TORM plc (TRMD) 10-Year Financial Performance & Capital Metrics

TRMD • • Industrial / General

EnergyMidstream Oil & GasMarine TransportationProduct Tanker Operators

AboutTORM plc, a product tanker company, engages in the transportation of refined oil products and crude oil worldwide. The company transports gasoline, jet fuel, and naphtha. As of March 23, 2022, it operated a fleet of approximately 85 vessels. The company was founded in 1889 and is headquartered in London, the United Kingdom.Show more

Revenue $1.56B +2.6%
EBITDA $851M +0.3%
Net Income $613M -5.5%
EPS (Diluted) 6.36 -15.0%
Gross Margin 60.85% -1.7%
EBITDA Margin 54.57% -2.2%
Operating Margin 42.25% -8.0%
Net Margin 39.28% -7.9%
ROE 32.75% -19.9%
ROIC 18% -20.8%
Debt/Equity 0.59 -7.1%
Interest Coverage 9.43 -24.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 39.2%
✓Strong 5Y profit CAGR of 29.8%
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 17.6%
✓Healthy 5Y average net margin of 25.2%
✓Trading near 52-week high

✗Weaknesses

✗Shares diluted 11.1% in last year

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y9.59%

5Y17.62%

3Y36.02%

TTM-21.25%

Profit (Net Income) CAGR

10Y-

5Y29.83%

3Y-

TTM-61.47%

EPS CAGR

10Y-

5Y23.1%

3Y-

TTM-64.44%

ROCE

10Y Avg10.36%

5Y Avg17.11%

3Y Avg25.93%

Latest22.76%

Peer Comparison

Product Tanker Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
STNGScorpio Tankers Inc.	3.02B	58.37	4.44	-7.25%	32.01%	9.26%	24.22%	0.30
TRMDTORM plc	2.3B	22.73	3.57	2.55%	21.42%	12.91%	10.13%	0.59

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	540.4M	680.14M	656.99M	635.37M	692.61M	747.36M	619.53M	1.44B	1.52B	1.56B
Revenue Growth %	-0.13%	0.26%	-0.03%	-0.03%	0.09%	0.08%	-0.17%	1.33%	0.05%	0.03%
Cost of Goods Sold+	249M	365.57M	382.86M	400M	377.86M	349.85M	371.79M	598.5M	579.6M	610.5M
COGS % of Revenue	0.46%	0.54%	0.58%	0.63%	0.55%	0.47%	0.6%	0.41%	0.38%	0.39%
Gross Profit+	291.41M	314.57M	274.13M	235.36M	314.75M	397.51M	247.74M	844.9M	940.8M	948.7M
Gross Margin %	0.54%	0.46%	0.42%	0.37%	0.45%	0.53%	0.4%	0.59%	0.62%	0.61%
Gross Profit Growth %	0.07%	0.08%	-0.13%	-0.14%	0.34%	0.26%	-0.38%	2.41%	0.11%	0.01%
Operating Expenses+	148.65M	236.96M	233.8M	230.23M	108.86M	258.6M	246.35M	243.4M	242.2M	289.9M
OpEx % of Revenue	0.28%	0.35%	0.36%	0.36%	0.16%	0.35%	0.4%	0.17%	0.16%	0.19%
Selling, General & Admin	19.49M	41.41M	45.01M	47.83M	47.72M	50.77M	51.54M	55M	82.9M	95.6M
SG&A % of Revenue	0.04%	0.06%	0.07%	0.08%	0.07%	0.07%	0.08%	0.04%	0.05%	0.06%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	129.17M	195.55M	188.79M	182.41M	61.13M	207.83M	194.81M	188.4M	159.3M	194.3M
Operating Income+	142.96M	-107.21M	39.53M	2.82M	205.89M	138.91M	1.4M	601.5M	698.6M	658.8M
Operating Margin %	0.26%	-0.16%	0.06%	0%	0.3%	0.19%	0%	0.42%	0.46%	0.42%
Operating Income Growth %	1.68%	-1.75%	1.37%	-0.93%	71.96%	-0.33%	-0.99%	429.87%	0.16%	-0.06%
EBITDA+	210.28M	9.46M	161.26M	113.62M	316.01M	260.83M	132.25M	740.5M	847.9M	850.8M
EBITDA Margin %	0.39%	0.01%	0.25%	0.18%	0.46%	0.35%	0.21%	0.51%	0.56%	0.55%
EBITDA Growth %	2.83%	-0.96%	16.05%	-0.3%	1.78%	-0.17%	-0.49%	4.6%	0.15%	0%
D&A (Non-Cash Add-back)	67.33M	116.67M	121.73M	110.79M	110.12M	121.92M	130.85M	139M	149.3M	192M
EBIT	143.95M	-112.13M	48.59M	2.48M	206.11M	136.63M	1.64M	605.4M	708.1M	679.8M
Net Interest Income+	-15.93M	-33.03M	-35.8M	-38.08M	-50.39M	-77.26M	-42.14M	-44.76M	-41.9M	-46.19M
Interest Income	300K	190.95K	4.25M	2.62M	2.5M	576.16K	200K	4M	14.2M	23.67M
Interest Expense	15M	33.22M	40.6M	40.69M	52.89M	77.84M	42.4M	48.7M	56.1M	69.86M
Other Income/Expense	-15.93M	-34.52M	-36.34M	-36.04M	-39.09M	-49.38M	-42.14M	-44.8M	-46.6M	-49.3M
Pretax Income+	127.02M	-141.73M	3.18M	-33.22M	166.81M	89.53M	-40.74M	556.7M	652M	609.5M
Pretax Margin %	0.24%	-0.21%	0%	-0.05%	0.24%	0.12%	-0.07%	0.39%	0.43%	0.39%
Income Tax+	1.04M	760K	777K	1.56M	784K	1.42M	1.34M	-5.9M	4M	-2M
Effective Tax Rate %	0.99%	1.01%	0.76%	1.05%	1%	0.98%	1.03%	1.01%	0.99%	1%
Net Income+	125.98M	-142.49M	2.41M	-34.78M	166.02M	88.11M	-42.09M	562.8M	648.3M	612.5M
Net Margin %	0.23%	-0.21%	0%	-0.05%	0.24%	0.12%	-0.07%	0.39%	0.43%	0.39%
Net Income Growth %	1.44%	-2.13%	1.02%	-15.45%	5.77%	-0.47%	-1.48%	14.37%	0.15%	-0.06%
Net Income (Continuing)	125.98M	-142.49M	2.41M	-34.78M	166.02M	88.11M	-42.09M	562.6M	648M	611.5M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	2.3M	1.9M	800K
EPS (Diluted)+	2.40	-2.27	0.04	-0.48	2.25	1.27	-0.54	6.90	7.48	6.36
EPS Growth %	1.47%	-1.95%	1.02%	-13%	5.69%	-0.44%	-1.43%	13.78%	0.08%	-0.15%
EPS (Basic)	2.40	-2.27	0.04	-0.48	2.25	1.27	-0.54	7.03	7.75	6.54
Diluted Shares Outstanding	51.7M	62.9M	62M	73.1M	74M	74.3M	78.1M	82.8M	86.7M	96.3M
Basic Shares Outstanding	51.7M	62.77M	62M	72.46M	74M	74.3M	78.1M	81.3M	83.6M	93.6M
Dividend Payout Ratio	-	-	0.52%	-	-	0.8%	-	0.3%	0.92%	0.86%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	288.62M	181.28M	261.45M	269.3M	215.91M	243.66M	363.32M	739.7M	691.2M	615.3M
Cash & Short-Term Investments	168.26M	75.97M	134.21M	127.36M	56.9M	89.5M	144.8M	320.5M	265.5M	271.9M
Cash Only	168.26M	75.97M	134.21M	127.36M	56.9M	89.5M	144.8M	320.5M	265.5M	271.9M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	88.88M	70.67M	83.07M	86M	94.1M	64.1M	88.3M	263.3M	219.7M	209.1M
Days Sales Outstanding	60.03	37.92	46.15	49.4	49.59	31.31	52.02	66.58	52.74	48.95
Inventory	25.56M	31.62M	33.2M	39.4M	34.84M	22.46M	48.81M	72M	61.7M	68.4M
Days Inventory Outstanding	37.46	31.57	31.66	35.96	33.65	23.43	47.92	43.91	38.86	40.89
Other Current Assets	0	0	6.55M	6.2M	26.61M	65.42M	75.78M	73.5M	129.1M	53.7M
Total Non-Current Assets+	1.58B	1.39B	1.39B	1.45B	1.79B	1.75B	1.97B	1.87B	2.18B	2.85B
Property, Plant & Equipment	1.57B	1.56B	1.38B	1.45B	1.78B	1.75B	1.96B	1.87B	2.17B	2.84B
Fixed Asset Turnover	0.34x	0.44x	0.47x	0.44x	0.39x	0.43x	0.32x	0.77x	0.70x	0.55x
Goodwill	11.4M	0	0	0	0	0	0	1.8M	1.8M	1.7M
Intangible Assets	0	0	0	0	0	0	0	1.9M	1.8M	2M
Long-Term Investments	339K	326K	329K	76K	1.17M	1.59M	1.47M	300K	100K	300K
Other Non-Current Assets	-15K	-173.48M	0	-78K	4.6M	4.63M	4.66M	4.6M	4.5M	4.5M
Total Assets+	1.87B	1.57B	1.65B	1.71B	2B	2B	2.33B	2.61B	2.87B	3.47B
Asset Turnover	0.29x	0.43x	0.40x	0.37x	0.35x	0.37x	0.27x	0.55x	0.53x	0.45x
Asset Growth %	0.35%	-0.16%	0.05%	0.04%	0.17%	-0%	0.17%	0.12%	0.1%	0.21%
Total Current Liabilities+	115.89M	151.8M	156.13M	167.12M	194.94M	196.71M	307.19M	206.4M	265.4M	285.4M
Accounts Payable	22.28M	28.5M	26.15M	35.12M	47.12M	14.35M	35.33M	48.5M	43.1M	50M
Days Payables Outstanding	32.67	28.45	24.93	32.05	45.52	14.97	34.69	29.58	27.14	29.89
Short-Term Debt	48.73M	75.65M	91.72M	94.42M	99.03M	102.86M	208.95M	117.1M	172.7M	165.3M
Deferred Revenue (Current)	440K	195K	143K	59K	4K	0	0	900K	1000K	1000K
Other Current Liabilities	6.16M	6.37M	17.52M	3.45M	14.82M	43.88M	32.78M	37.9M	45.7M	61.9M
Current Ratio	2.49x	1.19x	1.67x	1.61x	1.11x	1.24x	1.18x	3.58x	2.60x	2.16x
Quick Ratio	2.27x	0.99x	1.46x	1.38x	0.93x	1.12x	1.02x	3.23x	2.37x	1.92x
Cash Conversion Cycle	64.83	41.04	52.87	53.31	37.73	39.77	65.26	80.91	64.46	59.95
Total Non-Current Liabilities+	775.57M	638.88M	699.4M	700.07M	801.25M	784.47M	971.63M	904.1M	938.7M	1.11B
Long-Term Debt	717.53M	593.91M	629.2M	633.03M	756.35M	739.54M	926.45M	849.8M	886.9M	1.06B
Capital Lease Obligations	12.94M	0	25.29M	22.14M	0	0	0	0	0	0
Deferred Tax Liabilities	45.1M	44.97M	44.91M	44.91M	44.9M	0	0	6.1M	3.6M	300K
Other Non-Current Liabilities	0	0	0	0	0	44.92M	45.18M	48.2M	48.2M	48.1M
Total Liabilities	891.47M	790.68M	855.52M	867.19M	996.19M	981.17M	1.28B	1.11B	1.2B	1.39B
Total Debt+	779.82M	683.19M	749.11M	749.59M	855.38M	842.4M	1.14B	966.9M	1.06B	1.23B
Net Debt	611.56M	607.22M	614.9M	622.23M	798.48M	752.9M	990.6M	646.4M	794.1M	954.4M
Debt / Equity	0.80x	0.88x	0.95x	0.88x	0.85x	0.83x	1.08x	0.64x	0.64x	0.59x
Debt / EBITDA	3.71x	72.24x	4.65x	6.60x	2.71x	3.23x	8.59x	1.31x	1.25x	1.44x
Net Debt / EBITDA	2.91x	64.21x	3.81x	5.48x	2.53x	2.89x	7.49x	0.87x	0.94x	1.12x
Interest Coverage	9.53x	-3.23x	0.97x	0.07x	3.89x	1.78x	0.03x	12.35x	12.45x	9.43x
Total Equity+	975.98M	780.58M	791.05M	847.21M	1.01B	1.02B	1.05B	1.5B	1.67B	2.07B
Equity Growth %	6.95%	-0.2%	0.01%	0.07%	0.19%	0.01%	0.03%	0.43%	0.11%	0.25%
Book Value per Share	18.88	12.41	12.76	11.59	13.62	13.69	13.47	18.16	19.22	21.55
Total Shareholders' Equity	975.98M	780.58M	791.05M	847.21M	1.01B	1.02B	1.05B	1.5B	1.66B	2.07B
Common Stock	141.95M	623K	623K	742K	747K	748K	812K	800K	900K	1M
Retained Earnings	771.67M	782.53M	785.73M	752.11M	919.96M	939.25M	899.47M	1.3B	1.38B	1.47B
Treasury Stock	-176K	-2.89M	-2.89M	-2.89M	-2.89M	-4.24M	-4.24M	-4.2M	-4.2M	-4.2M
Accumulated OCI	62.53M	310K	7.59M	158K	-11.42M	-20.34M	-3.42M	39.4M	25.2M	334.7M
Minority Interest	0	0	0	0	0	0	0	2.3M	1.9M	800K

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	213.96M	171.14M	109.84M	70.74M	171.09M	235.8M	47.95M	502M	821.29M	789.04M
Operating CF Margin %	0.4%	0.25%	0.17%	0.11%	0.25%	0.32%	0.08%	0.35%	0.54%	0.51%
Operating CF Growth %	6.95%	-0.2%	-0.36%	-0.36%	1.42%	0.38%	-0.8%	9.47%	0.64%	-0.04%
Net Income	142.96M	-107.21M	2.41M	-34.78M	166.02M	88.11M	-42.09M	562.8M	661.34M	584.53M
Depreciation & Amortization	67.33M	122.22M	114.45M	114.48M	110.12M	121.92M	130.85M	139M	152.32M	183.23M
Stock-Based Compensation	0	2M	1.9M	2.1M	1.9M	1.7M	2.3M	2.9M	0	0
Deferred Taxes	0	152.93M	777K	1.56M	784K	0	0	0	2.24M	0
Other Non-Cash Items	-13.2M	-7.11M	3.31M	38.08M	-119.6M	-5.34M	24.77M	-17.1M	-43.4M	-24.34M
Working Capital Changes	16.87M	8.32M	-13M	-12.67M	11.86M	29.41M	-67.89M	-185.6M	48.78M	45.62M
Change in Receivables	11M	20.8M	-13.8M	-8.9M	-2.5M	14.9M	-37.5M	-158.1M	46.13M	39.8M
Change in Inventory	15.6M	-6.1M	-1.6M	-6.2M	5.1M	13.21M	-26.9M	-21.8M	1.22M	-9.73M
Change in Payables	-11.9M	-5.4M	-4.5M	11.7M	22.8M	0	0	0	3.26M	7.54M
Cash from Investing+	-158.78M	-119.41M	-113.73M	-175.59M	-322.82M	-119.8M	-290.59M	11.3M	-350.77M	-432.22M
Capital Expenditures	-253.96M	-119.41M	-145.11M	-202.44M	-384.35M	-173.05M	-319.79M	-119.3M	-520.48M	-556.85M
CapEx % of Revenue	0.47%	0.18%	0.22%	0.32%	0.55%	0.23%	0.52%	0.08%	0.34%	0.36%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	17.64M	0	31.38M	26.85M	61.8M	53.25M	29.19M	129.5M	0	0
Cash from Financing+	75.03M	-144.02M	62.12M	95.99M	84.49M	-83.33M	297.98M	-337.6M	-499.26M	-361.02M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	-25M	-1.24M	0	0	-70.61M	0	-166.7M	-598.21M	-528.03M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-2.72M	0	594K	95.2M	-8.16M	756K	2.58M	8M	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-40.01M	51.73M	-35.27M	-131.7M	-213.26M	62.75M	-271.84M	382.7M	301.38M	233.24M
FCF Margin %	-0.07%	0.08%	-0.05%	-0.21%	-0.31%	0.08%	-0.44%	0.27%	0.2%	0.15%
FCF Growth %	-1.61%	2.29%	-1.68%	-2.73%	-0.62%	1.29%	-5.33%	2.41%	-0.21%	-0.23%
FCF per Share	-0.77	0.82	-0.57	-1.80	-2.88	0.84	-3.48	4.62	3.48	2.42
FCF Conversion (FCF/Net Income)	1.70x	-1.20x	45.64x	-2.03x	1.03x	2.68x	-1.14x	0.89x	1.27x	1.29x
Interest Paid	0	0	0	0	0	52.91M	41.05M	49.5M	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	31.03%	-16.22%	0.31%	-4.25%	17.9%	8.7%	-4.07%	44.04%	40.91%	32.75%
Return on Invested Capital (ROIC)	7.61%	-5.41%	2.12%	0.15%	9.43%	5.83%	0.05%	21.52%	22.73%	18%
Gross Margin	53.92%	46.25%	41.73%	37.04%	45.44%	53.19%	39.99%	58.54%	61.88%	60.85%
Net Margin	23.31%	-20.95%	0.37%	-5.47%	23.97%	11.79%	-6.79%	38.99%	42.64%	39.28%
Debt / Equity	0.80x	0.88x	0.95x	0.88x	0.85x	0.83x	1.08x	0.64x	0.64x	0.59x
Interest Coverage	9.53x	-3.23x	0.97x	0.07x	3.89x	1.78x	0.03x	12.35x	12.45x	9.43x
FCF Conversion	1.70x	-1.20x	45.64x	-2.03x	1.03x	2.68x	-1.14x	0.89x	1.27x	1.29x
Revenue Growth	-13.42%	25.86%	-3.4%	-3.29%	9.01%	7.9%	-17.1%	132.98%	5.33%	2.55%

Revenue by Segment

	2022	2023	2024
Others	700K	2M	1.2M
Others Growth	-	185.71%	-40.00%

Revenue by Geography

	2022	2023	2024
SWITZERLAND	-	242.5M	264.3M
SWITZERLAND Growth	-	-	8.99%
UNITED STATES	-	182.7M	243.1M
UNITED STATES Growth	-	-	33.06%
UNITED ARAB EMIRATES	-	-	160.5M
UNITED ARAB EMIRATES Growth	-	-	-
CH	220.9M	-	-
CH Growth	-	-	-
MX	178.2M	-	-
MX Growth	-	-	-

Frequently Asked Questions

Valuation & Price

TORM plc (TRMD) has a price-to-earnings (P/E) ratio of 3.6x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

TORM plc (TRMD) reported $1.29B in revenue for fiscal year 2024. This represents a 2% decrease from $1.32B in 2011.

TORM plc (TRMD) grew revenue by 2.6% over the past year. Growth has been modest.

Yes, TORM plc (TRMD) is profitable, generating $276.9M in net income for fiscal year 2024 (39.3% net margin).

Dividend & Returns

Yes, TORM plc (TRMD) pays a dividend with a yield of 24.12%. This makes it attractive for income-focused investors.

TORM plc (TRMD) has a return on equity (ROE) of 32.7%. This is excellent, indicating efficient use of shareholder capital.

TORM plc (TRMD) generated $242.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

...

TORM plc (TRMD) 10-Year Financial Performance & Capital Metrics

TRMD • • Industrial / General

EnergyMidstream Oil & GasMarine TransportationProduct Tanker Operators

Revenue $1.56B +2.6%
EBITDA $851M +0.3%
Net Income $613M -5.5%
EPS (Diluted) 6.36 -15.0%
Gross Margin 60.85% -1.7%
EBITDA Margin 54.57% -2.2%
Operating Margin 42.25% -8.0%
Net Margin 39.28% -7.9%
ROE 32.75% -19.9%
ROIC 18% -20.8%
Debt/Equity 0.59 -7.1%
Interest Coverage 9.43 -24.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 39.2%
✓Strong 5Y profit CAGR of 29.8%
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 17.6%
✓Healthy 5Y average net margin of 25.2%
✓Trading near 52-week high

✗Weaknesses

✗Shares diluted 11.1% in last year

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y9.59%

5Y17.62%

3Y36.02%

TTM-21.25%

Profit (Net Income) CAGR

10Y-

5Y29.83%

3Y-

TTM-61.47%

EPS CAGR

10Y-

5Y23.1%

3Y-

TTM-64.44%

ROCE

10Y Avg10.36%

5Y Avg17.11%

3Y Avg25.93%

Latest22.76%

Peer Comparison

Product Tanker Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
STNGScorpio Tankers Inc.	3.02B	58.37	4.44	-7.25%	32.01%	9.26%	24.22%	0.30
TRMDTORM plc	2.3B	22.73	3.57	2.55%	21.42%	12.91%	10.13%	0.59

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	540.4M	680.14M	656.99M	635.37M	692.61M	747.36M	619.53M	1.44B	1.52B	1.56B
Revenue Growth %	-0.13%	0.26%	-0.03%	-0.03%	0.09%	0.08%	-0.17%	1.33%	0.05%	0.03%
Cost of Goods Sold+	249M	365.57M	382.86M	400M	377.86M	349.85M	371.79M	598.5M	579.6M	610.5M
COGS % of Revenue	0.46%	0.54%	0.58%	0.63%	0.55%	0.47%	0.6%	0.41%	0.38%	0.39%
Gross Profit+	291.41M	314.57M	274.13M	235.36M	314.75M	397.51M	247.74M	844.9M	940.8M	948.7M
Gross Margin %	0.54%	0.46%	0.42%	0.37%	0.45%	0.53%	0.4%	0.59%	0.62%	0.61%
Gross Profit Growth %	0.07%	0.08%	-0.13%	-0.14%	0.34%	0.26%	-0.38%	2.41%	0.11%	0.01%
Operating Expenses+	148.65M	236.96M	233.8M	230.23M	108.86M	258.6M	246.35M	243.4M	242.2M	289.9M
OpEx % of Revenue	0.28%	0.35%	0.36%	0.36%	0.16%	0.35%	0.4%	0.17%	0.16%	0.19%
Selling, General & Admin	19.49M	41.41M	45.01M	47.83M	47.72M	50.77M	51.54M	55M	82.9M	95.6M
SG&A % of Revenue	0.04%	0.06%	0.07%	0.08%	0.07%	0.07%	0.08%	0.04%	0.05%	0.06%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	129.17M	195.55M	188.79M	182.41M	61.13M	207.83M	194.81M	188.4M	159.3M	194.3M
Operating Income+	142.96M	-107.21M	39.53M	2.82M	205.89M	138.91M	1.4M	601.5M	698.6M	658.8M
Operating Margin %	0.26%	-0.16%	0.06%	0%	0.3%	0.19%	0%	0.42%	0.46%	0.42%
Operating Income Growth %	1.68%	-1.75%	1.37%	-0.93%	71.96%	-0.33%	-0.99%	429.87%	0.16%	-0.06%
EBITDA+	210.28M	9.46M	161.26M	113.62M	316.01M	260.83M	132.25M	740.5M	847.9M	850.8M
EBITDA Margin %	0.39%	0.01%	0.25%	0.18%	0.46%	0.35%	0.21%	0.51%	0.56%	0.55%
EBITDA Growth %	2.83%	-0.96%	16.05%	-0.3%	1.78%	-0.17%	-0.49%	4.6%	0.15%	0%
D&A (Non-Cash Add-back)	67.33M	116.67M	121.73M	110.79M	110.12M	121.92M	130.85M	139M	149.3M	192M
EBIT	143.95M	-112.13M	48.59M	2.48M	206.11M	136.63M	1.64M	605.4M	708.1M	679.8M
Net Interest Income+	-15.93M	-33.03M	-35.8M	-38.08M	-50.39M	-77.26M	-42.14M	-44.76M	-41.9M	-46.19M
Interest Income	300K	190.95K	4.25M	2.62M	2.5M	576.16K	200K	4M	14.2M	23.67M
Interest Expense	15M	33.22M	40.6M	40.69M	52.89M	77.84M	42.4M	48.7M	56.1M	69.86M
Other Income/Expense	-15.93M	-34.52M	-36.34M	-36.04M	-39.09M	-49.38M	-42.14M	-44.8M	-46.6M	-49.3M
Pretax Income+	127.02M	-141.73M	3.18M	-33.22M	166.81M	89.53M	-40.74M	556.7M	652M	609.5M
Pretax Margin %	0.24%	-0.21%	0%	-0.05%	0.24%	0.12%	-0.07%	0.39%	0.43%	0.39%
Income Tax+	1.04M	760K	777K	1.56M	784K	1.42M	1.34M	-5.9M	4M	-2M
Effective Tax Rate %	0.99%	1.01%	0.76%	1.05%	1%	0.98%	1.03%	1.01%	0.99%	1%
Net Income+	125.98M	-142.49M	2.41M	-34.78M	166.02M	88.11M	-42.09M	562.8M	648.3M	612.5M
Net Margin %	0.23%	-0.21%	0%	-0.05%	0.24%	0.12%	-0.07%	0.39%	0.43%	0.39%
Net Income Growth %	1.44%	-2.13%	1.02%	-15.45%	5.77%	-0.47%	-1.48%	14.37%	0.15%	-0.06%
Net Income (Continuing)	125.98M	-142.49M	2.41M	-34.78M	166.02M	88.11M	-42.09M	562.6M	648M	611.5M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	2.3M	1.9M	800K
EPS (Diluted)+	2.40	-2.27	0.04	-0.48	2.25	1.27	-0.54	6.90	7.48	6.36
EPS Growth %	1.47%	-1.95%	1.02%	-13%	5.69%	-0.44%	-1.43%	13.78%	0.08%	-0.15%
EPS (Basic)	2.40	-2.27	0.04	-0.48	2.25	1.27	-0.54	7.03	7.75	6.54
Diluted Shares Outstanding	51.7M	62.9M	62M	73.1M	74M	74.3M	78.1M	82.8M	86.7M	96.3M
Basic Shares Outstanding	51.7M	62.77M	62M	72.46M	74M	74.3M	78.1M	81.3M	83.6M	93.6M
Dividend Payout Ratio	-	-	0.52%	-	-	0.8%	-	0.3%	0.92%	0.86%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	288.62M	181.28M	261.45M	269.3M	215.91M	243.66M	363.32M	739.7M	691.2M	615.3M
Cash & Short-Term Investments	168.26M	75.97M	134.21M	127.36M	56.9M	89.5M	144.8M	320.5M	265.5M	271.9M
Cash Only	168.26M	75.97M	134.21M	127.36M	56.9M	89.5M	144.8M	320.5M	265.5M	271.9M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	88.88M	70.67M	83.07M	86M	94.1M	64.1M	88.3M	263.3M	219.7M	209.1M
Days Sales Outstanding	60.03	37.92	46.15	49.4	49.59	31.31	52.02	66.58	52.74	48.95
Inventory	25.56M	31.62M	33.2M	39.4M	34.84M	22.46M	48.81M	72M	61.7M	68.4M
Days Inventory Outstanding	37.46	31.57	31.66	35.96	33.65	23.43	47.92	43.91	38.86	40.89
Other Current Assets	0	0	6.55M	6.2M	26.61M	65.42M	75.78M	73.5M	129.1M	53.7M
Total Non-Current Assets+	1.58B	1.39B	1.39B	1.45B	1.79B	1.75B	1.97B	1.87B	2.18B	2.85B
Property, Plant & Equipment	1.57B	1.56B	1.38B	1.45B	1.78B	1.75B	1.96B	1.87B	2.17B	2.84B
Fixed Asset Turnover	0.34x	0.44x	0.47x	0.44x	0.39x	0.43x	0.32x	0.77x	0.70x	0.55x
Goodwill	11.4M	0	0	0	0	0	0	1.8M	1.8M	1.7M
Intangible Assets	0	0	0	0	0	0	0	1.9M	1.8M	2M
Long-Term Investments	339K	326K	329K	76K	1.17M	1.59M	1.47M	300K	100K	300K
Other Non-Current Assets	-15K	-173.48M	0	-78K	4.6M	4.63M	4.66M	4.6M	4.5M	4.5M
Total Assets+	1.87B	1.57B	1.65B	1.71B	2B	2B	2.33B	2.61B	2.87B	3.47B
Asset Turnover	0.29x	0.43x	0.40x	0.37x	0.35x	0.37x	0.27x	0.55x	0.53x	0.45x
Asset Growth %	0.35%	-0.16%	0.05%	0.04%	0.17%	-0%	0.17%	0.12%	0.1%	0.21%
Total Current Liabilities+	115.89M	151.8M	156.13M	167.12M	194.94M	196.71M	307.19M	206.4M	265.4M	285.4M
Accounts Payable	22.28M	28.5M	26.15M	35.12M	47.12M	14.35M	35.33M	48.5M	43.1M	50M
Days Payables Outstanding	32.67	28.45	24.93	32.05	45.52	14.97	34.69	29.58	27.14	29.89
Short-Term Debt	48.73M	75.65M	91.72M	94.42M	99.03M	102.86M	208.95M	117.1M	172.7M	165.3M
Deferred Revenue (Current)	440K	195K	143K	59K	4K	0	0	900K	1000K	1000K
Other Current Liabilities	6.16M	6.37M	17.52M	3.45M	14.82M	43.88M	32.78M	37.9M	45.7M	61.9M
Current Ratio	2.49x	1.19x	1.67x	1.61x	1.11x	1.24x	1.18x	3.58x	2.60x	2.16x
Quick Ratio	2.27x	0.99x	1.46x	1.38x	0.93x	1.12x	1.02x	3.23x	2.37x	1.92x
Cash Conversion Cycle	64.83	41.04	52.87	53.31	37.73	39.77	65.26	80.91	64.46	59.95
Total Non-Current Liabilities+	775.57M	638.88M	699.4M	700.07M	801.25M	784.47M	971.63M	904.1M	938.7M	1.11B
Long-Term Debt	717.53M	593.91M	629.2M	633.03M	756.35M	739.54M	926.45M	849.8M	886.9M	1.06B
Capital Lease Obligations	12.94M	0	25.29M	22.14M	0	0	0	0	0	0
Deferred Tax Liabilities	45.1M	44.97M	44.91M	44.91M	44.9M	0	0	6.1M	3.6M	300K
Other Non-Current Liabilities	0	0	0	0	0	44.92M	45.18M	48.2M	48.2M	48.1M
Total Liabilities	891.47M	790.68M	855.52M	867.19M	996.19M	981.17M	1.28B	1.11B	1.2B	1.39B
Total Debt+	779.82M	683.19M	749.11M	749.59M	855.38M	842.4M	1.14B	966.9M	1.06B	1.23B
Net Debt	611.56M	607.22M	614.9M	622.23M	798.48M	752.9M	990.6M	646.4M	794.1M	954.4M
Debt / Equity	0.80x	0.88x	0.95x	0.88x	0.85x	0.83x	1.08x	0.64x	0.64x	0.59x
Debt / EBITDA	3.71x	72.24x	4.65x	6.60x	2.71x	3.23x	8.59x	1.31x	1.25x	1.44x
Net Debt / EBITDA	2.91x	64.21x	3.81x	5.48x	2.53x	2.89x	7.49x	0.87x	0.94x	1.12x
Interest Coverage	9.53x	-3.23x	0.97x	0.07x	3.89x	1.78x	0.03x	12.35x	12.45x	9.43x
Total Equity+	975.98M	780.58M	791.05M	847.21M	1.01B	1.02B	1.05B	1.5B	1.67B	2.07B
Equity Growth %	6.95%	-0.2%	0.01%	0.07%	0.19%	0.01%	0.03%	0.43%	0.11%	0.25%
Book Value per Share	18.88	12.41	12.76	11.59	13.62	13.69	13.47	18.16	19.22	21.55
Total Shareholders' Equity	975.98M	780.58M	791.05M	847.21M	1.01B	1.02B	1.05B	1.5B	1.66B	2.07B
Common Stock	141.95M	623K	623K	742K	747K	748K	812K	800K	900K	1M
Retained Earnings	771.67M	782.53M	785.73M	752.11M	919.96M	939.25M	899.47M	1.3B	1.38B	1.47B
Treasury Stock	-176K	-2.89M	-2.89M	-2.89M	-2.89M	-4.24M	-4.24M	-4.2M	-4.2M	-4.2M
Accumulated OCI	62.53M	310K	7.59M	158K	-11.42M	-20.34M	-3.42M	39.4M	25.2M	334.7M
Minority Interest	0	0	0	0	0	0	0	2.3M	1.9M	800K

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	213.96M	171.14M	109.84M	70.74M	171.09M	235.8M	47.95M	502M	821.29M	789.04M
Operating CF Margin %	0.4%	0.25%	0.17%	0.11%	0.25%	0.32%	0.08%	0.35%	0.54%	0.51%
Operating CF Growth %	6.95%	-0.2%	-0.36%	-0.36%	1.42%	0.38%	-0.8%	9.47%	0.64%	-0.04%
Net Income	142.96M	-107.21M	2.41M	-34.78M	166.02M	88.11M	-42.09M	562.8M	661.34M	584.53M
Depreciation & Amortization	67.33M	122.22M	114.45M	114.48M	110.12M	121.92M	130.85M	139M	152.32M	183.23M
Stock-Based Compensation	0	2M	1.9M	2.1M	1.9M	1.7M	2.3M	2.9M	0	0
Deferred Taxes	0	152.93M	777K	1.56M	784K	0	0	0	2.24M	0
Other Non-Cash Items	-13.2M	-7.11M	3.31M	38.08M	-119.6M	-5.34M	24.77M	-17.1M	-43.4M	-24.34M
Working Capital Changes	16.87M	8.32M	-13M	-12.67M	11.86M	29.41M	-67.89M	-185.6M	48.78M	45.62M
Change in Receivables	11M	20.8M	-13.8M	-8.9M	-2.5M	14.9M	-37.5M	-158.1M	46.13M	39.8M
Change in Inventory	15.6M	-6.1M	-1.6M	-6.2M	5.1M	13.21M	-26.9M	-21.8M	1.22M	-9.73M
Change in Payables	-11.9M	-5.4M	-4.5M	11.7M	22.8M	0	0	0	3.26M	7.54M
Cash from Investing+	-158.78M	-119.41M	-113.73M	-175.59M	-322.82M	-119.8M	-290.59M	11.3M	-350.77M	-432.22M
Capital Expenditures	-253.96M	-119.41M	-145.11M	-202.44M	-384.35M	-173.05M	-319.79M	-119.3M	-520.48M	-556.85M
CapEx % of Revenue	0.47%	0.18%	0.22%	0.32%	0.55%	0.23%	0.52%	0.08%	0.34%	0.36%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	17.64M	0	31.38M	26.85M	61.8M	53.25M	29.19M	129.5M	0	0
Cash from Financing+	75.03M	-144.02M	62.12M	95.99M	84.49M	-83.33M	297.98M	-337.6M	-499.26M	-361.02M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	-25M	-1.24M	0	0	-70.61M	0	-166.7M	-598.21M	-528.03M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-2.72M	0	594K	95.2M	-8.16M	756K	2.58M	8M	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-40.01M	51.73M	-35.27M	-131.7M	-213.26M	62.75M	-271.84M	382.7M	301.38M	233.24M
FCF Margin %	-0.07%	0.08%	-0.05%	-0.21%	-0.31%	0.08%	-0.44%	0.27%	0.2%	0.15%
FCF Growth %	-1.61%	2.29%	-1.68%	-2.73%	-0.62%	1.29%	-5.33%	2.41%	-0.21%	-0.23%
FCF per Share	-0.77	0.82	-0.57	-1.80	-2.88	0.84	-3.48	4.62	3.48	2.42
FCF Conversion (FCF/Net Income)	1.70x	-1.20x	45.64x	-2.03x	1.03x	2.68x	-1.14x	0.89x	1.27x	1.29x
Interest Paid	0	0	0	0	0	52.91M	41.05M	49.5M	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	31.03%	-16.22%	0.31%	-4.25%	17.9%	8.7%	-4.07%	44.04%	40.91%	32.75%
Return on Invested Capital (ROIC)	7.61%	-5.41%	2.12%	0.15%	9.43%	5.83%	0.05%	21.52%	22.73%	18%
Gross Margin	53.92%	46.25%	41.73%	37.04%	45.44%	53.19%	39.99%	58.54%	61.88%	60.85%
Net Margin	23.31%	-20.95%	0.37%	-5.47%	23.97%	11.79%	-6.79%	38.99%	42.64%	39.28%
Debt / Equity	0.80x	0.88x	0.95x	0.88x	0.85x	0.83x	1.08x	0.64x	0.64x	0.59x
Interest Coverage	9.53x	-3.23x	0.97x	0.07x	3.89x	1.78x	0.03x	12.35x	12.45x	9.43x
FCF Conversion	1.70x	-1.20x	45.64x	-2.03x	1.03x	2.68x	-1.14x	0.89x	1.27x	1.29x
Revenue Growth	-13.42%	25.86%	-3.4%	-3.29%	9.01%	7.9%	-17.1%	132.98%	5.33%	2.55%

Revenue by Segment

	2022	2023	2024
Others	700K	2M	1.2M
Others Growth	-	185.71%	-40.00%

Revenue by Geography

	2022	2023	2024
SWITZERLAND	-	242.5M	264.3M
SWITZERLAND Growth	-	-	8.99%
UNITED STATES	-	182.7M	243.1M
UNITED STATES Growth	-	-	33.06%
UNITED ARAB EMIRATES	-	-	160.5M
UNITED ARAB EMIRATES Growth	-	-	-
CH	220.9M	-	-
CH Growth	-	-	-
MX	178.2M	-	-
MX Growth	-	-	-

Frequently Asked Questions

Valuation & Price

TORM plc (TRMD) has a price-to-earnings (P/E) ratio of 3.6x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

TORM plc (TRMD) reported $1.29B in revenue for fiscal year 2024. This represents a 2% decrease from $1.32B in 2011.

TORM plc (TRMD) grew revenue by 2.6% over the past year. Growth has been modest.

Yes, TORM plc (TRMD) is profitable, generating $276.9M in net income for fiscal year 2024 (39.3% net margin).

Dividend & Returns

Yes, TORM plc (TRMD) pays a dividend with a yield of 24.12%. This makes it attractive for income-focused investors.

TORM plc (TRMD) has a return on equity (ROE) of 32.7%. This is excellent, indicating efficient use of shareholder capital.

TORM plc (TRMD) generated $242.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.