NTNOF (Northern Ocean) Interest Expense: $-43.9 Mil (TTM As of Mar. 2026)

What is Northern Ocean Interest Expense?

Northern Ocean NTNOF 45 Interest Expense is $-43.9 Mil as of Mar. 2026. GuruFocus rates NTNOF with a GF Score™ of 45/100 and a GF Value™ of $0.40 (Significantly Overvalued). The stock has 4 warning signs investors should review.

Interest Expense is the amount reported by a company or individual as an expense for borrowed money. Northern Ocean's interest expense for the three months ended in Mar. 2026 was $ -2.7 Mil. Its interest expense for the trailing twelve months (TTM) ended in Mar. 2026 was $-43.9 Mil.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income(EBIT) by its Interest Expense. Northern Ocean's Operating Income for the three months ended in Mar. 2026 was $ -22.4 Mil. Northern Ocean's Interest Expense for the three months ended in Mar. 2026 was $ -2.7 Mil. Northern Ocean did not have earnings to cover the interest expense. The higher the ratio, the stronger the company's financial strength is. Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Northern Ocean (OTCPK:NTNOF) Interest Expense Explanation

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Northern Ocean's Interest Expense for the three months ended in Mar. 2026 was $-2.7 Mil. Its Operating Income for the three months ended in Mar. 2026 was $-22.4 Mil. And its Long-Term Debt & Capital Lease Obligation for the three months ended in Mar. 2026 was $0.0 Mil.

Northern Ocean's Interest Coverage for the quarter that ended in Mar. 2026 is calculated as

Northern Ocean did not have earnings to cover the interest expense.

* 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.

The higher the ratio, the stronger the company's financial strength is.

Northern Ocean Interest Expense Historical Data

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The historical data trend for Northern Ocean's Interest Expense can be seen below:

Northern Ocean Interest Expense Chart

Northern Ocean Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Interest Expense

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-19.64

-27.86

-45.99

-56.30

Northern Ocean Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Interest Expense	Get a 7-Day Free Trial															-15.08	-15.21	-15.91	-10.11	-2.71

45GF Score

Northern Ocean Ltd NTNOF

Interest Expense is just one metric. See GF Score™, valuation, warning signs, and more.

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Northern Ocean Interest Expense Calculation

Interest Expense is the amount reported by a company or individual as an expense for borrowed money.

Interest Expense 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 $-43.9 Mil.

Frequently Asked Questions Learn more about Interest Expense →

What does a Interest Expense of $-43.9 Mil mean?

Northern Ocean (NTNOF) has a Interest Expense of $-43.9 Mil as of Mar. 2026. Interest Expense is the amount a company pays on its long-term debt. View historical data on Northern Ocean and its competitors.

Is Northern Ocean's Interest Expense too high?

Northern Ocean's current Interest Expense is $-43.9 Mil. Overall, Northern Ocean has a GF Score™ of 45/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Northern Ocean's Interest Expense compare to NE and RIG?

Northern Ocean's Interest Expense of $-43.9 Mil can be compared against companies in the Oil & Gas industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Interest Expense for an Oil & Gas company?

A good Interest Expense depends on the Oil & Gas industry context. However, Interest Expense 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 Interest Expense mean?

A high Interest Expense can signal that a stock is expensive relative to its fundamentals. Interest Expense is the amount a company pays on its long-term debt. View historical data on Northern Ocean and its competitors. Northern Ocean's current Interest Expense is $-43.9 Mil. 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 (NTNOF) is currently considered Significantly Overvalued. The stock's GF Value™ is $0.40, compared to a current price of $0.82 — trading 105% above its estimated fair value. The current Interest Expense is $-43.9 Mil. Northern Ocean's overall GF Score™ is 45/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Interest Expense calculated?

Interest Expense is calculated from a company's financial statements. For Northern Ocean (NTNOF), the current Interest Expense is $-43.9 Mil as of Mar. 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 (NTNOF) Overvalued in 2026?

Based on GuruFocus' analysis, Northern Ocean stock appears to be overvalued. The current stock price of $0.82 is trading 105% above its estimated GF Value™ of $0.40. GuruFocus considers Northern Ocean to be Significantly Overvalued.

Key valuation signals for NTNOF:

Interest Expense: $-43.9 Mil
GF Value™: $0.40 vs. price of $0.82 (105% above fair value)
GF Score™: 45/100 with 4 warning signs

No single metric tells the full story. See the NTNOF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Northern Ocean Business Description

Industry Energy Oil & Gas

Comparable Companies OSL:ARCH OSL:OTL OSL:VTURA OSL:DVD OSL:DDRIL OSL:PLSV ADX:ADNOCDRILL NE RIG SAU:2382 VAL SHSE:600871 PTEN HP SDRL SAU:2381 OSL:ODL BORR NBR SOC

Other Exchanges NOLo:Sweden NOL:Norway

Address 14 Par La Ville Road, Par La Ville Place, PO Box HM 1593, Hamilton, BMU, HM08

Website https://www.northernocean.no

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.

45GF Score

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Interest Expense is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$0.82

Price

$0.40

GF Value

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