SFL Corp Ltd. (SFL)

SFL Corporation Ltd., a maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters. The company operates in various sectors of the maritime, and shipping and offshore industries, including oil transportation, dry bulk shipments, oil products transportation, container transportation, car transportation, and drilling rigs. As of December 31, 2025, the company owned 17 tankers, two dry bulk carriers, 21 container vessels, seven car carriers, and two drilling rigs. It primarily operates in Bermuda, Canada, Cyprus, Liberia, Namibia, Norway, Singapore, the United Kingdom, and the Marshall Islands. SFL Corporation Ltd. was formerly known as Ship Finance International Limited and changed its name to SFL Corporation Ltd. in September 2019. The company was incorporated in 2003 and is based in Hamilton, Bermuda.

Ticker: SFL
Exchange: NYSE
Sector: Industrials
Industry: Marine Shipping
Market cap: $1.55B
52-week range: $7.41 - $13.98

Valuation

Share price: $10.96 (close of Nov 6, 2026)
P/E (TTM): 16.36x
Price to book: 1.43x
Price to free cash flow: 5.93x
Enterprise value: $3.77B
Book value per share: $7.68

Price performance

Period	Change
1 day	-0.18%
5 days	-15.37%
1 month	-17.59%
3 months	-9.20%
6 months	-6.96%
Year to date	+40.33%
1 year	+46.92%
3 years	-1.79%
5 years	+37.00%
10 years	-11.26%
All time	-25.19%

Short interest

As of: Oct 15, 2026
Short % of float: 3.82%
Shares short: 4.39M
Days to cover: 3.55
Change since prior report: +0.88%
Source: FINRA consolidated short interest

Profitability and growth

Return on equity: -2.75%
Return on invested capital: 3.82%
Return on assets: -0.73%
Return on capital employed: 4.67%
Net margin: -3.61%
EBITDA margin: 50.70%
Revenue growth: -18.95%
Net income growth: -120.23%
Free cash flow growth: -27.77%

Cash flow and balance sheet

Free cash flow yield (TTM): 16.86%
Current ratio: 0.35x
Net debt to EBITDA: 4.70x

Latest reported year

Period end: Dec 31, 2025
Fiscal year: 2025
Revenue: $733.04M
EBITDA: $371.68M
Net income: -$26.43M
Earnings per share: $-0.20
Interest expense: $180.53M
Shares outstanding: 133.06M

Income statement by year

Period end	Revenue	Net income	EPS
2025-12-31	$733.04M	-$26.43M	-$0.20
2024-12-31	$904.40M	$130.65M	$1.01
2023-12-31	$752.29M	$83.94M	$0.67
2022-12-31	$670.39M	$202.77M	$1.60
2021-12-31	$513.40M	$164.34M	$1.35
2020-12-31	$471.05M	-$224.43M	-$2.06
2019-12-31	$458.85M	$89.18M	$0.83
2018-12-31	$418.71M	$73.62M	$0.70
2017-12-31	$380.88M	$101.21M	$1.06
2016-12-31	$412.95M	$146.41M	$1.57

Margins and returns by year

Period end	Net margin	Return on equity	Return on capital
2025-12-31	-3.61%	-2.75%	3.82%
2024-12-31	14.45%	11.58%	7.46%
2023-12-31	11.16%	8.08%	6.57%
2022-12-31	30.25%	18.58%	7.32%
2021-12-31	32.01%	16.73%	7.15%
2020-12-31	-47.64%	-28.21%	-4.58%
2019-12-31	19.43%	8.06%	3.61%
2018-12-31	17.58%	6.24%	4.49%
2017-12-31	26.57%	8.47%	5.73%
2016-12-31	35.45%	12.91%	6.26%

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$150.83M	$1.96B
2024-12-31	$134.55M	$2.15B
2023-12-31	$165.49M	$1.71B
2022-12-31	$188.36M	$1.28B
2021-12-31	$145.62M	$1.59B
2020-12-31	$215.44M	$1.16B
2019-12-31	$199.52M	$1.36B
2018-12-31	$298.57M	$1.17B
2017-12-31	$246.85M	$1.19B
2016-12-31	$180.87M	$1.38B

Free cash flow by year

Period end	Free cash flow
2025-12-31	$267.14M
2024-12-31	$369.86M
2023-12-31	$343.09M
2022-12-31	$355.13M
2021-12-31	$293.60M
2020-12-31	$276.48M
2019-12-31	$249.71M
2018-12-31	$200.97M
2017-12-31	$177.80M
2016-12-31	$230.07M

Dividend history

Most recent payment: Sep 9, 2026

Payment date	Dividend per share
2026-09-09	$0.22
2026-05-27	$0.22
2026-03-12	$0.20
2025-06-12	$0.27
2025-03-12	$0.27
2024-12-13	$0.27
2024-09-11	$0.27
2024-05-24	$0.27

Investor relations

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-11-04	Sep 2026	-
2026-08-26	Jun 2026	-
2026-05-12	Mar 2026	-
2025-11-12	Sep 2025	-
2025-08-19	Jun 2025	-
2025-05-14	Mar 2025	-
2025-02-12	Dec 2024	-
2024-11-06	Sep 2024	-

Filings and sources

Company website: sflcorp.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

Similar companies

Union Pacific Corp (UNP) · CSX Corp (CSX) · Norfolk Southern Corp (NSC) · Westinghouse Air Brake Technologies Corp (WAB) · Canadian National Railway Co (CNI) · Canadian Pacific Kansas City Ltd (CP) · Old Dominion Freight Line, Inc. (ODFL) · Schneider National, Inc. (SNDR)

All Industrials companies

Understanding these figures

Price-to-earnings ratio · Short interest · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart

Explore

Company directory · S&P 500 heatmap · Earnings calendar · Super investor holdings · Congress trades