Overview
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- TickerSFL on NYSE1
- IndustryDeep Sea Foreign Transportation of Freight1
- HeadquartersHamilton1
- Websitewww.sflcorp.com
- Business address14 Par-La-Ville Road, Hamilton, Hm 08, D0 00000-00006
- Filer categoryLarge accelerated filer6
- Legal formExempted Companies Limited by Shares3
- LEI549300RLYYPSB0C7RH773
- StatusActive3
- LEI statusIssued and current3
- Registered addressPar-La-Ville Place, HM 08 Hamilton, Bermuda3
- Registered withRegistrar of Companies (Ministry of Economic Development), 342963
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We are SFL Corporation Ltd., a company incorporated under the laws of Bermuda on October 10, 2003, as a Bermuda exempted company under the Bermuda Companies Law of 1981 (Company No. EC-34296). We are engaged primarily in the ownership and operation of vessels and offshore related assets, and we are also involved in the charter, purchase and sale of assets. Our registered and principal executive offices are located at Par-la-Ville Place, 14 Par-la-Ville Road, Hamilton, HM 08, Bermuda, and our telephone number is (441) 295-9500. Our website is www.sflcorp.com. The SEC maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC. The address of the SEC’s internet site is www.sec.gov. None of the information contained on these websites is incorporated into or forms a part of this annual repor…7 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs100¢$731.2M
- Income tax0¢$1.9M
Out of $733.0M in revenue.5 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Dividends paid47¢$125.1M
- Share buybacks4¢$10.0M
- Kept or used elsewhere49¢$132.0M
Out of $267.1M of cash from operations.5
Financial statements
No quarterly figures reported.
Every line of the income statement as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Time charter revenues | $602.2M | $619.4M | $544.4M |
| Voyage charter and pool revenues | $14.8M | $18.9M | $33.6M |
| Drilling contract revenues | $96.3M | $236.7M | $146.9M |
| Interest income sales-type and leaseback assets | $951.0K | $2.4M | $6.2M |
| Profit sharing revenues | $5.6M | $16.7M | $13.2M |
| Other operating income | $13.3M | $10.3M | $8.0M |
| Total operating revenues | $733.0M | $904.4M | $752.3M |
| (Loss)/Gain on sale of assets and settlement of charters, net | -$7.2M | $5.4M | $18.7M |
| Vessel and rig operating expenses | $301.8M | $343.3M | $293.8M |
| Depreciation | $235.0M | $239.2M | $214.1M |
| Vessel impairment charge | $34.1M | $0 | $7.4M |
| Administrative expenses | $18.3M | $20.6M | $15.6M |
| Total operating expenses | $589.2M | $603.1M | $530.8M |
| Net operating income | $136.7M | $306.7M | $240.2M |
| Interest income long-term loans to associated companies | $4.6M | $4.6M | $4.6M |
| Interest income other | $10.2M | $9.2M | $9.1M |
| Interest expense | -$180.5M | -$183.0M | -$167.0M |
| Loss on investments in debt and equity securities | -$39.0K | -$854.0K | -$1.9M |
| Other financial items, net | $2.2M | $1.8M | -$486.0K |
| Equity in earnings of associated companies | $2.4M | $2.8M | $2.8M |
| (Loss)/Income before taxes | -$24.5M | $141.3M | $87.3M |
| Tax expense | -$1.9M | -$10.6M | -$3.3M |
| Net (loss)/income | -$26.4M | $130.7M | $83.9M |
| Basic (loss)/earnings per share (in dollars per share) | -$0.20 | $1.01 | $0.67 |
| Weighted average number of shares outstanding, basic (in shares) | 133.1M shares | 129.4M shares | 126.2M shares |
| Diluted (loss)/earnings per share (in dollars per share) | -$0.20 | $1.01 | $0.66 |
| Weighted average number of shares outstanding, diluted (in shares) | 133.1M shares | 130.0M shares | 126.6M shares |
| Cash dividend per share declared and paid (in dollars per share) | $0.94 | $1.07 | $0.97 |
No quarter-by-quarter statement was filed.
No quarterly figures reported.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2018-04-30 |
|---|---|---|---|---|
| Cash and cash equivalents | $150.8M | $134.6M | $165.5M | |
| Investment in debt and equity securities | $4.1M | $3.7M | ||
| Trade accounts receivable | $11.6M | $36.8M | ||
| Inventories | $13.8M | $17.4M | ||
| Prepaid expenses and accrued income | $18.7M | $17.1M | ||
| Investment in sales-type leases, current portion | $0 | $35.1M | ||
| Financial instruments at fair value, current portion | $0 | $121.0K | ||
| Total current assets | $259.2M | $316.0M | ||
| Vessels, rigs and equipment, net | $3.1B | $3.6B | ||
| Capital improvements in progress and newbuildings | $181.1M | $162.3M | ||
| Investment in associated companies | $15.8M | $16.4M | ||
| Loans and long-term receivables from related parties including associates | $45.0M | $45.0M | ||
| Financial instruments at fair value, long-term portion | $14.1M | $15.5M | ||
| Other long-term assets | $294.0K | $294.0K | ||
| Total assets | $3.6B | $4.1B | ||
| Short-term debt and current portion of long-term debt | $605.9M | $689.0M | ||
| Trade accounts payable | $7.3M | $34.3M | ||
| Accrued expenses | $51.9M | $51.4M | ||
| Financial instruments at fair value, current portion | $0 | $14.9M | ||
| Total current liabilities | $710.3M | $827.9M | ||
| Long-term debt | $2.0B | $2.2B | ||
| Financial instruments at fair value, long-term portion | $6.1M | $103.0K | ||
| Other long-term liabilities | $277.0K | $970.0K | ||
| Total liabilities | $2.7B | $3.0B | ||
| Share capital | $1.5M | $1.5M | ||
| Additional paid-in capital | $718.0M | $716.2M | ||
| Treasury stock | -$20.2M | -$10.2M | ||
| Contributed surplus | $292.6M | $417.7M | ||
| Accumulated other comprehensive income | -$4.5M | $3.2M | $4.5M | |
| Retained earnings | -$26.4M | $0 | ||
| Total stockholders' equity | $960.9M | $1.1B | $1.0B | |
| Total liabilities and stockholders' equity | $3.6B | $4.1B | ||
| Share capital, par value (in dollars per share) | $0.01 | $0.01 | $0.01 | |
| Share capital, authorized (in shares) | 300.0M shares | 300.0M shares | ||
| Share capital, shares issued (in shares) | 146.9M shares | 146.8M shares | ||
| Share capital, shares outstanding (in shares) | 144.6M shares | 145.7M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2018-04-30 |
|---|---|---|---|---|
| Cash and cash equivalents | $150.8M | $134.6M | $165.5M | |
| Investment in debt and equity securities | $4.1M | $3.7M | ||
| Trade accounts receivable | $11.6M | $36.8M | ||
| Inventories | $13.8M | $17.4M | ||
| Prepaid expenses and accrued income | $18.7M | $17.1M | ||
| Investment in sales-type leases, current portion | $0 | $35.1M | ||
| Financial instruments at fair value, current portion | $0 | $121.0K | ||
| Total current assets | $259.2M | $316.0M | ||
| Vessels, rigs and equipment, net | $3.1B | $3.6B | ||
| Capital improvements in progress and newbuildings | $181.1M | $162.3M | ||
| Investment in associated companies | $15.8M | $16.4M | ||
| Loans and long-term receivables from related parties including associates | $45.0M | $45.0M | ||
| Financial instruments at fair value, long-term portion | $14.1M | $15.5M | ||
| Other long-term assets | $294.0K | $294.0K | ||
| Total assets | $3.6B | $4.1B | ||
| Short-term debt and current portion of long-term debt | $605.9M | $689.0M | ||
| Trade accounts payable | $7.3M | $34.3M | ||
| Accrued expenses | $51.9M | $51.4M | ||
| Financial instruments at fair value, current portion | $0 | $14.9M | ||
| Total current liabilities | $710.3M | $827.9M | ||
| Long-term debt | $2.0B | $2.2B | ||
| Financial instruments at fair value, long-term portion | $6.1M | $103.0K | ||
| Other long-term liabilities | $277.0K | $970.0K | ||
| Total liabilities | $2.7B | $3.0B | ||
| Share capital | $1.5M | $1.5M | ||
| Additional paid-in capital | $718.0M | $716.2M | ||
| Treasury stock | -$20.2M | -$10.2M | ||
| Contributed surplus | $292.6M | $417.7M | ||
| Accumulated other comprehensive income | -$4.5M | $3.2M | $4.5M | |
| Retained earnings | -$26.4M | $0 | ||
| Total stockholders' equity | $960.9M | $1.1B | $1.0B | |
| Total liabilities and stockholders' equity | $3.6B | $4.1B | ||
| Share capital, par value (in dollars per share) | $0.01 | $0.01 | $0.01 | |
| Share capital, authorized (in shares) | 300.0M shares | 300.0M shares | ||
| Share capital, shares issued (in shares) | 146.9M shares | 146.8M shares | ||
| Share capital, shares outstanding (in shares) | 144.6M shares | 145.7M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net (loss)/income | -$26.4M | $130.7M | $83.9M |
| Depreciation | $235.0M | $239.2M | $214.1M |
| Amortization of deferred charges | $8.1M | $7.6M | $7.7M |
| Amortization of deferred charter revenue | $363.0K | -$1.1M | -$1.4M |
| Vessel impairment charge | $34.1M | $0 | $7.4M |
| Adjustment of derivatives to fair value recognized in net income | $4.6M | $4.7M | $8.4M |
| Capitalized lease debt financing interest | $8.1M | $6.7M | $2.9M |
| Equity in earnings of associated companies | -$2.4M | -$2.8M | -$2.8M |
| Gain on sale of assets, net | -$15.8M | -$5.4M | -$18.7M |
| Repayments from investment in sales-type leases and leaseback assets | $4.0M | $8.6M | $13.9M |
| Loss on repurchase of bonds | $144.0K | $1.3M | $540.0K |
| Other, net | $4.2M | -$7.3M | $1.0M |
| Trade accounts receivable | $25.3M | $4.3M | -$20.9M |
| Due to/ from related parties | -$1.7M | -$3.2M | $1.8M |
| Other current assets | $7.4M | -$31.2M | -$3.1M |
| Inventories | $3.6M | -$5.7M | $4.7M |
| Prepaid expenses and accrued income | -$5.0M | -$2.0M | $638.0K |
| Trade accounts payable | -$27.0M | $4.0M | $22.4M |
| Accrued expenses and other current liabilities | $10.4M | $21.2M | $20.7M |
| Net cash provided by operating activities | $267.1M | $369.9M | $343.1M |
| Purchase of vessels, capital improvements and other additions | -$70.5M | -$644.9M | -$264.4M |
| Proceeds from sale of assets | $258.6M | $22.7M | $156.2M |
| Net amounts received from associated companies | $0 | $2.8M | $2.9M |
| Collateral deposits received on swap agreements | $0 | $2.1M | $1.7M |
| Other investments and long-term assets, net | $0 | -$300.0K | -$275.0K |
| Net cash provided by/(used in) investing activities | $188.1M | -$617.5M | -$103.9M |
| Repayments of lease obligation liability | $0 | -$419.3M | -$53.7M |
| Proceeds from issuance of short-term and long-term debt | $244.0M | $1.4B | $944.6M |
| Repayments of short-term and long-term debt | -$527.3M | -$556.7M | -$781.1M |
| Repurchase of bonds | -$11.1M | -$133.1M | -$205.8M |
| Debt fees paid | -$3.2M | -$13.7M | -$12.4M |
| Principal settlements of cross currency swaps, net | -$6.3M | -$16.5M | -$20.4M |
| Cash received/(paid) for shares issued or repurchased | -$10.0M | -$10.2M | |
| Cash received/(paid) for shares issued or repurchased | $96.2M | ||
| Cash dividends paid | -$125.1M | -$138.5M | -$123.0M |
| Net cash provided by/(used in) financing activities | -$439.0M | $216.7M | -$262.1M |
| Net change in cash and cash equivalents | $16.3M | -$30.9M | -$22.9M |
| Interest paid on debt, swaps and leases, net of capitalized interest | $161.7M | $161.2M | $148.5M |
| Taxes paid | $2.8M | $8.3M | $2.0M |
No quarter-by-quarter statement was filed.
Leadership
Who has led SFL Corporation Ltd., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
- Chief executive officerOle B. Hjertaker Jul 2009 to now14
- Chief financial officerAksel Olesen Mar 18, 2026 to now15
Board members and other officers (7)
- Board memberOle B. Hjertaker Mar 18, 2026 to now16
- Board memberJan Erik Klepsland Mar 19, 2026 to now17
- Board memberKornelis Jan Willem Cordia Mar 20, 2026 to now18
- Board memberGeorge William Homan-Russell Mar 31, 2026 to now19
- Board memberKathrine Astrup Fredriksen Apr 16, 2026 to now20
- Board memberGary Vogel Apr 24, 2026 to now21
- Board memberJames O'Shaughnessy Sep 14, 2026 to now22
Former names
- Ship Finance International LTDMay 21, 2004 to Aug 20, 20196
Timeline
Filings
125 filings to the SEC since October 2021: 5 annual reports, 8 insider forms, 6 large holders, 106 other. The latest 20:
- Oct 13, 20266-K EDGAR
- Oct 7, 20266-K EDGAR
- Oct 5, 20266-K EDGAR
- Sep 14, 20263 EDGAR
- Sep 11, 20266-K EDGAR
- Aug 26, 20266-K EDGAR
- Aug 26, 20266-K EDGAR
- May 13, 20266-K EDGAR
- May 12, 20266-K EDGAR
- May 12, 20266-K EDGAR
- Apr 30, 20266-K EDGAR
- Apr 24, 20263 EDGAR
- Apr 16, 20263 EDGAR
- Apr 8, 20266-K EDGAR
- Mar 31, 20263 EDGAR
- Mar 27, 20266-K EDGAR
- Mar 20, 20263 EDGAR
- Mar 19, 20263 EDGAR
- Mar 18, 20263 EDGAR
- Mar 18, 20263 EDGAR
The 125 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- DIMENSIONAL FUND ADVISORS LPSCHEDULE 13G/A, 2 filings Feb 9, 2024 to Jul 15, 202523
- BlackRockSCHEDULE 13G, 1 filing Feb 4, 202524
- HEMEN HOLDING LTDSC 13D/A, 1 filing Jul 30, 202425
- DNB Bank ASASCHEDULE 13G, 2 filings Feb 11, 2022 to Jan 12, 202426
Members of Congress who traded it
1 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.
| Date | Member | Trade | Amount | Vs S&P since | Filing |
|---|---|---|---|---|---|
| Dec 31, 2025 | J. French HillRepublican, House | Sale | $15,001 - $50,000 | −47.8% | Report |
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
Links
- Websitewww.sflcorp.com1
- WikidataQ141592559
- SEC EDGARCIK 1289877
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1WikidataSFL Corporation Ltd. on Wikidata
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- 4Company websiteSFL Corporation Ltd. logo
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- 14Wikidata and SEC EDGAROle B. Hjertaker, Chief executive officer
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- 16SEC EDGAROle B. Hjertaker, Board member
- 17SEC EDGARJan Erik Klepsland, Board member
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- 19
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- 21SEC EDGARGary Vogel, Board member
- 22SEC EDGARJames O'Shaughnessy, Board member
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