Added to YB: 2025-03-10
Pitch date: 2025-01-20
SBFFY [bullish]
SBM Offshore N.V.
Author Info
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Company Info
SBM Offshore N.V. provides floating production solutions to the offshore energy industry worldwide. It operates in two segments, Lease and Operate, and Turnkey.
Market Cap
$3.7B
Pitch Price
N/A
Price Target
N/A
Dividend
4.15%
Sector
Energy Equipment and Services
Category
value
Show full summary:
SBM Offshore N.V. - $SBFFY
SBFFY: World's largest FPSO fleet operator. $34B backlog vs $3.1B market cap. Transitioning to BOT model, accelerating cash flow & reducing debt. 2024 revenue guidance $6B+, EBITDA $1.9B. Dominates Guyana deepwater. 10% yield (div+buybacks). Turnkey biz could add $3B value. Undervalued at 17% discount rate vs 6% WACC.
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