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Stocks · Industrials · Deep Sea Foreign Transportation of Freight

SFL Corp Ltd.

SFL Clue Score30
Bermuda CIK 0001289877
$13.34 -1.62% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $13.34 +59.95% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue413.0Operating income168.1Net income146.4EPS, diluted1.50Fiscal year 2017Revenue380.9 −7.8%Operating income154.6Net income101.2 −30.9%EPS, diluted1.03 −31.3%Fiscal year 2018Revenue418.7 +9.9%Operating income117.6Net income73.6 −27.3%EPS, diluted0.69 −33.0%Fiscal year 2019Revenue458.8 +9.6%Operating income137.8Net income89.2 +21.1%EPS, diluted0.83 +20.3%Fiscal year 2020Revenue471.0 +2.7%Operating income−138.2Net income−224.4 −351.7%EPS, diluted−2.06 −348.2%Fiscal year 2021Revenue513.4 +9.0%Operating income242.8Net income164.3EPS, diluted1.30Fiscal year 2022Revenue670.4 +30.6%Operating income275.5Net income202.8 +23.4%EPS, diluted1.53 +17.7%Fiscal year 2023Revenue752.3 +12.2%Operating income240.2Net income83.9 −58.6%EPS, diluted0.66 −56.9%Fiscal year 2024Revenue904.4 +20.2%Operating income306.7Net income130.7 +55.7%EPS, diluted1.01 +53.0%Fiscal year 2025Revenue733.0 −18.9%Operating income136.7Net income−26.4 −120.2%EPS, diluted−0.20 −119.8%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 413.0 380.9 418.7 458.8 471.0 513.4 670.4 752.3 904.4 733.0
Growth −7.8% +9.9% +9.6% +2.7% +9.0% +30.6% +12.2% +20.2% −18.9%
Operating income 168.1 154.6 117.6 137.8 −138.2 242.8 275.5 240.2 306.7 136.7
Net income 146.4 101.2 73.6 89.2 −224.4 164.3 202.8 83.9 130.7 −26.4
Growth −30.9% −27.3% +21.1% −351.7% +23.4% −58.6% +55.7% −120.2%
EPS, diluted 1.50 1.03 0.69 0.83 −2.06 1.30 1.53 0.66 1.01 −0.20
Growth −31.3% −33.0% +20.3% −348.2% +17.7% −56.9% +53.0% −119.8%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin40.7%Net margin35.5%Fiscal year 2017Operating margin40.6%Net margin26.6%Fiscal year 2018Operating margin28.1%Net margin17.6%Fiscal year 2019Operating margin30.0%Net margin19.4%Fiscal year 2020Operating margin−29.3%Net margin−47.6%Fiscal year 2021Operating margin47.3%Net margin32.0%Fiscal year 2022Operating margin41.1%Net margin30.2%Fiscal year 2023Operating margin31.9%Net margin11.2%Fiscal year 2024Operating margin33.9%Net margin14.4%Fiscal year 2025Operating margin18.6%Net margin−3.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 40.7% 40.6% 28.1% 30.0% −29.3% 47.3% 41.1% 31.9% 33.9% 18.6%
Net margin 35.5% 26.6% 17.6% 19.4% −47.6% 32.0% 30.2% 11.2% 14.4% −3.6%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flow
Fiscal year 2016Operating cash flow230.1Dividends paid−168.3Fiscal year 2017Operating cash flow177.8Dividends paid−152.9Fiscal year 2018Operating cash flow201.0Dividends paid−149.3Fiscal year 2019Operating cash flow249.7Dividends paid−150.7Fiscal year 2020Operating cash flow276.5Dividends paid−109.4Fiscal year 2021Operating cash flow293.6Buybacks0.0Dividends paid−77.6Fiscal year 2022Operating cash flow355.1Buybacks0.0Dividends paid−111.6Fiscal year 2023Operating cash flow343.1Buybacks−10.2Dividends paid−123.0Fiscal year 2024Operating cash flow369.9Dividends paid−138.5Fiscal year 2025Operating cash flow267.1Buybacks−10.0Dividends paid−125.1
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 230.1 177.8 201.0 249.7 276.5 293.6 355.1 343.1 369.9 267.1
Buybacks n/a n/a n/a n/a n/a 0.0 0.0 −10.2 n/a −10.0
Dividends paid −168.3 −152.9 −149.3 −150.7 −109.4 −77.6 −111.6 −123.0 −138.5 −125.1

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash62.4Total debt1,552.9Net cash (debt)−1,490.5Shareholders’ equity1,134.1Debt to equity1.37Fiscal year 2017Cash153.1Total debt1,504.0Net cash (debt)−1,351.0Shareholders’ equity1,195.0Debt to equity1.26Fiscal year 2018Cash211.4Total debt1,437.1Net cash (debt)−1,225.7Shareholders’ equity1,180.0Debt to equity1.22Fiscal year 2019Cash199.5Total debt1,608.1Net cash (debt)−1,408.6Shareholders’ equity1,106.4Debt to equity1.45Fiscal year 2020Cash215.4Total debt1,649.1Net cash (debt)−1,433.6Shareholders’ equity795.7Debt to equity2.07Fiscal year 2021Cash145.6Total debt1,889.2Net cash (debt)−1,743.6Shareholders’ equity982.3Debt to equity1.92Fiscal year 2022Cash188.4Total debt2,201.1Net cash (debt)−2,012.7Shareholders’ equity1,091.2Debt to equity2.02Fiscal year 2023Cash165.5Total debt2,146.7Net cash (debt)−1,981.3Shareholders’ equity1,039.4Debt to equity2.07Fiscal year 2024Cash134.6Total debt2,839.5Net cash (debt)−2,704.9Shareholders’ equity1,128.4Debt to equity2.52Fiscal year 2025Cash150.8Total debt2,566.5Net cash (debt)−2,415.6Shareholders’ equity960.9Debt to equity2.67
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 62.4 153.1 211.4 199.5 215.4 145.6 188.4 165.5 134.6 150.8
Total debt 1,552.9 1,504.0 1,437.1 1,608.1 1,649.1 1,889.2 2,201.1 2,146.7 2,839.5 2,566.5
Net cash (debt) −1,490.5 −1,351.0 −1,225.7 −1,408.6 −1,433.6 −1,743.6 −2,012.7 −1,981.3 −2,704.9 −2,415.6
Shareholders’ equity 1,134.1 1,195.0 1,180.0 1,106.4 795.7 982.3 1,091.2 1,039.4 1,128.4 960.9
Debt to equity 1.37 1.26 1.22 1.45 2.07 1.92 2.02 2.07 2.52 2.67

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
413.0 380.9 418.7 458.8 471.0 513.4 670.4 752.3 904.4 733.0
Growth −7.8% +9.9% +9.6% +2.7% +9.0% +30.6% +12.2% +20.2% −18.9%
168.1 154.6 117.6 137.8 −138.2 242.8 275.5 240.2 306.7 136.7
Growth −8.0% −23.9% +17.1% −200.3% +13.4% −12.8% +27.7% −55.4%
118.6 77.4 59.0 72.1 −228.7 164.3 202.8 87.3 141.3 −24.5
n/a n/a n/a n/a n/a 0.0 0.0 3.3 10.6 1.9
146.4 101.2 73.6 89.2 −224.4 164.3 202.8 83.9 130.7 −26.4
Growth −30.9% −27.3% +21.1% −351.7% +23.4% −58.6% +55.7% −120.2%
Per share
1.57 1.06 0.70 0.83 −2.06 1.35 1.60 0.67 1.01 −0.20
1.50 1.03 0.69 0.83 −2.06 1.30 1.53 0.66 1.01 −0.20
Growth −31.3% −33.0% +20.3% −348.2% +17.7% −56.9% +53.0% −119.8%
93.5 95.6 105.9 107.6 109.0 122.1 126.8 126.2 129.4 133.1
108.0 102.9 107.6 107.7 109.0 139.4 137.4 126.6 130.0 133.1
Growth −4.8% +4.6% +0.1% +1.2% +27.9% −1.4% −7.9% +2.7% +2.4%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 9.2% a year over five years.
  • The diluted share count rose 22.1% in five years, which is dilution.
  • Operating margin is up 48.0 points on five years ago, at 18.6%.
  • A net loss in 2 of 10 years on file.