Stock fact sheet · data as of
Cmb.Tech N.V. (CMBT): fair value, margin of safety and Wheel Score
Industrials · Marine Shipping · Belgium · ADR · High Yield Income
Is CMBT undervalued?
CMBT closed at 17.92 on 16 Oct 2026, 16% below the GLS average fair value of 21.27 from 7 models (4 of them above the price). That is a moderate margin of safety: the stock passes the "below fair value" rule of the Sunday Scan, and the Wheel Score gives it 19 of the 25 Value points.
The 7 models disagree widely: 10 Cap gives 3.51 while Graham Growth gives 48.35. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
The nightly engine files CMBT under High Yield Income: a dividend yield above 4%.
Nine valuation models for CMBT
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | - | - | Present value of the projected free cash flows, discounted at the cost of capital; no value tonight |
| Graham Number | 26.50 | +48% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 48.35 | +170% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 11.99 | -33% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 3.68 | -79% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 3.51 | -80% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | 21.56 | +20% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 33.30 | +86% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -18.04 | -201% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 0.0000 | -100% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
On financial health CMBT scores 7/9 (Piotroski): most of the nine tests - positive earnings and cash flow, falling debt, rising margins and turnover - are passed, which is the kind of balance sheet a wheel trader is happy to be assigned. The GLS Moat score is low at 2.0 out of 10, which says the ten-year record of revenue, earnings, margins and returns on capital has been inconsistent - growth and shocks rather than steady compounding.
Returns on capital are thin or negative - ROIC 2.0%, ROE 6.1%, ROA 1.9% - with debt at 2.12 times equity and negative free cash flow. Debt of 2.12 times equity is on the high side for the sector and is worth checking against the cash flow before treating the stock as a long-term hold.
The dividend yield is high at 8.44% (payout ratio 2%). A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual. Revenue comes mainly from Spot Voyages 85%, Pool Revenue 15% (fiscal year FY2025).
Institutional ownership scores 5/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 7 / 9 | ROIC | 2.0% |
|---|---|---|---|
| GLS Moat | 2.0 / 10 | ROE | 6.1% |
| Debt / equity | 2.12 | ROA | 1.9% |
| Free-cash-flow yield | -2.3% | Payout ratio | 2% |
| Institutions | 5 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 76: Good
CMBT scores 76 out of 100 on the Wheel Score (Good band, 65-79). The score blends the margin of safety (Value, 19/25), Piotroski health (16/20), the GLS moat (3/15), the option premium on offer (20/20) and how easily the stock trades (19/20). Moat (3/15) is the part holding the score back.
Implied volatility is 49% on the near-the-money contracts 20-60 days out - inside the 35-60% range the Wheel Score pays full marks for: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is 31,042 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 2.5M shares a day on a market cap of $5.2B, with a beta of 0.14 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 19 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 19 / 25 | 16% margin of safety | |
| Health | 16 / 20 | Piotroski 7/9 | |
| Moat | 3 / 15 | moat 2.0/10 | |
| Premium | 20 / 20 | implied volatility 49% | |
| Stability | 19 / 20 | 2.5M shares/day, $5.2B cap, beta 0.14 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 26 Nov 2026 (before the open), 41 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium. The shares go ex-dividend on 16 Oct 2026 (0.2100 per share), so a covered call sold before then carries a small early-assignment risk around that date.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Marine Shipping
The 12 companies below are the closest to Cmb.Tech N.V. by market cap within the Marine Shipping industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| HAFN Hafnia Limited | 10.11 | 23.59 | +57% | 84Prime | $5.3B |
| INSW International Seaways, Inc. | 113.11 | 133.59 | +15% | 74Good | $5.6B |
| STNG Scorpio Tankers Inc. | 85.98 | 178.00 | +52% | 86Prime | $4.3B |
| TRMD TORM plc | 39.91 | 58.25 | +31% | 83Prime | $4.1B |
| MATX Matson, Inc. | 236.86 | 129.10 | -83% | 59Fair | $7.1B |
| DHT DHT Holdings, Inc. | 23.43 | 40.72 | +42% | 82Prime | $3.8B |
| KEX Kirby Corporation | 137.15 | 227.61 | +40% | 86Prime | $7.2B |
| BWLP BW LPG Limited | 24.48 | 86.91 | +72% | 39No options | $3.7B |
| ZIM ZIM Integrated Shipping Services Ltd. | 29.84 | 70.48 | +58% | 79Good | $3.6B |
| TNK Teekay Tankers Ltd. | 101.56 | 150.97 | +33% | 78Good | $3.5B |
| SBLK Star Bulk Carriers Corp. | 28.77 | 32.78 | +12% | 77Good | $3.2B |
| ECO Okeanis Eco Tankers Corp. | 89.18 | 94.88 | +6% | 70Good | $2.9B |
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Start free See the Sunday ScanQuestions about CMBT
Is CMBT undervalued right now?
By the GLS models, moderately: at 17.92 the stock trades 16% below the average fair value of 21.27 (data as of 16 Oct 2026).
What is the Wheel Score of CMBT and what does it mean?
CMBT scores 76 out of 100 (Good). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for CMBT?
21.27 per share as of 16 Oct 2026 - the simple average of the 7 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Cmb.Tech N.V. report earnings next?
The next earnings report is due on 26 Nov 2026 (before the open), 41 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does CMBT have listed options, and how liquid are they?
Yes. The nightly snapshot found 154 listed contracts with 31,042 open interest across all expiries and implied volatility of 49% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.