Golden Ocean Group Valuation

Undetailed Valuation: Company is overpriced at today’s market, but it has been risen %70 from the time I added to my watchlist due to its low ratios. Also overpriced relative to other sea transport companies but it has high growth expectations.

on this valuation I did not cover all details due to lack of time because of my studies: Instead of using reinvestments and roe, I used growth years of past years for future growth rate assumption. I used exit multiplies method for finding terminal value, and I assumed that amortization and reinvestment have the constant growth rate as the average growth rates of past years, in more comprehensive valuations, percentages of amortizations and reinvestments regarding sales should be used.

valuation is attached with excel file: