QM · rank #15 · 2026-10-21
SBMO
AMSTERDAM · EUR · $6.52B (USD)
The exact numbers the algorithm saw.
| Momentum 12-1 Return from 12 months ago to 1 month ago. | +71.20% |
|---|---|
| ROE TTM Return on equity, trailing 12 months. | +18.0% |
| Profit margin Net profit margin, trailing 12 months. | +15.8% |
| Market cap (USD) Size filter: > $300M required (USD-equivalent). | $6.52B |
| Anchor (recent) Close on 2026-09-21 | $36.22 |
| Anchor (far) Close on 2025-09-19 | $21.16 |
The AI research card
Independent qualitative review of each pick before the order is placed. On the rare day the research service is unavailable, the paper book trades on the quant ranking alone and no card appears here.
Summary
SBM Offshore designs, builds, and leases large deepwater FPSOs under long-term contracts, anchored by a US$35.6 billion directional backlog dominated by Petrobras and Guyana developments.
Rationale
The 71% trailing momentum is supported by genuine fundamental quality — 18% ROE, 16% profit margins, raised 2026 guidance, and two new Petrobras FPSO awards — rather than pure sentiment rotation, making the quality-momentum signal internally consistent.
Material risks
- 1Petrobras and Guyana basin concentration means a single operator capital-allocation shift or oil-price-driven deferral could impair backlog conversion on SEAP-I/II, GranMorgu, and Chalchi simultaneously, directly breaking the revenue-visibility thesis.
- 2MODEC, Hanwha Ocean, and Saipem compete on standardized FPSO hulls, and if Fast4Ward's cost or schedule advantage erodes, SBM's execution moat — the core justification for premium ROE — compresses toward commodity contractor margins.
AI verdict council
Each pick is reviewed independently by 3 models before any order. 3 of 3 voted to proceed.