Schoeller-Bleckmann
SBO.VI Small CapEnergy · Oil & Gas Equipment & Services
Updated: Jul 5, 2026, 22:19 UTC
Price Chart
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 €29.55 with a market capitalization of $465.7M. The trailing P/E ratio stands at 44.1x, with a forward P/E of 9.17x. The 52-week range spans from €25.70 to €37.95; the current price is 22.1% below the yearly high. Year-over-year revenue growth stands at -23.7%. The net profit margin stands at 2.49%.
💰 Dividend
Schoeller-Bleckmann pays an annual dividend of €0.75 per share, representing a yield of 2.54%. The payout ratio stands at 261.19%. The elevated payout ratio reflects a mature dividend policy.
📊 Analyst Rating
5 analysts rate Schoeller-Bleckmann (SBO.VI) on consensus: None. The average price target is €36.90, implying +24.87% from the current price. Analyst price targets range from €29.00 to €41.70.
Schoeller-Bleckmann: The Investment Case in Detail
Schoeller-Bleckmann (SBO.VI) operates in the Energy — specifically Oil & Gas Equipment & Services — and is headquartered in Austria. Below is a structured read of the investment case built directly from the latest fundamentals, valuation multiples, analyst positioning and smart-money flows. Each section translates raw numbers into the investment logic they imply, so you can decide whether the risk/reward fits your portfolio.
The Bear Case
Revenue is contracting at -23.7% year-over-year — until that trend reverses, valuation is exposed to further downgrades. With a net margin of just 2.49%, the business has little room to absorb cost shocks or pricing pressure — a single bad quarter can swing the company to a loss. Our valuation screen flags the stock as overvalued — current multiples imply the business needs to deliver well above its recent trajectory to justify the price.
Valuation in Context
With a PEG ratio of 0.73, the price-to-earnings multiple is actually below the company's growth rate — classic value-meets-growth territory that Peter Lynch would have called a 'GARP' opportunity.
What to Watch Next
- The forward P/E of 9.17x is meaningfully below the trailing 44.1x — analysts expect earnings to step up; the next earnings release is the test.
- The analyst consensus price target implies 24.87% upside — if the next two quarters confirm the underlying thesis, target hikes typically follow.
Investment Thesis: Strengths & Weaknesses
- Solid dividend yield of 2.54%
- Positive free cash flow
- –Revenue shrinking (-23.7% YoY)
- –Low profitability (2.49% margin)
- –Currently flagged as overvalued
Technical Snapshot
The price is in a transition zone relative to the moving averages — no clear signal.
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.
Explore the BMI Smart-Money Tracker →
📈 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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