Sfl Corporation Ltd Financials
Sfl Corporation Ltd (SFL) reported $733.0M in revenue for fiscal year 2025, down 18.9% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
SFL’s asset-heavy cash engine still throws off cash, but a large interest burden now overwhelms reported earnings.
In FY2025, cash earnings and accounting earnings split apart: operating cash flow was$267.1M even though net income was-$26.4M . Depreciation of$235.0M kept cash generation positive, but interest expense of$180.5M still outran operating profit, so the strain came from financing costs more than from the assets failing to produce cash.
The balance sheet has been run with a thin short-term cushion: the FY2025 current ratio was 0.4x and debt-to-equity reached 2.0x. That pairing means near-term obligations are not backed by many current assets, so this business depends on recurring operating cash and ongoing access to financing rather than a large liquidity buffer.
FY2025 also looks like a retrenchment year: total assets fell from
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Sfl Corporation Ltd's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Sfl Corporation Ltd has an operating margin of 18.6%, meaning the company retains $19 of operating profit per $100 of revenue. This strong profitability earns a score of 85/100, reflecting efficient cost management and pricing power. This is down from 33.9% the prior year.
Sfl Corporation Ltd's revenue declined 18.9% year-over-year, from $904.4M to $733.0M. This contraction results in a growth score of 28/100.
Sfl Corporation Ltd has elevated debt relative to equity (D/E of 2.04), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 11/100, reflecting increased financial risk.
Sfl Corporation Ltd's current ratio of 0.36 is below the typical benchmark, resulting in a score of 3/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Not available for Sfl Corporation Ltd, and counted as zero in the overall score.
Sfl Corporation Ltd posts a -2.8% return on equity (ROE), meaning it loses $3 for every $100 of shareholders' equity. This results in a returns score of 63/100. This is down from 11.6% the prior year.
Sfl Corporation Ltd scores 0.53, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($1.6B) relative to total liabilities ($2.7B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Sfl Corporation Ltd passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
Sfl Corporation Ltd reported a net loss of $26.4M while generating $267.1M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Sfl Corporation Ltd earns $0.76 in operating income for every $1 of interest expense ($136.7M vs $180.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Sfl Corporation Ltd generated $733.0M in revenue in fiscal year 2025. This represents a decrease of 18.9% from the prior year.
Sfl Corporation Ltd's EBITDA was $371.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 31.9% from the prior year.
Sfl Corporation Ltd reported -$26.4M in net income in fiscal year 2025. This represents a decrease of 120.2% from the prior year.
Sfl Corporation Ltd earned -$0.20 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 119.8% from the prior year.
Cash & Balance Sheet
Sfl Corporation Ltd held $150.8M in cash against $2.0B in long-term debt as of fiscal year 2025.
Sfl Corporation Ltd paid $0.94 per share in dividends in fiscal year 2025. This represents a decrease of 12.1% from the prior year.
Not reported for fiscal year 2025.
Margins & Returns
Sfl Corporation Ltd's operating margin was 18.6% in fiscal year 2025, reflecting core business profitability. This is down 15.3 percentage points from the prior year.
Sfl Corporation Ltd's net profit margin was -3.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 18.1 percentage points from the prior year.
Sfl Corporation Ltd's ROE was -2.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 14.3 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
Sfl Corporation Ltd spent $10.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
SFL Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $733.0M-18.9% | $904.4M+20.2% | $752.3M+12.2% | $670.4M+30.6% | $513.4M+9.0% | $471.0M+2.7% | $458.8M+9.6% | $418.7M+9.9% | $380.9M-7.8% | $413.0M+1.5% | $406.7M+24.2% | $327.5M+20.9% | $270.9M-15.3% | $319.7M+8.3% | $295.1M |
| Operating Income | $136.7M-55.4% | $306.7M+27.7% | $240.2M-12.8% | $275.5M+13.4% | $242.8M+275.7% | -$138.2M-200.3% | $137.8M+17.1% | $117.6M-23.9% | $154.6M-8.0% | $168.1M+1.2% | $166.0M+14.4% | $145.1M+23.7% | $117.4M-43.5% | $207.6M+27.6% | $162.7M |
| Interest Expense | $180.5M-1.3% | $183.0M+9.6% | $167.0M+42.3% | $117.3M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $1.9M-82.3% | $10.6M+219.9% | $3.3M | $0 | $0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$26.4M-120.2% | $130.7M+55.7% | $83.9M-58.6% | $202.8M+23.4% | $164.3M+173.2% | -$224.4M-351.7% | $89.2M+21.1% | $73.6M-27.3% | $101.2M-30.9% | $146.4M-27.1% | $200.8M+63.5% | $122.8M+37.7% | $89.2M-52.0% | $185.8M+41.7% | $131.2M |
| EPS (Diluted) | -$0.20-119.8% | $1.01+53.0% | $0.66-56.9% | $1.53+17.7% | $1.30+163.1% | -$2.06-348.2% | $0.83+20.3% | $0.69-33.0% | $1.03-31.3% | $1.50-20.2% | $1.88+51.6% | $1.24+25.3% | $0.99-55.4% | $2.22+37.0% | $1.62 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses.
SFL Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.6B-11.4% | $4.1B+10.1% | $3.7B-3.4% | $3.9B+11.6% | $3.5B+11.8% | $3.1B-20.4% | $3.9B+0.2% | $3.9B+28.7% | $3.0B+2.5% | $2.9B-3.1% | $3.0B-0.3% | $3.0B-0.1% | $3.0B+2.5% | $3.0B+2.7% | $2.9B |
| Current Assets | $259.2M-18.0% | $316.0M+6.0% | $298.1M+0.4% | $297.0M+18.6% | $250.3M-29.8% | $356.4M-8.7% | $390.5M-5.6% | $413.6M+30.2% | $317.7M+14.1% | $278.4M-25.9% | $375.9M+10.5% | $340.2M+16.4% | $292.2M+20.4% | $242.6M+25.9% | $192.8M |
| Cash & Equivalents | $150.8M+12.1% | $134.6M-18.7% | $165.5M-12.1% | $188.4M+29.3% | $145.6M-32.4% | $215.4M+8.0% | $199.5M-5.6% | $211.4M+38.1% | $153.1M+145.3% | $62.4M-11.1% | $70.2M+38.1% | $50.8M-13.3% | $58.6M-3.1% | $60.5M-36.2% | $94.9M |
| Inventory | $13.8M-20.7% | $17.4M+48.2% | $11.7M-28.5% | $16.4M+61.9% | $10.1M+14.9% | $8.8M+11.0% | $7.9M-7.2% | $8.5M+66.7% | $5.1M+0.8% | $5.1M+0.5% | $5.1M-27.0% | $6.9M+4.8% | $6.6M+123.9% | $3.0M+140.3% | $1.2M |
| Accounts Receivable | $11.6M-68.6% | $36.8M-10.6% | $41.2M+105.9% | $20.0M+79.7% | $11.1M+67.0% | $6.7M+45.5% | $4.6M+54.0% | $3.0M-76.3% | $12.6M+254.6% | $3.5M+72.5% | $2.1M-36.8% | $3.3M-61.1% | $8.4M+4.6% | $8.0M+3708.1% | $210K |
| Total Liabilities | $2.7B-10.1% | $3.0B+10.7% | $2.7B-2.8% | $2.8B+11.8% | $2.5B+7.8% | $2.3B-17.3% | $2.8B+3.0% | $2.7B+48.5% | $1.8B+0.8% | $1.8B+0.7% | $1.8B-5.2% | $1.9B+1.8% | $1.9B-6.3% | $2.0B-3.0% | $2.0B |
| Current Liabilities | $710.3M-14.2% | $827.9M-14.6% | $969.2M-8.3% | $1.1B+163.9% | $400.3M-30.6% | $576.5M+57.6% | $365.8M-9.5% | $404.1M+17.6% | $343.7M+43.8% | $239.0M0.0% | $239.0M+11.8% | $213.8M-50.6% | $432.4M+118.9% | $197.5M+13.4% | $174.1M |
| Long-Term Debt | $2.0B-8.8% | $2.2B+25.5% | $1.7B+33.9% | $1.3B-19.3% | $1.6B+36.3% | $1.2B-14.1% | $1.4B+15.8% | $1.2B-1.7% | $1.2B-13.6% | $1.4B-3.4% | $1.4B-8.0% | $1.6B+15.1% | $1.3B-19.5% | $1.7B-4.9% | $1.8B |
| Total Equity | $960.9M-14.8% | $1.1B+8.6% | $1.0B-4.8% | $1.1B+11.1% | $982.3M+23.5% | $795.7M-28.1% | $1.1B-6.2% | $1.2B-1.3% | $1.2B+5.4% | $1.1B-8.7% | $1.2B+7.7% | $1.2B-3.2% | $1.2B+19.8% | $994.8M+16.1% | $857.1M |
| Retained Earnings | -$26.4M | $0-100.0% | $960K-97.6% | $40.0M+143.2% | -$92.7M+63.9% | -$257.1M | $0-100.0% | $29.5M-85.5% | $203.9M-20.2% | $255.6M-7.9% | $277.5M+16.0% | $239.3M-10.9% | $268.6M-6.9% | $288.5M+13.3% | $254.7M |
Not reported in any period shown, so not listed: Goodwill.
SFL Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $267.1M-27.8% | $369.9M+7.8% | $343.1M-3.4% | $355.1M+21.0% | $293.6M+6.2% | $276.5M+10.7% | $249.7M+24.2% | $201.0M+13.0% | $177.8M-22.7% | $230.1M-11.0% | $258.4M+95.2% | $132.4M-5.5% | $140.1M+61.9% | $86.6M-47.1% | $163.7M |
| Investing Cash Flow | $188.1M+130.5% | -$617.5M-494.4% | -$103.9M+79.2% | -$499.1M-28.3% | -$389.1M-320.6% | $176.3M+203.8% | -$169.9M+80.4% | -$866.6M-1891.8% | $48.4M+22.7% | $39.4M+119.1% | -$205.8M-837.9% | -$21.9M+70.3% | -$74.0M-315.6% | $34.3M+685.3% | -$5.9M |
| Financing Cash Flow | -$439.0M-302.6% | $216.7M+182.7% | -$262.1M-246.9% | $178.4M+613.0% | $25.0M+105.8% | -$431.4M-383.6% | -$89.2M-112.3% | $724.9M+635.1% | -$135.5M+51.1% | -$277.3M-733.6% | -$33.3M+71.9% | -$118.3M-73.8% | -$68.0M+56.2% | -$155.3M-3.6% | -$149.9M |
| Dividends Paid | $125.1M-9.7% | $138.5M+12.6% | $123.0M+10.2% | $111.6M+43.9% | $77.6M-29.1% | $109.4M-27.4% | $150.7M+0.9% | $149.3M-2.4% | $152.9M-9.1% | $168.3M+3.5% | $162.6M+6.9% | $152.1M+39.4% | $109.1M-28.2% | $152.0M+23.9% | $122.6M |
| Share Buybacks | $10.0M | N/A | $10.2M | $0 | $0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.
SFL Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 18.6%-15.3pp | 33.9%+2.0pp | 31.9%-9.2pp | 41.1%-6.2pp | 47.3%+76.6pp | -29.3%-59.4pp | 30.0%+1.9pp | 28.1%-12.5pp | 40.6%-0.1pp | 40.7%-0.1pp | 40.8%-3.5pp | 44.3%+1.0pp | 43.3%-21.6pp | 64.9%+9.8pp | 55.1% |
| Net Margin | -3.6%-18.1pp | 14.4%+3.3pp | 11.2%-19.1pp | 30.3%-1.8pp | 32.0%+79.7pp | -47.6%-67.1pp | 19.4%+1.8pp | 17.6%-9.0pp | 26.6%-8.9pp | 35.4%-13.9pp | 49.4%+11.9pp | 37.5%+4.6pp | 32.9%-25.2pp | 58.1%+13.7pp | 44.5% |
| Return on Equity | -2.8%-14.3pp | 11.6%+3.5pp | 8.1%-10.5pp | 18.6%+1.8pp | 16.7%+44.9pp | -28.2%-36.3pp | 8.1%+1.8pp | 6.2%-2.2pp | 8.5%-4.4pp | 12.9%-3.3pp | 16.2%+5.5pp | 10.7%+3.2pp | 7.5%-11.2pp | 18.7%+3.4pp | 15.3% |
| Return on Assets | -0.7%-3.9pp | 3.2%+0.9pp | 2.3%-3.0pp | 5.3%+0.5pp | 4.8%+12.0pp | -7.3%-9.6pp | 2.3%+0.4pp | 1.9%-1.5pp | 3.4%-1.6pp | 5.0%-1.6pp | 6.6%+2.6pp | 4.0%+1.1pp | 2.9%-3.3pp | 6.3%+1.7pp | 4.5% |
| Current Ratio | 0.360.0x | 0.38+0.1x | 0.310.0x | 0.28-0.3x | 0.630.0x | 0.62-0.4x | 1.070.0x | 1.02+0.1x | 0.92-0.2x | 1.17-0.4x | 1.570.0x | 1.59+0.9x | 0.68-0.6x | 1.23+0.1x | 1.11 |
| Debt-to-Equity | 2.04+0.1x | 1.91+0.3x | 1.65+0.5x | 1.17-0.4x | 1.61+0.2x | 1.46+0.2x | 1.22+0.2x | 0.990.0x | 1.00-0.2x | 1.22+0.1x | 1.15-0.2x | 1.34+0.2x | 1.13-0.6x | 1.68-0.4x | 2.05 |
Not reported in any period shown, so not listed: Gross Margin, FCF Margin.
Note: The current ratio is below 1.0 (0.36), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Where Sfl Corporation Ltd Ranks
Frequently Asked Questions
What is Sfl Corporation Ltd's annual revenue?
Sfl Corporation Ltd (SFL) reported $733.0M in total revenue for fiscal year 2025. This represents a -18.9% 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 Sfl Corporation Ltd's revenue growing?
Sfl Corporation Ltd (SFL) revenue declined by 18.9% year-over-year, from $904.4M to $733.0M in fiscal year 2025.
Is Sfl Corporation Ltd profitable?
No, Sfl Corporation Ltd (SFL) reported a net income of -$26.4M in fiscal year 2025, with a net profit margin of -3.6%.
What is Sfl Corporation Ltd's EBITDA?
Sfl Corporation Ltd (SFL) had EBITDA of $371.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Sfl Corporation Ltd have?
As of fiscal year 2025, Sfl Corporation Ltd (SFL) had $150.8M in cash and equivalents against $2.0B in long-term debt.
What is Sfl Corporation Ltd's operating margin?
Sfl Corporation Ltd (SFL) had an operating margin of 18.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Sfl Corporation Ltd's net profit margin?
Sfl Corporation Ltd (SFL) had a net profit margin of -3.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Sfl Corporation Ltd pay dividends?
Yes, Sfl Corporation Ltd (SFL) paid $0.94 per share in dividends during fiscal year 2025.
What is Sfl Corporation Ltd's return on equity (ROE)?
Sfl Corporation Ltd (SFL) has a return on equity of -2.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Sfl Corporation Ltd's operating cash flow?
Sfl Corporation Ltd (SFL) generated $267.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Sfl Corporation Ltd's total assets?
Sfl Corporation Ltd (SFL) had $3.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Sfl Corporation Ltd's current ratio?
Sfl Corporation Ltd (SFL) had a current ratio of 0.36 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Sfl Corporation Ltd's debt-to-equity ratio?
Sfl Corporation Ltd (SFL) had a debt-to-equity ratio of 2.04 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Sfl Corporation Ltd's return on assets (ROA)?
Sfl Corporation Ltd (SFL) had a return on assets of -0.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Sfl Corporation Ltd's Altman Z-Score?
Sfl Corporation Ltd (SFL) has an Altman Z-Score of 0.53, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Sfl Corporation Ltd's Piotroski F-Score?
Sfl Corporation Ltd (SFL) 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 Sfl Corporation Ltd's earnings high quality?
Sfl Corporation Ltd (SFL) reported a net loss of $26.4M while generating $267.1M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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.
Can Sfl Corporation Ltd cover its interest payments?
Sfl Corporation Ltd (SFL) has an interest coverage ratio of 0.76x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Sfl Corporation Ltd?
Sfl Corporation Ltd (SFL) scores 32 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.