SBM Offshore NVHAM:IHCB -2.00%73 Net Margin % is 19.59% as of Dec. 2025, which is 110% above its 10-year median of 9.31. GuruFocus rates HAM:IHCB with a GF Score™ of 73/100 and a GF Value™ of €20.82 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 916 Oil & Gas companies, SBM Offshore NV ranks better than 77.29% on this metric.
The historical rank and industry rank for SBM Offshore NV's Net Margin % or its related term are showing as below:
HAM:IHCB'
s Net Margin % Range Over the Past 10 Years
Min: -8.33 Med: 9.31 Max: 15.62
Current: 15.59
HAM:IHCB's Net Margin % is ranked better than 77.29% of 916
companies
in the Oil & Gas industry
Industry Median: 3.435
vs HAM:IHCB: 15.59
SBM Offshore NV (HAM:IHCB) Net Margin % Explanation
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
SBM Offshore NV Net Margin % Related Terms
SBM Offshore NV Net Margin % Historical Data
* Premium members only.
The historical data trend for SBM Offshore NV's Net Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
HAM:IHCB vs SLB, BKR, HAL: Net Margin % Comparison
For the Oil & Gas Equipment & Services subindustry, SBM Offshore NV's Net Margin %, along with its competitors' market caps and Net Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
SBM Offshore NV Net Margin % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, SBM Offshore NV's Net Margin % distribution charts can be found below:
* The bar in red indicates where SBM Offshore NV's Net Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
SBM Offshore NV (HAM:IHCB) has a Net Margin % of 19.59% as of Dec. 2025. Net margin is the ratio of total net income to net sales. View historical data on SBM Offshore NV and its competitors. This is 110% above median its historical median of 9.31. According to the industry distribution chart, SBM Offshore NV ranks #208 out of 916 companies in the Oil & Gas industry, placing it in the top 22.7%.
Is SBM Offshore NV's Net Margin % too high?
SBM Offshore NV's current Net Margin % of 19.59% is 110% above median its 10-year median of 9.31. The Oil & Gas industry median Net Margin % is 3.44. SBM Offshore NV's value of 19.59% is 470.3% above this industry median. Based on the distribution chart, SBM Offshore NV ranks #208 out of 916 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, SBM Offshore NV has a GF Score™ of 73/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does SBM Offshore NV's Net Margin % compare to SLB and BKR?
According to the Oil & Gas industry distribution chart, SBM Offshore NV ranks #208 out of 916 companies for Net Margin %. This places SBM Offshore NV in the top 23% of its industry — outperforming the majority of peers. The industry median Net Margin % is 3.44. SBM Offshore NV's value of 19.59% is 470.3% above this benchmark. While the company's 10-year median is 9.31 vs. the industry median of 3.44, SBM Offshore NV has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Margin % for an Oil & Gas company?
The median Net Margin % among Oil & Gas companies is 3.44, based on 916 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. SBM Offshore NV's current Net Margin % of 19.59% is 470.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on SBM Offshore NV and its competitors. For the Oil & Gas industry, the median Net Margin % is 3.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SBM Offshore NV's current Net Margin % is 19.59%, which is 110% above median its own 10-year median of 9.31. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SBM Offshore NV stock overvalued right now?
Based on GuruFocus' analysis, SBM Offshore NV (HAM:IHCB) is currently considered Significantly Overvalued. The stock's GF Value™ is €20.82, compared to a current price of €32.28 — trading 55% above its estimated fair value. The current Net Margin % is 19.59%, which is 110% above median its 10-year median of 9.31 and 470.3% above the Oil & Gas industry median of 3.44. SBM Offshore NV's overall GF Score™ is 73/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For SBM Offshore NV (HAM:IHCB), the current Net Margin % is 19.59% as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is SBM Offshore NV (HAM:IHCB) Overvalued in 2026?
Based on GuruFocus' analysis, SBM Offshore NV stock appears to be overvalued.
The current stock price of €32.28 is trading 55% above its estimated GF Value™ of €20.82.
GuruFocus considers SBM Offshore NV to be Significantly Overvalued.
Key valuation signals for HAM:IHCB:
Net Margin %: 19.59% (110% above median its 10-year median of 9.31)
GF Value™: €20.82 vs. price of €32.28 (55% above fair value)
Industry Position: 470.3% above the Oil & Gas median (#208 of 916)
No single metric tells the full story. See the HAM:IHCB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
SBM Offshore NV provides floating production solutions to the offshore energy industry both in hydrocarbon and renewable markets. Its main activities are the design, supply, installation, operation, and life extension of Floating Production Storage and Offloading (FPSO) vessels. The company is also working on floating offshore wind, wave energy, and research and development of products for future energy markets. It has dedicated product lines to provide specific floating equipment and products such as Turret Mooring Systems (TMS) and offshore (off)loading Terminals. The company has two segments: Lease and Operate segment includes all earned day rates on operating lease and operate contracts, and the turnkey segment includes revenues from Turnkey supply contracts and after-sales services.
73GF Score
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