Cmb.Tech NV
CMB.TECH NV is a Belgian maritime and energy company that provides shipping, vessel operations, and hydrogen-related services. The company operates through three main divisions: Marine, H2 Infra, and H2 Industry. Its Marine business designs, owns, and operates a broad fleet that includes crude oil tankers, dry bulk carriers, container ships, chemical tankers, ferries, tugboats, and offshore wind support vessels. The H2 Infra division focuses on green hydrogen and ammonia supply chains, while H2 Industry develops dual-fuel industrial applications. Based in Antwerp, CMB.TECH serves global shipping, offshore energy, and industrial markets, positioning itself as a diversified operator in marine transportation and low-carbon maritime solutions.
$18.34
+$0.91 (+5.22%)
Price from 2 days ago
22.20% operating margin is above average. ROIC at 5.75%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue grew 77.2%, still solid. Margins contracted 17.1pp, which offsets some of the top-line progress.
ROIC dropped from 10.38% to 5.75%, capital efficiency is deteriorating. Negative free cash flow of -$588M. The business is consuming cash, not generating it.
6.3x earnings, 17.7x FCF. The multiple is below average. Either the market is pricing in deterioration you should investigate, or there's genuine value here.
Price History
Valuation & Multiples
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$2.27B
▲ +77.2% YoY
Net Income (TTM)
$840M
▼ -84.0% YoY
Op. Margin
32.19%
▼ -17.1pp YoY
ROIC
5.75%
▼ -4.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$301M
▲ +11.3% YoY
Op. Cash Flow (TTM)
$783M
▼ -63.6% YoY
Net Debt
$5.40B
Cash & Equiv.
$147M
3Y CAGR: +24.9%
Continue Research
Is Cmb.Tech NV (CMBT) overvalued?
At a P/E of 6.3 and a price-to-free-cash-flow of 17.7, Cmb.Tech NV (CMBT) trades above a two-stage DCF intrinsic value of about $-0.62 per share, so at $18.34 the stock looks overvalued (103.4% above estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Cmb.Tech NV scores 54/100 on Intrinsiqq's quality scorecard (a mixed business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 4.6%; see dividend safety for coverage and history. All figures are computed from company filings; read the full methodology, or see how the market compares in our US profitability statistics. This is analysis, not investment advice.
Frequently asked
What is Cmb.Tech NV's fair value?+
Intrinsiqq's two-stage DCF estimates an intrinsic value of about $-0.62 per share for CMBT, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around $-0.46. At today's $18.34, that puts the stock about 103.4% above estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Is Cmb.Tech NV a high-quality business?+
Cmb.Tech NV scores 54 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a mixed business on these measures. Recent fundamentals include a 32.2% operating margin and a 5.8% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from company filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Does Cmb.Tech NV (CMBT) pay a dividend, and how much?+
Yes, Cmb.Tech NV pays a regular dividend of about $0.85 per share per year (typically in quarterly installments), a yield of roughly 4.6% at the current price. That is a payout ratio of about 29.4% of earnings, so the dividend is amply covered by earnings. Cmb.Tech NV has grown the dividend at roughly 68.5% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For CMBT's full payout history, growth streak and dividend-safety score, see the dividends tab.
Is Cmb.Tech NV a good stock to buy right now?+
That depends on valuation and quality together, not either alone. CMBT currently trades above its estimated intrinsic value and scores 54/100 on quality (mixed). It also yields about 4.6%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from company filings, not investment advice.
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Data sourced from company filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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