MARKETS / NYSE / Industrials / Water transportation / SFL

NYSE · DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT · LARGE CAP

SFL Corp. Ltd. SFL

18 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$733.0M

▼ 18.9% YoY

Net income

$-26.4M

▼ 120.2% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

SFL Corporation Ltd. is primarily engaged in the ownership, operation and chartering of vessels and off-shore related assets on medium- and long-term charters. The company presently has over 10 customers, none of which are related parties. Its customers include, among others, Maersk, MSC, ConocoPhillips Skandinavia AS, Phillips 66 Company, Volkswagen Konzernlogistik Gmbh Co. OHG, Kawasaki Kisen Kaisha Ltd., Trafigura Maritime Logistics Pte Ltd, Hapag-Lloyd AG, Eukor, Vitol International Shipping Pte. Ltd, and Stolt Tankers. Its vessels and rigs are flagged in Liberia, the Marshall Islands, Cyprus, Hong Kong, and Norway. Its asset base consists of crude oil tankers, oil product tankers, chemical tankers, container vessels, car carriers, dry bulk carriers, a jack-up drilling rig, and an ultra-deepwater drilling rig.

Written from the business description in SFL Corp Ltd.'s annual report to the U.S. Securities and Exchange Commission, filed 16 March 2026. Every sentence was checked against that document before publication.

Growth

USD 733.0M

Revenue, FY2025 · full 18-year series below

Revenue $M Net income $M

FY2025 · Revenue 733.0 · Net income -26.4

400M800M-100M-200M

2008201120142017202020232025

Compound annual growth

Revenue

+3.0%

+9.2%

+6.1%

+5.9%

Dividend / share

+2.2%

Returned to shareholders

+6.6%

+4.3%

−1.8%

+1.0%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +9.2% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

−4 cents

lost on every revenue dollar

Operating margin Net margin

FY2025 · Operating 18.6% · Net -3.6%

20%40%60%-20%-40%

200820162025

ROE

FY2025 · ROE -2.5%

10%20%30%-10%-20%

200820162025

Three returns, three denominators.

Return on equity-2.5%

Return on assets-0.7%

Return on capital employed4.4%

Gross margin·

Operating margin18.6%

Net margin-3.6%

EBITDAUSD 371.7M

Each USD of equity lost 3 cents this year.

Cash & shareholders

USD 135.1M

returned in FY2025 · dividends + net buybacks

Net buybacks $M Dividends $M

FY2025 · Dividends 125.1 · Net buybacks 10.0

100M200M-40M-80MDividendsNet buybacks

2008201120142017202020232025

Dividends paidUSD 125.1M

Net buybacksUSD 10.0M

Share of profit-511.3%

Consecutive raises·

USD 125.1M in dividends and USD 10.0M in buybacks went back to shareholders in a year without profit.

Total assetsUSD 3.6B

EquityUSD 960.9M

CashUSD 150.8M

Gross debtUSD 2.6B

Net debtUSD 2.4B

Current ratio0.36×

Net debt stands at 251% of equity.

The 18-year record

18 fiscal years

Every figure from documents filed with the SEC · USD

row low → row highnegative—not applicable◌not available in our data

SFL, 18-year financial record
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Revenue $B	0.7	0.9	0.8	0.7	0.5	0.5	0.5	0.4	0.4	0.4	0.4	0.3	0.3	0.3	0.3	0.3	0.3	0.5
Operating income $B	0.1	0.3	0.2	0.3	0.2	−0.1	0.1	0.1	0.2	0.2	0.2	0.1	0.1	0.2	0.2	0.2	0.2	0.3
EBITDA $B	0.4	0.5	0.5	0.5	0.4	−0.0	0.3	0.2	0.2	0.3	0.2	0.2	0.2	0.3	0.2	0.2	0.2	0.4
Income tax $B	0.0	0.0	0.0	0.0	0.0	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌
Net income $B	−0.0	0.1	0.1	0.2	0.2	−0.2	0.1	0.1	0.1	0.1	0.2	0.1	0.1	0.2	0.1	0.2	0.2	0.2
EPS, diluted $	−0.20	1.01	0.66	1.53	1.30	−2.06	0.83	0.69	1.03	1.50	1.88	1.24	0.99	2.22	1.62	2.09	2.59	2.50
Dividend / sh $	0.94	1.07	0.97	0.88	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌
Payout %	−473	106	147	55	47	−49	169	203	151	115	81	124	122	82	93	71	39	68
ROE %	−2.5	12.1	7.9	19.6	18.5	−23.6	7.8	6.2	8.7	12.3	16.8	10.5	8.2	20.1	15.6	21.0	30.4	35.1
Shares out B	0.14	0.15	0.14	0.14	0.14	0.13	0.12	0.12	0.11	0.10	0.09	0.09	0.09	0.09	0.08	0.08	◌	◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

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Provenance

Company facts, as filed

How we verify · 0 failures in 69 reconciliationsAUDITED

Reconciled in 18 of the 18 fiscal years we could check. Four checks were skipped: the balance sheet is not tagged before 2009. Two checks were skipped: the share count is not tagged before 2009.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures

ActivityDeep Sea Foreign Transportation of Freight

Listed onNYSE

Incorporated innot stated in the filings

Fiscal year endsnot stated in the filings

Data on record since2008