Northern Ocean Ltd. (OSL:NOL)

Northern Ocean Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Equivalents	28.11	37.51	42.75	54.35	67.49	5.46
Short-Term Investments	-	0.04	0.04	0.04	0.04	1.19
Cash & Short-Term Investments	28.11	37.55	42.79	54.39	67.53	6.65
Cash Growth	-51.56%	-12.25%	-21.33%	-19.46%	915.78%	-82.26%
Accounts Receivable	3.73	25.02	54.97	47.91	19.16	-
Other Receivables	4.91	3.37	0.6	0.62	3.91	4.51
Receivables	8.64	28.39	55.57	48.53	23.07	4.51
Inventory	-	-	0.34	-	0.49	-
Restricted Cash	0.13	0.17	0.14	0.14	5.43	10.15
Other Current Assets	0.17	1.06	3.67	29.13	38.29	2.45
Total Current Assets	37.05	67.17	102.5	132.19	134.8	23.76
Property, Plant & Equipment	434.81	439.86	929.07	923.59	917.71	953.76
Long-Term Deferred Tax Assets	-	-	-	-	-	0.04
Long-Term Deferred Charges	-	-	-	-	1.27	-
Total Assets	471.86	507.02	1,032	1,056	1,054	977.55

Liabilities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Accounts Payable	6.05	9.44	12.59	5.17	7.66	2.33
Accrued Expenses	30.85	36.94	17.57	43.48	27.33	4.21
Current Portion of Long-Term Debt	100	100	14.95	83.7	19.97	10
Current Portion of Leases	0.02	0.03	0.12	0.11	0.2	-
Current Unearned Revenue	0.11	0.11	3.97	14.74	22.22	1.92
Other Current Liabilities	12.32	12.96	17.76	11.02	1.98	1
Total Current Liabilities	149.36	159.47	66.95	158.22	79.36	19.46
Long-Term Debt	-	-	515.85	457.95	461.23	459.53
Long-Term Leases	-	-	-	-	0.16	-
Long-Term Unearned Revenue	2.47	2.5	2.61	2.72	6.24	2.93
Total Liabilities	151.82	161.97	585.4	618.89	546.98	481.92

Shareholders' Equity

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Common Stock	151.61	151.61	151.61	91.34	90.81	63.8
Additional Paid-In Capital	581.15	580.99	580.21	565.61	565.18	488.33
Retained Earnings	-411.41	-388.27	-285.6	-219.95	-149.05	-56.16
Comprehensive Income & Other	-1.32	0.73	-0.05	-0.11	-0.15	-0.35
Shareholders' Equity	320.03	345.05	446.16	436.9	506.8	495.63
Total Liabilities & Equity	471.86	507.02	1,032	1,056	1,054	977.55

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Total Debt	100.02	100.03	530.91	541.76	481.56	469.53
Net Cash (Debt)	-71.91	-62.48	-488.13	-487.37	-414.03	-462.88
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-0.23	-0.21	-1.72	-2.67	-3.58	-7.25
Filing Date Shares Outstanding	303.22	303.22	303.22	182.68	181.62	103.8
Total Common Shares Outstanding	303.22	303.22	303.22	182.68	181.62	63.8
Working Capital	-112.31	-92.31	35.55	-26.04	55.45	4.31
Book Value Per Share	1.06	1.14	1.47	2.39	2.79	7.77
Tangible Book Value	320.03	345.05	446.16	436.9	506.8	495.63
Tangible Book Value Per Share	1.06	1.14	1.47	2.39	2.79	7.77
Machinery	567.21	564.69	1,104	1,067	1,033	1,029
Order Backlog	-	17	-	-	-	-

Data Source: S&P Global Market Intelligence Last updated: Mar 31, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 27, 2026

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