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Industrials - Marine Shipping - NASDAQ - BM
$ 8.25
-3.17 %
$ 1.65 B
Market Cap
14.47
P/E
1. INTRINSIC VALUE

This DCF valuation model was last updated on Aug, 11, 2025.

The intrinsic value of one GOGL stock under the worst case scenario is HIDDEN Compared to the current market price of 8.25 USD, Golden Ocean Group Limited is HIDDEN

This DCF valuation model was last updated on Aug, 11, 2025.

The intrinsic value of one GOGL stock under the base case scenario is HIDDEN Compared to the current market price of 8.25 USD, Golden Ocean Group Limited is HIDDEN

This DCF valuation model was last updated on Aug, 11, 2025.

The intrinsic value of one GOGL stock under the best case scenario is HIDDEN Compared to the current market price of 8.25 USD, Golden Ocean Group Limited is HIDDEN

2. FUNDAMENTAL ANALYSIS

Price Chart GOGL

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$10.0$10.0$9.5$9.5$9.0$9.0$8.5$8.5$8.0$8.0$7.5$7.5$7.0$7.0$6.5$6.5$6.0$6.0Mar '25Mar '2515 Mar15 MarApr '25Apr '2515 Apr15 AprMay '25May '2515 May15 MayJun '25Jun '2515 Jun15 JunJul '25Jul '2515 Jul15 JulAug '25Aug '25
FINANCIALS
968 M REVENUE
9.33%
314 M OPERATING INCOME
66.66%
223 M NET INCOME
98.82%
365 M OPERATING CASH FLOW
37.16%
-8.2 M INVESTING CASH FLOW
97.85%
-344 M FINANCING CASH FLOW
-358.35%
142 M REVENUE
-32.73%
-19.3 M OPERATING INCOME
-39.34%
-44.1 M NET INCOME
-113.17%
-3.33 M OPERATING CASH FLOW
-4.64%
0 INVESTING CASH FLOW
0.00%
-15.8 M FINANCING CASH FLOW
82.78%
Balance Sheet Golden Ocean Group Limited
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Current Assets 287 M
Cash & Short-Term Investments 129 M
Receivables 101 M
Other Current Assets 56.1 M
Non-Current Assets 3.09 B
Long-Term Investments 53.1 M
PP&E 3.02 B
Other Non-Current Assets 20.1 M
3.82 %3.00 %89.36 %Total Assets$3.4b
Current Liabilities 234 M
Accounts Payable 11.8 M
Short-Term Debt 135 M
Other Current Liabilities 87.5 M
Non-Current Liabilities 1.24 B
Long-Term Debt 1.24 B
Other Non-Current Liabilities 170 K
9.13 %5.92 %84.14 %Total Liabilities$1.5b
EFFICIENCY
Earnings Waterfall Golden Ocean Group Limited
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Revenue 968 M
Cost Of Revenue 510 M
Gross Profit 459 M
Operating Expenses 145 M
Operating Income 314 M
Other Expenses 91.1 M
Net Income 223 M
1b1b900m900m800m800m700m700m600m600m500m500m400m400m300m300m200m200m100m100m00968m(510m)459m(145m)314m(91m)223mRevenueRevenueCost Of RevenueCost Of RevenueGross ProfitGross ProfitOperating ExpensesOperating ExpensesOperating IncomeOperating IncomeOther ExpensesOther ExpensesNet IncomeNet Income
RATIOS
47.38% GROSS MARGIN
47.38%
32.46% OPERATING MARGIN
32.46%
23.05% NET MARGIN
23.05%
11.75% ROE
11.75%
6.61% ROA
6.61%
9.56% ROIC
9.56%
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis Golden Ocean Group Limited
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500m500m400m400m300m300m200m200m100m100m00(100m)(100m)(200m)(200m)(300m)(300m)(400m)(400m)(500m)(500m)(600m)(600m)20162016201720172018201820192019202020202021202120222022202320232024202420252025
Net Income 223 M
Depreciation & Amortization 140 M
Capital Expenditures -101 M
Stock-Based Compensation 0
Change in Working Capital 12.5 M
Others 2.16 M
Free Cash Flow 264 M
3. WALL STREET ANALYSTS ESTIMATES
Wall Street Analysts Price Targets Golden Ocean Group Limited
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Wall Street analysts predict an average 1-year price target for GOGL of $15.8 , with forecasts ranging from a low of $14 to a high of $18 .
GOGL Lowest Price Target Wall Street Target
14 USD 69.70%
GOGL Average Price Target Wall Street Target
15.8 USD 91.92%
GOGL Highest Price Target Wall Street Target
18 USD 118.18%
Price
Max Price Target
Min Price Target
Average Price Target
181816161414121210108866Sep '24Sep '24Nov '24Nov '2420252025Feb '25Feb '25Apr '25Apr '25Jun '25Jun '25Jul '25Jul '25Aug '25Aug '25Oct '25Oct '25Nov '25Nov '2520262026Feb '26Feb '26Apr '26Apr '26Jun '26Jun '26Jul '26Jul '26Aug '26Aug '26
4. DIVIDEND ANALYSIS
1.88% DIVIDEND YIELD
0.05 USD DIVIDEND PER SHARE
Q1
Q2
Q3
Q4
2.500000002.500000002.000000002.000000001.500000001.500000001.000000001.000000000.500000000.500000000.000000000.000000000.09980150.90.20.30.150.09980150.250.50.10.30.09980150.09980150.50.60.10.30.14970.450.14970.320.851.650.352.350.10.500.31.200.200.002018201820192019202020202021202120222022202320232024202420252025
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5. COMPETITION
slide 2 of 8
6. Ownership
Insider Ownership Golden Ocean Group Limited
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Sold
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7. News
GOGL - Update on Merger with CMB.TECH and Change of VPS Registrar Hamilton, Bermuda, 28 July, 2025 – Reference is made to the stock exchange announcement made by Golden Ocean Group Limited (NASDAQ: GOGL & Euronext Oslo Børs: GOGL) ("Golden Ocean") and CMB.TECH NV (NYSE: CMBT & Euronext Brussels: CMBT) ("CMB.TECH") on 28 May 2025, where a merger between Golden Ocean and CMB.TECH was announced (the "Merger"). globenewswire.com - 2 weeks ago
GOGL – Notice of Special General Meeting Golden Ocean Group Limited (NASDAQ: GOGL & Euronext Oslo Børs: GOGL) announces that a Special General Meeting will be held on August 19, 2025. A copy of the Notice of the Special General Meeting and associated information can be found enclosed and on our website at www.goldenocean.bm . globenewswire.com - 3 weeks ago
CMB.TECH's update on the Golden Ocean merger process Antwerp, July 17, 2025 (GLOBE NEWSWIRE) -- CMB.TECH NV (NYSE: CMBT & Euronext Brussels: CMBT) (“CMB.TECH”) provides a market update on the progress of the stock-for-stock merger between CMB.TECH and Golden Ocean Group Limited (NASDAQ: GOGL & Euronext Oslo Børs: GOGL) ("Golden Ocean"). The transaction is structured as a merger, with Golden Ocean merging with and into CMB.TECH Bermuda Ltd. globenewswire.com - 3 weeks ago
Golden Ocean: Strategic Merger, Strong Dividends, And Attractive Valuation Golden Ocean's merger with CMB.TECH blends a modern dry bulk fleet with cutting-edge green propulsion, creating a global maritime leader aligned with long-term decarbonization goals. It trades at attractive valuation levels, with a P/E FWD of 12.2x and P/B under 1x—well below industry averages—offering a compelling entry point. The company maintains strong profitability, with a 38% EBITDA margin and 9.5% dividend yield, supported by disciplined capital allocation and solid free cash flow. seekingalpha.com - 3 weeks ago
GOGL – Key Dates for Special General Meeting Golden Ocean Group Limited (NASDAQ: GOGL & Euronext Oslo Børs: GOGL) (the "Company" or "Golden Ocean") advises that a Special General Meeting of Golden Ocean will be held on August 19, 2025. The record date for voting at the Special General Meeting is set to July 16, 2025. A copy of the Notice of the Special General Meeting and associated information will be distributed and made available on the Company's website at www.goldenocean.bm prior to the meeting. globenewswire.com - 4 weeks ago
GOGL – Golden Ocean and CMB TECH signed loan facilities of $2 billion to refinance outstanding debt in Golden Ocean Reference is made to the press release issued by CMB.TECH NV (NYSE: CMBT & Euronext Brussels: CMBT) ("CMB.TECH") on March 4, 2025, which announced that they had identified a bank syndicate to refinance all or parts of the outstanding debt in Golden Ocean Group Limited (“Golden Ocean”). Golden Ocean and CMB.TECH hereby announce the signing of a $2,000 million facilities agreement with a bank syndicate comprising a term loan facility of up to $1,250 million and a revolving credit facility (“RCF”) of up to $750 million which will become available following the completion of the planned merger between Golden Ocean and CMB.TECH, expected in Q3 2025. globenewswire.com - 1 month ago
GOGL – 2024 Environmental, Social and Governance (ESG) Report Golden Ocean Group Ltd (OSE/NYSE: GOGL) today released its seventh annual ESG Report. The 2024 report is prepared in accordance with the Marine Transportation framework established by the Sustainability Accounting Standards Board (SASB) and with reference to the Global reporting Initiative (GRI) Standards. globenewswire.com - 2 months ago
GOGL - Ex dividend USD 0.05 today The shares in Golden Ocean Group Limited will be traded ex dividend USD 0.05 as from today relating to the dividend for the first quarter of 2025. The dividend will be paid on or about June 17, 2025. Due to the implementation of CSDR in Norway, dividends payable on shares registered with Euronext VPS is expected to be distirbuted to Euronext VPS shareholders on or about June 19, 2025. globenewswire.com - 2 months ago
GOGL - Merger Between CMB.Tech and Golden Ocean HAMILTON, Bermuda, 28 May, 2025, 22:30 CEST – Golden Ocean Group Limited (NASDAQ: GOGL & Euronext Oslo Børs: GOGL) (“Golden Ocean”) and CMB.TECH NV (NYSE: CMBT & Euronext Brussels: CMBT) (“CMB.TECH”) are pleased to announce that they have signed an agreement and plan of merger (the “Merger Agreement”) for a stock-for-stock merger, as contemplated by the term sheet previously announced on 22 April 2025. globenewswire.com - 2 months ago
New Strong Sell Stocks for May 22nd ASLE, GOGL and LCNB have been added to the Zacks Rank #5 (Strong Sell) List on May 22, 2025. zacks.com - 2 months ago
Golden Ocean Group Limited (GOGL) Q1 2025 Earnings Call Transcript Golden Ocean Group Limited (NASDAQ:GOGL ) Q1 2025 Results Conference Call May 21, 2025 9:00 AM ET Company Participants Peder Simonsen - Interim Chief Executive Officer and Chief Financial Officer Operator Good day, and thank you for standing by. Welcome to the First Quarter 2025 Golden Ocean Group Earnings Conference Call and Webcast. seekingalpha.com - 2 months ago
GOGL - Key information relating to the dividend for the first quarter, 2025 Key information relating to the dividend to be paid by Golden Ocean Group Limited for the first quarter, 2025: Dividend amount: $0.05 per share Declared currency: USD. Dividends payable to shares registered with Euronext VPS will be distributed in NOK. globenewswire.com - 2 months ago
8. Profile Summary

Golden Ocean Group Limited GOGL

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COUNTRY BM
INDUSTRY Marine Shipping
MARKET CAP $ 1.65 B
Dividend Yield 1.88%
Description 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. As of March 23, 2022, it owned a fleet of 81 dry bulk vessels. Golden Ocean Group Limited is based in Hamilton, Bermuda.
Contact Par-la-Ville Place, Hamilton, HM 08 https://www.goldenocean.bm
IPO Date Feb. 7, 1997
Employees 44
Officers Mr. Tord Brath Head of Global Operations Mr. Peder Carl Gram Simonsen Chief Executive Officer & Chief Financial Officer