Schoeller-Bleckmann
SBO.VI Small CapEnergy · Oil & Gas Equipment & Services
Updated: May 20, 2026, 22:09 UTC
Key Metrics
Valuation Analysis
About the Company
SBO AG manufactures and sells steel products worldwide. The company operates in two segments, Precision Technology and Energy Equipment. It offers high-strength non-magnetic steels and precision components; advanced additive manufacturing; service and repair; energy equipment, such as high-performance drilling motors; rotary steerable tools; circulation tools; and well-completion solutions. SBO AG was formerly known as Schoeller-Bleckmann Oilfield Equipment Aktiengesellschaft and changed its name to SBO AG in July 2025. The company was founded in 1862 and is headquartered in Ternitz, Austria.
Schoeller-Bleckmann Stock at a Glance
Schoeller-Bleckmann (SBO.VI) is currently trading at €34.50 with a market capitalization of $543.7M. The trailing P/E ratio stands at 23x, with a forward P/E of 10.74x. The 52-week range spans from €25.70 to €37.95; the current price is 9.1% below the yearly high. Year-over-year revenue growth stands at -28.0%. The net profit margin stands at 5.18%.
💰 Dividend
Schoeller-Bleckmann pays an annual dividend of €0.75 per share, representing a yield of 2.17%. The payout ratio stands at 116.67%. The elevated payout ratio reflects a mature dividend policy.
📊 Analyst Rating
5 analysts rate Schoeller-Bleckmann (SBO.VI) on consensus: Hold. The average price target is €36.90, implying +6.96% from the current price. Analyst price targets range from €32.00 to €41.70.
Investment Thesis: Strengths & Weaknesses
- Solid dividend yield of 2.17%
- Positive free cash flow
- –Revenue shrinking (-28% YoY)
Technical Snapshot
Price shows short-term weakness (below 50d MA) but is still in a longer-term uptrend (above 200d MA).
Risk Profile
The data points to relatively defensive market behavior.
Trading Data
💵 Dividend Info
Related Stocks in the Same Sector
Schoeller-Bleckmann (SBO.VI) 2026: 34,15 EUR Austrian Oilfield-Equipment Precision-Technology Specialist with Non-Magnetic-Drill-Steel Market Leadership and 2,2 Percent Dividend Yield
The Real Story
SBO AG (Vienna: SBO) is a Ternitz, Austria-headquartered manufacturer of high-precision steel-products serving oilfield-equipment-and-services industry. Two segments: Precision Technology (non-magnetic drill-steel components for directional-drilling, MWD/LWD measurement tools) holding approximately 75 percent global-market-share in non-magnetic-drill-steel, and Energy Equipment (high-pressure-and-extreme-environment specialty components).
Customer base includes Schlumberger (SLB), Halliburton, Baker Hughes, NOV plus directional-drilling-service-companies. Cycle-correlated to global-rig-count and oilfield-capex.
What Smart Money Thinks
SBO has Austrian institutional base. Berndorf AG (Austrian industrial-holding family-controlled) holds approximately 32 percent — strategic anchor. Allianz at approximately 4,2 percent, BlackRock at approximately 3,8 percent. Short-interest sits at approximately 3 percent of float as of May 2026.
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📈 The 3 Real Bull Points
SBO holds approximately 75 percent global-market-share in non-magnetic-drill-steel for directional-drilling and MWD/LWD tools. Structural moat from specialized-metallurgy and decades of customer-qualification.
Even as global-rig-count fluctuates, directional-drilling-and-complex-well intensity continues to grow approximately 5-8 percent annually supporting SBO's specialty-component demand.
Berndorf AG strategic-anchor provides long-duration capital-allocation discipline through commodity-price-cycle volatility.
📉 The 3 Real Bear Points
SBO oilfield-equipment-revenue is structurally cyclical with 20-30 percent revenue volatility through cycles. Cycle-trough could compress earnings.
Long-duration energy-transition compresses oil-and-gas-drilling demand. SBO must diversify into adjacent precision-engineering applications (aerospace, medical) to maintain growth.
Chinese low-cost competitors in standard precision-components segment compress non-core pricing-power. SBO's core non-magnetic-drill-steel moat remains intact but adjacent-product pricing pressured.
Valuation in Context
SBO at 34,15 EUR per share with approximately 15,8 million shares outstanding has a market capitalization of approximately 540 million EUR. EV approximately 600 million EUR against trailing-twelve-month revenue approximately 380 million EUR.
Forward-P/E 10,6x reflects cyclical-trough valuation. Re-rating on cycle-recovery to 13-16x supports 42-52 EUR price range — 23-52 percent upside. Bear-case 22-26 EUR. Bull-case 60-75 EUR. 2,2 percent dividend.
🗓️ Next 3 Catalyst Dates
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2026 Q3:
H1 2026 earnings. Watch-items: global rig-count, customer-capex-trends, dividend coverage.
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2027 Q1:
Fiscal-2026 full-year results plus fiscal-2027 guidance.
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2027 H2:
Continued oilfield-capex-cycle progression.
💬 Daniel's Take
Schoeller-Bleckmann is a quality-cyclical Austrian oilfield-equipment precision-technology specialist with 75 percent non-magnetic drill-steel market share moat, Berndorf strategic anchor, and forward-P/E 10,6x cyclical-trough valuation. Position-sizing: 0,5–1,2 percent in quality-cyclical sleeve.
Sources (3)
Disclaimer: This article is not investment advice. Investing in stocks carries risks, including total loss.
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