Equity Brief · Industrials2026-09-01
SNO.RO·Industrials

Santierul Naval Orsova

I · AI Analysis

The brief

Santierul Naval Orsova builds river vessels including chemical tankers, container ships, barges, and ferries, primarily for European inland waterways [Company Overview]. The company also rents ships and provides ship repair services [Company Overview].

Santierul Naval Orsova is a Romanian shipyard founded in 1890 that builds river ships, barges, and tankers, and also repairs vessels [Company Overview]. The company recently reported a net profit and its shares have tripled in value over the past year [Ziarul Financiar]. However, trailing net income of RON 12.8M significantly exceeds operating income of RON 8.3M, meaning RON 4.5M came from non-operating sources rather than shipbuilding operations [Yahoo Finance].

Strong balance sheet and cash generation, but profitability is inflated by one-time non-operating gains.

The brief AI analysisConfidence 6/10

Sentinellis health

Financially healthy

9.5/10

7.5+ strong · 4.5–7.5 moderate · under 4.5 weak

Profitability

14% of score10.0/10
Net margin+12.1%Gross margin+69.5%

Returns on capital

14% of score10.0/10
ROIC+13.2%Return on equity+16.8%

Growth & momentum

19% of score10.0/10
Revenue growth+10.8%Operating margin trend+21.5pp YoY

Balance sheet

29% of score10.0/10
Current ratio3.5xNet debt / EBITDA-1.3xInterest coverage53.1xDebt / equity0.03

Cash generation

14% of score6.7/10
Free cash flowRON 10.7MCash vs reported profitRON 14.1M vs RON 15.2M· need OCF > net income

Value creation

10% of score10.0/10
ROIC vs cost of capital+5.8pp

Sentinellis calculation from the published statements — not a score reported by any data source. Each category is scored on the checks that had data; missing inputs are excluded rather than counted as failures.

Market capitalisation

RON 290.1M

Revenue (TTM)

RON 125.9M

II · Recent news

What moved

1 stories · ranked by relevance

  • company2026-08-14

    Şantierul Naval Orşova, companie care a triplat banii investitorilor în ultimul an, anunţă un profit net - Ziarul Financiar

    Ziarul Financiar

Premium · Free with any account

RON 4.5M of trailing net income came from non-operating sources rather than shipbuilding operations, meaning core profitability is lower than headline earnings suggest [Yahoo Finance]

1 of 5 risks in this report

Risks

5

Opportunities

4

Red flags

1

9 more findings in the full report — free with any account.

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Produced 01 Sept 2026, 09:00 UTC

Figures come from company filings and market data. The Sentinellis health score and the wording attached to it are our interpretation of those figures, not numbers the company reported.

Not investment advice and not a recommendation to buy or sell. Sentinellis holds no positions in the companies it covers, takes no payment from issuers, and has no broker referral arrangements.

How every figure and score is calculated