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  3. •

    Oil & Gas Drilling
Northern Ocean Ltd.

Northern Ocean Ltd.

NTNOF
Northern Ocean Ltd.US flagOther OTC
0.79
USD
- -
- -
240.39MMarket Cap
Northern Ocean Ltd.
NTNOF
(Other OTC)

Recent

price

0.79

P/E

ratio

- -

div

yld

- -

ROIC.AI

2019
2020
2021
2022
2023
2024
2025
TTM
FRC
0.18
1.01
1.06
0.19
1.3
0.93
0.92
0.6
Revenue per Share
-0.11
-0.39
-0.17
-0.8
-0.39
-0.23
-0.34
-0.33
Basic EPS, GAAP
-3.18
-0.29
-0.35
-0.5
-0.44
-0.26
-0.18
-0.1
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
7.01
6.55
6.4
2.79
2.39
1.47
1.14
- -
Book Value per Share
7.01
6.55
6.4
2.79
2.39
1.47
1.14
- -
Tangible Book Value per Share
77
94
64
115
182
283
303
303
Basic Weighted Avg Shares
14
95
68
22
237
264
279
182
Sales/Revenue/Turnover
-45.35
-25.04
-73.79
-295.26
-9.95
-3.87
-11.71
-29.74
Operating Margin (%)
3
30
43
40
43
50
55
35
Depreciation Expense
-8
-37
-11
-93
-71
-66
-103
-99
Net Income, GAAP
- -
- -
- -
- -
- -
- -
- -
- -
Effective Tax Rate (%)
-58.61
-38.59
-16.27
-428.82
-29.92
-24.88
-36.74
-54.69
Profit Margin (%)
-32
-284
4
55
-26
36
-92
-176
Working Capital
415
278
460
461
458
516
- -
- -
LT Debt
543
507
496
507
437
446
345
- -
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
- -
-6.95
-2.2
-18.53
-15.03
-14.87
-25.95
-47.4
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
100
100
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
303
303
303
Market Capitalization
182
182
249

Working Capital

FRC

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
67
37
- -
Cash, Cash Equivalents & STI
38
28
- -
Accounts Receivable, Net
24
2
29
Inventories
- -
- -
- -
Total Current Liabilities
159
149
176
Payables & Accruals
- -
- -
- -
ST Debt
100
100
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
-6.87%
-22.66%
Free Cash Flow
- -
29.42%
-28.69%
Net Income, GAAP
- -
139.61%
56.37%
Sales/Revenue/Turnover
- -
182.92%
5.9%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
85
73
40
65
264
2025
58
53
57
111
279
2026
13
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.05
-0.03
-0.13
-0.05
-0.23
2025
-0.04
-0.05
-0.09
-0.17
-0.34
2026
-0.08
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Northern Ocean Ltd., an international drilling contractor, delivers high-specification offshore contract drilling services to the global oil and gas industry, focusing on harsh environments with its modern semi-submersible rigs like the Deepsea Mira, which integrate green energy technologies. Formed in 2017, the company maintains its operational base in Hamilton, Bermuda.

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