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Side-by-side financial comparison of CMB.TECH NV (CMBT) and SFL Corp Ltd. (SFL). Click either name above to swap in a different company.
CMB.TECH NV is the larger business by last-quarter revenue ($592.8M vs $353.7M, roughly 1.7× SFL Corp Ltd.). CMB.TECH NV runs the higher net margin — 32.3% vs 1.1%, a 31.1% gap on every dollar of revenue. On growth, SFL Corp Ltd. posted the faster year-over-year revenue change (-27.0% vs -34.6%).
CMB.TECH, before October 2024 known as Euronav, is a crude oil tanker transport company, which consists of VLCCs, Suezmaxes and FSOs.
SFL Corp Ltd is a global maritime transportation and vessel owning enterprise with a diversified fleet including container ships, oil tankers, dry bulk carriers and offshore support vessels. It serves international logistics, energy and bulk commodity sectors, offering long-term and spot charter services to clients across major global trade routes.
CMBT vs SFL — Head-to-Head
Income Statement — Q4 FY2024 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $592.8M | $353.7M |
| Net Profit | $191.2M | $4.0M |
| Gross Margin | — | — |
| Operating Margin | 46.4% | 22.8% |
| Net Margin | 32.3% | 1.1% |
| Revenue YoY | -34.6% | -27.0% |
| Net Profit YoY | -63.3% | -93.9% |
| EPS (diluted) | $1.01 | $0.03 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $353.7M | ||
| Q4 24 | $592.8M | $484.4M | ||
| Q4 23 | $905.9M | $414.5M | ||
| Q4 22 | — | $364.7M |
| Q4 25 | — | $4.0M | ||
| Q4 24 | $191.2M | $64.7M | ||
| Q4 23 | $521.2M | $60.7M | ||
| Q4 22 | — | $98.3M |
| Q4 25 | — | 22.8% | ||
| Q4 24 | 46.4% | 32.8% | ||
| Q4 23 | 63.4% | 33.4% | ||
| Q4 22 | — | 38.3% |
| Q4 25 | — | 1.1% | ||
| Q4 24 | 32.3% | 13.4% | ||
| Q4 23 | 57.5% | 14.6% | ||
| Q4 22 | — | 27.0% |
| Q4 25 | — | $0.03 | ||
| Q4 24 | $1.01 | $0.49 | ||
| Q4 23 | $2.58 | $0.48 | ||
| Q4 22 | — | $0.74 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $38.9M | $150.8M |
| Total DebtLower is stronger | $2.6B | $2.6B |
| Stockholders' EquityBook value | $1.2B | $960.9M |
| Total Assets | $3.9B | $3.6B |
| Debt / EquityLower = less leverage | 2.20× | 2.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $150.8M | ||
| Q4 24 | $38.9M | $134.6M | ||
| Q4 23 | $429.4M | $165.5M | ||
| Q4 22 | — | $188.4M |
| Q4 25 | — | $2.6B | ||
| Q4 24 | $2.6B | $2.9B | ||
| Q4 23 | $930.7M | $2.2B | ||
| Q4 22 | — | $2.2B |
| Q4 25 | — | $960.9M | ||
| Q4 24 | $1.2B | $1.1B | ||
| Q4 23 | $2.4B | $1.0B | ||
| Q4 22 | — | $1.1B |
| Q4 25 | — | $3.6B | ||
| Q4 24 | $3.9B | $4.1B | ||
| Q4 23 | $3.4B | $3.7B | ||
| Q4 22 | — | $3.9B |
| Q4 25 | — | 2.69× | ||
| Q4 24 | 2.20× | 2.54× | ||
| Q4 23 | 0.39× | 2.08× | ||
| Q4 22 | — | 2.03× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $204.4M | $118.4M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 1.07× | 29.75× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $118.4M | ||
| Q4 24 | $204.4M | $182.4M | ||
| Q4 23 | $435.8M | $112.1M | ||
| Q4 22 | — | $188.4M |
| Q4 25 | — | — | ||
| Q4 24 | — | — | ||
| Q4 23 | $65.6M | — | ||
| Q4 22 | — | — |
| Q4 25 | — | — | ||
| Q4 24 | — | — | ||
| Q4 23 | 7.2% | — | ||
| Q4 22 | — | — |
| Q4 25 | — | — | ||
| Q4 24 | — | — | ||
| Q4 23 | 40.9% | — | ||
| Q4 22 | — | — |
| Q4 25 | — | 29.75× | ||
| Q4 24 | 1.07× | 2.82× | ||
| Q4 23 | 0.84× | 1.85× | ||
| Q4 22 | — | 1.92× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
