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Diversified maritime asset owner leasing tankers, containerships, dry bulk carriers and offshore rigs on long-term charters.
Diversified maritime asset owner leasing tankers, containerships, dry bulk carriers and offshore rigs on long-term charters.
Leases ships and rigs to operators on long fixed-rate charters, so income comes as steady hire rather than spot freight rates, and it adds fleet through purchase-and-lease-back deals and newbuilds. Some charters include profit-sharing, which adds upside when markets are strong. Entities linked to John Fredriksen are its largest shareholder.
In one line: A diversified ship-leasing company, part of the Fredriksen group.
Moat: narrow (scale, switching costs). Diversified fleet on long-term charters with major operators gives stable, contracted cash flows.
Headquarters: Hamilton, Bermuda · Founded: 2003 · Employees: 24
Size SFL (SFL) is a United States Energy company (Marine Shipping) with a market value of $1.65B, the 1923rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $10.96 on 6 Nov 2026.
Performance Over six months the shares fell 8.7%, against +6.5% for the median peer and -1.1% for the United States market (cap-weighted) — 6th lowest of 18 in its peer set.
Growth Revenue fell 4.4% over the last twelve months (peer median +23.2%); the operating margin is 27.8% (peer median 38.8%).
Valuation It trades at 11.2× forward earnings against a peer median of 4.9× (3rd most expensive of 17).
Price implies For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.2 points below its cost of capital (6.2% WACC).
Short interest Short interest is 2.9% of the free float (15 Oct 2026).
Next results Next results expected around 17 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $752M | $733M | $904M | $752M | $670M |
| Revenue growth | — | -19% | +20% | +12% | — |
| Gross profit | $233M | $196M | $322M | $244M | $277M |
| EBITDA | $436M | $413M | $540M | $443M | $451M |
| Net income | $92.6M | -$26.4M | $131M | $83.9M | $203M |
| Free cash flow | $184M | $197M | -$275M | $78.7M | -$247M |
| Capital expenditure | $78.0M | $70.5M | $645M | $264M | $602M |
| Total debt | $2.33B | $2.57B | $2.84B | $2.57B | $2.67B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| SFL SFL | $1.65B | -9% | -4% | 28% | 11.2× | 5.2% |
| Costamare CMRE | $1.54B | -28% | -42% | 44% | 5.2× | -6.9% |
| Danaos DAC | $2.70B | +10% | +2% | 48% | 5.3× | -8.7% |
| Golar LNG GLNG | $4.40B | -23% | +95% | 46% | n/a | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | SFL | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -19.2% | -17.4% | 6th lowest of 18 |
| 6-month return | -8.7% | +6.5% | 6th lowest of 18 |
| Distance from 52-week high | -21.6% | -21.5% | 9th lowest of 18 |
| Revenue growth (TTM) | -4.4% | +23.2% | 2nd lowest of 18 |
| Operating margin | 27.8% | 38.8% | 5th lowest of 18 |
| Forward P/E | 11.2× | 4.9× | 3rd most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | 5.2% | -6.9% | most demanding of 13 |
| Growth delivered (Del g) | +9.2% | +12.4% | 6th lowest of 13 |
| Hurdle (Req g minus delivered) | -4.1 pp | -21.2 pp | 2nd most demanding of 13 |
| ROIC minus cost of capital | -1.2 pp | +6.3 pp | lowest of 18 |
| EV / EBITDA | 8.9× | 6.2× | 4th most expensive of 17 |
| Net debt / EBITDA | 5.1× | 0.8× | 2nd most indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| SFL SFL | United States | $1.65B | -9% | -4% | 28% | 11.2× | 5.2% | +9.2% |
| Nordic American Tankers NAT | United States | $1.41B | +13% | +29% | 29% | 7.7× | -3.4% | -3.8% |
| FLEX LNG FLNG | United States | $1.38B | -20% | +1% | 49% | 11.5× | -0.5% | +16.1% |
| Dorian LPG LPG | United States | $1.99B | +16% | +81% | 52% | 5.4× | -6.7% | +8.8% |
| Tsakos Energy Navigation TEN | United States | $1.32B | +2% | +23% | 38% | 3.5× | n/a | n/a |
| Navigator NVGS | United States | $1.21B | -14% | +7% | 25% | 11.0× | -2.2% | +12.0% |
| Teekay TK | United States | $1.11B | -10% | +16% | 48% | n/a | n/a | n/a |
| Teekay Tankers TNK | United States | $2.97B | +3% | +19% | 39% | 3.5× | n/a | n/a |
| Okeanis Eco Tankers ECO | United States | $3.19B | +48% | +105% | 62% | 3.9× | -13.7% | +6.7% |
| BW LPG BWLPG.OL | Norway | $3.31B | +7% | -9% | 15% | 4.5× | -7.1% | +37.2% |
| DHT DHT | United States | $3.33B | +9% | +39% | 57% | 3.8× | -11.7% | -6.4% |
| Tidewater TDW | United States | $3.49B | -14% | -1% | 18% | 13.3× | 1.2% | +27.8% |
| Ardmore Shipping ASC | United States | $712M | -11% | +21% | 29% | 4.1× | -14.9% | +7.1% |
| TORM TRMD-A.CO | Denmark | $3.87B | +8% | +41% | 41% | 3.5× | -17.3% | +12.7% |
| Scorpio Tankers STNG | United States | $4.13B | -4% | +39% | 49% | 5.6× | n/a | n/a |
| Cmb.tech CMBT | United States | $4.83B | +12% | +92% | 30% | 7.2× | n/a | n/a |
| Hafnia HAFNI.OL | Norway | $4.98B | +7% | +3% | 20% | 5.7× | -5.9% | +23.6% |
| International Seaways INSW | United States | $5.01B | +7% | +58% | 56% | 3.5× | -14.8% | +14.9% |