Northern OceanNTNOF 44 Market Cap is $251.2 Mil as of Jun. 29, 2026. GuruFocus rates NTNOF with a GF Score™ of 44/100 and a GF Value™ of $0.60 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 1,046 Oil & Gas companies, Northern Ocean ranks better than 53.35% on this metric.
Market cap is the total market value to buy the whole company. It is equal to the share price times the number of Shares Outstanding (EOP). Northern Ocean's share price for the quarter that ended in Mar. 2026 was $0.6. Northern Ocean's Shares Outstanding (EOP) for the quarter that ended in Mar. 2026 was 303.2 Mil. Therefore, Northern Ocean's market cap for the quarter that ended in Mar. 2026 was $181.9 Mil.
Northern Ocean's quarterly market cap
increased
from Sep. 2025 ($168.9 Mil) to Dec. 2025 ($181.9 Mil) but then
stayed the same
from Dec. 2025 ($181.9 Mil) to Mar. 2026 ($181.9 Mil).
Northern Ocean's annual market cap
declined
from Dec. 2023 ($241.1 Mil) to Dec. 2024 ($199.5 Mil) and
declined
from Dec. 2024 ($199.5 Mil) to Dec. 2025 ($181.9 Mil).
Enterprise Value is the theoretical takeover price. It is more comprehensive than market capitalization (market cap), which only includes common equity. Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash and cash equivalents. Northern Ocean's Enterprise Value for Today is $323.1 Mil.
Northern Ocean (OTCPK:NTNOF) Market Cap Explanation
Market cap is not the real price you pay for a company. If you buy the company and become its owner, you become the owner of the cash the company has, and you also assume the companys debt. The real price you pay is the Enterprise Value.
Warren Buffett uses the ratio of total market cap of all public traded companies over GDP to measure if the market is expensive. As of April 2012, the US total market cap is about $14.7 trillion, while the US GDP is about $15 trillion. The market was modestly overvalued.
Northern Ocean Market Cap Related Terms
Northern Ocean Market Cap Historical Data
* Premium members only.
The historical data trend for Northern Ocean's Market Cap 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 Market Cap, along with its competitors' market caps and Market Cap 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 Market Cap vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Northern Ocean's Market Cap distribution charts can be found below:
* The bar in red indicates where Northern Ocean's Market Cap falls into.
Market cap is the short version of market capitalization. It is the total market value to buy the whole company. It is equal to the share price times the number of shares outstanding.
Northern Ocean's Market Cap 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 (NTNOF) has a Market Cap of $251.2 Mil as of Jun. 29, 2026. Market cap equals the total value of a company's shares: price times shares outstanding. View historical data on Northern Ocean and its competitors. According to the industry distribution chart, Northern Ocean ranks #488 out of 1046 companies in the Oil & Gas industry, placing it in the top 46.7%.
Is Northern Ocean's Market Cap too high?
Northern Ocean's current Market Cap is $251.2 Mil. The Oil & Gas industry median Market Cap is 213.99. Northern Ocean's value of $251.2 Mil is 17.4% above this industry median. Based on the distribution chart, Northern Ocean ranks #488 out of 1046 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Northern Ocean has a GF Score™ of 44/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Northern Ocean's Market Cap compare to NE and RIG?
According to the Oil & Gas industry distribution chart, Northern Ocean ranks #488 out of 1046 companies for Market Cap. This puts Northern Ocean in the upper half of its industry. The industry median Market Cap is 213.99. Northern Ocean's value of $251.2 Mil is 17.4% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Market Cap for an Oil & Gas company?
The median Market Cap among Oil & Gas companies is 213.99, based on 1,046 companies in the industry. Companies in the top quartile (top 25%) have a Market Cap significantly above this median, while those in the bottom quartile fall well below. However, Market Cap should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Northern Ocean's current Market Cap of $251.2 Mil is 17.4% 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 Market Cap mean?
A high Market Cap can signal that a stock is expensive relative to its fundamentals. Market cap equals the total value of a company's shares: price times shares outstanding. View historical data on Northern Ocean and its competitors. For the Oil & Gas industry, the median Market Cap is 213.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Northern Ocean's current Market Cap is $251.2 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 $0.60, compared to a current price of $0.82 — trading 36.7% above its estimated fair value. The current Market Cap is $251.2 Mil and 17.4% above the Oil & Gas industry median of 213.99. Northern Ocean's overall GF Score™ is 44/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Market Cap calculated?
Market Cap is calculated from a company's financial statements. For Northern Ocean (NTNOF), the current Market Cap is $251.2 Mil as of Jun. 29, 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 36.7% above its estimated GF Value™ of $0.60.
GuruFocus considers Northern Ocean to be Significantly Overvalued.
Key valuation signals for NTNOF:
Market Cap: $251.2 Mil
GF Value™: $0.60 vs. price of $0.82 (36.7% above fair value)
Industry Position: 17.4% above the Oil & Gas median (#488 of 1046)
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 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.
44GF Score
Get the complete analysis for NTNOF
Market Cap is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NTNOF has been successfully added to your 
