SBM Offshore N.V (SBMO) Fair Value & Analysis
Energy · NL · Market cap €5.3B
Fair value as of: Jul 17, 2026
From 26 valuation models · updated 24 days ago
Fair value updated Jul 17, 2026, revised from €51.06 to €26.01 (−49.1%) since Jun 24, 2026. Share price −1.2% over the past month.
A solid business, but screening 20% overvalued on our models.
What matters now
- The model range is unusually wide (€17.37 to €45.98). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.
How to read this chart
60‑month range €9.17 – €36.68 · fair‑value band €17.37 – €45.98 · the €32.40 price screens above the €26.01 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.
Analysis
SBM Offshore N.V (SBMO) currently trades at €32.40, while our model-based Fair Value estimate is €26.01, implying the stock looks roughly 19.7% overvalued today. The Quality Score stands at 67/100 (solid 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: medium).
Over the trailing twelve months, SBM Offshore N.V generated revenue of €5.9B at a net margin of 15.6%. Revenue grew 19.5% year over year. It earns a return on equity of 18.0%. Net debt stands at €8.2B. Fundamentals as of Jul 17, 2026
Our scenario range runs from €17.37 (bear case) to €45.98 (bull case); at €32.40, the current price sits within 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 12% below its 52-week high and 63% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at -36% fair-value upside, at -20%, SBMO screens cheaper 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 26 models by family
Widest divergence: Growth Earnings (€71.57) versus Dividend Discount (€15.59). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 60 · Market factors (momentum, volatility) 71
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
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.
Full company description
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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
SBM Offshore N.V reported revenue of €6.1B in FY2025 versus €3.7B in FY2021, a compound +13.2%/yr. Reported net income was €960M in FY2025, compounding +24.5%/yr from FY2021.
SBMO screens 20% overvalued. Compare with SLB N.V →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- SBM Offshore completes US$465 million financing of FSO Chalchi
- Petróleo Brasileiro S.A. – Petrobras (PBR) Inks Deal with SBM Offshore for Oil and Gas Production Vessels
- SBM Offshore intends to divest minority interest in FSO Chalchi
- Assessing SBM Offshore (ENXTAM:SBMO) Valuation After Recent Share Price Pullback
Peer Group
Oil & Gas Equipment & Services · 191 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 Equipment & Services 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.
Insider activity: 40/100
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 Equipment & Services stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| SLB N.V SLBN | 836.00 MXN | 533.97 MXN | -36% |
| Baker Hughes Company BKR | $55.95 | $33.55 | -40% |
| TechnipFMC plc FTI | $74.57 | $27.57 | -63% |
| Halliburton Company HAL | $35.22 | $21.50 | -39% |
| Tenaris S.A TS | $57.16 | $45.68 | -20% |
| Yantai Jereh Oilfield Services Group 002353 | ¥138.79 | ¥34.17 | -75% |
| Saipem SpA SPM | €4.20 | €2.72 | -35% |
| Subsea 7 S.A SUBC | kr 319.00 | kr 227.98 | -29% |
| China Oilfield Services Limited 601808 | ¥12.08 | ¥12.64 | +5% |
| Gaztransport & Technigaz SA GTT | €188.10 | €95.01 | -49% |
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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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