Cadeler plc
CDLRIndustrials·Engineering & Construction·United Kingdom·Mid·NYSE·Nov 11 • 12:49 PM ET
6.59-0.18 (-2.59%)
2026-11-11 18:50 CET
Market cap
2,402.54 USD m
Revenue, TTM
850.04 USD m
Net income, TTM
233.34 USD m
Free cash flow, TTM
-446.27 USD m
EPS diluted, TTM
0.62
P/E
10.55
Price
CDLR against its 20, 50 and 200-day averages2050200miss
78.1% under the 52-week high of 30.01 on 11 May 2026. 52-week low 4.44 on 10 Dec 2025. Last 15 sessions, 325.5% high to low
Profile
CDLR52-week range, 8% of the way up
4.4430.01
Cadeler Plc operates as an offshore wind farm vessel contractor. It engages in the transportation and installation of offshore wind turbine generators and foundations. The company was founded in 2008 and is headquartered in Norwich, the United Kingdom.
| Employees | 1073 |
|---|---|
| IPO | Dec 19, 2023 |
| Beta | 1.16 |
| ATR, 14d | 3.80 |
| Rel volume | 1.10 |
| Short float | 0.36% |
| Insider own | 36.02% |
| Inst own | 41.49% |
Snapshot
6 groupsValuation
| Index | - |
|---|---|
| Market Cap | 2.34B |
| Enterprise Value | 3.94B |
| Income | 233.34M |
| Sales | 850.04M |
| Book/sh | 5.25 |
| Cash/sh | 0.66 |
| Dividend Est. | - |
| Dividend TTM | - |
| Dividend Ex-Date | - |
| Dividend Gr. 3/5Y | - - |
| Payout | 0.00% |
| Employees | 1073 |
| IPO | Dec 19, 2023 |
Ratios
| P/E | 10.55 |
|---|---|
| Forward P/E | - |
| PEG | - |
| P/S | 2.75 |
| P/B | 1.25 |
| P/C | 9.93 |
| P/FCF | - |
| EV/EBITDA | 8.18 |
| EV/Sales | 4.64 |
| Quick Ratio | 1.61 |
| Current Ratio | 1.62 |
| Debt/Eq | 0.91 |
| LT Debt/Eq | 0.83 |
| Option/Short | No / Yes |
Earnings
| EPS (ttm) | 0.62 |
|---|---|
| EPS next Y | - |
| EPS next Q | - |
| EPS this Y | - |
| EPS next Y | - |
| EPS next 5Y | - |
| EPS past 3/5Y | 57.98% - |
| Sales past 3/5Y | 84.29% 99.36% |
| EPS Y/Y TTM | -14.17% |
| Sales Y/Y TTM | 65.61% |
| EPS Q/Q | -46.47% |
| Sales Q/Q | 24.47% |
| Earnings | Aug 25 BMO |
| EPS/Sales Surpr. | 22.20% 17.50% |
Ownership
| Insider Own | 36.02% |
|---|---|
| Insider Trans | 0.00% |
| Inst Own | 41.49% |
| Inst Trans | 1.43% |
| ROA | 6.39% |
| ROE | 12.83% |
| ROIC | 6.29% |
| Gross Margin | 47.48% |
| Oper. Margin | 36.21% |
| Profit Margin | 27.45% |
| SMA20 | -63.88% |
| SMA50 | -68.33% |
| SMA200 | -71.99% |
| Trades | - |
Technical
| Shs Outstand | 385.88M |
|---|---|
| Shs Float | 227.39M |
| Short Float | 0.36% |
| Short Ratio | 9.17 |
| Short Interest | 0.82M |
| 52W High | 30.01 -78.06% |
| 52W Low | 4.44 48.31% |
| Volatility | 10.81% 6.19% |
| ATR (14) | 3.80 |
| RSI (14) | 37.62 |
| Beta | 1.16 |
| Rel Volume | 1.10 |
| Avg Volume | 89.38K |
| Volume | 52,755 |
Performance
| Perf Week | -74.52% |
|---|---|
| Perf Month | -69.72% |
| Perf Quarter | -70.86% |
| Perf Half Y | -77.69% |
| Perf YTD | -64.58% |
| Perf Year | -65.08% |
| Perf 3Y | 50.69% |
| Perf 5Y | 77.83% |
| Perf 10Y | - |
| Recom | - |
| Target Price | - |
| Prev Close | 6.76 |
| Price | 6.59 |
| Change % | -2.59% |
Analyst ratings
latest 1 of 1| Date | Action | Analyst | Rating change | Target | Implied |
|---|---|---|---|---|---|
| Jan 04, 2024 | Initiated | SStifel | Buy | $35 | +431.5% |
Peers
Mkt capHeld by
AUM| Ticker | Company | AUM |
|---|---|---|
| PBW | Invesco WilderHill Clean Energy ETF | AUM: 303.43M |
| DFAS | U.S. Small Cap Portfolio-ETF Class Shares | - |
| APIE | ActivePassive International Equity ETF | AUM: 1.13B |
| DFAT | U.S. Targeted Value Portfolio-ETF Class Shares | - |
| KWH | GMO Power Infrastructure ETF | AUM: 54.05M |
| DFAC | U.S. Core Equity 2 Portfolio-ETF Class Shares | - |
| TLTD | Northern Trust DM ex-US Factor Tilt | AUM: 665.15M |
| DCOR | US Core Equity 1 Portfolio ETF Class Shares | - |
| DFSV | US Small Cap Value Portfolio ETF Class Shares | - |
| DFIC | Dimensional International Core Equity 2 ETF | - |
News
latest 14 of 144- Cadeler wins contract for 1.2GW Dogger Bank C offshore turbine installation (Power Technology)
- Cadeler and Vattenfall to collaborate on offshore wind maintenance (Power Technology)
- Cadeler Raises FY26 Outlook (RTT News)
- Kongsberg Maritime to equip two new Cadeler wind turbine installation vessels (Energy Global)
- Cadeler AS (CDLR) (Q2 2026) Earnings Call Highlights: Revenue Surges 432% as Fleet Utilization ... (GuruFocus.com) +8.64%
- Loading…
- Cadeler: Q2 Earnings Snapshot (Associated Press)
- Cadeler acquires Menck (Energy Global)
- Cadeler acquires Menck for $578m to expand offshore wind operations (Power Technology)
- Cadeler signs $929m contract for T-class wind installation vessels (Power Technology)
- Cadeler strengthens future installation capacity with firm orders for two T-class vessels (Energy Global)
- Cadeler signs EIFO-backed green term loan facility for offshore wind installation vessel (Energy Global)
- Cadeler CEO Mikkel Gleerup Highlights Energy Transition Infrastructure Growth (NYSE)
- Cadeler completes installation of 100 turbines at Sofia Wind Farm (Energy Monitor)
Quarterly earnings
actual against estimate| Period | Reported | EPS act | EPS est | EPS rep | Sales act | Sales est | Analysts |
|---|---|---|---|---|---|---|---|
| 2026Q2 | 2026-08-25 | 1.162 | 0.951 | 0.286 | 329.54 | 280.45 | 7 |
| 2026Q1 | 2026-05-20 | -0.092 | 0.150 | -0.023 | 145.25 | 174.3 | 8 |
| 2025Q4 | 2026-03-24 | 0.649 | 0.521 | 0.159 | 194.94 | 183.34 | 6 |
| 2025Q3 | 2025-11-20 | 0.688 | 0.791 | 0.203 | 179.7 | 177.76 | 8 |
| 2025Q2 | 2025-08-26 | 2.189 | 1.120 | 0.535 | 270.07 | 185.91 | 8 |
| 2025Q1 | 2025-05-21 | 0.030 | 0.092 | 0.005 | 73.72 | 83.10 | 8 |
| 2024Q4 | 2025-03-25 | 0.438 | 0.291 | 0.113 | 95.70 | 89.63 | 7 |
| 2024Q3 | 2024-11-26 | 0.354 | 0.342 | 0.087 | 84.90 | 88.12 | 9 |
| 2024Q2 | 2024-08-27 | 0.259 | 0.207 | 0.064 | 68.31 | 68.92 | 11 |
| 2024Q1 | 2024-05-28 | -0.266 | -0.390 | -0.065 | 21.16 | 16.32 | 7 |
| 2023Q4 | 2024-03-26 | -0.448 | -0.355 | -0.501 | 35.06 | 38.82 | 3 |
| 2023Q3 | 2023-11-29 | 0.130 | 0.312 | 0.103 | 35.09 | 35.22 | 2 |
| 2023Q2 | 2023-08-29 | 0.378 | 0.406 | 0.301 | 50.76 | 51.01 | 2 |
| 2024S1 | - | - | -0.412 | - | - | 58.30 | - |
| 2024S2 | - | - | 0.390 | - | - | 195.17 | - |
| 2026Q3 | - | - | 0.911 | - | - | 316.96 | 5 |
Annual earnings
| Period | EPS act | EPS est | EPS rep | Sales act | Sales est |
|---|---|---|---|---|---|
| 2020FY | - | -1.950 | -1.188 | 23.68 | 26.66 |
| 2021FY | 0.267 | 0.124 | 0.067 | 67.66 | 66.21 |
| 2022FY | 0.933 | 0.910 | 0.228 | 115.92 | 112.74 |
| 2023FY | 0.244 | 0.182 | 0.061 | 118.03 | 110.3 |
| 2024FY | 0.855 | 0.654 | 0.203 | 268.93 | 262.03 |
| 2025FY | 3.626 | 3.206 | 0.892 | 717.84 | 690.27 |
| 2026FY | - | 2.728 | - | - | 1,104 |
| 2027FY | - | 4.894 | - | - | 1,517 |
| 2028FY | - | 3.433 | - | - | 1,234 |
| 2029FY | - | 5.271 | - | - | 1,393 |
| 2030FY | - | 6.742 | - | - | 1,426 |
Estimate revisions
last 14 periods| Period | Type | Date | Estimates | Up | Down | Mean | Low | High |
|---|---|---|---|---|---|---|---|---|
| 2026Q3 | S | 2026-10-28 | 5 | 1 | 2 | 316.96 | 310.06 | 320.91 |
| 2026Q3 | S | 2026-10-16 | 5 | 2 | 2 | 316.96 | 310.06 | 320.91 |
| 2026Q3 | S | 2026-09-22 | 5 | 2 | 1 | 320.94 | 310.06 | 337.25 |
| 2026Q3 | S | 2026-09-01 | 5 | 3 | 0 | 322.18 | 316.24 | 337.25 |
| 2026Q3 | S | 2026-08-31 | 5 | 3 | 0 | 322.33 | 316.24 | 337.25 |
| 2026Q3 | S | 2026-08-25 | 5 | 2 | 0 | 317.67 | 293.85 | 337.25 |
| 2026Q3 | S | 2026-08-17 | 4 | 1 | 0 | 311.94 | 293.85 | 322.51 |
| 2026Q3 | S | 2026-08-14 | 4 | 1 | 0 | 312.02 | 293.85 | 321.95 |
| 2026Q3 | S | 2026-08-12 | 4 | 0 | 0 | 308.71 | 293.85 | 319.55 |
| 2026Q3 | S | 2026-08-11 | 4 | 0 | 0 | 308.73 | 293.85 | 319.55 |
| 2026Q3 | S | 2026-08-10 | 3 | 1 | 0 | 307.37 | 293.85 | 319.55 |
| 2026Q3 | S | 2026-08-09 | 3 | 1 | 0 | 308.23 | 293.85 | 319.55 |
| 2026Q3 | S | 2026-05-28 | 3 | 2 | 0 | 308.23 | 293.85 | 319.55 |
| 2026Q3 | S | 2026-05-27 | 3 | 1 | 1 | 303.88 | 293.85 | 319.55 |
Estimate history
| EPS, annual | -0.194 | -0.691 | -1.188 | 0.067 | 0.228 | 0.061 | 0.203 | 0.892 | 0.6239 |
|---|---|---|---|---|---|---|---|---|---|
| Period | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
| EPS, quarterly | 0.064 | 0.087 | 0.113 | 0.005 | 0.535 | 0.203 | 0.159 | -0.023 | 0.286 |
| Period | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
| Sales, annual | 84.533 | 42.959 | 22.231 | 72.028 | 111.849 | 117.433 | 269.058 | 700.118 | 850.04 |
| Period | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
| Sales, quarterly | 67.992 | 88.506 | 91.685 | 68.909 | 264.164 | 180.261 | 195.039 | 145.922 | 328.817 |
| Period | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
| Shares, annual | 38.48 | 38.48 | 115.574 | 138.574 | 197.6 | 311.41 | 350.864 | 350.868 | 385.885 |
| Period | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | MRQ |
| Shares, quarterly | 350.957 | 350.957 | 350.864 | 350.864 | 350.479 | 350.479 | 350.868 | 385.963 | 385.885 |
| Period | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
Income statement, annual
| Metric | TTM | 2025FY | 2024FY | 2023FY | 2022FY | 2021FY | 2020FY | 2019FY | 2018FY |
|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | 850.04 | 700.12 | 269.06 | 117.43 | 111.85 | 72.03 | 22.23 | 42.96 | 84.53 |
| Cost of Goods Sold Incl. D&A | 446.46 | 271.20 | 137.10 | 59.89 | 53.13 | 46.44 | 52.58 | 50.35 | 65.84 |
| Gross Profit | 403.58 | 428.92 | 131.95 | 57.55 | 58.71 | 25.58 | -30.35 | -7.39 | 18.69 |
| Selling, General and Administrative Excl. Other | 95.74 | 80.22 | 59.04 | 36.68 | 15.42 | 12.42 | 10.58 | 7.89 | 10.77 |
| Other Operating Expense | - | - | - | - | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Operating Income | 307.84 | 348.70 | 72.92 | 20.87 | 43.29 | 13.16 | -40.93 | -15.28 | 7.93 |
| Interest Expense | 91.35 | 27.01 | 3.57 | 3.60 | 1.94 | 4.49 | 4.92 | 5.65 | 6.73 |
| Unusual Expense | 0.00 | 1.78 | -0.46 | 6.23 | -0.38 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Income Before Taxes | 237.09 | 324.88 | 72.99 | 12.43 | 37.35 | 8.79 | -30.82 | -24.83 | -5.46 |
| Income Taxes | 3.75 | 8.67 | 2.60 | 0.00 | 0.00 | -0.02 | -0.00 | 1.77 | 2.02 |
| Consolidated Net Income | 233.34 | 316.21 | 70.38 | 12.43 | 37.35 | 8.81 | -30.82 | -26.60 | -7.48 |
| Net Income From Continuing Operations | 233.34 | 316.21 | 70.38 | 12.43 | 37.35 | 8.81 | -30.82 | -26.60 | -7.48 |
| Net Income | 233.34 | 316.21 | 70.38 | 12.43 | 37.35 | 8.81 | -30.82 | -26.60 | -7.48 |
| EPS (Recurring) | 0.60 | 0.90 | 0.20 | 0.08 | 0.23 | 0.07 | -1.19 | -0.69 | -0.19 |
| EPS (Basic, Before Extraordinaries) | 0.64 | 0.90 | 0.20 | 0.06 | 0.23 | 0.07 | -1.19 | -0.69 | -0.19 |
| EPS (Diluted) | 0.62 | 0.89 | 0.20 | 0.06 | 0.23 | 0.07 | -1.19 | -0.69 | -0.19 |
| EBITDA | 481.90 | 470.12 | 133.98 | 45.79 | 67.13 | 32.65 | -23.28 | 2.23 | 26.37 |
| Non-Operating Income (Expense) | 5.86 | 4.96 | 3.18 | 1.39 | -4.38 | 0.12 | 15.04 | -3.90 | -6.65 |
| Other After Tax Adjustments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Stock Option Compensation Expense | 2.16 | 1.82 | 1.38 | 0.94 | 0.29 | 0.33 | 0.14 | - | - |
| Price To Earnings Ratio | 10.62 | 10.62 | 92.71 | 13.87 | 43.60 | - | - | - | - |
| Price To Sales Ratio | 2.49 | 2.42 | 7.20 | 8.00 | 5.71 | 7.57 | 3.30 | - | - |
| Gross Margin | 47.48 | 61.26 | 49.04 | 49.00 | 52.49 | 35.52 | -136.52 | -17.21 | 22.11 |
| Operating Margin | 36.21 | 49.81 | 27.10 | 17.77 | 38.70 | 18.27 | -184.11 | -35.57 | 9.38 |
| Net Margin | 27.45 | 45.17 | 26.16 | 10.59 | 33.40 | 12.23 | -138.62 | -61.91 | -8.85 |
| Shares Outstanding | 385.88 | 350.87 | 350.86 | 311.41 | 197.60 | 138.57 | 115.57 | 38.48 | 38.48 |
| Market Capitalization | 2,402.54 | 2,402.54 | 2,098.73 | 1,360.86 | 808.18 | 532.12 | 532.12 | - | - |
Income statement, quarterly
| Metric | 2026Q2 | 2026Q1 | 2025Q4 | 2025Q3 | 2025Q2 | 2025Q1 | 2024Q4 | 2024Q3 |
|---|---|---|---|---|---|---|---|---|
| Total Revenue | 328.82 | 145.92 | 195.04 | 180.26 | 264.16 | 68.91 | 91.69 | 88.51 |
| Cost of Goods Sold Incl. D&A | 172.67 | 114.61 | 90.70 | 68.47 | 63.11 | 46.90 | 35.98 | 36.36 |
| Gross Profit | 156.15 | 31.31 | 104.33 | 111.79 | 201.06 | 22.01 | 55.70 | 52.15 |
| Selling, General and Administrative Excl. Other | 24.14 | 23.30 | 27.70 | 20.60 | 19.24 | 17.07 | 16.33 | 16.33 |
| Operating Income | 132.00 | 8.01 | 76.64 | 91.19 | 181.81 | 4.94 | 39.38 | 35.82 |
| Interest Expense | 21.34 | 28.28 | 27.06 | 14.67 | - | 2.18 | 1.77 | 3.64 |
| Unusual Expense | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Income Before Taxes | 108.92 | -8.02 | 58.13 | 78.06 | 190.53 | 3.19 | 40.59 | 30.93 |
| Income Taxes | -1.48 | 0.23 | 2.45 | 2.55 | 2.45 | 1.30 | 0.85 | 0.54 |
| Consolidated Net Income | 110.40 | -8.25 | 55.68 | 75.51 | 188.08 | 1.89 | 39.74 | 30.39 |
| Net Income From Continuing Operations | 110.40 | -8.25 | 55.68 | 75.51 | 188.08 | 1.89 | 39.74 | 30.39 |
| Net Income | 110.40 | -8.25 | 55.68 | 75.51 | 188.08 | 1.89 | 39.74 | 30.39 |
| EPS (Recurring) | 0.29 | -0.02 | 0.16 | 0.20 | 0.53 | 0.01 | 0.11 | 0.09 |
| EPS (Basic, Before Extraordinaries) | 0.29 | -0.02 | 0.16 | 0.22 | 0.54 | 0.01 | 0.11 | 0.09 |
| EPS (Diluted) | 0.29 | -0.02 | 0.16 | 0.20 | 0.53 | 0.01 | 0.11 | 0.09 |
| EBITDA | 186.85 | 53.79 | 116.06 | 125.20 | 210.96 | 24.75 | 64.56 | 46.70 |
| Non-Operating Income (Expense) | -1.74 | 12.25 | 8.55 | 1.54 | 8.72 | 0.43 | 2.98 | -1.25 |
| Other After Tax Adjustments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Stock Option Compensation Expense | 0.67 | 0.61 | 0.42 | 0.46 | 0.43 | 0.50 | 0.40 | 0.41 |
| Price To Earnings Ratio | 10.62 | 6.64 | 5.10 | 7.43 | 17.07 | 23.12 | 92.71 | 109.92 |
| Price To Sales Ratio | 2.49 | 2.59 | 2.37 | 3.14 | 3.39 | 5.35 | 7.29 | - |
| Gross Margin | 47.49 | 21.46 | 53.49 | 62.01 | 76.11 | 31.95 | 60.76 | 58.92 |
| Operating Margin | 40.14 | 5.49 | 39.29 | 50.59 | 68.83 | 7.17 | 42.95 | 40.47 |
| Net Margin | 33.57 | -5.65 | 28.55 | 41.89 | 71.20 | 2.75 | 43.34 | 34.34 |
| Shares Outstanding | 385.88 | 385.96 | 350.87 | 350.48 | 350.48 | 350.86 | 350.86 | 350.96 |
| Market Capitalization | 2,402.54 | 2,134.15 | 1,556.13 | 1,933.25 | 1,613.97 | 1,613.97 | 2,098.73 | 2,488.29 |
Balance sheet, annual
| Metric | 2025FY | 2024FY | 2023FY | 2022FY | 2021FY | 2020FY | 2019FY | 2018FY |
|---|---|---|---|---|---|---|---|---|
| Cash & Short Term Investments | 178.14 | 60.54 | 106.72 | 20.29 | 2.62 | 77.86 | 1.40 | 0.45 |
| Short Term Receivables | 259.50 | 104.17 | 43.57 | 40.82 | 23.17 | 23.74 | 18.44 | 28.30 |
| Inventories | 4.16 | 1.08 | 2.03 | 0.59 | 0.50 | 0.38 | 0.29 | 0.96 |
| Other Current Assets | 16.19 | 29.53 | 10.56 | 1.81 | 1.70 | 0.23 | 0.10 | 0.13 |
| Total Current Assets | 457.98 | 195.31 | 162.88 | 63.51 | 28.00 | 102.22 | 20.22 | 29.85 |
| Net Property, Plant & Equipment | 3,464.23 | 1,783.76 | 1,200.32 | 647.28 | 454.37 | 309.64 | 104.33 | 124.06 |
| Total Investments and Advances | 2.84 | 6.83 | 0.37 | 3.60 | 0.00 | 0.00 | 0.00 | 0.00 |
| Intangible Assets | 22.82 | 18.84 | 18.72 | 0.45 | 0.46 | 0.00 | 0.00 | 0.00 |
| Other Assets | 64.84 | 1.05 | 1.35 | 0.25 | 0.22 | 0.25 | 0.24 | 0.24 |
| Total Assets | 4,012.72 | 2,005.78 | 1,383.64 | 715.09 | 483.04 | 412.11 | 124.79 | 154.15 |
| Short Term Debt Incl. Current Port. of LT Debt | 137.63 | 33.59 | 1.55 | 1.12 | 32.86 | 12.14 | 17.42 | 16.53 |
| Accounts Payable | 26.29 | 11.99 | 9.28 | 4.25 | 3.18 | 5.34 | 1.46 | 1.14 |
| Income Tax Payable | 4.27 | 0.78 | 1.35 | 0.01 | 0.01 | 0.00 | 1.83 | 0.17 |
| Other Current Liabilities | 244.13 | 81.68 | 47.05 | 7.22 | 25.20 | 13.89 | 14.33 | 8.39 |
| Total Current Liabilities | 412.33 | 128.04 | 59.23 | 12.59 | 61.25 | 31.36 | 35.05 | 26.23 |
| Long Term Debt | 1,770.02 | 569.06 | 226.64 | 121.91 | 50.81 | 78.76 | 98.72 | 115.66 |
| Provision for Risks Charges | 0.00 | 0.00 | 5.32 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Deferred Tax Liabilities | 15.57 | 12.40 | 11.26 | - | - | - | - | - |
| Other Liabilities | 48.80 | 18.59 | 21.80 | 3.66 | 1.10 | 7.02 | 5.72 | 0.07 |
| Total Liabilities | 2,246.72 | 728.08 | 324.24 | 138.17 | 113.16 | 117.15 | 139.49 | 141.96 |
| Non-Equity Reserves | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Preferred Stock - Carrying Value | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Common Equity | 1,765.99 | 1,277.70 | 1,059.40 | 576.92 | 369.88 | 294.95 | -14.70 | 12.19 |
| Total Shareholders Equity | 1,765.99 | 1,277.70 | 1,059.40 | 576.92 | 369.88 | 294.95 | -14.70 | 12.19 |
| Accumulated Minority Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Equity | 1,765.99 | 1,277.70 | 1,059.40 | 576.92 | 369.88 | 294.95 | -14.70 | 12.19 |
| Total Liabilities & Stockholders Equity | 4,012.72 | 2,005.78 | 1,383.64 | 715.09 | 483.04 | 412.11 | 124.79 | 154.15 |
| Book Value Per Share | 5.03 | 3.64 | 3.40 | 2.92 | 2.67 | 2.55 | -0.38 | 0.32 |
| Tangible Book Value Per Share | 4.97 | 3.59 | 3.34 | 2.92 | 2.67 | 2.55 | -0.38 | 0.32 |
| Full-Time Employees | 1,073 | 659 | 570 | 162 | 148 | - | 36 | 34 |
| Price to Book Ratio | 1.29 | 1.66 | 1.17 | 1.54 | 0.22 | 0.22 | - | - |
| Return on Assets | 10.51 | 4.15 | 1.18 | 6.24 | 1.97 | -11.48 | -19.07 | - |
| Return on Equity | 20.78 | 6.02 | 1.52 | 7.89 | 2.65 | -21.99 | - | - |
| Return on Invested Capital | 8.94 | 3.81 | 0.97 | 5.35 | 2.09 | -8.25 | -31.66 | -5.85 |
| Quick Ratio | 1.10 | 1.52 | 2.72 | 5.00 | 0.45 | 3.25 | 0.57 | 1.10 |
| Current Ratio | 1.11 | 1.53 | 2.75 | 5.04 | 0.46 | 3.26 | 0.58 | 1.14 |
Cash flow, annual
| Metric | TTM | 2025FY | 2024FY | 2023FY | 2022FY | 2021FY | 2020FY | 2019FY | 2018FY |
|---|---|---|---|---|---|---|---|---|---|
| Net Income | 237.98 | 316.21 | 70.38 | 12.43 | 37.35 | 8.81 | -30.82 | -26.60 | -7.48 |
| Depreciation | 174.91 | 121.34 | 61.22 | 24.92 | 23.84 | 19.48 | 17.65 | 17.51 | 18.45 |
| Other Funds (Non Cash) | -34.96 | -39.13 | -17.02 | 1.64 | -4.74 | 0.49 | -14.07 | 5.32 | 8.91 |
| Funds from Operations | 379.42 | 399.88 | 114.58 | 38.99 | 56.45 | 28.77 | -27.23 | -3.77 | 19.88 |
| Extraordinary Item | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in Working Capital | 3.75 | -18.72 | -35.17 | 21.81 | -32.00 | 2.28 | 11.58 | -4.10 | -12.01 |
| Cash from Operating Activities | 383.18 | 381.15 | 79.41 | 60.80 | 24.45 | 31.05 | -15.66 | -7.87 | 7.87 |
| Capital Expenditures | -861.50 | -1,426.56 | -666.27 | -72.36 | -236.90 | -193.11 | -291.99 | -0.07 | -0.20 |
| Net Assets From Acquisitions | 0.00 | 0.00 | 0.00 | 11.25 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sale of Fixed Assets and Businesses | 0.00 | 0.00 | 0.00 | 1.95 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Purchase or Sale of Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Purchase of Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sale Or Maturity of Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Uses | -2.55 | -0.14 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Sources | 1.46 | 0.00 | 0.22 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from Investing Activities | -862.59 | -1,426.71 | -666.05 | -59.17 | -236.90 | -193.11 | -291.99 | -0.07 | -0.20 |
| Cash Dividends Paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Change in Capital Stock | 197.37 | -1.94 | 162.97 | -7.52 | 187.15 | 91.09 | 320.39 | 0.00 | 0.00 |
| Repurchase of Common Pref Stock | -0.65 | -1.94 | -1.39 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sale of Common Pref Stock | 198.02 | 0.00 | 164.35 | -7.52 | 187.15 | 91.09 | 320.39 | 0.00 | 0.00 |
| Proceedsfrom Stock Options | 198.02 | 0.00 | 164.35 | -7.52 | 187.15 | 91.09 | 320.39 | 0.00 | 0.00 |
| Issuance or Reduction of Debt, Net | - | 1,160.12 | 381.81 | 91.82 | 43.09 | -1.18 | 83.55 | 0.00 | 0.00 |
| Change in Long Term Debt | - | - | - | - | - | - | 0.00 | 0.00 | 0.00 |
| Issuance of Long Term Debt | - | - | - | - | - | - | 0.00 | 0.00 | 0.00 |
| Reduction of Long Term Debt | - | - | - | - | - | - | 0.00 | 0.00 | 0.00 |
| Net Financing Active Other Cash Flow | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -12.36 | 25.44 | 8.54 |
| Other Financing Activities Uses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -12.36 | 0.00 | 0.00 |
| Cash from Financing Activities | 663.03 | 1,155.85 | 542.66 | 83.69 | 230.01 | 89.57 | 378.77 | 8.89 | -8.14 |
| Exchange Rate Effect | 2.72 | 3.05 | 2.72 | -1.44 | - | - | - | - | - |
| Net Change in Cash | 186.34 | 113.34 | -41.26 | 83.89 | 17.55 | -72.49 | 71.13 | - | - |
| Free Cash Flow | -446.27 | -1,013.40 | -586.42 | -11.52 | -212.21 | -161.54 | -307.65 | -7.94 | 7.67 |
| Preferred Dividends (Cash Flow) | - | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Deferred Taxes & Investment Tax Credit | - | 1.45 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Balance sheet, quarterly
| Metric | 2026Q2 | 2026Q1 | 2025Q4 | 2025Q3 | 2025Q2 | 2025Q1 |
|---|---|---|---|---|---|---|
| Cash & Short Term Investments | 235.74 | 254.98 | 178.14 | 255.86 | 62.25 | 101.65 |
| Short Term Receivables | 248.73 | 213.64 | 259.50 | 184.53 | 312.06 | 140.31 |
| Inventories | 4.76 | 4.36 | 4.16 | 3.37 | 2.66 | 3.87 |
| Other Current Assets | 25.23 | 17.43 | 16.19 | 20.96 | 37.01 | 15.57 |
| Total Current Assets | 514.46 | 490.41 | 457.98 | 464.72 | 413.98 | 261.40 |
| Net Property, Plant & Equipment | 3,450.22 | 3,490.00 | 3,464.23 | 3,100.45 | 2,812.17 | 2,375.35 |
| Total Investments and Advances | 3.46 | 7.72 | 2.84 | 1.70 | 1.08 | 3.17 |
| Intangible Assets | 22.12 | 22.46 | 22.82 | 22.66 | 22.43 | 20.14 |
| Other Assets | 61.71 | 63.04 | 64.84 | 1.34 | 1.28 | 1.18 |
| Total Assets | 4,051.96 | 4,073.62 | 4,012.72 | 3,590.87 | 3,250.94 | 2,661.23 |
| Short Term Debt Incl. Current Port. of LT Debt | 154.64 | 145.63 | 137.63 | 282.77 | 242.39 | 69.75 |
| Accounts Payable | 79.36 | 88.67 | 115.34 | 54.65 | 61.32 | 39.16 |
| Income Tax Payable | 0.44 | 4.78 | 4.27 | 3.91 | 4.52 | 2.58 |
| Other Current Liabilities | 82.57 | 136.61 | 155.09 | 94.88 | 111.82 | 107.80 |
| Total Current Liabilities | 317.01 | 375.70 | 412.33 | 436.21 | 420.05 | 219.28 |
| Long Term Debt | 1,681.07 | 1,691.67 | 1,770.02 | 1,401.03 | 1,178.23 | 1,086.15 |
| Provision for Risks Charges | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Deferred Tax Liabilities | 14.37 | 14.85 | 15.57 | 16.18 | 14.05 | 12.51 |
| Other Liabilities | 11.76 | 53.61 | 48.80 | 38.42 | 29.35 | 19.46 |
| Total Liabilities | 2,024.21 | 2,135.82 | 2,246.72 | 1,891.83 | 1,641.68 | 1,337.40 |
| Non-Equity Reserves | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Preferred Stock - Carrying Value | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Common Equity | 2,027.75 | 1,937.80 | 1,765.99 | 1,699.04 | 1,609.26 | 1,323.83 |
| Total Shareholders Equity | 2,027.75 | 1,937.80 | 1,765.99 | 1,699.04 | 1,609.26 | 1,323.83 |
| Accumulated Minority Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Equity | 2,027.75 | 1,937.80 | 1,765.99 | 1,699.04 | 1,609.26 | 1,323.83 |
| Total Liabilities & Stockholders Equity | 4,051.96 | 4,073.62 | 4,012.72 | 3,590.87 | 3,250.94 | 2,661.23 |
| Book Value Per Share | 5.25 | 5.02 | 5.03 | 4.85 | 4.59 | 3.77 |
| Tangible Book Value Per Share | 5.20 | 4.96 | 4.97 | 4.78 | 4.53 | 3.72 |
| Full-Time Employees | - | - | 1,073 | - | - | - |
| Price to Book Ratio | 1.29 | 1.21 | 0.92 | 1.20 | 1.22 | 1.26 |
| Return on Assets | 6.39 | 9.24 | 10.67 | 10.84 | 10.50 | 4.44 |
| Return on Equity | 12.83 | 19.07 | 21.10 | 20.60 | 18.30 | 7.48 |
| Return on Invested Capital | 2.98 | -0.23 | 1.57 | 2.44 | 6.75 | 0.08 |
| Quick Ratio | 1.61 | 1.29 | 1.10 | 1.06 | 0.98 | 1.17 |
| Current Ratio | 1.62 | 1.31 | 1.11 | 1.07 | 0.99 | 1.19 |
Cash flow, quarterly
| Metric | 2026Q2 | 2026Q1 | 2025Q4 | 2025Q3 | 2025Q2 | 2025Q1 |
|---|---|---|---|---|---|---|
| Net Income | 110.43 | -8.25 | 54.43 | 81.36 | 188.20 | 1.89 |
| Depreciation | 54.55 | 45.78 | 39.01 | 35.57 | 30.67 | 19.81 |
| Other Funds (Non Cash) | -3.13 | -9.71 | -7.00 | -15.12 | -17.99 | -0.21 |
| Funds from Operations | 161.86 | 27.82 | 85.84 | 103.91 | 201.29 | 21.08 |
| Extraordinary Item | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in Working Capital | -140.02 | -2.33 | 12.82 | 133.28 | -161.13 | -4.27 |
| Cash from Operating Activities | 21.84 | 25.49 | 98.67 | 237.19 | 40.16 | 16.81 |
| Capital Expenditures | -47.56 | -106.66 | -382.10 | -325.18 | -271.76 | -491.19 |
| Net Assets From Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sale of Fixed Assets and Businesses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Purchase or Sale of Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.08 | -0.08 |
| Purchase of Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.08 | -0.08 |
| Sale Or Maturity of Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Uses | -2.46 | -0.03 | 0.00 | -0.07 | -0.09 | 0.00 |
| Other Sources | 0.86 | 0.61 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from Investing Activities | -49.16 | -106.08 | -382.10 | -325.25 | -271.77 | -491.28 |
| Cash Dividends Paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Preferred Dividends (Cash Flow) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Change in Capital Stock | -1.96 | 199.37 | 0.01 | -0.06 | -1.94 | 0.00 |
| Repurchase of Common Pref Stock | -0.60 | 0.00 | 0.01 | -0.06 | -1.94 | 0.00 |
| Sale of Common Pref Stock | -1.36 | 199.37 | 0.00 | 0.00 | 0.00 | 0.00 |
| Proceedsfrom Stock Options | -1.36 | 199.37 | 0.00 | 0.00 | 0.00 | 0.00 |
| Issuance or Reduction of Debt, Net | 11.38 | -35.66 | 211.39 | 281.33 | 190.11 | 512.81 |
| Net Financing Active Other Cash Flow | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Financing Activities Uses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from Financing Activities | 8.82 | 162.89 | 211.00 | 280.32 | 187.94 | 511.97 |
| Exchange Rate Effect | 0.43 | -0.85 | 3.14 | 0.00 | - | - |
| Net Change in Cash | -18.07 | 81.45 | -69.30 | 192.26 | -43.67 | 37.51 |
| Free Cash Flow | -25.76 | -80.95 | -251.89 | -87.67 | -231.00 | -473.86 |
Revenue breakdown
| Other Revenue, Including Fees Earned for Early Termination of Contracts by Customers | 2024: 24.01M 2025: 146.52M |
|---|---|
| Time Charter Services And Transportation and Installation Services | 2024: 245.11M 2025: 553.19M |
| Americas | 2024: 95.17M 2025: 158.60M |
| Denmark | 2024: 55.26M 2025: 115.57M |
| Germany | 2025: 68.17M |
| Poland | 2025: 66.00M |
| Rest Of Europe | 2024: 5.39M 2025: 4.03M |
| Taiwan | 2024: 39.18M 2025: 138.81M |
| United Kingdom | 2024: 74.13M 2025: 148.52M |
Short interest
shares short against float, oldest to newest| Settlement | Of float | Shares short | Float | Avg volume |
|---|---|---|---|---|
| 2026-10-30 | 0.36% | 0.8M | 227.4M | 69.86K |
| 2026-10-15 | 1.08% | 1.0M | 96.5M | 74.12K |
| 2026-09-30 | 1.08% | 1.0M | 96.4M | 78.49K |
| 2026-09-15 | 1.12% | 1.1M | 96.4M | 82.09K |
| 2026-08-31 | 1.10% | 1.1M | 96.4M | 84.62K |
| 2026-08-14 | 1.09% | 1.1M | 96.5M | 93.09K |
| 2026-07-31 | 1.06% | 1.0M | 96.5M | 94.18K |
| 2026-07-15 | 1.06% | 1.0M | 96.5M | 92.29K |
| 2026-06-30 | 0.89% | 0.9M | 96.5M | 86.76K |
| 2026-06-15 | 0.84% | 0.8M | 96.5M | 90.12K |
| 2026-05-29 | 0.77% | 0.7M | 96.5M | 92.48K |
| 2026-05-15 | 0.69% | 0.7M | 96.5M | 87.01K |
| 2026-04-30 | 0.76% | 0.7M | 96.5M | 97.95K |
| 2026-04-15 | 0.74% | 0.7M | 96.5M | 110.14K |
| 2026-03-31 | 0.69% | 0.7M | 96.5M | 120.78K |
| 2026-03-13 | 0.87% | 0.8M | 87.6M | 119.28K |
| 2026-02-27 | 0.85% | 0.7M | 87.6M | 173.28K |
| 2026-02-13 | 0.84% | 0.7M | 87.6M | 190.65K |
| 2026-01-30 | 0.85% | 0.7M | 87.6M | 196.94K |
| 2026-01-15 | 0.95% | 0.8M | 87.6M | 186.60K |
Option chain
expiry 2026-11-11| Type | Strike | Bid | Ask | Last | IV | Open int | Volume | Delta | Theta | Vega |
|---|---|---|---|---|---|---|---|---|---|---|
| No option chain for this symbol. | ||||||||||
Latest SEC filings
30| Filed | Form | Description | Period | Link |
|---|---|---|---|---|
| 2026-11-09 | 6-K | Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16 | 2026-11-09 | SEC |
| 2026-11-06 | SCHEDULE 13D | SEC | ||
| 2026-11-05 | 6-K | Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16 | 2026-11-05 | SEC |
| 2026-11-05 | 8-K12B | 2026-11-05 | SEC | |
| 2026-11-05 | 6-K | Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16 | 2026-11-05 | SEC |
| 2026-11-04 | 6-K | Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16 | 2026-11-04 | SEC |
| 2026-11-04 | 6-K | Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16 | 2026-11-04 | SEC |
| 2026-11-04 | 6-K | Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16 | 2026-11-04 | SEC |
| 2026-11-04 | 6-K | Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16 | 2026-11-04 | SEC |
| 2026-11-02 | SC TO-T/A | SEC | ||
| 2026-11-02 | 425 | Filing under Securities Act Rule 425 of certain prospectuses and communications in connection with business combination transactions. | SEC | |
| 2026-10-29 | SC TO-T/A | SEC | ||
| 2026-10-29 | 425 | Filing under Securities Act Rule 425 of certain prospectuses and communications in connection with business combination transactions. | SEC | |
| 2026-10-29 | 425 | Filing under Securities Act Rule 425 of certain prospectuses and communications in connection with business combination transactions. | SEC | |
| 2026-10-28 | 425 | Filing under Securities Act Rule 425 of certain prospectuses and communications in connection with business combination transactions. | SEC | |
| 2026-10-22 | SC TO-T/A | SEC | ||
| 2026-10-22 | 425 | Filing under Securities Act Rule 425 of certain prospectuses and communications in connection with business combination transactions. | SEC | |
| 2026-10-21 | 425 | Filing under Securities Act Rule 425 of certain prospectuses and communications in connection with business combination transactions. | SEC | |
| 2026-09-22 | EFFECT | Effectiveness filing by commission order | SEC | |
| 2026-09-22 | SC TO-T | Third party tender offer statement | SEC | |
| 2026-09-22 | 425 | Filing under Securities Act Rule 425 of certain prospectuses and communications in connection with business combination transactions. | SEC | |
| 2026-09-22 | 425 | Filing under Securities Act Rule 425 of certain prospectuses and communications in connection with business combination transactions. | SEC | |
| 2026-09-22 | 425 | Filing under Securities Act Rule 425 of certain prospectuses and communications in connection with business combination transactions. | SEC | |
| 2026-09-22 | 424B3 | SEC | ||
| 2026-09-21 | 425 | Filing under Securities Act Rule 425 of certain prospectuses and communications in connection with business combination transactions. | SEC | |
| 2026-09-18 | F-4/A | SEC | ||
| 2026-09-14 | F-4/A | SEC | ||
| 2026-08-28 | 425 | Filing under Securities Act Rule 425 of certain prospectuses and communications in connection with business combination transactions. | SEC | |
| 2026-08-27 | F-4 | Registration statement for securities issued by foreign private issuers in certain business combination transactions | SEC | |
| 2026-05-15 | DRS/A | SEC |
Insider activity by month
| Month | Bought | Buys | Sold | Sells |
|---|---|---|---|---|
| 2026-11 | 0 | 0 | 0 | 0 |
| 2026-10 | 0 | 0 | 0 | 0 |
| 2026-09 | 0 | 0 | 0 | 0 |
| 2026-08 | 0 | 0 | 0 | 0 |
| 2026-07 | 0 | 0 | 0 | 0 |
| 2026-06 | 0 | 0 | 0 | 0 |
| 2026-05 | 0 | 0 | 0 | 0 |
| 2026-04 | 0 | 0 | 0 | 0 |
| 2026-03 | 0 | 0 | 0 | 0 |
| 2026-02 | 0 | 0 | 0 | 0 |
| 2026-01 | 0 | 0 | 0 | 0 |
| 2025-12 | 0 | 0 | 0 | 0 |
| 2025-11 | 0 | 0 | 0 | 0 |
Institutional holders
| Manager | % owned |
|---|---|
| Condire Management, LP | 0.56% |
| VALUEWORKS LLC | 0.52% |
| STOREBRAND ASSET MANAGEMENT AS | 0.39% |
| Invesco Ltd. | 0.35% |
| FRANKLIN RESOURCES INC | 0.19% |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | 0.15% |
| Qube Research & Technologies Ltd | 0.11% |
| Yaupon Capital Management LP | 0.10% |
| DIMENSIONAL FUND ADVISORS LP | 0.08% |
| DnB Asset Management AS | 0.08% |
Funds
| Fund | % owned |
|---|---|
| Steward Values Enhanced International Fund | 0.02% |
| ActivePassive International Equity ETF | 0.01% |
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