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SFL Corporation Ltd.

SFL

Industrials Marine Shipping

SFL Corporation Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $733.0 million, down 18.9% from fiscal 2024.

Revenue
+13.1%
EPS
+277.1%
Free cash flow
−18.3%
Total debt
−15.5%

Quarter to September 2026, against a year earlier

10.96 0.02 −0.18%
Market cap
$1.7B
P/E
16.3×
Fwd P/E
16.9×
Dividend yield
7.66%
F-score
3/9
ROIC
3.96%
Net debt / EBITDA
6.4×
Dividend safety
25/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Net bought
—
Trades
0 sells · 0 buys
Ownership
20.3%

Capital & Financial Ratios $m

Size
Market Cap 1,650
Revenue ttm 752
Net income ttm 64
Free cash flow ttm 456
Net debt Q 2,216
Valuation
P/E 16.3
Forward P/E 16.9
Price / sales 2.1
Forward P/S Powerpack
Price / FCF 3.4
Price / book 1.5
Financial health
Current ratio Q 0.3 (below 1: weak)
Debt / equity Q 2.1 (above 2: weak)
Interest coverage Q 1.6
Growth
Revenue growth Q +13.1% (above 0%: growing)
Operating income growth Q +15.0% (above 0%: growing)
EPS, this year +782.3% (at or above 15%: strong)
EPS, next year A −18.8% (below 0%: weak)
Revenue, next year A +2.0%
EPS, past 5 yrs —
EPS, next 5 yrs A +111.7% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates; n/m is not meaningful, as a P/E on a loss. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 5.0×, against a ten-year median of 6.2×; over the ten years it ranged from 4.3× in 2025 to 8.6× in 2019.
P/E against its own 10 years 73.38%
10-year low 10-year high
P/S against its own 10 years 41.39%
10-year low 10-year high
P/B against its own 10 years 91.13%
10-year low 10-year high
EV/Sales against its own 10 years 22.51%
10-year low 10-year high
EV/FCF against its own 10 years 24.17%
10-year low 10-year high

Dividends

Yield
7.66%
Annual rate
0.84
Payout ratio
124.6%
Growth, 2017–25
−9.29%/yr
  1. 2.05 ’17
  2. 1.40 ’18 −32
  3. 1.40 ’19 +0
  4. 1.00 ’20 −29
  5. 0.63 ’21 −37
  6. 0.88 ’22 +40
  7. 0.97 ’23 +10
  8. 1.07 ’24 +10
  9. 0.94 ’25 −12
  10. 0.88 ’26e −6
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 175 138 155 118
Receivables 45 42 19 3
Inventory 12 17 14 —
Other 50 101 53 126
298 316 259 247
2023 2024 2025 Q'26
Payables 33 36 9 2
ST’ Debt 433 689 606 613
Other 45 52 44 91
969 828 710 706

Compound Annual Growth %

10y 5y 3y
Sales 6.07% 9.25% 3.02%
Cash Flow 0.33% (0.68%) (9.05%)
Earnings 0.00% 0.00% 0.00%
Book Value (2.53%) 3.85% (4.15%)

Earnings Trends EPS, adjusted, against the consensus

Dec 2022 Estimate 0.28 Actual 0.27

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Mar 2022 0.23 0.34 Beat by 0.11
Jun 2022 0.18 0.30 Beat by 0.12
Sep 2022 0.23 0.28 Beat by 0.05
Dec 2022 0.28 0.27 Miss by 0.01

EPS $

Mar Jun Sep Dec Year
’26 0.20 0.25 0.26 — —
’25 (0.24) 0.01 0.07 (0.04) (0.20)
’24 0.36 0.16 0.34 0.15 1.01
’23 0.05 0.13 0.23 0.25 0.67
’22 0.37 0.45 0.39 0.38 1.60
’21 0.27 0.15 0.26 0.63 1.30
’20 (0.81) 0.11 0.15 (1.49) (2.06)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 174 201 202 — —
’25 187 193 178 176 733
’24 229 191 255 229 904
’23 173 165 205 210 752
’22 152 153 167 198 670
’21 109 117 135 152 513
’20 122 118 116 115 471
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 34 88 — — —
’25 79 70 67 52 267
’24 63 124 81 102 370
’23 81 150 31 81 343
’22 82 85 80 109 355
’21 63 62 77 91 294
’20 73 122 72 82 276
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 75 72 — — —
’25 59 88 212 97 455
’24 (15) 2 (225) (14) (252)
’23 101 99 18 17 235
’22 (105) 160 (99) (120) (164)
’21 55 46 (248) 43 (104)
’20 84 117 181 82 432
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 413 381 419 459 471 513 670 752 904 733 752 +6.6% 748 762 850 +5.1%
Gross margin, % 67.06 65.40 69.30 70.70 66.96 69.47 69.40 60.95 62.04 58.83 60.42 (8.2) pt
EBT 146 101 74 89 (224) 164 203 87 141 (25) 95 n/m
EBT margin, % 35.45 26.57 17.58 19.43 (47.64) 32.01 30.25 11.60 15.62 (3.35) 12.62 (38.8) pt
Net income 146 101 74 89 (224) 164 203 84 131 (26) 64 n/m
Per share, $
Per share, $ Revenue 4.42 3.98 3.95 4.26 4.32 4.20 5.29 5.96 6.99 5.51 5.32 +2.5%
Earnings 1.57 1.06 0.70 0.83 (2.06) 1.35 1.60 0.67 1.01 (0.20) 0.67 n/m
Cash flow 2.46 1.86 1.90 2.32 2.54 2.40 2.80 2.72 2.86 2.01 0.00 (2.2%)
Capex (1.70) (0.07) (9.37) (0.37) 1.43 (3.26) (4.09) (0.86) (4.81) 1.41 0.00 n/m
Free cash flow 0.76 1.79 (7.47) 1.96 3.97 (0.85) (1.29) 1.86 (1.95) 3.42 0.00 +18.2%
Book value 12.13 12.50 11.14 10.28 7.30 8.04 8.61 8.23 8.72 7.22 7.68 (5.6%)
Shares, m 93 96 106 108 109 122 127 126 129 133 135 +4.0%
Valuation, ×
Valuation, × P/E 9.49 14.49 15.04 17.95 0.00 6.17 5.69 17.23 10.12 0.00 16.26 9.6
P/S 3.40 3.93 2.66 3.41 1.48 1.94 1.71 1.91 1.46 1.42 2.06 2.3
P/B 1.24 1.25 0.95 1.41 0.88 1.01 1.05 1.38 1.17 1.08 1.50 1.1
EV/Sales 6.72 7.83 8.00 8.60 5.54 6.20 5.33 4.53 4.45 4.71 5.01 6.2
EV/FCF 39.06 17.46 (4.24) (30.91) 5.99 (30.56) (21.76) 14.51 (15.95) 7.58 8.27 (1.9)
Cash, $m
Cash, $m Operating cash flow 230 178 201 250 276 294 355 343 370 267 241 +1.7%
Capex (159) (7) (992) (39) 156 (398) (519) (108) (622) 188 215 n/m
Free cash flow 71 171 (791) 210 432 (104) (164) 235 (252) 455 456 +22.9%
Balance, $m
Balance, $m Working capital 39 (26) 9 25 (220) (150) (760) (671) (512) (451) (459) n/m
Net debt 1,372 1,488 2,236 2,368 1,920 2,187 2,423 1,972 2,701 2,412 2,216 +6.5%
Shareholders’ equity 1,134 1,195 1,180 1,106 796 982 1,091 1,039 1,128 961 1,087 (1.8%)
Returns, %
Returns, % ROA 4.90 3.40 2.14 2.30 (6.43) 5.02 5.54 2.21 3.33 (0.68) 2.51 (5.6) pt
ROIC 4.19 3.60 2.15 2.48 (3.18) 4.79 4.90 4.99 5.01 2.53 3.96 (1.7) pt
ROE 12.32 8.69 6.20 7.80 (23.60) 18.49 19.56 7.88 12.05 (2.53) 0.00 (14.8) pt
People
People Employees 9 11 11 11 14 18 19 21 24 24 — +11.5%
Revenue/emp, $m 45.88 34.63 38.06 41.71 33.65 28.52 35.28 35.82 37.68 30.54 — (4.4%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 6 Nov 2026

SFL Corporation Ltd. vs peers in Marine Shipping (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
SBLK Star Bulk Carriers Corp. $3.0B 10.4× 5.7× +44.46% (above 0%: growing) +433,233.33% (above 0%: growing) +25.84% (above 0%: growing) 56.88% 43.38% Compare
DAC Danaos Corporation $2.7B 5.0× 5.1× +4.66% (above 0%: growing) +16.81% (above 0%: growing) −81.11% (below 0%: shrinking) 72.84% 48.38% Compare
NMM Navios Maritime Partners LP $2.4B 5.6× 3.9× +25.22% (above 0%: growing) +147.01% (above 0%: growing) +252.84% (above 0%: growing) 65.58% 39.64% Compare
SFL SFL Corporation Ltd. $1.7B 16.3× 16.9× +13.12% (above 0%: growing) +277.14% (above 0%: growing) −18.32% (below 0%: shrinking) 57.64% 27.79%
CMRE Costamare Inc. $1.5B 4.8× 4.8× −2.12% (below 0%: shrinking) +2.01% (above 0%: growing) −269.21% (below 0%: shrinking) 70.25% 44.91% Compare
GSL Global Ship Lease, Inc. $1.4B 3.8× 4.0× +3.56% (above 0%: growing) −4.98% (below 0%: shrinking) +0.47% (above 0%: growing) 68.06% 47.24% Compare
CCEC Capital Clean Energy Carriers Corp. $1.2B 11.0× 10.4× +8.46% (above 0%: growing) −5.88% (below 0%: shrinking) −2,376.31% (below 0%: shrinking) 78.04% 50.63% Compare
HOS Hornbeck Offshore Services Inc $1.2B — (loss-making) 4.5× −22.18% (below 0%: shrinking) n/m −975.72% (below 0%: shrinking) 100.00% (20.37%) Compare
GNK Genco Shipping & Trading Limited $1.1B 14.4× 11.1× +90.01% (above 0%: growing) n/m +284.43% (above 0%: growing) 51.02% 29.14% Compare
Median of peers $1.5B 5.6× 4.9× +6.56% +9.41% −40.32% 69.16% 44.15%

All 38 Marine Shipping stocks →

SFL Corporation Ltd. (SFL) Latest News

8 Nov

Impact 3 · · MarketBeat transcript

4 Nov

Impact 4 · · The Motley Fool transcript
Impact 3 · · Moby
Impact 3 · · GlobeNewswire

28 Oct

Impact 4 · · GlobeNewswire
Impact 3 · · GlobeNewswire

17 Oct

Impact 3 · · Simply Wall St.

13 Oct

Impact 4 · · GlobeNewswire

7 Oct

Impact 4 · · GlobeNewswire

5 Oct

Impact 4 · · GlobeNewswire

23 Sep

Impact 4 · · Simply Wall St.

14 Sep

Impact 4 ·

11 Sep

Impact 4 ·

28 Aug

Impact 4 ·

26 Aug

Impact 3 · · The Motley Fool transcript
Impact 3 · · Moby
Impact 3 · · MarketBeat transcript
Impact 3 ·

15 May

Impact 4 · · Simply Wall St.
Impact 4 · · MarketBeat

14 May

Impact 3 · · Moby transcript

12 May

Impact 4 · · GlobeNewswire

29 Apr

Impact 4 · · GlobeNewswire

25 Mar

Impact 3 · · Insider Monkey

9 Mar

Impact 3 · · Insider Monkey

6 Mar

Impact 4 · · GlobeNewswire

16 Feb

Impact 4 · · Bloomberg

13 Feb

Impact 3 · · Simply Wall St.

12 Feb

Impact 4 · · Associated Press FinanceSimply Wall St.Insider MonkeyMT NewswiresZacksMotley FoolMT NewswiresMT Newswires
Impact 4 · · Moby
stockrow.com/SFL · Data as of Nov 6, 2026 · For information only; not investment advice. · © 2026 stockrow.com