Odfjell Drilling

ODL.OL

Oil & Gas Drilling · Energy

Exchange

Oslo Stock Exchange

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Exceptional

Cash Flow

Good

Stability

Good

Valuation

Good

Dividends

Exceptional

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Winston Score History

The full picture

Odfjell Drilling is a Norwegian company that provides offshore drilling services to oil and gas companies. It operates large mobile drilling rigs — mainly semi-submersibles — that are used to drill wells in deep and harsh ocean environments. Its main customers are major oil companies and national energy firms operating in the North Sea and other offshore regions.

The company earns money by renting out its drilling rigs under long-term contracts, charging a daily rate for the equipment and crew. It is headquartered in Bergen, Norway, and operates primarily in the North Sea, where it has built a strong reputation for working in technically demanding, high-cost environments. Its competitive position comes from specialized expertise in harsh-weather drilling and a relatively modern rig fleet. The main risk the business faces is that day rates and contract demand are closely tied to oil prices, meaning a sustained drop in crude prices could quickly reduce customer spending on new drilling activity.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+122.6% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+35.3% YoY

YoY Growth Rate

Strong earnings growth

Insider Activity

60.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

kr 92M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Odfjell Drilling grew revenue 123% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

-0.0%

Thin — -0.0% gross margin

Profit after running costs

Operating Margin

-0.0%

Losing money on operations — -0.0%

Return on the money invested

ROCE

10.5%

Below par — 10.5% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+88.1%

Fast-growing sales (+88.1% YoY)

Profit growth

EPS YoY

+113.8%

Earnings growing fast (+113.8% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

181%

Turns 181% of profit into real cash

Spare cash per sale

FCF Margin

-17.3%

Burning cash (-17.3%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.65

Moderate — manageable debt (0.65)

Covers its interest

Interest Cover

2.90x

Tight — interest eats into profit (2.9x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

10.5x

no trend

Attractive valuation — P/E 10.5

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

+0.8

GROWING

Earnings roughly flat

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Dividends

Dividend

Dividend Yield

9.19%

no trend

Healthy income — 9.19% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record

Dividend Growth

+94.1%

no trend

Dividend growing fast (94.1% YoY)

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