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International Seaways Inc.

INSW Energy Oil & Gas Midstream

International Seaways Inc.’s revenue for fiscal 2025 (year ended December 2025) was $843.3 million, down 11.4% from fiscal 2024.

Revenue
+146.0%
EPS
+386.0%
Free cash flow
+324.0%
Total debt
−11.6%

Quarter to September 2026, against a year earlier

95.13 4.23 −4.26%
Market cap
$4.8B
P/E
4.5×
Fwd P/E
4.1×
Dividend yield
5.43%
F-score
5/9
Altman Z
3.36
Beneish M
−2.53
Dividend safety
54/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • International Crude Tankers Segment
  • International Product Carriers Segment

Every year since 2014 →

Insider Decisions last twelve months

Sold, $m 176.19
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 2 2 2 10 3 5 2 2 1 1 2 —
Insider Ownership 12.30%

Capital & Financial Ratios $m

Size
Market Cap 4,830.00
Revenue ttm 1,543.84
Net income ttm 1,052.81
Free cash flow ttm 797.76
Net debt Q 700.00
Valuation
P/E 4.47
Forward P/E 4.13
Price / sales 3.05
Forward P/S Powerpack
Price / FCF 6.21
Price / book 1.99
Financial health
Current ratio Q 6.69 (at or above 1.5: strong)
Debt / equity Q 0.30 (at or below 0.5: strong)
Interest coverage Q 28.53
Growth
Revenue growth Q +146.04% (above 0%: growing)
Operating income growth Q +334.43% (above 0%: growing)
EPS, this year +427.63% (at or above 15%: strong)
EPS, next year A −46.33% (below 0%: weak)
Revenue, next year A +94.00% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +25.44% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.2×, against a ten-year median of 3.3×; over the ten years it ranged from 1.6× in 2020 to 7.9× in 2021.
P/E against its own 10 years 31.02%
10-year low 10-year high
P/S against its own 10 years 83.00%
10-year low 10-year high
P/B against its own 10 years 96.97%
10-year low 10-year high
EV/Sales against its own 10 years 47.05%
10-year low 10-year high
EV/FCF against its own 10 years 31.17%
10-year low 10-year high

Dividends

Yield
5.43%
Annual rate
5.17
Payout ratio
24.5%
Growth, 2020–25
+8.45%/yr
  1. 0.24 ’20
  2. 1.36 ’21 +467
  3. 0.30 ’22 −78
  4. 0.24 ’23 −20
  5. 0.24 ’24 +0
  6. 0.36 ’25 +50
  7. 23.97 ’26e +6558
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 187 158 167 —
Receivables 261 199 192 407
Inventory 1 2 1 22
Other 5 2 0 —
465 376 367 896
2023 2024 2025 Q'26
Payables 58 66 70 98
ST’ Debt 127 50 26 35
Other — — — —
196 131 99 134

Compound Annual Growth %

10y 5y 3y
Sales 5.42% 14.87% (0.83%)
Cash Flow 5.49% 11.95% 9.71%
Earnings 5.97% 0.00% (7.27%)
Book Value 3.86% 15.76% 10.74%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 5.28 Actual 5.91

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.91 1.15 Beat by 0.24
Q4 FY25 1.75 2.45 Beat by 0.70
Q1 FY26 2.48 3.90 Beat by 1.42
Q2 FY26 5.28 5.91 Beat by 0.63
Q3 FY26 4.60 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 5.75 5.91 6.90 — —
’25 1.00 1.25 1.42 2.56 6.23
’24 2.92 2.91 1.84 0.72 8.38
’23 3.47 3.11 1.99 2.68 11.25
’22 (0.26) 1.38 2.28 4.40 7.77
’21 (0.48) (0.67) (1.44) (0.68) (3.48)
’20 1.12 2.24 0.50 (4.18) (0.20)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 325 467 483 — —
’25 183 196 196 268 843
’24 274 257 225 195 952
’23 287 292 242 251 1,072
’22 101 188 237 338 865
’21 47 46 85 95 273
’20 125 140 100 57 422
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 141 268 243 — —
’25 70 86 78 146 380
’24 156 168 129 94 547
’23 221 194 148 125 688
’22 (20) 35 91 182 288
’21 (21) (2) (27) (27) (76)
’20 38 89 71 17 216
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 293 215 243 — —
’25 102 95 57 29 284
’24 129 39 138 31 337
’23 174 72 142 156 544
’22 (34) 74 57 174 272
’21 (24) (19) 63 (9) 11
’20 23 77 65 73 239
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing −8.9% a year for ten years. It grew 5.9% a year over the last ten.

Implied
−8.9%
10 years, reported
5.9%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 398 290 270 366 422 273 865 1,072 952 843 1,544 +8.7% 1,636 1,135 1,017 +6.4%
Gross margin, % 51.64 31.73 23.37 43.48 57.75 17.93 67.18 70.59 65.95 61.69 0.00 +10.1 pt
EBT (18) (106) (89) (1) (6) (133) 388 560 416 309 776 n/m
EBT margin, % (4.46) (36.55) (32.94) (0.23) (1.31) (48.81) 44.87 52.28 43.68 36.62 0.00 +41.1 pt
Net income (18) (106) (89) (1) (6) (135) 388 556 417 309 1,053 n/m
Per share, $
Per share, $ Revenue 13.66 9.95 9.28 12.53 14.86 7.10 17.51 21.88 19.31 17.09 31.18 +2.5%
Earnings (0.62) (3.64) (3.05) (0.03) (0.20) (3.48) 7.85 11.35 8.45 6.27 21.27 n/m
Cash flow 4.42 0.60 (0.43) 2.99 7.62 (1.98) 5.83 14.06 11.10 7.70 16.11 +6.4%
Capex (0.10) (5.34) 0.66 (0.73) 0.80 2.26 (0.33) (2.95) (4.26) (1.95) 0.00 +39.2%
Free cash flow 4.32 (4.74) 0.23 2.26 8.41 0.28 5.50 11.11 6.84 5.75 16.11 +3.2%
Book value 40.45 37.23 34.66 34.98 34.26 30.47 30.13 35.05 37.67 40.95 47.77 +0.1%
Shares, m 29 29 29 29 28 38 49 49 49 49 49 +6.0%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 4.43 4.11 4.25 7.76 4.47 2.1
P/S 1.05 1.92 1.81 2.38 1.10 2.07 1.99 2.13 1.86 2.84 3.05 1.9
P/B 0.36 0.51 0.49 0.85 0.48 0.48 1.16 1.33 0.95 1.19 1.99 0.8
EV/Sales 1.93 3.62 4.60 3.94 1.90 5.76 2.80 2.63 2.42 3.31 3.24 3.3
EV/FCF 6.09 (7.60) 183.61 21.81 3.35 148.16 8.92 5.18 6.83 9.85 6.59 38.6
Cash, $m
Cash, $m Operating cash flow 129 17 (12) 87 216 (76) 288 688 547 380 798 +12.8%
Capex (3) (156) 19 (21) 23 87 (16) (144) (210) (96) (39) +47.6%
Free cash flow 126 (138) 7 66 239 11 272 544 337 284 798 +9.4%
Balance, $m
Balance, $m Working capital 126 85 92 73 148 (10) 385 269 245 268 762 +8.8%
Net debt 348 493 752 571 336 1,007 700 536 531 400 700 +1.6%
Shareholders’ equity 1,180 1,086 1,010 1,022 972 1,170 1,488 1,717 1,856 2,020 2,366 +6.2%
Returns, %
Returns, % ROA (0.99) (6.38) (5.06) (0.05) (0.33) (6.79) 15.63 21.66 16.16 11.66 35.32 +12.7 pt
ROIC 0.98 (2.34) (0.89) 2.60 2.10 (2.59) 12.67 17.08 11.92 8.92 0.00 +7.9 pt
ROE (1.42) (9.37) (8.49) (0.08) (0.55) (12.46) 29.19 34.73 23.33 15.96 48.98 +17.4 pt
People
People Employees 1,526 1,577 1,642 1,666 764 2,061 1,800 2,698 2,824 2,763 — +6.8%
Revenue/emp, $m 0.26 0.18 0.16 0.22 0.55 0.13 0.48 0.40 0.34 0.31 — +1.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

International Seaways owns and operates oceangoing tankers that transport crude oil and petroleum products for customers around the world. Incorporated in 1999 in the Marshall Islands, the company is led by President and Chief Executive Officer Lois K. Zabrocky. Its ultimate customers include oil companies, traders, refinery operators and international government entities.

The business has two segments. Crude Tankers transports crude oil and provides ship-to-ship transfer services, known as lightering. Product Carriers transports refined products from refineries to consuming markets. Those cargoes include gasoline, diesel and jet fuel, as well as some edible oils and chemicals. Some of the company’s product carriers also carry crude oil when market conditions warrant it.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
International Crude Tankers Segment 440 52.13%
International Product Carriers Segment 404 47.87%
Gross margin 61.69%
Operating margin 40.96%
Pre-tax margin 36.62%

Revenue by segment since 2014

International Seaways Inc. vs peers in Oil & Gas Midstream (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
SOBO South Bow Corporation $6.6B 14.4× 19.5× +4.20% (above 0%: growing) +39.13% (above 0%: growing) +48.75% (above 0%: growing) 55.68% 48.90% Compare
HESM Hess Midstream Partners LP $6.3B 10.5× 10.5× −2.57% (below 0%: shrinking) +1.35% (above 0%: growing) +35.38% (above 0%: growing) 100.00% 63.98% Compare
INSW International Seaways Inc. $4.8B 4.5× 4.1× +146.04% (above 0%: growing) +386.01% (above 0%: growing) +323.97% (above 0%: growing) 0.00% 0.00%
CMBT CMB.TECH nv $4.8B 3.4× 3.9× +519.15% (above 0%: growing) n/m +451.20% (above 0%: growing) 71.02% 54.45% Compare
GLNG Golar LNG Limited $4.4B 27.1× 40.4× +100.86% (above 0%: growing) −30.19% (below 0%: shrinking) +33.24% (above 0%: growing) 67.68% 49.39% Compare
STNG Scorpio Tankers Inc. $4.1B 3.9× 4.4× +10.40% (above 0%: growing) +171.19% (above 0%: growing) +229.09% (above 0%: growing) 70.83% 100.99% Compare
EE Excelerate Energy, Inc. $4.0B 23.5× 22.8× −24.00% (below 0%: shrinking) +2.27% (above 0%: growing) −19.75% (below 0%: shrinking) 0.00% 31.81% Compare
TRMD TORM PLC $3.5B 5.6× — +110.28% (above 0%: growing) +451.67% (above 0%: growing) +48.55% (above 0%: growing) 89.05% 53.58% Compare
DHT DHT Holdings, Inc. $3.3B 7.0× 3.9× +122.12% (above 0%: growing) +251.43% (above 0%: growing) +122.28% (above 0%: growing) 83.01% 71.31% Compare
Median of peers $4.2B 8.7× 10.5× +55.63% +39.13% +48.65% 70.93% 54.02%

All 57 Oil & Gas Midstream stocks →

From the latest earnings call

Updated

  • CEO Lois Zabrocky said shipping disruptions are lengthening trade routes, but prolonged disruption could weigh on the global economy and oil demand.
  • CFO Jeffrey Pribor said higher tanker rates and time-charter profit sharing contributed to the quarter, while advance bookings for the next quarter remained incomplete.

Pay and ownership Proxy statement filed 29 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 4.51m 6.73m 470.75
2024 3.99m 2.73m 324.72
2023 4.28m 5.92m 364.24
2022 5.41m 10.81m 254.84
2021 3.05m 2.37m 97.07

Ownership

Directors and executive officers, together 1.70%
Famatown Finance Limited 15.80%
BlackRock, Inc. 12.30%
FMR LLC 9.50%
The Vanguard Group 8.90%
Dimensional Fund Advisors L.P. 6.50%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

International Seaways Inc. (INSW) Latest News

5 Nov

Impact 4 · · GuruFocus.com
Impact 4 · · The Motley Fool transcript
Impact 4 · · Business Wire
Impact 3 · · Zacks

29 Oct

Impact 4 · · Zacks
Impact 3 · · Zacks

17 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · Simply Wall St.

16 Oct

Impact 4 · · MT Newswires
Impact 4 · · Business Wire

13 Oct

Impact 4 · · Zacks
Impact 3 · · Zacks

8 Oct

Impact 4 · · Zacks

7 Oct

Impact 4 · · Zacks

16 Sep

Impact 4 ·

9 Sep

Impact 3 ·

17 Aug

Impact 4 · · The Motley Fool transcript

12 Aug

Impact 3 ·

10 Aug

Impact 4 ·
Impact 3 · · MarketBeat transcript
Impact 3 · · InvestorsHub
Impact 3 ·
Impact 3 ·

3 Aug

Impact 3 ·

31 Jul

Impact 3 ·

17 Jul

Impact 3 ·

16 Jul

Impact 4 ·
Impact 3 ·
Impact 3 ·
Impact 3 ·

INSW metrics, ten years each

stockrow.com/INSW · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com