Tearsheet

CBL International (BANL)

Market Price (10/31/2025): $0.49 | Market Cap: $-
Sector: Energy | Industry: Oil & Gas Storage & Transportation

CBL International (BANL)

Market Price (10/31/2025): $0.49
Market Cap: $-
Sector: Energy
Industry: Oil & Gas Storage & Transportation

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

Weak multi-year price returns
2Y Excs Rtn is -112%

Penny stock
Mkt Price is 0.5

0	Weak multi-year price returns 2Y Excs Rtn is -112%
1	Penny stock Mkt Price is 0.5

Market Valuation & Key Metrics

Valuation
Key Metrics

	10/31/25	2024	2023	2022
Share Price CYE	$0.49
Market Cap CYE ($ Bil)	0.0	-	-	-
Total Debt ($ Bil)	0.0	0.0	0.0	0.0
Total Cash ($ Bil)	0.0	0.1	0.0	0.0
Enterprise Value ($ Bil)	0.0
Valuation Ratios
P/S TTM	0.0	0.0	0.0	0.0
P/EBIT TTM	0.0	0.0	0.0	0.0
P/E TTM	0.0	0.0	0.0	0.0
Sector Ratios
P/S TTM (Sector)	3.0	3.0	2.8	2.7
P/EBIT TTM (Sector)	6.8	6.8	7.0	6.2
P/E TTM (Sector)	11.8	11.5	10.1	9.3

	10/31/25	2024	2023
Share Price CYE	$0.49
Market Cap CYE ($ Bil)	0.0	-	-
Total Debt ($ Bil)	0.0	0.0	0.0
Total Cash ($ Bil)	0.0	0.1	0.0
Enterprise Value ($ Bil)	0.0
Valuation Ratios
P/S TTM	0.0	0.0	0.0
P/EBIT TTM	0.0	0.0	0.0
P/E TTM	0.0	0.0	0.0
Sector Ratios
P/S TTM (Sector)	3.0	3.0	2.8
P/EBIT TTM (Sector)	6.8	6.8	7.0
P/E TTM (Sector)	11.8	11.5	10.1

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BANL Stock

Return (1M):

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Factor Drivers of Stock Movement

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Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
BANL Return	-	-	-	-	-31%	-51%	-64%
Peers Return	-30%	3%	-2%	19%	-18%	9%	-25%
S&P 500 Return	16%	27%	-19%	24%	23%	16%	110%
Monthly Win Rates [3]
BANL Win Rate	-	-	-	33%	17%	33%
Peers Win Rate	22%	35%	27%	40%	25%	48%
S&P 500 Win Rate	58%	75%	42%	67%	75%	67%
Max Drawdowns [4]
BANL Max Drawdown	-	-	-	-	-59%	-47%
Peers Max Drawdown	-37%	-8%	-21%	-18%	-32%	-14%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: FRO, BANL, TMDE, TOPS, ENB.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/30/2025 (YTD)

How Low Can It Go

BANL has limited trading history. Below is the Energy sector ETF (XLE) in its place.

Unique Key	Event	XLE	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-26.9%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	36.7%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	116 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-60.6%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	153.8%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	660 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-31.8%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	46.6%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	1201 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-57.8%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	137.1%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	1858 days	1480 days

Compare to

In The Past

SPDR Select Sector Fund's stock fell -26.9% during the 2022 Inflation Shock from a high on 6/8/2022. A -26.9% loss requires a 36.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About CBL International (BANL)

Business Description

We are an established marine fuel logistics company providing a one-stop solution for vessel refueling, which is referred to as bunkering facilitator in the bunkering industry, in the Asia Pacific. We purchase and arrange our suppliers to actually deliver marine fuel to our customers, some of which we provide certain credit term of payment while we also receive payment credit from our suppliers. We rely on the permits and licenses of our suppliers for the actual delivery of marine fuel at each port. Since the establishment of our Group in 2015, container liner operators have been identified as our target customers. Container liner operators provide liner services which operate on a schedule with a fixed port rotation and fixed frequency, which is similar to bus operation under which buses go on fixed routes and calling at fixed stops for passengers to board and alight. Knowing the nature of the business of our target customers, we continually look to broaden our operations by (a) expanding our servicing network to cover more ports; and (b) providing more value-added services to tailor for our customers’ growing demands with respect to vessel refueling. Our operations are based in Malaysia, Hong Kong and Singapore. We do not conclude and book any transactions in China. All of our transactions for vessel refueling services were concluded in Hong Kong, Malaysia and Singapore and our revenue were booked under our subsidiaries established in Hong Kong, Malaysia or Singapore. Although we deliver our services through our suppliers mainly in China and Hong Kong, nearly all our customers are international container liner operators from outside of China and Hong Kong. Of our five largest customers from whom we generated 92.9% and 83.6% respectively of our total revenue for FY2020 and FY2021, two customers are Taiwanese companies, two are Singaporean companies, and one is a German company; whilst for the six months ended June 30, 2022, the five largest customers who contributed 77% in aggregate of our total revenue consisted of two Taiwanese companies, two Singaporean companies and one Japanese company. We act as a bunkering facilitator and leverage on our close business relationships with parties amongst our supply network in the value chain to provide one-stop solution for vessel refueling. Our services mainly involve (i) making vessel refueling options available to our customers at various ports along their voyages in the Asia Pacific; (ii) arranging vessel refueling activities at competitive pricing (iii) coordinating vessel refueling to meet our customers’ schedule during their various port visits in the Asia Pacific; (iv) providing trade credit to our customers in relation to vessel refueling; (v) arranging local physical delivery of marine fuel to meet our customers’ schedule; (vi) handling unforeseeable circumstances faced by our customers and providing contingency solutions to our customers in a timely manner; (vii) fulfilling special requests from our customers in relation to vessel refueling; and (viii) handling disputes, mainly in relation to quality and quantity issues on marine fuel, if any. As of the date of this prospectus, as advised by our PRC counsel, Zhong Lun Law Firm, we and our subsidiaries (including our dormant PRC subsidiary, Majestic Energy, and all other non-PRC subsidiaries) (1) are not required to obtain permissions from any PRC authorities to operate or issue our securities to foreign investors, (2) are not subject to permission requirements from the CSRC, the Cyberspace Administration of China (“CAC”) or any other entity that is required to approve of our operations in China, and (3) have not received or were denied such permissions by any PRC authorities. However, if (1) we are required to but do not receive or maintain approvals from the PRC authorities, or (2) we inadvertently conclude that such approvals are not required, or (3) applicable laws, regulations, or interpretations change such that we are required to obtain approval in the future, we may be subject to investigations by competent regulators, fines or penalties, ordered to suspend our relevant operations and rectify any non-compliance, prohibited from engaging in relevant business or conducting any offering, and these risks could result in a material adverse change in our operations, significantly limit or completely hinder our ability to offer or continue to offer securities to investors, or cause such securities to significantly decline in value or become worthless. We have an estimated market share of approximately 4.9%, 11.7% and 36.4% respectively in terms of volume of fuel oil supplied to international container liner operators in the Asia Pacific, China and Hong Kong in 2021, and ranked second amongst bunkering facilitators in both China and Hong Kong. The Asia Pacific is one of the key regions of marine fuel consumption with a market share of approximately 46.8% of the global fuel consumption volume in 2021 driven by its significant share in the global trade and frequent business activities. By utilizing working capital resources available to us, we have been able to achieve continuous business growth since our inception in 2015. Despite the COVID-19 impact during 2020, we recorded an increase in revenue from approximately $234.3 million in FY2020 to approximately $326.5 million in FY2021, representing an increase of approximately 39.4%, which was primarily attributable to the increase in average market price per ton of marine fuel. Our sales volume decreased slightly by 5.6% from 655,660 metric tons in FY2020 to 618,695 metric tons in FY2021. For the six months ended June 30, 2022, our revenue increased by 47.9% from approximately $159.4 million for the six months ended June 30, 2021 to approximately $235.7 million. Our business is built on a customer-oriented culture and focuses on providing marine fuel according to the required international standards with competitive prices and timely delivery services at ports agreed between our customers and our Group. Over the years, with our experienced management team, we have established an extensive supply network to provide our customers with more options and flexibility in fulfilling their vessel refueling requirements. Our supply network, which focuses on expanding our localities of services, is currently covering 36 ports in the Asia Pacific, including but not limited to, three ports in South Korea, 20 ports in the PRC, one port in Taiwan, one port in Hong Kong, five ports in Malaysia, one port in Singapore, three ports in the Philippines, and two ports in Thailand. Going forward, we intend to allocate more resources to further expand our supply network, targeting at continual market share enhancement. For FY2020, FY2021 and the six months ended June 30, 2022, our customer mix in terms of number of customers and revenue concentration remained relatively stable. Most of our revenue is generated from international container liner operators whose vessels, by nature of their business, are sailing on regular routes and having stable and recurring demand for marine fuel in respect of quantity, quality and delivery timing. The vessels of international container liner operators may sail on regular routes, such as the Intra-Asia route, Euro-Asia route and Trans-Pacific route and we focus on providing vessel refueling services in the Asia Pacific. Our services covered the majority of the ports in the Asia Pacific along our customers’ sailing routes along the Intra-Asia route, Euro-Asia route and Trans-Pacific route. According to the F&S Report, among the top 10 international container liner operators (ranked by fleet capacity as in February 2022) which, in aggregate, accounted for approximately 85% of the global container fleet capacity, five of them are our customers during the two years ended December 31, 2021 and 2020 and the six months ended June 30, 2022. Our revenue generated from international container liner operators amounted to approximately US$223.2 million, US$297.2 million and US$200.9 million for FY2020 FY2021 and the six months ended June 30, 2022, respectively, representing approximately 95.3%, 91.0% and 85.2% of our total revenue in FY2020, FY2021 and the six months ended June 30, 2022, respectively. As a demand aggregator, we are able to benefit from the economies of scale based on our customers’ aggregated orders, which, in turn, allow us to negotiate bulk purchase with our suppliers at favorable terms instead of our customers transacting with a large number of suppliers on an individual transaction basis. We derive our revenue mainly from the supply of marine fuel to our customers. For FY2020, we handled 790 vessels refueling with approximately 655,660 metric tons of marine fuel supplied while for FY2021, we handled 811 vessels refueling with approximately 618,695 metric tons of marine fuel supplied. For the six months ended June 30, 2022, we handled 487 vessels refueling with approximately 293,583 metric tons of marine fuel supplied. We are registered with the Registrar of Companies in Cayman Islands under registration number CT-387046. Our principal executive offices are located at Suite 19-9-6, Level 9, UOA Centre, No. 19 Jalan Pinang, 50450 Kuala Lumpur, Malaysia. Our registered office in Cayman Islands is located at Conyers Trust Company (Cayman) Limited, Cricket Square, Hutchins Drive, PO Box 2681, Grand Cayman, KY1-1111, Cayman Islands. Our agent for service of process in the United States is Cogency Global Inc., located at 122 East 42nd Street, 18th Floor, New York, NY.

	Best Bets In Energy Sector
What You Pay
P/E	�	46.2	17.7	11.0	10.4	11.3	29.6	10.0	16.3	29.0	19.6
P/EBIT	�	37.9	10.0	8.1	8.8	8.5	16.3	7.6	10.9	15.2	8.8
What You Get
Rev Chg Q	�	8.8%	8.7%	9.7%	-24.0%	54.6%	26.6%	-11.2%	-5.8%	19.0%	-6.4%
Rev Chg LTM	�	10.7%	8.7%	8.8%	-22.0%	17.1%	15.3%	-5.4%	-0.7%	7.4%	19.5%
Rev Chg 3Y Avg	�	7.8%	9.0%	5.1%	37.6%	0.7%	8.3%	-5.1%	28.4%	1.8%	34.0%
FCF/Rev 3Y Avg	�	47.2%	46.6%	38.2%	33.0%	27.6%	25.0%	24.3%	23.1%	22.9%	22.8%

Trade Ideas

Select past ideas related to BANL. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
TDW_9302025_Dip_Buyer_FCFYield	09302025	TDW	Tidewater	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-7.4%	-7.4%	-11.3%
OKE_9302025_Dip_Buyer_ValueBuy	09302025	OKE	ONEOK	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-7.9%	-7.9%	-7.9%
LEU_8312025_Quality_Momentum_RoomToRun_10%	08312025	LEU	Centrus Energy	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	93.7%	93.7%	-1.3%
KNTK_5312025_Dip_Buyer_ValueBuy	05312025	KNTK	Kinetik	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-12.1%	-12.1%	-18.1%
WHD_4302025_Dip_Buyer_FCFYield	04302025	WHD	Cactus	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	12.1%	12.1%	-11.4%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
TDW_9302025_Dip_Buyer_FCFYield	09302025	TDW	Tidewater	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-7.4%	-7.4%	-11.3%
OKE_9302025_Dip_Buyer_ValueBuy	09302025	OKE	ONEOK	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-7.9%	-7.9%	-7.9%
LEU_8312025_Quality_Momentum_RoomToRun_10%	08312025	LEU	Centrus Energy	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	93.7%	93.7%	-1.3%
KNTK_5312025_Dip_Buyer_ValueBuy	05312025	KNTK	Kinetik	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-12.1%	-12.1%	-18.1%
WHD_4302025_Dip_Buyer_FCFYield	04302025	WHD	Cactus	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	12.1%	12.1%	-11.4%

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	GH	Guardant Health	27.9%	202.5%
2	GCI	Gannett	27.7%	3.8%
3	FORM	FormFactor	24.2%	34.7%
4	VIAV	Viavi Solutions	22.3%	69.3%
5	GSAT	Globalstar	22.2%	63.5%
6	MTSR	Metsera	22.1%	63729900.0%
7	PRM	Perimeter Solutions	21.1%	102.3%
8	CHRW	C.H. Robinson Worldwide	19.7%	52.6%
9	INSM	Insmed	16.3%	181.3%
10	CAH	Cardinal Health	15.4%	62.8%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	FMC	FMC	-46.5%	-66.6%
2	APLS	Apellis Pharmaceuticals	-31.0%	-35.0%
3	THRY	Thryv	-30.2%	-44.8%
4	SFM	Sprouts Farmers Market	-26.1%	-39.2%
5	IART	Integra Lifesciences	-23.5%	-47.9%
6	ITRI	Itron	-21.1%	0.4%
7	WOLF	Wolfspeed	-18.2%
8	CMG	Chipotle Mexican Grill	-18.2%	-46.1%
9	CI	Cigna	-17.4%	-9.2%
10	EME	EMCOR	-16.6%	43.0%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	INBX	Inhibrx Biosciences	176.8%	409.8%
2	PUMP	ProPetro	71.2%	16.2%
3	RNA	Avidity Biosciences	43.5%	139.6%
4	DYN	Dyne Therapeutics	42.8%	-0.0%
5	GCI	Gannett	39.3%	3.8%
6	FORM	FormFactor	38.3%	34.7%
7	MBX	MBX Biosciences	35.1%	18.2%
8	BBNX	Beta Bionics	33.8%
9	GH	Guardant Health	33.3%	202.5%
10	LUMN	Lumen Technologies	32.7%	94.7%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	PMI	Picard Medical	-75.2%	5106.3%
2	LRN	Stride	-56.1%	-35.8%
3	NTLA	Intellia Therapeutics	-52.6%	5.2%
4	FMC	FMC	-48.7%	-66.6%
5	FI	Fiserv	-47.4%	-68.3%
6	VRNS	Varonis Systems	-43.8%	-21.2%
7	THRY	Thryv	-33.4%	-44.8%
8	NFE	New Fortress Energy	-30.5%	-91.9%
9	AKBA	Akebia Therapeutics	-29.5%	10.5%
10	UAMY	United States Antimony	-28.9%	371.2%

1 Month Top Gainers

#	Ticker	Company	1M Rtn	YTD Rtn
1	PRAX	Praxis Precision Medicines	279.1%	161.2%
2	INBX	Inhibrx Biosciences	131.0%	409.8%
3	PUMP	ProPetro	99.6%	16.2%
4	DYN	Dyne Therapeutics	88.4%	-0.0%
5	VICR	Vicor	85.4%	89.2%
6	CELC	Celcuity	74.6%	503.2%
7	GLUE	Monte Rosa Therapeutics	73.5%	87.5%
8	NVTS	Navitas Semiconductor	72.1%	251.8%
9	LUMN	Lumen Technologies	70.3%	94.7%
10	BALY	Ballys	63.4%	4.1%

1 Month Top Losers

#	Ticker	Company	1M Rtn	YTD Rtn
1	PMI	Picard Medical	-62.9%	5106.3%
2	LRN	Stride	-53.8%	-35.8%
3	FMC	FMC	-51.0%	-66.6%
4	FI	Fiserv	-48.3%	-68.3%
5	NFE	New Fortress Energy	-43.6%	-91.9%
6	VG	Venture Global	-41.7%
7	OGN	Organon	-40.2%	-55.0%
8	VRNS	Varonis Systems	-39.5%	-21.2%
9	ITGR	Integer	-38.5%	-52.2%
10	LENZ	LENZ Therapeutics	-37.9%	5.5%

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	GH	Guardant Health	27.9%	202.5%
2	GCI	Gannett	27.7%	3.8%
3	FORM	FormFactor	24.2%	34.7%
4	VIAV	Viavi Solutions	22.3%	69.3%
5	GSAT	Globalstar	22.2%	63.5%
6	MTSR	Metsera	22.1%	63729900.0%
7	PRM	Perimeter Solutions	21.1%	102.3%
8	CHRW	C.H. Robinson Worldwide	19.7%	52.6%
9	INSM	Insmed	16.3%	181.3%
10	CAH	Cardinal Health	15.4%	62.8%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	FMC	FMC	-46.5%	-66.6%
2	APLS	Apellis Pharmaceuticals	-31.0%	-35.0%
3	THRY	Thryv	-30.2%	-44.8%
4	SFM	Sprouts Farmers Market	-26.1%	-39.2%
5	IART	Integra Lifesciences	-23.5%	-47.9%
6	ITRI	Itron	-21.1%	0.4%
7	WOLF	Wolfspeed	-18.2%
8	CMG	Chipotle Mexican Grill	-18.2%	-46.1%
9	CI	Cigna	-17.4%	-9.2%
10	EME	EMCOR	-16.6%	43.0%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	INBX	Inhibrx Biosciences	176.8%	409.8%
2	PUMP	ProPetro	71.2%	16.2%
3	RNA	Avidity Biosciences	43.5%	139.6%
4	DYN	Dyne Therapeutics	42.8%	-0.0%
5	GCI	Gannett	39.3%	3.8%
6	FORM	FormFactor	38.3%	34.7%
7	MBX	MBX Biosciences	35.1%	18.2%
8	BBNX	Beta Bionics	33.8%
9	GH	Guardant Health	33.3%	202.5%
10	LUMN	Lumen Technologies	32.7%	94.7%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	PMI	Picard Medical	-75.2%	5106.3%
2	LRN	Stride	-56.1%	-35.8%
3	NTLA	Intellia Therapeutics	-52.6%	5.2%
4	FMC	FMC	-48.7%	-66.6%
5	FI	Fiserv	-47.4%	-68.3%
6	VRNS	Varonis Systems	-43.8%	-21.2%
7	THRY	Thryv	-33.4%	-44.8%
8	NFE	New Fortress Energy	-30.5%	-91.9%
9	AKBA	Akebia Therapeutics	-29.5%	10.5%
10	UAMY	United States Antimony	-28.9%	371.2%

Peer Comparisons for CBL International

Financials

	BANL	FRO	TMDE	TOPS	ENB	Median
Name	CBL Inte.	Frontline	TMD Ener.	TOP Ships	Enbridge
Mkt Price	0.50	24.37	0.72	6.10	46.98	6.10
Mkt Cap	-	5.4	-	-	102.4	53.9
Rev LTM	-	1,824	-	2	64,477	1,824
Op Inc LTM	-	387	-	-5	11,146	387
FCF LTM	-	615	-	-	4,875	2,745
FCF 3Y Avg	-	-179	-	-	6,856	3,338
CFO LTM	-	624	-	-	12,926	6,775
CFO 3Y Avg	-	726	-	-	12,950	6,838

Growth & Margins

	BANL	FRO	TMDE	TOPS	ENB	Median
Name	CBL Inte.	Frontline	TMD Ener.	TOP Ships	Enbridge
Rev Chg LTM	-	-5.3%	-	-95.8%	48.2%	-5.3%
Rev Chg 3Y Avg	-	35.9%	-	-49.4%	10.2%	10.2%
Rev Chg Q	-	-13.7%	-	-77.1%	31.2%	-13.7%
QoQ Delta Rev Chg LTM	-	-4.0%	-	-67.4%	5.8%	-4.0%
Op Mgn LTM	-	21.2%	-	-208.7%	17.3%	17.3%
Op Mgn 3Y Avg	-	34.6%	-	-55.9%	19.2%	19.2%
QoQ Delta Op Mgn LTM	-	-5.7%	-	-202.2%	-0.4%	-5.7%
CFO/Rev LTM	-	34.2%	-	-	20.0%	27.1%
CFO/Rev 3Y Avg	-	38.3%	-	-	25.7%	32.0%
FCF/Rev LTM	-	33.7%	-	-	7.6%	20.6%
FCF/Rev 3Y Avg	-	-8.7%	-	-	14.0%	2.7%

Valuation

	BANL	FRO	TMDE	TOPS	ENB	Median
Name	CBL Inte.	Frontline	TMD Ener.	TOP Ships	Enbridge
Mkt Cap	-	5.4	-	-	102.4	53.9
P/S	-	3.0	-	-	1.6	2.3
P/EBIT	-	10.3	-	-	7.5	8.9
P/E	-	22.8	-	-	15.4	19.1
P/CFO	-	8.7	-	-	7.9	8.3
Total Yield	-	9.9%	-	-	14.4%	12.1%
Dividend Yield	-	5.5%	-	-	7.9%	6.7%
FCF Yield 3Y Avg	-	1.3%	-	-	8.6%	4.9%
D/E	-	0.7	-	-	1.0	0.8
Net D/E	-	0.6	-	-	1.0	0.8

Returns

	BANL	FRO	TMDE	TOPS	ENB	Median
Name	CBL Inte.	Frontline	TMD Ener.	TOP Ships	Enbridge
1M Rtn	-33.5%	6.9%	-12.1%	3.6%	-6.9%	-6.9%
3M Rtn	-30.1%	34.4%	-20.2%	5.7%	5.2%	5.2%
6M Rtn	-46.9%	49.2%	-47.8%	4.9%	4.1%	4.1%
12M Rtn	-48.6%	33.8%	-	-24.0%	22.8%	-0.6%
3Y Rtn	-	162.3%	-	-89.2%	47.4%	47.4%
1M Excs Rtn	-35.1%	4.9%	-13.4%	3.0%	-6.9%	-6.9%
3M Excs Rtn	-36.4%	22.3%	-26.6%	-5.6%	-6.2%	-6.2%
6M Excs Rtn	-68.7%	27.5%	-69.6%	-16.8%	-17.6%	-17.6%
12M Excs Rtn	-64.1%	14.1%	-	-45.7%	4.8%	-20.5%
3Y Excs Rtn	-	80.8%	-	-166.7%	-26.2%	-26.2%

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020
Period End	0/0/-1	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Filing Date	0/0/-1	4/16/2025	4/18/2024	4/26/2023	11/15/2022	11/15/2022
Key Financials
Total Revenue	-	593	436	463	327	234
EBITDA	-	-3	2	5	4	4
Operating Income	-	-3	2	5	4	3
Net Income	-	-4	1	4	4	3
EPS	-	-0.14	0.04	0.15	0.14	0.12
Growth Rates
Total Revenue Growth	-	35.9%	-5.8%	41.8%	39.4%	-
EBITDA Growth	-	-235.9%	-58.6%	12.1%	24.1%	-
Operating Income Growth	-	-300.2%	-65.1%	12.5%	22.6%	-
Net Income Growth	-	-427.9%	-69.1%	3.3%	24.0%	-
Margins
EBITDA Margin	-	-0.5%	0.5%	1.1%	1.4%	1.5%
Operating Income Margin	-	-0.6%	0.4%	1.0%	1.3%	1.5%
Net Income Margin	-	-0.6%	0.3%	0.8%	1.1%	1.2%
Cash & Debt
Total Cash	�	8	7	5	3	6
Total Debt	0	2	0	0	0	0
Net Debt / (Cash)	�	-6	-7	-5	-3	-5
Cash Flows
Net Cash from Operations	-	-2	-10	3	-3	3
Free Cash from Operations	-	-2	-11	3	-3	3
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0
Share Repurchases	-0	-0	-0	-0	-0	-0

$ Mil \| FY: 12/31
Period End
Filing Date
Key Financials Quarterly
Total Revenue
Ebitda
Operating Income
Net Income
EPS
Key Financials TTM
Total Revenue TTM
Ebitda TTM
Operating Income TTM
Net Income TTM
Growth Rates Quarterly
Total Revenue Growth
EBITDA Growth
Operating Income Growth
Net Income Growth
Margins Quarterly
EBITDA Margin
Operating Income Margin
Net Income Margin
Cash & Debt
Total Cash
Total Debt
Net Debt / (Cash)
Cash Flows Quarterly
FCF from Operations
Cash Flows TTM
FCF from Operations TTM
Returns to Shareholders Quarterly
Dividends
Share Repurchases
Return on Invested Capital (ROIC) Quarterly
ROIC
Return on Invested Capital (ROIC) TTM
ROIC TTM

	1M	2M	3M	6M	1Y	3Y
Beta	-1.40	0.90	1.71	0.85	0.76	0.04
Up Beta	0.06	1.47	0.59	1.33	1.39	1.77
Down Beta	-2.32	2.27	3.38	-0.35	0.00	0.05
Up Capture	38%	44%	69%	71%	57%	8%
Bmk +ve Days	13	23	35	74	144	420
Stock +ve Days	8	17	27	55	113	261
Down Capture	-438%	13%	294%	154%	76%	103%
Bmk -ve Days	8	19	29	52	107	330
Stock -ve Days	9	19	30	61	122	333

Short Interest

Short Interest: As Of Date	10152025
Short Interest: Shares Quantity	13,137
Short Interest: % Change Since 9302025	-22.6%
Average Daily Volume	29,428
Days-to-Cover Short Interest	1

SEC Filings

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Report Date	Filing Date	Filing
6302025	9022025	6-K 6/30/2025
12312024	4162025	20-F 12/31/2024
6302024	9122024	6-K 6/30/2024
12312023	4182024	20-F 12/31/2023
6302023	9142023	6-K 6/30/2023
12312022	4262023	20-F 12/31/2022
12312021	11152022	F-1/A 12/31/2021

Insider Activity

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External Quote Links

0	Y Finance	Barrons
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2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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CBL International (BANL)

Market Price (10/31/2025): $0.49 | Market Cap: $-Sector: Energy | Industry: Oil & Gas Storage & Transportation

CBL International (BANL)

Market Price (10/31/2025): $0.49Market Cap: $-Sector: EnergyIndustry: Oil & Gas Storage & Transportation

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Market Price (10/31/2025): $0.49 | Market Cap: $-
Sector: Energy | Industry: Oil & Gas Storage & Transportation

Market Price (10/31/2025): $0.49
Market Cap: $-
Sector: Energy
Industry: Oil & Gas Storage & Transportation