Saturday 17 October 2026 Export CMBT’s income statement to Excel — free account

CMB.TECH nv

CMB.TECH nv’s revenue for fiscal 2025 (year ended December 2025) was $1.9 billion, up 16.1% from fiscal 2024. In the quarter to June 2026, revenue grew 519.2%, EPS grew 677.3%, free cash flow grew 451.2% and total debt fell 4.98%, each against the same quarter a year earlier.

17.25 0.67 −3.74%

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Market cap: $5.2B
P/E: 3.6×
Fwd P/E: 5.4×
Dividend yield: 0.00%
F-score: 3/9
Altman Z: 0.77
Beneish M: −2.22
Dividend safety: 25/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 70.58%

Capital & Financial Ratios $m

Market Cap 5,200.00

Revenue 2,118.19

Net Income 775.71

Free Cash Flow (85.18)

Net Debt 5,087.61

Current Ratio 1.12

Debt/Equity 1.68

P/E ratio 3.57

Fwd P/E 5.38

P/S ratio 2.36

P/B ratio 1.60

Past 5Y EPS Growth (22.98%)

This Y EPS Growth 292.86%

Next Y EPS Growth (21.62%)

Next Y revenue growth 26.83%

Next 5Y EPS Growth 46.26%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 18.39%

10-year low 10-year high

P/S against its own 10 years 63.29%

10-year low 10-year high

P/B against its own 10 years 82.42%

10-year low 10-year high

EV/Sales against its own 10 years 73.79%

10-year low 10-year high

Dividends

Payout Ratio 0.00

Annual Dividend Rate 0.00

Annual Dividend Yield 0.00%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	1.39	0.05 0.16 0.20
2025	0.11	0.05
2024	4.54	3.49 0.24 0.81
2023	2.79	0.03 1.10 0.70 0.56 0.40
2022	0.12	0.06 0.03 0.03
2021	0.09	0.03 0.03 0.03
2020	1.30	0.20 0.57 0.47 0.06
2019	0.04	0.04
2018	0.08	0.04 0.04
2017	0.20	0.15 0.04
2016	1.18	0.60 0.57

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	429	39	147	160
Receivables	307	236	321	416
Inventory	23	27	77	121
Other	873	170	368	223
	1,632	471	913	919

	2023	2024	2025	Q'26
Payables	124	80	222	235
ST’ Debt	258	298	625	376
Other	0	0	—	0
	425	393	1,061	819

Compound Annual Growth %

	10y	5y	3y
Sales	8.09%	8.72%	25.04%
Cash Flow	(0.16%)	(14.48%)	20.18%
Earnings	(7.50%)	(19.43%)	(7.53%)
Book Value	3.25%	2.56%	6.47%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	807	—	—	—	—
’25	289	—	—	—	1,888
’24	656	—	—	—	1,626
’23	367	—	—	—	1,631
’22	130	—	—	—	966
’21	112	—	—	—	445
’20	428	—	—	—	1,243

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	167	250	—	—	—
’25	33	42	216	—	444
’24	226	41	349	—	458
’23	203	226	578	—	837
’22	(44)	106	87	—	256
’21	51	(55)	18	—	(25)
’20	302	240	849	—	970

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	167	225	—	—	—
’25	(64)	(147)	(234)	—	(77)
’24	1,365	(32)	1,258	—	1,057
’23	112	148	405	—	1,705
’22	(93)	(92)	(181)	—	72
’21	(141)	(77)	(283)	—	(383)
’20	222	273	791	—	822

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	1.27	—	—	—	—
’25	0.23	—	—	—	0.61
’24	2.46	—	—	—	4.44
’23	0.87	—	—	—	4.27
’22	(0.21)	—	—	—	1.00
’21	(0.35)	—	—	—	(1.68)
’20	1.05	—	—	—	2.25

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	6.65	6.90	6.77	6.94	7.21	7.55	7.91	12.94	8.59	7.65	Analyst estimates 2026–2028 Powerpack
	High	13.71	9.28	10.10	12.61	13.21	11.20	21.00	19.18	21.26	12.00
People
People	Employees	3,051	2,952	2,900	2,910	3,720	3,147	2,946	3,216	2,752	326
	Revenue/emp, $m	0.24	0.19	0.22	0.33	0.33	0.14	0.33	0.51	0.59	5.79
Income, $m
Income, $m	Revenue	742	555	624	957	1,243	445	966	1,631	1,626	1,888
	Gross margin, %	67.98	56.09	42.57	62.70	71.70	21.53	58.90	76.85	76.76	57.85
	EBT	204	0	(110)	113	475	(339)	206	864	873	149
	EBT margin, %	27.49	0.00	(17.60)	11.79	38.22	(76.21)	21.33	52.98	53.68	7.91
	Net income	204	1	(110)	112	473	(339)	203	858	871	139
	Depreciation	228	230	271	338	320	345	223	221	166	388
Per share, $
Per share, $	Revenue	4.69	3.51	3.25	4.43	5.91	2.21	4.79	8.08	8.29	8.23
	Earnings	1.29	0.01	(0.57)	0.55	2.25	(1.68)	1.01	4.27	4.44	0.61
	Cash flow	2.77	1.34	0.00	1.26	4.61	(0.13)	1.27	4.15	2.34	1.93
	Capex	(0.76)	(0.51)	(1.10)	0.36	(0.70)	(1.77)	(0.91)	4.30	3.06	(2.27)
	Free cash flow	2.01	0.82	(1.10)	1.62	3.91	(1.90)	0.36	8.45	5.39	(0.34)
	Book value	11.93	11.67	11.77	10.70	11.00	9.72	10.77	11.68	6.08	11.43
	Shares, m	158	158	192	216	210	202	202	202	196	229
Valuation, ×
Valuation, ×	P/E	3.49	4.56	5.13	16.08	7.21	16.46	28.32	13.02	3.60	2.89
	P/S	1.53	1.80	1.52	3.74	1.75	2.05	3.60	3.42	1.58	1.30
	P/B	0.66	0.77	0.48	1.18	0.70	0.91	1.50	1.51	1.68	0.71
	EV/Sales	2.48	2.90	3.73	5.68	2.90	3.73	5.17	3.87	3.62	4.91
	EV/FCF	10.72	6.73	16.95	22.91	1.90	11.24	(7.22)	8.28	1.53	8.68
Cash, $m
Cash, $m	Operating cash flow	438	211	1	272	970	(25)	256	837	458	444
	Capex	(120)	(81)	(211)	78	(147)	(357)	(184)	868	599	(521)
	Free cash flow	319	130	(210)	350	822	(383)	72	1,705	1,057	(77)
Balance, $m
Balance, $m	Working capital	184	122	234	486	248	138	353	1,207	78	(148)
	Total debt	1,086	899	1,769	1,712	1,228	1,623	1,673	893	2,616	5,345
	Net debt	879	755	1,595	1,415	1,066	1,470	1,493	464	2,577	5,198
	Shareholders’ equity	1,888	1,846	2,261	2,312	2,312	1,961	2,173	2,357	1,192	2,623
Returns, %
Returns, %	ROA	6.70	0.05	(3.17)	2.71	12.05	(9.09)	5.25	23.23	23.78	2.61
	ROIC	4.70	0.32	(1.21)	3.28	9.89	(5.13)	5.02	21.48	16.62	4.45
	ROE	10.76	0.07	(5.36)	4.91	20.47	(15.86)	9.83	37.87	49.06	8.42

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Mar 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
SOBO South Bow Corporation	$7.0B	15.7×	21.2×	+4.20% (above 0%: growing)	+39.13% (above 0%: growing)	+48.75% (above 0%: growing)	55.68%	48.90%	Compare
HESM Hess Midstream Partners LP	$6.3B	10.6×	14.7×	−3.67% (below 0%: shrinking)	+1.35% (above 0%: growing)	+19.67% (above 0%: growing)	100.00%	63.46%	Compare
INSW International Seaways Inc.	$5.6B	7.0×	5.0×	+138.85% (above 0%: growing)	+376.80% (above 0%: growing)	+125.42% (above 0%: growing)	76.05%	64.49%	Compare
CMBT CMB.TECH nv	$5.2B	3.6×	5.4×	+519.15% (above 0%: growing)	n/m	+451.20% (above 0%: growing)	71.02%	54.45%
GLNG Golar LNG Limited	$4.6B	28.6×	46.3×	+100.86% (above 0%: growing)	−30.19% (below 0%: shrinking)	+33.24% (above 0%: growing)	67.68%	49.39%	Compare
STNG Scorpio Tankers Inc.	$4.2B	4.6×	5.7×	+77.54% (above 0%: growing)	+432.70% (above 0%: growing)	+490.32% (above 0%: growing)	80.00%	97.45%	Compare
TRMD TORM PLC	$4.0B	6.2×	—	+110.28% (above 0%: growing)	+451.67% (above 0%: growing)	+48.55% (above 0%: growing)	89.05%	53.58%	Compare
DHT DHT Holdings, Inc.	$3.8B	8.0×	4.7×	+122.12% (above 0%: growing)	+251.43% (above 0%: growing)	+122.28% (above 0%: growing)	83.01%	71.31%	Compare
SUNC SunocoCorp LLC	$3.7B	—	—	—	—	+1,501.72% (above 0%: growing)	10.27%	4.09%	Compare
Median of peers	$4.4B	8.0×	10.2×	+100.86%	+251.43%	+85.52%	78.03%	58.52%

All 58 Oil & Gas Midstream stocks →

CMB.TECH nv (CMBT) key facts

Strength: CMB.TECH nv’s revenue for fiscal 2025 (year ended December 2025) was $1.9 billion, up 16.1% from fiscal 2024.
CMB.TECH nv (CMBT) is an Oil & Gas Midstream company in the Energy sector, listed on the New York Stock Exchange.
As of October 16, 2026, CMBT traded at $17.25, a market capitalization of $5.2 billion.
Return on equity was 8.42% and debt-to-equity 1.68.
Its Piotroski F-score is 3 out of 9 and its Altman Z-score is 0.77 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.