NYSE : CMBT
Cmb.Tech NV — Financial statements
Energy · Oil & Gas Midstream · Belgium
Last price 18.42 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 5.32B
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Financial statements
Cmb.Tech NV (CMBT) reported revenue of 2.27B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 2.27B | 1.67B | 940.25M | 1.24B | 854.67M | 419.77M |
| Cost of Revenue | 998.09M | 795.95M | 377.83M | 377.62M | 397.05M | 349.26M |
| Gross Profit | 1.27B | 870.13M | 562.42M | 857.50M | 457.62M | 70.51M |
| Selling, General & Admin | 141.68M | 139.48M | 75.56M | 58.95M | 47.36M | 29.06M |
| Amortization of Goodwill & Intangibles | 3.11M | 3.28M | 2.88M | 1.61M | 1.02M | 90.00K |
| Other Operating Expenses | -44.20M | -27.26M | -48.45M | -19.73M | -10.80M | -6.91M |
| Operating Expenses | 539.08M | 500.19M | 193.13M | 260.26M | 259.16M | 367.15M |
| Operating Income | 729.63M | 369.94M | 369.28M | 597.25M | 198.46M | -296.64M |
| Interest Expense | -388.57M | -382.23M | -145.84M | -132.86M | -87.16M | -60.42M |
| Interest & Investment Income | 12.50M | 11.89M | 16.95M | 20.62M | 7.06M | 1.90M |
| Earnings From Equity Investments | 19.04M | -882.00K | 920.00K | -927.00K | 17.65M | 22.98M |
| Currency Exchange Gain (Loss) | 9.55M | -22.30M | 7.49M | 344.00K | 416.00K | -523.00K |
| Other Non Operating Income (Expenses) | -15.85M | -14.30M | -9.25M | 7.17M | -26.19M | -21.56M |
| EBT Excluding Unusual Items | 366.31M | -37.88M | 239.55M | 491.59M | 110.24M | -354.27M |
| Gain (Loss) on Sale of Assets | 483.64M | 192.56M | 635.02M | 372.44M | 95.81M | 15.07M |
| Asset Writedown | -1.05M | -5.35M | -1.85M | |||
| Pretax Income | 848.90M | 149.33M | 872.72M | 864.04M | 206.06M | -339.20M |
| Income Tax Expense | 9.33M | 10.19M | 1.89M | 6.01M | 2.80M | -427.00K |
| Earnings From Continuing Operations | 839.57M | 139.14M | 870.83M | 858.03M | 203.25M | -338.78M |
| Minority Interest in Earnings | 2.58M | 21.55M | ||||
| Net Income | 842.14M | 160.70M | 870.83M | 858.03M | 203.25M | -338.78M |
| Net Income to Common | 842.14M | 160.70M | 870.83M | 858.03M | 203.25M | -338.78M |
| Shares Outstanding (Basic) | 277.42M | 229.44M | 196.04M | 201.90M | 201.75M | 201.68M |
| Shares Outstanding (Diluted) | 277.42M | 229.44M | 196.04M | 201.90M | 201.99M | 201.77M |
| EPS (Basic) | 3.04 | 0.70 | 4.44 | 4.25 | 1.01 | -1.68 |
| EPS (Diluted) | 3.04 | 0.70 | 4.44 | 4.25 | 1.01 | -1.68 |
| Free Cash Flow | -508.23M | -586.27M | -661.91M | 498.78M | -268.11M | -438.51M |
| Free Cash Flow Per Share | -1.83 | -2.56 | -3.38 | 2.47 | -1.33 | -2.17 |
| Dividend Per Share | 0.41 | 0.26 | 2.34 | 0.17 | 0.12 | |
| Gross Margin | 55.97% | 52.23% | 59.82% | 69.43% | 53.54% | 16.80% |
| Operating Margin | 32.19% | 22.20% | 39.27% | 48.35% | 23.22% | -70.67% |
| Profit Margin | 37.15% | 9.64% | 92.62% | 69.47% | 23.78% | -80.70% |
| Free Cash Flow Margin | -22.42% | -35.19% | -70.40% | 40.38% | -31.37% | -104.46% |
| EBITDA | 1.16B | 748.66M | 533.90M | 800.25M | 399.55M | 966.00K |
| EBITDA Margin | 51.23% | 44.94% | 56.78% | 64.79% | 46.75% | 0.23% |
| D&A For EBITDA | 431.63M | 378.72M | 164.62M | 203.00M | 201.09M | 297.61M |
| EBIT | 729.63M | 369.94M | 369.28M | 597.25M | 198.46M | -296.64M |
| EBIT Margin | 32.19% | 22.20% | 39.27% | 48.35% | 23.22% | -70.67% |
| Effective Tax Rate | 1.10% | 6.82% | 0.22% | 0.69% | 1.36% | |
| Revenue as Reported | 2.80B | 1.89B | 1.63B | 1.63B | 965.97M | 445.09M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 151.57M | 146.53M | 38.87M | 429.37M | 179.93M | 152.53M |
| Cash & Short-Term Investments | 159.84M | 146.53M | 38.87M | 429.37M | 179.93M | 152.53M |
| Accounts Receivable | 296.15M | 182.56M | 175.66M | 259.47M | 302.62M | 197.47M |
| Other Receivables | 63.44M | 75.39M | 17.15M | 27.34M | 26.57M | 17.14M |
| Receivables | 359.59M | 257.95M | 192.80M | 286.81M | 329.18M | 214.60M |
| Inventory | 120.67M | 77.17M | 26.50M | 22.51M | 41.64M | 69.03M |
| Other Current Assets | 278.92M | 430.90M | 212.65M | 893.04M | 56.30M | 23.24M |
| Total Current Assets | 919.02M | 912.56M | 470.82M | 1.63B | 607.06M | 459.41M |
| Property, Plant & Equipment | 7.46B | 7.09B | 3.27B | 1.77B | 3.31B | 3.18B |
| Long-Term Investments | 154.22M | 111.35M | 61.81M | 519.00K | 1.42M | 72.45M |
| Goodwill | 177.02M | 177.02M | ||||
| Other Intangible Assets | 16.05M | 12.71M | 16.19M | 14.19M | 15.75M | 186.00K |
| Long-Term Accounts Receivable | 1.26M | 2.85M | 4.58M | |||
| Long-Term Deferred Tax Assets | 2.54M | 2.85M | 10.07M | 280.00K | 1.40M | 1.55M |
| Other Long-Term Assets | 76.89M | 77.97M | 60.55M | 1.62M | 31.95M | 20.82M |
| Total Assets | 8.83B | 8.41B | 3.91B | 3.42B | 3.97B | 3.77B |
| Accounts Payable | 87.21M | 79.94M | 22.30M | 42.03M | 24.70M | 26.01M |
| Accrued Expenses | 63.53M | 43.15M | 27.49M | 46.62M | 46.24M | 46.75M |
| Short-Term Debt | 180.98M | 273.90M | 95.72M | 92.30M | 65.85M | 117.86M |
| Current Portion of Long-Term Debt | 398.70M | 554.46M | 205.67M | 169.86M | 68.94M | 96.34M |
| Current Portion of Leases | 1.59M | 1.68M | 2.29M | 33.49M | 22.86M | 22.29M |
| Current Income Taxes Payable | 2.81M | 8.29M | 9.10M | 4.77M | 5.93M | 366.00K |
| Current Unearned Revenue | 77.52M | 78.73M | 27.37M | 17.36M | 17.54M | 7.54M |
| Other Current Liabilities | 6.89M | 20.67M | 2.71M | 18.33M | 2.28M | 3.87M |
| Total Current Liabilities | 819.23M | 1.06B | 392.66M | 424.75M | 254.34M | 321.03M |
| Long-Term Debt | 4.87B | 4.72B | 2.32B | 631.85M | 1.53B | 1.46B |
| Long-Term Leases | 4.01M | 3.37M | 1.45M | 3.36M | 5.82M | 16.76M |
| Long-Term Unearned Revenue | 503.00K | |||||
| Pension & Post-Retirement Benefits | 1.18M | 1.18M | 1.06M | 1.67M | 1.64M | 6.84M |
| Long-Term Deferred Tax Liabilities | 26.00K | 485.00K | 438.00K | |||
| Other Long-Term Liabilities | 15.07M | 274.00K | 597.00K | 892.00K | ||
| Total Liabilities | 5.71B | 5.78B | 2.71B | 1.06B | 1.80B | 1.81B |
| Common Stock | 343.44M | 343.44M | 239.15M | 239.15M | 239.15M | 239.15M |
| Additional Paid-In Capital | 1.69B | 1.82B | 460.49M | 1.47B | 1.68B | 1.70B |
| Retained Earnings | 1.37B | 737.24M | 777.10M | 807.92M | 385.98M | 180.14M |
| Treasury Stock | -284.51M | -284.51M | -284.51M | -157.59M | -163.02M | -164.10M |
| Comprehensive Income & Other | 6.19M | 9.59M | 100.00K | 1.38M | 33.03M | 2.85M |
| Shareholders' Equity | 3.12B | 2.62B | 1.19B | 2.36B | 2.17B | 1.96B |
| Total Liabilities & Equity | 8.83B | 8.41B | 3.91B | 3.42B | 3.97B | 3.77B |
| Total Debt | 5.45B | 5.55B | 2.62B | 930.86M | 1.70B | 1.72B |
| Net Cash (Debt) | -5.29B | -5.40B | -2.58B | -501.49M | -1.52B | -1.56B |
| Net Cash Per Share | -19.08 | -23.55 | -13.18 | -2.48 | -7.51 | -7.74 |
| Filing Date Shares Outstanding | 290.17M | 290.17M | 194.22M | 202.23M | 201.78M | 201.68M |
| Total Common Shares Outstanding | 290.17M | 290.17M | 194.22M | 202.23M | 201.78M | 201.68M |
| Working Capital | 99.79M | -148.26M | 78.16M | 1.21B | 352.72M | 138.37M |
| Book Value Per Share | 10.76 | 9.04 | 6.14 | 11.66 | 10.77 | 9.72 |
| Tangible Book Value | 2.93B | 2.43B | 1.18B | 2.34B | 2.16B | 1.96B |
| Tangible Book Value Per Share | 10.09 | 8.39 | 6.06 | 11.59 | 10.69 | 9.72 |
| Machinery | 8.37B | 7.76B | 4.02B | 3.27B | 5.01B | 4.88B |
| Construction In Progress | 532.66M | 738.30M | 628.40M | 106.51M | 228.43M | 181.29M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 842.14M | 160.70M | 870.83M | 858.03M | 203.25M | -338.78M |
| Depreciation & Amortization | 441.60M | 387.97M | 166.03M | 221.04M | 222.60M | 344.99M |
| Loss (Gain) From Sale of Assets | -483.64M | -192.56M | -654.72M | -372.44M | -95.81M | -15.07M |
| Asset Writedown & Restructuring Costs | 1.05M | 5.35M | 1.85M | |||
| Loss (Gain) From Sale of Investments | 3.41M | 3.41M | -37.00K | 507.00K | 78.00K | |
| Loss (Gain) on Equity Investments | -18.83M | 882.00K | -920.00K | 927.00K | -17.65M | -22.98M |
| Other Operating Activities | 34.26M | 70.53M | 35.65M | 23.99M | 25.39M | 26.95M |
| Change in Accounts Receivable | 8.57M | 68.86M | 99.25M | 44.20M | -110.14M | -21.41M |
| Change in Inventory | -48.90M | -13.26M | 5.20M | 19.13M | 27.39M | 6.75M |
| Change in Accounts Payable | 3.98M | 34.69M | -14.87M | 17.34M | -1.32M | -1.22M |
| Change in Unearned Revenue | 7.20M | 19.28M | 6.60M | -187.00K | 10.00M | -5.59M |
| Change in Other Net Operating Assets | -3.10M | -102.30M | -56.87M | 25.40M | -8.66M | 975.00K |
| Operating Cash Flow | 787.73M | 443.54M | 458.01M | 837.38M | 255.55M | -25.30M |
| Capital Expenditures | -1.30B | -1.03B | -1.12B | -338.60M | -523.66M | -413.20M |
| Sale of Property, Plant & Equipment | 1.04B | 510.68M | 1.72B | 1.21B | 356.73M | 55.84M |
| Cash Acquisitions | -34.80M | -1.10B | -1.15B | |||
| Divestitures | 2.99M | 822.00K | ||||
| Sale (Purchase) of Intangibles | -4.19M | -1.50M | -1.54M | -60.00K | -16.58M | -115.00K |
| Investment in Securities | -8.27M | -45.00M | ||||
| Other Investing Activities | -13.98M | 6.47M | -83.36M | 22.63M | 2.24M | |
| Investing Cash Flow | -313.24M | -1.61B | -679.18M | 869.68M | -158.84M | -353.25M |
| Long-Term Debt Issued | 6.47B | 2.72B | 2.69B | 1.27B | 1.51B | |
| Short-Term Debt Repaid | -221.30M | -357.17M | -458.27M | -303.43M | ||
| Long-Term Debt Repaid | -4.74B | -1.27B | -3.05B | -1.30B | -803.63M | |
| Lease Payments | -636.93M | -501.30M | -88.18M | -117.95M | -48.19M | -77.59M |
| Total Debt Repaid | -5.61B | -4.96B | -1.62B | -3.51B | -1.30B | -1.11B |
| Net Debt Issued (Repaid) | -154.06M | 1.51B | 1.10B | -815.82M | -33.88M | 402.53M |
| Issuance of Common Stock | 1.08M | |||||
| Repurchase of Common Stock | -126.91M | |||||
| Common Dividends Paid | -261.41M | -20.16M | -1.13B | -630.54M | -24.22M | -24.21M |
| Other Financing Activities | -59.82M | -211.46M | -19.22M | -14.53M | -5.87M | -4.42M |
| Financing Cash Flow | -475.29M | 1.28B | -172.97M | -1.46B | -62.90M | 373.89M |
| Foreign Exchange Rate Adjustments | -2.67M | -1.79M | 3.64M | 3.27M | -6.41M | -4.29M |
| Net Cash Flow | -3.47M | 107.66M | -390.50M | 249.44M | 27.40M | -8.95M |
| Free Cash Flow | -508.23M | -586.27M | -661.91M | 498.78M | -268.11M | -438.51M |
| Free Cash Flow Margin | -22.42% | -35.19% | -70.40% | 40.38% | -31.37% | -104.46% |
| Free Cash Flow Per Share | -1.83 | -2.56 | -3.38 | 2.47 | -1.33 | -2.17 |
| Levered Free Cash Flow | -808.42M | -843.29M | -85.51M | -566.26M | -356.74M | -308.13M |
| Unlevered Free Cash Flow | -565.56M | -604.40M | 5.64M | -483.22M | -302.27M | -270.37M |
| Free Cash Flow After Leases | -1.15B | -1.09B | -750.09M | 380.83M | -316.30M | -516.10M |
| Cash Interest Paid | 343.09M | 323.12M | 109.14M | 130.38M | 99.74M | 61.00M |
| Cash Income Tax Paid | 8.43M | 4.66M | 4.55M | 6.67M | -2.76M | -12.00K |
| Change in Working Capital | -32.25M | 7.26M | 39.31M | 105.88M | -82.73M | -20.50M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 5.06B | 2.76B | 1.97B | 3.56B | 3.38B | 1.79B |
| Enterprise Value | 10.23B | 8.30B | 4.15B | 5.27B | 5.30B | 3.41B |
| Last Close Price | 18.42 | 8.88 | 9.10 | 12.08 | 9.95 | 5.15 |
| PE Ratio | 5.88 | 17.19 | 2.27 | 4.15 | 16.65 | |
| PS Ratio | 2.35 | 1.66 | 2.10 | 2.89 | 3.96 | 4.26 |
| PB Ratio | 1.70 | 1.05 | 1.65 | 1.51 | 1.56 | 0.91 |
| P/TBV Ratio | 1.82 | 1.14 | 1.68 | 1.52 | 1.57 | 0.91 |
| P/FCF Ratio | 7.15 | |||||
| P/OCF Ratio | 6.75 | 6.23 | 4.31 | 4.26 | 13.24 | |
| EV/Sales Ratio | 4.63 | 4.98 | 4.42 | 4.27 | 6.20 | 8.13 |
| EV/EBITDA Ratio | 9.04 | 11.09 | 7.78 | 6.58 | 13.27 | 3,531.94 |
| EV/EBIT Ratio | 14.38 | 22.44 | 11.25 | 8.82 | 26.72 | |
| EV/FCF Ratio | 10.56 | |||||
| Debt / Equity Ratio | 1.75 | 2.12 | 2.20 | 0.40 | 0.78 | 0.88 |
| Debt / EBITDA Ratio | 4.67 | 7.32 | 4.90 | 1.14 | 4.03 | 35.47 |
| Debt / FCF Ratio | 1.87 | |||||
| Net Debt / Equity Ratio | 1.70 | 2.06 | 2.17 | 0.21 | 0.70 | 0.80 |
| Net Debt / EBITDA Ratio | 4.56 | 7.22 | 4.84 | 0.63 | 3.80 | 1,617.64 |
| Net Debt / FCF Ratio | -10.41 | -9.22 | -3.90 | 1.00 | -5.66 | -3.56 |
| Asset Turnover | 0.26 | 0.27 | 0.26 | 0.33 | 0.22 | 0.11 |
| Inventory Turnover | 11.15 | 15.36 | 15.42 | 11.77 | 7.17 | 4.82 |
| Quick Ratio | 0.63 | 0.38 | 0.59 | 1.69 | 2.00 | 1.14 |
| Current Ratio | 1.12 | 0.86 | 1.20 | 3.84 | 2.39 | 1.43 |
| Return on Equity (ROE) | 29.59% | 7.29% | 49.06% | 37.88% | 9.83% | -15.86% |
| Return on Assets (ROA) | 5.29% | 3.76% | 6.30% | 10.11% | 3.21% | -4.97% |
| Return on Invested Capital (ROIC) | 8.80% | 5.84% | 11.11% | 18.11% | 5.43% | -8.53% |
| Return on Capital Employed (ROCE) | 9.10% | 5.00% | 10.50% | 19.90% | 5.30% | -8.60% |
| Earnings Yield | 17.01% | 5.82% | 44.15% | 24.07% | 6.01% | -18.94% |
| FCF Yield | -9.55% | -21.22% | -33.56% | 13.99% | -7.92% | -24.51% |
| Dividend Yield | 7.44% | 2.73% | 13.28% | 1.02% | 1.35% | |
| Payout Ratio | 43.98% | 12.54% | 129.38% | 73.49% | 11.92% | |
| Buyback Yield / Dilution | -42.85% | -17.04% | 2.90% | 0.05% | -0.11% | 4.01% |
| Total Shareholder Return | -35.51% | -14.31% | 2.90% | 13.32% | 0.91% | 5.37% |