Golden Ocean Group Valuation
Is GOGLO undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
4/6Valuation Score 4/6
Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast
Share Price vs Fair Value
What is the Fair Price of GOGLO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: GOGLO (NOK130.05) is trading below our estimate of fair value (NOK694.74)
Significantly Below Fair Value: GOGLO is trading below fair value by more than 20%.
Key Valuation Metric
Which metric is best to use when looking at relative valuation for GOGLO?
Key metric: As GOGLO is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.
| What is GOGLO's PE Ratio? | |
|---|---|
| PE Ratio | 10.1x |
| Earnings | US$214.08m |
| Market Cap | US$2.17b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 3.6x |
| Enterprise Value/EBITDA | 8x |
| PEG Ratio | 0.6x |
Price to Earnings Ratio vs Peers
How does GOGLO's PE Ratio compare to its peers?
| Company | Forward PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 13x | ||
CKN Clarkson | 14.6x | 2.5% | UK£1.2b |
ICGC Irish Continental Group | 14.4x | n/a | UK£748.8m |
IDS International Distribution Services | 13.3x | 28.9% | UK£3.4b |
FGP FirstGroup | 9.7x | 9.9% | UK£922.4m |
GOGLO Golden Ocean Group | 10.1x | 16.2% | NOK 2.2b |
Price-To-Earnings vs Peers: GOGLO is good value based on its Price-To-Earnings Ratio (10.1x) compared to the peer average (13x).
Price to Earnings Ratio vs Industry
How does GOGLO's PE Ratio compare vs other companies in the European Shipping Industry?
| 2 Companies | Price / Earnings | Estimated Growth | Market Cap |
|---|---|---|---|
| 2 Companies | Estimated Growth | Market Cap | |
|---|---|---|---|
Price-To-Earnings vs Industry: GOGLO is expensive based on its Price-To-Earnings Ratio (10.1x) compared to the European Shipping industry average (7.6x).
Price to Earnings Ratio vs Fair Ratio
What is GOGLO's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 10.1x |
| Fair PE Ratio | 12.8x |
Price-To-Earnings vs Fair Ratio: GOGLO is good value based on its Price-To-Earnings Ratio (10.1x) compared to the estimated Fair Price-To-Earnings Ratio (12.8x).
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
| Date | Share Price | Average 1Y Price Target | Dispersion | High | Low | 1Y Actual price | Analysts |
|---|---|---|---|---|---|---|---|
| Current | n/a | NOK 167.80 0% | 16.9% | NOK 201.71 | NOK 139.73 | n/a | 4 |
| Nov ’25 | NOK 117.90 | NOK 173.13 +46.8% | 13.3% | NOK 198.21 | NOK 137.31 | n/a | 4 |
| Oct ’25 | NOK 137.55 | NOK 172.58 +25.5% | 8.4% | NOK 191.51 | NOK 153.89 | n/a | 4 |
| Sep ’25 | NOK 129.40 | NOK 165.99 +28.3% | 9.9% | NOK 190.21 | NOK 146.02 | n/a | 5 |
| Aug ’25 | NOK 139.65 | NOK 175.24 +25.5% | 8.9% | NOK 191.01 | NOK 149.05 | n/a | 5 |
| Jul ’25 | NOK 149.20 | NOK 173.23 +16.1% | 10.0% | NOK 189.98 | NOK 142.92 | n/a | 5 |
| Jun ’25 | NOK 153.20 | NOK 167.74 +9.5% | 9.3% | NOK 187.04 | NOK 143.22 | n/a | 5 |
| May ’25 | NOK 156.55 | NOK 169.18 +8.1% | 7.7% | NOK 186.83 | NOK 147.27 | n/a | 5 |
| Apr ’25 | NOK 135.10 | NOK 143.51 +6.2% | 17.9% | NOK 164.59 | NOK 95.57 | n/a | 5 |
| Mar ’25 | NOK 138.18 | NOK 143.51 +3.9% | 17.9% | NOK 164.59 | NOK 95.57 | n/a | 5 |
| Feb ’25 | NOK 112.95 | NOK 124.33 +10.1% | 13.4% | NOK 136.71 | NOK 94.65 | n/a | 5 |
| Jan ’25 | n/a | NOK 111.09 0% | 11.0% | NOK 125.43 | NOK 92.71 | n/a | 6 |
| Dec ’24 | NOK 99.56 | NOK 106.26 +6.7% | 16.0% | NOK 123.83 | NOK 76.45 | n/a | 6 |
| Nov ’24 | NOK 80.08 | NOK 106.95 +33.6% | 13.4% | NOK 122.87 | NOK 83.77 | NOK 117.90 | 4 |
| Oct ’24 | NOK 84.72 | NOK 93.52 +10.4% | 12.4% | NOK 105.98 | NOK 79.48 | NOK 137.55 | 4 |
| Sep ’24 | NOK 76.24 | NOK 93.52 +22.7% | 12.4% | NOK 105.98 | NOK 79.48 | NOK 129.40 | 4 |
| Aug ’24 | NOK 79.16 | NOK 97.45 +23.1% | 12.4% | NOK 115.83 | NOK 85.61 | NOK 139.65 | 4 |
| Jul ’24 | NOK 81.34 | NOK 138.64 +70.4% | 42.4% | NOK 238.29 | NOK 94.23 | NOK 149.20 | 4 |
| Jun ’24 | NOK 78.76 | NOK 116.74 +48.2% | 18.7% | NOK 149.60 | NOK 92.96 | NOK 153.20 | 4 |
| May ’24 | NOK 97.50 | NOK 109.05 +11.8% | 20.9% | NOK 142.02 | NOK 81.15 | NOK 156.55 | 4 |
| Apr ’24 | NOK 97.99 | NOK 109.05 +11.3% | 20.9% | NOK 142.02 | NOK 81.15 | NOK 135.10 | 4 |
| Mar ’24 | NOK 109.35 | NOK 109.05 -0.3% | 20.9% | NOK 142.02 | NOK 81.15 | NOK 138.18 | 4 |
| Feb ’24 | NOK 96.34 | NOK 110.01 +14.2% | 17.6% | NOK 139.70 | NOK 90.80 | NOK 112.95 | 4 |
| Jan ’24 | NOK 87.38 | NOK 101.80 +16.5% | 20.1% | NOK 137.04 | NOK 88.10 | n/a | 4 |
| Dec ’23 | NOK 81.70 | NOK 106.45 +30.3% | 19.4% | NOK 141.60 | NOK 91.03 | NOK 99.56 | 4 |
| Nov ’23 | NOK 88.90 | NOK 116.26 +30.8% | 17.9% | NOK 151.41 | NOK 97.33 | NOK 80.08 | 4 |
Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.