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

CMB.TECH nv

CMBT Energy Oil & Gas Midstream

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%
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%) (below 0%: weak)
This Y EPS Growth 292.86% (at or above 15%: strong)
Next Y EPS Growth (21.62%) (below 0%: weak)
Next Y revenue growth 26.83% (at or above 10%: strong)
Next 5Y EPS Growth 46.26% (at or above 15%: strong)

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

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.8×, against a ten-year median of 3.8×; over the ten years it ranged from 2.2× in 2016 to 6.3× in 2022.
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.

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
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

CMB.TECH nv vs peers in Oil & Gas Midstream (Q) = latest quarter vs a year earlier

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.

CMB.TECH nv (CMBT) Latest News

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stockrow.com/CMBT · Data as of Mar 31, 2026 · For information only; not investment advice. · © 2026 stockrow.com