SFL Corporation Ltd. (SFL) Key Metrics
SFL valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.71B
- Enterprise value
- $4.03B
- P/E (TTM)
- 25.8 10-yr median 12.4
- Forward P/E
- 163.9
- PEG ratio
- —
- Price / sales
- 2.4 10-yr median 2.1
- Price / book
- 1.7 10-yr median 1.2
- EV / EBITDA
- 9.4 10-yr median 8.9
- Dividend yield
- 7.12% $0.88 a year
- Beta
- 0.46
SFL key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsSFL valuation Price multiples at each fiscal year-end price.
SFL returns How much profit the business earns on the capital it uses.
SFL per-share figures Results divided by the shares outstanding at year-end.
SFL financial health Debt, liquidity and how easily interest is covered.
SFL efficiency & capital use Working capital cycle and where the cash goes.
SFL valuation history
SFL returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
SFL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
SFL cash returned to shareholders
SFL price vs earnings per share
SFL key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $1.04B | $1.33B | $1.43B | $1.27B | $1.14B | $684.3M | $1.57B | $1.12B | $1.48B | $1.39B |
| Enterprise value | $3.45B | $4.03B | $3.82B | $3.75B | $3.38B | $2.70B | $4.07B | $3.43B | $2.74B | $2.88B |
| P/E ratio | — | 10.2 | 17.0 | 6.2 | 6.9 | — | 17.6 | 15.1 | 14.6 | 9.5 |
| Price / sales | 1.4 | 1.5 | 1.9 | 1.9 | 2.3 | 1.7 | 3.4 | 2.7 | 3.9 | 3.4 |
| Price / book | 1.1 | 1.2 | 1.4 | 1.2 | 1.2 | 0.9 | 1.4 | 0.9 | 1.2 | 1.2 |
| Price / free cash flow | 4.7 | — | 18.1 | — | — | 4.4 | 7.4 | — | 15.4 | 33.1 |
| Price / operating cash flow | 3.6 | 3.6 | 4.2 | 3.6 | 3.9 | 2.5 | 6.3 | 5.5 | 8.3 | 6.0 |
| EV / sales | 4.8 | 4.5 | 5.2 | 5.7 | 6.8 | 6.7 | 8.9 | 8.2 | 7.2 | 7.0 |
| EV / EBITDA | 8.2 | 7.2 | 8.2 | 7.4 | 8.6 | 121.0 | 12.9 | 12.2 | 9.8 | 9.2 |
| EV / free cash flow | 15.7 | — | 48.6 | — | — | 17.2 | 19.3 | — | 28.5 | 68.8 |
| Earnings yield | −2.5% | 9.8% | 5.9% | 16.0% | 14.5% | −32.8% | 5.7% | 6.6% | 6.8% | 10.5% |
| Free cash flow yield | 21.1% | −20.7% | 5.5% | −19.5% | −25.4% | 22.9% | 13.4% | −84.0% | 6.5% | 3.0% |
| Dividend yield | 12.0% | 10.4% | 8.6% | 8.8% | 6.8% | 16.0% | 9.6% | 13.4% | 10.3% | 12.1% |
| Shareholder yield (dividends + buybacks) | 13.0% | 20.4% | 9.3% | 8.8% | 6.8% | 16.0% | 9.6% | 13.4% | 10.3% | 12.1% |
| Share price at fiscal year-end | $7.81 | $10.22 | $11.28 | $9.22 | $8.15 | $6.28 | $14.54 | $10.53 | $15.50 | $14.85 |
| Per share | ||||||||||
| Revenue per share | $5.41 | $6.86 | $5.83 | $4.77 | $3.55 | $3.67 | $4.23 | $3.95 | $3.98 | $4.42 |
| Earnings per share | −$0.20 | $1.01 | $0.66 | $1.48 | $1.18 | −$2.06 | $0.83 | $0.70 | $1.06 | $1.57 |
| Operating cash flow per share | $2.18 | $2.85 | $2.71 | $2.59 | $2.11 | $2.54 | $2.32 | $1.90 | $1.86 | $2.46 |
| Free cash flow per share | $1.65 | −$2.12 | $0.62 | −$1.80 | −$2.07 | $1.44 | $1.95 | −$8.85 | $1.01 | $0.45 |
| Cash per share | $1.16 | $1.06 | $1.35 | $1.42 | $1.20 | $2.16 | $2.14 | $2.82 | $2.58 | $1.93 |
| Book value per share | $7.22 | $8.68 | $8.21 | $7.94 | $7.05 | $7.30 | $10.27 | $11.14 | $12.50 | $12.13 |
| Tangible book value per share | $7.22 | $8.68 | $8.21 | $7.94 | $7.05 | $7.30 | $10.27 | $11.14 | $12.50 | $12.13 |
| Dividends per share | $0.94 | $1.07 | $0.97 | $0.81 | $0.56 | $1.00 | $1.40 | $1.41 | $1.60 | $1.80 |
| Capex per share | $0.53 | $4.96 | $2.09 | $4.39 | $4.17 | $1.10 | $0.37 | $10.74 | $0.85 | $2.01 |
| Debt per share | $19.29 | $21.84 | $20.27 | $19.47 | $17.31 | $20.63 | $25.35 | $24.64 | $15.73 | $17.92 |
| Shares outstanding | 133.1M | 130.0M | 126.6M | 137.4M | 139.4M | 109.0M | 107.7M | 105.9M | 95.6M | 93.5M |
| Change in shares outstanding | +2.4% | +2.7% | −7.9% | −1.4% | +27.9% | +1.2% | +1.7% | +10.8% | +2.2% | +0.1% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −2.5% | 12.1% | 7.9% | 19.6% | 18.5% | −23.6% | 7.8% | 6.2% | 8.7% | 12.3% |
| Return on invested capital (ROIC) | 3.0% | 7.8% | 6.6% | 5.2% | 4.0% | −3.4% | 1.9% | 2.0% | 3.0% | 5.4% |
| Return on assets (ROA) | −0.7% | 3.3% | 2.2% | 5.5% | 5.0% | −6.4% | 2.3% | 2.1% | 3.4% | 4.9% |
| Return on tangible assets | −0.7% | 3.2% | 2.2% | 5.3% | 4.8% | −7.3% | 2.3% | 1.9% | 3.4% | 5.0% |
| Free cash flow margin | 30.5% | −30.8% | 10.7% | −37.7% | −58.2% | 39.1% | 46.1% | −223.7% | 25.2% | 10.2% |
| Income quality (OCF / net income) | — | 2.83 | 4.09 | 1.75 | 1.79 | — | 2.80 | 2.73 | 1.76 | 1.57 |
| Financial health | ||||||||||
| Total debt | $2.57B | $2.84B | $2.57B | $2.67B | $2.41B | $2.25B | $2.73B | $2.61B | $1.50B | $1.68B |
| Cash & short-term investments | $155.0M | $138.3M | $170.6M | $195.6M | $166.8M | $235.2M | $230.3M | $298.6M | $246.9M | $180.9M |
| Net debt | $2.41B | $2.70B | $2.40B | $2.48B | $2.25B | $2.01B | $2.50B | $2.31B | $1.26B | $1.49B |
| Debt / equity | 2.67 | 2.52 | 2.47 | 2.45 | 2.46 | 2.83 | 2.47 | 2.21 | 1.26 | 1.48 |
| Debt / assets | 0.71 | 0.69 | 0.69 | 0.69 | 0.70 | 0.73 | 0.70 | 0.67 | 0.50 | 0.57 |
| Net debt / EBITDA | 5.72 | 4.82 | 5.14 | 4.88 | 5.72 | 90.28 | 7.96 | 8.21 | 4.49 | 4.78 |
| Current ratio | 0.36 | 0.38 | 0.31 | 0.28 | 0.63 | 0.62 | 1.07 | 1.02 | 0.92 | 1.17 |
| Quick ratio | 0.35 | 0.36 | 0.30 | 0.27 | 0.60 | 0.60 | 1.05 | 1.00 | 0.91 | 1.14 |
| Interest coverage | 0.8 | 1.7 | 1.5 | 2.3 | 2.7 | -1.0 | 0.9 | 1.0 | 1.7 | 2.3 |
| Working capital | −$451.1M | −$511.8M | −$671.1M | −$759.6M | −$150.0M | −$220.1M | $24.7M | $9.5M | −$26.1M | $39.5M |
| Invested capital | $3.37B | $3.83B | $3.43B | $3.57B | $3.23B | $2.81B | $3.61B | $3.49B | $2.45B | $2.63B |
| Tangible asset value | $960.9M | $1.13B | $1.04B | $1.09B | $982.3M | $795.7M | $1.11B | $1.18B | $1.19B | $1.13B |
| Net current asset value | −$2.42B | −$2.66B | −$2.39B | −$2.47B | −$2.23B | −$1.94B | −$2.39B | −$2.28B | −$1.50B | −$1.52B |
| Graham number | — | $14.01 | $11.07 | $16.24 | $13.67 | — | $13.83 | $13.20 | $17.26 | $20.67 |
| Graham net-net per share | −$18.86 | −$20.92 | −$19.25 | −$18.23 | −$16.19 | −$18.79 | −$23.44 | −$22.20 | −$16.32 | −$17.17 |
| Capital allocation | ||||||||||
| Dividends paid | $125.1M | $138.5M | $123.0M | $111.6M | $77.6M | $109.4M | $150.7M | $149.3M | $152.9M | $168.3M |
| Share buybacks (net) | $10.0M | $133.1M | $10.2M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividend payout ratio | — | 106.0% | 146.5% | 55.0% | 47.2% | — | 168.9% | 202.7% | 151.1% | 114.9% |
| Dividends + buybacks / free cash flow | 61.5% | — | 169.3% | — | — | 69.9% | 71.6% | — | 159.1% | 401.3% |
| Capex / revenue | 9.8% | 72.3% | 35.8% | 91.9% | 117.6% | 30.0% | 8.6% | 271.7% | 21.4% | 45.6% |
| Capex / operating cash flow | 24.3% | 174.4% | 77.1% | 169.7% | 198.1% | 43.4% | 15.7% | 566.1% | 45.9% | 81.8% |
| Capex / depreciation | 0.29 | 2.70 | 1.24 | 3.04 | 3.83 | 0.95 | 0.30 | 10.93 | 0.93 | 2.00 |
| Stock-based compensation / revenue | — | — | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.1% | 0.1% | 0.1% |
| SG&A / revenue | 2.5% | 2.3% | 2.1% | 2.3% | 2.6% | 2.8% | 2.2% | 2.2% | 2.0% | 2.2% |
| Efficiency | ||||||||||
| Days sales outstanding | 39.7 | 52.1 | 46.4 | 41.2 | 29.3 | 18.9 | 34.2 | 29.7 | 14.0 | 33.2 |
| Days of inventory on hand | 18.9 | 9.1 | 10.1 | 12.3 | 11.7 | 11.4 | 22.4 | 10.7 | 8.5 | 8.0 |
| Days payables outstanding | 25.2 | 20.2 | 13.7 | 4.5 | 1.9 | 3.2 | 7.3 | 1.9 | 1.4 | 1.6 |
| Cash conversion cycle (days) | 33.3 | 40.9 | 42.8 | 49.0 | 39.1 | 27.1 | 49.2 | 38.5 | 21.1 | 39.6 |
| Receivables turnover | 9.20 | 7.01 | 7.86 | 8.86 | 12.46 | 19.36 | 10.68 | 12.31 | 26.00 | 11.00 |
| Payables turnover | 14.49 | 18.04 | 26.62 | 81.39 | 195.60 | 113.78 | 49.88 | 191.31 | 256.34 | 223.17 |
| Inventory turnover | 19.36 | 40.01 | 36.11 | 29.64 | 31.17 | 31.89 | 16.31 | 34.03 | 43.09 | 45.43 |
| Asset turnover | 0.19 | 0.23 | 0.19 | 0.18 | 0.15 | 0.11 | 0.12 | 0.12 | 0.13 | 0.14 |
| Average receivables | $78.3M | $127.2M | $93.9M | $74.0M | $39.7M | $20.7M | $42.7M | $34.0M | $14.6M | $37.6M |
| Average payables | $20.8M | $32.3M | $19.1M | $4.8M | $1.5M | $2.3M | $2.7M | $1.2M | $858,000 | $1.0M |
| Average inventory | $15.6M | $14.6M | $14.1M | $13.3M | $9.5M | $8.4M | $8.2M | $6.8M | $5.1M | $5.1M |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from SFL's annual financial statements (latest annual report filed March 16, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
SFL valuation and financial ratios
Based on the latest twelve months, the trailing P/E is 25.8 and the forward P/E is 163.9. SFL earned a return on equity of −2.5% and a return on invested capital of 3.0% in fiscal 2025. It ended the year with $2.6 billion of debt and $155.0 million in cash and short-term investments, net debt of $2.4 billion. It returned $135.1 million to shareholders: $125.1 million in dividends and $10.0 million in share buybacks, 62% of free cash flow. The share count rose 42.3% from 93.5M to 133.1M over 9 years.
See the SFL income statement, the SFL chart for price history, or the SFL stock overview for the latest quote and news.
SFL key metrics FAQ
What is SFL's P/E ratio?
SFL's trailing P/E ratio is 25.8 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 163.9. At the end of fiscal 2025 it was —, compared with a 10-year median of 12.4.
What is SFL's EV/EBITDA?
SFL's enterprise value was 8.2 times EBITDA at the end of fiscal 2025 (enterprise value $3.5 billion, EBITDA $421.4 million); the current EV/EBITDA is 9.4.
What is SFL's return on equity?
SFL's return on equity (ROE) was −2.5% in fiscal 2025: net income of -$26.4 million on average shareholders' equity of $1.0 billion.
What is SFL's ROIC?
SFL's return on invested capital was 3.0% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does SFL have?
SFL had total debt of $2.6 billion at the end of fiscal 2025, a debt-to-equity ratio of 2.67 and $2.4 billion of net debt (5.72 times EBITDA).
What is SFL's dividend yield?
SFL's forward dividend yield is 7.12%. SFL paid $125.1 million in dividends in fiscal 2025 ($0.94 per share), a payout ratio of —.
Does SFL buy back its shares?
Yes. SFL spent $10.0 million on net share repurchases in fiscal 2025 Shares outstanding changed +2.4% over the year, to 133.1M..
What is SFL's free cash flow yield?
SFL generated $219.7 million of free cash flow in fiscal 2025, a free cash flow yield of 21.1% on its market value at year-end ($1.0 billion).
What is SFL's current ratio?
SFL's current ratio was 0.36 at the end of fiscal 2025: current assets were 0.36 times current liabilities.