SFL Corporation Ltd (UG6) - Net Assets

Latest as of December 2025: €960.86 Million EUR ≈ $1.12 Billion USD

Based on the latest financial reports, SFL Corporation Ltd (UG6) has net assets worth €960.86 Million EUR (≈ $1.12 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€3.64 Billion ≈ $4.25 Billion USD) and total liabilities (€2.68 Billion ≈ $3.13 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check tangible equity quality of SFL Corporation Ltd to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	€960.86 Million
% of Total Assets	26.41%
Annual Growth Rate	-1.65%
5-Year Change	-2.19%
10-Year Change	-15.27%
Growth Volatility	13.4

SFL Corporation Ltd - Net Assets Trend (2014–2025)

This chart illustrates how SFL Corporation Ltd's net assets have evolved over time, based on quarterly financial data. See defensive interval ratio of SFL Corporation Ltd to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for SFL Corporation Ltd (2014–2025)

The table below shows the annual net assets of SFL Corporation Ltd from 2014 to 2025. For live valuation and market cap data, see SFL Corporation Ltd market capitalisation.

Year	Net Assets	Change
2025-12-31	€960.86 Million ≈ $1.12 Billion	-14.85%
2024-12-31	€1.13 Billion ≈ $1.32 Billion	+8.57%
2023-12-31	€1.04 Billion ≈ $1.22 Billion	-4.75%
2022-12-31	€1.09 Billion ≈ $1.28 Billion	+11.09%
2021-12-31	€982.33 Million ≈ $1.15 Billion	+23.46%
2020-12-31	€795.65 Million ≈ $930.20 Million	-28.08%
2019-12-31	€1.11 Billion ≈ $1.29 Billion	-6.24%
2018-12-31	€1.18 Billion ≈ $1.38 Billion	-1.25%
2017-12-31	€1.19 Billion ≈ $1.40 Billion	+5.37%
2016-12-31	€1.13 Billion ≈ $1.33 Billion	-8.67%
2015-12-31	€1.24 Billion ≈ $1.45 Billion	+7.66%
2014-12-31	€1.15 Billion ≈ $1.35 Billion	--

Equity Component Analysis

This analysis shows how different components contribute to SFL Corporation Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have decreased by 111.0% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Other Components	€987.29 Million	102.75%
Total Equity	€960.86 Million	100.00%

SFL Corporation Ltd Competitors by Market Cap

The table below lists competitors of SFL Corporation Ltd ranked by their market capitalization.

Company	Market Cap
Rami Levi TA:RMLI	$1.36 Billion
Indiamart Intermesh Limited NSE:INDIAMART	$1.36 Billion
Prudent Corporate Advisory Services Limited NSE:PRUDENT	$1.36 Billion
Siam City Cement Public Company Limited BK:SCCC	$1.36 Billion
Crayon Group Holding ASA OL:CRAYN	$1.35 Billion
Sino Wealth Electronic Ltd SHE:300327	$1.35 Billion
Grainger PLC F:1U4	$1.35 Billion
Jiangling Motors Corp Ltd SHE:000550	$1.35 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in SFL Corporation Ltd's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 1,128,422,000 to 960,862,000, a change of -167,560,000 (-14.8%).
Net loss of 26,431,000 reduced equity.
Dividend payments of 125,110,000 reduced retained earnings.
Share repurchases of 10,025,000 reduced equity.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	€-26.43 Million	-2.75%
Dividends Paid	€125.11 Million	-13.02%
Share Repurchases	€10.03 Million	-1.04%
Other Changes	€-5.99 Million	-0.62%
Total Change	€-	-14.85%

Book Value vs Market Value Analysis

This analysis compares SFL Corporation Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 1.34x
The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
The price-to-book ratio has increased from 0.84x to 1.34x over the analyzed period, suggesting growing market confidence.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2017-12-31	€11.61	€9.70	x
2018-12-31	€10.97	€9.70	x
2019-12-31	€9.27	€9.70	x
2020-12-31	€6.23	€9.70	x
2021-12-31	€7.09	€9.70	x
2022-12-31	€8.61	€9.70	x
2023-12-31	€7.56	€9.70	x
2024-12-31	€8.42	€9.70	x
2025-12-31	€7.24	€9.70	x

Capital Efficiency Dashboard

This dashboard shows how efficiently SFL Corporation Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): -2.75%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: -3.68%
• Asset Turnover: 0.20x
• Equity Multiplier: 3.79x
Recent ROE (-2.75%) is below the historical average (7.21%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2014	10.65%	37.50%	0.11x	2.64x	€7.47 Million
2015	16.17%	49.38%	0.13x	2.44x	€76.65 Million
2016	12.91%	35.68%	0.14x	2.59x	€33.00 Million
2017	8.47%	26.69%	0.13x	2.52x	€-18.29 Million
2018	6.24%	17.66%	0.11x	3.29x	€-44.38 Million
2019	8.06%	19.55%	0.12x	3.51x	€-21.46 Million
2020	-28.21%	-47.64%	0.15x	3.89x	€-303.99 Million
2021	16.73%	32.01%	0.15x	3.52x	€66.11 Million
2022	18.58%	30.25%	0.17x	3.54x	€93.64 Million
2023	8.08%	11.37%	0.20x	3.59x	€-20.00 Million
2024	11.58%	14.65%	0.22x	3.64x	€17.81 Million
2025	-2.75%	-3.68%	0.20x	3.79x	€-122.52 Million

Industry Comparison

This section compares SFL Corporation Ltd's net assets metrics with peer companies in the Marine Shipping industry.

Industry Context

Industry: Marine Shipping
Average net assets among peers: $13,831,870,637
Average return on equity (ROE) among peers: 24.19%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
SFL Corporation Ltd (UG6)	€960.86 Million	10.65%	2.79x	$1.35 Billion
2020 Bulkers Ltd. (0FF)	$151.90 Million	50.23%	0.76x	$7.53 Million
EURODRY LTD. DL -01 (0LQ)	$102.51 Million	-4.16%	1.07x	$52.61 Million
Qingdao Port International Co. Ltd (0QP)	$41.28 Billion	10.96%	0.39x	$1.03 Billion
ZIM Integrated Shipping Services Ltd. (2SV)	$274.45 Million	188.74%	9.29x	$2.63 Billion
HAV GROUP ASA (6HH)	$91.39 Million	4.97%	6.50x	$41.65 Million
MERCANTILE PORTS+LOGI.LTD (9KS0)	$73.63 Million	-28.82%	0.72x	$178.16K
Ardmore Shipping Corporation (A61)	$506.44 Million	27.34%	0.43x	$651.21 Million
BW LPG Limited (BW9)	$1.60 Billion	14.24%	0.60x	$2.25 Billion
COSCO SHIPPING Holdings Co. Ltd (C6G)	$37.55 Billion	-26.38%	2.19x	$5.09 Billion
A.P.MOELL-M.B U.ADR 1/200 (DP4H)	$56.70 Billion	4.81%	0.56x	$11.30 Billion

About SFL Corporation Ltd

F:UG6 Germany Marine Shipping

Market Cap

$1.51 Billion

€1.29 Billion EUR

Market Cap Rank

#7815 Global

#1047 in Germany

Share Price

€9.70

Change (1 day)

+3.19%

52-Week Range

€5.78 - €9.70

All Time High

€12.80