SFL Corp Ltd. SFL
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Market cap
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No price or market cap here: this company files no 10-K, so the only share count SEC publishes for it counts its ordinary shares in its home market, while its US listing is a depositary receipt standing for some number of them. That number is in no filing, so a price multiplied by that count is not this company's value and is not shown. The financial statements below are as filed.
Valuation FY2025 figures against the last close
P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-0.20
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $733.0M | $904.4M | $752.3M | $670.4M | $513.4M | $471.0M | $458.8M | $418.7M | $380.9M | $413.0M |
| Total operating expenses | $589.2M | $603.1M | $530.8M | $408.1M | $310.0M | $611.5M | $321.1M | $306.1M | $227.4M | $244.7M |
| Operating income | $136.7M | $306.7M | $240.2M | $275.5M | $242.8M | -$138.2M | $137.8M | $117.6M | $154.6M | $168.1M |
| Interest expense | $180.5M | $183.0M | $167.0M | $117.3M | — | — | — | — | — | — |
| Pre-tax income | -$24.5M | $141.3M | $87.3M | $202.8M | $164.3M | -$228.7M | $72.1M | $59.0M | $77.4M | $118.6M |
| Income tax | $1.9M | $10.6M | $3.3M | $0 | $0 | — | — | — | — | — |
| Net income | -$26.4M | $130.7M | $83.9M | $202.8M | $164.3M | -$224.4M | $89.2M | $73.6M | $101.2M | $146.4M |
| EPS, basic | -0.20 | 1.01 | 0.67 | 1.60 | 1.35 | -2.06 | 0.83 | 0.70 | 1.06 | 1.57 |
| EPS, diluted | -0.20 | 1.01 | 0.66 | 1.53 | 1.30 | -2.06 | 0.83 | 0.69 | 1.03 | 1.50 |
| Shares, diluted (wtd. avg.) | $133.1M | $130.0M | $126.6M | $137.4M | $139.4M | $109.0M | $107.7M | $107.6M | $102.9M | $108.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $150.8M | $134.6M | $165.5M | $188.4M | $154.0M | $224.4M | $203.0M | $212.4M | $153.1M | $62.4M |
| Receivables | $11.6M | $36.8M | $41.2M | $20.0M | $11.1M | $6.7M | $4.6M | $3.0M | $12.6M | $3.5M |
| Inventory | $13.8M | $17.4M | $11.7M | $16.4M | $10.1M | $8.8M | $7.9M | $8.5M | $5.1M | $5.1M |
| Total current assets | $259.2M | $316.0M | $298.1M | $297.0M | $250.3M | $356.4M | $390.5M | $413.6M | $317.7M | $278.4M |
| Property, plant and equipment | — | — | — | — | — | — | — | $1.56B | $1.76B | — |
| Total assets | $3.64B | $4.11B | $3.73B | $3.86B | $3.46B | $3.09B | $3.89B | $3.88B | $3.01B | $2.94B |
| Short-term debt | $605.9M | $689.0M | $432.9M | $921.3M | $302.8M | $485.0M | $253.1M | $267.1M | $313.8M | $174.9M |
| Total current liabilities | $710.3M | $827.9M | $969.2M | $1.06B | $400.3M | $576.5M | $365.8M | $404.1M | $343.7M | $239.0M |
| Long-term debt | $1.96B | $2.15B | $1.71B | $1.28B | $1.59B | $1.16B | $1.36B | $1.17B | $1.19B | $1.38B |
| Total liabilities | $2.68B | $2.98B | $2.69B | $2.77B | $2.48B | $2.30B | $2.78B | $2.70B | $1.82B | $1.80B |
| Retained earnings | -$26.4M | $0 | $960.0K | $40.0M | -$92.7M | -$257.1M | $0 | $29.5M | $203.9M | $255.6M |
| Total equity | $960.9M | $1.13B | $1.04B | $1.09B | $982.3M | $795.7M | $1.11B | $1.18B | $1.19B | $1.13B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $267.1M | $369.9M | $343.1M | $355.1M | $293.6M | $276.5M | $249.7M | $201.0M | $177.8M | $230.1M |
| Depreciation and amortisation | $235.0M | $239.2M | $214.1M | $187.8M | $138.3M | $111.3M | $116.4M | $104.1M | $88.2M | $94.3M |
| Investing cash flow | $188.1M | -$617.5M | -$103.9M | -$499.1M | -$389.1M | $176.3M | -$169.9M | -$866.6M | $48.4M | $39.4M |
| Financing cash flow | -$439.0M | $216.7M | -$262.1M | $178.4M | $25.0M | -$431.4M | -$89.2M | $724.9M | -$135.5M | -$277.3M |
| Dividends paid | $125.1M | $138.5M | $123.0M | $111.6M | $77.6M | $109.4M | $150.7M | $149.3M | $152.9M | $168.3M |
| Buybacks | $10.0M | $10.2M | $10.2M | $0 | $0 | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001289877-26-000008.
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