Financials SFL Corporation Ltd.

Equities

SFL

BMG7738W1064

Oil & Gas Transportation Services

Market Closed - Nyse 04:00:01 2024-04-26 pm EDT 5-day change 1st Jan Change
13.24 USD +0.76% Intraday chart for SFL Corporation Ltd. +4.17% +17.38%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,565 685.4 1,033 1,169 1,418 1,665 - -
Enterprise Value (EV) 1 4,011 2,665 3,280 3,647 3,813 3,958 3,713 3,539
P/E ratio 17.5 x -3.08 x 6.04 x 5.8 x 16.8 x 12.6 x 10.6 x 11.4 x
Yield 9.63% 12.7% 8.34% 9.54% - 8.04% 8.41% 8.65%
Capitalization / Revenue 3.41 x 1.46 x 2.01 x 1.83 x 1.88 x 1.96 x 2 x 1.95 x
EV / Revenue 8.74 x 5.66 x 6.39 x 5.7 x 5.07 x 4.65 x 4.47 x 4.15 x
EV / EBITDA 11.7 x 6.93 x 9.16 x 8.22 x 8.28 x 7.42 x 7.22 x 7.05 x
EV / FCF 50.3 x 12 x -34.4 x -25.3 x 48.5 x 15.8 x 9.58 x 9.12 x
FCF Yield 1.99% 8.31% -2.91% -3.95% 2.06% 6.34% 10.4% 11%
Price to Book 1.41 x 0.86 x 1.05 x 1.07 x - 1.59 x 1.6 x 1.6 x
Nbr of stocks (in thousands) 107,625 109,141 126,786 126,796 125,701 125,745 - -
Reference price 2 14.54 6.280 8.150 9.220 11.28 13.24 13.24 13.24
Announcement Date 2/18/20 2/17/21 2/16/22 2/15/23 2/14/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 459 470.8 513.4 639.5 752.3 850.7 831 853.7
EBITDA 1 343 384.6 358.2 443.9 460.5 533.4 514.5 501.9
EBIT 1 197.8 192.7 206.5 256.1 240.2 285.6 272.9 269.2
Operating Margin 43.1% 40.94% 40.21% 40.05% 31.93% 33.57% 32.84% 31.53%
Earnings before Tax (EBT) 1 89.18 -224.4 164.3 202.8 87.26 138.2 169 146.2
Net income 1 89.18 -224 164.3 202.8 83.94 132.4 156.3 146.2
Net margin 19.43% -47.59% 32.01% 31.71% 11.16% 15.57% 18.8% 17.13%
EPS 2 0.8300 -2.040 1.350 1.590 0.6700 1.055 1.246 1.160
Free Cash Flow 1 79.83 221.5 -95.46 -144 78.67 251 387.5 388
FCF margin 17.39% 47.04% -18.59% -22.51% 10.46% 29.51% 46.63% 45.45%
FCF Conversion (EBITDA) 23.27% 57.58% - - 17.08% 47.06% 75.31% 77.3%
FCF Conversion (Net income) 89.51% - - - 93.73% 189.52% 248% 265.37%
Dividend per Share 2 1.400 0.8000 0.6800 0.8800 - 1.065 1.114 1.145
Announcement Date 2/18/20 2/17/21 2/16/22 2/15/23 2/14/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 135.4 152.1 152.4 153.3 166.9 197.8 173.3 164.6 204.9 209.6 208 193.1 231.2 211 200.6
EBITDA 1 100.7 110.2 119 115.8 126 123.3 101 103 122.4 131.1 133 110.9 156.8 132.7 119.2
EBIT 1 54.69 64.6 59.33 63.08 65.46 74.38 49.94 51.85 65.38 73.01 71.46 53.93 89.95 70.43 54.25
Operating Margin 40.39% 42.48% 38.93% 41.15% 39.22% 37.6% 28.82% 31.51% 31.91% 34.84% 34.35% 27.93% 38.91% 33.38% 27.05%
Earnings before Tax (EBT) 1 33.21 80.12 47.02 57.41 49.88 48.45 6.332 16.93 29.3 32.4 33.35 16.33 47.85 40.73 23
Net income 1 33.2 80.12 47.02 57.41 49.88 48.45 6.332 16.93 29.3 31.37 32.36 15.44 51.66 33.24 20.4
Net margin 24.52% 52.69% 30.86% 37.45% 29.89% 24.49% 3.65% 10.29% 14.3% 14.97% 15.56% 8% 22.35% 15.75% 10.17%
EPS 2 0.2600 0.6300 0.3700 0.4500 0.3900 0.3800 0.0500 0.1300 0.2300 0.2500 0.2568 0.1207 0.4081 0.2656 0.1650
Dividend per Share 2 0.1800 0.2000 0.2000 0.2300 0.2300 0.2300 0.2400 0.2400 0.2500 - 0.2625 0.2650 0.2675 0.2700 0.2600
Announcement Date 11/10/21 2/16/22 5/12/22 8/17/22 11/14/22 2/15/23 5/15/23 8/17/23 11/8/23 2/14/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 2,446 1,979 2,247 2,478 2,395 2,293 2,048 1,874
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 7.132 x 5.146 x 6.272 x 5.583 x 5.201 x 4.299 x 3.981 x 3.734 x
Free Cash Flow 1 79.8 221 -95.5 -144 78.7 251 388 388
ROE (net income / shareholders' equity) 7.8% 11.2% 18.5% 19.6% 7.88% 13.3% 16.2% 14.1%
ROA (Net income/ Total Assets) 2.3% -6.42% 5.02% 5.54% 2.21% 3.6% 3.4% 4.5%
Assets 1 3,882 3,489 3,276 3,660 3,796 3,679 4,596 3,249
Book Value Per Share 2 10.30 7.300 7.750 8.610 - 8.330 8.270 8.260
Cash Flow per Share - 2.540 2.400 - - - - -
Capex 1 39.3 55 582 602 264 100 - -
Capex / Sales 8.57% 11.69% 113.29% 94.22% 35.15% 11.76% - -
Announcement Date 2/18/20 2/17/21 2/16/22 2/15/23 2/14/24 - - -
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
D+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
5
Last Close Price
13.24 USD
Average target price
12.5 USD
Spread / Average Target
-5.59%
Consensus
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  4. Financials SFL Corporation Ltd.