Cmb.Tech NV (CMBT) Fair Value & Analysis
Energy · US · Market cap $4.5B
Cmb.Tech NV
CMBT · US
Fair value as of: Jul 14, 2026
From 13 valuation models · updated 26 days ago
Share price +5.1% over the past month.
Below-average quality, and screening another 60% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case ($8.24). The favourable scenario is already priced in.
- Weak quality (29/100) and above fair value at the same time, the margin of safety is missing on both counts.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.
How to read this chart
60‑month range $4.43 – $16.66 · fair‑value band $4.94 – $8.24 · the $16.29 price screens above the $6.59 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 14, 2026.
Analysis
Cmb.Tech NV (CMBT) currently trades at $16.29, while our model-based Fair Value estimate is $6.59, implying the stock looks roughly 59.6% overvalued today. The Quality Score stands at 29/100 (below-average quality), in the Energy sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Cmb.Tech NV generated revenue of $2.0B at a net margin of 24.9%. Revenue grew 121.1% year over year. It earns a return on equity of 16.8%. Net debt stands at $5.4B. Fundamentals as of Jul 14, 2026
Our scenario range runs from $4.94 (bear case) to $8.24 (bull case); at $16.29, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 4% below its 52-week high and 125% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at -35% fair-value upside, at -60%, CMBT screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 13 models by family
Widest divergence: Growth Earnings ($9.96) versus Dividend Discount ($1.09). Highest evidence: Residual Income (76).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 27 · Market factors (momentum, volatility) 84
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Cmb.Tech NV engages in marine transportation business in Belgium. It operates through three divisions: Marine, H2 Infra, and H2 Industry.
Full company description
Cmb.Tech NV engages in marine transportation business in Belgium. It operates through three divisions: Marine, H2 Infra, and H2 Industry. The Marine division designs, builds, owns, and operates various low and zero carbon ships and vessels, such as crew transfer vessels, ferries, commissioning service operations vessels, tugboats, ammonia-powered large bulk carriers, container ships, and chemical and crude oil tankers. The H2 Infra division develops and secures green molecule supplies; and produces and distributes green hydrogen and ammonia. The H2 Industry division provides scalable dual-fuel industrial applications. The company was formerly known as Euronav NV and changed its name to Cmb.Tech NV in October 2024. Cmb.Tech NV was founded in 1989 and is headquartered in Antwerp, Belgium. Cmb.Tech NV is a subsidiary of CMB NV.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Cmb.Tech NV reported revenue of $1.7B in FY2025 versus $420M in FY2021, a compound +41.1%/yr. Reported net income was $161M in FY2025.
CMBT screens 60% overvalued. Compare with Enbridge Inc →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- CMB.TECH fleet update
- FORTESCUE AND CMB.TECH SIGN MILESTONE AGREEMENT FOR 12 AMMONIA BULKERS TO ACCELERATE ZERO-EMISSIONS SHIPPING
Peer Group
Oil & Gas Midstream · 87 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Oil & Gas Midstream median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Oil & Gas Midstream stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Enbridge Inc ENB | $56.46 | $47.20 | -16% |
| The Williams Companies, Inc WMB | $73.38 | $12.03 | -84% |
| Enterprise Products Partners L.P. EPD | $38.31 | $24.74 | -35% |
| TC Energy Corporation TRP | C$97.79 | C$42.00 | -57% |
| Kinder Morgan, Inc KMI | $32.54 | $11.12 | -66% |
| Energy Transfer LP, ET | $19.91 | $17.69 | -11% |
| ONEOK, Inc OKE | $93.52 | $64.05 | -32% |
| Targa Resources Corp TRGP | $273.35 | $79.61 | -71% |
| MPLX LP owns and MPLX | $57.17 | $37.05 | -35% |
| Cheniere Energy, Inc LNG | $255.83 | $211.18 | -17% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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