Subsea 7 S.A.

Subsea 7 S.A.

310.40
NOK
-7.60
(-2.39%)
20.16EPS
16.50P/E
100.10BMarket Cap
Nov 19Next Earn
Subsea 7 S.A.
OSL:SUBC
(Euronext Oslo)

Recent

price

310.40

P/E

ratio

16.50

div

yld

2.07%

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
USD
12.91
- -
18.79
18.91
20.77
14.61
10.95
12.23
12.52
11.99
11.65
16.84
17.59
20.04
22.93
23.96
25.4
Revenue per Share
1.45
- -
2.49
1.05
-1.02
-0.05
1.34
1.4
0.56
-0.27
-3.67
0.11
0.2
0.05
0.68
1.39
2.07
Basic EPS, GAAP
-1.97
- -
-0.59
0.72
1.76
1.24
2.28
0.17
0.55
0.32
0.89
0.4
0.87
0.26
1.95
4.02
5.57
Free Cash Flow per Basic Share
0.23
- -
0.63
0.6
0.59
- -
- -
0.59
0.63
0.18
- -
0.24
0.11
0.38
0.55
1.27
0.65
Dividend per Share
- -
- -
19.02
19.53
17.12
16.51
17.14
18.05
17.81
17.83
14.2
14.16
14.2
14.39
14.38
14.88
14.66
Book Value per Share
- -
- -
11.18
11.75
13
14.1
15.1
15.65
15.36
15.33
13.76
13.37
13.44
13.55
13.46
13.97
13.72
Tangible Book Value per Share
184
324
334
333
331
326
326
326
325
305
298
298
292
298
298
296
296
Basic Weighted Avg Shares
2,369
- -
6,274
6,297
6,870
4,758
3,567
3,986
4,074
3,657
3,466
5,010
5,136
5,974
6,837
7,086
7,518
Sales/Revenue/Turnover
15.25
- -
11.1
7
12.52
13.55
16.94
15.57
4.98
2.13
-11.83
1.28
2.89
1.62
5.96
10.37
13.31
Operating Margin (%)
118
- -
328
367
404
394
362
415
420
475
432
444
468
538
623
679
672
Depreciation Expense
265
- -
830
350
-338
-17
436
455
183
-84
-1,093
32
57
15
201
411
613
Net Income, GAAP
32.77
- -
20.73
31.86
- -
120.01
27.47
18.02
23.95
- -
- -
63.85
73.29
87.5
41.17
35
31.06
Effective Tax Rate (%)
11.2
- -
13.24
5.55
-4.92
-0.36
12.22
11.41
4.48
-2.29
-31.53
0.63
1.11
0.26
2.95
5.81
8.15
Profit Margin (%)
213
- -
745
108
-41
252
503
872
696
344
284
457
537
249
40
302
134
Working Capital
435
- -
1,048
641
576
524
- -
258
234
460
353
503
463
1,012
815
587
528
LT Debt
- -
- -
6,333
6,571
5,562
5,346
5,537
5,941
5,722
5,363
4,255
4,488
4,451
4,357
4,295
4,445
4,379
Total Equity
- -
- -
- -
4.9
- -
-0.47
6.21
7.61
2.43
- -
- -
0.52
0.76
0.24
4.56
8.95
13.12
Return on Invested Capital (%)
- -
- -
- -
5.25
- -
0.02
7.75
7.75
3.46
- -
- -
0.7
1.65
0.55
4.39
8.62
12.92
Return on Capital (%)
- -
- -
- -
5.44
-5.57
-0.31
7.96
7.93
3.15
-1.52
-22.87
0.76
1.38
0.36
4.7
9.5
14.45
Return on Common Equity (%)

Capital Structure

USD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
346
342
328
LT Borrowings
402
347
311
LT Finance Leases
185
187
216
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
296
296
296
Market Capitalization
5,995
9,196
10,120

Working Capital

USD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
3,121
3,466
3,277
Cash, Cash Equivalents & STI
970
1,074
1,046
Accounts Receivable, Net
658
1,147
1,012
Inventories
52
55
69
Total Current Liabilities
2,818
3,139
3,143
Payables & Accruals
- -
- -
- -
ST Debt
346
342
328
Deferred Revenue
- -
- -
- -

Growth Rates

USD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-1.52%
0.92%
3.49%
Free Cash Flow
108.06%
148.21%
104.17%
Net Income, GAAP
-44.32%
243.14%
104.27%
Sales/Revenue/Turnover
5.49%
16.29%
3.65%
Total Cash Common Dividend
- -
- -
130.94%

Quarterly Revenue

USD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,395
1,739
1,834
1,869
6,837
2025
1,529
1,756
1,840
1,962
7,086
2026
1,789
1,927
- -
- -
- -

Quarterly Earnings Per Share

USD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.09
0.2
0.31
0.07
0.68
2025
0.06
0.45
0.38
0.49
1.39
2026
0.34
0.86
- -
- -
- -

Quarterly Dividends Per Share

USD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
0.27
0.55
2025
- -
- -
- -
0.65
1.27
2026
- -
- -
- -
- -
- -
Business
Subsea 7 S.A. (SUBC.OL) provides subsea engineering, construction and services to the offshore energy industry worldwide. The company delivers full lifecycle solutions including project management, design, engineering, procurement, fabrication, survey, installation and commissioning of subsea production facilities, tie-backs to platforms or shore; remotely operated vehicles and tooling for exploration, production and life-of-field support; procurement and installation of offshore wind turbine foundations and inner-array cables, heavy lifting and transportation for renewables; inspection, repair, maintenance and remote intervention for subsea infrastructure; engineering and advisory services for oil and gas, renewables and utilities; carbon capture, utilization and storage services; lower carbon oil and gas projects encompassing subsea, conventional, life-of-field and electrification; and emerging energies such as offshore wind and hydrogen. Subsea 7 S.A. operates a modern fleet of over 30 vessels, 165 remotely operated vehicles and fabrication facilities including pipeline spoolbases across more than 30 countries, with key regions spanning the Gulf of Mexico, North Sea, Asia Pacific, Africa, Middle East and South America; the company employs approximately 15,000 people and is registered in Luxembourg with operational headquarters in London. Founded in 1993, Subsea 7 S.A. maintains a backlog exceeding $14 billion as of Q3 2025 and focuses on energy transition through lower-carbon initiatives and renewables growth. In July 2025, Subsea 7 S.A. signed a binding merger agreement with Saipem S.p.A. to form Saipem7, a combined entity with €21 billion in revenue, over €2 billion EBITDA and €43 billion backlog, anticipating €300 million in annual synergies from the third year post-completion expected in H2 2026; the deal structures as Saipem absorbing Subsea 7 with 50-50 shareholder ownership, Subsea 7 shareholders receiving 6.688 Saipem shares per Subsea 7 share plus a €450 million extraordinary dividend prior to closing, and Saipem7 listing on Milan and Oslo exchanges. Recent activities include a December 2025 decommissioning contract offshore UK for pipeline flushing, diver support and seabed clearance; Q3 2025 results showing adjusted EBITDA of $407 million at 22% margin and raised full-year guidance; and ongoing projects with Equinor on Visund, Bay du Nord and Sakarya phases.

Company News

  • Subsea 7 (OTCMKTS:SUBCY) Shares Gap Up – Still a Buy?

  • Subsea7 Expands Sakarya Phase 3 Scope With Latest TP-OTC Contract

  • Is Subsea 7 (SUBCY) Stock Undervalued Right Now?

  • Subsea 7 (OTCMKTS:SUBCY) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

  • Subsea7 Secures New LLOG Contract Award in the Gulf of America

  • Should Value Investors Buy Subsea 7 (SUBCY) Stock?

  • Subsea 7 S.A. (SUBCY) Q2 2026 Earnings Call Transcript

  • Saipem, Subsea 7 deal may lead to price hikes, EU antitrust regulators warn

  • Turkey's competition authority approves Saipem's merger with Subsea7

  • Saipem, Subsea 7 deal faces EU antitrust investigation, sources say

  • Australia orders in-depth review of Exxon-opposed Subsea7-Saipem merger

  • Saipem and Subsea7 Progress Merger Amid Saudi Asset Sale

  • Brazil antitrust agency approves Subsea7-Saipem merger without restrictions

  • Subsea 7 S.A. second quarter 2026 earnings call notification

  • Subsea7 Secures String Music Development Contract in the U.S. Gulf

  • Subsea 7 awarded contract offshore US

  • Subsea 7 awarded contract offshore Norway

  • Subsea 7 S.A. announces changes to Board composition

  • Subsea 7 S.A. 2026 AGM

  • Subsea7 awarded contract offshore Angola