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Cmb.Tech NV

Cmb.Tech NV

NYSE•CMBT
CEO: Mr. Hugo De Stoop
Sector: Industrials
Industry: Marine Shipping
Listing Date: 2000-02-17
Cmb.Tech NV, engages in marine transportation business. The company operates through three division: Marine, H2 Infra, and H2 Industry. The Marine division owns and operates fleet of crude oil tankers, bulk carriers, container ships, chemical, offshore wind supply vessels, tugboats, and ferries. This division have 88 conventional fuel vessels and 64 vessels. The H2 Infra division develops and secures green molecule supplies; and produces and distributes green hydrogen and ammonia fuels. The H2 Industry division provides scalable dual-fuel industrial applications. The company was formerly known as Euronav NV and changed its name to Cmb.Tech NV in October 2024. The company was incorporated in 2003 and is headquartered in Antwerp, Belgium. Cmb.Tech NV is a subsidiary of CMB NV.
Contact Information
De Gerlachekaai 20, Antwerp, 2000, Belgium
32-3-247-44-11
www.cmb.tech
Market Cap
$2.22B
P/E (TTM)
3.9
12.1
Dividend Yield
--
52W High
$12.00
52W Low
$7.65
52W Range
73%
Rank44Top 40.4%
4.1
F-Score
Modified Piotroski Analysis
Based on 9-year fundamentals
Average • 4.1 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2024

Financial Dashboard

Q3 2025 Data

Revenue

$454.25M+104.76%
4-Quarter Trend

EPS

$0.08-83.34%
4-Quarter Trend

FCF

-$138.17M-14.73%
4-Quarter Trend

2024 Annual Earnings Highlights

Key Highlights

Profit Rises Post-Merger Profit for period $870.8M, up 1.5% from $858.0M; driven by $635.0M asset disposal gains. Fleet grew to 98 vessels.
Time Charter Revenue Jumps Time charter revenues increased 60% to $257.6M, reflecting fleet diversification post-CMB.TECH acquisition in February 2024.
Fleet Diversification Complete Total fleet reached 98 vessels, including dry bulk, container, chemical, and offshore wind segments. Newbuild order book totals $2.4B.
Debt Rises Post Acquisition Total interest-bearing debt reached $2.64B, up from $904.1M, primarily funding CMB.TECH Enterprises acquisition in February.

Risk Factors

Geopolitical Trade Disruptions Red Sea attacks and conflicts increase voyage times, fuel costs, and insurance premiums across all shipping segments.
Rising Interest Rate Exposure Variable rate debt exposes profitability to rate hikes; 1% SOFR/EURIBOR increase costs $14.0M annually in interest expense.
Regulatory Compliance Costs Evolving ESG mandates (IMO, EU ETS) require capital expenditure and increase operational complexity for fleet compliance.
Customer Concentration Risk Substantial revenue derived from limited customers; loss of key charterer could cause significant revenue and cash flow loss.

Outlook

Green Fuel Technology Focus Strategy centers on leading decarbonization via hydrogen/ammonia propulsion R&D and commercialization efforts.
H2 Infra Namibia Expansion H2 Infra division advancing Namibia green hydrogen/ammonia production; Phase 3 CapEx estimated at $2.55B targeting 2030 readiness.
Newbuild Delivery Schedule Order book includes 5 VLCCs, 2 Suezmaxes, 18 Newcastlemaxes, and 8 chemical tankers scheduled for delivery through 2029.
Capital Structure Optimization Management focuses on optimizing capital mix, maintaining strong financial health, and managing debt covenants post-acquisition.

Peer Comparison

Revenue (TTM)

ZIM Integrated Shipping Services Ltd.ZIM
$7.59B
+1.6%
BW LPG LimitedBWLP
$3.63B
+3.0%
Costamare Inc.CMRE
$1.43B
-29.3%

Gross Margin (Latest Quarter)

Danaos CorporationDAC
60.0%
+1.3pp
Costamare Inc.CMRE
55.3%
+27.3pp
Cmb.Tech NVCMBT
49.5%
+9.6pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
ZIM$2.41B1.250.7%53.3%
SBLK$2.34B38.52.5%31.7%
CMBT$2.22B3.937.9%67.1%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
26.2%
Strong Growth
4Q Net Income CAGR
-40.2%
Declining Profitability
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Feb 26, 2026
|
EPS:$0.34
|
Revenue:$449.43M
Reports
All Years

  • Form 20-F - FY 2024

    Period End: Dec 31, 2024|Filed: Apr 9, 2025|
    Revenue: $940.25M-23.9%
    |
    EPS: $4.44+4.5%
    Beat

  • Form 20-F - FY 2023

    Period End: Dec 31, 2023|Filed: Apr 11, 2024|
    Revenue: $1.24B+41.9%
    |
    EPS: $4.25+312.6%
    Beat

  • Form 20-F - FY 2022

    Period End: Dec 31, 2022|Filed: Apr 12, 2023|
    Revenue: $870.34M+115.6%
    |
    EPS: $1.03+163.6%
    Beat

  • Form 20-F - FY 2021

    Period End: Dec 31, 2021|Filed: Apr 14, 2022|
    Revenue: $403.67M-68.9%
    |
    EPS: $-1.62-166.9%
    Beat

  • Form 20-F - FY 2020

    Period End: Dec 31, 2020|Filed: Apr 15, 2021|
    Revenue: $1.30B+38.9%
    |
    EPS: $2.42+365.4%
    Beat