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SBM Offshore N.V.ENXTAM:SBMO Stock Report

Market Cap €3.8b
Share Price
€21.94
My Fair Value
€35
36.9% undervalued intrinsic discount
1Y36.1%
7D0.5%
Portfolio Value
​
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SBM Offshore N.V.

ENXTAM:SBMO Stock Report

Market Cap: €3.8b

SBM Offshore (SBMO) Stock Overview

Provides floating production solutions to the offshore energy industry worldwide. More details

SBMO fundamental analysis
Snowflake Score
Valuation4/6
Future Growth3/6
Past Performance2/6
Financial Health3/6
Dividends3/6

Rewards

Trading at 71.7% below our estimate of its fair value

Earnings are forecast to grow 17.3% per year

Analysts in good agreement that stock price will rise by 25.1%

Risk Analysis

Interest payments are not well covered by earnings

Unstable dividend track record


SBMO Community Fair Values

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See what 28 others think this stock is worth. Follow their fair value or set your own to get alerts.

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SBM Offshore

Rising Global Demand Will Fuel Deepwater And Offshore Green Projects

Key Takeaways Industry-leading project delivery and innovation position SBM Offshore for greater revenue and margin growth than current forecasts anticipate. Early entry into new markets and regions, along with strong contract structures, enhances long-term diversification and earnings resilience.
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€34.77
FV
36.9% undervalued intrinsic discount
12.56%
Revenue growth p.a.
0users have liked this narrative
0users have commented on this narrative
2users have followed this narrative
2 days ago author updated this narrative
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SBM Offshore

Modular Deepwater FPSO Solutions Will Unlock Offshore Opportunities

Key Takeaways Growing global offshore demand, technological innovation, and contract wins position SBM Offshore for enhanced profitability and stable cash flows. Diversification into renewables and ocean infrastructure opens high-growth opportunities beyond traditional oil and gas markets.
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€27.45
FV
20.1% undervalued intrinsic discount
-1.19%
Revenue growth p.a.
2users have liked this narrative
0users have commented on this narrative
14users have followed this narrative
9 days ago author updated this narrative
SBMO logo
SBM Offshore

Deepwater FPSO Risks Will Hamper Outlook With Modest Diversification Gains

Key Takeaways Heavy reliance on offshore oil and gas projects and major clients exposes long-term revenue and earnings to energy transition and changing investment priorities. Rising project complexity, technical risks, and industry competition threaten margins, while diversification efforts face slow adoption and execution challenges.
View narrative
€23.83
FV
7.9% undervalued intrinsic discount
1.52%
Revenue growth p.a.
0users have liked this narrative
0users have commented on this narrative
0users have followed this narrative
9 days ago author updated this narrative
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SBM Offshore N.V. Competitors

Price History & Performance

Summary of share price highs, lows and changes for SBM Offshore
Historical stock prices
Current Share Price€21.94
52 Week High€23.66
52 Week Low€15.31
Beta0.75
1 Month Change-1.35%
3 Month Change-2.40%
1 Year Change36.10%
3 Year Change58.99%
5 Year Change51.57%
Change since IPO1,415.98%

Recent News & Updates

There May Be Reason For Hope In SBM Offshore's (AMS:SBMO) Disappointing Earnings

Aug 14
There May Be Reason For Hope In SBM Offshore's (AMS:SBMO) Disappointing Earnings

Getting In Cheap On SBM Offshore N.V. (AMS:SBMO) Might Be Difficult

Jul 13
Getting In Cheap On SBM Offshore N.V. (AMS:SBMO) Might Be Difficult

There Are Reasons To Feel Uneasy About SBM Offshore's (AMS:SBMO) Returns On Capital

Jun 25
There Are Reasons To Feel Uneasy About SBM Offshore's (AMS:SBMO) Returns On Capital

Recent updates

There May Be Reason For Hope In SBM Offshore's (AMS:SBMO) Disappointing Earnings

Aug 14
There May Be Reason For Hope In SBM Offshore's (AMS:SBMO) Disappointing Earnings

Getting In Cheap On SBM Offshore N.V. (AMS:SBMO) Might Be Difficult

Jul 13
Getting In Cheap On SBM Offshore N.V. (AMS:SBMO) Might Be Difficult

There Are Reasons To Feel Uneasy About SBM Offshore's (AMS:SBMO) Returns On Capital

Jun 25
There Are Reasons To Feel Uneasy About SBM Offshore's (AMS:SBMO) Returns On Capital

SBM Offshore's (AMS:SBMO) Upcoming Dividend Will Be Larger Than Last Year's

Apr 08
SBM Offshore's (AMS:SBMO) Upcoming Dividend Will Be Larger Than Last Year's

SBM Offshore (AMS:SBMO) Use Of Debt Could Be Considered Risky

Mar 28
SBM Offshore (AMS:SBMO) Use Of Debt Could Be Considered Risky

Earnings Tell The Story For SBM Offshore N.V. (AMS:SBMO)

Mar 12
Earnings Tell The Story For SBM Offshore N.V. (AMS:SBMO)
User avatar

FPSO Expansion And Decarbonization Initiatives Will Improve Future Prospects

SBM Offshore's focus on high-potential FPSO contracts and Fast4Ward projects aims to boost future revenue and cash flow through sustained deepwater demand.

Time To Worry? Analysts Are Downgrading Their SBM Offshore N.V. (AMS:SBMO) Outlook

Feb 23
Time To Worry? Analysts Are Downgrading Their SBM Offshore N.V. (AMS:SBMO) Outlook

Slowing Rates Of Return At SBM Offshore (AMS:SBMO) Leave Little Room For Excitement

Feb 17
Slowing Rates Of Return At SBM Offshore (AMS:SBMO) Leave Little Room For Excitement

Time To Worry? Analysts Just Downgraded Their SBM Offshore N.V. (AMS:SBMO) Outlook

Dec 18
Time To Worry? Analysts Just Downgraded Their SBM Offshore N.V. (AMS:SBMO) Outlook

SBM Offshore N.V.'s (AMS:SBMO) Earnings Are Not Doing Enough For Some Investors

Nov 20
SBM Offshore N.V.'s (AMS:SBMO) Earnings Are Not Doing Enough For Some Investors

Returns At SBM Offshore (AMS:SBMO) Appear To Be Weighed Down

Oct 20
Returns At SBM Offshore (AMS:SBMO) Appear To Be Weighed Down

Is SBM Offshore (AMS:SBMO) Using Too Much Debt?

Oct 06
Is SBM Offshore (AMS:SBMO) Using Too Much Debt?

We Ran A Stock Scan For Earnings Growth And SBM Offshore (AMS:SBMO) Passed With Ease

Sep 09
We Ran A Stock Scan For Earnings Growth And SBM Offshore (AMS:SBMO) Passed With Ease

Analyst Forecasts For SBM Offshore N.V. (AMS:SBMO) Are Surging Higher

Aug 13
Analyst Forecasts For SBM Offshore N.V. (AMS:SBMO) Are Surging Higher

The Market Doesn't Like What It Sees From SBM Offshore N.V.'s (AMS:SBMO) Earnings Yet

Jul 17
The Market Doesn't Like What It Sees From SBM Offshore N.V.'s (AMS:SBMO) Earnings Yet

Investors Met With Slowing Returns on Capital At SBM Offshore (AMS:SBMO)

Jun 25
Investors Met With Slowing Returns on Capital At SBM Offshore (AMS:SBMO)

Estimating The Fair Value Of SBM Offshore N.V. (AMS:SBMO)

May 29
Estimating The Fair Value Of SBM Offshore N.V. (AMS:SBMO)

Here's Why SBM Offshore (AMS:SBMO) Has Caught The Eye Of Investors

Apr 18
Here's Why SBM Offshore (AMS:SBMO) Has Caught The Eye Of Investors

Is SBM Offshore (AMS:SBMO) A Risky Investment?

Apr 04
Is SBM Offshore (AMS:SBMO) A Risky Investment?

Investors Don't See Light At End Of SBM Offshore N.V.'s (AMS:SBMO) Tunnel

Mar 20
Investors Don't See Light At End Of SBM Offshore N.V.'s (AMS:SBMO) Tunnel

SBM Offshore (AMS:SBMO) Has More To Do To Multiply In Value Going Forward

Mar 07
SBM Offshore (AMS:SBMO) Has More To Do To Multiply In Value Going Forward

A Look At The Fair Value Of SBM Offshore N.V. (AMS:SBMO)

Jan 30
A Look At The Fair Value Of SBM Offshore N.V. (AMS:SBMO)

Upgrade: Analysts Just Made A Meaningful Increase To Their SBM Offshore N.V. (AMS:SBMO) Forecasts

Nov 15
Upgrade: Analysts Just Made A Meaningful Increase To Their SBM Offshore N.V. (AMS:SBMO) Forecasts

Calculating The Fair Value Of SBM Offshore N.V. (AMS:SBMO)

Oct 10
Calculating The Fair Value Of SBM Offshore N.V. (AMS:SBMO)

Returns Are Gaining Momentum At SBM Offshore (AMS:SBMO)

Aug 07
Returns Are Gaining Momentum At SBM Offshore (AMS:SBMO)

SBM Offshore (AMS:SBMO) Ticks All The Boxes When It Comes To Earnings Growth

Jul 17
SBM Offshore (AMS:SBMO) Ticks All The Boxes When It Comes To Earnings Growth

Estimating The Fair Value Of SBM Offshore N.V. (AMS:SBMO)

Jul 02
Estimating The Fair Value Of SBM Offshore N.V. (AMS:SBMO)

Investors Will Want SBM Offshore's (AMS:SBMO) Growth In ROCE To Persist

May 05
Investors Will Want SBM Offshore's (AMS:SBMO) Growth In ROCE To Persist

Calculating The Fair Value Of SBM Offshore N.V. (AMS:SBMO)

Mar 30
Calculating The Fair Value Of SBM Offshore N.V. (AMS:SBMO)

Is SBM Offshore (AMS:SBMO) Using Too Much Debt?

Mar 12
Is SBM Offshore (AMS:SBMO) Using Too Much Debt?

Return Trends At SBM Offshore (AMS:SBMO) Aren't Appealing

Jan 22
Return Trends At SBM Offshore (AMS:SBMO) Aren't Appealing

SBM Offshore (AMS:SBMO) Takes On Some Risk With Its Use Of Debt

Dec 06
SBM Offshore (AMS:SBMO) Takes On Some Risk With Its Use Of Debt

Should You Be Adding SBM Offshore (AMS:SBMO) To Your Watchlist Today?

Nov 23
Should You Be Adding SBM Offshore (AMS:SBMO) To Your Watchlist Today?

A Look At The Fair Value Of SBM Offshore N.V. (AMS:SBMO)

Oct 27
A Look At The Fair Value Of SBM Offshore N.V. (AMS:SBMO)

Investors Met With Slowing Returns on Capital At SBM Offshore (AMS:SBMO)

Oct 12
Investors Met With Slowing Returns on Capital At SBM Offshore (AMS:SBMO)

Here's Why SBM Offshore (AMS:SBMO) Is Weighed Down By Its Debt Load

Aug 25
Here's Why SBM Offshore (AMS:SBMO) Is Weighed Down By Its Debt Load

SBM Offshore (AMS:SBMO) Hasn't Managed To Accelerate Its Returns

Jul 08
SBM Offshore (AMS:SBMO) Hasn't Managed To Accelerate Its Returns

Estimating The Fair Value Of SBM Offshore N.V. (AMS:SBMO)

Jun 22
Estimating The Fair Value Of SBM Offshore N.V. (AMS:SBMO)

SBM Offshore (AMS:SBMO) Hasn't Managed To Accelerate Its Returns

Apr 06
SBM Offshore (AMS:SBMO) Hasn't Managed To Accelerate Its Returns

SBM Offshore (AMS:SBMO) Has A Somewhat Strained Balance Sheet

Mar 08
SBM Offshore (AMS:SBMO) Has A Somewhat Strained Balance Sheet

Calculating The Intrinsic Value Of SBM Offshore N.V. (AMS:SBMO)

Feb 23
Calculating The Intrinsic Value Of SBM Offshore N.V. (AMS:SBMO)

SBM Offshore (AMS:SBMO) Is Looking To Continue Growing Its Returns On Capital

Dec 25
SBM Offshore (AMS:SBMO) Is Looking To Continue Growing Its Returns On Capital

SBM Offshore N.V.'s (AMS:SBMO) Intrinsic Value Is Potentially 20% Below Its Share Price

Nov 24
SBM Offshore N.V.'s (AMS:SBMO) Intrinsic Value Is Potentially 20% Below Its Share Price

Does SBM Offshore (AMS:SBMO) Have A Healthy Balance Sheet?

Oct 28
Does SBM Offshore (AMS:SBMO) Have A Healthy Balance Sheet?

Shareholder Returns

SBMONL Energy ServicesNL Market
7D0.5%2.4%2.1%
1Y36.1%21.8%3.0%

Return vs Industry: SBMO exceeded the Dutch Energy Services industry which returned 22.8% over the past year.

Return vs Market: SBMO exceeded the Dutch Market which returned 3.7% over the past year.

Price Volatility

Is SBMO's price volatile compared to industry and market?
SBMO volatility
SBMO Average Weekly Movement2.8%
Energy Services Industry Average Movement4.4%
Market Average Movement4.3%
10% most volatile stocks in NL Market6.6%
10% least volatile stocks in NL Market2.3%

Stable Share Price: SBMO has not had significant price volatility in the past 3 months compared to the Dutch market.

Volatility Over Time: SBMO's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
18626,359Oivind Tangenwww.sbmoffshore.com

SBM Offshore N.V. provides floating production solutions to the offshore energy industry worldwide. It operates in two segments, Lease and Operate, and Turnkey. It engages in the design, supply, installation, operation, demobilization, and life extension of floating production storage and offloading (FPSO) vessels.

SBM Offshore N.V. Fundamentals Summary

How do SBM Offshore's earnings and revenue compare to its market cap?
SBMO fundamental statistics
Market cap€3.75b
Earnings (TTM)€303.35m
Revenue (TTM)€4.60b
12.4x
P/E Ratio
0.8x
P/S Ratio

Is SBMO overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
SBMO income statement (TTM)
RevenueUS$5.40b
Cost of RevenueUS$4.01b
Gross ProfitUS$1.40b
Other ExpensesUS$1.04b
EarningsUS$356.00m

Last Reported Earnings

Jun 30, 2025

Next Earnings Date

Feb 26, 2026

Earnings per share (EPS)2.08
Gross Margin25.83%
Net Profit Margin6.59%
Debt/Equity Ratio149.9%

How did SBMO perform over the long term?

See historical performance and comparison

Dividends

3.4%
Current Dividend Yield
43%
Payout Ratio

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/09/12 07:24
End of Day Share Price 2025/09/12 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

SBM Offshore N.V. is covered by 34 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Thijs BerkelderABN AMRO Bank N.V.
Marzio FoaAlphaValue
Lucy HaskinsBarclays