Golden Ocean Group Limited

NasdaqGS:GOGL Stock Report

Market Cap: US$2.6b

Golden Ocean Group Valuation

Is GOGL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • 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 GOGL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: GOGL ($12.96) is trading below our estimate of fair value ($36.4)

Significantly Below Fair Value: GOGL is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for GOGL?

Other financial metrics that can be useful for relative valuation.

GOGL key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue4.4x
Enterprise Value/EBITDA12x
PEG Ratio0.8x

Price to Earnings Ratio vs Peers

How does GOGL's PE Ratio compare to its peers?

The above table shows the PE ratio for GOGL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average13x
SBLK Star Bulk Carriers
11.6x24.5%US$2.0b
MATX Matson
13x-1.9%US$3.8b
KEX Kirby
25x16.4%US$5.6b
DAC Danaos
2.4x-23.7%US$1.4b
GOGL Golden Ocean Group
23.1x29.1%US$2.6b

Price-To-Earnings vs Peers: GOGL is expensive based on its Price-To-Earnings Ratio (23.1x) compared to the peer average (13x).


Price to Earnings Ratio vs Industry

How does GOGL's PE Ratio compare vs other companies in the US Shipping Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a19.0%
n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a19.0%
n/an/an/a
No more companies

Price-To-Earnings vs Industry: GOGL is expensive based on its Price-To-Earnings Ratio (23.1x) compared to the US Shipping industry average (8.2x).


Price to Earnings Ratio vs Fair Ratio

What is GOGL'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.

GOGL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio23.1x
Fair PE Ratio19.3x

Price-To-Earnings vs Fair Ratio: GOGL is expensive based on its Price-To-Earnings Ratio (23.1x) compared to the estimated Fair Price-To-Earnings Ratio (19.3x).


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst GOGL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$12.96
US$13.52
+4.3%
17.9%US$15.50US$9.00n/a5
Mar ’25US$13.25
US$13.52
+2.1%
17.9%US$15.50US$9.00n/a5
Feb ’25US$10.51
US$11.82
+12.5%
13.4%US$13.00US$9.00n/a5
Jan ’25US$9.76
US$10.19
+4.4%
11.0%US$11.50US$8.50n/a6
Dec ’24US$9.69
US$9.87
+1.8%
16.0%US$11.50US$7.10n/a6
Nov ’24US$7.18
US$9.58
+33.4%
13.4%US$11.00US$7.50n/a4
Oct ’24US$7.88
US$8.83
+12.0%
12.4%US$10.00US$7.50n/a4
Sep ’24US$7.33
US$8.83
+20.4%
12.4%US$10.00US$7.50n/a4
Aug ’24US$7.72
US$9.68
+25.3%
12.4%US$11.50US$8.50n/a4
Jul ’24US$7.55
US$12.80
+69.5%
42.4%US$22.00US$8.70n/a4
Jun ’24US$7.17
US$10.93
+52.4%
18.7%US$14.00US$8.70n/a4
May ’24US$8.88
US$10.75
+21.1%
20.9%US$14.00US$8.00n/a4
Apr ’24US$9.52
US$10.75
+12.9%
20.9%US$14.00US$8.00n/a4
Mar ’24US$10.39
US$10.75
+3.5%
20.9%US$14.00US$8.00US$13.254
Feb ’24US$9.65
US$11.03
+14.2%
17.6%US$14.00US$9.10US$10.514
Jan ’24US$8.69
US$10.40
+19.7%
20.1%US$14.00US$9.00US$9.764
Dec ’23US$8.18
US$10.53
+28.7%
19.4%US$14.00US$9.00US$9.694
Nov ’23US$8.61
US$10.75
+24.9%
17.9%US$14.00US$9.00US$7.184
Oct ’23US$7.47
US$10.75
+43.9%
17.9%US$14.00US$9.00US$7.884
Sep ’23US$9.83
US$12.10
+23.1%
17.2%US$14.00US$9.00US$7.334
Aug ’23US$11.30
US$12.60
+11.5%
11.2%US$14.00US$11.00US$7.724
Jul ’23US$10.75
US$13.00
+20.9%
10.9%US$14.00US$11.00US$7.553
Jun ’23US$15.39
US$14.25
-7.4%
17.5%US$18.00US$11.00US$7.174
May ’23US$12.53
US$12.25
-2.2%
10.6%US$14.00US$11.00US$8.884
Apr ’23US$12.74
US$12.25
-3.8%
10.6%US$14.00US$11.00US$9.524
Mar ’23US$12.40
US$11.75
-5.2%
7.1%US$13.00US$11.00US$10.394

Analyst Forecast: Target price is less than 20% higher than the current share price.


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