Northern Ocean 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	Mar '26 Mar 12, 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	2,729	2,617	2,338	1,998	1,734	433
Market Cap Growth	21.62%	11.93%	16.98%	15.22%	300.37%	-48.95%
Enterprise Value	3,359	7,580	6,999	7,512	6,413	4,465
Last Close Price	9.00	8.63	7.71	10.94	9.55	6.31
Forward PE	-	-	-	-	40.04	-
PS Ratio	1.00	0.95	0.81	0.91	8.13	0.85
PB Ratio	0.78	0.75	0.46	0.45	0.35	0.10
P/TBV Ratio	0.78	0.75	0.46	0.45	0.35	0.10
P/OCF Ratio	61.37	58.85	-	-	-	-
EV/Sales Ratio	1.22	2.76	2.44	3.41	30.05	8.73
EV/EBITDA Ratio	14.87	33.56	15.51	38.37	-	-
Debt / Equity Ratio	0.29	0.29	1.19	1.24	0.95	0.95
Debt / EBITDA Ratio	4.46	4.46	13.37	28.06	-	-
Net Debt / Equity Ratio	0.18	0.18	1.09	1.12	0.82	0.93
Net Debt / EBITDA Ratio	2.79	2.79	12.29	25.25	-17.43	-62.95
Net Debt / FCF Ratio	-1.17	-1.17	-6.52	-6.13	-7.20	-21.03
Asset Turnover	0.35	0.35	0.24	0.21	0.02	0.06
Quick Ratio	0.41	0.41	1.47	0.65	1.14	0.57
Current Ratio	0.42	0.42	1.53	0.84	1.70	1.22
Return on Equity (ROE)	-25.95%	-25.95%	-14.87%	-15.03%	-18.53%	-2.20%
Return on Assets (ROA)	-2.66%	-2.66%	-0.61%	-1.40%	-3.94%	-2.96%
Return on Capital Employed (ROCE)	-9.40%	-9.40%	-1.10%	-2.60%	-6.60%	-5.20%
Earnings Yield	-37.92%	-39.55%	-31.91%	-35.97%	-52.76%	-22.42%
FCF Yield	-19.71%	-20.56%	-36.37%	-40.37%	-32.66%	-44.77%
Buyback Yield / Dilution	-7.12%	-7.12%	-55.11%	-58.02%	-81.02%	-0.02%

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