SFL Corporation Ltd. (SFL) Income Statement
SFL 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsSFL revenue and net income
Where SFL's revenue goes
2025Each bar shows an amount and its share of revenue. SFL kept −3.7% of revenue as net income.
SFL profit margins
SFL growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −19.3% | +3.2% | +12.4% | +5.9% |
| Gross profit | +35.2% | +16.7% | +25.6% | +7.2% |
| Operating income | −55.4% | −20.8% | — | −1.9% |
| Net income | −120.2% | — | — | — |
| EPS (diluted) | −85.1% | −53.9% | −36.5% | −24.1% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
SFL quarterly EPS vs estimates
SFL beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: November 11, 2026.
SFL income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $719.8M | $891.6M | $738.1M | $655.7M | $494.7M | $400.4M | $456.0M | $418.7M | $380.9M | $413.0M |
| Cost of revenue | $301.8M | $582.5M | $507.8M | $393.0M | $295.1M | $266.9M | $134.4M | $232.6M | $219.9M | $230.3M |
| Gross profit | $418.0M | $309.1M | $230.3M | $262.7M | $199.6M | $133.5M | $321.6M | $186.1M | $160.9M | $182.6M |
| Sales, general & admin | $18.3M | $20.6M | $15.6M | $15.2M | $13.0M | $11.4M | $10.2M | $9.2M | $7.4M | $9.1M |
| Total operating expenses | $281.3M | $2.4M | −$9.9M | −$12.8M | −$43.2M | $271.7M | $183.8M | $9.2M | $7.4M | $9.1M |
| Operating income | $136.7M | $306.7M | $240.2M | $275.5M | $242.8M | −$138.2M | $137.8M | $117.6M | $154.6M | $168.1M |
| Interest income | $14.8M | $20.4M | $17.4M | $64.4M | $7.5M | $13.4M | $30.0M | $41.2M | $43.2M | $20.1M |
| Interest expense | $165.7M | $183.0M | $164.9M | $117.3M | $90.4M | $135.4M | $145.1M | $113.9M | $90.4M | $71.8M |
| Income before taxes | −$24.5M | $141.3M | $87.3M | $202.8M | $164.3M | −$224.4M | $89.2M | $73.6M | $101.2M | $146.4M |
| Income taxes | $1.9M | $10.6M | $3.3M | $72.7M | $87.9M | $121.6M | $145.9M | $133.1M | $53.4M | $21.7M |
| Net income | −$26.4M | $130.7M | $83.9M | $202.8M | $164.3M | −$224.4M | $89.2M | $73.6M | $101.2M | $146.4M |
| EBITDA | $421.4M | $560.1M | $466.2M | $507.9M | $393.1M | $22.3M | $314.2M | $281.4M | $279.8M | $312.5M |
| EPS (diluted) | $0.15 | $1.01 | $0.64 | $1.53 | $1.02 | $1.45 | $1.35 | $0.97 | $1.05 | $1.80 |
| Gross margin | 58.1% | 34.7% | 31.2% | 40.1% | 40.4% | 33.3% | 70.5% | 44.4% | 42.3% | 44.2% |
| Operating margin | 19.0% | 34.4% | 32.5% | 42.0% | 49.1% | −34.5% | 30.2% | 28.1% | 40.6% | 40.7% |
| Net margin | −3.7% | 14.7% | 11.4% | 30.9% | 33.2% | −56.0% | 19.6% | 17.6% | 26.6% | 35.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $200.8M | $174.5M | $170.7M | $175.2M | $188.5M | $185.3M | $225.0M | $252.7M | $187.2M | $226.8M | $209.6M | $203.2M |
| Cost of revenue | $128.6M | $122.0M | $71.0M | $125.8M | $147.0M | $136.7M | $164.8M | $156.3M | $123.3M | $138.1M | $132.8M | $82.9M |
| Gross profit | $72.2M | $52.4M | $99.7M | $49.4M | $41.6M | $48.6M | $60.2M | $96.5M | $63.9M | $88.7M | $76.8M | $120.4M |
| Sales, general & admin | $6.9M | $7.6M | $4.7M | $3.9M | $4.4M | $5.3M | $4.8M | $4.9M | $5.4M | $5.5M | $3.8M | $3.3M |
| Total operating expenses | $6.9M | $7.6M | $67.9M | $677,000 | −$3.9M | $3.8M | −$4.7M | $2.3M | $1.6M | $3.2M | $3.8M | $55.0M |
| Operating income | $65.2M | $44.9M | $31.8M | $48.7M | $45.5M | $44.8M | $64.9M | $94.1M | $62.2M | $85.5M | $73.0M | $65.4M |
| Interest income | $6.7M | $5.6M | $5.8M | $4.2M | $3.1M | $3.0M | $7.6M | $3.4M | $678,000 | $5.8M | $5.0M | $6.6M |
| Interest expense | $36.4M | $38.1M | $38.4M | $45.8M | $45.9M | $46.2M | $45.0M | $50.0M | $45.3M | $42.9M | $42.3M | $42.2M |
| Income before taxes | $34.2M | $26.7M | −$3.9M | $8.5M | $1.9M | −$31.1M | $23.3M | $47.6M | $22.3M | $48.1M | $32.4M | $31.6M |
| Income taxes | $400,000 | $630,000 | $756,000 | −$133,000 | $467,000 | $792,000 | $3.1M | $3.1M | $1.7M | $2.8M | $1.0M | $2.3M |
| Net income | $33.8M | $26.1M | −$4.7M | $8.6M | $1.5M | −$31.9M | $20.2M | $44.5M | $20.6M | $45.3M | $31.4M | $29.3M |
| EBITDA | $120.0M | $119.3M | $102.4M | $113.3M | $112.1M | $78.8M | $130.5M | $156.1M | $125.7M | $147.8M | $132.4M | $120.4M |
| EPS (diluted) | $0.23 | $0.08 | $0.04 | $0.07 | $0.01 | $0.03 | $0.13 | $0.36 | $0.16 | $0.36 | $0.20 | $0.27 |
| Gross margin | 35.9% | 30.1% | 58.4% | 28.2% | 22.0% | 26.2% | 26.7% | 38.2% | 34.1% | 39.1% | 36.6% | 59.2% |
| Operating margin | 32.5% | 25.7% | 18.6% | 27.8% | 24.1% | 24.2% | 28.8% | 37.3% | 33.2% | 37.7% | 34.8% | 32.2% |
| Net margin | 16.8% | 14.9% | −2.7% | 4.9% | 0.8% | −17.2% | 9.0% | 17.6% | 11.0% | 20.0% | 15.0% | 14.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in SFL's financial statements (latest annual report filed March 16, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SFL financial results
In fiscal year 2025 (ended December 31, 2025), SFL reported revenue of $719.8 million, down 19.3% from the year before. It had a net loss of $26.4 million, a net profit margin of −3.7%. Diluted earnings per share came to $0.15. Over five years revenue grew at an average rate of 12.4% a year.
See the SFL stock overview for the latest quote and news, or the SFL chart for price history and technical indicators.
SFL income statement FAQ
What is SFL's annual revenue?
SFL reported total revenue of $719.8 million for fiscal year 2025, which ended on December 31, 2025. That was down 19.3% from $891.6 million the previous year.
Is SFL profitable?
No. SFL reported a net loss of $26.4 million in fiscal 2025, a net profit margin of −3.7%; its operating margin was 19.0%.
What is SFL's gross margin?
SFL's gross margin was 58.1% in fiscal 2025: for every $100 of revenue, SFL kept $58 after the direct cost of its products and services.
How fast is SFL growing?
Revenue grew 12.4% a year on average over the last five fiscal years, from $400.4 million to $719.8 million.
What are SFL's earnings per share?
SFL earned $0.15 per diluted share in fiscal 2025, compared with $1.01 a year earlier.
When will SFL report its next earnings?
SFL is expected to report results for the quarter ending September 30, 2026 on November 11, 2026.
When does SFL's fiscal year end?
SFL's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 16, 2026.