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Northern OceanOSL:NOL -0.27%59 Equity-to-Asset is 0.64 as of Jun. 2026, which is 45% above its 10-year median of 0.44. GuruFocus rates OSL:NOL with a GF Score™ of 59/100 and a GF Value™ of kr5.41 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 1,031 Oil & Gas companies, Northern Ocean ranks better than 68.48% on this metric.
Equity to Asset ratio is calculated as total stockholders equity divided by total asset. Northern Ocean's Total Stockholders Equity for the quarter that ended in Jun. 2026 was kr3,054 Mil. Northern Ocean's Total Assets for the quarter that ended in Jun. 2026 was kr4,761 Mil.
Therefore, Northern Ocean's Equity to Asset Ratio for the quarter that ended in Jun. 2026 was 0.64.
The historical rank and industry rank for Northern Ocean's Equity-to-Asset or its related term are showing as below:
OSL:NOL'
s Equity-to-Asset Range Over the Past 10 Years
Min: 0 Med: 0.44 Max: 0.68
Current: 0.64
During the past 7 years, the highest Equity to Asset Ratio of Northern Ocean was 0.68. The lowest was 0.00. And the median was 0.44.
OSL:NOL's Equity-to-Asset is ranked better than 68.48% of 1031
companies
in the Oil & Gas industry
Industry Median: 0.49
vs OSL:NOL: 0.64
Equity to Asset ratio can vary greatly across different industries, as they have different capital structure. A company with smaller Equity to Asset ratio (more leveraged) may have higher ROE % because of the leverage.
For banks, the required minimum Equity to Asset ratio by regulation is 5%. Some stronger banks may have Equity to Asset Ratio of more than 10%.
Northern Ocean Equity-to-Asset Related Terms
Northern Ocean Equity-to-Asset Historical Data
* Premium members only.
The historical data trend for Northern Ocean's Equity-to-Asset can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
OSL:NOL vs NE, RIG, VAL: Equity-to-Asset Comparison
For the Oil & Gas Drilling subindustry, Northern Ocean's Equity-to-Asset, along with its competitors' market caps and Equity-to-Asset data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Northern Ocean Equity-to-Asset vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Northern Ocean's Equity-to-Asset distribution charts can be found below:
* The bar in red indicates where Northern Ocean's Equity-to-Asset falls into.
Equity to Asset ratio measures the ratios of the portion of the asset owned by shareholders out of the total asset. It indicates the leverage of the company, and the amount of debt the company uses in its operation.
Equity to Asset ratio is calculated by dividing total stockholders equity by total asset.
Northern Ocean's Equity to Asset Ratio for the fiscal year that ended in Dec. 2025 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Northern Ocean (OSL:NOL) has a Equity-to-Asset of 0.64 as of Jun. 2026. Equity-to-asset ratio equals total company equity divided by total assets. It measures financial leverage. View historical data on Northern Ocean and its competitors. This is 45% above median its historical median of 0.44. According to the industry distribution chart, Northern Ocean ranks #325 out of 1031 companies in the Oil & Gas industry, placing it in the top 31.5%.
Is Northern Ocean's Equity-to-Asset too high?
Northern Ocean's current Equity-to-Asset of 0.64 is 45% above median its 10-year median of 0.44. The Oil & Gas industry median Equity-to-Asset is 0.49. Northern Ocean's value of 0.64 is 30.6% above this industry median. Based on the distribution chart, Northern Ocean ranks #325 out of 1031 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Northern Ocean has a GF Score™ of 59/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Northern Ocean's Equity-to-Asset compare to NE and RIG?
According to the Oil & Gas industry distribution chart, Northern Ocean ranks #325 out of 1031 companies for Equity-to-Asset. This puts Northern Ocean in the upper half of its industry. The industry median Equity-to-Asset is 0.49. Northern Ocean's value of 0.64 is 30.6% above this benchmark. While the company's 10-year median is 0.44 vs. the industry median of 0.49, Northern Ocean has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Equity-to-Asset for an Oil & Gas company?
The median Equity-to-Asset among Oil & Gas companies is 0.49, based on 1,031 companies in the industry. Companies in the top quartile (top 25%) have a Equity-to-Asset significantly above this median, while those in the bottom quartile fall well below. However, Equity-to-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Northern Ocean's current Equity-to-Asset of 0.64 is 30.6% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Equity-to-Asset mean?
A high Equity-to-Asset can signal that a stock is expensive relative to its fundamentals. Equity-to-asset ratio equals total company equity divided by total assets. It measures financial leverage. View historical data on Northern Ocean and its competitors. For the Oil & Gas industry, the median Equity-to-Asset is 0.49 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Northern Ocean's current Equity-to-Asset is 0.64, which is 45% above median its own 10-year median of 0.44. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Northern Ocean stock overvalued right now?
Based on GuruFocus' analysis, Northern Ocean (OSL:NOL) is currently considered Significantly Overvalued. The stock's GF Value™ is kr5.41, compared to a current price of kr7.44 — trading 37.5% above its estimated fair value. The current Equity-to-Asset is 0.64, which is 45% above median its 10-year median of 0.44 and 30.6% above the Oil & Gas industry median of 0.49. Northern Ocean's overall GF Score™ is 59/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Equity-to-Asset calculated?
Equity-to-Asset is calculated from a company's financial statements. For Northern Ocean (OSL:NOL), the current Equity-to-Asset is 0.64 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Northern Ocean (OSL:NOL) Overvalued in 2026?
Based on GuruFocus' analysis, Northern Ocean stock appears to be overvalued.
The current stock price of kr7.44 is trading 37.5% above its estimated GF Value™ of kr5.41.
GuruFocus considers Northern Ocean to be Significantly Overvalued.
Key valuation signals for OSL:NOL:
Equity-to-Asset: 0.64 (45% above median its 10-year median of 0.44)
GF Value™: kr5.41 vs. price of kr7.44 (37.5% above fair value)
Industry Position: 30.6% above the Oil & Gas median (#325 of 1031)
No single metric tells the full story. See the OSL:NOL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Northern Ocean Ltd is an international offshore drilling contractor for the oil and gas industry. The company acquires and operates modern drilling assets and is engaged in offshore contract drilling in benign and harsh environments, including ultra-deep-water environments. It owns a semi-submersible rig, Deepsea Mira. The company earns revenue mainly from drilling contracts for rigs.
59GF Score
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