QM · rank #13 · 2026-10-23
SBMO
AMSTERDAM · EUR · $6.54B (USD)
The exact numbers the algorithm saw.
| Momentum 12-1 Return from 12 months ago to 1 month ago. | +69.83% |
|---|---|
| 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). | $6.54B |
| Anchor (recent) Close on 2026-09-23 | $36.70 |
| Anchor (far) Close on 2025-09-23 | $21.61 |
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 is an integrated FPSO lifecycle company that finances, engineers, fabricates and operates deepwater production vessels under long-term lease-and-operate contracts, underpinned by a US$35.6 billion backlog extending to 2050.
Rationale
The 70% price momentum is structurally anchored — not sentiment-driven — by a 112% H1 revenue surge, raised full-year guidance to US$7.6 billion revenue and US$1.9 billion EBITDA, named contract wins from Petrobras and ExxonMobil, and an 18% ROE with 16% margins that confirm the quality screen is capturing real earnings power rather than cyclical noise.
Material risks
- 1Longtail FPSO — currently the highest-profile growth catalyst — remains contingent on government approvals, ExxonMobil's final work order and FID, meaning the backlog figure materially overstates contracted certainty on that project.
- 2A fatal subcontractor incident at a Chinese yard in June 2026 introduces execution, regulatory and reputational risk across the simultaneous five-vessel construction program at a moment when any delay compounds cost and financing exposure.
AI verdict council
Each pick is reviewed independently by 3 models before any order. 3 of 3 voted to proceed.