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Tsakos Energy Navigation Limited (TEN) 10-Year Financial Performance & Capital Metrics

TEN • • Industrial / General
EnergyMidstream Oil & GasMarine TransportationCrude Oil Tanker Operators
AboutTsakos Energy Navigation Limited provides seaborne crude oil and petroleum product transportation services worldwide. The company offers marine transportation services for national, major, and other independent oil companies and refiners under long, medium, and short-term charters. It also operates a fleet of double-hull vessels, comprising of conventional tankers, LNG carriers, and suezmax DP2 shuttle tankers. The company was formerly known as MIF Limited and changed its name to Tsakos Energy Navigation Limited in July 2001. The company was incorporated in 1993 and is based in Athens, Greece.Show more
  • Revenue $804M -9.6%
  • EBITDA $418M -21.9%
  • Net Income $176M -41.3%
  • EPS (Diluted) 5.03 -44.4%
  • Gross Margin 34.23% -17.7%
  • EBITDA Margin 52.03% -13.6%
  • Operating Margin 34.64% -21.3%
  • Net Margin 21.92% -35.0%
  • ROE 10.31% -45.5%
  • ROIC 6.89% -32.4%
  • Debt/Equity 1.00 +3.0%
  • Interest Coverage 2.46 -33.1%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong 5Y profit CAGR of 63.4%
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Healthy 5Y average net margin of 11.1%
  • ✓Trading near 52-week high
  • ✓Trading at only 0.4x book value

✗Weaknesses

  • ✗Negative free cash flow
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-20.93%
5Y6.12%
3Y13.76%
TTM-3.67%

Profit (Net Income) CAGR

10Y-2.46%
5Y63.41%
3Y-
TTM-9.99%

EPS CAGR

10Y3.23%
5Y75.75%
3Y-
TTM-9.13%

ROCE

10Y Avg6.28%
5Y Avg6.03%
3Y Avg10.4%
Latest8.79%

Peer Comparison

Crude Oil Tanker Operators
Select Columns
Size & Scale
Valuation
Per Share
Growth
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Quality & Returns
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TTM Growth
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Momentum & Returns
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Technical
Volume & Trading
Shares & Dilution
Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
DHTDHT Holdings, Inc.2.14B13.2811.862%41.18%18.25%9.44%0.40
FROFrontline Ltd.5.78B25.9511.6413.77%12.34%9.37%1.60
RBNERobin Energy Ltd.9.23M3.297.48-56.64%15.53%4.38%73.91%
TKTeekay Corporation826.26M9.696.82-16.7%18.53%9.96%47.42%0.03
INSWInternational Seaways, Inc.2.76B55.786.65-11.21%28.26%11.25%9.51%0.38
TNKTeekay Tankers Ltd.1.79B59.815.15-16.58%31%16.77%22.17%0.04
TENTsakos Energy Navigation Limited771.27M25.605.09-9.61%20%8.97%1.00
TEN-PETsakos Energy Navigation Limited26.77-9.61%18.73%8.25%0.78

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+8.21B481.79M529.18M529.88M597.45M644.13M546.12M860.4M889.57M804.06M
Revenue Growth %-0.03%-0.94%0.1%0%0.13%0.08%-0.15%0.58%0.03%-0.1%
Cost of Goods Sold+6.84B366.37M426.6M464.66M456.48M483.17M544.66M573.75M519.56M528.79M
COGS % of Revenue0.83%0.76%0.81%0.88%0.76%0.75%1%0.67%0.58%0.66%
Gross Profit+1.36B115.42M102.58M65.22M140.97M160.96M1.46M286.65M370.01M275.27M
Gross Margin %0.17%0.24%0.19%0.12%0.24%0.25%0%0.33%0.42%0.34%
Gross Profit Growth %-0.02%-0.92%-0.11%-0.36%1.16%0.14%-0.99%195.87%0.29%-0.26%
Operating Expenses+840M25.61M26.32M27.03M27.7M64.27M121.31M29.85M-21.49M-3.29M
OpEx % of Revenue0.1%0.05%0.05%0.05%0.05%0.1%0.22%0.03%-0.02%-0%
Selling, General & Admin491M25.61M26.32M27.03M27.7M29.04M29.13M29.85M33.34M45.37M
SG&A % of Revenue0.06%0.05%0.05%0.05%0.05%0.05%0.05%0.03%0.04%0.06%
Research & Development146M154M158M204M324M273M285M000
R&D % of Revenue0.02%0.32%0.3%0.38%0.54%0.42%0.52%---
Other Operating Expenses203M212M224M345M-324M-237.77M-192.81M0-54.83M-48.66M
Operating Income+524M89.81M76.26M38.18M113.28M96.69M-119.86M256.35M391.5M278.56M
Operating Margin %0.06%0.19%0.14%0.07%0.19%0.15%-0.22%0.3%0.44%0.35%
Operating Income Growth %0.05%-0.83%-0.15%-0.5%1.97%-0.15%-2.24%3.14%0.53%-0.29%
EBITDA+727M203.23M215.28M184.98M252.7M233.79M6.96M377.93M535.74M418.37M
EBITDA Margin %0.09%0.42%0.41%0.35%0.42%0.36%0.01%0.44%0.6%0.52%
EBITDA Growth %0.03%-0.72%0.06%-0.14%0.37%-0.07%-0.97%53.28%0.42%-0.22%
D&A (Non-Cash Add-back)203M113.42M139.02M146.8M139.42M137.1M126.82M121.58M144.24M139.81M
EBIT187.06M95.82M75.4M-24.71M88.03M80.9M-27.67M249.81M411.54M294.93M
Net Interest Income+-28.27M-38.7M-65.13M-73.83M-70.33M-52.6M-41.12M-57.92M-91.87M-98.31M
Interest Income234K623K1.08M2.51M3.69M1.07M703K2M14.58M15.12M
Interest Expense28.5M39.32M66.21M76.34M74.02M53.67M41.82M59.92M106.45M113.3M
Other Income/Expense-29.66M-33.31M-54.29M-142.66M-99.27M-69.47M-30.72M-47.89M-86.42M-96.93M
Pretax Income+452M56.49M9.19M-101.04M14.01M27.22M-150.58M208.47M305.08M181.63M
Pretax Margin %0.06%0.12%0.02%-0.19%0.02%0.04%-0.28%0.24%0.34%0.23%
Income Tax+149M070M63M000000
Effective Tax Rate %0.55%0.99%0.83%0.98%1.08%0.88%1.01%0.98%0.98%0.97%
Net Income+247M55.78M7.61M-99.2M15.13M24M-151.4M204.23M300.18M176.23M
Net Margin %0.03%0.12%0.01%-0.19%0.03%0.04%-0.28%0.24%0.34%0.22%
Net Income Growth %0.09%-0.77%-0.86%-14.03%1.15%0.59%-7.31%2.35%0.47%-0.41%
Net Income (Continuing)158.42M56.49M9.19M-101.04M14.01M27.22M-150.58M208.47M305.08M181.63M
Discontinued Operations0000000000
Minority Interest11.6M12.31M13.88M12.04M20.92M28.14M50.99M51.02M34.09M39.49M
EPS (Diluted)+4.101.020.45-5.690.30-0.80-9.536.019.045.03
EPS Growth %0.12%-0.75%-0.56%-13.64%1.05%-3.67%-10.91%1.63%0.5%-0.44%
EPS (Basic)4.141.030.15-5.69-1.58-0.80-9.536.029.045.03
Diluted Shares Outstanding60.2M54.5M16.94M17.42M50.36M50.36M19.65M28.19M29.51M29.51M
Basic Shares Outstanding59.7M54.1M51.3M17.42M17.75M50.5M19.65M27.97M29.51M29.51M
Dividend Payout Ratio0.14%0.72%5.24%-3.26%1.95%-0.21%0.21%0.41%

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+452.23M358.31M304.39M316.88M396.51M319.87M237.82M511.21M507.89M450.37M
Cash & Short-Term Investments305.03M200.09M208.39M220.53M197.77M171.77M127.2M309.44M376.69M348.31M
Cash Only305.01M197.77M202.67M220.53M197.77M171.77M127.2M309.44M376.69M348.31M
Short-Term Investments02.32M5.71M0000000
Accounts Receivable49.63M44.98M41.57M56.27M60.45M46.06M57.97M87.09M51.98M33.66M
Days Sales Outstanding2.2134.0828.6838.7636.9326.138.7436.9421.3315.28
Inventory14.41M18.76M16.29M20.39M13.03M21.81M22.92M26.22M22.51M18.95M
Days Inventory Outstanding0.7718.6913.9416.0210.4216.4815.3616.6815.8213.08
Other Current Assets83.15M94.48M38.14M19.7M125.25M80.23M29.74M88.47M56.7M49.44M
Total Non-Current Assets+2.45B2.92B3.07B2.89B2.76B2.79B2.66B2.8B2.86B3.26B
Property, Plant & Equipment2.42B2.89B3.03B2.85B2.72B2.73B2.6B2.73B2.79B3.18B
Fixed Asset Turnover3.39x0.17x0.17x0.19x0.22x0.24x0.21x0.32x0.32x0.25x
Goodwill0000000000
Intangible Assets0000000000
Long-Term Investments1.13M6.17M15.43M14.13M13.29M27.29M24.69M23.31M28.88M33.5M
Other Non-Current Assets22.82M19.51M23.76M28.43M28.15M33.86M36.14M46.28M39.76M40.55M
Total Assets+2.9B3.28B3.37B3.21B3.15B3.11B2.89B3.31B3.36B3.71B
Asset Turnover2.83x0.15x0.16x0.17x0.19x0.21x0.19x0.26x0.26x0.22x
Asset Growth %0.07%0.13%0.03%-0.05%-0.02%-0.01%-0.07%0.14%0.02%0.1%
Total Current Liabilities+401.91M393.29M338.92M254.3M354.2M382.04M332.1M369.69M323.2M408.52M
Accounts Payable33.26M52.51M46.92M37.53M36.61M55.29M74.91M48.16M40.21M55.85M
Days Payables Outstanding1.7752.3140.1429.4829.2741.7750.230.6428.2538.55
Short-Term Debt319.56M288.13M225.88M160.58M243.05M253.4M202.69M251.85M214.07M264.46M
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Liabilities36.81M44.21M52.51M50.18M62.48M60.72M45.48M43.63M37.02M50.81M
Current Ratio1.13x0.91x0.90x1.25x1.12x0.84x0.72x1.38x1.57x1.10x
Quick Ratio1.09x0.86x0.85x1.17x1.08x0.78x0.65x1.31x1.50x1.06x
Cash Conversion Cycle1.20.452.4725.318.080.813.922.998.9-10.19
Total Non-Current Liabilities+1.08B1.47B1.53B1.44B1.33B1.35B1.27B1.42B1.39B1.53B
Long-Term Debt1.08B1.47B1.53B1.44B1.3B1.27B1.2B1.38B1.37B1.5B
Capital Lease Obligations000013.89M46.13M58.82M39.13M17.03M4.33M
Deferred Tax Liabilities0000000000
Other Non-Current Liabilities3.18M1.12M589K8.96M14.91M34.35M11.85M5K524K31.14M
Total Liabilities1.49B1.86B1.87B1.7B1.68B1.73B1.6B1.79B1.71B1.94B
Total Debt+1.4B1.75B1.75B1.6B1.56B1.57B1.46B1.67B1.6B1.76B
Net Debt1.1B1.56B1.55B1.38B1.36B1.4B1.33B1.36B1.23B1.42B
Debt / Equity0.99x1.24x1.16x1.06x1.06x1.13x1.13x1.10x0.97x1.00x
Debt / EBITDA1.93x8.63x8.14x8.63x6.16x6.70x209.96x4.41x2.99x4.22x
Net Debt / EBITDA1.51x7.66x7.20x7.43x5.37x5.97x191.69x3.59x2.29x3.38x
Interest Coverage18.39x2.28x1.15x0.50x1.53x1.80x-2.87x4.28x3.68x2.46x
Total Equity+1.42B1.42B1.51B1.51B1.47B1.38B1.29B1.52B1.65B1.77B
Equity Growth %0.2%0%0.06%-0%-0.02%-0.06%-0.07%0.18%0.09%0.07%
Book Value per Share23.5126.0189.0186.4929.2427.4465.7454.0356.0159.89
Total Shareholders' Equity1.4B1.41B1.49B1.49B1.45B1.35B1.24B1.47B1.62B1.73B
Common Stock87.34M87.34M87.34M87.61M95.08M95.97M126.22M150.92M150.92M151.54M
Retained Earnings567.46M582.89M547.94M400.93M364M338.8M149.5M311.73M548.24M652.65M
Treasury Stock0-20.17M-5.74M00-9.83M-6.79M-6.79M-6.79M-6.79M
Accumulated OCI-10.73M-4.31M-5.3M-8.66M-18.35M-36.99M-17.18M7.67M2.48M-904K
Minority Interest11.6M12.31M13.88M12.04M20.92M28.14M50.99M51.02M34.09M39.49M

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+517M163.93M167.65M69.64M444M205.42M53.11M288.53M395.28M307.68M
Operating CF Margin %0.06%0.34%0.32%0.13%0.74%0.32%0.1%0.34%0.44%0.38%
Operating CF Growth %0.52%-0.68%0.02%-0.58%5.38%-0.54%-0.74%4.43%0.37%-0.22%
Net Income247M55.78M7.61M-99.2M-334M24M-101.91M204.23M300.18M181.63M
Depreciation & Amortization203M113.42M139.02M146.8M673M140.88M126.82M121.58M123.12M139.81M
Stock-Based Compensation15M14M14M14M25M18M24M008.13M
Deferred Taxes0-79M-10M-65M-151M012M000
Other Non-Cash Items60M192.94M270.64M385.75M319M14.21M-12.05M6.39M-54.67M-67.71M
Working Capital Changes-8M15.03M21.43M-37.56M-88M8.32M4.25M-43.67M26.65M45.83M
Change in Receivables-90M-5.45M8.57M-15.99M-225M19.66M-1.33M-35.24M28.37M16.87M
Change in Inventory-36M-4.35M2.46M-4.09M284M-8.78M-1.1M-3.3M3.7M3.56M
Change in Payables90M23.4M-4.04M-12.46M-66M14.98M23.36M-27.06M-11.83M12.96M
Cash from Investing+-303M-576.08M-241.8M-179K-606M-94.61M-8M-301.81M-137.44M-441.61M
Capital Expenditures-309M-576.08M-293.35M-17.32M-744M-188.24M-61.23M-333.37M-298.38M-650.02M
CapEx % of Revenue0.04%1.2%0.55%0.03%1.25%0.29%0.11%0.39%0.34%0.81%
Acquisitions----------
Investments----------
Other Investing6M5M-3M187M272M84.63M44.22M000
Cash from Financing+-172M310.24M76.13M-51.61M3M-136.8M-89.68M195.53M-190.58M105.54M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-213M-40.36M-39.87M-44.44M-49.31M-46.71M-36.31M-43.71M-61.86M-71.82M
Share Repurchases----------
Other Financing78.79M-6.42M-3.18M-4.3M114.34M1.04M-1.27M-9.23M-3.95M-7.19M
Net Change in Cash----------
Free Cash Flow+208M-412.14M-125.7M52.33M-300M17.18M-8.12M-44.84M96.89M-342.34M
FCF Margin %0.03%-0.86%-0.24%0.1%-0.5%0.03%-0.01%-0.05%0.11%-0.43%
FCF Growth %70.33%-2.98%0.7%1.42%-6.73%1.06%-1.47%-4.52%3.16%-4.53%
FCF per Share3.46-7.56-7.423.00-5.960.34-0.41-1.593.28-11.60
FCF Conversion (FCF/Net Income)2.09x2.94x22.02x-0.70x29.35x8.56x-0.35x1.41x1.32x1.75x
Interest Paid000000000108.65M
Taxes Paid0000000000

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)19.05%3.94%0.52%-6.58%1.02%1.68%-11.33%14.51%18.91%10.31%
Return on Invested Capital (ROIC)16.07%2.46%1.9%0.96%2.97%2.59%-3.33%6.98%10.2%6.89%
Gross Margin16.62%23.96%19.39%12.31%23.6%24.99%0.27%33.32%41.59%34.23%
Net Margin3.01%11.58%1.44%-18.72%2.53%3.73%-27.72%23.74%33.74%21.92%
Debt / Equity0.99x1.24x1.16x1.06x1.06x1.13x1.13x1.10x0.97x1.00x
Interest Coverage18.39x2.28x1.15x0.50x1.53x1.80x-2.87x4.28x3.68x2.46x
FCF Conversion2.09x2.94x22.02x-0.70x29.35x8.56x-0.35x1.41x1.32x1.75x
Revenue Growth-2.51%-94.13%9.84%0.13%12.75%7.81%-15.22%57.55%3.39%-9.61%

Revenue by Segment

2012201320142015201620172018201920202021
Clean Air Division------2.5B1.7B6.72B8.13B
Clean Air Division Growth--------31.92%294.89%21.04%
Ride Performance Division------1.95B543M2.21B2.91B
Ride Performance Division Growth--------72.14%306.45%31.76%
Powertrain------1.11B799M794M755M
Powertrain Growth--------28.15%-0.63%-4.91%
Motorparts-------217M178M223M
Motorparts Growth---------17.97%25.28%
Aftermarket----------
Aftermarket Growth----------
Emission Control Systems And Products2.95B3.28B3.56B3.49B3.74B4.03B----
Emission Control Systems And Products Growth-11.33%8.44%-1.97%7.08%7.84%----
Ride Control Systems And Products2.44B2.52B2.61B2.49B2.53B2.76B----
Ride Control Systems And Products Growth-3.41%3.53%-4.71%1.77%8.97%----

Revenue by Geography

2012201320142015201620172018201920202021
UNITED STATES-3.14B-3.36B3.51B3.63B4.49B6.2B5.15B6.16B
UNITED STATES Growth----4.46%3.42%23.57%38.21%-16.96%19.57%
CHINA-875M-1.1B1.19B1.28B1.55B2.38B2.82B3.22B
CHINA Growth----7.72%8.18%21.04%53.06%18.51%14.27%
Other Foreign Countries2.52B2.62B2.2B2.12B2.36B2.59B2.41B3.71B3.12B3.03B
Other Foreign Countries Growth-3.81%-15.86%-3.68%11.41%9.65%-6.83%53.73%-15.90%-2.92%
GERMANY-941M-807M764M798M1.21B2.23B1.79B2.2B
GERMANY Growth-----5.33%4.45%51.88%83.75%-19.49%22.81%
MEXICO---431M387M-543M959M900M1.01B
MEXICO Growth-----10.21%--76.61%-6.15%12.67%
POLAND-----488M731M925M822M988M
POLAND Growth------49.80%26.54%-11.14%20.19%
INDIA------316M475M414M617M
INDIA Growth-------50.32%-12.84%49.03%
BELGIUM---------501M
BELGIUM Growth----------
TURKEY------7M5M--
TURKEY Growth--------28.57%--
CANADA-387M-387M387M-----
CANADA Growth----0.00%-----
U S2.98B---------
U S Growth----------
D E817M---------
D E Growth----------
C N661M---------
C N Growth----------
C A389M---------
C A Growth----------

Frequently Asked Questions

Valuation & Price

Tsakos Energy Navigation Limited (TEN) has a price-to-earnings (P/E) ratio of 5.1x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Tsakos Energy Navigation Limited (TEN) reported $799.5M in revenue for fiscal year 2024. This represents a 89% decrease from $7.21B in 2011.

Tsakos Energy Navigation Limited (TEN) saw revenue decline by 9.6% over the past year.

Yes, Tsakos Energy Navigation Limited (TEN) is profitable, generating $159.9M in net income for fiscal year 2024 (21.9% net margin).

Dividend & Returns

Yes, Tsakos Energy Navigation Limited (TEN) pays a dividend with a yield of 9.51%. This makes it attractive for income-focused investors.

Tsakos Energy Navigation Limited (TEN) has a return on equity (ROE) of 10.3%. This is reasonable for most industries.

Tsakos Energy Navigation Limited (TEN) had negative free cash flow of $417.3M in fiscal year 2024, likely due to heavy capital investments.

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