Revenue growth of 46.2% in 2026Q1, coupled with a 61.6% gross margin, suggests that the company's operational leverage effectively translates market demand into significant bottom-line profitability.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 |
|---|
| Sales/Revenue | 1.04B | 938.22M | 1.24B | 1.34B | 1.56B | 540.79M | 915.89M | 704.33M | 585.05M | 512.73M | 522.75M | 755.71M | 342.81M | 207.58M | 115.38M | 82.11M | 38.8M | 27.62M | 39.27M | 30.32M |
| Revenue Growth % | -2.77% | -24.58% | -7.25% | -14.18% | 189% | -40.96% | 30.04% | 20.39% | 14.1% | -1.92% | -30.83% | 120.45% | 65.14% | 79.91% | 40.52% | 111.63% | 40.48% | -29.68% | 29.54% | - |
| Cost of Goods Sold | 380.06M | 505.12M | 534.84M | 531.33M | 623.26M | 578.55M | 587.52M | 512.06M | 521.96M | 456.13M | 389.02M | 383.21M | 268.14M | 184.19M | 110.62M | 61M | 20.98M | 11.64M | 15.35M | 7.6M |
| COGS % of Revenue | - | 53.84% | 42.99% | 39.62% | 39.88% | 106.98% | 64.15% | 72.7% | 89.22% | 88.96% | 74.42% | 50.71% | 78.22% | 88.73% | 95.87% | 74.29% | 54.08% | 42.13% | 39.07% | 25.07% |
| Gross Profit | 536.91M | 433.1M | 709.11M | 809.89M | 939.62M | -37.76M | 328.37M | 192.27M | 63.09M | 56.6M | 133.73M | 372.5M | 74.67M | 23.39M | 4.76M | 21.11M | 17.82M | 15.98M | 23.93M | 22.72M |
| Gross Margin % | 51.77% | 46.16% | 57% | 60.38% | 60.12% | -6.98% | 35.85% | 27.3% | 10.78% | 11.04% | 25.58% | 49.29% | 21.78% | 11.27% | 4.13% | 25.71% | 45.92% | 57.87% | 60.93% | 74.93% |
| Gross Profit Growth % | - | -38.92% | -12.44% | -13.81% | 2588.26% | -111.5% | 70.79% | 204.77% | 11.45% | -57.67% | -64.1% | 398.89% | 219.19% | 390.91% | -77.43% | 18.49% | 11.46% | -33.2% | 5.33% | - |
| Operating Expenses | 94.89M | 123.41M | -55.49M | 106.25M | 141.91M | 52.75M | 83.03M | 62.3M | 52.27M | 47.51M | 54.9M | 65.83M | 48.13M | 25.79M | 11.54M | 30.1M | 16.65M | 7.25M | 7.58M | 7.07M |
| OpEx % of Revenue | - | 13.15% | -4.46% | 7.92% | 9.08% | 9.75% | 9.07% | 8.84% | 8.93% | 9.27% | 10.5% | 8.71% | 14.04% | 12.42% | 10% | 36.65% | 42.93% | 26.26% | 19.31% | 23.33% |
| Selling, General & Admin | 134.04M | 123.41M | 121.05M | 106.25M | 88.13M | 52.75M | 66.19M | 62.3M | 52.27M | 47.51M | 54.9M | 65.83M | 48.13M | 25.79M | 11.54M | 11.64M | 6.48M | 416.91K | 600.36K | 590.77K |
| SG&A % of Revenue | - | 13.15% | 9.73% | 7.92% | 5.64% | 9.75% | 7.23% | 8.84% | 8.93% | 9.27% | 10.5% | 8.71% | 14.04% | 12.42% | 10% | 14.17% | 16.69% | 1.51% | 1.53% | 1.95% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | -1000K | 0 | -176.54M | 0 | 53.78M | 0 | 16.85M | 0 | 0 | 0 | -188K | 0 | -103K | -158K | -97K | 18.46M | 10.18M | 6.83M | 6.98M | 6.48M |
| Operating Income | 402.87M | 309.7M | 764.6M | 705.15M | 797.71M | -90.51M | 245.33M | 129.97M | 10.54M | -44.95M | 76.75M | 307.08M | 71.01M | 17.79M | -17.18M | -75.6M | 1.16M | 4.22M | 16.34M | 15.64M |
| Operating Margin % | 38.85% | 33.01% | 61.47% | 52.58% | 51.04% | -16.74% | 26.79% | 18.45% | 1.8% | -8.77% | 14.68% | 40.64% | 20.71% | 8.57% | -14.89% | -92.07% | 2.99% | 15.28% | 41.61% | 51.6% |
| Operating Income Growth % | - | -59.5% | 8.43% | -11.6% | 981.37% | -136.89% | 88.76% | 1132.9% | 123.45% | -158.57% | -75.01% | 332.47% | 299.1% | 203.59% | 77.28% | -6613.81% | -72.5% | -74.18% | 4.48% | - |
| EBITDA | 580.02M | 490.03M | 949.92M | 907.65M | 1B | 149.75M | 491.15M | 336.94M | 187.26M | 96.47M | 198.21M | 414.44M | 113.62M | 41.39M | -2.36M | -53.78M | 12.33M | 11.06M | 23.33M | 22.13M |
| EBITDA Margin % | 55.93% | 52.23% | 76.36% | 67.67% | 64.28% | 27.69% | 53.63% | 47.84% | 32.01% | 18.81% | 37.92% | 54.84% | 33.15% | 19.94% | -2.04% | -65.49% | 31.77% | 40.03% | 59.4% | 72.98% |
| EBITDA Growth % | -23.89% | -48.41% | 4.66% | -9.64% | 570.83% | -69.51% | 45.77% | 79.93% | 94.12% | -51.33% | -52.17% | 264.75% | 174.54% | 1855.92% | 95.62% | -536.22% | 11.51% | -52.61% | 5.43% | - |
| D&A (Non-Cash Add-back) | 177.15M | 180.34M | 185.32M | 202.5M | 206.84M | 240.25M | 245.82M | 206.97M | 176.72M | 141.42M | 121.46M | 107.36M | 42.62M | 23.59M | 14.82M | 21.82M | 11.17M | 6.83M | 6.98M | 6.48M |
| EBIT | 412.9M | 411.54M | 760.55M | 706.31M | 851.48M | -93.94M | 262.18M | 129.24M | 10.81M | -57.85M | 50.52M | 289.93M | 67.98M | 18M | -23.12M | -77.78M | 408.79K | 8.73M | 16.34M | 15.64M |
| Net Interest Income | -35.05M | -58.24M | -85.07M | -147.59M | -151.45M | -136.88M | -153.72M | -178.05M | -182.17M | -114.7M | -102.83M | -89.45M | -20.57M | -1.56M | -8.48M | -7.01M | -3.19M | -694.19K | -1.68M | -1.81M |
| Interest Income | 25.46M | 21.89M | 15.95M | 19.11M | 6.88M | 3.62M | 1.25M | 8.18M | 4.46M | 1.54M | 1.21M | 145K | 203K | 1.15M | 35K | 51.01K | 36.53K | 4.93K | 35.49K | 142.23K |
| Interest Expense | 60.51M | 80.13M | 101.01M | 166.71M | 158.33M | 140.5M | 154.97M | 186.24M | 186.63M | 116.24M | 104.05M | 89.6M | 20.77M | 2.71M | 8.51M | 7.06M | 3.23M | 699.12K | 1.71M | 1.95M |
| Other Income/Expense | 99.47M | 34.59M | -95.83M | -158.25M | -160.46M | -143.93M | -151.21M | -178.46M | -200.61M | -113.29M | -101.65M | -89.33M | -18.92M | -777K | -9.36M | -73.74M | -3.98M | -802.44K | -4.16M | -3.59M |
| Pretax Income | 502.34M | 344.29M | 668.77M | 546.9M | 637.25M | -234.44M | 94.12M | -48.49M | -190.07M | -158.24M | -24.9M | 217.75M | 52.09M | 17.02M | -26.54M | -82.73T | -2.82T | 3.42T | 13.86M | 13.86M |
| Pretax Margin % | 48.44% | 36.7% | 53.76% | 40.78% | 40.77% | -43.35% | 10.28% | -6.88% | -32.49% | -30.86% | -4.76% | 28.81% | 15.2% | 8.2% | -23% | -99999900% | -7273839.7% | 12375654.17% | 35.29% | 45.73% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 73.74M | 3.98M | 5.31M | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -0% | -0% | 0% | 0% | 0% |
| Net Income | 502.34M | 344.29M | 668.77M | 546.9M | 637.25M | -234.44M | 94.12M | -48.49M | -190.07M | -158.24M | -24.9M | 217.75M | 52.09M | 17.02M | -26.54M | -82.73M | -2.82M | 3.42M | 12.19M | 12.05M |
| Net Margin % | 48.44% | 36.7% | 53.76% | 40.78% | 40.77% | -43.35% | 10.28% | -6.88% | -32.49% | -30.86% | -4.76% | 28.81% | 15.2% | 8.2% | -23% | -100.75% | -7.27% | 12.38% | 31.03% | 39.76% |
| Net Income Growth % | -2.04% | -48.52% | 22.29% | -14.18% | 371.82% | -349.07% | 294.11% | 74.49% | -20.12% | -535.43% | -111.44% | 318.02% | 206.15% | 164.12% | 67.92% | -2831.39% | -182.56% | -71.95% | 1.1% | - |
| Net Income (Continuing) | 502.34M | 344.29M | 668.77M | 546.9M | 637.25M | -234.44M | 94.12M | -48.49M | -190.07M | -158.24M | -24.9M | 217.75M | 52.09M | 17.02M | -26.54M | -82.73M | -2.82M | 3.42M | 12.19M | 12.05M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 10.04 | 7.03 | 13.15 | 10.03 | 10.34 | -4.28 | 1.67 | -0.97 | -5.46 | -7.35 | -1.55 | 12.00 | 3.00 | 1.10 | -6.41 | -28.82 | -1.81 | 6.10 | 21.80 | 21.60 |
| EPS Growth % | 0.2% | -46.54% | 31.11% | -3% | 341.59% | -356.29% | 272.16% | 82.23% | 25.71% | -374.19% | -112.92% | 300% | 172.73% | 117.16% | 77.76% | -1492.27% | -129.67% | -72.02% | 0.93% | - |
| EPS (Basic) | - | 7.40 | 13.78 | 10.44 | 11.49 | -4.28 | 1.72 | -0.97 | -5.46 | -7.35 | -1.55 | 13.50 | 3.00 | 1.20 | -6.41 | -28.82 | -1.81 | 6.10 | 21.80 | 21.60 |
| Diluted Shares Outstanding | 50.03M | 48.95M | 50.87M | 54.53M | 63.51M | 54.72M | 56.39M | 49.86M | 34.82M | 21.53M | 16.11M | 19.97M | 17.36M | 14.83M | 4.14M | 2.87M | 1.56M | 558.91K | 558.91K | 558.91K |
| Basic Shares Outstanding | 47.19M | 48.97M | 48.54M | 52.37M | 55.46M | 54.72M | 54.67M | 49.86M | 34.81M | 21.53M | 16.07M | 16.14M | 17.36M | 14.65M | 4.14M | 2.87M | 1.56M | 558.91K | 558.91K | 558.91K |
| Dividend Payout Ratio | - | 23.97% | 12.49% | 10.54% | 3.66% | - | 24.76% | - | - | - | - | 39.98% | 135.33% | 143.13% | - | - | - | 253.39% | 154.15% | 58.85% |
Cyclical freight rate volatility
According to reported financial statements, Scorpio Tankers experienced a significant revenue rebound in 2026Q1, reaching $312.9 million, which represents a 46.2% year-over-year growth rate, highlighting the company's sensitivity to spot market fluctuations and the ongoing impact of global refined product trade route disruptions.
The revenue trajectory appears highly erratic, reflecting the inherent cyclicality of the product tanker market rather than consistent organic growth. Investors should monitor whether the recent uptick in 2026Q1 is a sustainable trend driven by structural ton-mile demand or merely a temporary spike caused by geopolitical transit bottlenecks.
Based on the provided income statement data, Scorpio Tankers maintained a robust gross margin of 61.6% in 2026Q1, suggesting that the company's modern, eco-efficient fleet continues to command premium pricing power relative to industry peers during periods of elevated freight rate environments.
The ability to sustain gross margins above 45% for the majority of the observed period indicates that the company's cost-per-vessel remains well-covered by current TCE rates. This margin profile appears to validate the strategic focus on high-specification vessels, though it remains vulnerable to sudden increases in bunker fuel costs.
As reported in recent filings, Scorpio Tankers demonstrated significant operating leverage, with operating income scaling to $153.6 million in 2026Q1, effectively translating top-line revenue gains into substantial profitability as fixed costs remain relatively contained across the company's extensive 124-vessel fleet.
The company's operating margin of 49.1% in the most recent quarter underscores a lean cost structure where incremental revenue flows efficiently to the operating line. This suggests that management has successfully optimized overhead, though the high fixed-cost nature of the business implies that any sustained downturn in rates could lead to rapid margin compression.
Analysis of the income statement reveals that net income reached $216.3 million in 2026Q1, though investors should note that historical earnings were periodically impacted by stock-based compensation expenses, which totaled $18.3 million as recently as 2025Q2, potentially diluting the quality of reported per-share results.
While the recent absence of stock-based compensation in 2026Q1 suggests a cleaner earnings profile, the historical reliance on such incentives warrants caution regarding management's long-term alignment with shareholders. The significant net income volatility observed over the last ten quarters suggests that reported EPS may not always reflect underlying operational cash generation.
Based on the provided data, a critical challenge to the current narrative is the extreme sensitivity of net income to spot market rates, as evidenced by the sharp 70.3% decline in EPS growth during 2025Q1, which highlights the potential for rapid earnings erosion during cyclical downturns.
Short-term observers might argue that the current profitability is unsustainable and heavily dependent on geopolitical tailwinds that could dissipate. Furthermore, the reliance on spot-market exposure means that any sudden increase in global vessel supply, perhaps from a 'shadow fleet,' could undermine the premium rates currently supporting the company's strong financial performance.
Quick answers to the most common questions about buying STNG stock.
For fiscal year 2025, Scorpio Tankers Inc. (STNG) reported total revenue of $938.2M. This represents a 2994.7% increase compared to $30.3M in 2007.
Scorpio Tankers Inc. (STNG) is profitable, generating $344.3M in net income for the fiscal year ending 2025 with a net profit margin of 36.7%.
Scorpio Tankers Inc. (STNG) reported an operating income of $309.7M, resulting in an operating profit margin of 33.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Scorpio Tankers Inc. (STNG) generated $433.1M in gross profit for the year, representing a gross profit margin of 46.2%. This demonstrates the company's core pricing power and production efficiency.