QM · rank #15 · 2026-10-22
SBMO
AMSTERDAM · EUR · $6.44B (USD)
The exact numbers the algorithm saw.
| Momentum 12-1 Return from 12 months ago to 1 month ago. | +70.18% |
|---|---|
| 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). | $6.44B |
| Anchor (recent) Close on 2026-09-22 | $36.34 |
| Anchor (far) Close on 2025-09-22 | $21.35 |
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 FPSOs under long-term contracts, with a US$35.6 billion directional backlog anchored by Petrobras and ExxonMobil deepwater awards.
Rationale
The 70% trailing momentum is structurally grounded — raised 2026 guidance, two new Petrobras SEAP contracts, and a Guyana FEED award confirm backlog conversion is accelerating, giving the quality-momentum signal fundamental backing rather than pure sentiment.
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 and GranMorgu simultaneously, directly breaking the revenue-visibility thesis.
- 2Cost overruns or schedule slippage on the four concurrent FPSO builds (GranMorgu, Chalchi, SEAP-I, SEAP-II) could compress the 15.8% profit margin that underpins the quality screen, as Turnkey revenue at US$5.2 billion dominates the 2026 mix and carries execution risk.
AI verdict council
Each pick is reviewed independently by 3 models before any order. 3 of 3 voted to proceed.