SFL Corporation Ltd (SFL) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of SFL Corporation Ltd stock $17.54, price $10.96, upside +60.0%, quality 50 out of 100. Rating: strongly undervalued. Calculated from audited financials with 10 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range $4.16 – $13.75 · fair‑value band $8.71 – $29.51 · the $10.96 price screens below the $17.54 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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SFL Corporation Ltd., a maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters.
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The company operates in various sectors of the maritime, and shipping and offshore industries, including oil transportation, dry bulk shipments, oil products transportation, container transportation, car transportation, and drilling rigs.
As of December 31, 2025, the company owned 17 tankers, two dry bulk carriers, 21 container vessels, seven car carriers, and two drilling rigs. It primarily operates in Bermuda, Canada, Cyprus, Liberia, Namibia, Norway, Singapore, the United Kingdom, and the Marshall Islands.
SFL Corporation Ltd. was formerly known as Ship Finance International Limited and changed its name to SFL Corporation Ltd. in September 2019. The company was incorporated in 2003 and is based in Hamilton, Bermuda.
Stock analysis
SFL Corporation Ltd (SFL) currently trades at $10.96, while our model-based Fair Value estimate is $17.54, implying the stock looks roughly 38% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of $15.74 per share, and 5 of the 9 models we run sit above the $10.96 price.
Bear case: the Asset-Based group reads lowest at $4.53, and 4 of the 9 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $8.71 (bear) to $29.51 (bull), the price of $10.96 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 50/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
SFL Corporation Ltd reported revenue of $720M in FY2025 versus $495M in FY2021, a compound +9.8%/yr. Reported net income was −$26.4M in FY2025.
Key figures
Market cap $1.5B Small · P/E ratio 16.4 · P/S ratio 2.00 · EPS (TTM) $0.6700 · Dividend yield 7.8% · Net margin 12.7% · Return on equity 8.9% · Return on assets (EBIT) 6.4% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 20% below its 52-week high and 59% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 13% fair-value upside, at 60%, SFL screens cheaper than that median.
Fair Value models
Bear$8.71Fair Value $17.54Bull$29.51
Price $10.96 · Upside +60.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.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.Coverage ⓘCoverage = 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.
Best data coverage
FCF DCF$15.11$28.67$47.8078
Growth DCF$15.48$27.43$43.2977
Owner Earnings$10.75$22.18$38.3273
All 10 models by family
DCF Models
FCF DCF$15.11$28.67$47.8078
Owner Earnings$10.75$22.18$38.3273
5Y Revenue Exit$0.2000$3.55$7.3265
5Y EBITDA Exit$4.35$11.26$18.9572
10Y Revenue Exit$5.59$9.89$14.8466
10Y EBITDA Exit$8.24$15.01$23.3167
Multiples
EV/EBITDAn/an/a$3.0662
Asset-Based
NCAV (Graham)$3.38$4.53$6.7754
Growth DCF
Growth DCF$15.48$27.43$43.2977
Rev-Margin DCF$0.2000$4.04$7.7166
The fair value above starts from this blend and is adjusted for a cyclical trough year.
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.77/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−19.3%
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.
+3.2%
Revenue growth 5 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.
+12.4%
Start year 2020 (pandemic). Over 10 years: +5.9% a year
Revenue growth 24 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.
+1.6%
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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.
−34.5% (2020) → 19.0% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
Price in line with expectations
The price assumes less growth than the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+7.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+5.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +5.1% a year for the price and +3.3% for the forecasts.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Marine Shipping · 220 stocks
Beats the industry median on 4/14 measures
Overall it trails its industry peers.
Valuation
Quality Score50 · Below median
Fair Value upside+60.0% · Top 25%
Profitability
Return on equity (12 months)8.9% · Below median
Return on assets−0.7% · Bottom 25%
Net margin (12 months)12.7% · Below median
Operating margin (12 months)29.2% · Above median
Growth and dividend
Revenue growth (quarter YoY)9.6% · Below median
Dividend yield (12 months)7.8% · Top 25%
Balance sheet
Debt / equity2.04× · Highest 25%
Valuation Multiplesvs Marine Shipping median · lower = cheaper
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Is SFL Corporation Ltd (SFL) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of $17.54 versus a price of $10.96, about +60% upside (undervalued).
What is the fair value of SFL?
Our model-based fair value for SFL Corporation Ltd is $17.54 (as of Nov 7, 2026), built from audited fundamentals. The current price: $10.96.
What is the quality score of SFL?
SFL Corporation Ltd has a Quality Score of 50/100. 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 SFL Corporation Ltd (SFL)?
Our model-based price target is the fair value of $17.54 (as of Nov 7, 2026) from 10 valuation models. Cautious scenario $8.71, optimistic scenario $29.51. It is a calculation from audited fundamentals, not an analyst target.
What is the SFL Corporation Ltd stock forecast for 2026?
Our models put fair value at $17.54, about +60% upside versus a price of $10.96 (undervalued). Cautious scenario $8.71, optimistic scenario $29.51. The calculation is refreshed regularly with new filings.
What is the revenue of SFL Corporation Ltd (SFL)?
SFL Corporation Ltd reported trailing-twelve-month revenue of about $729M (latest available figure, as of Nov 7, 2026).
Does SFL Corporation Ltd pay a dividend?
SFL Corporation Ltd currently shows a dividend yield of 7.85% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of SFL Corporation Ltd (SFL) and when is the ex-dividend date?
SFL Corporation Ltd pays a dividend of $0.86 per share a year, a dividend yield of 7.8%. The last ex-dividend date was Sep 9, 2026. A dividend has been paid every year since at least 2004. The payout ratio is 128% of earnings. Free cash flow covers the dividend 1.80 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into SFL Corporation Ltd (SFL)?
For today's price to be fair in a discounted-cash-flow model, SFL Corporation Ltd would have to grow free cash flow by +7.6 % per year for five years (discount rate 9.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +12.4 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of SFL use?
Our models discount SFL Corporation Ltd at 9.9 %: a base by market capitalisation (small), damped by beta 0.52, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For SFL Corporation Ltd that is +7.6 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.9 %) and the same formula as our fair value.
How much growth has SFL Corporation Ltd (SFL) delivered so far?
Over the past 5 years revenue at SFL Corporation Ltd grew +12.4 % a year. The price currently implies free-cash-flow growth of +7.6 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of SFL Corporation Ltd (SFL) growing?
The median revenue growth in the sector is +14.1 % a year. That is the yardstick for the growth priced into SFL Corporation Ltd (+7.6 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of SFL Corporation Ltd (SFL)?
The free-cash-flow yield on the price is 15.09 %: that much free cash flow SFL Corporation Ltd produces per unit of market value. When it exceeds the discount rate of our models (9.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of SFL Corporation Ltd (SFL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For SFL Corporation Ltd it is $17.54 per share (as of Nov 7, 2026), against a price of $10.96. It is the blended result of 10 valuation models in 4 families (DCF Models, Multiples, Asset-Based, Growth DCF).
Is SFL Corporation Ltd stock overvalued or undervalued in 2026?
As of Nov 7, 2026, SFL trades below its calculated fair value: price $10.96, fair value $17.54, a gap of about +60% (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 SFL?
No. The price is what the market pays today ($10.96); the fair value is what the company's own numbers justify ($17.54). For SFL Corporation Ltd the two are $6.58 per share apart. That gap is exactly why we show both numbers side by side.
How much is SFL Corporation Ltd worth?
The market values SFL Corporation Ltd at about $1.5B (market capitalisation, as of Nov 7, 2026). Per share that is $10.96; our models calculate a fair value of $17.54 per share.
What do the bullish and bearish scenarios say about SFL?
Our models span a range for SFL Corporation Ltd: cautious scenario $8.71, base $17.54, optimistic $29.51 per share (as of Nov 7, 2026, price $10.96). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SFL?
SFL Corporation Ltd trades at a price-to-earnings ratio of 16.4 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $17.54 is built from several models across several years. Median P/E at fiscal year-end, 8 fiscal years (2016 to 2024), reported earnings: 12.4. Other multiples: P/B 1.5, P/S 2.0, EV/EBITDA 7.6.
How solid is the balance sheet of SFL Corporation Ltd (SFL)?
Balance-sheet figures for SFL Corporation Ltd (as of Nov 7, 2026): return on equity 8.9%, debt of 2.04 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is SFL from its 52-week high?
SFL Corporation Ltd trades at $10.96, about 20% below its 52-week high of $13.75 and 59% above the low of $6.89 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $17.54 is for.
Which stocks are comparable to SFL Corporation Ltd?
From the same area (Industrials) we also value Adani Ports and Special Economic Zone Limited, COSCO SHIPPING Holdings, Hapag-Lloyd Aktiengesellschaft,, Shanghai International Port (Group) Co, 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 SFL Corporation Ltd stock attractive at the current price?
The data as of Nov 7, 2026: price $10.96, calculated fair value $17.54 (+60%), Quality Score 50/100, from 10 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 SFL calculated?
We run SFL Corporation Ltd through 10 models from 4 families: DCF Models, Multiples, Asset-Based, Growth DCF. Every model gets the same audited fundamentals; the fair value of $17.54 builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. SFL Corporation Ltd currently trades 38% 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 SFL Corporation Ltd (SFL)?
The closing price on Nov 6, 2026 was $10.96. Our model-based fair value is $17.54, about +60% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with SFL Corporation Ltd right now?
The model range is unusually wide ($8.71 to $29.51). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of SFL Corporation Ltd (SFL) come from?
Earnings per share at SFL Corporation Ltd grew −7.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +5.3 %, EBIT margin −2.5 %, tax rate +2.6 %, residual (interest, one-offs) −12.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of SFL Corporation Ltd
How large is the market capitalisation of SFL Corporation Ltd (SFL)?
The market capitalisation of SFL Corporation Ltd is $1.5B. 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 SFL Corporation Ltd (SFL)?
The price-to-sales ratio of SFL Corporation Ltd is 2.00 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of SFL Corporation Ltd (SFL)?
Earnings per share at SFL Corporation Ltd are $0.6700 (price ÷ EPS = P/E 16.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of SFL Corporation Ltd (SFL)?
The dividend yield of SFL Corporation Ltd is 7.8% (payout 128%). 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 SFL Corporation Ltd (SFL)?
The net margin of SFL Corporation Ltd is 12.7% (last twelve months). 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 SFL Corporation Ltd (SFL)?
The return on equity (ROE) of SFL Corporation Ltd is 8.9% (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 SFL Corporation Ltd (SFL)?
On an EBIT basis the return on assets of SFL Corporation Ltd is 6.4% (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 SFL Corporation Ltd (SFL)?
The operating margin of SFL Corporation Ltd is 29.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at SFL Corporation Ltd (SFL)?
Revenue at SFL Corporation Ltd is growing +9.6% versus a year earlier (3y avg +3.2%). 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 SFL Corporation Ltd (SFL)?
Earnings per share at SFL Corporation Ltd are growing +306% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does SFL Corporation Ltd (SFL) carry?
The net debt of SFL Corporation Ltd is $2.4B (fiscal year 2025, ≈ 11.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 7, 2026