CMB.TECH NV (CMBT) Financials

CMBT

FY2025 annual

Revenue $1.7B +77.2% YoY

Net Income $139.1M -84.0% YoY

EPS (Diluted) Not reported for FY2025

Operating Cash Flow $443.5M -3.4% YoY

Market Cap $5.3B as of Oct 21, 2026

Price / Sales 3.2x on $1.7B revenue, FY2025

Price / Earnings 38.2x on $139.1M net income, FY2025

Price / Book 2.1x on $2.6B equity, Q1 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 21, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Apr 20, 2026 Reported Apr 20, 2026 Currency USD FYE April

Newest figures come from the 20-F for FY2025, filed Apr 20, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CMBT SEC filings page.

CMB.TECH NV (CMBT) reported $1.7B in revenue for fiscal year 2025, up 77.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI CMBT FY2025 2026-10-04

Revenue expanded sharply, but 2025 earnings normalized while investment and financing enlarged the balance sheet and tightened short-term liquidity.

Cash generation held up better than reported profit: revenue reached $1.67B in FY2025, yet net income fell to $139M from $871M, while operating cash flow remained near $444M versus $459M. That gap suggests the unusually high reported margins in FY2024 were not a dependable guide to recurring earnings, even though cash conversion was comparatively steadier.

The business materially expanded its asset base, with total assets rising to $8.4B from $3.9B in FY2024. Investing absorbed $1.6B while financing supplied $1.3B, indicating that expansion required substantial capital flows beyond internally reported profit.

Short-term balance-sheet flexibility narrowed: the current ratio fell from 1.2x to 0.9x, leaving current liabilities of $1.1B above current assets of $912.6M. At the same time, total liabilities reached $5.8B against equity of $2.6B, so the larger platform carries a heavier overall financing burden than its FY2024 scale suggested.

Financial Health Signals

Financial health score not available

CMB.TECH NV does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

3/8

CMB.TECH NV passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Cash-Backed

3.19x

For every $1 of reported earnings, CMB.TECH NV generates $3.19 in operating cash flow ($443.5M OCF vs $139.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

None of these metrics is reported for Q1 2026.

Cash & Balance Sheet

Cash & Debt

$155.0M

YoY-54.9%

QoQ+298.9%

CMB.TECH NV held $155.0M in cash against $4.1M in long-term debt as of Q1 2026, with $779.6M of liabilities due within a year.

Free Cash Flow

Not reported for Q1 2026.

Dividends Per Share

Not reported for Q1 2026.

Shares Outstanding

Not reported for Q1 2026.

Margins & Returns

None of these metrics is reported for Q1 2026.

Capital Allocation

None of these metrics is reported for Q1 2026.

CMBT Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

CMBT quarterly income statement

Metric	FY2520-F	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Revenue	$1.7B+77.2%	$940.2M-23.9%	$1.2B+44.5%	$854.7M+103.6%	$419.8M-65.3%	$1.2B+32.3%	$914.7M+52.4%	$600.0M+16.9%	$513.4M-25.0%	$684.3M-19.2%	$846.5M
Interest Expense	$3.5M-97.9%	$169.3M-1.5%	$171.9M+29.2%	$133.0M+39.2%	$95.5M+4.4%	$91.6M-23.6%	$119.8M+34.0%	$89.4M+76.3%	$50.7M-1.9%	$51.7M+1.5%	$50.9M
Income Tax	$10.2M+438.0%	$1.9M-68.5%	$6.0M+114.3%	$2.8M+756.7%	-$427K-122.0%	$1.9M+222.9%	$602K+152.9%	$238K+117.5%	-$1.4M-680.5%	-$174K-103.1%	$5.6M
Net Income	$139.1M-84.0%	$870.8M+1.5%	$858.0M+322.2%	$203.3M+160.0%	-$338.8M-171.6%	$473.2M+321.7%	$112.2M+202.0%	-$110.1M-8058.8%	$1.4M-99.3%	$204.0M-41.8%	$350.3M
Diluted Shares (Avg)	229M+17.0%	196M-2.9%	202M0.0%	202M+0.1%	202M-4.0%	210M-2.7%	216M+12.5%	192M+21.3%	158M-0.1%	158M+0.6%	158M

Metric	Q1'266-K	Q3'256-K	Q1'2510-Q	Q3'2410-K	Q3'2310-K	Q1'2310-Q	Q3'2210-K	Q3'2110-K

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).

CMBT Balance Sheet

CMBT quarterly balance sheet

Metric	FY2520-F	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Total Assets	$8.4B+115.2%	$3.9B+14.2%	$3.4B-13.9%	$4.0B+5.3%	$3.8B+2.2%	$3.7B-11.5%	$4.2B+0.9%	$4.1B+46.8%	$2.8B-7.7%	$3.0B	N/A
Current Assets	$912.6M+93.8%	$470.8M-71.1%	$1.6B+168.8%	$607.1M+32.1%	$459.4M+1.7%	$451.9M-43.7%	$802.2M+53.9%	$521.1M+85.7%	$280.6M-24.8%	$373.4M	N/A
Cash & Equivalents	$146.5M+277.0%	$38.9M-90.9%	$429.4M+138.6%	$179.9M+18.0%	$152.5M-5.5%	$161.5M-45.6%	$297.0M+71.5%	$173.1M+20.5%	$143.6M-30.5%	$206.7M+57.0%	$131.7M
Inventory	$77.2M+191.2%	$26.5M+17.7%	$22.5M-45.9%	$41.6M-39.7%	$69.0M-8.9%	$75.8M-58.7%	$183.4M+723.8%	$22.3M	N/A	N/A	N/A
Accounts Receivable	$320.8M+36.0%	$235.9M-23.2%	$307.1M-16.3%	$366.8M+54.3%	$237.7M+10.8%	$214.5M-30.6%	$309.0M+9.0%	$283.5M+107.2%	$136.8M-17.8%	$166.3M	N/A
Goodwill	$177.0M	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$5.8B+113.2%	$2.7B+155.5%	$1.1B-40.9%	$1.8B-0.7%	$1.8B+31.4%	$1.4B-25.8%	$1.9B-0.7%	$1.9B+93.2%	$966.4M-16.6%	$1.2B	N/A
Current Liabilities	$1.1B+170.2%	$392.7M-7.6%	$424.8M+67.0%	$254.3M-20.8%	$321.0M+57.7%	$203.6M-35.6%	$316.1M+10.1%	$287.1M+80.9%	$158.7M-16.1%	$189.1M	N/A
Non-Current Liabilities	$4.7B+103.5%	$2.3B+264.1%	$637.2M-58.7%	$1.5B+3.7%	$1.5B+26.9%	$1.2B-23.8%	$1.5B-2.7%	$1.6B+96.0%	$805.9M-16.9%	$969.9M	N/A
Long-Term Debt	$3.4M+132.1%	$1.5M-56.9%	$3.4M-42.3%	$5.8M-65.2%	$16.8M-20.8%	$21.2M-50.9%	$43.2M	N/A	$898.7M-17.2%	$1.1B+3.1%	$1.1B
Total Equity	$2.6B+120.0%	$1.2B-49.4%	$2.4B+8.5%	$2.2B+10.9%	$2.0B-15.2%	$2.3B0.0%	$2.3B+2.3%	$2.3B+22.5%	$1.8B-2.3%	$1.9B-0.9%	$1.9B
Retained Earnings	$737.2M-5.1%	$777.1M-3.8%	$807.9M+109.3%	$386.0M+114.3%	$180.1M-66.7%	$540.7M+28.7%	$420.1M+25.1%	$335.8M-29.1%	$473.6M-8.2%	$515.7M	N/A

Metric	Q1'266-K	Q3'256-K	Q1'2510-Q	Q3'2410-K	Q3'2310-K	Q1'2310-Q	Q3'2210-K	Q3'2110-K
Total Assets	$8.4B+125.1%	$3.9B+14.2%	$3.7B	$3.4B-13.9%	$4.0B+5.3%	$4.1B	$3.8B+2.2%	$3.7B-11.5%
Current Assets	$714.9M-15.3%	$470.8M-71.1%	$843.8M	$1.6B+168.8%	$607.1M+32.1%	$638.7M	$459.4M+1.7%	$451.9M-43.7%
Cash & Equivalents	$155.0M-54.9%	$38.9M-90.9%	$343.9M	$429.4M+138.6%	$179.9M+18.0%	$277.2M	$152.5M-5.5%	$161.5M-45.6%
Inventory	$58.3M+77.9%	$26.5M+17.7%	$32.8M	$22.5M-45.9%	$41.6M-39.7%	$47.6M	$69.0M-8.9%	$75.8M-58.7%
Accounts Receivable	$422.9M+50.5%	$235.9M-23.2%	$281.0M	$307.1M-16.3%	$366.8M+54.3%	$263.4M	$237.7M+10.8%	$214.5M-30.6%
Goodwill	$172.3M	$0	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$5.8B+133.4%	$2.7B+155.5%	$2.5B	$1.1B-40.9%	$1.8B-0.7%	$2.2B	$1.8B+31.4%	$1.4B-25.8%
Current Liabilities	$779.6M+27.0%	$392.7M-7.6%	$614.0M	$424.8M+67.0%	$254.3M-20.8%	$304.9M	$321.0M+57.7%	$203.6M-35.6%
Non-Current Liabilities	$5.1B+168.0%	$2.3B+264.1%	$1.9B	$637.2M-58.7%	$1.5B+3.7%	$1.9B	$1.5B+26.9%	$1.2B-23.8%
Long-Term Debt	$4.1M+88.2%	$1.5M-56.9%	$2.2M	$3.4M-42.3%	$5.8M-65.2%	$15.6M	$16.8M-20.8%	$21.2M-50.9%
Total Equity	$2.6B+108.1%	$1.2B-49.4%	$1.2B	$2.4B+8.5%	$2.2B+10.9%	$1.9B	$2.0B-15.2%	$2.3B0.0%
Retained Earnings	$902.6M+41.4%	$777.1M-3.8%	$638.3M	$807.9M+109.3%	$386.0M+114.3%	$132.0M	$180.1M-66.7%	$540.7M+28.7%

Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.

CMBT Cash Flow Statement

CMBT quarterly cash flow statement

Metric	FY2520-F	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Operating Cash Flow	$443.5M-3.4%	$459.1M-45.2%	$837.4M+227.7%	$255.6M+1109.9%	-$25.3M-102.6%	$969.8M+256.6%	$272.0M+32241.4%	$841K-99.6%	$211.3M-51.8%	$438.2M-2.7%	$450.5M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	$40.6M	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	$231.4M	N/A	N/A	N/A	N/A
Investing Cash Flow	-$1.6B-136.9%	-$680.2M-178.2%	$869.7M+647.5%	-$158.8M+55.0%	-$353.2M-201.6%	-$117.1M-367.7%	$43.8M-77.0%	$190.0M+572.2%	-$40.2M+60.0%	-$100.6M+51.1%	-$205.9M
Financing Cash Flow	$1.3B+838.7%	-$173.0M+88.2%	-$1.5B-2222.7%	-$62.9M-116.8%	$373.9M+137.4%	-$999.7M-422.9%	-$191.2M-19.4%	-$160.2M+31.8%	-$235.0M+10.0%	-$261.2M+28.5%	-$365.3M
Dividends Paid	$20.2M-98.2%	$1.1B+78.7%	$630.5M+2503.3%	$24.2M0.0%	$24.2M-93.1%	$352.0M+1253.2%	$26.0M+14.9%	$22.6M-48.7%	$44.1M-79.6%	$216.8M+57.1%	$138.0M
Share Buybacks	$126.9M0.0%	$126.9M	N/A	N/A	N/A	$118.5M+282.7%	$31.0M+682.9%	$4.0M	N/A	$6.9M	N/A

Metric	Q1'266-K	Q3'256-K	Q1'2510-Q	Q3'2410-K	Q3'2310-K	Q1'2310-Q	Q3'2210-K	Q3'2110-K

Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.

CMBT Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

CMBT quarterly financial ratios

Metric	FY2520-F	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Net Margin	8.3%-84.3pp	92.6%+23.2pp	69.5%+45.7pp	23.8%+104.5pp	-80.7%-119.8pp	39.1%+26.8pp	12.3%+30.6pp	-18.3%-18.6pp	0.3%-29.6pp	29.8%-11.6pp	41.4%
Return on Equity	5.3%-67.7pp	73.0%+36.6pp	36.4%+27.0pp	9.3%+26.6pp	-17.3%-37.8pp	20.5%+15.6pp	4.9%+9.7pp	-4.9%-4.9pp	0.1%-10.7pp	10.8%-7.6pp	18.4%
Return on Assets	1.7%-20.6pp	22.3%-2.8pp	25.1%+20.0pp	5.1%+14.1pp	-9.0%-21.8pp	12.8%+10.1pp	2.7%+5.4pp	-2.7%-2.7pp	0.1%-6.7pp	6.7%	N/A
Current Ratio	0.86-0.3x	1.20-2.6x	3.84+1.5x	2.39+1.0x	1.43-0.8x	2.22-0.3x	2.54+0.7x	1.820.0x	1.77-0.2x	1.97	N/A
Debt-to-Equity	0.000.0x	0.000.0x	0.000.0x	0.000.0x	0.010.0x	0.010.0x	0.02-0.8x	0.83+0.3x	0.49-0.1x	0.570.0x	0.55
Asset Turnover	0.200.0x	0.24-0.1x	0.36+0.1x	0.22+0.1x	0.11-0.2x	0.33+0.1x	0.22+0.1x	0.150.0x	0.180.0x	0.22	N/A
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	25.3%	N/A	N/A	N/A	N/A

Metric	Q1'266-K	Q3'256-K	Q1'2510-Q	Q3'2410-K	Q3'2310-K	Q1'2310-Q	Q3'2210-K	Q3'2110-K
Current Ratio	0.92-0.5x	1.20-2.6x	1.37	3.84+1.5x	2.39+1.0x	2.09	1.43-0.8x	2.22-0.3x
Debt-to-Equity	0.000.0x	0.000.0x	0.00	0.000.0x	0.000.0x	0.01	0.010.0x	0.010.0x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.

Note: The current ratio is below 1.0 (0.86), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
CMB.TECH NV CMBT	FY2025	$1.7B	$139.1M	8.3%	$5.3B	—
Scorpio Tankers Inc. STNG	FY2025	$938.2M	$344.3M	36.7%	$4.0B	32/100
Excelerate Energy, Inc. EE	FY2025	$1.2B	$167.0M	13.6%	$1.0B	52/100
Kinetik Holdings Inc. KNTK	FY2025	$1.8B	$525.9M	29.8%	$8.9B	47/100
International Seaways, Inc. INSW	FY2025	$843.3M	$309.3M	36.7%	$5.2B	50/100
TORM plc TRMD	FY2025	$1.3B	$286.0M	21.3%	$3.9B	37/100

Where CMB.TECH NV Ranks

Frequently Asked Questions

What is CMB.TECH NV's annual revenue?

CMB.TECH NV (CMBT) reported $1.7B in total revenue for fiscal year 2025. This represents a 77.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is CMB.TECH NV's revenue growing?

CMB.TECH NV (CMBT) revenue grew by 77.2% year-over-year, from $940.2M to $1.7B in fiscal year 2025.

Is CMB.TECH NV profitable?

Yes, CMB.TECH NV (CMBT) reported a net income of $139.1M in fiscal year 2025, with a net profit margin of 8.3%.

How much debt does CMB.TECH NV have?

As of fiscal year 2025, CMB.TECH NV (CMBT) had $146.5M in cash and equivalents against $3.4M in long-term debt.

What is CMB.TECH NV's net profit margin?

CMB.TECH NV (CMBT) had a net profit margin of 8.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is CMB.TECH NV's return on equity (ROE)?

CMB.TECH NV (CMBT) has a return on equity of 5.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is CMB.TECH NV's operating cash flow?

CMB.TECH NV (CMBT) generated $443.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are CMB.TECH NV's total assets?

CMB.TECH NV (CMBT) had $8.4B in total assets as of fiscal year 2025, including both current and long-term assets.

Does CMB.TECH NV buy back shares?

Yes, CMB.TECH NV (CMBT) spent $126.9M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does CMB.TECH NV have outstanding?

CMB.TECH NV (CMBT) had 316M shares outstanding as of fiscal year 2025.

What is CMB.TECH NV's current ratio?

CMB.TECH NV (CMBT) had a current ratio of 0.86 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is CMB.TECH NV's debt-to-equity ratio?

CMB.TECH NV (CMBT) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is CMB.TECH NV's return on assets (ROA)?

CMB.TECH NV (CMBT) had a return on assets of 1.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is CMB.TECH NV's P/E ratio?

CMB.TECH NV (CMBT) trades at 38.2x earnings, its market capitalization divided by net income of $139.1M net income, FY2025. The market capitalization is $5.3B as of Oct 21, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is CMB.TECH NV's price-to-sales ratio?

CMB.TECH NV (CMBT) trades at 3.2x sales, its market capitalization divided by revenue of $1.7B revenue, FY2025. The market capitalization is $5.3B as of Oct 21, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is CMB.TECH NV's Piotroski F-Score?

CMB.TECH NV (CMBT) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are CMB.TECH NV's earnings high quality?

CMB.TECH NV (CMBT) has an earnings quality ratio of 3.19x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.