BW Offshore Ratios and Metrics

Market cap in millions NOK. Fiscal year is January - December.

Millions NOK. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Apr '26 Apr 20, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Capitalization	9,015	8,221	5,415	4,054	4,495	5,135
Market Cap Growth	70.75%	51.81%	33.59%	-9.81%	-12.46%	-24.71%
Enterprise Value	22,920	21,902	20,337	19,519	17,370	14,559
Last Close Price	49.75	43.67	26.00	17.52	17.50	17.36
PE Ratio	6.67	6.07	3.95	3.98	3.52	9.31
Forward PE	6.19	5.72	5.49	1.11	3.75	4.71
PS Ratio	1.76	1.60	0.79	0.61	0.59	0.70
PB Ratio	0.69	0.63	0.38	0.33	0.40	0.57
P/TBV Ratio	0.84	0.77	0.47	0.43	0.53	0.86
P/FCF Ratio	11.75	10.72	-	-	-	2.71
P/OCF Ratio	2.19	1.99	1.31	0.72	0.70	1.14
EV/Sales Ratio	4.46	4.26	2.95	2.92	2.28	1.99
EV/EBITDA Ratio	10.01	9.29	5.79	6.49	5.27	4.19
EV/EBIT Ratio	17.15	15.03	12.78	16.27	12.88	12.44
EV/FCF Ratio	29.88	28.55	-	-	-	7.69
Debt / Equity Ratio	1.26	1.26	1.28	1.31	1.11	1.12
Debt / EBITDA Ratio	6.81	6.81	5.05	5.15	3.71	2.84
Debt / FCF Ratio	21.39	21.39	-	-	-	5.31
Net Debt / Equity Ratio	0.95	0.95	1.04	1.01	0.91	0.85
Net Debt / EBITDA Ratio	5.27	5.27	4.18	4.06	3.11	2.19
Net Debt / FCF Ratio	16.20	16.20	-76.02	-4.91	-13.16	4.03
Asset Turnover	0.12	0.12	0.15	0.18	0.24	0.30
Inventory Turnover	-	-	50.16	50.67	22.22	12.52
Quick Ratio	1.72	1.72	2.21	1.03	0.84	1.01
Current Ratio	1.75	1.75	2.25	1.05	0.89	1.38
Return on Equity (ROE)	10.57%	10.57%	9.81%	8.32%	11.92%	6.33%
Return on Assets (ROA)	2.17%	2.17%	2.19%	1.98%	2.63%	2.97%
Return on Invested Capital (ROIC)	4.97%	4.93%	5.34%	4.44%	5.80%	7.02%
Return on Capital Employed (ROCE)	3.60%	3.60%	3.70%	3.40%	4.70%	5.40%
Earnings Yield	15.02%	16.47%	25.30%	25.11%	28.43%	10.74%
FCF Yield	8.51%	9.33%	-3.57%	-61.48%	-17.36%	36.85%
Dividend Yield	6.35%	-	14.31%	11.17%	7.88%	7.10%
Payout Ratio	44.08%	44.08%	41.29%	25.20%	19.51%	40.41%
Buyback Yield / Dilution	10.09%	10.09%	2.70%	1.82%	1.90%	-18.97%
Total Shareholder Return	16.44%	10.09%	17.01%	13.00%	9.79%	-11.86%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.