CMBTCmb.Tech NV
Is the business good?
The checks split: mostly cash-backed earnings (0.9×) and margins steady.
Operating profit is mostly backed by cash. Conversion is improving vs a year ago.
Margins have held roughly steady, a stable cost structure.
A balanced mix of margins, efficiency, and leverage. ROE 6% = margin × turnover × leverage.
Unless marked, from derived.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is CMBT?
Cmb.Tech NV keeps 33% of every revenue dollar as operating profit, against 30% for the median Oil & Gas Midstream name.
Operating margin · Oil & Gas Midstream median 30% · fiscal year to FY2025
- Cash conversion
- 0.85×
Cash conversion · 0.46× a year ago · most of the operating profit arrived as cash, working capital took the rest
- Share count, year on year
- +17%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 0.44%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | 44% |
| FY2021 | −67% |
| FY2022 | 34% |
| FY2023 | 79% |
| FY2024 | 107% |
| FY2025 | 33% |
Details›
- Gross marginfiscal year to FY2025
- 99%
- Operating marginfiscal year to FY2025
- 33%
- Net marginfiscal year to FY2025
- 9.7%
- R&D as % of revenue
- 0.44%
- Revenue, trailing twelve months
- $1.67B
- Net income, trailing twelve months
- $161M
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Oil & Gas Midstream
Ranks #8 of 20 by RyuScore