SBM Offshore N.V (0NIS) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of SBM Offshore N.V €48.02, price €34.63, upside +38.7%, quality 46 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range €9.21 – €36.84 · fair‑value band €33.62 – €62.43 · the €34.63 price screens below the €48.02 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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.
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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. The company also operates catenary anchor leg mooring (CALM), a single point mooring (SPM) system terminal; tension leg floaters, turret mooring systems, floating offshore wind, and brownfield and offshore loading terminals; and floating energy hubs. In addition, it owns and operates a fleet of 15 FPSOs and 1 semi-submersible unit, as well as offering offshore technologies development and digital services in the offshore oil and gas industry and broader offshore infrastructure sector. Further, the company offers turnkey supply contracts and after-sales services, which consist mainly of large production systems, large mooring systems, deepwater export systems, fluid transfer systems, tanker loading and discharge terminals, design services, supply of special components and proprietary designs and equipment activities. The company was formerly known as IHC Caland and changed its name to SBM Offshore N.V. in 2005. SBM Offshore N.V. was founded in 1862 and is headquartered in Schiphol, the Netherlands.
Stock analysis
SBM Offshore N.V (0NIS) currently trades at €34.63, while our model-based Fair Value estimate is €48.02, implying the stock looks roughly 27.9% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of €50.38 per share, and 9 of the 16 models we run sit above the €34.63 price.
Bear case: the Economic Profit group reads lowest at €17.99, and 7 of the 16 models stay below the price. Evidence for this calculation is low.
Scenario range: €33.62 (bear) to €62.43 (bull), the price of €34.63 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 46/100 (below-average quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
SBM Offshore N.V reported revenue of €3.5B in FY2020 versus €2.3B in FY2016, a compound +11.4%/yr. Reported net income was €191M in FY2020, compounding +1.2%/yr from FY2016.
Key figures
Market cap €2.6B · P/S ratio 0.44 · Dividend yield 3.4% · Net margin 5.5% · Return on equity 18.0% · Return on assets (EBIT) 5.4% · Operating margin 34.1% · Revenue (TTM) €5.9B.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (medium confidence).
What moves the price
The share trades about 6% below its 52-week high and 67% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −44% fair-value upside, at 39%, 0NIS screens cheaper than that median.
Fair Value models
Bear €33.62Fair Value €48.02Bull €62.43
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.60/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+3.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+23.4%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
24.8% (2016) → 17.3% (2020)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Machinery” was too small, so the broader sector is used.)Industrials · 5328 stocks
Beats the sector median on 10/12 measures
Overall it ranks above its sector peers.
Valuation
Quality Score46 · Below median
Fair Value upside+43.5% · Top 25%
Profitability
Return on equity (TTM)18.0% · Top 25%
Return on assets6.3% · Top 25%
Net margin (TTM)15.6% · Top 25%
Operating margin (TTM)34.1% · Top 25%
Growth and dividend
Revenue growth19.5% · Above median
Dividend yield (TTM)3.4% · Above median
Balance sheet
Debt / equity1.70× · Highest 25%
Valuation Multiplesvs Industrials median · lower = cheaper
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Is SBM Offshore N.V (0NIS) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of €48.02 versus a price of €34.63, about +39% upside (undervalued).
What is the fair value of 0NIS?
Our model-based fair value for SBM Offshore N.V is €48.02 (as of Sep 24, 2026), built from audited fundamentals. The current price: €34.63.
What is the quality score of 0NIS?
SBM Offshore N.V has a Quality Score of 46/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for SBM Offshore N.V (0NIS)?
Our model-based price target is the fair value of €48.02 (as of Sep 24, 2026) from 16 valuation models. Cautious scenario €33.62, optimistic scenario €62.43. It is a calculation from audited fundamentals, not an analyst target.
What is the SBM Offshore N.V stock forecast for 2026?
Our models put fair value at €48.02, about +39% upside versus a price of €34.63 (undervalued). Cautious scenario €33.62, optimistic scenario €62.43. The calculation is refreshed regularly with new filings.
What is the revenue of SBM Offshore N.V (0NIS)?
SBM Offshore N.V reported trailing-twelve-month revenue of about €5.9B (latest available figure, as of Sep 24, 2026).
Does SBM Offshore N.V pay a dividend?
SBM Offshore N.V currently shows a dividend yield of about 3.38% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of SBM Offshore N.V (0NIS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For SBM Offshore N.V it is €48.02 per share (as of Sep 24, 2026), against a price of €34.63. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is SBM Offshore N.V stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0NIS trades below its calculated fair value: price €34.63, fair value €48.02, a gap of about +39% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0NIS?
No. The price is what the market pays today (€34.63); the fair value is what the company's own numbers justify (€48.02). For SBM Offshore N.V the two are €13.39 per share apart. That gap is exactly why we show both numbers side by side.
How much is SBM Offshore N.V worth?
The market values SBM Offshore N.V at about €2.6B (market capitalisation, as of Sep 24, 2026). Per share that is €34.63; our models calculate a fair value of €48.02 per share.
What do the bullish and bearish scenarios say about 0NIS?
Our models span a range for SBM Offshore N.V: cautious scenario €33.62, base €48.02, optimistic €62.43 per share (as of Sep 24, 2026, price €34.63). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of SBM Offshore N.V (0NIS)?
Balance-sheet figures for SBM Offshore N.V (as of Sep 24, 2026): return on equity 18.0%, debt of 1.70 per unit of equity. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is 0NIS from its 52-week high?
SBM Offshore N.V trades at €34.63, about 6% below its 52-week high of €36.84 and 67% above the low of €20.74 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €48.02 is for.
Which stocks are comparable to SBM Offshore N.V?
From the same area (Industrials) we also value CHEMTECH, INLCM, Contemporary Amperex Technology Co, Delta Electronics (Thailand) Public Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is SBM Offshore N.V stock attractive at the current price?
The data as of Sep 24, 2026: price €34.63, calculated fair value €48.02 (+39%), Quality Score 46/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0NIS calculated?
We run SBM Offshore N.V through 16 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €48.02, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. SBM Offshore N.V currently trades 28 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of SBM Offshore N.V (0NIS)?
The closing price on Oct 2, 2026 was €34.63. Our model-based fair value is €48.02, about +39% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with SBM Offshore N.V right now?
The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (46/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (€33.62 to €62.43) leaves room in how you read the outcome.
Key figures of SBM Offshore N.V
How large is the market capitalisation of SBM Offshore N.V (0NIS)?
The market capitalisation of SBM Offshore N.V is €2.6B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of SBM Offshore N.V (0NIS)?
The price-to-sales ratio of SBM Offshore N.V is 0.44 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of SBM Offshore N.V (0NIS)?
The dividend yield of SBM Offshore N.V is 3.4%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of SBM Offshore N.V (0NIS)?
The net margin of SBM Offshore N.V is 5.5% (fiscal year 2020). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of SBM Offshore N.V (0NIS)?
The return on equity (ROE) of SBM Offshore N.V is 18.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of SBM Offshore N.V (0NIS)?
On an EBIT basis the return on assets of SBM Offshore N.V is 5.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of SBM Offshore N.V (0NIS)?
The operating margin of SBM Offshore N.V is 34.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at SBM Offshore N.V (0NIS)?
Revenue at SBM Offshore N.V is growing +19.5% versus a year earlier (3y avg +23.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at SBM Offshore N.V (0NIS)?
Earnings per share at SBM Offshore N.V are growing +17.2% versus a year earlier. How much earnings per share grew versus a year earlier.
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