Update shared on 27 Oct 2025
Analysts have maintained their fair value estimate for SBM Offshore at €27.82 per share. They cite minimal changes in underlying assumptions and a stable outlook for the company.
What's in the News
- FPSO ONE GUYANA produced first oil on August 8, 2025 and is now formally on hire, marking SBM Offshore's fourth and largest FPSO operating in Guyana and expanding installed capacity significantly (source: Key Developments)
- The company has launched three major Fast4 Ward® FPSOs in 2025, increasing total installed capacity by 655,000 barrels of oil per day (source: Key Developments)
- SBM Offshore N.V. raised its 2025 earnings guidance, projecting revenues above USD 5.0 billion, with over USD 2.2 billion from the Lease and Operate segment and around USD 2.8 billion from the Turnkey segment (source: Key Developments)
- Between April 24 and August 6, 2025, SBM Offshore repurchased 2,265,320 shares for €47.94 million, completing the buyback announced earlier in the year (source: Key Developments)
Valuation Changes
- Fair Value Estimate remains unchanged at €27.82 per share.
- Discount Rate has fallen slightly, moving from 9.43 percent to 9.37 percent.
- Revenue Growth projection is stable, showing a negligible change and remaining at negative 1.19 percent.
- Net Profit Margin estimate is effectively unchanged, at approximately 11.35 percent.
- Future P/E ratio has decreased marginally, shifting from 11.88x to 11.87x.
Disclaimer
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