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.
Northern Ocean Ltd (NTNOF) - Total Assets
Latest total assets as of September 2025: $1.06 Billion USD
Based on the latest financial reports, Northern Ocean Ltd (NTNOF) holds total assets worth $1.06 Billion USD as of September 2025.
Total assets represent everything the company owns and controls, combining both current assets—like cash and cash equivalents, accounts receivable, and inventories—and non-current assets such as property, plant, equipment (PP&E), intangible assets, and long-term investments.
Northern Ocean Ltd - Total Assets Trend (2019–2024)
This chart illustrates how Northern Ocean Ltd’s total assets have evolved over time, based on quarterly financial data. Explore and compare other companies by total assets.
Northern Ocean Ltd - Asset Composition Analysis
Current Asset Composition (December 2024)
Northern Ocean Ltd's total assets of $1.06 Billion consist of 9.9% current assets and 90.1% non-current assets.
| Asset Category | Amount (USD) | % of Total Assets |
|---|---|---|
| Cash & Equivalents | $0.00 | 4.1% |
| Accounts Receivable | $54.97 Million | 5.3% |
| Inventory | $344.00K | 0.0% |
| Property, Plant & Equipment | $0.00 | 0.0% |
| Intangible Assets | $0.00 | 0.0% |
| Goodwill | $0.00 | 0.0% |
Asset Composition Trend (2019–2024)
This chart illustrates how Northern Ocean Ltd's asset composition has evolved over time. Understanding changes in asset allocation can provide insights into the company's strategic shifts, capital allocation priorities, and business focus evolution.
Key Asset Composition Facts
- Current vs. Non-Current Assets: Northern Ocean Ltd's current assets represent 9.9% of total assets in 2024, an increase from 8.7% in 2019.
- Cash Position: Cash and equivalents constituted 4.1% of total assets in 2024, down from 4.9% in 2019.
- Tangible vs. Intangible: Intangible assets (including goodwill) make up 0.0% of total assets, unchanged from 0.0% in 2019.
- Asset Diversification: The largest asset category is accounts receivable at 5.3% of total assets.
Northern Ocean Ltd Competitors by Total Assets
Key competitors of Northern Ocean Ltd based on total assets are shown below.
| Company | Country | Total Assets |
|---|---|---|
|
Aban Offshore Limited
NSE:ABAN
|
India | ₹16.43 Billion |
|
XinJiang Beiken Energy Engineering Stock Co Ltd
SHE:002828
|
China | CN¥1.85 Billion |
|
Daldrup & Söhne Aktiengesellschaft
F:4DS
|
Germany | €37.46 Million |
|
Velesto Energy Bhd
KLSE:5243
|
Malaysia | RM2.85 Billion |
|
ARCHER
F:8SW
|
Germany | €1.07 Billion |
|
ACT Energy Technologies Ltd.
TO:ACX
|
Canada | CA$458.00 Million |
|
Agri-Dynamics Inc
PINK:AGDY
|
USA | $144.28K |
|
AKITA Drilling Ltd
PINK:AKTAF
|
USA | $258.01 Million |
Northern Ocean Ltd - Asset Efficiency Metrics
Asset efficiency metrics measure how effectively a company uses its assets to generate revenue and profits. These indicators help investors evaluate management's ability to deploy capital efficiently.
Asset Turnover Ratio
Measures how efficiently a company uses its assets to generate sales
Lower asset utilization - Northern Ocean Ltd generates 0.26x its asset value in annual revenue.
Return on Assets (ROA)
Measures how efficiently a company uses its assets to generate profits
Negative ROA - Northern Ocean Ltd is currently not profitable relative to its asset base.
Northern Ocean Ltd - Liquidity and Working Capital Analysis
Liquidity ratios measure a company's ability to pay off its short-term debts as they come due, using the company's current or quick assets. Working capital represents the operational liquidity available.
Key Liquidity Metrics
| Metric | Current | 1 Year Ago | 5 Years Ago |
|---|---|---|---|
| Current Ratio | 0.26 | 1.62 | 0.18 |
| Quick Ratio | 0.26 | 1.57 | 0.18 |
| Cash Ratio | 0.00 | 0.00 | 0.00 |
| Working Capital | $-289.74 Million | $ 40.30 Million | $ -283.86 Million |
Northern Ocean Ltd - Advanced Valuation Insights
This section examines the relationship between Northern Ocean Ltd's asset base and its market valuation, helping to identify whether the company's assets are efficiently translated into market value.
Key Valuation Metrics
| Current Price-to-Book Ratio | 0.40 |
| Latest Market Cap to Assets Ratio | 0.06 |
| Asset Growth Rate (YoY) | -2.3% |
| Total Assets | $1.03 Billion |
| Market Capitalization | $57.52 Million USD |
Valuation Analysis
Below Book Valuation: The market values Northern Ocean Ltd's assets below their book value (0.06 x), which may indicate investor concerns about asset quality or future growth.
Slight Asset Contraction: Northern Ocean Ltd's assets decreased by 2.3% over the past year, which may reflect streamlining or optimization of resources.
Annual Total Assets for Northern Ocean Ltd (2019–2024)
The table below shows the annual total assets of Northern Ocean Ltd from 2019 to 2024.
| Year | Total Assets | Change |
|---|---|---|
| 2024-12-31 | $1.03 Billion | -2.29% |
| 2023-12-31 | $1.06 Billion | +0.19% |
| 2022-12-31 | $1.05 Billion | +7.80% |
| 2021-12-31 | $977.55 Million | -13.84% |
| 2020-12-31 | $1.13 Billion | +3.04% |
| 2019-12-31 | $1.10 Billion | -- |