Northern Ocean Ltd (NOL) - Net Assets
Based on the latest financial reports, Northern Ocean Ltd (NOL) has net assets worth Nkr395.01 Million NOK (≈ $41.57 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Nkr1.06 Billion ≈ $111.27 Million USD) and total liabilities (Nkr662.45 Million ≈ $69.71 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 how large is Northern Ocean Ltd's balance sheet for the complete picture of this company's asset base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | Nkr395.01 Million |
| % of Total Assets | 37.35% |
| Annual Growth Rate | N/A |
| 5-Year Change | -12.01% |
| 10-Year Change | N/A |
| Growth Volatility | 6.03 |
Northern Ocean Ltd - Net Assets Trend (2018–2024)
This chart illustrates how Northern Ocean Ltd's net assets have evolved over time, based on quarterly financial data. Check NOL goodwill-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Annual Net Assets for Northern Ocean Ltd (2018–2024)
The table below shows the annual net assets of Northern Ocean Ltd from 2018 to 2024. For live valuation and market cap data, see Northern Ocean Ltd (NOL) total market value.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | Nkr446.16 Million ≈ $46.95 Million |
+2.12% |
| 2023-12-31 | Nkr436.89 Million ≈ $45.97 Million |
-13.79% |
| 2022-12-31 | Nkr506.80 Million ≈ $53.33 Million |
+2.25% |
| 2021-12-31 | Nkr495.63 Million ≈ $52.15 Million |
-2.26% |
| 2020-12-31 | Nkr507.07 Million ≈ $53.36 Million |
-6.64% |
| 2019-12-31 | Nkr543.12 Million ≈ $57.15 Million |
+138652.04% |
| 2018-12-31 | Nkr-392.00K ≈ $-41.25K |
-- |
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 28521200000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | Nkr151.61 Million | 33.98% |
| Other Components | Nkr580.16 Million | 130.03% |
| Total Equity | Nkr446.16 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 |
|---|---|
|
Beijing Baolande Software Corp
SHG:688058
|
$239.37 Million |
|
Fynske Bank A/S
CO:FYNBK
|
$239.57 Million |
|
Viking Acquisition Corp. I
NYSE:VACI
|
$239.68 Million |
|
Skymoons Technology Inc.
KQ:033790
|
$239.80 Million |
|
Range Capital Acquisition Corp II Class A Ordinary Shares
NASDAQ:RNGT
|
$239.20 Million |
|
Comefly Outdoor Co Ltd
SHG:603908
|
$239.16 Million |
|
Citizens Inc
NYSE:CIA
|
$239.12 Million |
|
Prakash Industries Limited
NSE:PRAKASH
|
$238.99 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 2023 to 2024, total equity changed from 436,895,000 to 446,164,000, a change of 9,269,000 (2.1%).
- Net loss of 65,657,000 reduced equity.
- Share repurchases of 59,598,000 reduced equity.
- New share issuances of 59,598,000 increased equity.
- Other factors increased equity by 74,926,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Nkr-65.66 Million | -14.72% |
| Share Repurchases | Nkr59.60 Million | -13.36% |
| Share Issuances | Nkr59.60 Million | +13.36% |
| Other Changes | Nkr74.93 Million | +16.79% |
| Total Change | Nkr- | 2.12% |
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: 5.10x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2018-12-31 | Nkr-0.01 | Nkr7.50 | x |
| 2019-12-31 | Nkr4.33 | Nkr7.50 | x |
| 2020-12-31 | Nkr7.95 | Nkr7.50 | x |
| 2021-12-31 | Nkr6.43 | Nkr7.50 | x |
| 2022-12-31 | Nkr2.79 | Nkr7.50 | x |
| 2023-12-31 | Nkr2.39 | Nkr7.50 | x |
| 2024-12-31 | Nkr1.47 | Nkr7.50 | 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): -14.72%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -24.88%
- • Asset Turnover: 0.26x
- • Equity Multiplier: 2.31x
- Recent ROE (-14.72%) is below the historical average (-10.26%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2018 | 0.00% | 0.00% | 0.00x | 0.00x | Nkr-346.80K |
| 2019 | -1.52% | -58.61% | 0.01x | 2.03x | Nkr-62.55 Million |
| 2020 | -7.20% | -38.59% | 0.08x | 2.24x | Nkr-87.22 Million |
| 2021 | -13.84% | -101.21% | 0.07x | 1.97x | Nkr-118.16 Million |
| 2022 | -18.33% | -428.82% | 0.02x | 2.08x | Nkr-143.57 Million |
| 2023 | -16.23% | -29.92% | 0.22x | 2.42x | Nkr-114.59 Million |
| 2024 | -14.72% | -24.88% | 0.26x | 2.31x | Nkr-110.27 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: $443,153,772
- Average return on equity (ROE) among peers: -120.75%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Northern Ocean Ltd (NOL) | Nkr395.01 Million | 0.00% | 1.68x | $239.30 Million |
| Awilco Drilling PLC (AWDR) | $10.90 Million | -662.71% | 1.41x | $2.60 Million |
| Dolphin Drilling AS (DDRIL) | $765.21 Million | -18.30% | 0.97x | $468.17 Million |
| Deep Value Driller AS (DVD) | $32.22 Million | -75.42% | 3.39x | $202.54 Million |
| Odfjell Drilling Ltd (ODL) | $1.15 Billion | 8.88% | 1.43x | $2.30 Billion |
| Odfjell Technology Ltd (OTL) | $325.22 Million | 67.54% | 0.22x | $241.27 Million |
| PARATUS ENERGY SERVICES LTD (PLSV) | $139.00 Million | -154.68% | 3.93x | $814.27 Million |
| Shelf Drilling Ltd (SHLF) | $675.22 Million | -10.55% | 1.49x | $498.91 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 two semi-submersible rigs. It also invests in power generation solutions. The company was incorporated in 2017 and is based in Hamilton, Bermuda. Northern Ocean Ltd. is a subsidiary of Hemen Holding Limited.