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GOGL

Golden Ocean GroupNasdaqGS:GOGL Stock Report

Market Cap

US$1.9b

7D

-3.0%

1Y

112.7%

Updated

02 Dec, 2021

Data

Company Financials +
GOGL fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance3/6
Financial Health4/6
Dividends4/6

GOGL Stock Overview

Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels comprising Newcastlemax, Capesize, Panamax, and Ultramax vessels worldwide.

Golden Ocean Group Competitors

Star Bulk Carriers

NasdaqGS:SBLK

US$2.1b

Genco Shipping & Trading

NYSE:GNK

US$646.1m

Eagle Bulk Shipping

NasdaqGS:EGLE

US$544.6m

Safe Bulkers

NYSE:SB

US$440.3m

Price History & Performance

Summary of all time highs, changes and price drops for Golden Ocean Group
Historical stock prices
Current Share PriceUS$8.85
52 Week HighUS$12.17
52 Week LowUS$4.09
Beta1.66
1 Month Change-4.22%
3 Month Change-24.55%
1 Year Change112.74%
3 Year Change22.58%
5 Year Change102.52%
Change since IPO-58.26%

Recent News & Updates

Nov 23

Golden Ocean: What To Expect From Q3 Earnings Results

Results from Q3 should be slightly higher than Q2. However, the 50% drop in the Baltic Dry Index has blown some air out of the balloon. Rates are still sufficiently high and we could see a reversal in the trend.

Oct 23
Why Golden Ocean Group Limited (NASDAQ:GOGL) Could Be Worth Watching

Why Golden Ocean Group Limited (NASDAQ:GOGL) Could Be Worth Watching

Golden Ocean Group Limited ( NASDAQ:GOGL ), is not the largest company out there, but it saw significant share price...

Shareholder Returns

GOGLUS ShippingUS Market
7D-3.0%-6.6%-4.9%
1Y112.7%51.6%17.8%

Return vs Industry: GOGL exceeded the US Shipping industry which returned 51.6% over the past year.

Return vs Market: GOGL exceeded the US Market which returned 17.8% over the past year.

Price Volatility

Is GOGL's price volatile compared to industry and market?
GOGL volatility
GOGL Average Weekly Movement10.3%
Shipping Industry Average Movement8.3%
Market Average Movement6.0%
10% most volatile stocks in US Market15.1%
10% least volatile stocks in US Market2.4%

Stable Share Price: GOGL is more volatile than 75% of US stocks over the past 3 months, typically moving +/- 10% a week.

Volatility Over Time: GOGL's weekly volatility (10%) has been stable over the past year, but is still higher than 75% of US stocks.

About the Company

FoundedEmployeesCEOWebsite
n/a38Ulrik Andersenhttps://www.goldenocean.bm

Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels comprising Newcastlemax, Capesize, Panamax, and Ultramax vessels worldwide. It owns and operates dry bulk vessels in the spot and time charter markets. The company transports bulk commodities, such as ores, coal, grains, and fertilizers.

Golden Ocean Group Fundamentals Summary

How do Golden Ocean Group's earnings and revenue compare to its market cap?
GOGL fundamental statistics
Market CapUS$1.89b
Earnings (TTM)US$348.78m
Revenue (TTM)US$993.73m

5.1x

P/E Ratio

1.8x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
GOGL income statement (TTM)
RevenueUS$993.73m
Cost of RevenueUS$521.17m
Gross ProfitUS$472.55m
ExpensesUS$123.78m
EarningsUS$348.78m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

Feb 28, 2022

Earnings per share (EPS)1.74
Gross Margin47.55%
Net Profit Margin35.10%
Debt/Equity Ratio71.4%

How did GOGL perform over the long term?

See historical performance and comparison

Dividends

38.4%

Current Dividend Yield

82%

Payout Ratio

Does GOGL pay a reliable dividends?

See GOGL dividend history and benchmarks
When do you need to buy GOGL by to receive an upcoming dividend?
Golden Ocean Group dividend dates
Ex Dividend DateDec 08 2021
Dividend Pay DateDec 16 2021
Days until Ex dividend6 days
Days until Dividend pay date14 days

Does GOGL pay a reliable dividends?

See GOGL dividend history and benchmarks

Valuation

Is Golden Ocean Group undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: GOGL ($8.85) is trading below our estimate of fair value ($24.51)

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


Price To Earnings Ratio

PE vs Industry: GOGL is good value based on its PE Ratio (5.1x) compared to the US Shipping industry average (5.3x).

PE vs Market: GOGL is good value based on its PE Ratio (5.1x) compared to the US market (16.6x).


Price to Earnings Growth Ratio

PEG Ratio: GOGL's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: GOGL's PB Ratio (0.9x) is in line with the US Shipping industry average.


Future Growth

How is Golden Ocean Group forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

-17.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: GOGL's earnings are forecast to decline over the next 3 years (-17.5% per year).

Earnings vs Market: GOGL's earnings are forecast to decline over the next 3 years (-17.5% per year).

High Growth Earnings: GOGL's earnings are forecast to decline over the next 3 years.

Revenue vs Market: GOGL's revenue is expected to decline over the next 3 years (-9.4% per year).

High Growth Revenue: GOGL's revenue is forecast to decline over the next 3 years (-9.4% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: GOGL's Return on Equity is forecast to be low in 3 years time (18%).


Past Performance

How has Golden Ocean Group performed over the past 5 years?

37.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: GOGL has high quality earnings.

Growing Profit Margin: GOGL became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: GOGL has become profitable over the past 5 years, growing earnings by 37.4% per year.

Accelerating Growth: GOGL has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: GOGL has become profitable in the last year, making it difficult to compare its past year earnings growth to the Shipping industry (517.7%).


Return on Equity

High ROE: GOGL's Return on Equity (18.4%) is considered low.


Financial Health

How is Golden Ocean Group's financial position?


Financial Position Analysis

Short Term Liabilities: GOGL's short term assets ($448.5M) exceed its short term liabilities ($282.3M).

Long Term Liabilities: GOGL's short term assets ($448.5M) do not cover its long term liabilities ($1.4B).


Debt to Equity History and Analysis

Debt Level: GOGL's net debt to equity ratio (58.6%) is considered high.

Reducing Debt: GOGL's debt to equity ratio has reduced from 85.6% to 71.4% over the past 5 years.

Debt Coverage: GOGL's debt is well covered by operating cash flow (30.5%).

Interest Coverage: GOGL's interest payments on its debt are well covered by EBIT (5.3x coverage).


Balance Sheet


Dividend

What is Golden Ocean Group current dividend yield, its reliability and sustainability?

38.42%

Current Dividend Yield


Upcoming Dividend Payment

TodayDec 02 2021Ex Dividend DateDec 08 2021Dividend Pay DateDec 16 20218 days from Ex DividendBuy in the next 6 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: GOGL's dividend (38.42%) is higher than the bottom 25% of dividend payers in the US market (1.37%).

High Dividend: GOGL's dividend (38.42%) is in the top 25% of dividend payers in the US market (3.69%)


Stability and Growth of Payments

Stable Dividend: GOGL has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: GOGL has only been paying a dividend for 7 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (81.8%), GOGL's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: GOGL's dividends in 3 years are forecast to be covered by earnings (66.5% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.4yrs

Average management tenure


CEO

Ulrik Andersen (42 yo)

1.58yrs

Tenure

Mr. Ulrik Uhrenfeldt Andersen serves as Chief Executive Officer of Golden Ocean Group Limited since April 2020. He served as Chief Executive Officer at Avance Gas Holding Ltd since August 2019 until 2020....


Leadership Team

Experienced Management: GOGL's management team is not considered experienced ( 1.4 years average tenure), which suggests a new team.


Board Members

Experienced Board: GOGL's board of directors are not considered experienced ( 2.2 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 39.8%.


Top Shareholders

Company Information

Golden Ocean Group Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Golden Ocean Group Limited
  • Ticker: GOGL
  • Exchange: NasdaqGS
  • Founded: NaN
  • Industry: Marine
  • Sector: Transportation
  • Market Cap: US$1.886b
  • Shares outstanding: 200.44m
  • Website: https://www.goldenocean.bm

Number of Employees


Location

  • Golden Ocean Group Limited
  • Par-la-Ville Place
  • 14 Par-la-Ville Road
  • Hamilton
  • HM 08
  • Bermuda

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/12/02 00:11
End of Day Share Price2021/12/01 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.