CMBT
CMB.TECH NV
NYSE: CMBT · ENERGY · OIL & GAS MIDSTREAM
$14.77
+2.35% today
Updated 2026-06-05
Market cap
$4.50B
P/E ratio
8.91
P/S ratio
2.31x
EPS (TTM)
$1.74
Dividend yield
5.16%
52W range
$7 – $17
Volume
1.6M
CMB.TECH NV (CMBT) Financial Forecast & Price Target 2030
Research-backed projections from analyst consensus, management guidance, and sector analysis.
Research-backed CMBT price target 2030 projection accounting for share dilution, balance sheet debt, and time value of money.
Current price
$14.77
Today
Analyst consensus
$19.48
+31.89% · 12M
2030 Base
$-11.93
-180.77% future
NPV today
$-11.93
@ 5% WACC
3 analysts:
2 Buy1 Hold0 Sell
Management guidance
CMB.TECH has not issued explicit revenue guidance for 2026-2030, but management signaled strong near-term momentum: Q1 2026 revenue of $519.6M (121% YoY growth) with TTM revenue of $1.95B (109% YoY). The company completed the Golden Ocean merger (August 2025), adding ~250-vessel combined fleet. Management emphasized fleet rejuvenation (17 newbuilds delivered in 2025, 12 older vessels sold) and strategic contracts for ammonia-powered vessels with Fortescue and MOL, indicating commitment to alternative fuels and long-term growth in energy transition maritime.
Sources: Management guidance, analyst consensus, sector analysishigh confidence
CMBT · CMB.TECH NV · Revenue & price projection · 2023–2030E
Actual / 2030 target Projected revenue Base case price Bull to bear range
Bear case (2030)
$-11.93
NPV today: $-11.93
Base case (2030)
$-11.93
NPV today: $-11.93
Bull case (2030)
$15.13
NPV today: $11.98
WallStSmart.com
CMBT financial forecast · Research-backed projections
| Metric | 2025 | 2026 (E) | 2027 (E) | 2028 (E) | 2029 (E) | 2030 (E) ★ |
|---|---|---|---|---|---|---|
| Revenue | $1.7B | $3.1B | $4.7B | $5.8B | $6.9B | $7.8B |
| Revenue growth | 77.2% | 85.5% | 50.0% | 25.8% | 17.9% | 13.8% |
| Net margin | — | 20.1% | 18.4% | 16.9% | 15.8% | 15.2% |
| EPS | $0.25 | $2.15 | $2.95 | $3.40 | $3.75 | $4.10 |
| Diluted shares | — | 290M | 290M | 290M | 290M | 290M |
| Net debt | — | $1.24B | $3.09B | $5.43B | $8.18B | $11.31B |
| P/S multiple | — | 1.0x | 1.0x | 1.0x | 1.0x | 1.0x |
| Implied price (base) | — | $6.42 | $5.37 | $1.46 | $-4.41 | $-11.93 |
★ 2030E is the model's terminal target year. Implied price = (Revenue × P/S − Net debt) ÷ Diluted shares.
Scenario detail · Three drivers, three outcomes
| 2030E driver | Bear | Base | Bull |
|---|---|---|---|
| Revenue | $7.8B | $7.8B | $7.8B |
| P/S multiple | 1.0x | 1.0x | 2.0x |
| Diluted shares | 290M | 290M | 290M |
| Net debt | $11.31B | $11.31B | $11.31B |
| Implied P/E † | -3x | -3x | 4x |
| 2030 Price | $-11.93 | $-11.93 | $15.13 |
| NPV @ 5% | $-11.93 | $-11.93 | $11.98 |
† Implied P/E: Multiples remain elevated across all three scenarios because CMBT is valued primarily on revenue scale during its growth phase, not near-term earnings power. Lower P/E in the bear case reflects multiple compression, but the absolute level stays high since 2030E still represents a hypergrowth-to-mature transition year.
EV to per-share bridge · How we get to $-11.93 base case
CMBT catalysts and risks
Growth catalysts
+ Golden Ocean merger synergies and fleet integration (completed August 2025)
+ Ammonia-powered vessel orderbook growth (Fortescue and MOL contracts) as energy transition accelerates
+ Fleet optimization: continued sale of older VLCCs at elevated prices (e.g., 8 VLCCs sold Q4 2025 at strong prices; 2 additional VLCCs sold for $98.2M gain expected Q2 2026)
+ Tanker shipping cycle tailwinds: sustained geopolitical tensions, sanctions regimes, and shipping route lengthening supporting higher ton-mile demand
+ Contract backlog growth: $3.05B backlog as of Q4 2025 provides revenue visibility
Key risks
- Cyclical tanker shipping exposure: downturn in crude/product tanker rates if geopolitical tensions ease or global trade slows
- Integration execution risk from Golden Ocean merger; leverage elevated (Debt/Equity 1.78x) may constrain flexibility
- Ammonia-powered vessel adoption risk: unproven market demand and capex-intensive transition could reduce ROI if adoption lags expectations
- Regulatory and fuel price volatility: IMO regulations and alternative fuel cost competitiveness uncertain beyond 2027
- Vessel sales gains are non-recurring: capital gains from VLCC sales ($98M+ per ship) inflated recent profitability; ongoing operations must sustain growth
Methodology · CMB.TECH NV 2030 stock forecast model
CMB.TECH NV 2030 price target is calculated using WallStSmart's research model. Revenue projections are derived from analyst consensus across 3 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts. The model is built on five core components:
| 1. Share dilution | Projected from per-ticker schedule of SBC + equity raise activity, compounding year by year (0% cumulative for CMBT by 2030) |
| 2. Net debt | EV minus net debt yields equity value; debt projected from capex cycle trajectory ($11.31B by 2030) |
| 3. Time value | NPV calculated using 5% WACC (CAPM: beta 0.123) |
| 4. Multiple framework | P/S compresses with scale: bear 1.0x / base 1.0x / bull 2.0x |
| 5. Scenario design | Bull/Base/Bear vary revenue, margin, shares, debt, and multiple independently |
WallStSmart research model · Not financial advice · Past performance is not indicative of future results · Last researched: May 21, 2026.
CMBT price target FAQ
What is the CMBT price target for 2030?
WallStSmart's CMB.TECH NV 2030 base case is $-11.93 per share, with a bull case of $15.13 and bear case of $-11.93. The NPV of the base case discounted to today at 5% WACC is $-11.93.
How is the CMB.TECH NV 2030 stock forecast calculated?
The CMBT 2030 projection multiplies projected revenue by a growth-adjusted P/S multiple to derive enterprise value, subtracts projected net debt to get equity value, then divides by diluted shares outstanding accounting for dilution from stock-based compensation and equity raises.
Why does the CMBT price target account for dilution?
CMB.TECH NV is projected to grow diluted share count from 290M to 290M by 2030 (a 0% increase) through stock-based compensation and capital raises. Ignoring this would inflate the price target by approximately 0%.
What is the analyst consensus on CMBT stock?
3 analysts cover CMBT with an average 12-month price target of $—. The 2030 projection extends this framework with longer-horizon assumptions including dilution and time value of money.