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Northern OceanOSL:NOL 61 EV-to-FCF is -4.28 as of Jul. 14, 2026. GuruFocus rates OSL:NOL with a GF Score™ of 61/100 and a GF Value™ of kr6.05 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 579 Oil & Gas companies, Northern Ocean ranks worse than 172711.4% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Northern Ocean's Enterprise Value is kr3,001 Mil.
Northern Ocean's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was kr-702 Mil. Therefore, Northern Ocean's EV-to-FCF for today is -4.28.
The historical rank and industry rank for Northern Ocean's EV-to-FCF or its related term are showing as below:
OSL:NOL'
s EV-to-FCF Range Over the Past 10 Years
Min: -23341.58 Med: -11.37 Max: -2.17
Current: -4.28
During the past 7 years, the highest EV-to-FCF of Northern Ocean was -2.17. The lowest was -23341.58. And the median was -11.37.
OSL:NOL's EV-to-FCF is ranked worse than 100% of 579
companies
in the Oil & Gas industry
Industry Median: 15.75
vs OSL:NOL: -4.28
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Northern Ocean's PE Ratio (TTM) for today is calculated as:
Northern Ocean's share price for today is kr7.52.
Northern Ocean's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was kr-2.343.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Northern Ocean EV-to-FCF Related Terms
Northern Ocean EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Northern Ocean's EV-to-FCF 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.
For the Oil & Gas Drilling subindustry, Northern Ocean's EV-to-FCF, along with its competitors' market caps and EV-to-FCF 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 EV-to-FCF vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Northern Ocean's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Northern Ocean's EV-to-FCF falls into.
Northern Ocean's current Enterprise Value is kr3,001 Mil.
Northern Ocean's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was kr-702 Mil.
* 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 EV-to-FCF of -4.28 as of Jul. 14, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Northern Ocean and its competitors. According to the industry distribution chart, Northern Ocean ranks #999999 out of 579 companies in the Oil & Gas industry.
Is Northern Ocean's EV-to-FCF too high?
Northern Ocean's current EV-to-FCF is -4.28. Based on the distribution chart, Northern Ocean ranks #999999 out of 579 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, Northern Ocean has a GF Score™ of 61/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Northern Ocean's EV-to-FCF compare to NE and RIG?
According to the Oil & Gas industry distribution chart, Northern Ocean ranks #999999 out of 579 companies for EV-to-FCF. This places Northern Ocean in the lower half of its industry. The industry median EV-to-FCF is 15.75. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for an Oil & Gas company?
The median EV-to-FCF among Oil & Gas companies is 15.75, based on 579 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Northern Ocean and its competitors. For the Oil & Gas industry, the median EV-to-FCF is 15.75 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Northern Ocean's current EV-to-FCF is -4.28. 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 Modestly Overvalued. The stock's GF Value™ is kr6.05, compared to a current price of kr7.52 — trading 24.3% above its estimated fair value. The current EV-to-FCF is -4.28. Northern Ocean's overall GF Score™ is 61/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Northern Ocean (OSL:NOL), the current EV-to-FCF is -4.28 as of Jul. 14, 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 kr7.52 is trading 24.3% above its estimated GF Value™ of kr6.05.
GuruFocus considers Northern Ocean to be Modestly Overvalued.
Key valuation signals for OSL:NOL:
EV-to-FCF: -4.28
GF Value™: kr6.05 vs. price of kr7.52 (24.3% above fair value)
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.
61GF Score
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