
2016-12-31	Nkr1.24 Billion ≈ $130.35 Million	+6.91%
2015-12-31	Nkr1.16 Billion ≈ $121.92 Million	+31.03%
2014-12-31	Nkr884.27 Million ≈ $93.05 Million	+187.62%
2013-12-31	Nkr307.44 Million ≈ $32.35 Million	+10.71%
2012-12-31	Nkr277.69 Million ≈ $29.22 Million	-22.85%
2011-12-31	Nkr359.93 Million ≈ $37.88 Million	-4.25%
2010-12-31	Nkr375.90 Million ≈ $39.56 Million	+56.81%
2009-12-31	Nkr239.71 Million ≈ $25.22 Million	+7.83%
2008-12-31	Nkr222.31 Million ≈ $23.39 Million	+0.47%
2007-12-31	Nkr221.28 Million ≈ $23.28 Million	+23.49%
2006-12-31	Nkr179.19 Million ≈ $18.86 Million	-8.12%
2005-12-31	Nkr195.03 Million ≈ $20.52 Million	-14.78%
2004-12-31	Nkr228.87 Million ≈ $24.08 Million	+6.19%
2003-12-31	Nkr215.53 Million ≈ $22.68 Million	+3.30%
2002-12-31	Nkr208.64 Million ≈ $21.95 Million	-8.92%
2001-12-31	Nkr229.08 Million ≈ $24.11 Million	-17.37%
2000-12-31	Nkr277.22 Million ≈ $29.17 Million	+1.18%
1999-12-31	Nkr273.98 Million ≈ $28.83 Million	-6.23%
1998-12-31	Nkr292.19 Million ≈ $30.75 Million	-7.29%
1997-12-31	Nkr315.16 Million ≈ $33.16 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Golden Ocean Group 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 grown by 32084900000.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2024)

Component	Amount	Percentage
Retained Earnings	Nkr320.85 Million	16.89%
Other Components	Nkr1.58 Billion	83.11%
Total Equity	Nkr1.90 Billion	100.00%

Golden Ocean Group Ltd Competitors by Market Cap

The table below lists competitors of Golden Ocean Group Ltd ranked by their market capitalization.

Company	Market Cap
Bumitama Agri Ltd F:2BU	$1.75 Billion
Xuzhou Handler Special Vehicle Co Ltd SHE:300201	$1.75 Billion
Jamf Holding NASDAQ:JAMF	$1.75 Billion
Zydus Wellness Limited NSE:ZYDUSWELL	$1.75 Billion
Antin IP SA PA:ANTIN	$1.75 Billion
Okeanis Eco Tankers Corp OL:OET	$1.74 Billion
Elvalhalcor Hellenic Copper and Aluminium Industry S.A AT:ELHA	$1.74 Billion
Minmetals Development Co Ltd SHG:600058	$1.74 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Golden Ocean Group Ltd'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	Nkr223.21 Million	+11.75%
Dividends Paid	Nkr239.91 Million	-12.63%
Share Repurchases	Nkr5.74 Million	-0.3%
Other Changes	Nkr522.00K	+0.03%
Total Change	Nkr-	-1.14%

Book Value vs Market Value Analysis

This analysis compares Golden Ocean Group 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: 8.74x
The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
The price-to-book ratio has increased from 0.70x to 8.74x over the analyzed period, suggesting growing market confidence.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
1997-12-31	Nkr119.27	Nkr83.25	x
1998-12-31	Nkr78.68	Nkr83.25	x
1999-12-31	Nkr73.77	Nkr83.25	x
2000-12-31	Nkr74.64	Nkr83.25	x
2001-12-31	Nkr61.68	Nkr83.25	x
2002-12-31	Nkr56.18	Nkr83.25	x
2003-12-31	Nkr58.03	Nkr83.25	x
2004-12-31	Nkr61.63	Nkr83.25	x
2005-12-31	Nkr52.49	Nkr83.25	x
2006-12-31	Nkr48.19	Nkr83.25	x
2007-12-31	Nkr59.57	Nkr83.25	x
2008-12-31	Nkr59.85	Nkr83.25	x
2009-12-31	Nkr64.34	Nkr83.25	x
2010-12-31	Nkr90.68	Nkr83.25	x
2011-12-31	Nkr67.43	Nkr83.25	x
2012-12-31	Nkr52.41	Nkr83.25	x
2013-12-31	Nkr54.40	Nkr83.25	x
2014-12-31	Nkr156.48	Nkr83.25	x
2015-12-31	Nkr35.27	Nkr83.25	x
2016-12-31	Nkr13.01	Nkr83.25	x
2017-12-31	Nkr11.95	Nkr83.25	x
2018-12-31	Nkr10.57	Nkr83.25	x
2019-12-31	Nkr10.55	Nkr83.25	x
2020-12-31	Nkr9.54	Nkr83.25	x
2021-12-31	Nkr9.99	Nkr83.25	x
2022-12-31	Nkr9.56	Nkr83.25	x
2023-12-31	Nkr9.63	Nkr83.25	x
2024-12-31	Nkr9.53	Nkr83.25	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Golden Ocean Group 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): 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 above the historical average (9.63%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
1997	6.18%	46.23%	0.09x	1.45x	Nkr-12.04 Million
1998	5.95%	38.60%	0.11x	1.47x	Nkr-11.83 Million
1999	4.59%	31.22%	0.10x	1.47x	Nkr-14.83 Million
2000	17.58%	63.83%	0.19x	1.46x	Nkr21.00 Million
2001	14.81%	55.12%	0.17x	1.60x	Nkr11.01 Million
2002	6.02%	31.16%	0.12x	1.67x	Nkr-8.31 Million
2003	22.02%	63.07%	0.22x	1.62x	Nkr25.91 Million
2004	37.51%	63.26%	0.37x	1.60x	Nkr62.95 Million
2005	22.54%	43.89%	0.31x	1.66x	Nkr24.46 Million
2006	25.51%	43.24%	0.35x	1.68x	Nkr27.80 Million
2007	38.34%	96.23%	0.26x	1.55x	Nkr62.71 Million
2008	21.62%	57.96%	0.25x	1.49x	Nkr25.82 Million
2009	9.04%	32.20%	0.18x	1.56x	Nkr-2.29 Million
2010	10.26%	40.21%	0.18x	1.44x	Nkr966.90K
2011	9.07%	34.55%	0.18x	1.45x	Nkr-3.34 Million
2012	-19.24%	-143.18%	0.09x	1.43x	Nkr-81.20 Million
2013	-1.27%	-10.40%	0.09x	1.33x	Nkr-34.65 Million
2014	1.81%	16.54%	0.08x	1.43x	Nkr-72.43 Million
2015	-19.06%	-116.09%	0.09x	1.88x	Nkr-336.70 Million
2016	-10.31%	-49.54%	0.11x	1.91x	Nkr-251.58 Million
2017	-0.16%	-0.51%	0.16x	1.92x	Nkr-151.75 Million
2018	5.55%	12.89%	0.22x	1.94x	Nkr-67.82 Million
2019	2.46%	5.27%	0.24x	1.96x	Nkr-114.15 Million
2020	-10.06%	-22.65%	0.22x	1.99x	Nkr-274.54 Million
2021	27.33%	43.82%	0.35x	1.79x	Nkr334.34 Million
2022	24.09%	41.48%	0.34x	1.70x	Nkr270.14 Million
2023	5.84%	12.67%	0.25x	1.82x	Nkr-79.92 Million
2024	11.75%	23.05%	0.29x	1.78x	Nkr33.22 Million

Industry Comparison

This section compares Golden Ocean Group Ltd's net assets metrics with peer companies in the Marine Shipping industry.

Industry Context

Industry: Marine Shipping
Average net assets among peers: $524,427,556
Average return on equity (ROE) among peers: -0.85%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Golden Ocean Group Ltd (GOGL)	Nkr1.83 Billion	6.18%	0.86x	$1.75 Billion
2020 Bulkers Ltd (2020)	$151.90 Million	50.23%	0.76x	$7.25 Million
ADS Maritime Holding Plc (ADS)	$55.99 Million	0.00%	0.65x	$18.68 Million
American Shipping Company ASA (AMSC)	$72.80 Million	42.46%	11.81x	$7.19K
BW LPG Ltd (BWLPG)	$1.93 Billion	12.58%	0.64x	$2.96 Billion
Golden Energy Offshore Services AS (GEOS)	$71.31 Million	-140.83%	3.12x	$58.11 Million
Hafnia Ltd (HAFNI)	$554.11 Million	12.24%	1.45x	$4.30 Billion
Hoegh Autoliners ASA (HAUTO)	$671.70 Million	-9.37%	1.29x	$2.66 Billion
Havila Shipping ASA (HAVI)	$1.13 Billion	27.25%	2.90x	$32.72 Million
Himalaya Shipping Ltd (HSHP)	$90.69 Million	-2.21%	0.97x	$623.43 Million

About Golden Ocean Group Ltd

OL:GOGL Norway Marine Shipping

Market Cap

$1.75 Billion

Nkr16.60 Billion NOK

Market Cap Rank

#6762 Global

#50 in Norway

Share Price

Nkr83.25

Change (1 day)

+1.15%

52-Week Range

Nkr72.55 - Nkr91.25

All Time High

Nkr159.03