SBO AG SBOEY

EnergyOil & Gas Related Equipment and ServicesAustria

Last close 3.35 USD on Nov 1, 2026, +11.5% year to date

Quant rating

Quant rating D Rank 97 of 113 in Energy

Growth D 84 of 113
Valuation D 103 of 113
Quality D 88 of 113
Revisions C 69 of 113
Momentum C 76 of 113

Wall Street consensus Buy (2.40)Average target 39.88 USD +1,092.1%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 533M
Enterprise value: 663M
52-week range: 3.00 – 3.57
3-year range: 2.90 – 5.25
Dividend yield: 2.62%
Beta (5 years): –
Shares outstanding: 16.0M
Next earnings: Nov 26, 2026

About the company

SBO AG., formerly SCHOELLER-BLECKMANN OILFIELD EQUIPMENT Aktiengesellschaft, is an Austria-based company. The Company engaged in the manufacture of alloy, non-magnetic steel and precision components and equipment for the energy sector. It delivers cutting-edge performance solutions backed by product portfolio, protected through intellectual property. The Company operates in the following segments Advanced Manufacturing & Services (AMS) and Oilfield Equipment (OE). The AMS segment comprises the production of alloy, non-magnetic steels and the precision manufacture of steels into special components for oil, gas and other industries using technologies such as Direct Metal Laser Sintering (DMLS), a Three-Dimensional (3D) metal printing technology. OE segment offers efficient tools for drilling and completion in the oil and gas industry as well as in the geothermal sector.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	535	580	647	536	333	–
Revenue growth	−7.8%	−10.3%	20.5%	61.2%	−6.4%	8.5%
EPS (basic, normalized)	1.74	3.13	4.97	5.07	1.51	–
EPS growth	−44.4%	−37.1%	−2.0%	236.5%	–	–
Gross margin	28.7%	30.4%	34.6%	33.9%	25.9%	30.7%
Net margin	5.2%	8.1%	12.2%	15.0%	7.2%	9.5%
ROE	5.2%	9.6%	16.4%	19.6%	6.7%	11.5%

Balance sheet, last quarter
Cash & short-term investments (mil)	291
Current ratio	2.73x
Long-term debt (mil)	296
Net debt (mil)	133
Total equity (mil)	488
Net debt / equity	0.27x
Net debt / EBITDA	1.60x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	535	−7.8%	1.2x	82.9	−24.4%	8.0x	1.74	−44.4%	1.9x
2026	507	−5.3%	1.3x	72.9	−12.1%	9.1x	1.21	−30.6%	2.8x
2027	575	+13.5%	1.2x	117	+60.8%	5.7x	3.30	+173.5%	1.0x
2028	618	+7.6%	1.1x	138	+17.9%	4.8x	4.25	+28.8%	0.8x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	507	0.0%	−6.3%	−8.1%	1.21	0.0%	−43.0%	−52.1%
2027	575	0.0%	−2.2%	−3.2%	3.30	0.0%	−11.2%	−10.7%
2028	618	0.0%	−1.2%	−1.4%	4.25	0.0%	−8.9%	−5.2%

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	FQ0
Sales reported (mil)	147	141	138	135	–	–	–	97.0	–	–
Sales mean (mil)	–	146	148	–	–	–	–	114	–	–
Surprise	–	−3.3%	−7.3%	–	–	–	–	−14.9%	–	–
EPS reported	0.95	0.64	0.60	0.70	–	–	–	–	–	–
EPS mean	–	0.92	–	–	–	–	–	–	–	–
Surprise	–	−30.4%	–	–	–	–	–	–	–	–

Peer comparison Oil & Gas Related Equipment and Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
SBOEY SBO AG	533M	1.60x	5.2%	1.10x	2.8x	1.0x	9.1x	5.7x
SMC Summit Midstream Corp	630M	6.61x	−3.5%	0.71x	77.5x	25.8x	8.9x	8.0x
ESI Ensign Energy Services, Inc	599M	2.42x	−2.4%	0.64x	−42.0x	21.5x	4.4x	3.8x
OIS Oil States International, Inc.	579M	−0.02x	−16.3%	1.00x	17.1x	14.2x	7.4x	6.4x
CFW Calfrac Well Services Ltd.	564M	0.63x	3.0%	1.07x	8.2x	7.9x	3.6x	3.3x
PHX PHX Energy Services Corp	449M	0.55x	7.7%	2.71x	12.2x	9.0x	4.7x	4.1x
Mean		1.97x	−1.0%	1.21x	12.6x	13.2x	6.4x	5.2x
Median		1.12x	0.3%	1.03x	10.2x	11.6x	6.0x	4.9x

Technical analysis

1M0.0%
3M−4.4%
1Y+9.0%
3Y−37.6%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, SBO AG, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	535	580	647	536	333	356
Cost of revenue	381	404	423	354	247	275
Gross profit	153	176	224	182	86.4	80.7
Selling, general & administrative expenses	96.8	91.4	94.9	79.1	59.9	73.2
Research & development	14.9	10.9	9.1	7.4	8.6	10.1
Interest expense (income), operating	−2.0	2.7	7.7	−5.6	−6.2	8.3
Unusual expense (income)	−0.3	−1.5	8.7	0	−1.4	26.1
Other operating expenses	−1.4	0.3	−0.2	−1.6	−6.6	−2.8
Operating income	45.3	72.6	103	103	32.1	−34.2
Net interest income (expense)	−6.9	−6.7	0.5	−3.0	−5.6	−4.0
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0.1	0
Net income before taxes	38.4	65.9	104	99.9	26.6	−38.1
Provision for taxes	10.7	18.9	25.0	19.4	2.7	−11.6
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	27.7	46.9	79.0	80.5	23.8	−26.5
Extraordinary items	–	–	–	–	–	–
Net income	27.7	46.9	79.0	80.5	23.8	−26.5
EBIT, normalized	43.0	73.8	120	97.3	19.0	38.1
EBITDA, normalized	81.1	107	152	131	55.1	87.4
Basic EPS, normalized	1.74	3.13	4.97	5.07	1.51	–

Balance sheet in millions of USD, fiscal years

Balance sheet, SBO AG, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	331	326	179	308	332	383
Receivables	140	151	162	146	111	76.1
Total inventory	183	195	227	188	138	139
Prepaid expenses	–	–	–	–	–	–
Other current assets	0	0	0	0	0	2.7
Total current assets	654	672	569	642	580	602
Property, plant & equipment	184	150	144	132	137	148
Goodwill	156	152	153	144	144	144
Intangibles	21.7	15.0	21.0	12.8	13.2	17.7
Long-term investments	–	–	–	–	–	–
Note receivable	4.8	2.8	3.9	3.4	4.2	4.8
Other long-term assets	28.9	29.1	32.7	31.9	36.7	34.1
Total assets	1,050	1,021	923	966	916	950
Liabilities
Accounts payable	41.0	33.3	43.7	35.4	20.5	20.9
Payable/accrued	–	–	–	–	–	–
Accrued expenses	23.5	30.4	26.8	20.5	14.3	11.8
Short-term debt	48.8	44.3	42.1	32.9	42.4	41.4
Current portion of long-term debt	57.6	33.7	48.6	65.4	27.3	33.5
Other current liabilities	34.2	39.8	49.0	160	150	167
Total current liabilities	205	181	210	314	254	275
Long-term debt	335	317	200	183	258	306
Minority interest	–	–	–	–	–	–
Other liabilities	14.0	12.2	18.2	14.7	15.8	19.0
Total liabilities	554	511	429	512	528	599
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	18.5	16.3	17.4	16.8	17.9	19.2
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	481	428	441	385	337	336
Treasury stock	–	–	–	–	–	–
Other equity	−4.1	65.7	36.1	52.7	32.5	−4.6
Total equity	496	510	494	455	388	351
Total liabilities & shareholders' equity	1,050	1,021	923	966	916	950

Cash flow statement in millions of USD, fiscal years

Cash flow statement, SBO AG, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	38.4	65.9	104	80.5	23.8	−26.5
Depreciation, depletion & amortization	38.2	33.0	32.0	35.2	36.1	67.2
Deferred taxes	–	–	–	3.9	−2.8	−5.8
Non-cash items	0.1	1.5	12.1	−7.5	−11.3	9.6
Changes in working capital	8.4	1.6	−52.6	−56.0	−19.9	70.7
Cash from operations	85.1	102	95.5	56.1	26.0	115
Investing activities
Capital expenditures	−58.7	−35.8	−41.4	−33.1	−22.1	−19.8
Other investing cash flows	3.6	3.1	−17.6	6.0	−23.3	2.5
Cash from investing	−55.2	−32.7	−58.9	−27.1	−45.4	−17.4
Financing activities
Financing cash flow items	−0.8	−1.5	−132	−1.9	−1.6	−2.2
Cash dividends paid	−32.4	−32.6	−34.7	−12.6	0	−23.0
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−14.8	116	−1.7	−33.1	−26.2	13.5
Cash from financing	−48.0	82.0	−169	−47.6	−27.7	−11.8
Foreign exchange effects	−20.9	6.5	−6.2	14.4	21.8	−26.5
Net change in cash	−39.0	158	−138	−4.3	−25.2	59.5
Free cash flow	26.4	66.1	54.1	22.9	4.0	95.4

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.