SBM OFFSHORE NV (SBMO.AS) Fundamental Analysis & Valuation

AMS:SBMO • NL0000360618

31.88 EUR
+0.84 (+2.71%)
Last: Mar 9, 2026, 05:36 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This SBMO.AS fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

6

We assign a fundamental rating of 6 out of 10 to SBMO. SBMO was compared to 39 industry peers in the Energy Equipment & Services industry. While SBMO has a great profitability rating, there are some minor concerns on its financial health. SBMO may be a bit undervalued, certainly considering the very reasonable score on growth


Dividend Valuation Growth Profitability Health

7

1. SBMO.AS Profitability Analysis

1.1 Basic Checks

  • SBMO had positive earnings in the past year.
  • In the past year SBMO had a positive cash flow from operations.
  • In the past 5 years SBMO has always been profitable.
  • In multiple years SBMO reported negative operating cash flow during the last 5 years.
SBMO.AS Yearly Net Income VS EBIT VS OCF VS FCFSBMO.AS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500M -500M 1B -1B 1.5B

1.2 Ratios

  • The Return On Assets of SBMO (5.09%) is comparable to the rest of the industry.
  • SBMO has a Return On Equity of 20.93%. This is in the better half of the industry: SBMO outperforms 76.92% of its industry peers.
  • The Return On Invested Capital of SBMO (10.99%) is better than 69.23% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for SBMO is below the industry average of 11.00%.
  • The last Return On Invested Capital (10.99%) for SBMO is above the 3 year average (7.62%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 5.09%
ROE 20.93%
ROIC 10.99%
ROA(3y)2.94%
ROA(5y)2.94%
ROE(3y)12.74%
ROE(5y)13.39%
ROIC(3y)7.62%
ROIC(5y)6.97%
SBMO.AS Yearly ROA, ROE, ROICSBMO.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5 -5 10 15 20

1.3 Margins

  • SBMO's Profit Margin of 15.62% is fine compared to the rest of the industry. SBMO outperforms 71.79% of its industry peers.
  • SBMO's Profit Margin has improved in the last couple of years.
  • SBMO's Operating Margin of 30.26% is amongst the best of the industry. SBMO outperforms 94.87% of its industry peers.
  • In the last couple of years the Operating Margin of SBMO has grown nicely.
  • With a decent Gross Margin value of 34.20%, SBMO is doing good in the industry, outperforming 76.92% of the companies in the same industry.
  • SBMO's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 30.26%
PM (TTM) 15.62%
GM 34.2%
OM growth 3Y13.87%
OM growth 5Y8.9%
PM growth 3Y19.47%
PM growth 5Y23.38%
GM growth 3Y12.44%
GM growth 5Y6.11%
SBMO.AS Yearly Profit, Operating, Gross MarginsSBMO.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 20 30 40

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4

2. SBMO.AS Health Analysis

2.1 Basic Checks

  • SBMO has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • SBMO has less shares outstanding than it did 1 year ago.
  • The number of shares outstanding for SBMO has been reduced compared to 5 years ago.
  • Compared to 1 year ago, SBMO has an improved debt to assets ratio.
SBMO.AS Yearly Shares OutstandingSBMO.AS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M
SBMO.AS Yearly Total Debt VS Total AssetsSBMO.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B

2.2 Solvency

  • SBMO has an Altman-Z score of 1.32. This is a bad value and indicates that SBMO is not financially healthy and even has some risk of bankruptcy.
  • SBMO's Altman-Z score of 1.32 is in line compared to the rest of the industry. SBMO outperforms 58.97% of its industry peers.
  • SBMO has a debt to FCF ratio of 8.00. This is a slightly negative value and a sign of low solvency as SBMO would need 8.00 years to pay back of all of its debts.
  • SBMO has a Debt to FCF ratio (8.00) which is comparable to the rest of the industry.
  • SBMO has a Debt/Equity ratio of 1.50. This is a high value indicating a heavy dependency on external financing.
  • SBMO has a Debt to Equity ratio of 1.50. This is amonst the worse of the industry: SBMO underperforms 87.18% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.5
Debt/FCF 8
Altman-Z 1.32
ROIC/WACC1.53
WACC7.2%
SBMO.AS Yearly LT Debt VS Equity VS FCFSBMO.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B 4B 6B 8B

2.3 Liquidity

  • SBMO has a Current Ratio of 1.44. This is a normal value and indicates that SBMO is financially healthy and should not expect problems in meeting its short term obligations.
  • The Current ratio of SBMO (1.44) is comparable to the rest of the industry.
  • A Quick Ratio of 1.37 indicates that SBMO should not have too much problems paying its short term obligations.
  • With a Quick ratio value of 1.37, SBMO perfoms like the industry average, outperforming 51.28% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.44
Quick Ratio 1.37
SBMO.AS Yearly Current Assets VS Current LiabilitesSBMO.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B

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5

3. SBMO.AS Growth Analysis

3.1 Past

  • SBMO shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 526.02%, which is quite impressive.
  • The Earnings Per Share has been growing by 31.34% on average over the past years. This is a very strong growth
  • SBMO shows a strong growth in Revenue. In the last year, the Revenue has grown by 23.39%.
  • The Revenue has been growing by 11.05% on average over the past years. This is quite good.
EPS 1Y (TTM)526.02%
EPS 3Y28.02%
EPS 5Y31.34%
EPS Q2Q%1717.49%
Revenue 1Y (TTM)23.39%
Revenue growth 3Y6.31%
Revenue growth 5Y11.05%
Sales Q2Q%0.12%

3.2 Future

  • SBMO is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -8.19% yearly.
  • SBMO is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -1.74% yearly.
EPS Next Y27.74%
EPS Next 2Y-6.58%
EPS Next 3Y-5.9%
EPS Next 5Y-8.19%
Revenue Next Year31.84%
Revenue Next 2Y-1.27%
Revenue Next 3Y-2.3%
Revenue Next 5Y-1.74%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
SBMO.AS Yearly Revenue VS EstimatesSBMO.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2B 4B 6B
SBMO.AS Yearly EPS VS EstimatesSBMO.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1 2 3 4

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8

4. SBMO.AS Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 9.43, the valuation of SBMO can be described as reasonable.
  • Based on the Price/Earnings ratio, SBMO is valued cheaper than 82.05% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 26.46. SBMO is valued rather cheaply when compared to this.
  • A Price/Forward Earnings ratio of 7.38 indicates a rather cheap valuation of SBMO.
  • Based on the Price/Forward Earnings ratio, SBMO is valued cheaper than 82.05% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 24.65. SBMO is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 9.43
Fwd PE 7.38
SBMO.AS Price Earnings VS Forward Price EarningsSBMO.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • SBMO's Enterprise Value to EBITDA is on the same level as the industry average.
  • SBMO's Price/Free Cash Flow ratio is rather cheap when compared to the industry. SBMO is cheaper than 87.18% of the companies in the same industry.
Industry RankSector Rank
P/FCF 5.52
EV/EBITDA 7.68
SBMO.AS Per share dataSBMO.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20 25

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • The decent profitability rating of SBMO may justify a higher PE ratio.
  • SBMO's earnings are expected to decrease with -5.90% in the coming years. This may justify a cheaper valuation.
PEG (NY)0.34
PEG (5Y)0.3
EPS Next 2Y-6.58%
EPS Next 3Y-5.9%

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5

5. SBMO.AS Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 3.26%, SBMO has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 3.20, SBMO has a dividend in line with its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.82, SBMO pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.26%

5.2 History

  • The dividend of SBMO is nicely growing with an annual growth rate of 27.74%!
Dividend Growth(5Y)27.74%
Div Incr Years1
Div Non Decr Years1
SBMO.AS Yearly Dividends per shareSBMO.AS Yearly Dividends per shareYearly Dividends per share 2019 2021 2022 2023 2024 2025 2026 0.2 0.4 0.6 0.8

5.3 Sustainability

  • 49.02% of the earnings are spent on dividend by SBMO. This is a bit on the high side, but may be sustainable.
DP49.02%
EPS Next 2Y-6.58%
EPS Next 3Y-5.9%
SBMO.AS Yearly Income VS Free CF VS DividendSBMO.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500M -500M 1B -1B 1.5B
SBMO.AS Dividend Payout.SBMO.AS Dividend Payout, showing the Payout Ratio.SBMO.AS Dividend Payout.PayoutRetained Earnings

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SBMO.AS Fundamentals: All Metrics, Ratios and Statistics

SBM OFFSHORE NV

AMS:SBMO (3/9/2026, 5:36:15 PM)

31.88

+0.84 (+2.71%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryEnergy Equipment & Services
Earnings (Last)02-26
Earnings (Next)05-07
Inst Owners42.82%
Inst Owner ChangeN/A
Ins Owners0.45%
Ins Owner ChangeN/A
Market Cap5.46B
Revenue(TTM)5.90B
Net Income(TTM)922.00M
Analysts81.33
Price Target35.53 (11.45%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.26%
Yearly Dividend2.28
Dividend Growth(5Y)27.74%
DP49.02%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)15.6%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)33.61%
EPS NY rev (3m)39.86%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)3.23%
Revenue NY rev (3m)3.23%
Valuation
Industry RankSector Rank
PE 9.43
Fwd PE 7.38
P/S 1.07
P/FCF 5.52
P/OCF 5.2
P/B 1.43
P/tB 1.5
EV/EBITDA 7.68
EPS(TTM)3.38
EY10.6%
EPS(NY)4.32
Fwd EY13.55%
FCF(TTM)5.78
FCFY18.13%
OCF(TTM)6.13
OCFY19.22%
SpS29.8
BVpS22.24
TBVpS21.26
PEG (NY)0.34
PEG (5Y)0.3
Graham Number41.13
Profitability
Industry RankSector Rank
ROA 5.09%
ROE 20.93%
ROCE 13.34%
ROIC 10.99%
ROICexc 11.96%
ROICexgc 12.15%
OM 30.26%
PM (TTM) 15.62%
GM 34.2%
FCFM 19.4%
ROA(3y)2.94%
ROA(5y)2.94%
ROE(3y)12.74%
ROE(5y)13.39%
ROIC(3y)7.62%
ROIC(5y)6.97%
ROICexc(3y)8.13%
ROICexc(5y)7.48%
ROICexgc(3y)8.25%
ROICexgc(5y)7.57%
ROCE(3y)9.25%
ROCE(5y)8.46%
ROICexgc growth 3Y18.96%
ROICexgc growth 5Y10.28%
ROICexc growth 3Y18.73%
ROICexc growth 5Y10.07%
OM growth 3Y13.87%
OM growth 5Y8.9%
PM growth 3Y19.47%
PM growth 5Y23.38%
GM growth 3Y12.44%
GM growth 5Y6.11%
F-Score8
Asset Turnover0.33
Health
Industry RankSector Rank
Debt/Equity 1.5
Debt/FCF 8
Debt/EBITDA 3.56
Cap/Depr 104.55%
Cap/Sales 1.17%
Interest Coverage 4.43
Cash Conversion 65.55%
Profit Quality 124.19%
Current Ratio 1.44
Quick Ratio 1.37
Altman-Z 1.32
F-Score8
WACC7.2%
ROIC/WACC1.53
Cap/Depr(3y)178.81%
Cap/Depr(5y)137.47%
Cap/Sales(3y)2.36%
Cap/Sales(5y)2.08%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)526.02%
EPS 3Y28.02%
EPS 5Y31.34%
EPS Q2Q%1717.49%
EPS Next Y27.74%
EPS Next 2Y-6.58%
EPS Next 3Y-5.9%
EPS Next 5Y-8.19%
Revenue 1Y (TTM)23.39%
Revenue growth 3Y6.31%
Revenue growth 5Y11.05%
Sales Q2Q%0.12%
Revenue Next Year31.84%
Revenue Next 2Y-1.27%
Revenue Next 3Y-2.3%
Revenue Next 5Y-1.74%
EBIT growth 1Y91.22%
EBIT growth 3Y21.06%
EBIT growth 5Y20.93%
EBIT Next Year69.52%
EBIT Next 3Y8.19%
EBIT Next 5Y0.82%
FCF growth 1Y-16.18%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-18.08%
OCF growth 3YN/A
OCF growth 5YN/A

SBM OFFSHORE NV / SBMO.AS FAQ

What is the fundamental rating for SBMO stock?

ChartMill assigns a fundamental rating of 6 / 10 to SBMO.AS.


Can you provide the valuation status for SBM OFFSHORE NV?

ChartMill assigns a valuation rating of 8 / 10 to SBM OFFSHORE NV (SBMO.AS). This can be considered as Undervalued.


Can you provide the profitability details for SBM OFFSHORE NV?

SBM OFFSHORE NV (SBMO.AS) has a profitability rating of 7 / 10.


Can you provide the expected EPS growth for SBMO stock?

The Earnings per Share (EPS) of SBM OFFSHORE NV (SBMO.AS) is expected to grow by 27.74% in the next year.


How sustainable is the dividend of SBM OFFSHORE NV (SBMO.AS) stock?

The dividend rating of SBM OFFSHORE NV (SBMO.AS) is 5 / 10 and the dividend payout ratio is 49.02%.