Want to see SFL full AI Analyst Report?
Top Page
SFL Corporation
(NYSE:SFL)
Select Model
Select Model
Rating:59Neutral
Price Target:
$12.50
▲(2.29% Upside)
Action:Reiterated
Date:08/27/26
The score is held back primarily by high leverage and uneven historical cash-flow conversion, despite a TTM earnings recovery. The earnings call adds support via strong fleet utilization and a large, high-quality charter backlog, but sizable remaining newbuild capex and energy-segment timing risk temper the outlook. Technically the stock shows a constructive longer-term trend with neutral momentum, while valuation is mixed: a high dividend yield is offset by a high P/E.
Positive Factors
Contracted charter backlog
The sizable backlog and strong counterparty quality provide multi-year revenue visibility, reducing exposure to spot freight cycles and supporting recurring cash generation across the fleet.
Negative Factors
High financial leverage
Elevated leverage increases refinancing and downturn risk because vessel ownership requires substantial capital. Weaker freight markets or asset values could restrict investment capacity and pressure cash available for debt service.
Read all positive and negative factors
Positive Factors
Negative Factors
Contracted charter backlog
The sizable backlog and strong counterparty quality provide multi-year revenue visibility, reducing exposure to spot freight cycles and supporting recurring cash generation across the fleet.
Read all positive factors
SFL Corporation Key Performance Indicators (KPIs)
Any
Revenue by Segment
Breaks down where revenue actually comes from—different types of shipping, asset leasing, or investment income—revealing which businesses are growing and which are lagging. Shifts in segment mix can change profit margins and risk profile, helping investors assess sustainability of earnings and future growth drivers.
Breaks down where revenue actually comes from—different types of shipping, asset leasing, or investment income—revealing which businesses are growing and which are lagging. Shifts in segment mix can change profit margins and risk profile, helping investors assess sustainability of earnings and future growth drivers.
Data provided by:
The Fly
The FlySFL Corporation (SFL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.77B
Dividend Yield6.82%
Average Volume (3M)1.63M
Price to Earnings (P/E)49.9
Beta (1Y)0.59
Revenue Growth-15.61%
EPS Growth81.02%
CountryUS
Employees24
SectorIndustrials
Sector Strength72
IndustryMarine Shipping
Share Statistics
EPS (TTM)0.47
Shares Outstanding144,757,920
10 Day Avg. Volume1,316,576
30 Day Avg. Volume1,627,661
Financial Highlights & Ratios
PEG Ratio0.33
Price to Book (P/B)1.08
Price to Sales (P/S)1.44
P/FCF Ratio4.73
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.5
Revenue Forecast (FY)$695.60M
SFL Corporation Business Overview & Revenue Model
Company Description
SFL Corporation Ltd., a maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters. The company operates in various sec...
How the Company Makes Money
SFL primarily makes money by owning maritime (and historically, offshore) assets and contracting them out to customers under charter and lease agreements, generating contracted cash flows. The core revenue stream is charter hire/lease income paid ...
SFL Corporation Earnings Call Summary
Earnings Call Date:Aug 26, 2026
(Q2-2026)
| Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call conveyed a strong operational and financial quarter: revenue and EBITDA grew meaningfully quarter-over-quarter, utilization across core shipping segments was excellent, the charter backlog and counterparty quality provide multi-year cash flow visibility, and spot tanker performance produced significant upside. Management is investing in growth (notably LNG dual-fuel car carriers) and has actively raised capital while managing debt maturities. Offsetting this are sizable remaining newbuilding capex commitments (~$1.2B), energy-segment timing risk (Hercules warm stacked until 2027), reporting volatility from spot revenue recognition, and dilution from a $100M equity raise. Overall, positive momentum and balance-sheet actions outweigh the execution and funding risks, but the company faces notable near-term capital and timing challenges.Positive Updates
Quarterly Revenue and Profitability Growth
Reported operating revenues of $201M in Q2 versus $174.5M in Q1 (+15.2%). Adjusted EBITDA / EBITDA-equivalent cash flow was ~$130M, ~20% higher than Q1 (from ~$108M). Net income increased to ~$34M ($0.25 per share) from ~$26M ($0.20) in Q1 (+30.8%). Last twelve months EBITDA was $461M.
Negative Updates
Large Remaining Newbuilding CapEx
Approximately $1.2B of remaining capital expenditures across five container vessels and four PCTC newbuildings. Seven of those have long-term charters, leaving funding, delivery timing and chartering risk for the balance.
Read all updates
Q2-2026 Updates
Positive
Negative
Quarterly Revenue and Profitability Growth
Reported operating revenues of $201M in Q2 versus $174.5M in Q1 (+15.2%). Adjusted EBITDA / EBITDA-equivalent cash flow was ~$130M, ~20% higher than Q1 (from ~$108M). Net income increased to ~$34M ($0.25 per share) from ~$26M ($0.20) in Q1 (+30.8%). Last twelve months EBITDA was $461M.
Read all positive updates
Company Guidance
The management’s forward-looking guidance reiterated strong cash‑flow visibility and disciplined growth: Q2 results of $201m revenues, ~$199m gross charter hire and ~$130m adjusted EBITDA (LTM EBITDA ~$461m), net income $34m ($0.25/share) and a declared dividend of $0.22/share (90th consecutive, >$3.0bn cumulative, >$32/share returned; ~7% annualized yield) underpin a $3.8bn charter backlog (≈65% with investment‑grade counterparties) and a diversified 61‑asset portfolio (30 container, 16 tankers, 11 PCTC, 2 dry bulk, 2 rigs). Key operational and liquidity metrics cited include utilization: container 99.3%, car carriers 100%, tankers 99.8%, dry bulk 99.4%, energy 50%; ~4,620 operating days; gross charter hire split: container ~$83m, car carriers ~$27m, tankers ~$62m; Suezmax spot TCE ~$133k/day in Q2 (vs $54k in Q1) and ~63% of Q3 days covered at ~$93k/day; Handymax ~$16.1k/day (vs $10.7k); shipping OpEx ~$37m, net operating & G&A ~$69m; energy revenue ~$24m. Capital and financing guidance: $100m equity raised via ATM/DRIP (8.8m shares issued), $113m cash + $160m undrawn facilities (> $270m liquidity), book equity ratio ~29%, $75m 2030 bond tap at 103.5 (~6.8% yield) and $150m bond redeemed; remaining newbuild capex ≈$1.2bn (nine newbuilds—five containers + four PCTC, yard cost for four PCTCs ≈$360m; seven of nine have charters; PCTC first fixed five‑year adds $150m backlog, up to $300m with options). Management expects to find charters for the two open PCTC newbuilds (yards largely sold out into 2030), will seek longer‑term employment for the high‑cash‑generating Suezmaxes, expects Hercules to start contributing H1 2027 while Linus is contracted through May 2029, and states no plans for further share issuance in the foreseeable future.SFL Corporation Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
45
Neutral
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 721.18M | 719.75M | 891.62M | 738.13M | 655.65M | 494.70M |
| Gross Profit | 273.74M | 417.98M | 309.14M | 230.32M | 262.68M | 199.64M |
| EBITDA | 455.07M | 421.39M | 560.09M | 466.23M | 507.93M | 393.06M |
| Net Income | 63.85M | -26.43M | 130.65M | 83.94M | 202.77M | 164.34M |
Balance Sheet | ||||||
| Total Assets | 3.52B | 3.64B | 4.11B | 3.73B | 3.86B | 3.46B |
| Cash, Cash Equivalents and Short-Term Investments | 118.12M | 154.97M | 138.29M | 170.60M | 195.65M | 166.83M |
| Total Debt | 2.38B | 2.57B | 2.84B | 2.57B | 2.67B | 2.41B |
| Total Liabilities | 2.48B | 2.68B | 2.98B | 2.69B | 2.77B | 2.48B |
| Stockholders Equity | 1.04B | 960.86M | 1.13B | 1.04B | 1.09B | 982.33M |
Cash Flow | ||||||
| Free Cash Flow | 217.75M | 219.66M | -275.00M | 78.67M | -247.37M | -288.03M |
| Operating Cash Flow | 263.81M | 290.14M | 369.86M | 343.09M | 355.13M | 293.60M |
| Investing Cash Flow | 191.56M | 165.09M | -617.50M | -103.89M | -499.09M | -389.05M |
| Financing Cash Flow | -498.08M | -438.96M | 216.70M | -262.06M | 178.37M | 25.02M |
SFL Corporation Technical Analysis
Positive
12.22
Price Trends
11.57
Positive
11.44
Positive
10.09
Positive
Market Momentum
0.18
Positive
49.92
Neutral
39.83
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SFL, the sentiment is Positive. The current price of 12.22 is above the 20-day moving average (MA) of 12.19, above the 50-day MA of 11.57, and above the 200-day MA of 10.09, indicating a neutral trend. The MACD of 0.18 indicates Positive momentum. The RSI at 49.92 is Neutral, neither overbought nor oversold. The STOCH value of 39.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SFL.
SFL Corporation Risk Analysis
SFL Corporation disclosed 58 risk factors in its most recent earnings report. SFL Corporation reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
SFL Corporation Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | $2.49B | 5.82 | ― | 8.64% | 105.24% | 413.89% | |
81 Outperform | $1.63B | 4.25 | 20.88% | 5.50% | 5.55% | -3.50% | |
81 Outperform | $2.58B | 5.58 | 13.31% | 0.27% | 13.38% | 52.70% | |
66 Neutral | $1.19B | 28.21 | 0.02% | 4.30% | 25.64% | 156.91% | |
65 Neutral | $1.91B | 5.64 | 15.97% | 2.99% | -52.60% | 11.51% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | $1.77B | 49.92 | 3.21% | 6.88% | -15.61% | 81.02% |
* Industrials Sector Average
SFL
SFL Corporation
12.03
4.47
59.08%
CMRE
Costamare
14.84
3.49
30.70%
GNK
Genco Shipping
25.83
10.05
63.74%
GSL
Global Ship Lease
44.20
16.09
57.26%
NMM
Navios Maritime Partners
85.40
38.62
82.56%
ECO
Okeanis Eco Tankers Corp.
62.28
39.86
177.76%
SFL Corporation Corporate Events
SFL Corporation Files Mid‑Year 2026 Unaudited Results on Form 6‑K
Aug 26, 2026
For the six months ended June 30, 2026, SFL reported unaudited condensed interim financial statements showing a shift in its revenue mix, with time charter revenues declining year-on-year while voyage charter and pool revenues rose sharply and dri...
SFL Corporation Posts Solid Q2 2026 Results and Extends Car Carrier Charter Backlog
Aug 26, 2026
SFL Corporation announced on August 26, 2026, its preliminary financial results for the quarter ended June 30, 2026, reporting U.S. GAAP operating revenues of $201 million and net income of $34 million, or $0.25 per share. The quarter saw strong s...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.