Financials SBM Offshore N.V

Equities

SBMO

NL0000360618

Oil Related Services and Equipment

Market Closed - Euronext Amsterdam 11:35:06 2024-04-26 am EDT 5-day change 1st Jan Change
14.09 EUR -0.07% Intraday chart for SBM Offshore N.V -3.23% +13.17%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 3,638 3,331 2,631 2,794 2,460 2,683 - -
Enterprise Value (EV) 1 8,054 7,424 9,311 10,675 2,460 9,631 10,410 8,777
P/E ratio 15.8 x 95.1 x 22.6 x 24.1 x 4.71 x 15.1 x 8.53 x 13.9 x
Yield 4.09% 4.66% 6.72% 7.01% - 7.76% 8.57% 8.51%
Capitalization / Revenue 1.68 x 1.45 x 1.17 x 0.85 x 0.54 x 0.77 x 0.58 x 0.74 x
EV / Revenue 3.71 x 3.24 x 4.15 x 3.25 x 0.54 x 2.78 x 2.27 x 2.42 x
EV / EBITDA 9.68 x 7.86 x 10 x 10.6 x 1.86 x 8.51 x 7.64 x 6.91 x
EV / FCF -8.96 x -43.9 x -12.1 x -19.7 x - -13.5 x 68 x -36.7 x
FCF Yield -11.2% -2.28% -8.25% -5.09% - -7.4% 1.47% -2.72%
Price to Book 1.34 x 1.38 x 1.06 x 0.83 x - 0.65 x 0.6 x -
Nbr of stocks (in thousands) 195,585 175,228 176,682 178,062 179,012 178,397 - -
Reference price 2 18.60 19.01 14.89 15.69 13.74 15.04 15.04 15.04
Announcement Date 2/13/20 2/11/21 2/10/22 2/23/23 2/29/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 2,171 2,291 2,242 3,288 4,532 3,468 4,589 3,621
EBITDA 1 832 944 931 1,010 1,319 1,132 1,363 1,270
EBIT 1 329 629 366 392 - 602.5 798.4 667.9
Operating Margin 15.15% 27.46% 16.32% 11.92% - 17.37% 17.4% 18.44%
Earnings before Tax (EBT) 1 542 366 543 660 - 350 417 156
Net income 1 235 38 121 115 524 225.6 295.9 200.6
Net margin 10.82% 1.66% 5.4% 3.5% 11.56% 6.5% 6.45% 5.54%
EPS 2 1.180 0.2000 0.6600 0.6500 2.920 0.9959 1.764 1.082
Free Cash Flow 1 -899 -169 -768 -543 - -713 153 -239
FCF margin -41.41% -7.38% -34.26% -16.51% - -20.56% 3.33% -6.6%
FCF Conversion (EBITDA) - - - - - - 11.22% -
FCF Conversion (Net income) - - - - - - 51.7% -
Dividend per Share 2 0.7600 0.8854 1.000 1.100 - 1.167 1.289 1.280
Announcement Date 2/13/20 2/11/21 2/10/22 2/23/23 2/29/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2022 S1 2022 S2 2023 S1
Net sales 1,206 1,179 1,112 - - -
EBITDA 433 523 421 - 429 -
EBIT 178 - 297 - - -
Operating Margin 14.76% - 26.71% - - -
Earnings before Tax (EBT) - - - - - -
Net income 1 174 38 - 296 -181 179
Net margin 14.43% 3.22% - - - -
EPS 2 0.8800 0.2000 - 1.650 - 0.9900
Dividend per Share - - - - - -
Announcement Date 2/13/20 8/6/20 2/11/21 8/4/22 2/23/23 8/10/23
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 4,416 4,093 6,680 7,881 - 6,948 7,726 6,093
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 5.308 x 4.336 x 7.175 x 7.803 x - 6.139 x 5.668 x 4.797 x
Free Cash Flow 1 -899 -169 -768 -543 - -713 153 -239
ROE (net income / shareholders' equity) 8.73% 9.27% 16.6% 13.7% - 12.1% 17.5% 7.5%
ROA (Net income/ Total Assets) - 3.88% - - - - - -
Assets 1 - 979.4 - - - - - -
Book Value Per Share 2 13.80 13.80 14.00 18.80 - 23.10 25.30 -
Cash Flow per Share 2 -0.1100 -0.6700 3.890 4.490 - 2.870 4.670 5.180
Capex 1 679 41 1,483 1,342 - 1,299 946 532
Capex / Sales 31.28% 1.79% 66.15% 40.82% - 37.45% 20.6% 14.68%
Announcement Date 2/13/20 2/11/21 2/10/22 2/23/23 2/29/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
7
Last Close Price
15.04 USD
Average target price
21.47 USD
Spread / Average Target
+42.73%
Consensus
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