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Teekay Tankers Ltd. (TNK) 10-Year Financial Performance & Capital Metrics

TNK • • Industrial / General
EnergyMidstream Oil & GasMarine TransportationCrude Oil Tanker Operators
AboutTeekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; and offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products, as well as liquid gases and various other products. It also provides tanker commercial and technical management services. As of December 31, 2021, the company owned and leased 48 double-hull oil tankers, time-chartered in two Aframax tankers, and one LR2 tanker. Teekay Tankers Ltd. was incorporated in 2007 and is headquartered in Hamilton, Canada.Show more
  • Revenue $1.23B -16.6%
  • EBITDA $474M -26.5%
  • Net Income $404M -22.4%
  • EPS (Diluted) 11.61 -22.8%
  • Gross Margin 32.07% -18.7%
  • EBITDA Margin 38.54% -11.9%
  • Operating Margin 30.92% -16.7%
  • Net Margin 32.84% -6.9%
  • ROE 24.41% -38.5%
  • ROIC 21.2% -26.4%
  • Debt/Equity 0.04 -75.5%
  • Interest Coverage 50.88 +157.9%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Excellent 3Y average ROE of 29.6%
  • ✓Strong 5Y profit CAGR of 57.7%
  • ✓FCF machine: 32.3% free cash flow margin
  • ✓Healthy dividend yield of 5.0%
  • ✓Healthy 5Y average net margin of 10.7%

✗Weaknesses

No significant weaknesses identified

* 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

10Y18.43%
5Y5.43%
3Y31.36%
TTM-16.64%

Profit (Net Income) CAGR

10Y21.59%
5Y57.72%
3Y-
TTM-24.78%

EPS CAGR

10Y8.2%
5Y79.1%
3Y-
TTM-27.54%

ROCE

10Y Avg9%
5Y Avg13.17%
3Y Avg23.49%
Latest21.03%

Peer Comparison

Crude Oil Tanker Operators
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Size & Scale
Valuation
Per Share
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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+514.19M526.9M431.18M755.76M943.92M886.43M542.37M1.18B1.47B1.23B
Revenue Growth %1.27%0.02%-0.18%0.75%0.25%-0.06%-0.39%1.17%0.25%-0.17%
Cost of Goods Sold+305.64M401.63M383.9M707.76M778.09M635.01M600.38M871.99M892.03M835.04M
COGS % of Revenue0.59%0.76%0.89%0.94%0.82%0.72%1.11%0.74%0.61%0.68%
Gross Profit+208.56M125.26M47.28M48M165.83M251.42M-58.01M305.97M581.67M394.3M
Gross Margin %0.41%0.24%0.11%0.06%0.18%0.28%-0.11%0.26%0.39%0.32%
Gross Profit Growth %3.08%-0.4%-0.62%0.02%2.45%0.52%-1.23%6.27%0.9%-0.32%
Operating Expenses+17.35M18.21M32.88M39.77M41.95M109.85M136.08M42.15M34.9M14.16M
OpEx % of Revenue0.03%0.03%0.08%0.05%0.04%0.12%0.25%0.04%0.02%0.01%
Selling, General & Admin17.35M18.21M32.88M39.77M36.4M39.01M43.72M41.11M43.67M46.6M
SG&A % of Revenue0.03%0.03%0.08%0.05%0.04%0.04%0.08%0.03%0.03%0.04%
Research & Development0000000000
R&D % of Revenue----------
Other Operating Expenses00005.54M70.84M92.37M1.03M-8.76M-32.45M
Operating Income+187.2M86.46M1.42M7.2M123.88M141.57M-194.09M263.82M546.76M380.14M
Operating Margin %0.36%0.16%0%0.01%0.13%0.16%-0.36%0.22%0.37%0.31%
Operating Income Growth %2.21%-0.54%-0.98%4.09%16.2%0.14%-2.37%2.36%1.07%-0.3%
EBITDA+260.96M190.6M101.9M125.72M247.88M258.79M-88.01M362.86M644.32M473.73M
EBITDA Margin %0.51%0.36%0.24%0.17%0.26%0.29%-0.16%0.31%0.44%0.39%
EBITDA Growth %1.41%-0.27%-0.47%0.23%0.97%0.04%-1.34%5.12%0.78%-0.26%
D&A (Non-Cash Add-back)73.76M104.15M100.48M118.51M124M117.21M106.08M99.03M97.55M93.58M
EBIT204.42M97.61M-1.36M15.52M126.83M212.42M-209.27M273.42M560.2M411.54M
Net Interest Income+-17.27M-29.67M-30.39M-57.77M-64.49M-50.33M-34.91M-34.4M-16.76M16.6M
Interest Income107K117K907K879K871K1.2M122K1.34M10.95M24.08M
Interest Expense17.39M29.78M31.29M58.65M65.36M51.52M35.03M35.74M27.71M7.47M
Other Income/Expense-168K-18.63M-54.11M-50.34M-62.42M-46.97M-50.21M-26.16M-14.28M23.93M
Pretax Income+179.63M62.85M-58.02M-52.55M61.47M94.6M-244.3M237.66M532.48M404.07M
Pretax Margin %0.35%0.12%-0.13%-0.07%0.07%0.11%-0.45%0.2%0.36%0.33%
Income Tax+7.57M7.51M5.33M59.75M20.1M7.28M-1.93M2.24M12.59M405K
Effective Tax Rate %1%1%1%1%0.67%0.92%0.99%0.99%0.98%1%
Net Income+179.63M62.85M-58.02M-52.55M41.36M87.32M-242.37M235.43M519.89M403.67M
Net Margin %0.35%0.12%-0.13%-0.07%0.04%0.1%-0.45%0.2%0.35%0.33%
Net Income Growth %2.14%-0.65%-1.92%0.09%1.79%1.11%-3.78%1.97%1.21%-0.22%
Net Income (Continuing)165.22M60.14M-58.02M-52.55M41.36M87.32M-242.37M235.43M519.89M403.67M
Discontinued Operations0000000000
Minority Interest012.12M00000000
EPS (Diluted)+10.003.20-2.48-1.570.632.57-7.166.6815.0411.61
EPS Growth %0.89%-0.68%-1.77%0.37%1.4%3.08%-3.79%1.93%1.25%-0.23%
EPS (Basic)10.083.20-2.48-1.570.632.59-7.176.7415.2211.70
Diluted Shares Outstanding18.06M21.29M23.4M33.56M33.73M33.92M33.86M34.29M34.57M34.71M
Basic Shares Outstanding17.99M21.26M23.4M33.47M33.62M33.72M33.8M34M34.16M34.41M
Dividend Payout Ratio0.08%0.75%------0.11%0.25%

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+279.81M215.48M176.69M225.59M429.81M245.41M245.4M459.51M666.98M747.94M
Cash & Short-Term Investments96.42M68.11M71.44M54.92M88.82M97.23M50.57M180.51M391.46M534.33M
Cash Only96.42M68.11M71.44M54.92M88.82M97.23M50.57M180.51M391.46M511.89M
Short-Term Investments00000000022.44M
Accounts Receivable158.21M58.39M83.94M131.52M203.22M68.08M89.81M202.12M194.58M145.28M
Days Sales Outstanding112.340.4571.0663.5278.5828.0360.4462.6348.1943.13
Inventory00-1.02M39.15M49.79M34.61M49.03M60.83M53.22M45.99M
Days Inventory Outstanding---20.1923.3619.8929.8125.4621.7820.1
Other Current Assets870K84.14M2.62M5.06M77.69M35.75M45.76M5.8M12.6M9.55M
Total Non-Current Assets+1.89B1.72B2.02B1.94B1.81B1.59B1.37B1.32B1.27B1.23B
Property, Plant & Equipment1.77B1.61B1.97B1.88B1.77B1.56B1.35B1.3B1.23B1.18B
Fixed Asset Turnover0.29x0.33x0.22x0.40x0.53x0.57x0.40x0.91x1.19x1.04x
Goodwill08.06M8.06M8.06M2.43M2.43M2.43M2.43M2.43M2.43M
Intangible Assets29.62M17.66M14.61M11.63M2.54M1.99M1.49M1.05M658K307K
Long-Term Investments86.81M81.27M25.46M25.77M28.11M28.56M12.95M16.2M15.73M16M
Other Non-Current Assets146K41K2.8M3.51M5.36M4.03M5.22M8.21M21.35M18.79M
Total Assets+2.17B1.93B2.2B2.16B2.24B1.84B1.62B1.78B1.94B1.97B
Asset Turnover0.24x0.27x0.20x0.35x0.42x0.48x0.34x0.66x0.76x0.62x
Asset Growth %0.86%-0.11%0.14%-0.02%0.04%-0.18%-0.12%0.1%0.09%0.02%
Total Current Liabilities+279.38M236.92M236.71M197.76M288.29M197.12M157.09M170.17M168.03M132.04M
Accounts Payable16.72M14.41M7.86M11.15M70.98M31.06M34.83M42.35M33.89M25.55M
Days Payables Outstanding19.9613.097.475.7533.317.8521.1817.7313.8711.17
Short-Term Debt174.05M171.02M166.78M106.24M93.57M20.86M40.62M000
Deferred Revenue (Current)1000K1000K557K1000K1000K1000K1000K001000K
Other Current Liabilities6.33M58.61M060K20.21M1.74M1.69M38.14M5.93M48.9M
Current Ratio1.00x0.91x0.75x1.14x1.49x1.24x1.56x2.70x3.97x5.66x
Quick Ratio1.00x0.91x0.75x0.94x1.32x1.07x1.25x2.34x3.65x5.32x
Cash Conversion Cycle---77.9668.6430.0769.0770.3656.152.07
Total Non-Current Liabilities+1.01B774.88M954.03M1.02B959.85M564.22M623.25M543.47M223.48M85.38M
Long-Term Debt990.56M762M785.56M629.17M516.11M232.1M304.79M000
Capital Lease Obligations00141.68M354.39M392.7M281.88M272.32M499.46M168.28M37.41M
Deferred Tax Liabilities0000000047.81M130K
Other Non-Current Liabilities11.8M13.68M26.8M32.83M51.04M50.24M46.14M44.02M7.39M47.96M
Total Liabilities1.29B1.01B1.19B1.21B1.25B761.34M780.34M713.65M391.51M217.42M
Total Debt+1.16B933.02M1.1B1.11B1.04B617M654.03M576.2M224.68M62.29M
Net Debt1.07B864.91M1.03B1.06B955.2M519.77M603.46M395.69M-166.79M-449.6M
Debt / Equity1.33x1.00x1.09x1.17x1.05x0.57x0.78x0.54x0.14x0.04x
Debt / EBITDA4.46x4.90x10.81x8.83x4.21x2.38x-1.59x0.35x0.13x
Net Debt / EBITDA4.09x4.54x10.11x8.40x3.85x2.01x-1.09x-0.26x-0.95x
Interest Coverage10.77x2.90x0.05x0.12x1.90x2.75x-5.54x7.38x19.73x50.88x
Total Equity+877.46M932.74M1.01B946.93M989.92M1.08B838.41M1.07B1.55B1.76B
Equity Growth %0.93%0.06%0.08%-0.06%0.05%0.09%-0.22%0.28%0.45%0.13%
Book Value per Share48.5843.8143.0128.2129.3531.8124.7631.2144.8450.61
Total Shareholders' Equity877.46M920.62M1.01B946.93M989.92M1.08B838.41M1.07B1.55B1.76B
Common Stock1.09B1.1B1.29B1.3B1.3B1.3B1.3B1.3B1.31B1.31B
Retained Earnings-217.41M-182.68M-288.4M-349M-307.63M-220.32M-462.69M-233.6M220.02M447.06M
Treasury Stock0000000000
Accumulated OCI-391M24.23M-537.4M-605.7M000000
Minority Interest012.12M00000000

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+166.79M209.98M79.64M-7.26M117.66M347.94M-107.31M193.26M626.07M471.91M
Operating CF Margin %0.32%0.4%0.18%-0.01%0.12%0.39%-0.2%0.16%0.42%0.38%
Operating CF Growth %11.26%0.26%-0.62%-1.09%17.2%1.96%-1.31%2.8%2.24%-0.25%
Net Income179.63M62.85M-58.02M-52.55M41.36M87.32M-242.37M229.09M513.67M403.67M
Depreciation & Amortization73.76M104.15M100.48M118.51M124M117.21M106.08M99.03M97.55M93.58M
Stock-Based Compensation1.8M1.53M1M1.1M01.9M040.8M2.9M0
Deferred Taxes000018.49M7.11M-3.11M-129K7.81M-5.72M
Other Non-Cash Items-60.73M-1.52M31.44M-18.28M-35.76M44.48M80.07M-63.3M-18.62M-62.76M
Working Capital Changes-25.88M44.5M5.74M-54.95M-30.43M89.92M-47.98M-112.22M22.75M43.15M
Change in Receivables-40.99M36.01M30.55M-57.02M-75.83M140.29M-21.73M-114.04M33.03M50.06M
Change in Inventory-11.22M28.03M-6.31M-7.21M-28.63M13.63M-17.62M-11.8M6.15M6.13M
Change in Payables32.88M-21.27M-14M9.78M83.24M-50.04M-13.93M21.07M-16.27M-9.85M
Cash from Investing+-881.97M36.82M78.78M-4.49M8.38M74.52M38.14M51.22M17.26M-5.11M
Capital Expenditures-848.23M-9.23M-4.73M-5.83M-11.63M-16.02M-21.45M-15.43M-10.2M-75.34M
CapEx % of Revenue1.65%0.02%0.01%0.01%0.01%0.02%0.04%0.01%0.01%0.06%
Acquisitions----------
Investments----------
Other Investing11.08M31.05M52.68M589K20.01M4.65M59.59M-3M3.9M0
Cash from Financing+647.68M-275.11M-181.14M-3.45M-89.76M-416.1M21.95M-113.05M-464.75M-343.4M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-15.14M-46.85M-20.68M-8.05M0000-59.52M-102.82M
Share Repurchases----------
Other Financing-31.89M-15.74M-2.91M-92K-126K-40.56M-225K-1.01M-2.39M-101.31M
Net Change in Cash----------
Free Cash Flow+-681.44M200.75M74.91M-13.09M106.03M331.92M-128.76M177.84M615.87M396.57M
FCF Margin %-1.33%0.38%0.17%-0.02%0.11%0.37%-0.24%0.15%0.42%0.32%
FCF Growth %-87.92%1.29%-0.63%-1.17%9.1%2.13%-1.39%2.38%2.46%-0.36%
FCF per Share-37.739.433.20-0.393.149.78-3.805.1917.8211.43
FCF Conversion (FCF/Net Income)0.93x3.34x-1.37x0.14x2.84x3.98x0.44x0.82x1.20x1.17x
Interest Paid0000000000
Taxes Paid0000000000

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)26.95%6.94%-5.98%-5.38%4.27%8.44%-25.28%24.67%39.68%24.41%
Return on Invested Capital (ROIC)9.7%3.46%0.06%0.27%4.71%5.99%-9.58%13.61%28.79%21.2%
Gross Margin40.56%23.77%10.97%6.35%17.57%28.36%-10.7%25.97%39.47%32.07%
Net Margin34.94%11.93%-13.46%-6.95%4.38%9.85%-44.69%19.99%35.28%32.84%
Debt / Equity1.33x1.00x1.09x1.17x1.05x0.57x0.78x0.54x0.14x0.04x
Interest Coverage10.77x2.90x0.05x0.12x1.90x2.75x-5.54x7.38x19.73x50.88x
FCF Conversion0.93x3.34x-1.37x0.14x2.84x3.98x0.44x0.82x1.20x1.17x
Revenue Growth127.04%2.47%-18.17%75.28%24.9%-6.09%-38.81%117.19%25.11%-16.58%

Revenue by Segment

2015201620172018201920202021202220232024
Voyage charters----881.6M741.8M485.9M1.04B1.32B1.07B
Voyage charters Growth------15.86%-34.50%113.89%27.16%-19.26%
Voyage Charters - Suezmax---359.44M424.58M340.54M259.07M557.97M669.33M547.26M
Voyage Charters - Suezmax Growth----18.12%-19.79%-23.92%115.37%19.96%-18.24%
Other revenue---44.59M44.82M17.03M10.31M9.11M11.82M136.46M
Other revenue Growth----0.52%-62.00%-39.46%-11.65%29.69%1054.86%
Time-charter---59.79M17.5M127.6M46.16M14.74M31.15M25.91M
Time-charter Growth-----70.74%629.34%-63.82%-68.07%111.35%-16.80%
Time Charters - Suezmax---16.9M15.66M107.54M20.39M49K14.28M12.77M
Time Charters - Suezmax Growth-----7.34%586.82%-81.04%-99.76%29042.86%-10.60%
Ship-to-ship support services, Other revenue---28.63M24.02M9.62M5.47M4.57M7.95M11.19M
Ship-to-ship support services, Other revenue Growth-----16.12%-59.94%-43.18%-16.46%73.99%40.85%
Voyage Charters - Full Service Lightering---104.87M81.84M93.72M53.93M123.5M81.55M-
Voyage Charters - Full Service Lightering Growth-----21.96%14.52%-42.46%129.00%-33.97%-
Vessel management, Other revenue----8.46M7.02M4.84M4.54M3.87M-
Vessel management, Other revenue Growth------17.04%-30.97%-6.21%-14.83%-
Voyage Charters - Aframax---119.83M255.7M198.21M92.92M---
Voyage Charters - Aframax Growth----113.39%-22.49%-53.12%---
Voyage Charters - LR2---67.25M119.49M109.34M79.97M---
Voyage Charters - LR2 Growth----77.69%-8.49%-26.86%---
Time Charters - Aframax---35.53M1.84M13.26M22.34M---
Time Charters - Aframax Growth-----94.83%621.94%68.46%---
Time Charters - LR2---7.36M-6.79M3.43M---
Time Charters - LR2 Growth-------49.54%---
LNG terminal management, consultancy and other, Other revenue---7.13M12.34M392K----
LNG terminal management, consultancy and other, Other revenue Growth----73.09%-96.82%----
Commercial management, Other revenue---8.83M------
Commercial management, Other revenue Growth----------
Net pool----------
Net pool Growth----------
Net Pool - Suezmax----------
Net Pool - Suezmax Growth----------
Net Pool - MR2----------
Net Pool - MR2 Growth----------
Net Pool - LR2----------
Net Pool - LR2 Growth----------
Net Pool - Aframax----------
Net Pool - Aframax Growth----------
Conventional Tankers496.45M488.96M391.27M-------
Conventional Tankers Growth--1.51%-19.98%-------
Ship To Ship Transfer18.59M---------
Ship To Ship Transfer Growth----------

Frequently Asked Questions

Valuation & Price

Teekay Tankers Ltd. (TNK) has a price-to-earnings (P/E) ratio of 5.2x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Teekay Tankers Ltd. (TNK) reported $1.04B in revenue for fiscal year 2024. This represents a 386% increase from $215.1M in 2011.

Teekay Tankers Ltd. (TNK) saw revenue decline by 16.6% over the past year.

Yes, Teekay Tankers Ltd. (TNK) is profitable, generating $323.8M in net income for fiscal year 2024 (32.8% net margin).

Dividend & Returns

Yes, Teekay Tankers Ltd. (TNK) pays a dividend with a yield of 4.95%. This makes it attractive for income-focused investors.

Teekay Tankers Ltd. (TNK) has a return on equity (ROE) of 24.4%. This is excellent, indicating efficient use of shareholder capital.

Teekay Tankers Ltd. (TNK) generated $100.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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