Cmb.tech NV key statistics and ratios

In fiscal 2025, Cmb.tech NV had return on equity of 8.4%, an operating margin of 33.4%, debt equal to 211.6% of equity and a current ratio of 0.86. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Cmb.tech NV: financial ratios, annual
Fiscal year	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Operating margin	41.6%	30.4%	2.6%	−12.4%	21.4%	44.1%	−67.1%	34.4%	78.5%	106.6%	33.4%
Net margin	41.4%	29.8%	0.3%	−18.3%	12.3%	39.1%	−80.7%	23.8%	69.5%	92.6%	9.6%
Free-cash-flow margin	—	—	—	—	25.3%	80.1%	−6.0%	29.9%	67.8%	48.7%	26.6%
Return on equity	18.4%	10.8%	0.1%	−5.4%	4.9%	20.5%	−15.9%	9.8%	37.9%	49.1%	8.4%
Return on assets	—	6.7%	0.0%	−3.2%	2.7%	12.1%	−9.1%	5.3%	23.2%	23.8%	2.6%
Asset turnover	—	0.22	0.18	0.17	0.22	0.31	0.11	0.22	0.33	0.26	0.27
Current ratio	—	1.97	1.77	1.82	2.54	2.22	1.43	2.39	3.84	1.20	0.86
Debt to equity	55.2%	57.5%	48.7%	78.2%	75.5%	55.1%	87.3%	78.0%	39.5%	219.9%	211.6%
Interest cover (operating income ÷ interest)	—	—	—	—	40.7x	162.6x	n/m	—	—	—	157.5x
Effective tax rate	1.6%	−0.1%	—	—	0.5%	0.4%	—	1.4%	0.7%	0.2%	6.8%
R&D as % of revenue	—	—	—	—	—	—	—	—	—	1.1%	0.4%
Capital spending as % of revenue	—	—	—	—	4.4%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Free cash flow ÷ net income	—	—	—	—	206.2%	204.9%	—	125.7%	97.6%	52.6%	276.0%
Dividends ÷ net income	39.4%	106.3%	>999%	—	23.2%	74.4%	—	11.9%	73.5%	129.4%	12.5%
Dividends and buybacks ÷ free cash flow	—	—	—	—	11.2%	36.3%	—	9.5%	75.3%	246.0%	4.5%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

1 of 6 checks passed · December 31, 2025

What it owns · $8.4bn

Short-term assets $913mLonger-term assets $7.5bn

What it owes, and who funded it · $3.7bn

Short-term liabilities $1.1bnShareholders' equity $2.6bn

Short-term assets cover short-term liabilities $913m of assets due within a year against $1.1bn of liabilities due within a year.
Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
More cash than debt $147m of cash against $2.8bn of debt.
Debt below 40% of shareholders' equity Debt is 108% of equity.
Debt burden no higher than five years ago Debt to equity moved from 36% to 108% over five years.
A year's operating cash flow covers at least 20% of debt $444m of operating cash flow against $2.8bn of debt.
Operating profit covers interest at least five times over Operating income of $557m against $4m of interest.

From Cmb.tech NV's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

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Figures from Cmb.tech NV's SEC filings (10-K and 10-Q), retrieved November 2, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Cmb.tech NV.