The company's revenue trajectory has collapsed by 79.3% year-over-year, while gross margins have compressed to a precarious 0.7% as of 2025Q4.
| Sales/Revenue | 538.49M | 592.52M | 435.9M | 462.91M | 326.54M | 234.26M |
| Revenue Growth % | -9.12% | 35.93% | -5.83% | 41.76% | 39.39% | - |
| Cost of Goods Sold | 534.02M | 587.14M | 428.69M | 453.78M | 318.95M | 228.05M |
| COGS % of Revenue | 99.17% | 99.09% | 98.35% | 98.03% | 97.68% | 97.35% |
| Gross Profit | 4.47M | 5.37M | 7.21M | 9.13M | 7.59M | 6.21M |
| Gross Margin % | 0.83% | 0.91% | 1.65% | 1.97% | 2.32% | 2.65% |
| Gross Profit Growth % | -16.8% | -25.47% | -20.97% | 20.21% | 22.22% | - |
| Operating Expenses | 6.91M | 8.7M | 5.55M | 4.36M | 3.36M | 2.76M |
| OpEx % of Revenue | 1.28% | 1.47% | 1.27% | 0.94% | 1.03% | 1.18% |
| Selling, General & Admin | 6.91M | 8.7M | 5.55M | 4.36M | 3.36M | 2.76M |
| SG&A % of Revenue | 1.28% | 1.47% | 1.27% | 0.94% | 1.03% | 1.18% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -2.43M | -3.33M | 1.66M | 4.76M | 4.23M | 3.45M |
| Operating Margin % | -0.45% | -0.56% | 0.38% | 1.03% | 1.3% | 1.47% |
| Operating Income Growth % | 26.88% | -300.24% | -65.09% | 12.51% | 22.57% | - |
| EBITDA | -1.89M | -2.8M | 1.82M | 4.84M | 4.27M | 3.49M |
| EBITDA Margin % | -0.35% | -0.47% | 0.42% | 1.04% | 1.31% | 1.49% |
| EBITDA Growth % | 32.63% | -254.05% | -62.41% | 13.11% | 22.51% | - |
| D&A (Non-Cash Add-back) | 546.93K | 527.54K | 155.83K | 75.17K | 43.96K | 37.59K |
| EBIT | -2.2M | -3.31M | 1.66M | 4.76M | 4.23M | 6.9M |
| Net Interest Income | -744.44K | -570.69K | -231.63K | -259.99K | -3.36K | -718 |
| Interest Income | 42.94K | 21.17K | 70.85K | 1.71K | 70 | 640 |
| Interest Expense | 787.38K | 591.86K | 302.49K | 261.7K | 3.43K | 1.36K |
| Other Income/Expense | -556.63K | -573.31K | -230.57K | -260.88K | -5.71K | -46.99K |
| Pretax Income | -2.99M | -3.9M | 1.43M | 4.5M | 4.23M | 3.4M |
| Pretax Margin % | -0.56% | -0.66% | 0.33% | 0.97% | 1.29% | 1.45% |
| Income Tax | -394 | -29.48K | 298.61K | 814.47K | 656.32K | 527.07K |
| Effective Tax Rate % | 0.01% | 0.76% | 20.86% | 18.1% | 15.53% | 15.48% |
| Net Income | -2.97M | -3.74M | 1.14M | 3.69M | 3.57M | 2.88M |
| Net Margin % | -0.55% | -0.63% | 0.26% | 0.8% | 1.09% | 1.23% |
| Net Income Growth % | 20.49% | -427.94% | -69.08% | 3.25% | 24.02% | - |
| Net Income (Continuing) | -2.99M | -3.87M | 1.13M | 3.69M | 3.57M | 2.88M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | -31.74K | -6.53K | 0 | 0 | 0 |
| EPS (Diluted) | -0.03 | -0.14 | 0.05 | 0.17 | 0.14 | 0.03 |
| EPS Growth % | 82% | -407.02% | -73.18% | 21.43% | 401.79% | - |
| EPS (Basic) | -0.03 | -0.14 | 0.05 | 0.17 | 0.14 | 0.03 |
| Diluted Shares Outstanding | 27.5M | 27.5M | 25M | 21.25M | 24.57M | 24.57M |
| Basic Shares Outstanding | 27.5M | 27.5M | 25M | 21.25M | 24.57M | 24.57M |
| Dividend Payout Ratio | - | - | - | - | - | - |
Margin compression and volume loss
According to the most recent quarterly filings, BANL experienced a sharp revenue decline of 79.3% year-over-year, signaling a significant reduction in refueling volumes that suggests the company is struggling to maintain its competitive position within its primary Asian maritime hubs of Hong Kong and Port Klang.
The precipitous drop in top-line figures indicates that the firm's transactional model is highly sensitive to regional shipping activity. This trend suggests that the company may be losing market share or that broader trade volumes in its core operating regions have faced a substantial, sustained downturn.
As reported in financial statements, the company's gross margin has compressed to a razor-thin 0.7% in 2025Q4, reflecting an inability to pass through operational costs in a highly competitive environment where the firm lacks the physical infrastructure to differentiate its service offering from larger, asset-heavy maritime logistics peers.
The consistent compression of gross margins from historical levels above 2% suggests that the company's value-add as a credit intermediary is being commoditized. Investors should monitor whether this margin decay is a permanent structural shift or a temporary byproduct of aggressive pricing strategies intended to defend volume.
Based on the company's reported figures, operating income has transitioned into negative territory, with a -0.6% operating margin in 2025Q4, indicating that the firm's fixed administrative expenses are currently outpacing the meager gross profit generated by its high-volume, low-margin marine fuel brokerage business model.
The inability to scale operating income alongside revenue suggests that the company lacks the necessary operating leverage to achieve profitability at current volume levels. This implies that without a significant increase in throughput or a reduction in overhead, the current cost structure may remain unsustainable.
Data from recent income statements suggests that the company's reliance on a pure-play brokerage model, characterized by a 0.83% average gross margin, leaves it exceptionally vulnerable to customer credit defaults and regional trade route disruptions, which could rapidly deplete the firm's existing $12.5 million cash reserve.
Short-term observers may focus on the company's low debt levels as a sign of safety, yet the persistent net losses suggest that the business model is currently consuming capital rather than generating it. The lack of proprietary physical assets means the firm has little recourse if its credit-intermediation services are bypassed by larger, more integrated competitors.
Quick answers to the most common questions about buying BANL stock.
For fiscal year 2025, CBL International Limited (BANL) reported total revenue of $538.5M. This represents a 129.9% increase compared to $234.3M in 2020.
CBL International Limited (BANL) reported a net loss of $3.0M for the fiscal year ending 2025.
CBL International Limited (BANL) reported an operating income of $-2.4M, resulting in an operating profit margin of -0.5%. This margin reflects the operational efficiency of the business before interest and taxes.
CBL International Limited (BANL) generated $4.5M in gross profit for the year, representing a gross profit margin of 0.8%. This demonstrates the company's core pricing power and production efficiency.